1. Summary Information

		Country	India
Company Name	SCHILLER HEALTHCARE INDIA PRIVATE LIMITED	Principal Name 1	Mr. Pravin Ratilal Gandhi
Status	Satisfactory	Principal Name 2	Mr. Dominik Doppler
		Registration #	11-111307
Street Address	111, Mahatma Gandhi Road, Fort, Mumbai – 400001, Maharashtra, India
Established Date	15.10.1997	SIC Code	--
Telephone#	91-22-22674119/ 28263520	Business Style 1	Manufacturer
Fax #	91-22-22673898/ 25263525	Business Style 2	--
Homepage	http://www.schillerindia.com	Product Name 1	Cardiac
# of employees	Not Available	Product Name 2	Critical Care
Paid up capital	Rs.50,689,000/-	Product Name 3	Spirometry Systems
Shareholders	Foreign holdings -50% Directors or relatives of directors -50%	Banking	Bank of India
Public Limited Corp.	NO	Business Period	16 Years
IPO	NO	International Ins.	-
Public Enterprise	NO	Rating	Ba (45)
Related Company
Relation	Country	Company Name	CEO
Associates	--	Schiller AG	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2012		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	247,165,000	Current Liabilities	99,274,000
Inventories	145,077,000	Long-term Liabilities	229,990,000
Fixed Assets	126,700,000	Other Liabilities	34,530,000
Deferred Assets	0,000	Total Liabilities	363,794,000
Invest& other Assets	0,000	Retained Earnings	104,459,000
		Net Worth	155,148,000
Total Assets	518,942,000	Total Liab. & Equity	518,942,000
Total Assets (Previous Year)	473,790,000
P/L Statement as of	31.03.2012		(Unit: Indian Rs.)
Sales	552,064,000	Net Profit	6,202,000
Sales(Previous yr)	598,318,000	Net Profit(Prev.yr)	27,051,000

MIRA INFORM REPORT

Report Date :

29.03.2013

IDENTIFICATION DETAILS

Name :	SCHILLER HEALTHCARE INDIA PRIVATE LIMITED
Registered Office :	111, Mahatma Gandhi Road, Fort, Mumbai – 400001, Maharashtra
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	15.10.1997
Com. Reg. No.:	11-111307
Capital Investment / Paid-up Capital :	Rs.50.689 Millions
CIN No.: [Company Identification No.]	U33110MH1997PTC111307
TAN No.: [Tax Deduction & Collection Account No.]	MUMS22847G
PAN No.: [Permanent Account No.]	AADCS5091B
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Cardiac, Critical Care and Spirometry Systems.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 620000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a well established and a reputed company having a satisfactory track record. There appears some dip in the turnover and sharp dip in the profit during 2012. However, trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered normal 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 :	111, Mahatma Gandhi Road, Fort, Mumbai – 400001, Maharashtra, India
Tel. No.:	91-22-22674119/ 28263520/ 0269/ 66920520/ 61523333
Fax No.:	91-22-22673898/ 25263525/ 3258/ 28263525/ 28263520/ 29209142
E-Mail :	mail@schillerindia.com schiller@vsnl.com lquest@bom2.vsnl.net.in
Website :	http://www.schillerindia.com
Corporate Office :	Advance House, 2^nd Floor, Off Andheri-Kurla Road, Marol, Andheri (East), Mumbai – 400 059, Maharashtra, India
Tel. No.:	91-22-61523333/ 29209141
Fax No.:	91-22-29209142
E-Mail :	sales@schillerindia.com support@schillerindia.com
Factory 1 :	408/5-2, Ground Floor, 7^th Main, 2^nd Block, Jayanagar, Bangalore – 560 011, Karnataka, India
Tel. No.:	91-80-26564045/ 4959
Fax No.:	91-80-26564045
E-Mail :	seshadri@schillerindia.com
Factory 2 :	No.17, Pondy Villupuram Road, Balaji Nagar, Oulgaret, Pondicherry - 605 010, Tamilnadu, India
Tel No.:	91-413-2291160/ 2949/ 3098599
Fax No.:	91-413-2291240
Email :	schpon@satyam.net.in hmohan@schillerindia.com venkatesh@schillerindia.com
Branch Office :	Located At : · Ahmedabad · Bangalore · Kolkata · Chennai · Cochin · Hyderabad · New Delhi · Pondicherry · Pune

DIRECTORS

As on: 24.09.2012

Name :	Mr. Pravin Ratilal Gandhi
Designation :	Vice Chairman
Address :	19 Fulchand Nivas, 5^th Floor, Chowpatty Sea Face, Mumbai – 400007, Maharashtra, India
Date of Birth/Age :	29.06.1944
Date of Appointment :	15.10.1997
DIN No.:	00694153
Name :	Mr. Dominik Doppler
Designation :	Director
Address :	Brueoelstrasse 66, CH -6415, Arth, Switzerland
Date of Birth/Age :	16.10.1968
Date of Appointment :	29.05.2001
DIN No.:	01587640
Name :	Mr. Alfred Eugen Schiller
Designation :	Director
Address :	Plot No. 112, Sion-Koliwada Road, Sion (East), Mumbai - 400022, Maharashtra, India
Date of Birth/Age :	08.04.1943
Date of Appointment :	26.04.1998
DIN No.:	01642021
Name :	Mr. Vikram Dhirajlal Sanghvi
Designation :	Managing Director
Address :	Flat No. 6, Shangri la, 27-A, Carmichael Road, Mumbai – 400026, Maharashtra, India
Date of Birth/Age :	26.08.1959
Date of Appointment :	01.04.2009
PAN No.:	AAIPS0291D
DIN No.:	00137309

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 24.09.2012

Names of Shareholders	No. of Shares
Vikram Dhirajlal Sanghvi	2028
Schiller AG., Switzerland	253445
Pravin R. Gandhi, Vikram D. Sanghvi	2534
Nandita P. Gandhi and Pravin R. Gandhi	4056
Radhika P. Gandhi and Pravin R. Gandhi	19153
Kunal P. Gandhi and Pravin R. Gandhi	19152
Sarla D. Sanghvi and Vikram D. Sanghvi	6880
Pravin R. Gandhi and Nandita P. Gandhi	20366
Amla D. Sanghvi and Sarla D. Sanghvi	1
Neeta V. Sanghvi and Vikram D. Sanghvi	2
Aditi V. Sanghvi and Neeta V. Sanghvi	1
Neha V. Sanghvi and Neeta V. Sanghvi	1
Nayana T. Currim bhoy and Vikram D. Sanghvi	2
Vikram D. Sanghvi and Neeta V. Sanghvi	53806
Yashraj Sanghvi and Charmi Y Sanghvi	47549
Neha Sanghvi and Vikram Sanghvi	1
Anuradha Sanghvi and Yashraj Sanghvi	405
Priya Sanghvi and Yashraj Sanghvi	244
Nirupama Sanghvi and Yashraj Sanghvi	405
Vikram Sanghvi and Neha Sanghvi	2
Amla Sanghvi and Vikram Sanghvi	2
Jayshree K Gandhi, Bansri M Bux and Janaki V Patel	48831
Bansri M Bux, Munawar H Bux	6948
Janaki V Patel, Vikas C Patel	6948
Priya J Madhavdas, Yashraj G Sanghvi	162
Yashraj G Sanghvi, Nirupama G Sanghvi	13962
Vikram Sanghvi – Partner Holding on behalf of R Ratilal and Company, India	4
Total	506890

Equity Share Break up (Percentage of Total Equity)

As on: 24.09.2012

Category	Percentage
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	50.00
Directors or relatives of directors	50.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Cardiac, Critical Care and Spirometry Systems.

Products :

Product Description	ITC Code
Monitors	90181990

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

• Bank of India, Mumbai Main Branch, BOI Building, Ground Floor , 70/80, M G Road, Fort, Mumbai - 400023, Maharashtra, India
• HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India
• State Bank of India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2012
Rupee term loans from banks (Repayable in 120 monthly installment commencing Feb 2012)	64.500
Foreign currency term loans from banks (Secured against Hypothecation of Inventories, Book Debts and Collateral security against movable fixed assets)	20.841
Working capital loans from banks (Secured against Hypothecation of Inventories, Book Debts and Collateral security against movable fixed assets)	72.000
Loans repayable on demand (Secured against Hypothecation of Inventories, Book Debts and Collateral security against movable fixed asset)	60.549
Total	217.890

Secured Loans	As on 31.03.2011
Rupee Term Loans Banks Secured	75.000
Working Capital Loans Banks Secured	108.054
Total	183.054

Banking Relations :	--
Auditors :
Name :	M. G. Ved and Company Chartered Accountants
Address :	209 Sumer Kendra, 2nd Floor, Behind Mahindra Towers, Pandurang, Budhkar Marg Worli, Mumbai – 400018, Maharashtra, India
PAN No.:	AAFPK2187H
Associates :	Schiller AG R Ratilal and Company Schiller Medical France Schiller Asia Pacific Schiller Hendel Sges Schiller Medilog

CAPITAL STRUCTURE

As on: 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
506890	Equity Shares	Rs.100/- each	Rs.50.689 Millions
368110	Unclassified Shares	Rs.100/- each	Rs.36.811 Millions
	Total		Rs.87.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
506890	Equity Shares	Rs.100/- each	Rs.50.689 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		50.689	50.689	42.241
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		104.459	98.847	45.254
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		155.148	149.536	87.495
LOAN FUNDS
1] Secured Loans		217.890	183.054	72.678
2] Unsecured Loans		12.100	7.500	35.000
TOTAL BORROWING		229.990	190.554	107.678
DEFERRED TAX LIABILITIES		4.403	2.444	0.000
TOTAL		389.541	342.534	195.173
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		126.700	130.624	22.466
Capital work-in-progress		0.000	0.000	0.044
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.205
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	145.077	134.270	119.581
	Sundry Debtors	205.313	168.054	132.726
	Cash & Bank Balances	9.927	8.302	4.496
	Other Current Assets	8.101	0.000	0.000
	Loans & Advances	23.824	32.540	19.334
Total Current Assets		392.242	343.166	276.137
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	68.695	73.985	55.373
	Other Current Liabilities	30.579	37.430	34.706
	Provisions	30.127	19.841	13.600
Total Current Liabilities		129.401	131.256	103.679
Net Current Assets		262.841	211.910	172.458
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		389.541	342.534	195.173

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	552.064	598.318	459.094
		Other Income	3.322	2.156	5.756
		TOTAL (A)	555.386	600.474	464.850
Less	EXPENSES
		Cost of Goods Sold			300.617
		Manpower Cost			51.173
		Established and Other Expenses			24.560
		Sales and Marketing Expenses			36.390
		Rates and Taxes			13.786
		Donation			1.000
		TOTAL (B)	510.154	533.131	427.526
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		45.232	67.343	37.324
Less	FINANCIAL EXPENSES (D)		27.890	19.193	14.495
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		17.342	48.150	22.829
Less/ Add	DEPRECIATION/ AMORTISATION (F)		7.633	7.394	5.098
	PROFIT BEFORE TAX (E-F) (G)		9.709	40.756	17.731
Less	TAX (H)		3.507	13.705	6.475
	PROFIT AFTER TAX (G-H) (I)		6.202	27.051	11.256
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		NA	NA	34.127
Less	APPROPRIATIONS
		Proposed Dividend and Tax on Dividend	0.589	0.548	0.494
	BALANCE CARRIED TO THE B/S		NA	NA	44.889
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	13.690	17.044	6.713
		Commission Earnings	11.307	2.211	6.124
	TOTAL EARNINGS		24.997	19.255	12.837
	Earnings Per Share (Rs.)		12.24	53.37	--

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	1.12	4.50	2.42
Net Profit Margin (PBT/Sales)	(%)	1.76	6.81	3.86
Return on Total Assets (PBT/Total Assets}	(%)	1.87	8.60	5.93
Return on Investment (ROI) (PBT/Networth)		0.06	0.27	0.20
Debt Equity Ratio (Total Debt/Networth)		1.48	1.27	1.23
Current Ratio (Current Asset/Current Liability)		3.03	2.61	2.66

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	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	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

UNSECURED LOAN

(Rs. In Millions)

Particular	As on 31.03.2012
Loans repayable on demand	12.100
Total	12.100

UNSECURED LOAN

(Rs. In Millions)

Particular	As on 31.03.2011
Working Capital Loans Others Unsecured	7.500
Total	7.500

FINANCIAL PERFORMANCE 2011-12:

In the back drop of a sharp growth of 29% the previous year, due to a difficult economic slowdown this year, the company has still been able to hold on to the Top line. In order to retain the Margins in the unpredictable volatile currency movement, The Company converted some of their large value Orders into Direct Customers’ LC orders for a commission, so as to minimize foreign exchange exposure. The same is reflected in the large increase in the commission earned during the year. Commission income has gone up from Rs: 2.270 Millions in the year 2010-11 to Rs. 13.500 Millions in the current year thereby showing a whopping six fold increase.

Hence, in Total Sales volume when Commission income is converted into Sales Value in Rupee Terms, then The company has achieved a 7% growth over 2010-11 in the Gross sales. In addition, though the landed cost has increased substantially, The Company has been able to retain the Gross Margin Percentage. In light of the general economic conditions, volatile Rupee and slowdown in the private healthcare spending, the overall performance of the company is considered to be satisfactory.

However, due to increase in the expenses and increase in the Finance cost, the PBDIT as well as PBT has fallen dramatically. Increased finance cost is a result of both slowing down of collections as well as increase in the interest rates. Accordingly, the Profit Before Tax has also reduced to Rs. 9.700 Millions.

The company has taken corrective steps to improve Working capital Cycle, as well as help buyers avail line of credit to reduce the interest burden in the coming year.

OPERATIONS 2011-12:

There have been major changes in the composition of business of the company during the year. In view of the slowdown in the private market, the company re- strategized it’s target market to Government. The company has participated in over 250 Tenders directly and over 100 tenders indirectly through its distributors. The result of this is evident in the period to claim.

As you will recollect that the company had tied up with Tecme Inc. Argentina last year for co-branding, marketing and servicing Universal Ventilators last year. This has been very well received. The company is now recognized as a major player in the Ventilation market and they hope, that they will soon reach a 15 % share of the Indian market

In another major move the company has decided to enter into the Imaging market. The company has signed up an exclusive Distributor Agreement with Neurologica Corporation, USA for marketing state-of-the-art Portable Head Computed Tomography System, “Ceretom” and Full body portable Multi Slice Computed Tomography System, ‘Bodytom’ in territories of India, Nepal and Bangladesh. As an extension in the same field, after the year closed they also tied up with Medtech SAS, France for sale of Robotic Neuro Surgery equipment in India.

During the year the company’s products like Truscope Classic was approved for international sales by Siemens, by extending the Company’s status to Channel Partner for universal operations. In addition they are also happy to share with you that their Multipara Monitors in Truscope range have been approved for International sales by their parent company, Schiller AG.

In order to shorten the Supply Chain Cycle and prepare for Post GST environment, the company decided to start local distribution from various states in a phased manner. During the year, the company registered itself in 7 States and thereby has a direct sales and service presence in 41 locations in India and abroad. The company has also significantly increased its indirect footfall by appointing over 65 Distributors and over 13 Service Franchisees across the India and SAARC countries.

The company has also opened a Residential Training facility at Puducherry for upgrading the knowledge and skills set of their employees and distributors. The company also extended their R and D facility to Bengaluru.

CURRENT YEAR PLAN AND FUTURE OUTLOOK

Outlook for the current year looks promising. The company plans to consolidate its position in the Ventilation market further and strengthen its market share in the Critical care segment. The company would over a period of time continue to introduce more products in the Imaging field like Ultrasound and MRI and X-ray machines in a phased manner.

The company is also going ahead in setting up another manufacturing facility to manufacture indigenously designed Medical Treadmills on its own land allotted in PIPDIC industrial park Puducherry. The project will become operational by the end of next year.

The company is also constantly on lookout for suitable opportunities to increase its product basket. These initiatives would take the company to a next level. The Company is all set to double its Turnover in the next two years.

CONTINGENT LIABILITIES

(Rs. In Millions)

Particular	31.03.2012	31.03.2011
Capital Account not Provided for	0.572	0.638
Bank Guarantee provided by company not acknowledged in books	63.504	33.795
Claims against the company not acknowledged as debts	2.630	3.179

Bankers Charges Report as per Registry

Corporate identity number (CIN) or foreign company registration number of the company	U33110MH1997PTC111307
Name of the company	SCHILLER HEALTHCARE INDIA PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	111, Mahatma Gandhi Road, Fort, Mumbai – 400001, Maharashtra, India E-mail: mail@schillerindia.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	90156974
Type of charge	Book debts Movable property (not being pledge)
Particular of charge holder	Bank of India, Mumbai Main Branch, BOI Building, Ground Floor , 70/80, M G Road, Fort, Mumbai - 400023, Maharashtra, India E-mail: MumbaiMain.MumbaiSouth@bankofindia.co.in
Nature of instrument creating charge	Supplemental Deed of Hypothecation.
Date of instrument Creating the charge	31.01.2013
Amount secured by the charge	Rs.180.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Interest/Commission as per Schedule III (Annexure) of Supplemental deed attached or at such other rate/s as may be notified by the bank from time to time. Terms of Repayment Borrowal Limits - On Demand, LC - On due date and Guarantee -On Invocation. Margin 25 % against RM /FG; 40% against book debts(upto 120 days) ;10% for Packing Credit, FBP/FBN(DP/DA 90days) and LC I/F DP/DA 180 days; 15% for Guarantee I/F or as required by the Bank from time to time. Extent and Operation of the charge Security in favour of Bank not only for the payments of the amounts due under or in respect of or in connection with or in any wise concerning with the said facilities for principal with interest/commission, costs, charges and exps. and other monies under the principal and modified deeds of hypothecation but also for the payments due under or in respect of or in connection with or in any wise concerning the said facilities as enhanced and under the addtl./revised facilities granted Contd. in.13(e)Others Others by the bank to the borrower. Revised Facilities and Limits (Rs. in Millions):(A) Borrowal Limits:1) CC (Hypothecation of Stock) Rs.105.000, 2)CC (Hypothecation of book debts) Rs.105.000 Millions, 3) WCDL Rs.32.000 Millions Max.(1+2+3) Rs.105.000 Millions, 4)Packing Credit Rs.2.500 Millions, 5)FBP/FBN (DP/DA 90 days) Rs.2.500 Millions -Total WCFB Rs.105.000 Millions, 6)Ad Hoc Limit Rs.15.000 Millions Total (A) Rs.120.000 Millions, (B) Non Borrowal Limits: 1)L/C (I/F) DP/DA 180 days/Buyers' Credit 180 days Rs.10.000 Millions, 2) Guarantee I/F Rs.50.000 Millions Max.(1+2) Rs.60.000 Millions (B) - Aggregate (A+B) Rs.180.000 Millions.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	a) All tangible movable machineries and plant both present and future at Pondichery, Bangalore, Mumbai etc. or wherever else, b) All tangible movable properties, assets and stocks of whatsoever nature of the Borrower (both present and future) situate at Pondichery, Banglore, Mumbai etc. or wherever else, c) All present and future book debts, outstanding, money receivables, claims, bills which are now due and owing or which may any time hereafter during the continuance of this security become due and owing to the Borrower.
Date of instrument modifying the charge	30.12.2011
Particulars of the present modification	The principal amount of charge on the Hypothecation assets is enhanced from Rs.165.000 Millions to Rs.180.000 Millions. Rev. Facilities and Limits (Rs. in Millions)-(A) Borrowal Limits: 1) CC (Hypothecation of Stock) Rs.105.000 Millions, 2)CC (Hypothecation of BD) Rs.105.000 Millions, 3) WCDL Rs.32.000 Max.(1+2+3) Rs.105.000 Millions, 4)Pack. Rs.2.500 Millions, 5)FBP/FBN (DP/DA 90 days) Rs.2.500 Millions -Total WCFB Rs.105.000, 6)Ad Hoc Limit Rs.15.000 Millions Total (A) Rs.120.000 Millions, (B) Non-Borrowal -1)L/C (I/F) DP/DA 180 days/BC 180 days Rs.10.000 Millions, 2) Guarantee I/F Rs.50.000 Millions Max.(1+2) Rs.60.000 Millions (B) - Aggregate (A) + (B) Rs.180.000 Millions.

FIXED ASSETS

Tangible Assets

• Land
• Buildings
• Plant and Equipment
• Furniture and Fixtures
• Vehicles
• Office Equipment
• Computer Equipments

Intangible Assets

• Computer Software
• Licenses
• Franchise

AS PER WEB DETAILS

PROFILE

Subject is a joint-venture between Schiller AG of Switzerland, a world leader in Medical Diagnostic Solutions, with presence in over 100 countries and RR Group, India. The company was set-up in 1997 with an idea to make quality products available to the Indian medical market. Currently their product range includes multichannel ECG machines, monitoring systems, defibrillators, stress test systems, ventilators, pressure injectors, infusion pumps, surgical diathermy, holter systems, spirometry systems, pulse oximeters, and telemedicine among others Subject is one of the fastest growing medical equipment company in India . The company's mission is to constantly provide international quality products and solutions at affordable prices.

Subject is also a distributor of products of other companies. They have tie-ups with Stephan Gmbh of Germany for ventilators and Impact USA for transport ventilators and Covidien for Tyco Pressure Injectors. They have a diversified product offering in the medical equipment market.

Subject is currently the market leader in multi-channel ECG machines. They are a leading player in the defibrillator and stress test market. In recent years they have dramatically increased their market share in the Monitoring segment. A combination of high quality products and ability to successfully market them has helped them in substantially cornering a higher pie of the medical equipment market. They currently have over 25,000 installations across India, Nepal, Bangladesh and Sri-Lanka.

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.54.39
UK Pound	1	Rs.82.32
Euro	1	Rs.69.54

INFORMATION DETAILS

Report Prepared by :

VRN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	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
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		45

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.