MIRA INFORM REPORT

Report Date :

11.06.2014

IDENTIFICATION DETAILS

Name :	NEUTEC HEALTHCARE PRIVATE LIMITED
Registered Office :	409, Gopal Heights, Netaji Subhash Place, Pitampura, Delhi – 110034
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	09.09.2010
Com. Reg. No.:	55-208038
Capital Investment / Paid-up Capital :	Rs.8.600 Millions
CIN No.: [Company Identification No.]	U74999DL2010PTC208038
TAN No.: [Tax Deduction & Collection Account No.]	DELN11544B
PAN No.: [Permanent Account No.]	AADCN3852B
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Trader of bulk drugs, formulations, vitamin premixes and active pharmaceutical ingredients.
No. of Employees :	Not Available (not able to contact the company).

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Maximum Credit Limit :	USD 125000
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is an established company having a moderate track. Management of the company has failed to file its financial for the year 2013 with the government department. As per available financial 2012, external borrowings of the company seems to be huge. However, trade relations are fair. Business is active. Payment terms are reported to be unknown. The company can be considered for business dealings 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.

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	B+ (Long Term Rating)
Rating Explanation	Have high risk of default.
Date	December 26, 2012

Rating Agency Name	CRISIL
Rating	A4 (Short Term Rating)
Rating Explanation	Have minimal degree of safety and carry very high credit risk.
Date	December 26, 2012

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 DENIED

Unable to contact

LOCATIONS

Registered Office :	409, Gopal Heights, Netaji Subhash Place, Pitampura, Delhi – 110034, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	serva.associates@gmail.com
Factory :	Plot No. 196, 1^st Floor, Sector -3, IMT Manesar, Gurgaon, Haryana, India

DIRECTORS

As on: 29.09.2012

Name :

Mr. Gaurav Arora

Designation :

Director

Address :

J/55, Rajouri Garden, New Delhi – 110027, India

Date of Birth/Age :

28.07.1985

Date of Appointment :

09.09.2010

DIN No.:

00855755

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	U24239DL2004PTC124780	MILLIONAIRE HEALTH PRIVATE LIMITED	Director	23/02/2004	23/02/2004	10/07/2013	Active	NO
2	U24232DL1997PLC087583	GLOBUS BIOTECH LIMITED	Director	30/09/2006	11/10/2005	22/04/2009	Active	NO
3	U74999DL2010PTC208038	NEUTEC HEALTHCARE PRIVATE LIMITED	Director	09/09/2010	09/09/2010	-	Active	NO

Name :

Mr. Deepak Kumar Chauhan

Designation :

Director

Address :

H No. 214, Pali 2, Pali, Bagpat – 250609, Uttar Pradesh, India

Date of Birth/Age :

02.03.1983

Date of Appointment :

01.03.2014

DIN No.:

06788892

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 29.09.2012

Names of Shareholders	No. of Shares
Gaurav Arora	1231000
Anita Rani	5000
Vitaysh Koser	395000
Bhupat R M L G	50000
Gaurav Pharma Limited, India	1200000
Total	2881000

Equity Share Break up (Percentage of Total Equity)

As on: 29.09.2012

Category	Percentage
Bodies corporate	42.00
Directors or relatives of directors	43.00
Other top fifty shareholders	15.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Trader of bulk drugs, formulations, vitamin premixes and active pharmaceutical ingredients.
Exports :	Not Available
Imports :	Not Available

GENERAL INFORMATION

Suppliers :

Not Available

Customers :

Not Available

No. of Employees :

Not Available (not able to contact the company).

Bankers :

• State Bank of India, SME Branch, Wazirpur Industrial Area, Delhi - 110052, India
• Axis Bank Limited
• Bank of Baroda

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2012
LONG TERM BORROWING
Secured Rupees Loans (Vehicle Loan taken from bank are secured by hypothecation of the financed vehicle.)	0.522
SHORT TERM BORROWINGS
Vehicle loan installment repayble in next 12 months (Transfer from Long term Borrowings)	0.218
Cash credit/WCDL/Buyer's line of credit from banks*	46.931
Total	47.671

Notes:

The above working capital loans/WCDL/Buyer's line of credit from banks are secured by first pari passu charge on all existing and future inventories and receivables of the Company along with equitable mortgage of Residential Property situated at E-34, Rajouri Garden , New Delhi, in the name of Anita Rani and 1st Charge on present and future assets of the company. The above borrowing are also personally guaranteed by both the directors namely Gaurav Arora and Anita Rani along with TPG of Krishan Arora .

Banking Relations :	--
Auditors :
Name :	Serva Associates Chartered Accountants
Address :	8/28, WEA, Karol Bagh, New Delhi – 110005, India
Tel. No.:	91-11-42502244
Fax No.:	91-11-42503562
E-Mail :	Serva.Associates@gmail.com
PAN No.:	AABFS5901R
Related Parties :	Gaurav Pharma Limited

CAPITAL STRUCTURE

As on: 29.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
3000000	Equity Shares	Rs.10/- each	Rs.30.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2881000	Equity Shares	Rs.10/- each	Rs.28.881 Millions

As on: 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
3000000	Equity Shares	Rs.10/- each	Rs.30.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
860000	Equity Shares	Rs.10/- each	Rs.8.600 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	8.600	0.100
(b) Reserves & Surplus	0.932	(0.225)
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	21.960	0.760
Total Shareholders’ Funds (1) + (2)	31.492	0.635
(3) Non-Current Liabilities
(a) long-term borrowings	0.522	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	0.522	0.000
(4) Current Liabilities
(a) Short term borrowings	47.149	0.000
(b) Trade payables	53.450	0.004
(c) Other current liabilities	0.543	0.186
(d) Short-term provisions	0.536	0.000
Total Current Liabilities (4)	101.678	0.190
TOTAL	133.692	0.825
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.986	0.062
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.116	0.098
(d) Long-term Loan and Advances	0.100	0.211
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	1.202	0.371
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	0.020	0.004
(c) Trade receivables	119.283	0.000
(d) Cash and cash equivalents	12.779	0.432
(e) Short-term loans and advances	0.000	0.000
(f) Other current assets	0.408	0.018
Total Current Assets	132.490	0.454
TOTAL	133.692	0.825

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011
	SALES
		Income
		Other Income
		TOTAL	NA	0.000
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	NA	0.323
	PROFIT/ (LOSS) BEFORE TAX		1.581	(0.323)
Less	TAX		0.424	(0.098)
	PROFIT/ (LOSS) AFTER TAX		1.157	(0.225)
	TOTAL IMPORTS		181.179	NA
	Earnings Per Share (Rs.)		1.35	NA

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011
PAT / Total Income	(%)	NA	0.00
Return on Total Assets (PBT/Total Assets}	(%)	1.18	(44.43)
Return on Investment (ROI) (PBT/Networth)		0.05	(0.51)
Debt Equity Ratio (Total Debt/Networth)		1.51	0.00
Current Ratio (Current Asset/Current Liability)		1.30	2.39

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012
	(Rs. In Millions)	(Rs. In Millions)
Share Capital	0.100	8.600
Reserves & Surplus	(0.225)	0.932
Net worth	(0.125)	9.532
long-term borrowings	0.000	0.522
Short term borrowings	0.000	47.149
Total borrowings	0.000	47.671
Debt/Equity ratio	0.000	5.001

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	No
10]	Designation of contact person	No
11]	Turnover of firm for last one year	Yes
12]	Profitability for last two 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	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	Yes

Note:

The Registered Office of the company has been shifted from 205, Sunje Tower-II, District Centre, Janak Purim New Delhi – 110058, India to the present address w.e.f. 20.04.2011

FINANCIAL RESULTS

The company is in initial stage of operations and has earned a profit of Rs.1.581 Millions. It is expected that the business would grow and the company would be able to achieve good results.

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10283289	24/11/2012 *	108,700,000.00	State Bank of India	SME BRANCH, WAZIRPUR INDUSTRIAL AREA, DELHI, DELHI - 110052, INDIA	B66268087

* Date of charge modification

FIXED ASSETS

Tangible Assets

• Plant and Machinery
• Vehicles

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.
UK Pound	1	Rs.
Euro	1	Rs.

INFORMATION DETAILS

Information Gathered by :	NAY
Analysis Done by :	RAS
Report Prepared by :	VRN

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	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	2
--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		26

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.