MIRA INFORM REPORT

Report Date :

04.07.2013

IDENTIFICATION DETAILS

Name :	SANJEEVANI BIO-TECH EXIM PRIVATE LIMITED
Registered Office :	A-216, Tower-A, Siddhi Vinayak Tower, B/H Sarkhej Police Station, Makarba Ahmedabad-382213, Gujarat
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	09.06.2010
Com. Reg. No.:	04-061053
Capital Investment / Paid-up Capital :	Rs. 1.600 millions
CIN No.: [Company Identification No.]	U51397GJ2010PTC061053
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Pharmaceutical Products.
No. of Employees :	25 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (30)

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

Maximum Credit Limit :	USD 8000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record. The financial strength of the company is below average due to low reserves and low profit margin. However, trade relations are fair. Business is active. Payment terms are 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

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	SE 3B
Rating Explanation	Moderate financial strength and moderate performance capability.
Date	28.07.2012

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 :	Abhinav Sandip Bhargava
Designation :	Director
Contact No.:	91-9724300703
Date :	03.07.2013

LOCATIONS

Registered Office :	A-216, Tower-A, Siddhi Vinayak Tower, B/H Sarkhej Police Station, Makarba Ahmedabad-382213, Gujarat, India
Tel. No.:	91-79-29701887
Mobile No.:	91-9724300703 / 9724309703 (Abhinav Sandip Bhargava)
Fax No.:	Not Available
E-Mail :	bhargava@sanjeevanibiotech.com
Website :	www.sanjeevanibiotech.com
Location :	Owned
Factory :	Located at · Chhatral, Ahmedabad, Gujarat, India

DIRECTORS

As on 28.09.2012

Name :

Mr. Rajiv Bhargav

Designation :

Director

Date of Birth/Age :

17.03.1967

Date of Appointment :

21.12.2011

DIN No.:

03047185

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	U24239GJ2008PTC054593	HEAL SURE LIFESCIENCES PRIVATE LIMITED	Director	01-04-10	01-04-10	22-08-11	Active	NO
2	U51397GJ2010PTC061053	SANJEEVANI BIO-TECH EXIM PRIVATE LIMITED	Director	21-12-11	21-12-11	-	Active	NO

Name :

Mr. Abhinav Sandip Bhargava

Designation :

Director

Date of Birth/Age :

13.08.1990

Date of Appointment :

14.10.2011

DIN No.:

03060621

Name :

Mr. Ranjana Sanjay Bhargav

Designation :

Director

Date of Birth/Age :

14.04.1962

Date of Appointment :

14.10.2011

DIN No.:

03576851

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	U51397GJ2010PTC061053	SANJEEVANI BIO-TECH EXIM PRIVATE LIMITED	Director	14-10-11	14-10-11	-	Active	NO
2	U24230GJ2011PTC064483	OMGENE LIFE SCIENCES PRIVATE LIMITED	Director	01-02-12	01-02-12	-	Active	NO

Name :

Saloni Sandipbhai Bhargava

Designation :

Director

Date of Birth/Age :

06.09.1991

Date of Appointment :

24.10.2011

DIN No.:

05106402

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 28.09.2012

Names of Shareholders	No. of Shares
Sandip Rajendranath Bhargava	45000
Jyoti Sandip Bhargava	5000
Sanjay Bhargava	15000
Rajiv Bhargava	17500
Abhinav Bhargava	27500
Saloni Bhargava	20000
Ranjana Bhargava	30000
Total	160000

As on 28.09.2012

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Pharmaceutical Products.
Products :	· Analgesics Anti Malaria Drugs Antibiotics and Antibacterials Antibiotics And Anti-Bacterial Ayurvedic Formulation Ayurvedic Medicine Azithromycin Tablets Cefpodoxime Proxetil Tablets Cest Medicine Ciprofloxacin tablet Gastric Related Products Gastric Tablets Gynec Medicine Health Care Nutritionals Levofloxacin Tablets Multivitamin with Cyproheptadine Syrup and Caplet Ofloxacin Cefixime Tablets Omeprazole Capsules Respiratory System Tablets And Syrups
Exports :
Products :	Pharmaceutical Products
Countries :	African Countries
Terms :
Selling :	Cash and Credit (30 days and 60 days)
Purchasing :	Cash and Credit (30 days and 60 days)

GENERAL INFORMATION

Suppliers :	· Enora Enterprise S M Lifecare Super Crop Safe Limited Ami Printers Anhil Caps Jay Boxes Keepet Containers Parikh Sales Agency Shree Matangi Printers Vaibhav Packers
Customers :	Wholesalers, Retailers and End Users · Dawa Pharma Jiya Healthcare Eva Bio Tech J B Enterprises Anas Healthcare Altowba Pharma Ruchi Enterprises Sara Pharma Shree Agencies Shyam Medical Agency
No. of Employees :	25 (Approximately)
Bankers :	· HDFC Bank Limited, Ambavadi Branch, Ahmedabad, Gujarat, India HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India · Corporation Bank, Satellite Branch, Om Towers, Satellite, Next to Star Bazaar, Ahmedabad-380015, Gujarat, India
Facilities :	Cash Credit : Rs. 7.000 millions (From HDFC Bank Limited)

Banking Relations :	--
Auditors :
Name :	V.K. Jindal and Company Chartered Accountants
Address :	B-704, Nar Narayan Complex, Near Swastik Cross Roads, Navrangpura, Ahmedabad-380009, Gujarat, India
Tel. No.:	91-79-26407744
Fax No.:	91-78-26407744
E-Mail :	vk_kk@yahoo.co.in
PAN No.:	AABFV2907L

CAPITAL STRUCTURE

As on 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
160000	Equity Shares	Rs.10/- each	Rs. 1.600 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
160000	Equity Shares	Rs.10/- each	Rs. 1.600 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	1.600	0.100
(b) Reserves & Surplus	0.538	0.102
(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)	2.138	0.202
(3) Non-Current Liabilities
(a) long-term borrowings	2.886	0.107
(b) Deferred tax liabilities (Net)	0.019	0.004
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	2.905	0.111
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000
(b) Trade payables	21.315	4.318
(c) Other current liabilities	1.152	0.333
(d) Short-term provisions	0.000	0.000
Total Current Liabilities (4)	22.467	4.651
TOTAL	27.510	4.964
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.201	0.056
(ii) Intangible Assets	0.070	0.000
(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	2.208	0.160
(e) Other Non-current assets	0.013	0.017
Total Non-Current Assets	2.492	0.233
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	16.145	0.207
(c) Trade receivables	7.502	3.020
(d) Cash and cash equivalents	1.216	1.484
(e) Short-term loans and advances	0.000	0.000
(f) Other current assets	0.155	0.020
Total Current Assets	25.018	4.731
TOTAL	27.510	4.964

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011
	SALES
		Local Sales		5.622
		Export Sales		5.235
		Other Income		0.548
		TOTAL	61.244	11.405
Less	EXPENSES
		Purchase of Traded Goods		10.240
		Direct Expenses		0.082
		Administrative Expenses		1.137
		Priliminary Exp. W/off		0.004
		(Increase)/ Decrease in Stock		(0.207)
		TOTAL	60.376	11.256
	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		0.868	0.149
Less	FINANCIAL EXPENSES		0.235	0.000
	PROFIT BEFORE TAX		0.633	0.149
Less	TAX		0.182	0.047
	PROFIT AFTER TAX		0.451	0.102
	EARNINGS IN FOREIGN CURRENCY		37.500	NA
	Earnings zPer Share (Rs.)		2.82	10.21

Particulars	31.03.2013
Sales Turnover (Approximately)	133.000

Expected Sales (2013-2014) : Rs. 200.000 millions

The above information has been parted by Mr. Abhinav (Director)

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011
PAT / Total Income	(%)	0.74	0.89
Net Profit Margin (PBT/Sales)	(%)	NA	1.37
Return on Total Assets (PBT/Total Assets}	(%)	2.30	3.00
Return on Investment (ROI) (PBT/Networth)		0.30	0.74
Debt Equity Ratio (Total Debt/Networth)		1.35	0.53
Current Ratio (Current Asset/Current Liability)		1.11	1.02

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 two 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	No
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	No
34]	External Agency Rating, if available	Yes

UNSECURED LOANS

Particulars	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. In Millions)
Loan from Directors
Abhinav Bhargav-Loan	0.027	0.000
Jyoti Bhargav	0.020	0.050
Ranjana Bhargav-Loan	0.300	0.000
Sandip Bhargav-Loan	0.053	0.005
Loan from others
Anishbhai Patel	0.098	0.000
Dipak Patel	0.020	0.052
Ruhi Singhania	0.200	0.000
Sanjay Bhargava	0.712	0.000
Shree Shivashiv Trading Company	1.456	0.000
Total	2.886	0.107

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U51397GJ2010PTC061053
Name of the company	SANJEEVANI BIO-TECH EXIM PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	A-216, Tower-A, Siddhi Vinayak Tower, B/H Sarkhej Police Station, Makarba Ahmedabad-382213, Gujarat, India E-mail: bhargava@sanjeevanibiotech.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10387837
Type of charge	Immovable property Book debts Movable property (not being pledge) Floating charge
Particular of charge holder	HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India E-mail: RBBform8@hdfcbank.com
Nature of instrument creating charge	Memorandum Recording Past Transactions of Creation of Mortgage by Deposit of Title Deeds.
Date of instrument Creating the charge	02.01.2013
Amount secured by the charge	Rs. 7.000 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Interest at the rate as may be communicated by the Bank from time to time. Terms of Repayment On demand. Margin As may be stipulated by the Bank from time to time. Extent and Operation of the charge The Company created an equitable mortgage by way of deposit of title deeds in respect of its immovable properties security for the due repayment of Rs.7.000 millions by the Company including principal amount of the Facility, interest, liquidated damages, costs, charges and expenses etc.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Immovable Property being at Office No. A-216, admeasuring 890 Sq. Ft. along with undivided propertionate share in the land, 2nd floor, Tower- A, Siddhi Vinayak Towers, Survey No. 195/2, 196/1+2/A, 206, 211/1, 211/3, 212/1 and 212/2, draft Final Plot No. 12 to 18, TPS No. 84/B of Mouje, Makarba, Taluka City, District Ahmedabad, Registration Sub District Ahmedabad- 380004 (Paldi). Hypothecation by way of First Charge on Stocks and Book Debts of the Company.
Particulars of the present modification	In addition to the existing securities of Stocks and Book Debts, the charge of Rs.7.000 millions shall also now further secured against the equitable mortgage of immovable property situated at District Ahmedabad- 380004 (Paldi).

FIXED ASSETS

v Tangible Assets

Computer

Blackberry – 9790

Furniture and Fixture

v Intangible Assets

Barcode Software

Software “PDISPLUS”

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.60.10
UK Pound	1	Rs.91.07
Euro	1	Rs.77.95

INFORMATION DETAILS

Information Gathered by :	JML
Report Prepared by :	MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	4
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		30

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

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.