1. Summary Information

		Country	INDIA
Company Name	WIPRO GE HEALTHCARE PRIVATE LIMITED	Principal Name 1	TERRI SMITH BRESENHAM
Status	GOOD	Principal Name 2	MR. AZIM HASHAM PREMJI
		Registration #	08-016063
Street Address	NO.4, KADUGODI, INDUSTRIAL AREA, WHITEFIELD, BANGALORE – 560 067, KARNATAKA
Established Date	14.03.1990	SIC Code	--
Telephone#	91-80-25263121	Business Style 1	MANUFACTURER
Fax #	91-80-25263520	Business Style 2	TRADER
Homepage	http://www.wiproge.com	Product Name 1	MEDICAL EQUIPMENT
# of employees	NOT AVAILABLE	Product Name 2	--
Paid up capital	RS.105,114,230/-	Product Name 3	--
Shareholders	FOREIGN HOLDINGS – 51.00% BODIES CORPORATE – 49.00%	Banking	STANDARD CHARTERED GRINDLAYS BANK LIMITED
Public Limited Corp.	NO	Business Period	23 YEARS
IPO	NO	International Ins.	--
Public Enterprise	NO	Rating	A (64)
Related Company
Relation	Country	Company Name	CEO
SUBSIDIARY COMPANIES	INDIA	GE HEALTHCARE PRIVATE LIMITED	--
Note	--

2. Summary Financial Statement

Balance Sheet as of	31.03.2012		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	7,047,100,000	Current Liabilities	7,531,300,000
Inventories	2,600,600,000	Long-term Liabilities	201,100,000
Fixed Assets	1,445,800,000	Other Liabilities	799,000,000
Deferred Assets	185,500,000	Total Liabilities	8531,400,000
Invest& other Assets	2,919,100,000	Retained Earnings	5,561,600,000
		Net Worth	5,666,700,000
Total Assets	14,198,100,000	Total Liab. & Equity	14,198,100,000
Total Assets (Previous Year)	12,748,207,000
P/L Statement as of	31.03.2012		(Unit: Indian Rs.)
Total Income	18,122,100,000	Net Profit	97,900,000
Total Income (Previous yr)	15,648,228,000	Net Profit(Prev.yr)	753,359,000

MIRA INFORM REPORT

Report Date :

15.01.2013

IDENTIFICATION DETAILS

Name :	WIPRO GE HEALTHCARE PRIVATE LIMITED (w.e.f. 16.01.2007)
Formerly Known As :	WIPRO GE MEDICAL SYSTEMS PRIVATE LIMITED
Registered Office :	No.4, Kadugodi, Industrial Area, Whitefield, Bangalore – 560 067, Karnataka
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	14.03.1990
Com. Reg. No.:	08-016063
Capital Investment / Paid-up Capital :	Rs.105.100 millions
CIN No.: [Company Identification No.]	U33111KA1990PTC016063
TAN No.: [Tax Deduction & Collection Account No.]	BLRW00054F
PAN No.: [Permanent Account No.]	AAACW1685J
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Trader of Medical Equipment, it is also engaged in providing software services and technology solutions.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

A (64)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 22667000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a subsidiary of ‘General Electric Company, USA’. It is a well-established and a reputed company having a fine track record. There appears better growth in its sales turnover during 2012 however there also appears continuous dip in the profitability. However, financial position of the company appears to be good. Directors are well-experienced and knowledgeable businessmen. Trade relations are reported as trustworthy. Business is active. Payment terms are regular and as per commitment. The company can be considered good 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.

LOCATIONS

Registered Office :	No.4, Kadugodi, Industrial Area, Whitefield, Bangalore – 560 067, Karnataka, India
Tel. No.:	91-80-25263121/ 28452933/ 28452925/ 28452926
Fax No.:	91-80-25263520/ 28452924
E-Mail :	nandakumar.sreedharan@ge.com vraja@geind.ge.com
Website :	http://www.wiproge.com
Branch Office :	881, Solitaire Corporate Part, 167, Guru Hargovindji Marg, Andheri – Ghatkopar Link Road, Chakala, Andheri (East) – Mumbai – 400 093, Maharashtra, India
Tel. No.:	91-22-28393926
Fax No.:	91-22-28393702

DIRECTORS

As on 10.07.2012

Name :

Terri Smith Bresenham

Designation :

Managing Director

Address :

9124, Aspen Grove Lane, Madison WI 53717, USA

Date of Birth/Age :

16.12.1960

Date of Appointment :

14.11.2011

DIN No.:

05104069

Name :

Mr. Azim Hasham Premji

Designation :

Director

Address :

No.75, 133, 135/1, 136/1, Doddakannalli Village, Sarjapur Road, Bangalore – 560 035, Karnataka, India

Date of Birth/Age :

24.09.1945

Date of Appointment :

30.03.1990

PAN No.:

AIRPP9181G

DIN No.:

00234280

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	L32102KA1945PLC020800	WIPRO LIMITED	Managing director	31/07/2011	01/09/1968	-	Active	NO
2	U65993KA1974PTC024191	NAPEAN TRADING AND INVESTMENT COMPANY PRIVATE LIMITED	Director	06/06/1974	06/06/1974	-	Active	NO
3	U65993KA1974PTC024195	VIDYA INVESTMENT AND TRADING COMPANY PRIVATE LIMITED	Director	11/09/1974	11/09/1974	-	Active	NO
4	U65993KA1974PTC024192	REGAL INVESTMENT AND TRADING COMPANY PRIVATE LIMITED.	Director	11/09/1974	11/09/1974	-	Active	NO
5	U67120MH1974PTC017911	HASHAM PREMJI PRIVATE LIMITED	Director	11/11/1974	11/11/1974	01/09/2012	Active	NO
6	U65993KA1981PTC024196	PRAZIM TRADING AND INVESTMENT COMPANY PRIVATE LIMITED	Director	13/11/1981	13/11/1981	-	Active	NO
7	U67120MH1983PTC029943	HASHAM INVESTMENT AND TRADING CO PVT LTD	Director	10/05/1983	10/05/1983	-	Active	NO
8	U65993KA1983PTC024193	ZASH INVESTMENT AND TRADING COMPANY PRIVATE LIMITED	Director	10/05/1983	10/05/1983	-	Active	NO
9	U65993KA1983PTC024194	TARISH INVESTMENT AND TRADING COMPANY PRIVATE LIMITED.	Director	19/05/1983	19/05/1983	-	Active	NO
10	U33111KA1990PTC016063	WIPRO GE HEALTHCARE PRIVATE LIMITED	Director	30/03/1990	30/03/1990	-	Active	NO
11	U65999KA2000GAT026421	AZIM PREMJI FOUNDATION (I) PRIVATE LIMITED	Director	18/02/2000	18/02/2000	-	Active	NO
12	U93090KA2001NPL028740	AZIM PREMJI FOUNDATION	Director	09/03/2001	09/03/2001	-	Active	NO
13	U72900KA2000PLC027551	WIPRO INFRASTRUCTURE ENGINEERING LIMITED	Nominee director	19/02/2003	19/02/2003	-	Amalgamated	NO
14	U74999KA2009PTC051742	AZIM PREMJI TRUSTEE COMPANY PRIVATE LIMITED	Whole-time director	04/12/2009	04/12/2009	-	Active	NO
15	U80301KA2009NPL051792	AZIM PREMJI FOUNDATION FOR DEVELOPMENT	Whole-time director	09/12/2009	09/12/2009	-	Active	NO
16	U74900KA2010PTC054356	AZIM PREMJI TRUST SERVICES PRIVATE LIMITED	Whole-time director	05/07/2010	05/07/2010	-	Active	NO
17	U67190KA2010PTC054809	AZIM PREMJI SAFE DEPOSIT COMPANY PRIVATE LIMITED	Whole-time director	17/08/2010	17/08/2010	-	Active	NO
18	U67190KA2010PTC054808	AZIM PREMJI CUSTODIAL SERVICES PRIVATE LIMITED	Whole-time director	17/08/2010	17/08/2010	-	Active	NO

Name :

Mr. Suresh Chandra Senapaty

Designation :

Director

Address :

301, Bridge Lavelle 1, Lavelle Road, Bangalore – 560 001, Karnataka, India

Date of Birth/Age :

03.03.1957

Date of Appointment :

25.01.1995

DIN No.:

00018711

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	U93090KA1982PLC021795	WIPRO TRADEMARKS HOLDING LIMITED	Director	02/01/1995	02/01/1995	02/07/2012	Active	NO
2	U24246KA1982PLC021796	WIPRO CHANDRIKA LIMITED.	Nominee director	02/01/1995	02/01/1995	02/07/2012	Active	NO
3	U33111KA1990PTC016063	WIPRO GE HEALTHCARE PRIVATE LIMITED	Director	25/01/1995	25/01/1995	-	Active	NO
4	U91200KA1996PLC020622	WIPRO TRAVEL SERVICES LIMITED	Nominee director	10/06/1996	10/06/1996	02/07/2012	Active	NO
5	U72200KA2000PLC027405	WEP PERIPHERALS LIMITED	Director	25/07/2000	25/07/2000	05/01/2007	Active	NO
6	U64202KA2000PLC034668	WIPRO BPO SOLUTIONS LIMITED	Director	29/10/2001	29/10/2001	-	Amalgamated	NO
7	U72900KA2000PLC027551	WIPRO INFRASTRUCTURE ENGINEERING LIMITED	Nominee director	15/04/2002	15/04/2002	-	Amalgamated	NO
8	U85199KA2000PLC027715	WIPRO HEALTHCARE IT LIMITED	Nominee director	31/08/2002	31/08/2002	-	Amalgamated	NO
9	U02424KA2003PLC032810	WIPRO CONSUMER CARE LIMITED	Nominee director	03/11/2003	03/11/2003	02/07/2012	Active	NO
10	U45990MH1981PTC025536	CYGNUS NEGRI INVESTMENTS PRIVATE LIMITED	Nominee director	01/04/2004	01/04/2004	02/07/2012	Active	NO
11	U72200KA2003PTC040724	MPACT TECHNOLOGY SERVICES PRIVATE LIMITED	Director	24/07/2006	29/12/2005	-	Amalgamated	NO
12	U74140KA2003PTC040723	MPOWER SOFTWARE SERVICES (INDIA) PRIVATE LIMITED	Director	25/07/2006	29/12/2005	-	Amalgamated	NO
13	U72200MH2000PTC129630	CMANGO INDIA PRIVATE LIMITED	Director	04/04/2006	04/04/2006	-	Amalgamated	NO
14	U72200AP2001PLC036915	QUANTECH GLOBAL SERVICES LIMITED	Director	01/01/2007	01/01/2007	-	Amalgamated	NO
15	L32102KA1945PLC020800	WIPRO LIMITED	Whole-time director	18/04/2008	18/04/2008	-	Active	NO
16	U72200MH2004PLC148615	WIPRO TECHNOLOGY SERVICES LIMITED	Nominee director	20/01/2009	20/01/2009	02/07/2012	Active	NO
17	U72200KA2009PLC051272	WIPRO AIRPORT IT SERVICES LIMITED	Director	22/10/2009	22/10/2009	29/01/2010	Active	NO

Name :

Mr. Pratik Kumar

Designation :

Director

Address :

421/A, Palm Meadows, 2, Whitefield Road, Ramagondanahalli, Bangalore – 560 066, Karnataka, India

Date of Birth/Age :

23.10.1965

Date of Appointment :

02.05.2002

DIN No.:

00328453

Name :

Manjaree Chowdhary

Designation :

Alternate Director

Address :

House No.239, Sector 15, Part - 1, Gurgaon – 122 001, Haryana, India

Date of Birth/Age :

20.10.1965

Date of Appointment :

15.05.2012

DIN No.:

03402143

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	U72200AP2006PTC049113	MEDPLEXUS INDIA PRIVATE LIMITED	Director	26/09/2011	21/03/2011	-	Active	NO
2	U33111KA1990PTC016063	WIPRO GE HEALTHCARE PRIVATE LIMITED	Alternate director	15/05/2012	15/05/2012	-	Active	NO

Name :

Mr. Thomas Charles III Gentile

Designation :

Director

Address :

6855, Albefly LN, Cincinnati, Ohio-45243, USA

Date of Birth/Age :

19.09.1968

Date of Appointment :

11.07.2011

DIN No.:

03567319

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	U33111KA1990PTC016063	WIPRO GE HEALTHCARE PRIVATE LIMITED	Director	11/07/2011	13/06/2011	-	Active	NO

Name :

Mr. Kurien Tekkethalakal Kurien

Designation :

Director

Address :

402, Skyline Apartment, Languord Road, Bangalore – 560 025, Karnataka, India

Date of Birth/Age :

17.11.1958

Date of Appointment :

23.09.2010

DIN No.:

03009368

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	U33111KA1990PTC016063	WIPRO GE HEALTHCARE PRIVATE LIMITED	Director	23/09/2010	17/03/2010	-	Active	NO
2	L32102KA1945PLC020800	WIPRO LIMITED	Whole-time director	01/02/2011	01/02/2011	-	Active	NO

Name :

Frank Maria Schulkes

Designation :

Director

Address :

82, Route Sainte Gemme, 78860, Saiont Nom LA, Breteche, France

Date of Birth/Age :

20.12.1961

Date of Appointment :

07.03.2005

DIN No.:

00255834

Name :

Mr. John Leonard Flannery

Designation :

Director

Address :

75, Olmstead Hill Road, Wilton CT-06897, USA

Date of Birth/Age :

19.08.1961

Date of Appointment :

23.09.2010

DIN No.:

02885694

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	U74140DL1998PTC094577	GE CAPITAL BUSINESS PROCESS MANAGEMENT SERVICES PRIVATE LIMITED	Director	27/09/2010	22/12/2009	-	Active	NO
2	U65999DL1998PTC093849	SBI CARDS AND PAYMENT SERVICES PRIVATE LIMITED.	Director	27/09/2010	22/12/2009	-	Active	NO
3	U33111KA1990PTC016063	WIPRO GE HEALTHCARE PRIVATE LIMITED	Director	23/09/2010	17/03/2010	-	Active	NO
4	U29253KA2010PLC053834	GE TRIVENI LIMITED	Nominee director	25/08/2011	01/11/2010	-	Active	NO

Name :

Mr. Rishad Azim Premji

Designation :

Director

Address :

46, F.B. Desai Road, Mumbai – 400 026, Maharashtra, India

Date of Birth/Age :

19.01.1977

Date of Appointment :

23.09.2010

DIN No.:

02983899

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	U93090KA2001NPL028740	AZIM PREMJI FOUNDATION	Director	29/09/2009	18/10/2008	-	Active	NO
2	U33111KA1990PTC016063	WIPRO GE HEALTHCARE PRIVATE LIMITED	Director	23/09/2010	17/03/2010	-	Active	NO

Name :

Mr. Joydeep Nag

Designation :

Alternate Director

Address :

D-1203, Brigade Metro Polis, Whitefield Road, Mahadevpura, Bangalore – 560 048, Karnataka, India

Date of Birth/Age :

26.10.1963

Date of Appointment :

15.05.2012

DIN No.:

01501037

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	U24232WB2000PTC091267	DATEX OHMEDA (INDIA) PRIVATE LIMITED	Director	07/08/2006	07/08/2006	-	Active	NO
2	U31909KA1996PTC020482	GE BE PRIVATE LIMITED	Director	20/07/2007	22/03/2007	01/08/2012	Active	NO
3	U72200AP2006PTC049113	MEDPLEXUS INDIA PRIVATE LIMITED	Director	26/09/2011	21/03/2011	-	Active	NO
4	U33111KA1990PTC016063	WIPRO GE HEALTHCARE PRIVATE LIMITED	Alternate director	15/05/2012	15/05/2012	-	Active	NO
5	U51909DL1997PTC126131	LOUIS DREYFUS COMMODITIES INDIA PRIVATE LIMITED	Additional director	03/12/2012	03/12/2012	-	Active	NO

Name :

Keiran Pius Murphy

Designation :

Director

Address :

Moat Pius Farm, Upend New Market, CB8, 9PH, Suffolk, Pin Code 66400, Ireland

Date of Birth/Age :

03.12.1967

Date of Appointment :

11.07.2011

DIN No.:

03574010

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	U33111KA1990PTC016063	WIPRO GE HEALTHCARE PRIVATE LIMITED	Director	11/07/2011	13/06/2011	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Dinesh Kumar Lodha
Designation :	Secretary
Address :	NOB1/201, Riffcoarunta E Apartments, Airport Road, Bangalore – 560 056, Karnataka, India
Date of Birth/Age :	25.12.1971
Date of Appointment :	07.10.2011
Pan No.:	AAZPL3330K

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 10.07.2012

Names of Shareholders	No. of Shares
Wipro Limited, India	5150597
General Electric, USA	5360825
GE Pacific Holdings Pte. Limited, Singapore	1
Total	10511423

As on 10.07.2012

Equity Share Breakup	Percentage of Holding
Category
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	51.00
Bodies corporate	49.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Trader of Medical Equipment, it is also engaged in providing software services and technology solutions.

Products :

Item Code No. (ITC Code)	90181210
Product Description	Ultrasound

PRODUCTION STATUS (AS ON 31.03.2011)

Particulars	Unit	Actual Production*
Diagnostic ultrasound systems, equipment and accessories	Nos.	8757
Medical electronic diagnostic imaging products	Nos.	32654

Note:

1. Company products are not covered under license and licensed capacity is accordingly not disclosed.

2. Installed capacities and production are as certified by the management and have not been verified by the auditors as this is a technical matter.

3. *Production of medical equipments is primarily an assembly operation and there is no defined installed capacity.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

v The Hongkong and Shanghai Banking Corporation Limited, Manipal Centre, Bangalore – 560 042, Karnataka, India

v Standard Chartered Grindlays Bank Limited, M.G. Road, Bangalore – 560 001, Karnataka, India

v Corporation Bank, Industrial Finance Branch, Rallaram Building, No.30, Mission Road, Bangalore – 560 027, Karnataka, India

v CITI Bank N.A. Bangalore, Karnataka, India

Facilities :

Secured Loan	31.03.2012 (Rs. in Millions)
Long-term Borrowings
Long-term maturities of finance lease obligations (Finance lease obligations are secured by hypothecation of vehicles and office equipments taken on lease.)	127.600
Total	127.600

Unsecured Loan	31.03.2012 (Rs. in Millions)
Long-term Borrowings
Loans repayable on demand from banks (It indicates Receivables purchase facility*. * Secured by charge on underlying receivable.)	61.200
Short-term Borrowings
Loans repayable on demand from banks (It indicates Receivables purchase facility*. * Secured by charge on underlying receivable from Narayana Hrudalaya.)	12.300
Total	73.500

Secured Loan	31.03.2011 (Rs. in Millions)
Finance lease obligation long term	162.396
Total	162.396

Banking Relations :	--
Auditors :
Name :	BSR and Company Chartered Accountants
Address :	Maruthi Infotech Centre, 11-12/1, Inner Ring Road, Koramangala, Bangalore - 560 071, Karnataka, India
Tel. No.:	91-80-39806000
Fax No.:	91-80-39806999
Income-tax PAN of auditor or auditor's firm :	AADFB6889R
Holding and Ultimate Holding company :	General Electric Company, USA
Subsidiary Companies :	v GE Healthcare Private Limited, India (CIN No.: U00899DL2003PTC136412) v GE Medical Systems (India) Private Limited, India (CIN No.: U31909KA2004PTC034146) v GE Medical Systems Limited, Bangladesh
Other related parties with whom transactions have taken place during the year Substantial interest	Wipro Limited (‘Wipro’) holds 49% shares of the Company
Parties under common control :	v Ambassador Medical Inc, USA v Amersham Health India Private Limited, India v Breas Medical Ab, Sweden v Corp Properties and Services Op, USA v Datex Ohmeda (India) Private. Limited, India v Datex Ohmeda Inc, USA v Datex-Ohmeda Srl, Italy v Ge Healthcare Limited, New Zealand v Ge Accounting Services Operation - Hq, USA v Ge Canada - Et&L, Canada v Ge Capital Services Inc, USA v Ge Cbsi - Lakeland, USA v Ge China Co., Limited., China v Ge Company Corporate Staff, USA v Ge Consumer and Industrial Sa, Switzerland v Ge Corp It - Gis, USA v Ge Corp It- Marketing Headquarters, USA v Ge Corporate Crotonville Center, USA v Ge Corporate R&D, USA v Ge Elseif Saudi Arabia, Saudi Arabia v Ge Enterprise Development (Shanghai) Co Limited, China v Ge Hangwei Medical Systems Co.Limited, China v Ge Wind Enegry Private Limited, India v Ge Healthcare Bio-Sciences Ab, Sweden v Ge Healthcare Bio-Sciences Limited, Singapore v Ge Healthcare Brazil (Gebsa), Brazil v Ge Healthcare Bvba, Belgium v Ge Healthcare Canada, Canada v Ge Healthcare Clinical Systems (Sas, France), France v Ge Healthcare Clinical Systems (UK) Limited, UK v Ge Healthcare Clinical Systems B.V., Netherlands v Ge Healthcare Clinical Systems Equipamentos Medicos Limiteda, Brazil v Ge Healthcare Clinical Systems Norway As, Norway v Ge Healthcare Clinical Systems Sl, Spain v Ge Healthcare Finland Oy, Finland v Ge Healthcare Finland Oy - Xray, Finland v Ge Healthcare Global Parts Company, Inc, Singapore v Ge Healthcare Iits Llc, USA v Ge Healthcare Iits USA Corp., USA v Ge Healthcare Information Technologies Gmbh and Co Kg., Germany v Ge Healthcare It Ab, Sweden v Ge Healthcare Japan Corporation, Japan v Ge Healthcare Korea, Korea v Ge Healthcare Limited, UK v Ge Hualun Medical Systems Co Limited, China v Ge India Business Services Private Limited, India v Ge India Exports Private Limited, India v Ge India Industrial Private Limited, India v Ge India Technology Centre Private Limited, India v Ge Klinik Sistemler Ticaret A.S, Turkey v Ge Med. China Holding Co., China v Ge Medical Systems (China) Co Limited, China v Ge Zenith Controls, USA v Ge Medical Systems (Thailand) Limited., Thailand v Ge Medical Systems Australia Pty Limited., Australia v Ge Medical Systems Finland Branch Office, Finland v Ge Medical Systems Hong Kong Limited, Hong Kong v Ge Medical Systems Hungary, Hungary v Ge Medical Systems Information Technology, USA v Ge Medical Systems Israel Limited, Israel v Ge Medical Systems Kretztechnik Gmbh and Co Ohg, Austria v Ge Medical Systems Limited, UK v Ge Medical Systems Middle East Egypt, Egypt v Ge Medical Systems Mke Parent, USA v Ge Medical Systems S.A. France, France v Ge Medical Systems T&D (Shanghai) Co. Limited, China v Ge Medical Systems Taiwan Limited, Taiwan v Ge Medical Systems Ultrasound And Primary Care Diagnostics Llc, USA v Ge Mms Japan, Japan v Ge Oec Medical Systems, USA v Ge Oec Medical Systems Gmbh, Germany v Ge Pacific Holdings Pte. Limited, Singapore v Ge Parallel Design, USA v Ge Ultraschall Deutschland Gmbh and Co. Kg, Germany v Ge Ultrasound Korea, Korea v Ge Vingmed Ultrasound A/S, Norway v Ge Be Private Limited, India v Gehc Clinical Systems (Wuxi)Limited Co, China v Geii (General Electric International Inc), USA v Geii Malaysia, Malaysia v Gems Global Technology Co. Llc, USA v Gems Israel Functional Imaging, Israel v Gems It Hong Kong, Hong Kong v Gems Pet Systems Ab, Sweden v Gems-It Gmbh, Germany v Ge Capital Transportation Financial Services Limited, India v General Electric International, Inc. - Branch - Nz, USA v General Medical Finland Oy, Finland v Ifo and Other Corp, USA v Medical Systems - Division Of Ge Pacific Pte Limited - Seatink, Singapore v Oec Germany (Gemse) (H01155), Germany v Parallel Design Sas, France v Pt Ge Operations Indonesia, Indonesia v USA Instruments Inc, USA v Versamed Medical Systems Limited, Israel v Vital Signs, Inc., USA v GE Medical system (Nanjing Co) Limited, China v Yokogawa Medical System Limited, Japan v GE Med Sys Information technology Gmbh, Germany v GE Med Sys Information technology Inc, Milwavkee v GE Capital Healthcare Financial Services Limited, India v GE Global Sourcing India Private Limited, India v GE Money Financial Services Limited, India v Monogram Licensing International Inc., USA v GE Hungary, Hungary v GE Healthcare Clinical Systems SPA, Italy v Biomed Medical System, Spain v GE Corp Comp ACCTG FRGN L/B, USA v GE International Operations, Jordon v ACAM Holdings UK, UK v ACAM Overseas Holdings, UK v Ge CBSI, USA v Ge Pacific Mauritius Limited, Mauritius

CAPITAL STRUCTURE

As on 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
11000000	Equity Shares	Rs.10/- each	Rs.110.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10511423	Equity Shares	Rs.10/- each	Rs.105.100 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2012	31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		105.100	105.114	105.114
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		5561.600	5463.085	4703.692
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		5666.700	5568.199	4808.806
LOAN FUNDS
1] Secured Loans		127.600	162.396	139.487
2] Unsecured Loans		73.500	0.000	0.000
TOTAL BORROWING		201.100	162.396	139.487
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		5867.800	5730.595	4948.293
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1445.800	1371.067	981.575
Capital work-in-progress		52.400	108.521	20.139
INVESTMENT		2866.700	3456.458	0.211
DEFERRED TAX ASSETS		185.500	139.038	162.846
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	2600.600	1921.096	1268.275
	Sundry Debtors	3837.400	3933.487	3362.623
	Cash & Bank Balances	910.600	219.906	4483.874
	Other Current Assets	491.100	0.000	0.000
	Loans & Advances	1808.000	1598.634	1238.564
Total Current Assets		9647.700	7673.123	10353.336
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	4640.800	2778.387	2495.333
	Other Current Liabilities	2890.500	3611.998	3527.714
	Provisions	799.000	627.227	546.767
Total Current Liabilities		8330.300	7017.612	6569.814
Net Current Assets		1317.400	655.511	3783.522
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		5867.800	5730.595	4948.293

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	18122.100	15648.228	12566.904
		Other Income			433.178
		TOTAL (A)	18122.100	15648.228	13000.082
Less	EXPENSES
		Material Cost	17711.000	14208.327	8993.683
		Personnel Costs			1031.852
		Other Expenditure			1398.474
		TOTAL (B)	17711.000	14208.327	11424.009
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		411.100	1439.901	1576.073
Less	INTEREST & INANCIAL EXPENSES (D)		181.800	135.014	70.137
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		229.300	1304.887	1505.936
Less/ Add	DEPRECIATION/ AMORTISATION (F)		173.000	149.107	90.542
	PROFIT BEFORE TAX (E-F) (G)		56.300	1155.780	1415.394
Less	TAX (H)		(41.600)	402.421	480.914
	PROFIT AFTER TAX (G-H) (I)		97.900	753.359	934.480
	BALANCE CARRIED TO THE B/S		97.900	753.359	934.480
	EARNINGS IN FOREIGN CURRENCY		6520.500	5759.219	3738.410
	IMPORTS
		Raw Materials	NA	NA	1318.068
		Capital Goods	NA	NA	86.759
	TOTAL IMPORTS		NA	NA	1404.827
	Earnings Per Share (Rs.)		9.31	71.67	88.90

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	0.54	4.81	7.18
Net Profit Margin (PBT/Sales)	(%)	NA	NA	11.26
Return on Total Assets (PBT/Total Assets}	(%)	3.89	12.78	12.48
Return on Investment (ROI) (PBT/Networth)		0.01	0.21	0.29
Debt Equity Ratio (Total Liability/Networth)		1.51	1.29	1.39
Current Ratio (Current Asset/Current Liability)		1.16	1.09	1.57

LOCAL AGENCY FURTHER INFORMATION

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	Yes
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) Date of Birth of Proprietor/Partner/Director, if available	Yes
32) PAN 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

Note:

The registered office of the company has been shifted from A-1, Golden Enclave, Airport Road, Bangalore - 560 017, Karnataka, India to the present address w.e.f. 20.12.2011.

COMPANY OVERVIEW

The Company a private limited Company is a joint venture between General Electric Company, USA (‘GE’ or ‘the parent’) and Wipro Limited (‘Wipro’). The Company is focused towards healthcare segment in South Asia. The Company manufactures and trades in medical equipment. Further, it is also engaged in providing software services and technology solutions to its parent for products manufactured worldwide.

In the previous year, pursuant to the Scheme of arrangement, the Company had acquired the assets and liabilities of GE Healthcare Bio-Sciences Limited - India Branch Office, in accordance with the provision of slump sale under section 50B of the Income Tax Act, 1961.

Further, in the previous year, the Company had purchased 18013133 equity shares of GE Medical Systems India Private Limited, India (‘GEMS’), a private limited Company at a cost of Rs.3160.161 millions and 450099 equity shares of GE Healthcare Private Limited, India (‘GEH’) a private limited Company at a cost of Rs.296.085 millions. Consequent to the acquisition of these shares, GEMS and GEH became wholly owned subsidiaries of the Company.

OPERATIONS

The Company’s gross turnover increased over the previous year, aided by growth in the Healthcare Systems largely driven by government and enterprise segments. The Company is continuing its force to drive volumes in India and neighboring countries. The company has introduced new products in the matter as per its “In country for Country” strategy. The Company was able to maintain its profitability during the year.

AMALGAMATIONS

Acquisitions and share purchase

(a) During the previous year ended 31^st March 2011, the Company had entered into a Business Transfer Agreement (‘BTA’) with GE Healthcare Bio-Sciences Limited, Hongkong, dated 30 March 2010. The effective date as per the terms of the agreement was 1^st April 2010. As per the terms of BTA, the Company has acquired the following assets and liabilities pertaining to the India Branch office of GE Healthcare Bio-Sciences Limited, Hongkong at an aggregate consideration of Rs.315.300 millions. The sale was in accordance with slump sale under Section 50B of the Income Tax Act, 1961.

(Rs in millions)

Description	31^st March 2010 (Audited) *	Fair value of assets/ liabilities taken over
Assets
Fixed assets (A)	27.700	27.700
Deferred tax assets (B)	16.600	0.000
Current assets
Inventories	6.600	6.600
Sundry debtors	15.900	15.900
Cash and bank balances	23.100	23.100
Loans and advances	17.200	17.200
Total of current assets (C)	62.800	62.800
Total of assets (D) = (A+B+C)	107.100	90.500
Liabilities
Secured loans (E)	6.300	6.300
Current liabilities (F)	95.000	95.000
Provisions (G)	14.600	14.600
Total of liabilities (H) = (E+F+G)	115.900	115.900
Net liabilities taken over (H) – (D)	8.800	25.400
Purchase consideration (J)		315.300
Goodwill (K) = (I) + (J)		340.700

* audited financial statements of GE Healthcare Bio-Sciences Limited, India branch office as at 31^st March 2010.

(b) During the previous year ended 31^st March 2011, the Company, vide its Share Purchase Agreement dated 30^th March 2010, had purchased 18013133 equity shares (99.99%) in GE Medical Systems (India) Private Limited (GEMS) (a Company under the same Management in accordance with Section 370(1)(b) of the Companies Act, 1956). The effective date of the agreement was 1^st April 2010. These shares were bought from GE Pacific Pte. Limited, Singapore, the existing share holder of GEMS as at 31^st March 2010 at a consideration of Rs.3160.200 millions (including stamp duty amounting to Rs.8.600 millions). The remaining one share was bought by Joydeep Nag (Chief Financial Officer of the Company) in the capacity of a nominee shareholder from GE Pacific (Mauritius) Limited, Mauritius. Pursuant to this agreement, the Company has become the holding company of GE Medical Systems (India) Private Limited.

(c) During the previous year ended 31 March 2011, the Company, vide its Share Purchase Agreement dated 30^th March 2010, had purchased 450099 equity shares (99.99%) in GE Healthcare Private Limited (GEH) (a Company under the same Management in accordance with Section 370(1)(b) of the Companies Act, 1956). The effective date of the agreement was 1^st April 2010. These shares were bought from ACAM Overseas Holdings, UK, and ACAM Holdings (UK), UK, the existing share holders of GEH as at 31^st March 2010 at consideration of Rs.296.100 millions (including stamp duty amounting to Rs.0.800 million). The remaining one share was bought by Joydeep Nag in the capacity of a nominee share holders from ACAM Holdings (UK), UK. Pursuant to this agreement, the Company has become the holding company of GE Healthcare Private Limited.

d) During the year GE Medical Systems (India) Private Limited bought back 3361600 equity shares of face value of Rs.10 each (investment @ Rs.175 per share) @ Rs.190 per share. The profit on sale of shares amounting to Rs.49.000 millions has been disclosed under other income.

CONTINGENT LIABILITIES:

Particulars	31.03.2012 (Rs. in millions)	31.03.2011 (Rs. in millions)
a) Bank guarantees including commitments	--	--
b) Claims against the Company not acknowledged as debts (including interest and penalty demanded)
- Sales tax	115.300	9.200
- Income tax [note (c), (d), (e), (f), (g) and (h)]	1602.500	1407.600
- Litigations	6.900	7.300

c) The Company had received notice of demand dated 29^th December 2006 for Rs.23.900 millions including an interest component of Rs.6.800 millions from the income tax authorities relating to the assessment year 2000-2001. The demand is primarily on account of denial of Section 10A of the Income Tax Act, 1961 exemption. The Company has preferred an appeal before the appellate authority and based on the expert advice believes that the matter will be decided in its favour.

d) In the earlier years the Company had received a demand of Rs.804.200 millions on account of certain disallowances and transfer pricing adjustments for Assessment years 2002-2003, 2003-2004 and 2004-2005. However, the Income Tax Appellate Tribunal vide its order dated 16^th May 2008 has granted a relief to the Company on account of disallowances made by the Assessing officer and has restored back the matter pertaining to transfer pricing adjustments to the Assessing Officer for fresh consideration. Resultantly, the fresh demand cannot be ascertained as the revised assessment order in this regard is yet to be received by the Company.

e) The Company had received an assessment order dated 29^th December 2008 for Rs.552.200 millions including an interest component of Rs.169.500 millions from the income tax authorities relating to the assessment year 2005-2006. The demand is primarily on account of transfer pricing adjustments and partial denial of Section 10A of the Income Tax Act, 1961 exemption and Rs.24.200 millions towards other adjustment. In the previous year, the Company has received a revised assessment order dated 17^th January 2011 passed by Commissioner of Income Tax (Appeals) wherein the demand has been reduced to Rs.220.200 millions. The revenue authorities have filed appeal with higher appellate authorities against the order of Commissioner of Appeals and the same is pending disposal. Based on the expert advice, the Company believes that the matter will be decided in Company’s favour.

f) The Company had received draft assessment order dated 17^th December 2009 for Rs.299.200 millions including an interest component of Rs.89.100 millions from the income tax authorities relating to the assessment year 2006-2007. The demand was primarily on account of transfer pricing adjustments and partial denial of exemption under Section 10A of the Income Tax Act, 1961. In the Previous year, the Company has received the revised assessment order under Section 154 of the Income Tax Act, 1961, dated 21 December 2010 wherein the demand has been increased to Rs.317.000 millions. In August 2011, ITAT passed an order directing assessing officer (AO) to give fair opportunity of hearing to the Company while determine the arm length pricing. The case is now pending with AO. The Company has preferred an appeal before the appellate authority and based on the expert advice believes that the matter will be decided in its favour.

g) The Company has received an assessment order dated 25^th February 2011 for Rs.842.800 millions including an interest component of Rs.269.900 millions from the income tax authorities relating to the assessment year 2007-2008. The demand is primarily on account of transfer pricing adjustments and partial denial of exemption under Section 10A of the Income Tax Act, 1961. The Company has preferred an appeal before the Commissioner of Income Tax (Appeals) and based on the expert advice believes that the matter will be decided in its favour.

h) During the current year, the Company has received an assessment order dated 10^th March 2011 and 29^th March 2011 for Rs.194.300 millions including an interest component of Rs.61.800 millions from the income tax authorities relating to the assessment year AY2008-09, AY2009-10, AY2010-11 and AY2011-12. The demand is primarily on account of TDS short deduction/collection and TDS on salary component (Medical Allowances) of the Income Tax Act, 1961. The Company has preferred an appeal before the Commissioner of Income Tax (Appeals) and based on the expert advice believes that the matter will be decided in its favour. As such, additional provisions have not been deemed necessary in their financial statements, as they are not probable or estimable.

FIXED ASSETS:

Intangible Assets

v Computer Software

v Licenses and technical Know how

v Drawing and designs

v Brand Valuation

v Goodwill

Tangible Assets

v Freehold land

v Furniture and Fixture

v Buildings

v Plant and Machinery

v Air conditioner and Office Equipment

v Data Processing Equipment

v Leased Assets

WEBSITE DETAILS:

PRESS RELEASE:

WIPRO GE HEALTHCARE PRIVATE LIMITED - PRODUCT PIPELINE ANALYSIS – NEW COMPANY PROFILE REPORT

London 29.08.2012

Wipro GE Healthcare Private Limited - Product Pipeline Analysis - Wipro GE Healthcare Private Limited (Wipro GE) is a healthcare company and is a part of GE Healthcare South Asia. The company focuses on medical imaging and information technologies, medical diagnostics, patient monitoring systems, disease research, drug discovery, and biopharmaceutical manufacturing technologies. Some of the major business activities of company include design and manufacture of ultrasound scanners, CT scanners, non-invasive cardiology products, and software and technology solutions. Wipro GE's products and services enhance the ability to diagnose and treat cancer, heart diseases, neurological diseases and other conditions in the initial stages. The company's products find their applications in cardiology, neurology, emergency medicine, oncology, women's health, ENT, musculoskeletal, emergency care, radiology, pediatrics, urology and obstetrics/gynecology areas. The company is a joint venture between Wipro Limited and General Electric Company. Wipro GE is headquartered in Bangalore, India.

This report is a source for data, analysis and actionable intelligence on the Wipro GE Healthcare Private Limited portfolio of pipeline products. The report provides detailed analysis on each pipeline product with information on the indication, the development stage, trial phase, product milestones, pipeline territory, estimated approval date, and estimated launch date.

Each pipeline product is profiled to cover information on product description, function, technology, indication, and application. The report is also supplemented with a detailed company profile and information on clinical trials, wherever applicable.

This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by our team of industry experts.

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.54.64
UK Pound	1	Rs.88.17
Euro	1	Rs.73.13

INFORMATION DETAILS

Report Prepared by :

SMN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	8
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	8
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	7
--RESERVES	1~10	8
--CREDIT LINES	1~10	8
--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	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		64

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.