MIRA INFORM REPORT

Report Date :

02.07.2013

IDENTIFICATION DETAILS

Name :	CONYBIO HEALTHCARE (INDIA) PRIVATE LIMITED
Registered Office :	A-2, Ground Floor, Arcot Terrace, No.160, NSK Salai, Vadapalani, Chennai – 600 026, Tamilnadu
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	29.12.1998
Com. Reg. No.:	18-041656
Capital Investment / Paid-up Capital :	Rs.10.000 millions
CIN No.: [Company Identification No.]	U33112TN1998PTC041656
Legal Form :	Private Limited Liability Company
Line of Business :	Distributor and Importer of Fir Short Pant, Fir Bracelet, Fir Necklace, etc.
No. of Employees :	30 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Maximum Credit Limit :	USD 174600
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record. There appears continuous dip in its sales turnover. However, trade relations are reported to be fair. Business is active. Payments are reported to be slow but correct. The company can be considered for 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 – March 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
India	A1	A1

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

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 :	Ms. Sunitha
Designation :	Manager
Contact No.:	91-9884096066
Date :	01.07.2013

LOCATIONS

Registered Office :	A-2, Ground Floor, Arcot Terrace, No.160, NSK Salai, Vadapalani, Chennai – 600 026, Tamilnadu, India
Tel. No.:	Not Available
Mobile No.:	91-9884096099 (Ms. Sunitha)
Fax No.:	Not Available
E-Mail :	info@conybio.com mfa@conybio.com
Website :	www.conybio.com
Corporate Office :	Conybio House, C-39, Thiru-Vi-Ka Industrial Estate, Guindy, Chennai – 600 032, Tamilnadu, India
Tel. No.:	91-44-42900600
Fax No.:	91-44-42900666

DIRECTORS

As on: 26.09.2012

Name :

Mr. Kanagendran Narainasamy

Designation :

Director

Address :

A-2, Ground Floor, Arcot Terrace, No.160, NSK Salai, Vadapalani, Chennai – 600 026, Tamilnadu, India

Date of Birth/Age :

09.04.1966

Date of Appointment :

12.04.2001

DIN No.:

01768583

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	U33112TN1998PTC041656	CONYBIO HEALTHCARE (INDIA) PRIVATE LIMITED	Director	12-04-01	12-04-01	-	Active	NO
2	U24246TN2004PTC052359	SHAJANI COSMETICS INDIA PRIVATE LIMITED	Director	21-01-04	21-01-04	-	Active	NO
3	U67190TN2003PTC051289	KAIZEN COMMERCE (CHENNAI) PRIVATE LIMITED	Director	01-07-04	01-07-04	-	Active	NO
4	U74999TN2008PTC066908	GENEX VENTURES PRIVATE LIMITED	Director	19-03-08	19-03-08	-	Strike off	NO

Name :

Mr. Nazim Subaida Mohammed Noohu

Designation :

Director

Address :

TC 11/1886-1, Kavu Road, YMR JN, Nanthencode, Trivendrum, Kerala, India

Date of Birth/Age :

27.05.1971

Date of Appointment :

08.03.2006

DIN No.:

01151034

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	U70102KL2004PTC016866	KAIRALI CONSTRUWELL PRIVATE LIMITED	Director	01-01-06	01-01-06	-	Strike off	NO
2	U33112TN1998PTC041656	CONYBIO HEALTHCARE (INDIA) PRIVATE LIMITED	Director	08-03-06	08-03-06	-	Active	NO
3	U67190TN2003PTC051289	KAIZEN COMMERCE (CHENNAI) PRIVATE LIMITED	Director	06-04-06	06-04-06	-	Active	NO
4	U24246TN2004PTC052359	SHAJANI COSMETICS INDIA PRIVATE LIMITED	Director	29-08-07	29-08-07	-	Active	NO
5	U74999TN2008PTC066908	GENEX VENTURES PRIVATE LIMITED	Director	19-03-08	19-03-08	-	Strike off	NO
6	U74999TN2008PTC066915	CB DISTRIBUTION SERVICES PRIVATE LIMITED	Director	01-04-09	01-04-09	04-10-10	Active	NO

Name :

Mr. Mohnathasan Nair

Designation :

Director

Address :

408, Taman Paermai, Jalan SG, Ujoing, Seremban 70200

Date of Birth/Age :

01.05.1953

Date of Appointment :

22.08.2001

DIN No.:

02473706

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 26.09.2012

Names of Shareholders	No. of Shares
N. Kanagendran	51000
Kaizen Commerce India Private Limited, India	4851
Shajini Costimatics India Private Limited, India	44149
Total	100000

As on: 26.09.2012

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	49.00
Directors or relatives of Directors	51.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Distributor and Importer of Fir Short Pant, Fir Bracelet, Fir Necklace, etc.
Products :	v Health Care Edibles v Far Infrared Menswear v Far Infrared Ladies Wear v Far Infrared Jewellery v Far Infrared Products v Far Infrared Home Care Products
Agencies Held :	v Globe Wide Impex v Sendirian Berhad
Imports :
Products :	v Health Care Edibles v Far Infrared Menswear v Far Infrared Ladies Wear v Far Infrared Jewellery v Far Infrared Products v Far Infrared Home Care Products
Countries :	Malaysia
Terms :
Selling :	L/C, Cash and Credit
Purchasing :	L/C, Cash and Credit

GENERAL INFORMATION

Customers :

End Users

No. of Employees :

30 (Approximately)

Bankers :

Axis Bank Limited, Chennai, Tamilnadu, India

Facilities :

Secured Loan	31.03.2012 [Rs. in Millions]	31.03.2011 [Rs. in Millions]
Long Term Borrowing
A) Term Loan
LIC Housing Finance	1.929	3.260
TATA Capital Limited	0.451	0.772
B) Other Long Term Liability
Gratuity obligation	0.057	0.079
Total	2.437	4.111

Banking Relations :	--
Auditors :
Name :	N.C. Rajagopal and Company Chartered Accountants
Address :	5, Moores Road, 1^st Floor, Chennai – 600 006, Tamilnadu, India
Tel. No.:	91-44-43084909/ 28212508
Fax No.:	91-44-28231924
E-Mail :	ncridm@airtel.broadband.in
PAN No. :	AAAFN0572A
Enterprise over which key management personnel exercise significant influence :	CB Distribution Services (Private) Limited

CAPITAL STRUCTURE

As on: 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.100/- each	Rs.10.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.100/- each	Rs.10.000 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	10.000	10.000
(b) Reserves & Surplus	33.654	33.393
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	43.654	43.393
(3) Non-Current Liabilities
(a) long-term borrowings	2.437	4.111
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	2.437	4.111
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000
(b) Trade payables	40.672	35.420
(c) Other current liabilities	77.658	86.314
(d) Short-term provisions	0.400	0.260
Total Current Liabilities (4)	118.730	121.994
TOTAL	164.821	169.498
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	27.843	28.729
(ii) Intangible Assets	0.546	0.546
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.202	0.202
(e) Other Non-current assets	6.924	7.108
Total Non-Current Assets	35.515	36.585
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	40.077	36.894
(c) Trade receivables	4.866	6.097
(d) Cash and cash equivalents	46.017	46.823
(e) Short-term loans and advances	38.203	43.049
(f) Other current assets	0.143	0.050
Total Current Assets	129.306	132.913
TOTAL	164.821	169.498

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		10.000
2] Share Application Money		0.000
3] Reserves & Surplus		37.135
4] (Accumulated Losses)		0.000
NETWORTH		47.135
LOAN FUNDS
1] Secured Loans		4.467
2] Unsecured Loans		0.000
TOTAL BORROWING		4.467
DEFERRED TAX LIABILITIES		0.000
TOTAL		51.602
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]
Capital work-in-progress		28.063
		0.000
INVESTMENT
DEFERREX TAX ASSETS		0.400
		0.202
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	35.544
	Sundry Debtors	4.791
	Cash & Bank Balances	48.014
	Other Current Assets	0.125
	Loans & Advances	52.224
Total Current Assets		140.698
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	32.754
	Other Current Liabilities	84.574
	Provisions	0.433
Total Current Liabilities		117.761
Net Current Assets		22.937
MISCELLANEOUS EXPENSES		0.000
TOTAL		51.602

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	NA	95.325	111.918
		Other Income	9.258	4.100	15.500
		TOTAL	NA	99.425	127.418
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		Financial Expenses
		TOTAL	NA	102.007	129.003
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		(1.035)	(2.582)	(1.585)
Less/ Add	DEPRECIATION/ AMORTISATION		1.140	1.161	1.119
	PROFIT/(LOSS) BEFORE TAX		(2.175)	(3.743)	(2.704)
Less	TAX		0.000	0.000	2.115
	PROFIT/(LOSS) AFTER TAX		(2.175)	(3.743)	(4.819)
	IMPORTS
		Materials-imported	17.109	17.205	26.409
		Materials-local	0.886	3.234	3.315
	TOTAL IMPORTS		17.995	20.439	29.724
	Earnings/(Loss) Per Share (Rs.)		(21.75)	(48.20)	(48.20)

Particulars	31.03.2013	31.03.2012
Sales Turnover (Approximately)	7.000	10.000
	(Due to Market Fluctuation)

Expected Sales (2013-2014): Rs. 10.000 Millions

The above information has been parted by Ms. Sunitha

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	NA	(3.76)	(3.78)
Net Profit Margin (PBT/Sales)	(%)	NA	(3.92)	(2.42)
Return on Total Assets (PBT/Total Assets}	(%)	(1.38)	(2.31)	(1.60)
Return on Investment (ROI) (PBT/Networth)		(0.05)	(0.09)	(0.06)
Debt Equity Ratio (Total Debt/Networth)		0.06	0.09	0.09
Current Ratio (Current Asset/Current Liability)		1.09	1.09	0.84

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	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	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
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	No
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	No
34]	External Agency Rating, if available	No

FIXED ASSETS:

v Air Conditioner

v Communication Equipment

v Audio and Video Equipment

v Photocopy Machine

v Electrical and Office Equipment

v Plant and Machinery

v Furniture and Fittings

v Vehicles

v Computers, Software and Website

v Trade Mark

v Land and Building

v Porur – Flat

v Building – Office

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.59.15
UK Pound	1	Rs.90.05
Euro	1	Rs.77.07

INFORMATION DETAILS

Information Gathered by :	JML
Report Prepared by :	ANK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--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
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		27

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

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.