. MIRA INFORM REPORT

Report Date :

24.01.2014

IDENTIFICATION DETAILS

Name :	KEIMED PRIVATE LIMITED (w.e.f. July 2012)
Formerly Known As :	KEIMED LIMITED (w.e.f. May 2001) KEIMED.COM LIMITED
Registered Office :	10-3-316/A, Masab Tank, Hyderabad – 500028, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	10.03.2000
Com. Reg. No.:	01-033837
Capital Investment / Paid-up Capital :	Rs.57.110 Millions
CIN No.: [Company Identification No.]	U72200AP2000PTC033837
TAN No.: [Tax Deduction & Collection Account No.]	HYDK01912B
PAN No.: [Permanent Account No.]	AABCK4532F
Legal Form :	Private Limited Liability Company
Line of Business :	The company is engaged in the business of pharmaceutical procurement and supply chain management for a wide range of medical goods, consumables, drugs, surgical, health and personal care products.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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

Maximum Credit Limit :	USD 1600000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. Financial position of the company appears to be sound. Directors are reported to be experienced and respectable businessmen. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. The company can be considered 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 – September 30, 2013

Country Name	Previous Rating (30.06.2013)	Current Rating (30.09.2013)
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

India’s current account deficit narrowed in the quarter ended September as government measures to curb imports, especially gold, kicked in.  The current account deficit, the excess of a country’s imports of goods and services over exports, narrowed to $ 5.2 billion from $ 21 billion in the year ago period, according to provisional Reserve Bank of India data. Finance Minister P. Chidambaram said the CAD for the year will be less than $ 60 billion or 3 per cent of GDP and the latest data suggests the government may achieve the target.

India was ranked 94^th among the world’s most corrupt nations list. Denmark and New Zealand topped as the cleanest while Somalia emerged as the most corrupt.

India’s services sector activity witnessed a moderate improvement in November over the previous month, even while indicating the fifth successive monthly contraction, according the HSBC survey.

$53 million estimated losses suffered by India due to phishing attacks during the third quarter, according to a study by RSA. India ranks fourth in the list of nations hit by phishing attacks. The US remained at the top of the charts. Phishing is the process of acquiring information such as user names, passwords and credit card details by sending e-mails disguised as official mails.

Rs.4080 million worth of mobile-phone-based transactions by July 2013 compared to Rs.260 million in September, 2012, according to Deloitte report. The number of transactions has shot up from 94000 to 701000.

India aims to earn Rs.400000 million from the bandwidth auction set for January. The merger and acquisition guidelines, cleared by a group of ministers, will be out before the auction begins so that players can make informed decisions on the auctions.

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Long term bank facilities: BBB+
Rating Explanation	Moderate degree at safety and moderate credit risk.
Date	04.03.2013

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 DECLINED BY

Name :	Mr. Narsaian Arigela
Designation :	General Manager Finance
Contact No.:	91-391060009
Date :	20.01.2014

LOCATIONS

Registered Office :	10-3-316/A, Masab Tank, Hyderabad – 500028, Andhra Pradesh , India
Tel. No.:	91-40-23253913
Fax No.:	91-40-23340181
E-Mail :	narsaiaharigela@yahoo.com
Warehouse:	7-2-B19 and 20, Block No 2, Ward No.7, Sanathnagar Industrial Area, Hyderabad – 500018, Andhra Pradesh , India
Branch Office:	Locate at · Hyderabad · Chennai · Delhi · Ahmedabad · Madurai · Bangalore · Kolkata · Cochin

DIRECTORS

As on 19.09.2013

Name :

Shobana Kamineni

Designation :

Director

Address :

10-3-316/A, Masab Tank, Hyderabad – 500028, Andhra Pradesh , India

Date of Birth/Age :

27.11.1960

Date of Appointment :

10.06.2008

DIN No.:

00003836

PAN No.:

AAIPK7589G

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	U92190AP1989PTC009617	KIDDY CONCEPTS PRIVATE LIMITED	Director	10/01/1991	10/01/1991	21/08/2010	Active	NO
2	U92490AP1991PTC012529	PRIME TIME RECREATIONS PRIVATE LIMITED	Director	05/04/1991	05/04/1991	26/08/2010	Active	NO
3	U45200AP1991PTC012560	KAMINENI BUILDERS PRIVATE LIMITED	Director	15/04/1991	15/04/1991	-	Active	NO
4	U85110TN1995PLC031121	FAMILY HEALTH PLAN (TPA) LIMITED	Whole-time director	26/04/1995	26/04/1995	01/06/2007	Active	NO
5	U40101AP1995PTC021542	KEI ENERGY PRIVATE LIMITED	Director	28/08/1995	28/08/1995	-	Active	NO
6	U74899DL1996PLC077667	APOLLO ENERGY COMPANY LIMITED	Director	29/03/1996	29/03/1996	-	Active	NO
7	U92199AP2000PTC035641	TRAC INDIA PRIVATE LIMITED	Director	09/11/2000	09/11/2000	-	Active	NO
8	U24239AP2003PTC041497	KEI VITA PRIVATE LIMITED	Director	11/08/2003	11/08/2003	-	Active	NO
9	U85110TN1999PLC042912	LIFETIME WELLNESS RX INTERNATIONAL LIMITED	Director	30/08/2003	30/08/2003	-	Active	NO
10	U55101AP2003PTC042102	KEI RAJAMAHENDRI RESORTS PRIVATE LIMITED	Director	21/11/2003	21/11/2003	-	Active	NO
11	U85194AP2005PLC050058	APOLLO HEALTH RESOURCES LIMITED.	Director	13/01/2005	13/01/2005	-	Active	NO
12	U85110TN1999PLC043316	APOLLO HEALTH STREET LIMITED	Director	19/04/2005	19/04/2005	08/03/2013	Active	NO
13	U85110TN1997PLC037382	APOLLO MUMBAI HOSPITAL LIMITED	Director	20/09/2005	20/09/2005	-	Active	NO
14	L72300TN1998PLC041360	APOLLO SINDOORI HOTELS LIMITED	Director	30/12/2005	30/12/2005	-	Active	NO
15	U85110TN2006PLC061114	INDIAN HOSPITALS CORPORATION LIMITED	Director	20/03/2010	14/09/2006	-	Active	NO
16	U65993TN1996PLC036644	PCR INVESTMENTS LIMITED	Director	29/09/2006	29/09/2006	-	Active	NO
17	U11101AP2006PTC051695	KEI-RSOS PETROLEUM AND ENERGY PRIVATE LIMITED	Director	17/11/2006	17/11/2006	-	Active	NO
18	U66030AP2006PLC051760	APOLLO MUNICH HEALTH INSURANCE COMPANY LIMITED	Whole-time director	17/12/2010	22/11/2006	-	Active	NO
19	U61100AP1999PLC032961	KEI-RSOS MARITIME LIMITED	Director	16/06/2007	16/06/2007	05/11/2008	Active	NO
20	U85100AP2007PTC054589	HEALTH SUPERHIWAY PRIVATE LIMITED	Director	22/06/2007	22/06/2007	15/07/2009	Active	NO
21	U72200AP2000PTC033837	KEIMED PRIVATE LIMITED	Director	10/06/2008	18/10/2007	-	Active	NO
22	U63032AP2007PTC056204	KEI-RSOS SHIPPING PRIVATE LIMITED	Director	05/11/2007	05/11/2007	-	Active	NO
23	U35100MH2007PTC176717	PENINSULAR TANKERS PRIVATE LIMITED	Director	12/12/2007	12/12/2007	-	Active	NO
24	U74999AP2008PTC059063	TRAC ECO AND SAFARI PARK PRIVATE LIMITED	Director	08/05/2008	08/05/2008	-	Active	NO
25	U85110MH2008PTC187084	ASHOK BIRLA APOLLO HOSPITAL PRIVATE LIMITED	Director	25/09/2008	25/09/2008	03/04/2013	Active	NO
26	U85100MH2007PLC176736	APOLLO LAVASA HEALTH CORPORATION LIMITED	Director	03/06/2009	06/11/2008	-	Active	NO
27	U73100AP2009FTC064239	QUINTILES PHASE ONE CLINICAL TRIALS INDIA PRIVATE LIMITED	Alternate director	17/12/2009	17/12/2009	24/03/2011	Active	NO
28	L85110TN1979PLC008035	APOLLO HOSPITALS ENTERPRISE LIMITED	Whole-time director	26/07/2010	01/02/2010	-	Active	NO
29	U24239AP2003PTC041637	INDIAN HOSPITEX PRIVATE LIMITED	Director	26/08/2011	22/02/2011	29/03/2012	Active	NO
30	U01122AP2001PTC038142	MATRIX AGRO PRIVATE LIMITED	Director	24/09/2012	29/09/2011	-	Active	NO
31	U80900AP2005NPL045601	CONFEDERATION OF WOMEN ENTREPRENEURS	Director	13/03/2012	13/03/2012	-	Active	NO
32	L24232DL1988PLC030958	INDRAPRASTHA MEDICAL CORPORATION LIMITED	Director	14/09/2012	01/08/2012	-	Active	NO
33	U40108AP2012PTC082969	LNG BHARAT PRIVATE LIMITED	Director	07/09/2012	07/09/2012	-	Active	NO

Name :

Mr. Taruna Chimanlal Joshi

Designation :

Whole-time director

Address :

No.7, Vidwan Sundaram Street Nungambakkam, Chennai – 600034, Tamilnadu, India

Date of Birth/Age :

25.12.1959

Date of Appointment :

01.06.2012

DIN No.:

00724889

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	U72200AP2000PTC033837	KEIMED PRIVATE LIMITED	Whole-time director	01/06/2012	19/06/2000	-	Active	NO
2	U24231TN1988PLC016493	HEALTH CARE (INDIA) LIMITED	Director	01/01/2002	01/01/2002	-	Dormant	NO
3	U18101TN2002PTC048988	PRIMELINE GARMENTS PRIVATE LIMITED	Director	24/05/2002	24/05/2002	-	Active	NO

Name :

Pushpa Umapathy Kamineni

Designation :

Director

Address :

10-3-316/A, Masab Tank, Hyderabad – 500028, Andhra Pradesh , India

Date of Birth/Age :

12.08.1936

Date of Appointment :

26.04.2005

DIN No.:

00901673

PAN No.:

ADOPK7081Q

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	U45200AP1991PTC012560	KAMINENI BUILDERS PRIVATE LIMITED	Director	15/04/1991	15/04/1991	-	Active	NO
2	U72200AP2000PTC033837	KEIMED PRIVATE LIMITED	Director	26/04/2005	26/04/2005	-	Active	NO
3	U24239AP2003PTC041637	INDIAN HOSPITEX PRIVATE LIMITED	Director	20/12/2005	20/12/2005	-	Active	NO

Name :

Jayalakshmi Veeravanallur

Designation :

Director

Address :

Old No. 121, New No. 3, 6^th Street AVM Avenue Virugambakkam,Chennai – 600078, Tamilnadu, India

Date of Birth/Age :

30.06.1933

Date of Appointment :

19.01.2001

DIN No.:

02604300

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	U72200AP2000PTC033837	KEIMED Private Limited	Director	19/01/2001	19/01/2001	-	Active	NO
2	U74900TN2013PLC090708	ARCHES CONSULTING LIMITED	Director	22/04/2013	22/04/2013	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Narsaian Arigela
Designation :	General Manager Finance

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 19.09.2013

Names of Shareholders	No. of Shares
Shobana Kamineni	2049690
Taruna Chimanlal Joshi	3850
Healthcare Indai Limited, India	440000
Family Health Plan Limited, India	1227710
Pushpa Umapathy Kamineni (HUF)	330550
Pushpa Umapathy Kamineni	1349550
Puansh Kamineni	309650
Total	5711000

Equity Share Break up (Percentage of Total Equity)

As on 19.09.2013

Category	Percentage
Bodies corporate	29.00
Directors or relatives of Directors	71.00
Total	100.00

BUSINESS DETAILS

Line of Business :

The company is engaged in the business of pharmaceutical procurement and supply chain management for a wide range of medical goods, consumables, drugs, surgical, health and personal care products.

GENERAL INFORMATION

No. of Employees :

Not Divulged

Bankers :

· HDFC Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel West, Mumbai - 400013, Maharashtra, India

· Canra Bank, Thousand Lights Branch, No.5, Greams Road, Tousand Lights, Chennai - 600006, Tamil Nadu, India

· Kotak Mahindra Bank Limited, 36-38a, Nariman Bhavan, 227,D, Nariman Point,, Mumbai - 400021, Maharashtra, India

Facilities :

Secured Loan	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
Long-term Borrowings
Rupee term loans from others	320.000	400.000
Rupee term loans from banks	0.000	45.747
Short-term borrowings
Rupee term loans from banks	236.093	233.318
Other loans and advances	43.443	1.964
Total	599.536	681.029

Banking Relations :	--
Financial Institute:	Housing Development Finance Corporation Limited, Ramon House 169backbay Reclamation, H T Parekh Marg, Mumbai - 400020, Maharashtra, India
Auditors :
Name :	M. Sreenivasulu Reddy and Associates Chartered Accountants
Address :	Flat No.404, Sandhya Enclave, Saibaba Temple Lane, Dwarakapuri Colony, Panjagutta, Hyderabad-500082, Andhra Pradesh, India
PAN N Income-tax PAN of auditor or auditor's firm :	ACAPM9624J
Associates	· Vardhman Pharma Distributors Private Limited, India · [U85110KA1992PTC013757] · Palepu Pharma Private Limited, India [U24230TN2007PTC064220] · Neelkanth Drugs Private Limited, India [U24233DL1999PTC099355] · Meher Distributors Private Limited, India [U24239MH2001PTC130423] · Medihauxe International Private Limited, India [U24233TN2009PTC073062] · Lucky Pharmaceuticals Private Limited, India [U24232DL2008PTC181486]
Other Related party:	· Trac India Private Limited, India [U92199AP2000PTC035641] · Srinivasa Medisales Private Limited, India [U33111KA2008PTC045022] · Primeline Garments · Prime Time Recreations Private Limited, India [U92490AP1991PTC012529] · Lifetime Wellness Rx International Limited, India [U85110TN1999PLC042912] · Kei-Rsos Maritime Limited, India [U61100AP1999PLC032961] · Kei Vita Private Limited, India [U24239AP2003PTC041497] · Kei Energy Private Limited, India [U40101AP1995PTC021542] · Focus Medisales Private Limited, India [U04231KA1999PTC025000] · Dot Publishers · Apollo Hospitals Enterprise Limited, India [L85110TN1979PLC008035]
Subsidiary company:	· Indian Hospitex Private Limited, India [U24239AP2003PTC041637]

CAPITAL STRUCTURE

As on 31.03.2013

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
5711000	Equity Shares	Rs.10/- each	Rs. 57.110 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	57.110	57.110	52.360
(b) Reserves & Surplus	342.337	321.090	280.274
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	399.447	378.200	332.634
(3) Non-Current Liabilities
(a) long-term borrowings	358.150	473.108	527.206
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	358.150	473.108	527.206
(4) Current Liabilities
(a) Short term borrowings	279.536	235.282	177.151
(b) Trade payables	163.696	174.827	183.630
(c) Other current liabilities	1.492	0.787	3.240
(d) Short-term provisions	35.268	35.747	35.651
Total Current Liabilities (4)	479.992	446.643	399.672
TOTAL	1237.589	1297.951	1259.512
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	71.946	36.059	21.295
(ii) Intangible Assets	0.000	0.000	10.973
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	725.531	725.531	522.712
(c) Deferred tax assets (net)	0.774	1.153	1.974
(d) Long-term Loan and Advances	115.486	167.190	282.215
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	913.737	929.933	839.169
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	165.334	179.491	174.638
(c) Trade receivables	97.879	124.241	185.361
(d) Cash and cash equivalents	7.618	16.443	14.422
(e) Short-term loans and advances	52.993	47.800	45.865
(f) Other current assets	0.028	0.043	0.057
Total Current Assets	323.852	368.018	420.343
TOTAL	1237.589	1297.952	1259.512

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	3140.300	3249.300	2701.100
		Other Income	NA	NA	NA
		TOTAL	NA	NA	NA
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	NA	NA	NA
	PROFIT BEFORE TAX		NA	NA	NA
Less	TAX		NA	NA	NA
	PROFIT AFTER TAX (G-H)		37.866	31.983	45.807
	Earnings Per Share (Rs.)		6.63	NA	NA

KEY RATIOS

PARTICULARS	31.03.2013	31.03.2012	31.03.2011
Debt Equity Ratio (Total Debt /Networth)	1.60	1.87	2.12
Current Ratio (Current Asset/Current Liability)	0.81	0.97	1.26

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

UNSECURED LOAN

PARTICULARS	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
Long-term Borrowings
Other loans and advances	38.150	27.361
Total	38.150	27.361

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10233583	24/03/2012 *	200,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA	B39649363
2	10219352	28/03/2010	400,000,000.00	HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED	RAMON HOUSE 169BACKBAY RECLAMATION, H T PAREKH MARG, MUMBAI, MAHARASHTRA - 400020, INDIA	A85976645
3	90128528	04/03/2004	100,000,000.00	HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED	BASHEERBAG, HYDERABAD, ANDHRA PRADESH - 500029, INDIA	-

* Date of charge modification

FIXED ASSETS

Tangible assets

· Buildings

· Plant and equipment

· Furniture and fixtures

· Vehicles

· Office equipment

· Computer equipments

Intangible assets

· Goodwill

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.61.99
UK Pound	1	Rs.102.67
Euro	1	Rs.83.98

INFORMATION DETAILS

Information Gathered by :	NYA
Report Prepared by :	KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--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		46

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.