MIRA INFORM REPORT

Report Date :

09.11.2013

IDENTIFICATION DETAILS

Name :	KIWI MEDICAL DEVICES PRIVATE LIMITED
Registered Office :	Shop No. 26, Yeshwant Shopping Centre, Opposite Borivali Station, Borivali (East), Mumbai – 400066, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	09.08.2010
Com. Reg. No.:	11-206371
Capital Investment / Paid-up Capital :	Rs. 0.100 Million
CIN No.: [Company Identification No.]	U33110MH2010PTC206371
TAN No.: [Tax Deduction & Collection Account No.]	MUMK20525B
Legal Form :	Private Limited Liability Company
Line of Business :	Trader and Dealer of Medical Equipments.
No. of Employees :	4 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (28)

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

Maximum Credit Limit :	USD 400
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. Financials of 2012 and 2013 are not available with us. As per previous 2011, reserves of the company appears to be low. However, trade relations reported to be fair. Business is active. Payment terms are reported to be unknown. The company can be considered for business dealing 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

INDIAN ECONOMIC OVERVIEW

The current downturn provides an opportunity to push ahead with reforms to accelerate growth, says the latest India Development Update report released by the World Bank. The report says that the adverse effects of rupee depreciation are likely to be offset by the gains in the exports performance due to improved external competitiveness. Since May this year, the local currency has depreciated substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.

A stagflation like situation appears to have arisen as inflation jumped to an eight month high of 6.46 % for the month of September. It is up from 6.10 % in August. Growth continues to be muted with factory output plunging to 0.6  % in August. Onion prices have risen nearly 300 % from last September. Vegetables cost nearly 90 % more than they did last year. Wake up to the economic contribution of slum dwellers. They contribute more than 7.5 % to the country’s gross domestic product, according to a recent study conducted in 50 top cities.

136000 estimated number of jobs created during the second quarter of the current financial year. 50000 estimated number of additional jobs in the field of corporate social responsibility in the coming years.

The International Finance Corporation expects to come out with its rupee linked bonds issue before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has been launched in India from 1^st November.

The Land Acquisition Act to provide just and fair compensation to farmers will come into force from January 1 next year, said Rural Development Minister Jairam Ramesh. The Act replaces a 119 year old registration. The Securities and Exchange Board of India has approved the trading of currency futures on the Bombay Stock Exchange. The exchange plans to launch the currency futures platform with advanced trading technology by the end of November.

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 :	Mr. Falguni Kumar
Designation :	Director
Contact No.:	91-9768132514
Date :	08.11.2013

LOCATIONS

Registered Office :	Shop No. 26, Yeshwant Shopping Centre, Opposite Borivali Station, Borivali (East), Mumbai – 400066, Maharashtra, India
Tel. No. :	Not Available
Mobile No. :	91-9768132514 (Falguni Laha Kumar)
Fax No. :	Not Available
E-Mail :	nitishsharma1@yahoo.com fjlaha@hotmail.com
Area :	200 sq.ft.
Location :	Rented

DIRECTORS

As on 30.09.2011

Name :

Mr. Nitish Rambilas Sharma

Designation :

Director

Address :

B/507, Bramhputra, Jangid Complex, Mira Road (East), Thane – 401107, Maharashtra, India

Date of Birth/Age :

05.07.1971

Date of Appointment :

09.08.2010

DIN No. :

03131652

Name :

Mr. Falguni Kumar

Designation :

Director

Address :

A/101, New Brahmaputra, CHS Jangid Complex, Mira Road, Thane – 401107, Maharashtra, India

Date of Birth/Age :

13.03.1968

Date of Appointment :

09.08.2010

DIN No. :

03122280

Name :

Mr. Gunvant Mahendrakumar Doshi

Designation :

Director

Address :

12-A/14, Raheja Classique, Building No.2, B Wing, New Link Road, Oshiwara, Andheri (West), Mumbai – 400053, Maharashtra, India

Date of Birth/Age :

24.08.1954

Date of Appointment :

11.04.2011

DIN No. :

01648219

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	U52311MH2000PTC126802	SHRIGUN PHARMACHEM PRIVATE LIMITED	Director	01/07/2000	01/07/2000	-	Active	NO
2	U33110MH2010PTC206371	KIWI MEDICAL DEVICES PRIVATE LIMITED	Director	11/04/2011	11/04/2011	-	Active	NO
3	U51101MH2013PTC242651	DOSHI MEDICAL SERVICE PRIVATE LIMITED	Director	30/04/2013	30/04/2013	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Nitish Rambilas Sharma	5000
Falguni Kumar	5000
Total	10000

As on 30.09.2011

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 :	Trader and Dealer of Medical Equipments.
Agencies Held :	Baria Tech, USA
Terms :
Selling :	Cash and Credit (30 Days)
Purchasing :	Credit (90 Days) and Advance

GENERAL INFORMATION

No. of Employees :	4 (Approximately)
Bankers :	· Bank of India, Mira Road Branch, Mumbai, Maharashtra, India · Jammu and Kashmir Bank

Banking Relations :	--
Auditors :
Name :	B.K. Selarka and Associates Chartered Accountants
Address :	Off. No. B-101/104, Shantinath Darshan Chs Limited, Opposite St. Xeviers High School, Shanti Park, Mira Road (East), Thane – 401107, Maharashtra, India
Tel. No. :	91-22-28102830/ 28132630
Mobile No. :	91-9821695830
E-Mail :	bhavenselarka@gmail.com
Income-tax PAN of auditor or auditor's firm :	AMVPS0148J

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs. 0.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs. 0.100 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011
SHAREHOLDERS FUNDS
1] Share Capital		0.100
2] Share Application Money		0.000
3] Reserves & Surplus		0.002
4] (Accumulated Losses)		0.000
NETWORTH		0.102
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		0.100
TOTAL BORROWING		0.100
DEFERRED TAX LIABILITIES		0.000
TOTAL		0.202
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.000
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.110
	Sundry Debtors	0.271
	Cash & Bank Balances	0.163
	Other Current Assets	0.000
	Loans & Advances	0.014
Total Current Assets		0.558
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.353
	Other Current Liabilities	0.026
	Provisions	0.000
Total Current Liabilities		0.379
Net Current Assets		0.179
MISCELLANEOUS EXPENSES		0.023
TOTAL		0.202

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011
	SALES
		Income
		Other Income
		TOTAL	0.455
Less	EXPENSES
		TOTAL	0.452
	PROFIT/ (LOSS) BEFORE TAX		0.003
Less	TAX		0.001
	PROFIT/ (LOSS) AFTER TAX		0.002
	Earnings / (Loss) Per Share (Rs.)		0.28

Particulars	31.03.2013	31.03.2012
Sales Turnover (Approximately)	17.500	15.000

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

KEY RATIOS

PARTICULARS		31.03.2011
PAT / Total Income	(%)	0.44
Return on Total Assets (PBT/Total Assets}	(%)	0.54
Return on Investment (ROI) (PBT/Networth)		0.03
Debt Equity Ratio (Total Debt/Networth)		0.98
Current Ratio (Current Asset/Current Liability)		1.47

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

INDEX OF CHARGES : NO CHARGES EXIST FOR COMPANY

UNSECURED LOANS

PARTICULAR	31.03.2011 (Rs. in Millions)
Loan Fund – Unsecured	0.100
Total	0.100

FINANCIAL RESULTS

The company has commenced commercial activities during the period. During the financial year, company has incurred a net profit after tax of Rs. 0.002 Million.

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 records 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.62.73
UK Pound	1	Rs.100.92
Euro	1	Rs.84.06

INFORMATION DETAILS

Information Gathered by :	HNA
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	3
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	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	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		28

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.