MIRA INFORM REPORT

Report Date :

06.04.2013

IDENTIFICATION DETAILS

Name :	RAJA RAMANNA CENTRE FOR ADVANCED TECHNOLOGY
Registered Office :	P.O. CAT, Indore – 452013, Madhya Pradesh
Country :	India
Year of Establishment :	1984
Legal Form :	Research Centre
Line of Business :	Research and Development in a Non-Nuclear front line Research Areas.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ba (49)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject was established by the Department of Atomic Energy, India to expand the activities carried out at Bhabha Atomic Research Centre (BARC), Mumbai. The centre has rapidly grown into a premier institute for research and development in lasers, accelerators and their applications. Mr. Bijaya Jena, Chief Administrative Officer has provided few general information but denied to disclose further detail to us. However, it is known to have satisfactory track record. Trade relations are reported as decent. Business is active. Payment terms are usually correct. The centre can be considered for 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 (PARTIAL DETAILS)

Name :	Mr. Bijaya Jena
Designation :	Chief Administrative Officer
Contact No.:	91-9425064512
Date :	30.03.2013

LOCATIONS

Registered Office :	P.O. CAT, Indore – 452013, Madhya Pradesh, India
Tel. No.:	91-731-2488816
Mobile No.:	91-9425064512 (Mr. Bijaya Jena)
Fax No.:	91-731-2321343
E-Mail :	cao@rrcat.gov.in pdgupta@rrcat.gov.in
Website :	http://www.cat.gov.in

SOLE PROPRIETOR/PARTNERS

Name :		Dr. P. K. Gupta
Designation :		Director
ORGANISATION CHART
		Names of Members
Laser Biomedical Applications and Instrumentation Division		Dr. P. K. Gupta
Laser Materials Development and Devices Division		Dr. P. K. Gupta
	Target Laboratory
Solid State Laser Division		Dr. S. M. Oak
	Semiconductor Laser Section	Dr. S. M. Oak
	Diode Pumped Solid State Laser Lab	Dr. S. M. Oak
	Fiber Optics Lab	Mr. Sanjay Kher
Laser Material Processing Division		Dr. L. M. Kukreja
	Excimer Laser Section	Mr. Bijendra Singh
Laser Electronics Support Division		Mr. C. P. Navathe
Laser Plasma Division		Dr. P. A. Naik
	Laser Plasma Lab	Dr. P. A. Naik
	High Power Laser Optics Lab	Mr. A. S. Joshi
Computer Division		Dr. Anil Rawat
	Computer Centre	Dr. Anil Rawat
	Library
Laser Systems Engineering Section		Mr. Shankar V. Nakhe
Mechanical and Optical Support Section		Mr. Abhinandan Lala
	Optical Workshop	Dr. Sanjib Chatterjee
	Workshop B	Mr. Abhinandan Lala
	Glass Blowing Facility
Laser Physics Applications Section		Dr. H.S. Rawat
Indus Operations and Accelerator Physics - Design Division		Mr. P.R. Hannurkar
	Beam Dynamics Lab	Mr. A.D. Ghodke
	Survey and Alignment Lab	Mr. R.K. Sahu
	Indus Operation Coordination Lab	Mr. R.G. Marathe
	Coolant Systems Lab	Mr. R.M. Pandey
Construction and Services Division		Mr. S.S. Kulkarni
	Civil Engineering Section
	Electrical Engineering & Air-Conditioning Section
	Air-conditioning Cell	Mr. S. S. Kulkarni
	Horticulture Cell	Mr. Ravindra V. Joshi
Indus Synchrotrons Utilization Division		Dr. S. K. Deb
	SRS Coordination Section	Dr. S. K. Deb
	X-ray Optics Section	Dr. G. S. Lodha
	Materials Research Lab	Dr. Tapas Ganguli
Accelerator Magnet Technology Division		Mr. R.S. Shinde
Accelerator Control and Beam Diagnostics Division		Mr. C. P. Navathe
	Accelerator Control Section	Mr. Pravin Fatnani
	Beam Diagnostics Section	Mr. T. A. Puntambekar
RF Systems Division		Mr. P. R. Hannurkar
Materials and Advanced Accelerator Sciences Division		Dr. S. B. Roy
	Magnetic and Superconducting Materials Section	Dr. S. B. Roy
	Free Electron Laser Lab	Dr. Kamal Kumar Pant
	Accelerator and Beam Physics Lab	Dr. Vinit Kumar
	Mechanical Design and Engineering Lab	Mr. Sanjay Chouksey
Ultra High Vacuum Technology Division		Mr. S. K. Shukla
Power Supplies and Industrial Accelerator Division		Mr. A.C. Thakurta
	Industrial and Medical Accelerator Section	Mr. Jishnu Dwivedi
Proton Linac and Superconducting Cavities Division		Mr. S. C. Joshi
	Linac Components Design Study Lab	Mr. S. C. Joshi
	Cavity Joining and Qualification Lab	Mr. A. M. Puntambekar
	Ion Source Lab	Dr. Vinod Kumar Senecha
	Chemical Treatment Facility	Mr. P. Ram Sankar
Accelerator Components Design and Fabrication Section		Mr. Girdhar Mundra
Pulsed High Power Microwave Section		Mr. Purushottam Shrivastava
Cryo-engineering and Cryo-module Development Section		Mr. Pradeep Kumar Kush
	Cryo-Module Engineering Lab	Mr. Prashant Khare
Chairman, Apex Safety Committee		Dr. S. M. Oak
	Fire and Safety Section	Mr. S.M.Jalali
Chairman, Medical Advisory Committee		Dr. P. A. Naik
	Medical Centre	Dr. (Smt.) K. Chaddah
Chairman, Training School Committee		Dr. P. K. Gupta
	BARC Training School at RRCAT	Dr. Arup Banerjee
Chairman, Local Management Committee		Dr. P. D. Gupta
	Atomic Energy Central School	Mr. Rameshwar Singh Solanki
Director Office		Mr. B. Devadasan
Planning and Coordination Cell		Dr.(Smt.) M.S.Oak
Administration		Mr. Bijaya Kumar Jena
Administration Section-1		Sh. K. Ramesh
	Establishment Section	Sh. B. S. Muchhal
	Vigilance Section	Mr. Kamlesh Kumar Rambadia
	Recruitment Section	Mrs. Lakshmi S. Hatti
	General Section	Mr. Parivesh Jinwal
	Travel Cell	Mr. Shiv Dayal Meena
	Hindi Cell	Mr h. Jai Narain Soni
	Guest House	Mr. Ahmad Towheed
Administration Section-2		Mr. Krishnakumar V.
P. R. O		Mr. Pravin Sharma
	RRCAT Liaison Office (Mumbai)	Mr. Pravin Sharma
Security		Mrs. Ritu Rajan Chavan
Accounts		Mr. R. Sathyamurthy
Purchase and Salary		Mr. B. Satyanarayana
	Salary Section	Mr. Rajesh Topno
	Purchase Accounts	Mr. Milind Edlabadkar
Budget and Works
	Budget, Compilation, Finance and Miscellaneous
	Works	Mrs. Angela S. Pereira
Indore Regional Purchase and Stores Unit		Mr. R. Banwari
	IRPU	Mr. B. Saha
	APO	Mr. I Radha Krishna Dikshitulu
	APO	Mr. Manish Razdan
	IRSU	Mr. T. Kalaichelvan
	ASO	Mr. Thomas George

KEY EXECUTIVES

Name :	Mr. Bijaya Jena
Designation :	Chief Administrative Officer
Name :	Mr. R. Banwari
Designation :	Regional Director
Name :	Mr. R. Sathyamurthy
Designation :	Joint Controller (Finance and Accounts) [JC (F&A)]

BUSINESS DETAILS

Line of Business :

Research and Development in a Non-Nuclear front line Research Areas.

GENERAL INFORMATION

Customers :	Industries
No. of Employees :	Not Divulged
Bankers :	State Bank of India, Sukhnivas Branch, Indore, Madhya Pradesh, India (Tel No.: 91-731-2320591)

Banking Relations :	--
Auditors :	Not Divulged

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	No
8]	No. of employees	No
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	No
12]	Profitability for last three years	No
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	No
15]	Capital in the business	No
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	No
25]	Conduct of the banking account	--
26]	Buyer visit details	--
27]	Financials, if provided	No
28]	Incorporation details, if applicable	No
29]	Last accounts filed at ROC	No
30]	Major Shareholders, if available	No
31]	Date of Birth of Proprietor/Partner/Director, if available	No
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

WEBSITE DETAILS:

PROFILE:

Subject was established by the Department of Atomic Energy, India to expand the activities carried out at Bhabha Atomic Research Centre (BARC), Mumbai, in two frontline areas of science and technology namely Lasers and Accelerators.

On February 19, 1984 the President of India, Gyani Zail Singh, laid the foundation stone of the centre. Construction of laboratories and houses began in May 1984.

In June 1986, the first batch of scientists from BARC, Mumbai, moved to RRCAT and scientific activities were started.

Since then, the centre has rapidly grown into a premier institute for research and development in lasers, accelerators and their applications.

The RRCAT campus is spread over a 760 hectare picturesque site on the outskirts of Indore city. The campus encompasses laboratories, staff housing colony and other basic amenities like school, sports facilities, shopping complex, gardens etc.

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. 54.88
UK Pound	1	Rs. 83.54
Euro	1	Rs. 70.90

INFORMATION DETAILS

Information Gathered by :	PLK
Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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
DEFAULTERS
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		49

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	-

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