MIRA INFORM REPORT

Report Date :

26.02.2014

IDENTIFICATION DETAILS

Name :	CONTRACT PHARMACAL CORPORATION INDIA PRIVATE LIMITED

Registered Office :	Sefron I Park, Plot No.42, Pancharatna Industrial Estate, Part-3, Changodar, Ahmedabad – 382 213, Gujarat

Country :	India

Date of Incorporation :	13.06.2013

Com. Reg. No.:	04-075586

Capital Investment / Paid-up Capital :	Rs.49.521 millions

CIN No.: [Company Identification No.]	U73200GJ2013FTC075586

Legal Form :	Private Limited Liability Company

Line of Business :	Subject is engaged in providing Formulation R&D Services.

No. of Employees :	10 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

RATING

STATUS

PROPOSED CREDIT LINE

New Business

Status :	New Company

Payment Behaviour :	Unknown

Litigation :	Clear

Comments :	Subject is a new company incorporated during 13^th June 2013, and it is establishing itself gradually. Mr. Tejas Purohit, DGM in Finance has provided general information to us and claimed that company will start its commercial operation from April 2014. As per the status in the registrar of companies business appears to be active. Payment terms are unknown. 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 – December 1, 2013

Country Name

Previous Rating

(30.09.2013)

Current Rating

(01.12.2013)

India

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INDIAN ECONOMIC OVERVIEW

The worst is over for India’s economy with gross domestic product likely to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s Analytics. Concerns over the rupee and current account deficit are under control, said the agency. Ratings firm Crisil has forecast 6 % growth for 2014/15 up from the estimated 4.8 % for 2013/14. Total economic growth, infrastructure bottlenecks and lack of transparency and consistency in foreign direct investment policies seem to have taken a toll on India’s attractiveness as an investment destination, says an Ernst & Young survey. Projects with FDI component fell 16.4 % across the globe in 2012 from the previous year. The drop in India was steeper at 21 %. State run carrier Air India is doling out free tickets to its 24000 employees, even as it expects to incur a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn. 550000 number of jobs generated across India in 2013, a fall of 0.4 % as compared to with a year earlier. The National Capital Region has a one-fourth share in total jobs created, according to a study by industry lobby group Assochem, Banks, real estate, automobile and telecommunications sectors are showing a rise of job creation. $ 805 mn investments by venture capital firms in India during 2013, registering a drop of about 18 % over the previous year. The Information Technology and IT-Enabled Services Industry retained its status as the favourable venture capital investors in 2013. Pakistan has temporarily banned gold imports for the second time in six months, as it tries to stem smuggling into India. India’s import duty on gold is 10 % and curbs on purchases have dried up legal imports into what used to be the world’s biggest bullion buyers. The World Gold Council puts the amount smuggled into India at upto 200 tonnes in 2013. The Reserve Bank of India has proposed that unclaimed bank deposits estimated to be about Rs 35000 mn be used for education and awareness among depositors. According to the plan, deposits that have not been claimed for at least 10 years will be transferred to the scheme.

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. Tejas Purohit
Designation :	Deputy General Manager - Finance
Contact No.:	91-9879804290
Date :	25.02.2014

LOCATIONS

Registered Office :	Sefron I Park, Plot No.42, Pancharatna Industrial Estate, Part-3, Changodar, Ahmedabad – 382 213, Gujarat, India
Tel. No.:	Not Available
Mobile No.:	91-9925125092 (Mr. Murthy) 91-9879804290 (Mr. Tejas Purohit)
Fax No.:	Not Available
E-Mail :	vineet.aneja@clasislaw.com ayyagari.murthy@cpc.com tejas.purohit@cpc.com india@cpc.com
Website :	www.cpc.com

DIRECTORS

Name :

Mr. Vineet Harbans Lal Aneja

Designation :

Director

Address :

309, Verona, Mahagun Morphevs, E-4, Sector 50, Noida – 201 301, Uttar Pradesh, India

Date of Birth/Age :

13.11.1971

Date of Appointment :

13.06.2013

DIN No.:

00244583

E-Mail :

vineetaneja@yahoo.com

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	U73100MH2005PTC206605	AA INDIAN DEVELOPMENT CAPITAL ADVISORS PRIVATE LIMITED	Director	02-08-2005	02-08-2005	19-06-2008	Active	NO
2	U45204TN2006PTC061040	ASCOTT INTERNATIONAL MANAGEMENT (INDIA) PRIVATE LIMITED	Director	30-09-2008	07-09-2006	30-09-2009	Active	NO
3	U24134TN2007PTC062123	ITAL PLASTIC COMPOUNDS PRIVATE LIMITED	Additional director	29-01-2007	29-01-2007	01-06-2008	Active	NO
4	U25199KA2007FTC043144	VEYANCE RUBBER INDIA PRIVATE LIMITED	Director	15-06-2007	15-06-2007	14-08-2013	Active	NO
5	U74140DL2007PTC164868	CLARK CAMPBELL CONSULTING PRIVATE LIMITED	Director	18-06-2007	18-06-2007	11-07-2007	Strike off	NO
6	U29253DL2007PTC170914	METALSA INDIA PRIVATE LIMITED	Director	30-11-2007	30-11-2007	10-03-2009	Active	NO
7	U27310DL2007FTC171725	MOEN INDIA PRIVATE LIMITED	Director	20-12-2007	20-12-2007	08-12-2008	Active	NO
8	U27109TZ2008FTC017737	RENOLD CHAIN INDIA PRIVATE LIMITED	Alternate director	17-08-2009	28-07-2008	28-10-2009	Active	NO
9	U14220DL2008FTC185239	SOFTWARE A G INDIA SALES PRIVATE LIMITED	Director	26-11-2008	26-11-2008	01-10-2009	Active	NO
10	U74140DL2008PTC185333	BA CENTER FOR LEGAL SUPPORT INDIA PRIVATE LIMITED	Director	28-11-2008	28-11-2008	30-09-2009	Strike off	NO
11	U92132KA2006PTC041326	TECHNICOLOR INDIA PRIVATE LIMITED	Alternate director	26-05-2009	26-05-2009	10-09-2009	Amalgamated	NO
12	U64200HR2009PLC039237	TELESONIC NETWORKS LIMITED	Director	26-06-2009	26-06-2009	06-08-2009	Active	NO
13	U51101MH2010PTC200831	UNITRON HEARING INDIA PRIVATE LIMITED	Alternate director	24-06-2010	24-06-2010	30-09-2010	Active	NO
14	U51101MH2011PTC220425	GE FISHERIES INDIA PRIVATE LIMITED	Director	29-12-2011	29-12-2011	21-07-2012	Under Process of Striking off	NO
15	U29253TN2012PTC084064	MANULI HYDRAULICS MANUFACTURING INDIA PRIVATE LIMITED	Director	19-01-2012	19-01-2012	18-04-2012	Active	NO
16	U73200GJ2013FTC075586	CONTRACT PHARMACAL CORPORATION INDIA PRIVATE LIMITED	Director	13-06-2013	13-06-2013	-	Active	NO

Name :

Mr. Mathew David Wolf

Designation :

Additional Director

Date of Appointment :

24.06.2013

DIN No.:

06536763

Name :

Mr. Mark Nathan Wolf

Designation :

Additional Director

Date of Appointment :

24.06.2013

DIN No.:

06536610

Name :

Mr. Robyn Allison Wolf Eagle

Designation :

Additional Director

Date of Appointment :

24.06.2013

DIN No.:

06536702

KEY EXECUTIVES

Name :	Gunanidhi Panda
Designation :	Manager
Address :	Flat No.E-301, Safal Parisar, South Bopal, Off S.P. Ring Road, Ahmedabad – 380 058, Gujarat, India
Date of Birth/Age :	20.05.1973
Date of Appointment :	11.11.2013
PAN No.:	AIIPP3473C
Mobile No.:	91-9909678440
E-Mail :	gunanidhip@cpc.com

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 07.06.2013

Names of Shareholders		No. of Shares
Contract Pharmacal Corp., Hauppauge, NY 11788, USA		49999
Wolf Family LLC, Hauppauge, NY 11788, USA		1
Total		50000

AS ON 24.01.2014

Names of Allottee

No. of Shares

Contract Pharmacal Corp., Hauppauge, NY 11788, USA

4050089

Total

4050089

AS ON 30.09.2013

Names of Allottee

No. of Shares

Contract Pharmacal Corp., Hauppauge, NY 11788, USA

852039

Total

852039

BUSINESS DETAILS

Line of Business :	Subject is engaged in providing Formulation R&D Services.

Imports :
Products :	Machinery
Countries :	US Singapore Europe

Terms :
Selling :	Cash and Credit

Purchasing :	Cash and Credit

GENERAL INFORMATION

Customers :	End Users

No. of Employees :	10 (Approximately)

Bankers :	The Hongkong and Shanghai Banking Corporation Limited, C.G. Road, Ahmedabad, Gujarat, India


Banking Relations :	--

Auditors :	Appointment is in process

Parent Company :	Contract Pharmacal Corp. Address: 135, Adams Avenue, Hauppauge, NY 11788, USA

CAPITAL STRUCTURE

Authorised Capital :

No. of Shares	Type	Value	Amount
6000000	Equity Shares	Rs.10/- each	Rs.60.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4952128	Equity Shares	Rs.10/- each	Rs.49.521 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

NEW COMPANY

LOCAL AGENCY FURTHER INFORMATION

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	No
12) Profitability for last three years	No
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)	Yes
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	No
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

Note:

· The registered office of the company has been shifted from 304, Shoppers Plaza-V, Government Servants Co-Operative Housing Society, Opposite Municipal Market, C.G. Road, Navrangpura, Ahmedabad – 380 009, Gujarat to the present address w.e.f. 12.09.2013.

· No Charges Exist for 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 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.61.97
UK Pound	1	Rs.103.31
Euro	1	Rs.85.14

INFORMATION DETAILS

Information Gathered by :	SVA

Report Prepared by :	SMN

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.

MIRA INFORM REPORT

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