MIRA INFORM REPORT

Report Date :

18.04.2014

IDENTIFICATION DETAILS

Name :	INTERNATIONAL ONCOLOGY SERVICES PRIVATE LIMITED
Registered Office :	206, Chaudhary Complex, 9, Veer Sawarkar Block, Shakarpur, Delhi-110092
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	04.10.2005
Com. Reg. No.:	55-141431
Capital Investment / Paid-up Capital :	Rs.104.034 Millions
CIN No.: [Company Identification No.]	U85110DL2005PTC141431
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Medical, Non-Medical and Diagnostics Equipments.
No. of Employees :	90 [Approximately]

RATING & COMMENTS

MIRA’s Rating :

B (33)

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

Maximum Credit Limit :	USD 1049700
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. Rating reflects moderate financial risk profile due to loss recorded by the company in the year 2013. However, trade relations are fair. Business is active. Payment terms are slow. 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, 2014

Country Name	Previous Rating (31.12.2013)	Current Rating (31.03.2014)
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

US investment bank Goldman Sachs  has upgraded its outlook on Indian markets as it expects positive impact of the election cycle.

India’s economy may grow 4.7 % in the current financial year, lower than the official estimate of 4.9 %, Fitch Rating said. The global rating agency expects the economy to pick up in the next two financial years.

Global ratings agency Standard & Poor said increasing focus by India Inc on lowering debt is likely to improve their credit profiles.

Singapore (1.1 million Indian tourists in 2012), Thailand (one million), the United Arab Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred holidays hotspots for Indians. The total figure is expected to increase to 1.93 million by 2017, according to the latest Eurmonitor international report.

There is a $29.34 bn outward foreign direct investment by domestic companies between April and January of 2013/14 which has seen some signs of recovery according to a Care Ratings report.

There are 264 number of new companies being set up every day on average during 2014. Most of them are registered in Mumbai. India had 1.38 million registered companies at the end of January, 2014.

Twitter like messaging service Weibo Corporation has filed to raise $ 500 million via a US initial public offering. Alibaba, which owns a stake in Weibo is expected to raise about $ 15 billion New York this year in the highest profile Internet IPO since Facebook’s in 2012.

Bharti Airtel has raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at a coupon rate of three per cent and maturing in 2020. This is the largest ever bond offering by an Indian company in Swiss Francs. Bharat Petroleum Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98 % coupon rate in February.

Indian Oil Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex at its almost complete Paradip refinery in Odhisha in three to four years. The company board is set to consider the setting up of a 700000 tonne per annum polypropylene plant at an estimated cost at Rs.3150 crore.

Global chief information officers at gathering in Bangalore in April to meet Indian startups at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in the making.

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. Girish Uniyal
Designation :	Accountant
Contact No.:	91-9910930837
Date :	16.04.2014

LOCATIONS

Registered Office :	206, Chaudhary Complex, 9, Veer Sawarkar Block, Shakarpur, Delhi-110092, India
Tel. No.:	Not Available
Mobile No.:	91-9910930837 [Mr. Girish Uniyal]
Fax No.:	Not Available
E-Mail :	girish.uniyal@internationaloncology.com info@internationaloncology.com siddharth.singh@internationaloncology.com
Website :	www.internationaloncology.com
Location :	Owned
Corporate Office :	2215, The Corenthum (Tower A), A-41, Sector 62, Noida-201301, Uttar Pradesh, India
Tel. No.:	91-120-4220760/1
Fax No.:	91-120-4220762
Pharmacy :	1^st Floor, Room No. F-102, Oncology Department, Fortis Hospital, B-1, Vasant Kunj, Delhi-110070, India

DIRECTORS

AS ON 30.09.2013

Name :

Mr. Pradeep Kumar Jaisingh

Designation :

Managing Director

Address :

803, Tower 3, Parsavnath Prestige, Sector 93A, Noida-201301, Uttar Pradesh, India

Date of Birth/Age :

05.08.1964

Date of Appointment :

24.09.2007

Din No.:

01676317

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	Company/ LLP Status	Defaulting status
1	U85110DL2005PTC141431	INTERNATIONAL ONCOLOGY SERVICES PRIVATE LIMITED	Managing director	10-11-2008	24-09-2007	Active	NO
2	U74900DL2011PTC220574	INTERNATIONAL ONCOPLANS SERVICES PRIVATE LIMITED	Director	08-06-2011	08-06-2011	Active	NO
3	U85100DL2013PTC261321	HEALTHSTART INDIA PRIVATE LIMITED	Director	28-11-2013	28-11-2013	Active	NO

Name :

Mr. Madhur Kumar Garg

Designation :

Director

Address :

1134, Dobbs Ferry Road, White Plains, NY, White

Date of Birth/Age :

27.07.1968

Date of Appointment :

04.10.2005

Din No.:

01550937

Name :

Ashvini Sengar

Designation :

Whole Time Director

Address :

A-002/E8, Sector 61, Krishna Apra Residency, Noida-201307, Uttar Pradesh, India

Date of Birth/Age :

24.05.1968

Date of Appointment :

04.10.2005

Din No.:

01698935

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	Company/ LLP Status	Defaulting status
1	U85110DL2005PTC141431	INTERNATIONAL ONCOLOGY SERVICES PRIVATE LIMITED	Whole-time director	01-08-2008	04-10-2005	Active	NO
2	U85110DL2008PTC177963	INNOVATIVE PROSTHETICS AND ORTHOTICS PRIVATE LIMITED	Director	12-05-2008	12-05-2008	Active	NO
3	U22212MH2008PTC186873	RANGOLI MEDIA PRIVATE LIMITED	Director	18-09-2008	18-09-2008	Active	NO

Name :

Mr. Girish Gupta

Designation :

Nominee Director

Address :

B-119, Hari Marg, Malviya Nagar, Jaipur-302017, Rajasthan, India

Date of Birth/Age :

18.02.1957

Date of Appointment :

04.07.2012

Din No.:

00894066

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	U51505RJ1985SGC003193	RAJASTHAN ELECTRONICS LTD.	Director	12-06-1990	12-06-1990	12-07-2010	Strike off	NO
2	U65999RJ2002PTC017380	RAJASTHAN ASSET MANAGEMENT COMPANY PRIVATE LIMITED	Director	21-12-2006	11-10-2004	-	Active	NO
3	U65999RJ2002PTC017379	RAJASTHAN TRUSTEE COMPANY PRIVATE LIMITED	Nominee director	11-10-2004	11-10-2004	-	Active	NO
4	U92111DL2003PTC123453	ESCOTOONZ ENTERTAINMENT PRIVATE LIMITED	Nominee director	11-02-2005	11-02-2005	12-10-2007	Active	NO
5	U31909RJ1995PTC010472	NATURAL TECHNOLOGIES PRIVATE LIMITED	Nominee director	09-03-2005	09-03-2005	20-03-2008	Amalgamated	NO
6	U72200RJ2001PTC017138	CYBER FUTURISTICS INDIA PRIVATE LIMITED	Director	21-10-2005	21-10-2005	-	Active	NO
7	U93010DL2002PTC117667	LIQVID ELEARNING SERVICES PRIVATE LIMITED	Nominee director	20-04-2006	20-04-2006	22-10-2010	Active	NO
8	U01119DL1996PLC080659	HOME STORES (INDIA) LIMITED	Nominee director	30-06-2006	30-06-2006	14-06-2007	Active	NO
9	U72900GJ2006PTC047970	AAA IT SOLUTIONS PRIVATE LIMITED	Nominee director	01-06-2009	01-06-2009	-	Active	NO
10	U45201RJ2003PTC018013	GEETASTAR HOTELS AND RESORTS PRIVATE LIMITED	Nominee director	25-08-2009	25-08-2009	-	Active	NO
11	U63040DL2007PTC164791	E FACTOR ADVENTURE TOURISM PRIVATE LIMITED	Nominee director	10-09-2009	10-09-2009	-	Active	NO
12	U52392MH2000PTC126159	NEXTENDERS (INDIA) PRIVATE LIMITED	Nominee director	29-09-2011	18-05-2011	-	Active	NO
13	U80302RJ2008PTC026456	SHREE EDUSERVE PRIVATE LIMITED	Nominee director	27-05-2011	27-05-2011	21-12-2012	Active	NO
14	U63000HR2010PLC040312	LEEWAY LOGISTICS LIMITED	Nominee director	23-06-2011	23-06-2011	-	Active	NO
15	U85110TN2003PTC051101	FRONTIER LIFELINE PRIVATE LIMITED	Nominee director	17-04-2012	17-04-2012	-	Active	NO
16	U85110DL2005PTC141431	INTERNATIONAL ONCOLOGY SERVICES PRIVATE LIMITED	Nominee director	04-07-2012	04-07-2012	-	Active	NO
17	U72200KA2008PTC045218	AUJAS NETWORKS PRIVATE LIMITED	Additional director	22-11-2013	22-11-2013	-	Active	NO

Name :

Mr. Hari K Vallurupalli

Designation :

Nominee Director

Address :

4395, Shamrock Drive Frisco, TX-75034, US

Date of Birth/Age :

09.08.1966

Date of Appointment :

04.07.2012

Din No.:

01421390

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	U72200AP1995PTC022599	B-IQ TECHNOLOGIES Private LIMITED	Director	28-12-2000	28-12-2000	-	Active	NO
2	U45200AP2007PTC052250	TRIVIKRAM CONSTRUCTIONS AND DEVELOPERS PRIVATE LIMITED	Director	23-04-2007	23-04-2007	-	Active	NO
3	U74999AP2007NPL085655	CEO CLUBS INDIA	Director	31-07-2012	05-10-2007	-	Active	NO
4	U15429KA1999PLC026121	NSL SUGARS LIMITED	Whole-time director	03-12-2010	03-12-2010	29-09-2012	Active	NO
5	U70102AP2011PTC072414	HARIPRIYA CONVENTION CENTER PRIVATE LIMITED	Director	28-01-2011	28-01-2011	-	Active	NO
6	U40102KA1983PLC058128	NSL SUGARS (TUNGABHADRA) LIMITED	Managing director	13-06-2011	13-06-2011	29-09-2012	Active	NO
7	U15421MH2000PLC130397	JAY MAHESH SUGAR INDUSTRIES LIMITED	Director	30-09-2011	25-06-2011	-	Amalgamated	NO
8	U74900AP2012PTC081143	VINCIEN ADVISORS PRIVATE LIMITED	Director	28-05-2012	28-05-2012	-	Active	NO
9	U85110DL2005PTC141431	INTERNATIONAL ONCOLOGY SERVICES PRIVATE LIMITED	Nominee director	04-07-2012	04-07-2012	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Siddharth Singh
Designation :	Secretary
Address :	A-40, Radhey Shyam Park, (Ext), Delhi-110051, India
Date of Appointment :	11.05.2012
Pan No.:	CGDPS3445N
Name :	Mr. Girish Uniyal
Designation :	Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2013

Names of Shareholders	No. of Shares
Malti Sanger	5000
Swati Aggarwal	13333
Ashvini Sengar	2080414
Madhur Kumar Garg	2027351
Pradeep Kumar Jaisingh	2840225
Manish Dhawan	240291
Trivikram Constructions and Developers Private Limited, India	1000000
Pankaj Rajvanshi	44000
Anurag Walia	46650
Anup Sethi	30811
Ajay Rastogi	270416
Rahul Jain	54083
Rajasthan Trustee Company Private Limited, India A/c SME Tech Fund, RVCF Trust II, India	1642598
Sunil Baijal	108167

AS ON 30.09.2013

Equity Share Breakup	Percentage of Holding
Category
Venture capital	15.79
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	6.30
Bodies corporate	9.61
Directors or relatives of directors	66.96
Other top fifty shareholders	1.34
TOTAL	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Medical, Non-Medical and Diagnostics Equipments.
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Customers :

Others

No. of Employees :

90 [Approximately]

Bankers :

• Indus-Ind Bank Limited, Dr. Gopal Das Bhawan, 28 Barakhamba Road, New Delhi - 110001, India

• Axis Bank Limited, 148, Barakhamba Road, Statesman House, 2nd Floor, New Delhi - 110001, India

Facilities :

Secured Loan	As on 31.03.2013 [Rs. in Millions]	As on 31.03.2012 [Rs. in Millions]
Long Term Borrowings
Rupee term loans from banks	130.812	77.197
Other loans and advances	0.424	0.000
Deferred payment liabilities	0.000	95.696
Short Term Borrowings
Term loans from banks	44.662	41.930
Working capital loans from banks	48.590	57.950
Other loans and advances	0.130	0.000
TOTAL	224.618	272.773

Banking Relations :	--
Auditors :
Name :	P.R. Mehra and Company Chartered Accountants
Address :	56, Daryaganj, Delhi-110002, India
PAN No:	AAEFP1838M
Other Related Parties :	Outcancer Foundation International Oncoplans Services Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
15000000	Equity Shares	Rs.10/- each	Rs.150.000 Millions
22500000	Preferences Shares	Rs.10/- each	Rs.225.000 Millions
	TOTAL

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10403369	Equity Shares	Rs.10/- each	Rs.104.034 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	104.034	83.281	83.114
(b) Reserves & Surplus	158.409	14.107	30.414
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	56.000	0.000
Total Shareholders’ Funds (1) + (2)	262.443	153.388	113.528
(3) Non-Current Liabilities
(a) long-term borrowings	131.236	172.893	154.893
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	25.769	44.357	77.693
(d) long-term provisions	3.595	2.494	0.453
Total Non-current Liabilities (3)	160.600	219.744	233.039
(4) Current Liabilities
(a) Short term borrowings	93.382	99.880	79.302
(b) Trade payables	49.111	49.606	48.895
(c) Other current liabilities	71.018	64.668	65.770
(d) Short-term provisions	0.178	0.046	0.000
Total Current Liabilities (4)	213.689	214.200	193.967
TOTAL	636.732	587.332	540.534
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	463.444	434.464	435.473
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.077	0.021	0.070
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	31.770	14.448	0.000
(d) Long-term Loan and Advances	0.187	0.175	0.203
(e) Other Non-current assets	0.000	2.500	0.000
Total Non-Current Assets	495.478	451.608	435.746
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	3.379	3.047	8.697
(c) Trade receivables	121.236	106.840	83.216
(d) Cash and cash equivalents	2.773	2.584	2.304
(e) Short-term loans and advances	0.402	2.839	0.000
(f) Other current assets	13.464	20.414	10.571
Total Current Assets	141.254	135.724	104.788
TOTAL	636.732	587.332	540.534

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2013	31.03.2012	31.03.2011
	SALES
	Income	248.603	234.285	156.802
	Other Income	5.372	16.164	2.798
	TOTAL (A)	253.975	250.449	159.600
Less	EXPENSES
	Stores and Consumables	93.926	93.339	57.229
	Administrative Expenses	72.866	79.801	50.765
	Personnel Expenses	64.504	45.310	22.101
	TOTAL (B)	231.296	218.450	130.095
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	22.679	31.999	29.505
Less	FINANCIAL EXPENSES (D)	31.265	32.844	10.746
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	(8.586)	(0.845)	18.759
Less/ Add	DEPRECIATION/ AMORTISATION (F)	33.650	31.738	20.388
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	(42.236)	(32.583)	(1.629)
Less	TAX (H)	(17.322)	(14.448)	(0.039)
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	(24.914)	(18.135)	(1.590)
	Earnings / (Loss) Per Share (Rs.)	(2.39)	--	--

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	(9.81)	(7.24)	(1.00)
Net Profit Margin (PBT/Sales)	(%)	(16.99)	(13.91)	(1.04)
Return on Total Assets (PBT/Total Assets}	(%)	(6.98)	(5.69)	(0.30)
Return on Investment (ROI) (PBT/Networth)		(0.16)	(0.21)	(0.01)
Debt Equity Ratio (Total Debt/Networth)		0.85	1.77	2.06
Current Ratio (Current Asset/Current Liability)		0.66	0.63	0.54

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	83.114	83.281	104.034
Reserves & Surplus	30.414	14.107	158.409
Net worth	113.528	97.388	262.443
long-term borrowings	154.893	172.893	131.236
Short term borrowings	79.302	99.880	93.382
Total borrowings	234.195	272.773	224.618
Debt/Equity ratio	2.063	2.801	0.856

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	156.802	234.285	248.603
		49.415	6.111

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	156.802	234.285	248.603
Profit	(1.590)	(18.135)	(24.914)
	(1.01%)	(7.74%)	(10.02%)

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 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	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	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]	PAN of Proprietor/Partner/Director, if available	No
32]	Date of Birth 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

INDEX OF CHARGES:

S. NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10274796	26/12/2013 *	126,800,000.00	INDUSIND BANK LIMITED	DR. GOPAL DAS BHAWAN, 28 BARAKHAMBA ROAD, NEW DELHI - 110001, INDIA	B94086683
2	10131652	21/01/2013 *	282,500,000.00	AXIS BANK LIMITED	148, BARAKHAMBA ROAD, STATESMAN HOUSE, 2ND FLOOR,  NEW DELHI - 110001, INDIA	B68255173

* Date of charge modification

FINANCIAL HIGHLIGHTS AND OPERATIONS:

The Company during the financial year had a stable performance going by the increase in revenue as compared to the last year. The Company witnessed a 6% y-o-y growth in its medical receipts revenues which was less than expected growth mainly due to shortfall in internal referrals from partner hospital at their Fortis Noida Center as some of their key medical specialties did not register projected revenue growth. The revenue growth at Fortis Noida Center also got adversely affected due to some government policies measures such as mandatory discount of 10% on oncology drugs administered to the ECHS patients which constitutes a large part of their institutional patient revenues. The lower revenue achievement at Fortis Noida Center was also due to delay in approval of the inclusion of the radiation therapy in the ECHS empanelment.

The operational performance ramp up at their third center at Jodhpur which became operational from September 2012 was hampered mainly due to non-commissioning of surgical program due to delays in completion of modular operational theater and installation of CT machine by the partner hospital. It is to be noted that a majority of radiation revenue is driven from internal surgical referrals.

On a positive note, the center at Dr. L.H. Hiranandani Hospital, Mumbai which had its second full year of operations has shown a very encouraging growth in revenue generation over the last year and has been performing consistently. The center registered a 38% growth in its revenues as compared to last financial year.

The Company is committed to consistent growth mode and enlarging the revenue base in the coming years and has taken challenging revenue and profitability targets for the current financial year. The Company has taken many steps in this regard e.g. increasing the number of outreach centers and further expansion in patient referral arrangements. The Company continues to strengthen its position as one of the leading provider of cancer care and treatment in India backed up by the use of start-of-the-art technology and best in class treatment protocols followed by it.

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.60.38
UK Pound	1	Rs.101.63
Euro	1	Rs.83.57

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	SUM
Report Prepared by :	TPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--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	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		33

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.