MIRA INFORM REPORT

Report Date :

30.10.2014

IDENTIFICATION DETAILS

Name :	STERLING HEALTHCARE LIMITED
Formerly Known As :	STERLING HEALTHCARE PRIVATE LIMITED
Registered Office :	43, Atlanta, Nariman Point, Mumbai – 400021, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	31.05.2007
Com. Reg. No.:	11-171223
Capital Investment / Paid-up Capital :	Rs. 0.500 Million
CIN No.: [Company Identification No.]	U85110MH2007PLC171223
TAN No.: [Tax Deduction & Collection Account No.]	MUMS56264F
PAN No.: [Permanent Account No.]	AAKCS8721M
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer and Contractor of Pharmaceutical Products.
No. of Employees :	Not Available [We tried to confirm the number of employees but no one is ready to part any information from the company management]

RATING & COMMENTS

MIRA’s Rating :

Ca (12)

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 :	Unknown
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. As per ROC the date of balance sheet (i.e. financial filed) is shown as 31.03.2013 but the documents related to the financial for the year 2012, 2013 are not available from any source. As per available financial of 2011, the net worth of the company has been fully eroded. Management remain non co-operative denied to disclose any information. As per registrar of companies the status of the company is shown as active. Payment terms are unknown. The company can be considered for business dealings on a 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

INDIAN ECONOMIC OVERVIEW

N E W S

Verdict Implications : Apex court order may alter coal import dynamics. Traders go slow on talks over coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.

Recent arrest of the Chennai head of the Registrar of Companies, the ministry of corporate affairs arm that ensures that companies file all the information required by the Companies Act is the latest manifestation of a messy fight between a father and his adopted son for the control of Rs 40000 mn business empire. The Central Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10 lakhs as bribe from M A M Ramaswamy, a CBI official said.

Central Bureau of Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.

Infosys maintains revenue guidance. COO Rao says attrition still an area of concern and it would take a few more quarters to bring down levels to 13-15 %.

DHL  to invest Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its e-commerce business model for the Asia-Pacific region.

Blackstone may buy stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.

Kingfisher Airlines Ltd grounded in October 2012 under the weight of heavy debt and accumulated losses, recently approached the Delhi high court for relief in two separate cases. The airline challenged a notice by Punjab & National Bank alleging that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to comply with the requirements under the listing agreements with the Stock Exchanges.

OnMobile likely to sack another 300 employees. The lay-offs follow a spate of senior-level exits over the past two years, starting with of its founder. The overall lay-offs could number around 600 and are driven by the need to cut costs, says a former employee.

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 DECLINED

Management non co-operative (91-2114-306514 / 91-22-26541241)

LOCATIONS

Registered Office :	43, Atlanta, Nariman Point, Mumbai – 400021, Maharashtra, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	sterling_healthcare@yahoo.co.in
Website :	http://www.sterlinghealthcare.co.in
Factory :	Gat No.396, Village Urse, Near Telegaon Toll Plaza, Mumbai Pune Expressway, Taluka Maval, Pune – 410506, Maharashtra, India
Tel. No.:	91-2114-306574/ 306512/ 237011/ 15

DIRECTORS

As on 30.09.2013

Name :

Mr. Nitin J. Sandesara

Designation :

Director

Address :

329, Sandesara House, Jawahar Nagar, Goregaon (West), Mumbai – 400062, Maharashtra, India

Date of Birth/Age :

19.03.1960

Date of Appointment :

10.05.2008

DIN No.:

00255496

Others 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	L51900MH1985PLC035738	STERLING BIOTECH LIMITED	Managing director	01/03/2013	08/01/1991	-	Active	NO
2	U51900MH1992PLC065487	ENSA EXPORTS INDUSTRIES LIMITED	Director	20/02/1992	20/02/1992	29/08/2008	Active	NO
3	U28932MH1961PLC012117	PMT MACHINES LIMITED	Director	25/10/1994	25/10/1994	-	Active	NO
4	U28932MH1965PTC013159	HELICOPTER SERVICES PRIVATE LIMITED	Director	21/12/1995	21/12/1995	-	Active	NO
5	U24231MH1999PLC142629	STERLING GELATIN LIMITED	Director	05/07/1999	05/07/1999	-	Active	NO
6	U67120MH1994PTC081283	ROLLSTAR FINANCE AND INVESTMENT PRIVATE LIMITED	Director	25/08/2001	25/08/2001	-	Active	NO
7	U65990MH1994PLC078934	MODI CAPITAL FINANCE (INDIA) LIMITED	Director	18/12/2004	18/12/2004	-	Active	NO
8	U24230MH2005PLC152535	AMERICAN BIOTECH LIMITED	Director	08/04/2005	08/04/2005	-	Active	NO
9	U67120MH1983PTC030445	NAVSEEMA PROPERTIES & SECURITIES PRIVATE LIMITED	Director	23/07/2005	23/07/2005	-	Active	NO
10	U45201MH2006PLC162784	STERLING SEZ AND INFRASTRUCTURE LIMITED	Director	22/06/2006	22/06/2006	-	Active	NO
11	U93090MH2006PLC165003	STERLING PORT LIMITED	Director	29/09/2006	29/09/2006	-	Active	NO
12	U29248MH2007PLC167764	PMT ENGINEERING LIMITED	Director	10/02/2007	10/02/2007	-	Active	NO
13	U85110MH2007PLC171223	STERLING HEALTHCARE LIMITED	Director	10/05/2008	31/05/2007	-	Active	NO
14	U40102MH2007PLC172187	STERLING ENERGY LIMITED	Director	09/07/2007	09/07/2007	-	Active	NO
15	U51101MH2007PTC170431	CHARISMATIC TRADING PRIVATE LIMITED	Director	13/10/2007	13/10/2007	-	Active	NO
16	U23209MH2006PLC163026	STERLING OIL RESOURCES LIMITED	Additional director	10/12/2012	01/11/2007	-	Active	NO
17	U51909MH2006PTC163616	STERLING VAYUDUT PRIVATE LIMITED	Director	26/12/2007	26/12/2007	-	Active	NO
18	U11100MH2008PTC177658	STERLING NATURAL RESOURCES PRIVATE LIMITED	Director	10/01/2008	10/01/2008	-	Active	NO
19	L72300MH2003PLC142575	STERLING INTERNATIONAL ENTERPRISES LIMITED	Director	27/12/2008	30/01/2008	-	Active	NO
20	U51909MH2006PTC163613	PMT OIL RIGS PRIVATE LIMITED	Director	05/02/2008	05/02/2008	-	Active	NO
21	U74999MH2008PLC179665	STERLING WASTE MANAGEMENT LIMITED	Director	04/03/2008	04/03/2008	-	Active	NO
22	U51909MH2006PTC163614	STERLING FREE TRADE AND WAREHOUSING ZONE PRIVATE LIMITED	Director	05/03/2008	05/03/2008	-	Active	NO
23	U45200MH2008PLC180020	STERLING SEZ AMENITIES LIMITED	Director	13/03/2008	13/03/2008	-	Active	NO
24	U63030MH2008PLC180287	STERLING SEZ TRANSPORTATION DEVELOPERS LIMITED	Director	19/03/2008	19/03/2008	-	Active	NO
25	U11100MH2008PLC180338	STERLING SEZ GAS DISTRIBUTORS LIMITED	Director	20/03/2008	20/03/2008	-	Active	NO
26	U65990MH1995PTC094451	ANTARIKSHA CAPITAL AND FINANCE (INDIA) PRIVATE LIMITED	Director	27/03/2008	27/03/2008	-	Active	NO
27	U65990MH1992PTC066328	SWADESHI FINVEST PVT LTD	Director	27/03/2008	27/03/2008	-	Active	NO
28	U45202MH1994PTC083920	SEALORD ERECTIONS PRIVATE LIMITED	Director	27/03/2008	27/03/2008	-	Active	NO
29	U51900MH1999PTC118278	EMINENCE TRADING PRIVATE LIMITED	Director	28/03/2008	28/03/2008	-	Active	NO
30	U45203MH2008PLC180607	STERLING SEZ DEVELOPERS LIMITED	Director	28/03/2008	28/03/2008	-	Active	NO
31	U15530MH2008PTC182095	STERLING WINES PRIVATE LIMITED	Director	10/05/2008	10/05/2008	-	Active	NO
32	U40102MH2008PLC184431	STERLING SEZ POWER DISTRIBUTION COMPANY LIMITED	Director	08/07/2008	08/07/2008	-	Active	NO
33	U62200MH2008PTC184398	STERLING VADODARA INTERNATIONAL AIRPORT PRIVATE LIMITED	Director	08/07/2008	08/07/2008	-	Active	NO
34	U72900MH2008PLC186896	STERLING SEZ TELE SERVICES LIMITED	Director	19/09/2008	19/09/2008	-	Active	NO
35	U52300MH2010PTC199487	HIZIN MERCANTILE PRIVATE LIMITED	Additional director	23/10/2013	23/10/2013	-	Active	NO
36	U52300MH2014PTC252173	PIOUS MERCANTILE PRIVATE LIMITED	Director	17/01/2014	17/01/2014	-	Active	NO

Name :

Mr. Jagbhushan O. Dixit

Designation :

Director

Address :

204/12, Jawahar Nagar, Goregaon (West), Mumbai – 400062, Maharashtra, India

Date of Birth/Age :

13.04.1963

Date of Appointment :

10.05.2008

DIN No.:

01683602

Others 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	U70100MH2005PTC156747	PLANATIUM INFRASTRUCTURE PRIVATE LIMITED	Director	22/06/2007	22/06/2007	-	Active	NO
2	U85110MH2007PLC171223	STERLING HEALTHCARE LIMITED	Director	10/05/2008	10/05/2008	-	Active	NO

Name :

Ms. Dipti Chetan Sandesara

Designation :

Director

Address ::

58 A,Punit Nagar,Old Padraroad, Baroda - 390015, Gujarat, India

Date of Birth/Age :

16.11.1964

Date of Appointment :

15.12.2010

DIN No.:

00090491

Others 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	U67120MH1979PTC022008	VED INVESTMENT AND TRADING COMPANY PRIVATE LIMITED	Director	25/08/2004	25/08/2004	25/08/2004	Active	NO
2	U85190MH2002PTC134717	UNIQUE PROTEINS PRIVATE LIMITED	Director	18/12/2004	18/12/2004	-	Active	NO
3	U17000MH1997PTC104925	JAICO TEXTILES PRIVATE LIMITED	Director	18/12/2004	18/12/2004	-	Active	NO
4	U67120MH1996PTC098231	SANYUKTA INVESTRADE PRIVATE LIMITED	Director	18/12/2004	18/12/2004	-	Active	NO
5	U15449MH1996PTC098677	SHAMEEK BREWERIES PRIVATE LIMITED	Director	18/12/2004	18/12/2004	-	Active	NO
6	U67120MH1994PTC081283	ROLLSTAR FINANCE AND INVESTMENT PRIVATE LIMITED	Director	18/12/2004	18/12/2004	-	Active	NO
7	U67120MH1992PTC067140	RICHMOND INVESTMENTS PVT LTD	Director	18/12/2004	18/12/2004	-	Active	NO
8	U28932MH1965PTC013159	HELICOPTER SERVICES PRIVATE LIMITED	Director	18/12/2004	18/12/2004	-	Active	NO
9	U85110MH1996PTC102235	ADITI HOSPITALS PRIVATE LIMITED	Director	18/12/2004	18/12/2004	-	Active	NO
10	U15120MH1995PTC085695	PUJA AQUA FARMS PRIVATE LIMITED	Director	18/12/2004	18/12/2004	-	Active	NO
11	U22100MH1996PTC102234	PAYSAN PUBLISHERS PRIVATE LIMITED	Director	18/12/2004	18/12/2004	-	Active	NO
12	U65990MH1980PTC022219	NATASHA INVESTMENT COMPANY PRIVATE LIMITED	Director	18/12/2004	18/12/2004	-	Active	NO
13	U65990MH1994PLC078934	MODI CAPITAL FINANCE (INDIA) LIMITED	Director	18/12/2004	18/12/2004	-	Active	NO
14	U67120MH1992PTC067146	JANGPRIYA INVESTMENTS PVT LTD	Director	18/12/2004	18/12/2004	-	Active	NO
15	U51310MH2000PTC129978	DORAL TRADING PRIVATE LIMITED	Director	18/12/2004	18/12/2004	-	Active	NO
16	U65910MH1996PTC102134	BULLWORTH INVESTRADE PRIVATE LIMITED	Director	18/12/2004	18/12/2004	-	Active	NO
17	U99999MH1994PTC082298	ANULA PROPERTIES PRIVATE LIMITED	Director	18/12/2004	18/12/2004	-	Active	NO
18	U51900MH1997PTC105697	BLUE-MARK MERCANTILE PRIVATE LIMITED	Director	18/12/2004	18/12/2004	-	Active	NO
19	U67120MH1995PTC095119	PRABAL INVESTRADE PRIVATE LIMITED	Director	20/12/2004	20/12/2004	-	Active	NO
20	U51900MH1997PTC106476	TARANA EXPORTS PRIVATE LIMITED	Director	31/03/2006	31/03/2006	-	Active	NO
21	U51500MH1997PTC106303	RELIQUE LEASFIN PRIVATE LIMITED	Director	31/03/2006	31/03/2006	-	Active	NO
22	U51900MH2006PTC159668	STERLING FITNESS AND WELLNESS PRIVATE LIMITED	Director	03/11/2006	03/11/2006	-	Active	NO
23	U45202MH1999PLC171992	MAA INFRASTRUCTURE COMPANY LIMITED	Director	16/01/2007	16/01/2007	-	Active	NO
24	U29248MH2007PLC167764	PMT ENGINEERING LIMITED	Director	10/02/2007	10/02/2007	-	Active	NO
25	U85190MH2002PTC134718	SOHAM PROTEINS PRIVATE LIMITED	Director	28/02/2007	28/02/2007	-	Active	NO
26	U51900MH1997PTC107662	HIZIN TRADING COMPANY PRIVATE LIMITED	Director	28/02/2007	28/02/2007	-	Active	NO
27	U65910MH1997PTC107567	COYOTE LEASING PRIVATE LIMITED	Director	28/02/2007	28/02/2007	-	Active	NO
28	U63000MH1997PTC109195	CIEL PORT MANAGEMENT PRIVATE LIMITED	Director	28/02/2007	28/02/2007	-	Active	NO
29	U67190MH1996PTC103762	TITANIC INVESTMENT AND CONSULTANTS PRIVATE LIMITED	Director	30/03/2007	30/03/2007	-	Active	NO
30	U45201MH2006PTC162802	SHRIPAL INFRASTRUCTURE PRIVATE LIMITED	Director	11/10/2007	11/10/2007	-	Active	NO
31	U23209MH2006PLC163026	STERLING OIL RESOURCES LIMITED	Director	01/11/2007	01/11/2007	-	Active	NO
32	U70101DL2005PTC139332	BRIGHTDAY PROPERTIES PRIVATE LIMITED	Director	13/12/2007	13/12/2007	-	Active	NO
33	U65990MH1995PTC094451	ANTARIKSHA CAPITAL AND FINANCE (INDIA) PRIVATE LIMITED	Director	27/03/2008	27/03/2008	-	Active	NO
34	U65990MH1992PTC066328	SWADESHI FINVEST PVT LTD	Director	27/03/2008	27/03/2008	-	Active	NO
35	U45202MH1994PTC083920	SEALORD ERECTIONS PRIVATE LIMITED	Director	27/03/2008	27/03/2008	-	Active	NO
36	U67120MH1995PTC087997	ANTARIKSHA SECURITIES PRIVATE LIMITED	Director	28/03/2008	28/03/2008	-	Active	NO
37	U51900MH1999PTC118278	EMINENCE TRADING PRIVATE LIMITED	Director	28/03/2008	28/03/2008	-	Active	NO
38	U52320MH1996PTC099077	MARUT APPARELS PRIVATE LIMITED	Director	28/03/2008	28/03/2008	-	Active	NO
39	U51900MH1992PLC065487	ENSA EXPORTS INDUSTRIES LIMITED	Director	29/08/2008	29/08/2008	-	Active	NO
40	U17120MH1989PTC051032	AAGI TEXTILES PRIVATE LIMITED	Director	29/08/2008	29/08/2008	-	Active	NO
41	U70102MH2007PTC174407	BRISK PROPERTIES PRIVATE LIMITED	Director	04/05/2009	04/05/2009	-	Active	NO
42	U11100MH2008PLC180338	STERLING SEZ GAS DISTRIBUTORS LIMITED	Director	25/08/2009	25/08/2009	-	Active	NO
43	U45203MH2008PLC180607	STERLING SEZ DEVELOPERS LIMITED	Director	25/08/2009	25/08/2009	-	Active	NO
44	U45200MH2008PLC180020	STERLING SEZ AMENITIES LIMITED	Director	25/08/2009	25/08/2009	-	Active	NO
45	U74999MH2008PLC179665	STERLING WASTE MANAGEMENT LIMITED	Director	25/08/2009	25/08/2009	-	Active	NO
46	U72900MH2008PLC186896	STERLING SEZ TELE SERVICES LIMITED	Director	25/08/2009	25/08/2009	-	Active	NO
47	U63030MH2008PLC180287	STERLING SEZ TRANSPORTATION DEVELOPERS LIMITED	Director	25/08/2009	25/08/2009	-	Active	NO
48	U40102MH2008PLC184431	STERLING SEZ POWER DISTRIBUTION COMPANY LIMITED	Director	25/08/2009	25/08/2009	-	Active	NO
49	U52300MH2010PTC199487	HIZIN MERCANTILE PRIVATE LIMITED	Director	30/01/2010	30/01/2010	23/10/2013	Active	NO
50	U70102MH2010PTC199630	BLUE-MARK PROPERTIES PRIVATE LIMITED	Director	03/02/2010	03/02/2010	-	Active	NO
51	U52100MH2010PTC199785	SHAMEEK MERCANTILE PRIVATE LIMITED	Director	05/02/2010	05/02/2010	23/10/2013	Active	NO
52	U70200MH2010PTC199828	JANGPRIYA PROPERTIES PRIVATE LIMITED	Director	08/02/2010	08/02/2010	-	Active	NO
53	U85110MH2007PLC171223	STERLING HEALTHCARE LIMITED	Director	15/12/2010	15/12/2010	-	Active	NO
54	U70102MH2014PTC252170	HAUGHTY PROPERTIES PRIVATE LIMITED	Director	17/01/2014	17/01/2014	-	Active	NO
55	U70200MH2014PTC252273	OSMUND PROPERTIES PRIVATE LIMITED	Director	20/01/2014	20/01/2014	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2013

Names of Shareholders	No. of Shares
Nitin Jayantilal Sabdesara	5000
Antariksha Capital And Finance Private Limited, India	5000
Aditi Hospitals Private Limited, India	8000
Anula Properties Private Limited, India	8000
Blue-Mark Mercantile Private Limited, India	8000
Bullworth Investrade Private Limited, India	8000
Doral Trading Private Limited, India	8000
Total	50000

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	90.00
Directors or relatives of Directors	10.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Contractor of Pharmaceutical Products.

GENERAL INFORMATION

No. of Employees :	Not Available [We tried to confirm the number of employees but no one is ready to part any information from the company management]
Bankers :	Not Divulged
Facilities :	--

Banking Relations :	--
Auditors :
Name :	H. S. Hathi and Company Chartered Accountant
Address :	Plot No.110/5, Jawahar Nagar, Goregaon (West), Mumbai – 400062, Maharashtra, India
PAN No.:	AABFH8825R

CAPITAL STRUCTURE

As on 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	Rs.10/- each	Rs. 5.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	Rs. 0.500 Million

FINANCIAL DATA

[all figures are in Rupees Millions].

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		0.500	0.100	0.100
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		(92.128)	(30.047)	(0.162)
NETWORTH		(91.628)	(29.947)	(0.062)
LOAN FUNDS
1] Secured Loans		0.215	0.494	0.728
2] Unsecured Loans		269.610	309.535	243.175
TOTAL BORROWING		269.825	310.029	243.903
DEFERRED TAX LIABILITIES		7.255	2.747	0.000
TOTAL		185.452	282.829	243.841
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		155.595	155.154	0.000
Capital work-in-progress		0.000	117.500	204.844
INVESTMENT		0.005	0.005	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	3.330	0.000	0.000
	Sundry Debtors	11.713	1.648	0.000
	Cash & Bank Balances	1.364	1.609	1.090
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	29.078	20.323	17.901
Total Current Assets		45.485	23.580	18.991
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000	0.000	0.000
	Other Current Liabilities	15.705	13.505	8.710
	Provisions	0.000	0.000	0.133
Total Current Liabilities		15.705	13.505	8.843
Net Current Assets		29.780	10.075	10.148
MISCELLANEOUS EXPENSES		0.072	0.095	28.849
TOTAL		185.451	282.829	243.841

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	46.902	3.482
		Other Income	0.345	0.020
		TOTAL	47.247	3.502
Less	EXPENSES
		Raw Materials Consumed	25.275	3.472
		Administrative Expenses	71.696	24.275
		Miscellaneous Expenses w/off	0.024	0.024
		TOTAL	96.995	27.771
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		(49.748)	(24.269)
Less/ Add	DEPRECIATION/ AMORTISATION		7.826	2.869	NA
	PROFIT BEFORE/ (LOSS) TAX		(57.574)	(27.138)
Less	TAX		4.507	2.747
	PROFIT/ (LOSS) AFTER TAX		(62.081)	(29.885)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(30.047)	(0.162)
	BALANCE CARRIED TO THE B/S		(92.128)	(30.047)
	Earnings Per Share (Rs.)		(1241.62)	(597.70)

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	(131.40)	(853.37)	NA
Net Profit Margin (PBT/Sales)	(%)	(122.75)	(779.38)	NA
Return on Total Assets (PBT/Total Assets}	(%)	(126.58)	(115.09)	NA
Return on Investment (ROI) (PBT/Networth)		(115.15)	(271.38)	NA
Debt Equity Ratio (Total Debt /Networth)		539.65	3100.29	2439.03
Current Ratio (Current Asset/Current Liability)		1.53	2.34	2.15

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2009	31.03.2010	31.03.2011
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	0.100	0.100	0.500
Reserves & Surplus	0.000	0.000	0.000
Net worth	0.100	0.100	0.500
Secured Loans	0.728	0.494	0.215
Unsecured Loans	243.175	309.535	269.610
Total borrowings	243.903	310.029	269.825
Debt/Equity ratio	2,439.030	3,100.290	539.650

YEAR ON YEAR GROWTH

Year on Year Growth	31.03.2010	31.03.2011
	(Rs. In Millions)	(Rs. In Millions)
Sales	3.482	46.902
		1,246.984

NET PROFIT MARGIN

Net Profit Margin	31.03.2010	31.03.2011
	(Rs. In Millions)	(Rs. In Millions)
Sales	3.482	46.902
Profit	(29.885)	(62.081)
	(858.27)%	(132.36)%

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	No
10]	Designation of contact person	No
11]	Turnover of firm for last two years	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	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	No
24]	Banking facility details	No
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

NOTE:

The Registered Office of the company has been shifted form C-2, Nand Dham, Bangur Nagarm Goregaon (West), Mumbai, Maharashtra, India, to the present address w.e.f. 10.05.2008.

INDEX OF CHARGES: NO CHARGES EXIST FOR THE COMPANY

OPERATION

During the year the Company has earned Income of Rs. 47.247 Millions and Profit/Loss before Tax of Rs. (57.574) Millions As against Income of Rs. 3.503 Millions and Profit/Loss before Tax of Rs. (27.138) Millions in previous year. The Directors expect that performance of the Company will be improved in the coming Years.

FIXED ASSETS

• Factory Building
• Plant and Machinery
• Electrical Fitting
• Furniture and Fixture
• Office Equipments
• Computer
• 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 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.61.35
UK Pound	1	Rs.98.93
Euro	1	Rs.77.92

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	DIV
Report Prepared by :	KLS

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILIRY	1~10	--
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	2
--RESERVES	1~10	--
--CREDIT LINES	1~10	--
--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		12

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.