MIRA INFORM REPORT

Report Date :

21.05.2013

IDENTIFICATION DETAILS

Name :	INKARP INSTRUMENTS PRIVATE LIMTIED
Registered Office :	1-2-45 Street No. 2, Kakatiya Nagar Colony, Habsiguda, Hyderabad – 500007, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	24.08.2004
Com. Reg. No.:	01-043966
Capital Investment / Paid-up Capital :	Rs. 9.100 Millions
CIN No.: [Company Identification No.]	U33112AP2004PTC043966
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in Trading of equipments used by pharmacy companies.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (47)

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

Maximum Credit Limit :	USD 430000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct. 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

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 :	1-2-45 Street No. 2, Kakatiya Nagar Colony, Habsiguda, Hyderabad – 500007, Andhra Pradesh, India
Tel. No.:	91-40-27172293
Fax No.:	Not Available
E-Mail :	natesh@inkarp.co.in info@inkarp.co.in inkarphyd@vsnl.net

DIRECTORS

As on 29.09.2012

Name :

Mr. Balasubramanian Srinivasa

Designation :

Director

Address :

1-2-45 Street No. 1, Kakatiya Nagar Colony, Habsiguda, Hyderabad – 500007, Andhra Pradesh, India

Date of Birth/Age :

20.08.1942

Date of Appointment :

24.08.2004

DIN No.:

02204302

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	U33112AP2004PTC043966	INKARP INSTRUMENTS PRIVATE LIMITED	Director	24/08/2004	24/08/2004	-	Active	NO
2	U64202AP2005PTC045395	INKARP TELECOM INDIA PRIVATE LIMITED	Director	18/02/2005	18/02/2005	-	Active	NO
3	U32204AP2008PTC061460	INKARP INFRATEL SERVICES PRIVATE LIMITED	Director	20/10/2008	20/10/2008	-	Strike off	NO

Name :

Geetha Balasubramanian

Designation :

Director

Address :

H No.2-45/1 Street No. 2, Kakatiya Nagar Colony, Habsiguda, Hyderabad – 500007, Andhra Pradesh, India

Date of Birth/Age :

28.06.1952

Date of Appointment :

24.08.2004

DIN No.:

03213066

Name :

Mr. Natesh Krishnamurthy

Designation :

Director

Address :

Flat No. 102, 12-5-55/3, Sri Sai Galaxy Place, Vijaypuri Colony, Secunderabad – 500017, Andhra Pradesh, India

Date of Birth/Age :

27.02.1961

Date of Appointment :

24.08.2004

DIN No.:

02085101

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	U33112AP2004PTC043966	INKARP INSTRUMENTS PRIVATE LIMITED	Director	24/08/2004	24/08/2004	-	Active	NO
2	U64202AP2005PTC045395	INKARP TELECOM INDIA PRIVATE LIMITED	Director	18/02/2005	18/02/2005	-	Active	NO
3	U32204AP2008PTC061460	INKARP INFRATEL SERVICES PRIVATE LIMITED	Director	20/10/2008	20/10/2008	-	Strike off	NO
4	U29253AP2012PTC081361	RETSCH INDIA PRIVATE LIMITED	Managing director	07/06/2012	07/06/2012	-	Active	NO

Name :

Mr. Madhusudhan Mohan

Designation :

Director

Address :

Flat No. 205, 12-5-188/6B, Galaxy Residency, Vijayapuri, Tarnaka, Secunderabad – 500017, Andhra Pradesh, India

Date of Birth/Age :

24.12.1969

Date of Appointment :

24.08.2004

DIN No.:

02080317

Name :

Mr. Sreedhar Koora

Designation :

Director

Address :

12-5-109/1, Vijayapuri, Tarnaka, Secunderabad – 500017, Andhra Pradesh, India

Date of Birth/Age :

24.12.1969

Date of Appointment :

24.08.2004

DIN No.:

01710839

Name :

Mr. Srinivasa Reddy Muniyappa,

Designation :

Director

Address :

503, 1A – Wing, C2 – Plot, NG Royal Park Apartment, Kanjur Marg (East), Mumbai – 400042, Maharashtra, India

Date of Birth/Age :

25.04.1971

Date of Appointment :

24.08.2004

DIN No.:

03213095

Name :

Mr. Malliga Gurumoorthy

Designation :

Director

Address :

No. 5A, Swaminathan Street, West Mambalam, Chennai – 600033, Tamilnadu, India

Date of Birth/Age :

27.06.1953

Date of Appointment :

24.08.2004

DIN No.:

03225129

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2012

Names of Shareholders	No. of Shares
Balasubramanian Srinivasa	218400
Geetha Balasubramanian	127400
Natesh Krishnamurthy	182000
Madhusudhan Mohan	109200
Sreedhar Koora	100100
Srinivasa Reddy Muniyappa	91000
Malliga Gurumoorthy	81900
Total	910000

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 :

Subject is engaged in Trading of equipments used by pharmacy companies.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Axis Bank Limited

Facilities :

Secured Loan	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
Term Loans Vehicle and Laptop Loans (Secured against hypothecation of vehicles and laptops)	6.032	8.721
Loans Payable on demand From Bank (Open Cash credit from UTI Bank is secured against hypothecation against first charge on stocks, Book debts, Plant and Machinery and other fixed of the company and personal guarantee of the managing director of the company )	27.472	33.717
Total	33.504	42.438

Banking Relations :
Financial Institutional:	Reliance Capital Limited, H Block, 1^st Floor, Dhirubhai Ambani Knowledge City, Koparkhairne, Navi Mumbai – 400710, India
Auditors :
Name :	Ramanatham and Rao Chartered Accountants
Address :	P.B. No. 2102, Flat No. 302, Kala Mansion, S D Road, Secunderabad – 500003, Andhra Pradesh, India
Tel. No.:	91-40-27814147/27849305
Fax No.:	91-40-27840307
PAN No.:	AACFR1623C

CAPITAL STRUCTURE

As on 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Share	Rs.10/- each	Rs.10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
910000	Equity Share	Rs.10/- each	Rs.9.100 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		9.100	9.100	2.500
2] Share Application Money		0.000	0.000	6.379
3] Reserves & Surplus		97.483	75.891	58.878
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		106.583	84.991	67.757
LOAN FUNDS
1] Secured Loans		33.504	42.438	20.308
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		33.504	42.438	20.308
DEFERRED TAX LIABILITIES		0.000	0.000	0.557
TOTAL		140.087	127.429	88.622
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		31.073	28.229	27.819
Capital work-in-progress		2.401	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERRED TAX ASSETS		4.801	0.267	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	132.320	105.070	107.491
	Sundry Debtors	103.684	102.627	64.881
	Cash & Bank Balances	8.915	7.260	4.602
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	42.731	37.593	27.358
Total Current Assets		287.650	252.550	204.332
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	170.263	143.240	126.052
	Other Current Liabilities	0.868	0.543	7.954
	Provisions	14.707	9.834	9.523
Total Current Liabilities		185.838	153.617	143.529
Net Current Assets		101.812	98.933	60.803
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		140.087	127.429	88.622

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income
		Other Income
		TOTAL (A)	479.210	419.083	338.325
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	447.891	393.071	310.032
	PROFIT BEFORE TAX		31.319	26.012	28.293
Less	TAX		6.554	8.999	9.675
	PROFIT AFTER TAX		24.765	17.013	18.618
	Earnings Per Share (Rs.)		27.21	68.02	74.47

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	5.17	4.06	5.50
Return on Total Assets (PBT/Total Assets}	(%)	10.89	10.30	13.85
Return on Investment (ROI) (PBT/Networth)		0.29	0.31	0.42
Debt Equity Ratio (Total Debt /Networth)		0.31	0.50	0.30
Current Ratio (Current Asset/Current Liability)		1.55	1.64	1.42

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	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	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

CORPORATE INFORMATION:

Subject is a private Limited company domiciled in India and incorporated under the provision of the companies Act, 1956. The company is engaged in Trading of equipments used by pharmacy companies. The company caters to domestic markets.

OPERATIONS:

The turnover of the company has increased in terms of quality and value due to the fact that there is a good response in the domestic market. The Directors are taking all measures for growth and development in the company’s business

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U33112AP2004PTC043966
Name of the company	INKARP INSTRUMENTS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	1-2-45 Street No. 2, Kakatiya Nagar Colony, Habsiguda, Hyderabad – 500007, Andhra Pradesh, India Email: natesh@inkarp.co.in
This form is for	Creation of charge
Type of charge	DPN executed by the company against the borrowing
CIN	L65910MH1986PLC165645
Particular of charge holder	Reliance Capital Limited, H Block, 1^st Floor, Dhirubhai Ambani Knowledge City, Koparkhairne, Navi Mumbai – 400710, India Email: anurag.bansal@rcap.co.in
Nature of instrument creating charge	Loan Agreement Dated 15.02.2013 Demand Promissory Note Dated 15.02.2013 Letter of Continuity for Demand Promissory Note Dated 15.02.2013 Letter from Reliance Capital Limited
Date of instrument Creating the charge	15.02.2013
Amount secured by the charge	Rs.10.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest 16% P.A. (floating) Terms of Repayment Repayable in 84 monthly installments of Rs.0.198 Million each Extent and Operation of the charge The charge shall remain in force until entire loan along with interest and charges levied are repaid. Others This form is filed because "the Company is the Co-Borrower to the Loan Agreement."
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Demand Promissory Note executed by the Company and Mortgage of individual Property of Director situated at A and B, 6th Floor, S.No.156/2, Jhaver Plaza, Nungambakkam, Chennai, Tamil Nadu, India. Cross collateral of property mortgage by Company against funding given by Reliance Capital Limited to the Iinkarp Telecom India Private Limited.

FIXED ASSETS

• Land
• Building
• Furniture and Fixture
• Plant and Machinery
• Computers
• Office Equipments
• Vehicle
  

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.55.03.
UK Pound	1	Rs.83.60
Euro	1	Rs.70.68

INFORMATION DETAILS

Report Prepared by :

KVT

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	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		47

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.