MIRA INFORM REPORT

Report Date :

11.12.2014

IDENTIFICATION DETAILS

Name :	VERTEX MEDICAL PRIVATE LIMITED
Registered Office :	J-3/1, First Floor, Kalkaji, Behind Alanknanda Market, New Delhi – 110019
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	30.03.2012
Com. Reg. No.:	55-233728
Capital Investment / Paid-up Capital :	Rs. 0.200 Million
CIN No.: [Company Identification No.]	U24296DL2012PTC233728
DGFT/IE Code No.:	0512049742
ESI No.:	6700052640000099
EPF No.:	MRNOI0058413000
TAN No.: [Tax Deduction & Collection Account No.]	DELV11851A
PAN No.: [Permanent Account No.]	AAECV0328H
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Exporter and Importer of OPG Machine.
No. of Employees :	67 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ca (11)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is a relatively new company having a moderate track. The company has incurred a huge accumulated loss which has eroded the Net worth of the company during 2013. However, Business is active. Payments terms are slow. The company can be considered for business dealings on safe and secured 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 1, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
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 31-03-2014.

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Mr. Gajraj Singh
Designation :	Commercial Manager
Contact No.:	91-856983086
Date :	10.12.2014

LOCATIONS

Registered Office :	J-3/1, First Floor, Kalkaji, Behind Alanknanda Market, New Delhi – 110019, India
Tel. No.:	91-11-41612370
Mobile No.:	91-8586983086 (Mr. Gairaj Singh)
Fax No.:	Not Available
E-Mail :	Commercial@vertexmedical.in
Location :	Rented
Factory :	Noida, Uttar Pradesh, India
Location :	Rented

DIRECTORS

As on 30.09.2013

Name :

Mr. Rajeev Agarwal

Designation :

Director

Address :

A – 705, sector -19, Noida – 201301, Uttar Pradesh, India

Date of Birth/Age :

13.12.1973

Date of Appointment :

30.03.2012

DIN No.:

00510497

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	U72200DL2005PTC134093	PROGRESSIVE IMAGING INFO SERVICES PRIVATE LIMITED	Director	16-03-05	16-03-05	15-05-08	Active	NO
2	U72200DL2005PTC140864	MINDPLUS IT SOLUTIONS PRIVATE LIMITED	Director	16-09-05	16-09-05	30-12-13	Active	NO
3	U24299DL1999PLC099183	JINDAL IMAGING LIMITED	Director	26-09-08	15-04-08	15-06-11	Active	NO
4	U65993DL2008PLC188534	INDIA FINCAP LIMITED	Director	06-08-08	06-08-08	-	Amalgamated	NO
5	U22300DL2008PLC182324	Consolidated Imaging Limited	Director	22-08-08	22-08-08	15-06-11	Amalgamated	NO
6	L33209DN2004PLC000198	JINDAL PHOTO LIMITED	Whole-time director	30-09-09	01-09-09	15-07-11	Active	NO
7	U85100DL2010PTC201654	EPSILON HEALTHCARE SOLUTIONS PRIVATE LIMITED	Director	16-04-10	16-04-10	08-12-12	Active	NO
8	U24232DL2011PTC215145	HORIZON MEDITECH PRIVATE LIMITED	Director	03-03-11	03-03-11	-	Active	NO
9	U24296DL2012PTC233728	VERTEX MEDICAL PRIVATE LIMITED	Director	30-03-12	30-03-12	-	Active	NO
10	U33110DL2013PTC250112	INNOVATION MEDITECH PRIVATE LIMITED	Director	15-05-13	15-05-13	-	Active	NO

Name :

Mr. Gajendra Pratap Singh Shekhawat

Designation :

Director

Address :

271-Pocket – D Narmada Apartment Alakhnanda, Delhi – 110019, India

Date of Birth/Age :

25.07.1975

Date of Appointment :

30.03.2012

DIN No.:

02976318

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	U85100DL2010PTC201654	EPSILON HEALTHCARE SOLUTIONS PRIVATE LIMITED	Director	16-04-10	16-04-10	08-12-12	Active	NO
2	U24232DL2011PTC215145	HORIZON MEDITECH PRIVATE LIMITED	Director	03-03-11	03-03-11	-	Active	NO
3	U24296DL2012PTC233728	VERTEX MEDICAL PRIVATE LIMITED	Director	30-03-12	30-03-12	-	Active	NO
4	U33110DL2013PTC250112	INNOVATION MEDITECH PRIVATE LIMITED	Director	15-05-13	15-05-13	-	Active	NO

Name :

Mrs. Summi Agarwal

Designation :

Director

Address :

A – 705, sector -19, Noida – 201301, Uttar Pradesh, India

Date of Appointment :

30.03.2012

DIN No.:

05232675

KEY EXECUTIVES

Name :	Mr. Gajraj Singh
Designation :	Commercial Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2013

Names of Shareholders	No. of Shares	% of Age
Rajeev Agarwal	8000	40.00
Gajendra Pratap Singh Shekhawat	10000	50.00
Summi Agarwal	2000	10.00
TOTAL	20000	100

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.000
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Exporter and Importer of OPG Machine.
Products :	v OPG Machine.
Brand Names :	---
Agencies Held :	---
Exports :
Products :	OPG Machine.
Countries :	v USA v Italy
Imports :
Products :	Machinery
Countries :	v USA v Germany
Terms :
Selling :	Cash, Credit (30 Days)
Purchasing :	Cash, Credit (30 Days)

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

Wholesalers, Retailers, Manufacturer

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

No. of Employees :

67 (Approximately)

Bankers :

Banker Name :	HDFC Bank
Branch Address :	Delhi, India
Facilities :	Not Divulged
Person Name :	Not Divulged
Contact No.:	Not Divulged
Report :	Not Divulged

Facilities :

---

Auditors :
Name :	Mr. Mohan Lal Agarwal and Company Chartered Accountant
Address :	D-251, First Floor, Street No -10, Laxmi Nagar, Delhi – 110092, India
Tel. No.:	91-11-22543055 91-11-43082697
E-Mail :	Mlal_co@yahoo.com
Web Site :	www.camohan.com
PAN No.:	AADFM7781R
Memberships :	---
Collaborators :	---
Associates/Subsidiaries :	---

CAPITAL STRUCTURE

As on 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
20000	Equity Shares	Rs.10/- each	Rs. 0.200 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
20000	Equity Shares	Rs.10/- each	Rs. 0.200 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.200
(b) Reserves & Surplus	(1.669)
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	0.000
Total Shareholders’ Funds (1) + (2)	(1.469)
(3) Non-Current Liabilities
(a) long-term borrowings	7.210
(b) Deferred tax liabilities (Net)	0.034
(c) Other long term liabilities	0.000
(d) long-term provisions	0.000
Total Non-current Liabilities (3)	7.244
(4) Current Liabilities
(a) Short term borrowings	0.000
(b) Trade payables	3.438
(c) Other current liabilities	0.826
(d) Short-term provisions	0.000
Total Current Liabilities (4)	4.264
TOTAL	10.039
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1.438
(ii) Intangible Assets	0.000
(iii) Capital work-in-progress	0.000
(iv) Intangible assets under development	0.000
(b) Non-current Investments	0.000
(c) Deferred tax assets (net)	0.000
(d) Long-term Loan and Advances	0.000
(e) Other Non-current assets	0.000
Total Non-Current Assets	1.438
(2) Current assets
(a) Current investments	0.000
(b) Inventories	3.343
(c) Trade receivables	1.774
(d) Cash and cash equivalents	1.173
(e) Short-term loans and advances	2.294
(f) Other current assets	0.017
Total Current Assets	8.601
TOTAL	10.039

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013
	SALES		6.131
Less	EXPENSES
		TOTAL	NA
	PROFIT/ LOSS BEFORE TAX		NA
	PROFIT/LOSS AFTER TAX		(1.635)
	Earnings Per Share (Rs.)		(81.75)

KEY RATIOS

PARTICULARS		31.03.2013
Net Profit Margin (PAT/Sales)	(%)	(26.67)
Return on Total Assets (PBT/Total Assets}	(%)	61.07
Return on Investment (ROI) (PBT/Networth)		(4.17)
Debt Equity Ratio (Total Debt /Networth)		(4.91)
Current Ratio (Current Asset/Current Liability)		2.02

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

(Rs. In Millions)

UNSECURED LOAN	As on 31.03.2013
Long Term Borrowing
Loans and advance from related parties	7.210
Total	7.210

INDEX OF CHARGES: NO CHARGES EXIST FOR THE COMPANY

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.61.95
UK Pound	1	Rs.97.15
Euro	1	Rs.76.74

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	RAS
Report Prepared by :	ANU

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	1
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	1
--PROFITABILIRY	1~10	1
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	1
--RESERVES	1~10	1
--CREDIT LINES	1~10	1
--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		11

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.