MIRA INFORM REPORT

Report Date :

22.06.2013

IDENTIFICATION DETAILS

Name :	PRABA’S VCARE HEALTH CLINIC PRIVATE LIMITED
Registered Office :	No.15, New Giri Road, T. Nagar, Chennai – 600017, Tamilnadu
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	07.04.2004
Com. Reg. No.:	18-052929
Capital Investment / Paid-up Capital :	Rs. 2.500 Millions
CIN No.: [Company Identification No.]	U85110TN2004PTC052929
Legal Form :	Private Limited Liability Company
Line of Business :	The company is engaged in the business of Retailing Trichology Products and Trichology Treatment.
No. of Employees :	Not Available

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 144000
Status :	Moderate
Payment Behaviour :	Slow but Correct
Litigation :	Clear
Comments :	Subject is an old and established company having a moderate track record. Financial statements for 2011-2012 are not available. However, networth and profitability of the company have been stable in 2009-2010 and 2010-2011. Trade relations are reported as 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

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 DENIED BY

Name :	Ms. Selva Priya
Designation :	Office Executive
Contact No.:	Not Available
Date :	20.06.2013

LOCATIONS

Registered Office :	No.15, New Giri Road, T. Nagar, Chennai – 600017, Tamilnadu, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	jkmcompsec@hotmail.com
Corporate Office :	# 113 & 114,Mena Kampla Arcade, 3^rd Floor B Block, Sir Thyagaraya Road, T.Nagar, Chennai – 600017, Tamil Nadu, India
Tel. No.:	91-44-28151546 / 1547 / 1748 / 49008730
Fax No.:	Not Available

DIRECTORS

As on : 29.09.2012

Name :

Mr. Arockiyasamy Lourdu Samy

Designation :

Director

Address :

1^st Nandhya Flats, 147, Tirumalaipillai, Road, T. Nagar, Chennai – 600017, Tamilnadu, India

Date of Birth/Age :

16.09.1970

Date of Appointment :

30.09.2006

PAN No.:

AGWPA6248G

DIN No.:

00688956

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	U85110TN2004PTC052929	PRABA'S VCARE HEALTH CLINIC PRIVATE LIMITED	Director	30-09-06	30-09-06	-	Active	NO
2	U74900TN2009PTC073007	VCARE HEALTH NETWORK INDIA PRIVATE LIMITED	Director	24-09-09	24-09-09	-	Active	NO

Name :

Mr. Carolin Praba Arockiyasamy

Designation :

Director

Address :

1^st Nandhya Flats, 147, Tirumalaipillai, Road, T. Nagar, Chennai – 600017, Tamilnadu, India

Date of Birth/Age :

17.07.1958

Date of Appointment :

07.04.2004

DIN No.:

00688961

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	U85110TN2004PTC052929	PRABA'S VCARE HEALTH CLINIC PRIVATE LIMITED	Managing director	07-04-04	07-04-04	-	Active	NO
2	U85191TN2007PTC062121	V CARE HERBAL CONCEPTS PRIVATE LIMITED	Director	22-01-07	22-01-07	-	Active	NO
3	U74900TN2009PTC073007	VCARE HEALTH NETWORK INDIA PRIVATE LIMITED	Director	24-09-09	24-09-09	-	Active	NO
4	U24232TN2010PTC076594	ORIYANNA HEALTH NETWORK PRIVATE LIMITED	Director	14-07-10	14-07-10	-	Active	NO
5	U74900TN2012PTC083938	VP WELLNESS PRIVATE LIMITED	Director	11-01-12	11-01-12	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on : 29.09.2012

Names of Shareholders	No. of Shares
E. C. Praba	245000
L. Arockiyasamy	5000
Total	250000

Equity Share Break up (Percentage of Total Equity)

As on : 29.09.2012

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	The company is engaged in the business of Retailing Trichology Products and Trichology Treatment.
Products :	· Concentrates and Serums · Shampoos · Vitalizers · Oils · Nutritional Supplements

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Dena Bank, retail Asset Branch, No.83 – TTK Road, Alwarpet, Chennai – 600018, Tamilnadu, India

Facilities :

(Rs. in Millions)

SECURED LOAN	31.03.2011	31.03.2010
SBI Term Loan – 30766329713 (Secured by way of charge on hypothecation of stock and recievable)	5.938	8.197
Total	5.938	8.197

Auditors :

Not Available

CAPITAL STRUCTURE

As on : 29.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
250000	Equity Shares	Rs. 10/- each	Rs. 2.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
250000	Equity Shares	Rs. 10/- each	Rs. 2.500 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		2.500	2.500	2.500
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		33.527	13.543	6.917
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		36.027	16.043	9.417
LOAN FUNDS
1] Secured Loans		5.938	8.197	0.000
2] Unsecured Loans		1.930	5.047	11.197
TOTAL BORROWING		7.868	13.244	11.197
DEFERRED TAX LIABILITIES		2.443	1.813	1.339
TOTAL		46.338	31.100	21.953
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		26.820	22.368	16.062
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.922	2.752	2.012
	Sundry Debtors	0.165	0.125	0.000
	Cash & Bank Balances	8.540	6.154	2.344
	Other Current Assets	7.914	0.956	1.040
	Loans & Advances	20.443	12.997	13.443
Total Current Assets		37.984	22.984	18.839
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	11.741	12.414	11.737
	Other Current Liabilities	0.000	0.000	0.000
	Provisions	6.725	1.839	1.211
Total Current Liabilities		18.466	14.252	12.948
Net Current Assets		19.518	8.732	5.891
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		46.338	31.100	21.953

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	90.689	54.773	40.405
		Other Income	NA	NA	NA
		TOTAL	NA	NA	NA
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL		NA	NA
	PROFIT BEFORE TAX			1.344	3.671
Less	TAX			(5.281)	1.520
	PROFIT AFTER TAX		19.985	6.625	2.151
	Earnings Per Share (Rs.)		79.94	NA	NA

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
Net Profit Margin (PBT/Sales)	(%)	NA	2.45	9.09
Return on Total Assets (PBT/Total Assets}	(%)	0.00	2.96	10.52
Return on Investment (ROI) (PBT/Networth)		0.00	0.08	0.39
Debt Equity Ratio (Total Debt /Networth)		0.22	0.83	1.19
Current Ratio (Current Asset/Current Liability)		2.06	1.61	1.45

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	No
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last two years	Yes
12]	Profitability for last two 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	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	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	No
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

PERFORMANCE :

During the year the company has earned a revenue of Rs. 90.689 Millions. The net profit after the depreciation and tax amounted to Rs. 19.985 Millions as against profit of Rs. 6.625 Millions during the corresponding previous year. The Directors consider the working as satisfactory under the circumstance.

UNSECURED LOAN :

(Rs. in Millions)

Particulars	31.03.2011	31.03.2010
Loans from Banks
ABN Amro Bank Loan No 9445074	--	0.276
ABN Amro Bank Loan No 9448024	--	0.183
Barclays Bank Loan : 266000	--	0.606
Cholamansalam DBS Finance Limited	--	0.397
Citi Bank Loan No LAH – MRK03797890	0.165	0.366
Citi Bank Loan No PFK-MRK-1525293	0.167	0.367
Gemoney Loan	--	0.153
India Bulls Financial Service Limited	--	0.616
Relaince Capital Limited	--	0.272
Standard Chartered Bank	--	0.244
Yes bank loan No - 1190	--	0.151
Arokiaswamy L	0.171	0.171
HDFC Bank Loan - Business	--	0.296
HDFC Bank Loan – Innova Car	0.634	0.948
HDFC Bank Loan- 18537814 Ritzz Car	0.446	--
Kotak Mahindra Prime Limited	0.251	--
Carolin Praba E – MD Loan A/c	0.094	--
Total	1.930	5.047

BANKERS CHARGES REPORT AS PER REGISTRY :

Corporate identity number of the company	U85110TN2004PTC052929
Name of the company	PRABA’S VCARE HEALTH CLINIC PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	No.15, New Giri Road, T. Nagar, Chennai – 600017, Tamilnadu, India Email : jkmcompsec@hotmail.com
This form is for	Creation of Charge
Type of charge	Others (Corporate guarantee)
Particular of charge holder	Dena Bank, Retail Asset Branch, No.83 – TTK Road, Alwarpet, Chennai – 600018, Tamilnadu, India Email : rabche@denabank.co.in
Nature of instrument creating charge	Letter of guarantee from limited company Letter of consent from guarantors Letter of confirmation of guarantee by guarantor
Date of instrument Creating the charge	05.01.2012
Amount secured by the charge	Rs. 108.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest : 12.25% (DBBR (10.70)+ 1.55% + Tenor Premium (0.50%)- 0.50% (Festival offer concession) = 12.25%) per annum [in respect of TL given to Mrs. E.Carolin Praba(Borrower) & Mr. L. Arockiasamy (Co-borrower)] Terms of Repayment : Entire loan with interest to be repaid in 240 Equated Monthly Instalments and the first EMI has to commence from subsequent month of full disbursement of the loan amount [in respect of TL given to Mrs.E.Carolin Praba(Borrower) and Mr. L. Arockiasamy (Co-borrower)] Margin : 27% Extend and operation of the charge : Corporate Guarantee of Company in respect of Term Loan granted to Mrs. E.Carolin Praba(Borrower) and Mr. L. Arockiasamy (Co-borrower) under Dena Niwas Step up Home Loan Scheme
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Corporate Guarantee of Company in respect of Term Loan granted to Mrs. E. Carolin Praba(Borrower) and Mr. L. Arockiasamy (Co-borrower) under Dena Niwas Step up Home Loan Scheme

FIXED ASSETS :

· Computer and Accessories

· Plant and Machinery

· Vehicles

· Furniture and Fixtures

· Office Equipments

· Interior Decoration

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. 59.35
UK Pound	1	Rs. 78.59
Euro	1	Rs. 92.11

INFORMATION DETAILS

Information Gathered by :	NYN
Report Prepared by :	NIS

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	2
--RESERVES	1~10	2
--CREDIT LINES	1~10	2
--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
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
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.