MIRA INFORM REPORT

Report Date :

02.10.2012

IDENTIFICATION DETAILS

Name :	STANDARD MEDICINES PRIVATE LIMITED
Registered Office :	Block No.- D -251, Flat No – 5, Gupta Farm, Krishana Park, Khanpur, Delhi - 110062
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	16.09.2008
Com. Reg. No.:	55-183301
Capital Investment/ Paid-up Capital:	Rs.0.100 Million
CIN No.: [Company Identification No.]	U24232DL2008PTC183301
Legal Form :	Private Limited Liability Company
Line of Business :	Dealer in pharmaceuticals, intermediaries, drugs, essential oils, aromatic oils solates, aroma chemicals, oleoresins, herbal extracts and medicinal compounds, cosmetics, perfumery, flavours and fragrant compounds
No. of Employees:	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ca (18)

RATING		STATUS	PROPOSED CREDIT LINE
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security

Status :	Recently started business activity
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Even though the company was incorporated in the year 2008. They have started their business activity from December 2011. And about to complete one full year of business operation. Management denied to provide any financial details. Payment terms are unknown. The company can be considered for business dealings on safe and secured trade terms and conditions

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INDIAN ECONOMIC OVERVIEW

77777777777777777777777India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

INFORMATION DENIED BY

Name :	Mr. Dr. Pankaj Kumar Singh
Designation :	Managing Director
Contact No.:	91-9810162031
Date :	27.09.2012

LOCATIONS

Registered Office :	Block No.- D -251, Flat No – 5, Gupta Farm, Krishana Park, Khanpur, Delhi – 110062, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	info@rmgcs.com akela.p.india@gamail.com

DIRECTORS

Name :

Mr. Ashok Kumar

Designation :

Director

Address :

B -46, O – Sector, Shachiwalay Colony, Post Office, Lohia Nagar, Patna – 800020, Bihar, India

Date of Birth/Age :

15.12.1972

Date of Appointment :

01.02.2011

Din No.:

03331758

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U24232DL2008PTC183301	STANDARD MEDICINES PRIVATE LIMITED	Additional director	01/02/2011	01/02/2011	-	Active	NO
2	U24239MH2011PTC214971	Manas Healthcare Private Limited	Director	18/03/2011	18/03/2011	-	Active	NO

Name :

Mr. Pankaj Kumar Singh

Designation :

Director

Address :

Panagarh Bazar, Panagarh – 713148, West Bengal, India

Date of Birth/Age :

09.07.1971

Date of Appointment :

16.09.2008

Din No.:

02069672

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U85100WB2008PTC126743	AKELA-P MEDICAL GASES PRIVATE LIMITED	Director	20/06/2008	20/06/2008	-	Active	NO
2	U24232DL2008PTC183301	STANDARD MEDICINES PRIVATE LIMITED	Director	16/09/2008	16/09/2008	-	Active	NO

Name :

Mrs. Meenakshi Singh

Designation :

Director

Address :

Panagarh Bazar, Panagarh – 713148, West Bengal, India

Date of Birth/Age :

26.08.1969

Date of Appointment :

15.05.2209

Din No.:

02071070

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U85100WB2008PTC126743	AKELA-P MEDICAL GASES PRIVATE LIMITED	Director	20/06/2008	20/06/2008	-	Active	NO
2	U24232DL2008PTC183301	STANDARD MEDICINES PRIVATE LIMITED	Director	06/11/2009	15/05/2009	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Mr. Pankaj Kumar Singh	5000
Mrs. Meenakshi Singh	5000
Total	10000

As on 30.09.2011

Equity Share Break up (Percentage of Total Equity)

(AS ON )

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Dealer in pharmaceuticals, intermediaries, drugs, essential oils, aromatic oils solates, aroma chemicals, oleoresins, herbal extracts and medicinal compounds, cosmetics, perfumery, flavours and fragrant compounds

GENERAL INFORMATION

No. of Employees :	Not Available
Bankers :	Not Available
Facilities :	-

Banking Relations :	--
Auditors :
Name :	Jyoti Ravindra and Company Chartered Accountant
Address :	207, Suchet Chambers, 1224/5, Bank Street,Karol Bagh, New Delhi – 110005, India
Pan No.:	AEXPJ2744M

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.10/- each	Rs.1.000 Million

Issued, Subscribed

No. of Shares	Type	Value	Amount
15000	Equity Shares	Rs.10/- each	Rs.0.150 Million

Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs.0.100 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		0.150	0.100	0.100
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		(0.076)	(0.030)	(0.014)
NETWORTH		0.074	0.070	0.086
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		0.000	0.000	0.000
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		0.074	0.070	0.086
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.000	0.000	0.000
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.018	0.005	0.003
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.000	0.000	0.000
	Cash & Bank Balances	0.050	0.045	0.048
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.225	0.000	0.000
Total Current Assets		0.275	0.045	0.048
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.009	0.010	0.005
	Other Current Liabilities	0.230	0.000	0.000
	Provisions	0.000	0.000	0.000
Total Current Liabilities		0.239	0.010	0.005
Net Current Assets		0.036	0.035	0.043
MISCELLANEOUS EXPENSES		0.020	0.030	0.040
TOTAL		0.074	0.070	0.086

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2011	31.03.2010	31.03.2009
	SALES	Nil	Nil	Nil
Less	EXPENSES	0.059	0.018	0.017
	PROFIT BEFORE TAX	(0.059)	(0.018)	(0.017)
Less	PRIOR PERIOD ADJUSTMENT	0.012	0.003	0.003
Less	TAX	0.000	0.000	00000
	PROFIT AFTER TAX	(0.047)	(0.015)	(0.014)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	(0.029)	(0.014)	-
	BALANCE CARRIED TO THE B/S	0.077	(0.029)	(0.014)
	Earnings Per Share (Rs.)	(3.95)	(1.54)	-

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
Return on Total Assets (PBT/Total Assets}	(%)	(21.45)	(40)	(35.42)
Return on Investment (ROI) (PBT/Networth)		(0.80)	(0.26)	(0.20)
Debt Equity Ratio (Total Liability/Networth)		3.23	0.14	0.06
Current Ratio (Current Asset/Current Liability)		1.15	4.5	9.6

LOCAL AGENCY FURTHER INFORMATION

Check List by Info Agents	Available in Report [Yes/No]
Year of Establishment	Yes
Locality of the Firm	Yes
Constitution of the firm	Yes
Premises details	No
Type of Business	Yes
Line of Business	Yes
Promoters background	Yes
No. of Employees	No
Name of Person Contacted	Yes
Designation of contact person	Yes
Turnover of firm for last three years	Yes
Profitability for last three years	Yes
Reasons for variation <> 20%	-
Estimation for coming financial year	No
Capital the business	Yes
Details of sister concerns	No
Major Suppliers	No
Major Customers	No
Payment Terms	No
Export / Import Details [If Applicable]	No
Market Information	-
Litigations that the firm / promoter involved in	-
Banking Details	No
Banking Facility Details	No
Conduct of the banking account	-
Buyer visit details	-
Financials, if provided	Yes
Incorporation details, if applicable	Yes
Last accounts filed at ROC	Yes
Major Shareholders, if applicable	Yes
Date of Birth of Proprietor/Partner/Director, if available	Yes
PAN of Proprietor/Partner/Director, if available	No
Voter ID No of Proprietor/Partner/Director, if available	No
External Agency Rating, if available	No

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.52.78
UK Pound	1	Rs.85.16
Euro	1	Rs.67.79

INFORMATION DETAILS

Report Prepared by :

BYI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	2
--RESERVES	1~10	2
--CREDIT LINES	1~10	2
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		18

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
-	NB	New Business	-

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.