MIRA INFORM REPORT

Report Date :

27.10.2012

IDENTIFICATION DETAILS

Name :	B.R. PODDAR MARKETING PRIVATE LIMITED
Registered Office :	9, India Exchange Place, 3^rd Floor, Kolkata-700001, West Bengal
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	10.06.2005
Com. Reg. No.:	21-103681
Capital Investment / Paid-up Capital :	Rs.4.450 Millions
CIN No.: [Company Identification No.]	U51909WB2005PTC103681
TAN No.: [Tax Deduction & Collection Account No.]	CALB08773C
PAN No.: [Permanent Account No.]	AACCB6324P
Legal Form :	Private Limited Liability Company
Line of Business :	Dealing in Surgical Healthcare Products.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (30)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 32000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is a small company having moderate track. Its scale of operations are limited. Financial position appears to be unhealthy. Even though the subject has achieved some improvement in its operations, it has incurred loss during 2011. However, trade relations are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for small to mediocre business dealings with some caution.

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

India 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.

LOCATIONS

Registered Office :	9, India Exchange Place, 3^rd Floor, Kolkata-700001, West Bengal, India
Tel. No.:	91-33-22107234/40714151/22348296/22372182
Fax No.:	91-33-40714161/40075737
E-Mail :	accounts@brpoddar.com info@brproducts.com

DIRECTORS

AS ON 29.09.2011

Name :

Mr. Sourav Poddar

Designation :

Director

Address :

CE-80, Sector I, Salt Lake City, Kolkata-700064, West Bengal, India

Date of Birth/Age :

15.05.1982

Date of Appointment :

02.09.2008

Din No.:

00301879

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	U51909WB2005PTC104876	MADAL SATI TRADERS PRIVATE LIMITED	Director	23/08/2005	23/08/2005	-	Active	NO
2	U51909WB2006PTC112149	PODDAR MARKETING PRIVATE LIMITED	Director	19/12/2006	19/12/2006	-	Active	NO
3	U29297WB1999PTC090020	K.R. LYNCH SURGICAL AND MEDICAL PRIVATE LIMITED	Director	30/09/2008	02/09/2008	14/07/2011	Active	NO
4	U51909WB2005PTC103681	B.R. PODDAR MARKETING PRIVATE LIMITED	Director	02/09/2008	02/09/2008	-	Active	NO
5	U51909WB2009PTC131728	K L PODDAR TRADING PRIVATE LIMITED	Director	06/01/2009	06/01/2009	-	Active	NO

Name :

Mr. Sushil Kumar Poddar

Designation :

Director

Address :

CE-80, Sector I, Salt Lake City, Kolkata-700064, West Bengal, India

Date of Birth/Age :

31.12.1950

Date of Appointment :

10.06.2005

Din No.:

00119348

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	L74140WB1994PLC061497	LYONS CORPORATE MARKET LTD	Director	12/04/1999	12/04/1999	-	Active	NO
2	U29297WB1999PTC090020	K.R. LYNCH SURGICAL AND MEDICAL PRIVATE LIMITED	Director	06/08/1999	06/08/1999	14/07/2011	Active	NO
3	U51909WB1995PTC070725	AAINA ENGINEERING PRIVATE LIMITED	Director	18/09/2001	18/09/2001	-	Active	NO
4	U51909WB2005PTC103681	B.R. PODDAR MARKETING PRIVATE LIMITED	Director	10/06/2005	10/06/2005	-	Active	NO
5	U51909WB2006PTC112149	PODDAR MARKETING PRIVATE LIMITED	Director	19/12/2006	19/12/2006	-	Active	NO
6	U51109WB2007PTC120575	B R P TRADELINKS PRIVATE LIMITED	Director	23/11/2007	23/11/2007	-	Active	NO
7	U51909WB2009PTC131728	K L PODDAR TRADING PRIVATE LIMITED	Director	06/01/2009	06/01/2009	-	Active	NO

Name :

Mr. Sanjay Kumar Shah

Designation :

Director

Address :

175 Dwarik Jungle Road, Marwari Patty, Bhadrakali, Hooghly-712232, West Bengal, India

Date of Birth/Age :

10.06.1976

Date of Appointment :

10.06.2005

Din No.:

00109444

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	Company/ LLP Status	Defaulting status
1	L17111WB1994PLC065519	SIDDHESWARI GARMENTS LIMITED	Director	10/06/2003	10/06/2003	Active	NO
2	U51909WB2005PTC103681	B.R. PODDAR MARKETING PRIVATE LIMITED	Director	10/06/2005	10/06/2005	Active	NO
3	U51909WB2006PTC112149	PODDAR MARKETING PRIVATE LIMITED	Director	19/12/2006	19/12/2006	Active	NO
4	U51909WB2005PTC104876	MADAL SATI TRADERS PRIVATE LIMITED	Director	24/06/2009	24/06/2009	Active	NO

Name :

Uma Nath Singh

Designation :

Director

Address :

22/J, Kazipara Road, Parnashree Pally, Behala, Kolkata-700060, West Bengal, India

Date of Birth/Age :

28.06.1968

Date of Appointment :

10.06.2005

Din No.:

00301884

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	Company/ LLP Status	Defaulting status
1	U51909WB2005PTC103681	B.R. PODDAR MARKETING PRIVATE LIMITED	Director	10/06/2005	10/06/2005	Active	NO
2	L17111WB1994PLC065519	SIDDHESWARI GARMENTS LTD	Director	28/09/2006	28/09/2006	Active	NO
3	U51109WB2007PTC120575	B R P TRADELINKS PRIVATE LIMITED	Director	23/11/2007	23/11/2007	Active	NO
4	U74999WB2010PTC154906	RENOVAR BIO-LIFE PRIVATE LIMITED	Director	23/11/2010	23/11/2010	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2011

Names of Shareholders	No. of Shares
Sushil Kumar Poddar	2500
Sanjay Kumar Shah	3500
Uma Nath Singh	4000
Poddar Marketing Private Limited, India	35000
K R Lynch Surgical and Medical Private Limited, India	75000
Madal Sati Traders Private Limited, India	35000
Siddheswari Garments Limited, India	25000
K L Poddar Trading Private Limited, India	35000
Abhishek Family Trust, India	25000
KRL Trading Private Limited, India	35000
BRP Tradlinks Private Limited, India	35000
Aaina Engineering Private Limited, India	35000
Vishwata Tradelinks Private Limited, India	25000
Manohar Dealcom Private Limited, India	25000
K.R. Lynch and Company, India	40000
Usha Polychem India Private Limited, India	5000
Binod Resources Private Limited, India	5000
TOTAL	445000

AS ON 31.03.2012

Names of Allottees	No. of Shares
Atlantic Goods Private Limited, India	10000
Suryalata Traxim Private Limited, India	10000
Comfort Tradelinks Private Limited, India	10000
TOTAL	30000

AS ON 29.09.2011

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	96.63
Directors or relatives of directors	2.25
Other top fifty shareholders	1.12
TOTAL	100.00

BUSINESS DETAILS

Line of Business :

Dealing in Surgical Healthcare Products.

Products :

PRODUCT DESCRIPTION	ITEM CODE
Surgical Healthcare Products	90.18

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Not Available

Facilities :

Unsecured Loan	As on 31.03.2011 [Rs. in Millions]	As on 31.03.2010 [Rs. in Millions]
From Body Corporate [Not bearing interest]	3.600	0.000
TOTAL	3.600	0.000

Banking Relations :	--
Auditors :
Name :	K.S. Bothra and Company Chartered Accountants
Address :	9/12, Lall Bazar Street, Mercahantile Building, E Block, 1^st Floor, Kolkata-700001, West Bengal, India
Tel. No.:	91-33-22306733/22485534/22430682
Fax No.:	91-33-22102003
E-Mail :	ksbnco@ksbothraco.com
PAN No:	AADFK7294B

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	Rs.10/- each	Rs.5.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
445000	Equity Shares	Rs.10/- each	Rs.4.450 Millions

AS ON 29.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
600000	Equity Shares	Rs.10/- each	Rs.6.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
475000	Equity Shares	Rs.10/- each	Rs.4.750 Millions

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		4.450	4.350	3.850
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		3.764	3.188	2.651
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		8.214	7.538	6.501
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		3.600	0.000	0.000
TOTAL BORROWING		3.600	0.000	0.000
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		11.814	7.538	6.501
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.726	0.677	0.914
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.350	1.306	1.306
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	5.604	2.541	0.000
	Sundry Debtors	6.382	4.496	5.352
	Cash & Bank Balances	3.548	0.463	0.972
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	6.548	5.563	0.941
Total Current Assets		22.082	13.063	7.265
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	11.441	6.784	1.920
	Other Current Liabilities	0.849	0.000	0.416
	Provisions	0.054	0.744	0.691
Total Current Liabilities		12.344	7.528	3.027
Net Current Assets		9.738	5.535	4.238
MISCELLANEOUS EXPENSES		0.000	0.020	0.043
TOTAL		11.814	7.538	6.501

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	10.614	8.407	2.595
		Other Income	0.115	0.028	0.668
		Profit on Sale of Motor Car	0.075	0.000	0.000
		Profit on Sale of Investment	0.287	0.000	0.000
		TOTAL (A)	11.091	8.435	3.263
Less	EXPENSES
		Cost of Goods Sold	8.957	6.830	2.198
		Administrative and Other Expenses	2.244	1.278	0.602
		TOTAL (B)	11.201	8.108	2.800
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		(0.110)	0.327	0.463
Less	FINANCIAL EXPENSES (D)		0.000	0.000	0.054
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(0.110)	0.327	0.409
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.196	0.237	0.319
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		(0.306)	0.090	0.090
Less	TAX (H)		0.019	0.053	0.104
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		(0.325)	0.037	(0.014)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		1.338	1.301	1.315
	BALANCE CARRIED TO THE B/S		1.013	1.338	1.301
	IMPORTS		4.092	0.000	0.000
	Earnings / (Loss) Per Share (Rs.)		(0.69)	0.09	--

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	(2.93)	0.44	(0.43)
Net Profit Margin (PBT/Sales)	(%)	(2.88)	1.07	3.47
Return on Total Assets (PBT/Total Assets}	(%)	(1.29)	0.66	1.10
Return on Investment (ROI) (PBT/Networth)		(0.04)	0.01	0.01
Debt Equity Ratio (Total Liability/Networth)		1.94	1.00	0.47
Current Ratio (Current Asset/Current Liability)		1.79	1.74	2.40

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	--
22]	Litigations that the firm / promoter involved in	--
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	--
26]	Buyer visit details	--
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	PAN of Proprietor/Partner/Director, if available	No
32]	Date of Birth of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

FIXED ASSETS:

· Motor Car

· Computer

· Air Conditioner

· Projector

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 records 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.53.63
UK Pound	1	Rs.86.17
Euro	1	Rs.69.75

INFORMATION DETAILS

Report Prepared by :

TPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	4
--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		30

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.