MIRA INFORM REPORT

Report Date :

29.10.2012

IDENTIFICATION DETAILS

Name :	TRIVENI BIOTRONIX PRIVATE LIMITED
Registered Office :	Plot No. 192, Gali No. 8, Deep Enclave-1, Vikas Nagar, Uttam Nagar, New Delhi-110058
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	29.09.2004
Com. Reg. No.:	55-129534
Capital Investment / Paid-up Capital :	Rs. 0.100 million
CIN No.: [Company Identification No.]	U74899DL2004PTC129534
TAN No.: [Tax Deduction & Collection Account No.]	DELT07032E
PAN No.: [Permanent Account No.]	AACCT1044L
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Medical Diagnostic Equipments
No. of Employees :	35 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Maximum Credit Limit :	USD 100
Status :	Small Company
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a small company in its field. Its scale of activities are limited. Trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for small business dealings at usual 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

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.

INFORMATION PARTED BY

Name :	Mr. Santosh Tiwari
Designation :	Director
Contact No.:	91-9953625888
Date :	27.10.2012

LOCATIONS

Registered Office :	Plot No. 192, Gali No. 8, Deep Enclave-1, Vikas Nagar, Uttam Nagar, New Delhi-110058, India
Tel. No.:	91-11-25356203 / 25589894
Mobile No.:	91-9953625888 (Mr. Santosh)
Fax No.:	91-11-25374053
E-Mail :	trivenibiotronix@yahoo.co.in
Website :	www.trivenibiotronix.com
Area :	3000 sq. ft.
Location :	Owned
Factory :	G-1/992, Riico Industrial Area, Chopanki Bhiwandi-301019, Maharashtra, India
Area :	15000 sq. ft.
Location :	Owned

DIRECTORS

As on 30.09.2011

Name :

Mr. Santosh Kumar Tiwari

Designation :

Director

Address :

D-104, Nawada Housing Complex, Kakraula More, New Delhi-110059, India

Date of Birth/Age :

09.05.1975

Date of Appointment :

29.09.2004

DIN No.:

00430918

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	U74899DL2004PTC129534	TRIVENI BIOTRONIX PRIVATE LIMITED	Director	29/09/2004	29/09/2004	-	Active	NO
2	U33110DL2012PTC234846	BIONATION IMAGING PRIVATE LIMITED	Director	26/04/2012	26/04/2012	-	Active	NO

Name :

Mrs. Vidyavati Santosh Tiwari

Designation :

Director

Address :

D-104, Nawada Housing Complex, Kakraula More, New Delhi-110059, India

Date of Birth/Age :

10.08.1976

Date of Appointment :

29.09.2004

DIN No.:

00430935

Voter ID No.:

FCX0955559

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Santosh Kumar Tiwari	5000
Vidyavati Santosh Tiwari	5000
Total	10000

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Medical Diagnostic Equipments.
Products :	· Diagnostic Medical X-Ray Products · Static X-Ray Unit (60mA/100mA 100 KV) · Mobile X-Ray Unit (60mA/100mA) · Portable X-Ray Unit (60mA/100mA) · High Frequency 6"/9" C-Arm Image Intensifiers and spares · Lithotripters and spares · Mammography · CT Scanners and spares · Color Doppler and spares
Exports :
Products :	· Medical Diagnostic Equipments
Countries :	· Bangladesh · Srilanka · Africa · Nepal
Imports :
Products :	· Finish Goods
Countries :	· USA · Denmark · Germany · Japan · China
Terms :
Selling :	Cash / Credit
Purchasing :	Cash / Credit

GENERAL INFORMATION

Suppliers :

· Agito Medical Denmark

Customers :

End Users and OEM’s

· Pratnam Diagnostic Private Limited

No. of Employees :

35 (Approximately)

Bankers :

· HDFC Bank Limited, New Delhi

· Axis Bank Limited, New Delhi

· ICICI Bank, New Delhi

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Rajasthan Finance Corporation against land and building	0.342	1.140
Total	0.342	1.140
Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Santosh Kumar Tiwari Vidyavati Santosh Tiwari	1.080 0.480	0.415 0.275
Total	1.560	0.690

Financial Institution:	Rajasthan Financial Corporation, H.O. Udyog Bhawan, RFC RIICO Chowk, Bhiwadi Rajasthan, Tilak Marg, Jaipur-302005, Rajasthan, India
Banking Relations :	--
Auditors :
Name :	G C Gupta and Company Chartered Accountants
Address :	D-48, Dabari Extension East, New Delhi-110045, India
PAN No.:	AAGPG8947A
Associates/Subsidiaries :	· Bionation Imaging Private Limited, India Address: Plot No. 192, Gali No. 8, Deep Enclave-1, Vikas Nagar, Uttam Nagar, New Delhi-110058, India Line of Business: Manufacturer and Exporter of Medical Diagnostic Equipments

CAPITAL STRUCTURE

As on 30.09.2011

Authorized Capital:

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

Issued, Subscribed & 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		0.100	0.100	0.100
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.184	0.112	0.077
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		0.284	0.212	0.177
LOAN FUNDS
1] Secured Loans		0.342	1.140	1.835
2] Unsecured Loans		1.560	0.690	0.055
TOTAL BORROWING		1.902	1.830	1.890
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		2.186	2.042	2.067
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2.396	2.380	2.390
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	2.890	1.065	0.186
	Sundry Debtors	0.422	0.687	0.270
	Cash & Bank Balances	0.504	0.073	0.088
	Other Current Assets	0.000	0.010	0.000
	Loans & Advances	0.415	2.347	0.500
Total Current Assets		4.231	4.182	1.044
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1.888	1.279	0.976
	Other Current Liabilities	2.553	3.169	0.391
	Provisions	0.000	0.072	0.000
Total Current Liabilities		4.441	4.520	1.367
Net Current Assets		(0.210)	(0.338)	(0.323)
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		2.186	2.042	2.067

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income
		Other Income
		TOTAL	3.675	3.928	2.623
Less	EXPENSES
		Office Expenses
		Administrative Expenses	3.629	3.852	2.563
		Advertising Expenses
		TOTAL	3.629	3.852	2.563
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		0.046	0.076	0.060
Less/ Add	DEPRECIATION/ AMORTISATION		0.026	0.022	0.023
	PROFIT BEFORE TAX		0.072	0.054	0.037
Less	TAX		0.040	0.019	0.015
	PROFIT AFTER TAX		0.032	0.035	0.022
	Earnings Per Share (Rs.)		5.15	3.51	2.19

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.87	0.89	0.84
Return on Total Assets (PBT/Total Assets}	(%)	1.08	0.82	1.08
Return on Investment (ROI) (PBT/Networth)		0.25	0.25	0.21
Debt Equity Ratio (Total Liability/Networth)		22.33	29.95	18.40
Current Ratio (Current Asset/Current Liability)		0.95	0.93	0.76

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	Yes
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
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	Yes
17]	Major suppliers	Yes
18]	Major customers	Yes
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
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]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	Yes
34]	External Agency Rating, if available	No

FINANCIAL RESULTS:

The turnover of the company during the year ended 31.03.2011 was Rs.3.675 Millions. The company has earned a net profit of Rs. 0.072 Million after providing depreciation of Rs. 0.026 Million. The directors expect better performance in future.

BANKERS CHARGES REPORT AS PER REGISTRY

This form is for	Creation of charge
Corporate identity number of the company	U74899DL2004PTC129534
Name of the company	TRIVENI BIOTRONIX PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Plot No.192, Gali No.8, Deep Enclave-1, Vikas Nagar, Uttam Nagar, New Delhi – 110 059, India
Type of charge	Immovable Property Movable Property
Particular of charge holder	Rajasthan Financial Corporation H.O. Udyog Bhawan, RFC RIICO Chowk, Bhiwadi Rajasthan, Tilak Marg, Jaipur – 302 005, Rajasthan, India
Nature of description of the instrument creating or modifying the charge	Deed of Hypothecation dated 27.11.2007 and loan agreement dated 27.11.2007
Date of instrument Creating the charge	27.11.2007
Amount secured by the charge	Rs. 2.400 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Interest will be payable @ 16% p.a. Interest shall be compounded quarterly. In case of delay in repayment, liquidated damages @ 3% per annum on the amount of default. Presently rate of rebate for timely repayment is @ 1% p.a. Terms of Repayment Repayment in 13 Equated quarterly installments repayable in 3 ½ years. The EQI has been calculated net of rebate i.e. 15% p.a. (i.e. 16% less 1%) In case of non receipt of interest and EQI within time eligible for rebate, interest @ 1% in Lieu of Timely payment rebate against EQI as over and above liquidated damages. Interest for Moratorium perion exceeding Margin Raise and Invest Promoter contribution Rs.0.800 Million by way of internal accruals in the project Extent and Operation of the charge Equitable Mortgage by deposit of title documents of the land, building and hypothecation of plant and machinery.
Short particulars of the property charged	Equitable Mortgage by deposit of title documents of the land, building and hypothecation of plant and machinery situated at G-1/492, RIICO Industrial Area, Chopanki District Alwar, Rajasthan

TRADE REFERENCES

· Agito Medical Denmark

· Pratnam Diagnostic Private Limited

FIXED ASSETS:

· Industrial Plot – RIICO

· Building at Bhiwadi

· Office Equipments

· Telephone Equipments

· Machinery

· Furniture and Fixtures

· Computer

· Cycle

· Fire Extinguisher

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.53.63
UK Pound	1	Rs.86.18
Euro	1	Rs.69.75

INFORMATION DETAILS

Information Gathered by :	SVA
Report Prepared by :	NID

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	2
--CREDIT LINES	1~10	3
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		26

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.