MIRA INFORM REPORT

Report No. :	312410
Report Date :	29.04.2015

IDENTIFICATION DETAILS

Name :	HOMETRAIL BUILDTECH PRIVATE LIMITED
Registered Office :	Max House, 1, Dr. Jha Marg, Okhla, New Delhi – 110 020
Tel. No.:	91-11-41612127
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	21.04.2008
Com. Reg. No.:	55-176962
Capital Investment / Paid-up Capital :	Rs.310.100 million
CIN No.: [Company Identification No.]	U45400DL2008PTC176962
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	DELH07149C
PAN No.: [Permanent Account No.]	AACCH1518B
Legal Form :	Private Limited Liability Company
Line of Business :	Subject operates in the healthcare services business. It focuses on establishing, maintaining, and running a super specialty hospital.
No. of Employees :	Information declined by the Management.

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

Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having a moderate track. The company has incurred an accumulated loss during 2014. External borrowings of the company also seems to be huge. However, trade relations are fair. Business is active. Payment terms are slow but correct. The company can be considered for business dealings with some cautions.

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 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
India	A1	A1

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

EXTERNAL AGENCY RATING

NOT AVAILABLE

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-cooperative

(Tel. No.: 91-11-41612127)

LOCATIONS

Registered Office :	Max House, 1, Dr. Jha Marg, Okhla, New Delhi – 110 020, India
Tel. No. :	91-11-26933610/ 41612127
Fax No. :	91-11-26324126/ 41612155
E-Mail :	secretarial@maxhealthcare.com
Website :	www.maxindia.com

DIRECTORS

AS ON 25.09.2014

Name :

Ms. Sujatha Ratnam

Designation :

Director

Address :

B-233, Sector - 50, Noida – 201 301, Uttar Pradesh, India

Date of Birth/Age :

05.08.1964

Date of Appointment :

30.09.2009

DIN No.:

00403024

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	U24232PB1989PLC009741	PHARMAX CORPORATION LIMITED	Director	01/01/2005	01/01/2005	-	Active	NO
2	U70101PB1998PLC021363	NEW DELHI HOUSE SERVICES LIMITED	Director	09/03/2005	09/03/2005	-	Active	NO
3	U74899DL1994PLC060700	MAX ATEEV LIMITED	Director	29/03/2005	29/03/2005	-	Active	NO
4	U65990MH1997PTC112707	TELECOM INVESTMENTS INDIA PRIVATE LIMITED	Director	29/09/2006	16/08/2006	28/08/2012	Active	NO
5	U65993WB1997PLC085278	UMT INVESTMENTS LIMITED	Director	29/09/2006	16/08/2006	28/08/2012	Active	NO
6	U65990MH1999PTC121979	JAYKAY FINHOLDING (INDIA) PRIVATE LIMITED	Director	29/09/2006	16/08/2006	28/08/2012	Active	NO
7	U32202WB1995PLC069502	USHA MARTIN TELEMATICS LIMITED	Director	16/08/2006	16/08/2006	28/08/2012	Active	NO
8	U62200DL2004PTC131655	FORUM I AVIATION PRIVATE LIMITED	Director	25/09/2007	15/12/2006	-	Active	NO
9	U74140DL2008PTC175230	ABK CONSULTANTS PRIVATE LIMITED	Director	30/09/2010	14/03/2008	13/05/2013	Active	NO
10	U25200PB2008PLC031807	MAX SPECIALITY PRODUCTS LIMITED	Director	31/03/2008	31/03/2008	-	Active	NO
11	U70101PB1999PLC022109	MALSI ESTATES LIMITED	Director	26/09/2008	03/07/2008	-	Active	NO
12	U85199DL2003PLC119249	MAX HEALTHSTAFF INTERNATIONAL LIMITED	Director	28/09/2009	24/10/2008	-	Active	NO
13	U74899DL1994PLC061314	MAX MEDICAL SERVICES LIMITED	Director	28/09/2009	14/01/2009	-	Active	NO
14	U45400DL2008PTC176962	HOMETRAIL BUILDTECH PRIVATE LIMITED	Director	30/09/2009	02/04/2009	-	Active	NO
15	U45400DL2008PTC176963	HOMETRAIL ESTATE PRIVATE LIMITED	Director	30/09/2009	02/04/2009	-	Active	NO
16	U70100DL2008PTC182834	PIVETA ESTATES PRIVATE LIMITED	Director	30/09/2010	14/09/2009	-	Active	NO
17	U74999DL1999PLC102149	MAX NEEMAN MEDICAL INTERNATIONAL LIMITED	Director	28/09/2010	17/12/2009	-	Active	NO
18	U74899DL1989PLC036413	ALPS HOSPITAL LIMITED	Director	28/09/2010	17/12/2009	-	Active	NO
19	U74999DL2003PTC122373	MV HEALTHCARE SERVICES PRIVATE LIMITED	Director	30/09/2010	04/03/2010	28/08/2012	Active	NO
20	U55101DL2009PTC196524	SOLACE HOTELS AND HOSPITALITY SERVICES PRIVATE LIMITED	Director	29/09/2010	30/03/2010	-	Active	NO
21	U51900MH2006PTC158923	PLUSTECH MERCANTILE COMPANY PRIVATE LIMITED	Director	29/09/2010	02/06/2010	28/08/2012	Active	NO
22	U15928MH2006PTC159281	AG MERCANTILE COMPANY PRIVATE LIMITED	Director	29/09/2010	02/06/2010	28/08/2012	Active	NO
23	U51900MH2006PTC158894	NADAL TRADING COMPANY PRIVATE LIMITED	Director	29/09/2010	02/06/2010	28/08/2012	Active	NO
24	U64200MH1995PTC087657	OMEGA TELECOM HOLDINGS PRIVATE LIMITED	Additional director	24/11/2011	24/11/2011	28/08/2012	Active	NO
25	U65921MH2006PTC163408	SMMS INVESTMENTS PRIVATE LIMITED	Additional director	24/11/2011	24/11/2011	28/08/2012	Active	NO
26	U65993DL1983PLC017164	CHEM INVEST LIMITED	Director	24/09/2012	12/12/2011	27/05/2013	Active	NO
27	U74140DL2011PLC218781	ANTARA SENIOR LIVING LIMITED	Director	28/08/2013	13/03/2013	-	Active	NO
28	U74120UR1995PLC018283	ANTARA PURUKUL SENIOR LIVING LIMITED	Director	26/08/2013	07/05/2013	-	Active	NO
29	U74140DL2012PLC244411	ANTARA GURGAON SENIOR LIVING LIMITED	Director	31/12/2013	19/11/2013	-	Active	NO
30	U24100PB2012PLC036981	MAX SPECIALITY FILMS LIMITED	Additional director	13/03/2014	13/03/2014	-	Active	NO

Name :

Mr. Yogesh Kumar Sareen

Designation :

Director

Address :

H. No.ES 083, Nirvana Country, Gurgaon – 122 004, Haryana, India

Date of Birth/Age :

11.10.1964

Date of Appointment :

25.09.2012

DIN No.:

00884252

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	U74899DL1995PLC070691	RANBAXY DRUGS AND CHEMICALS COMPANY	Director	29/06/2007	18/10/2006	14/02/2008	Amalgamated	NO
2	U24232PB1984PLC005725	RANBAXY DRUGS LIMITED	Director	31/05/2007	18/10/2006	14/02/2008	Active	NO
3	L85110DL1989PLC276986	FORTIS MALAR HOSPITALS LIMITED	Director	25/03/2008	19/02/2008	30/03/2010	Active	NO
4	U85110DL2008PLC176412	FORTIS HEALTH MANAGEMENT LIMITED	Director	28/07/2008	07/04/2008	15/11/2011	Active	NO
5	U85110DL2008PLC176522	FORTIS HOSPITAL MANAGEMENT LIMITED	Director	09/04/2008	09/04/2008	12/03/2009	Active	NO
6	U85100DL2008PTC175302	RELIANT HEALTHCARE CONSULTANCY PRIVATE LIMITED	Additional director	30/05/2008	30/05/2008	02/01/2009	Active	NO
7	U74899HR1990PLC054770	FORTIS HOSPOTEL LIMITED	Director	17/09/2008	30/05/2008	15/11/2011	Active	NO
8	U85110HR1997PLC048256	ESCORTS HOSPITAL AND RESEARCH CENTRE LIMITED	Director	17/09/2008	30/05/2008	15/11/2011	Amalgamated	NO
9	U74999HR1994PLC048225	INTERNATIONAL HOSPITAL LIMITED	Director	17/09/2008	30/05/2008	15/11/2011	Active	NO
10	U85110HR1998PLC048142	ESCORTS HEART AND SUPER SPECIALITY INSTITUTE LIMITED	Director	17/09/2008	30/05/2008	06/09/2011	Amalgamated	NO
11	U85110DL2003PLC120016	ESCORTS HEART AND SUPER SPECIALITY HOSPITAL LIMITED	Director	17/09/2008	30/05/2008	15/11/2011	Active	NO
12	U85110KA2005PTC035863	LALITHA HEALTHCARE PRIVATE LIMITED	Director	29/09/2008	03/06/2008	27/04/2010	Active	NO
13	U85110CH2000PLC023744	ESCORTS HEART INSTITUTE AND RESEARCH CENTRE LIMITED	Director	23/09/2009	03/07/2008	15/11/2011	Active	NO
14	U93000DL2009PLC189866	FORTIS EMERGENCY SERVICES LIMITED	Director	11/06/2009	30/04/2009	15/11/2011	Active	NO
15	U93000DL2009PLC222166	FORTIS HOSPITALS LIMITED	Director	05/09/2011	18/06/2009	15/11/2011	Active	NO
16	U93000TN2009PLC072209	MALAR STARS MEDICARE LIMITED	Additional director	01/10/2009	01/10/2009	18/01/2010	Active	NO
17	U85100HR1988PLC048080	KANISHKA HEALTHCARE LIMITED	Additional director	17/12/2009	17/12/2009	12/07/2010	Amalgamated	NO
18	U85110DL2011PLC217187	FORTIS HEALTH MANAGEMENT(NORTH) LIMITED	Director	06/04/2011	06/04/2011	15/11/2011	Amalgamated	NO
19	U85190DL2011PLC217462	FORTIS HEALTH MANAGEMENT (EAST) LIMITED	Director	13/04/2011	13/04/2011	15/11/2011	Active	NO
20	U85100DL2011PLC217500	FORTIS LA FEMME LIMITED	Additional director	06/09/2011	06/09/2011	15/11/2011	Active	NO
21	U45400DL2008PTC176962	HOMETRAIL BUILDTECH PRIVATE LIMITED	Director	25/09/2012	02/04/2012	-	Active	NO
22	U45400DL2008PTC176963	HOMETRAIL ESTATE PRIVATE LIMITED	Director	25/09/2012	02/04/2012	-	Active	NO
23	U74899DL1994PLC061314	MAX MEDICAL SERVICES LIMITED	Director	25/09/2012	02/04/2012	-	Active	NO
24	U74899DL1989PLC036413	ALPS HOSPITAL LIMITED	Director	20/09/2013	14/12/2012	-	Active	NO

Name :

Mr. Anil Vinayak

Designation :

Director

Address :

S-331, First Floor, Panchsheel Park, New Delhi – 110 017, India

Date of Birth/Age :

10.11.1965

Date of Appointment :

30.08.2013

DIN No.:

02407380

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	U74999MH2007PTC171245	EUROP ASSISTANCE INDIA PRIVATE LIMITED	Managing director	18/12/2008	06/11/2008	15/01/2012	Active	NO
2	U45400DL2008PTC176962	HOMETRAIL BUILDTECH PRIVATE LIMITED	Director	30/08/2013	01/07/2013	-	Active	NO

Name :

Mr. Haresh Trivedi Dahyalal

Designation :

Whole-time Director

Address :

805/6, Woodbine, Everest World, Kolshet Road, Opposite Bayer India, Dhokali, Thane Chitalsar, Manpada – 400 607, Maharashtra, India

Date of Birth/Age :

03.07.1973

Date of Appointment :

25.09.2014

DIN No.:

06863423

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	U45400DL2008PTC176962	HOMETRAIL BUILDTECH PRIVATE LIMITED	Whole-time director	25/09/2014	26/05/2014	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Sanjeev Kumar Bansal
Designation :	Chief Financial Officer
Address :	H. No.16992, Ist Floor, Street No.1B, Aggarwal Colony, Bathinda – 151 001, Punjab, India
Date of Appointment :	06.02.2015
PAN No.:	AZXPK4072E
Name :	Mr. Yogesh Sharma
Designation :	Secretary
Address :	B-5421, Street No.115/14, Santnagar, New Delhi – 110 084, India
Date of Birth/Age :	25.08.1987
Date of Appointment :	01.09.2013
PAN No.:	CWYPS1091P

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 25.09.2014

Names of Shareholders (Equity Shares)	No. of Shares
Max Healthcare Institute Limited, India	11009994
C.V. Raghu*	1
M.G. Rajagopalan*	1
B. Das*	1
V. Krishnan*	1
Rajinder Kumar*	1
Yogesh Kumar Gupta*	1
Total	11010000

* Shares held as a nominee of Max Healthcare Institute Limited.

Names of Shareholders (Preference Shares)	No. of Shares
Max Healthcare Institute Limited, India	2000000
Total	2000000

AS ON 25.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	99.99
Other top fifty shareholders	0.01
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject operates in the healthcare services business. It focuses on establishing, maintaining, and running a super specialty hospital.
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Not Divulged
Purchasing :	Not Divulged

PRODUCTION STATUS – NOT AVAILABLE

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 :

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 :

Information declined by the Management.

Bankers :

Banker Name	Axis Bank Limited
Branch Address	2^nd Floor, Statemans House, 148, Barakhamba Road, New Delhi – 110 001, India
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG TERM BORROWINGS
Rupee term loans from others (Term loan from Non-Banking Financial Company)	524.373	511.734
Long-term maturities of finance lease obligations (Finance lease obligation is secured by hypothecation of medical equipments underlying the leases in 20 quarterly installments.)	8.558	13.466
SHORT TERM BORROWINGS
Working capital loans from banks (Cash credit facility from bank is secured by first charge by way of hypothecation of the company's current assets and second charge on entire movable fixed assets)	11.199	14.783
Total	544.130	539.983

Banking Relations :	--
Auditors :
Name :	S R B C and Company LLP Chartered Accountants
Address :	Golf View Corporate Tower B, Sector - 42, Sector Road, Gurgaon – 122 002, Haryana, India
PAN No.:	ABSFS4151K
Memberships :	Not Available
Collaborators :	Not Available
Holding Company :	Max Healthcare Institute Limited, India
Fellow Subsidiary Companies :	Max Life Insurance Company Limited, India Hometrail Estate Private Limited, India Max Bupa Healthcare Insurance Limited, India

CAPITAL STRUCTURE

AS ON 25.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
15000000	Equity Shares	Rs.10/- each	Rs.150.000 million
2000000	Preference Shares	Rs.100/- each	Rs.200.000 million
	Total		Rs.350.000 million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
11010000	Equity Shares	Rs.10/- each	Rs.110.100 million
2000000	Preference Shares	Rs.100/- each	Rs.200.000 million
	Total		Rs.310.100 million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1) Shareholders' Funds
(a) Share Capital	310.100	110.100	110.100
(b) Reserves & Surplus	(179.251)	68.536	290.837
(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)	130.849	178.636	400.937
(3) Non-Current Liabilities
(a) Long-term borrowings	680.136	529.606	445.239
(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	1.381	0.464	0.142
Total Non-current Liabilities (3)	681.517	530.070	445.381
(4) Current Liabilities
(a) Short term borrowings	11.199	148.018	0.000
(b) Trade payables	53.470	54.144	35.319
(c) Other current liabilities	73.436	67.221	140.948
(d) Short-term provisions	1.745	1.289	0.588
Total Current Liabilities (4)	139.850	270.672	176.855
TOTAL	952.216	979.378	1023.173
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	876.796	919.565	928.707
(ii) Intangible Assets	0.318	0.410	0.502
(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	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.757	0.513	7.472
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	877.871	920.488	936.681
(2) Current assets
(a) Current investments	0.000	0.000	42.312
(b) Inventories	12.548	13.164	12.878
(c) Trade receivables	19.170	10.236	4.941
(d) Cash and cash equivalents	32.250	29.472	23.762
(e) Short-term loans and advances	6.965	4.842	2.004
(f) Other current assets	3.412	1.176	0.595
Total Current Assets	74.345	58.890	86.492
TOTAL	952.216	979.378	1023.173

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Revenue from Operations	273.059	187.770	31.319
		Other Income	2.666	3.435	5.303
		TOTAL	275.725	191.205	36.622
Less	EXPENSES
		TOTAL	376.907	298.386	117.288
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		(101.182)	(107.181)	(80.666)
Less	FINANCIAL EXPENSES		100.844	66.703	30.146
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		(202.026)	(173.884)	(110.812)
Less/ Add	DEPRECIATION/ PROVISION FOR OBSOLESCENCE/ IMPAIRMENT		45.083	48.417	23.625
	PROFIT/ (LOSS) BEFORE TAX		(247.109)	(222.301)	(134.437)
Less	TAX		0.000	0.000	0.000
	PROFIT/ (LOSS) AFTER TAX		(247.109)	(222.301)	(134.437)
	IMPORTS
		Capital Goods	0.000	1.004	89.453
		Trading Goods	0.711	0.000	0.000
	TOTAL IMPORTS		0.711	1.004	89.453
	Earnings / (Loss) Per Share (Rs.)		(18.99)	(20.19)	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	(90.50)	(118.39)	(429.25)
Operating Profit Margin (PBDIT/ Sales)	(%)	(37.05)	(57.08)	(257.56)
Return on Total Assets (PBT/Total Assets}	(%)	(25.95)	(22.70)	(13.14)
Return on Investment (ROI) (PBT/Networth)		(1.89)	(1.24)	(0.34)
Debt Equity Ratio (Total Debt/Networth)		5.28	3.79	1.11
Current Ratio (Current Asset/Current Liability)		0.53	0.22	0.49

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(INR in Million)	(INR in Million)	(INR in Million)
Share Capital	110.100	110.100	310.100
Reserves & Surplus	290.837	68.536	-179.251
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	400.937	178.636	130.849
Long Term borrowings	445.239	529.606	680.136
Short Term borrowings	0.000	148.018	11.199
Total borrowings	445.239	677.624	691.335
Debt/Equity ratio	1.110	3.793	5.283

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(INR in Million)	(INR in Million)	(INR in Million)
Revenue from Operations	31.319	187.770	273.059
		499.540	45.422

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(INR in Million)	(INR in Million)	(INR in Million)
Revenue from Operations	31.319	187.770	273.059
Profit	(134.437)	(222.301)	(247.109)
	(429.25%)	(118.39%)	(90.50%)

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

REVIEW OF OPERATIONS

In pursuance to the concession agreement executed with the Government of Punjab for setting up of a Super- Specialty hospital in Bhatinda, the Company is running a hospital with the installed capacity of 200 beds in the industrial town of Bathinda, Punjab. The hospital has been set up as Public Private Partnership with Govt. of Punjab, and was commissioned in September, 2011.

During the FY 2013-14, the revenue grew to Rs.278.000 million. In March 2014, 59 beds were operational (29 Critical and 30 non-critical) and hospital was running at 77.4% bed occupancy. Cardiac and Neuro Sciences has been the key driver of business. The OPD patients increased from monthly average of 2320 OP Consults in FY 12-13 to 3668 in FY 13-14. Manpower strength is 286 comprising of 51 physicians, 105 nurses, 66 paramedics and 64 Support staff. The ramp up has been slow mainly due to challenges faced in attracting experienced doctors to the city.

During the year, several new specialties were added to the existing services notably the ‘Diabetic and Metabolic Diseases Centre’ which led to a remarkable increase in patient footfalls. The Company also got empanelled with Ex-servicemen Contributory Health Scheme (ECHS) during the year.

The Company continued to partner with the Government of Punjab in eradicating cancer from the State. Towards this direction, more than 200 cancer patients were treated under ‘Mukhya Mantri Punjab Cancer Rahat Kosh Scheme’ of the Government of Punjab. Government of Punjab had organized a mega camp named ‘Punjab Cancer Screening Camp’ on 28th-29th September 2013 in association with ‘Max India Foundation’. The Company participated in this camp by organizing 4 such camps at district Civil Hospitals of Bathinda, Mansa, Barnala and Fazilka Districts.

UNSECURED LOANS

PARTICULARS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG TERM BORROWINGS
Deferred payment foreign sources	0.000	4.406
Intercorporate deposits	147.205	0.000
SHORT TERM BORROWINGS
Intercorporate deposits	0.000	133.235
Total	147.205	137.641

INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10375836	26/03/2013 *	50,000,000.00	AXIS BANK LIMITED	2ND FLOOR, STATEMANS HOUSE, 148, BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA	B71515910
2	10328967	15/11/2011	36,180,000.00	SREI EQUIPMENT FINANCE PRIVATE LIMITED	'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA	B29514973
3	10264730	09/12/2010	550,000,000.00	LANDT INFRASTRUCTURE FINANCE COMPANY LIMITED	MOUNT POONAMALLEE ROAD, MANAPAKKAM, CHENNAI, TAMILNADU - 600089, INDIA	B04772794

* Date of charge modification

FIXED ASSETS

Tangible Assets

· Buildings

· Plant and Equipments

· Furniture and Fixtures

· Vehicles

· Computer Equipments

· Office Equipments

Intangible Assets

· Computer Software

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.63.33
UK Pound	1	Rs.96.52
Euro	1	Rs.68.93

INFORMATION DETAILS

Information Gathered by :	PPT
Analysis Done by :	RAS
Report Prepared by :	SMN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
-- PROFITABILITY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	2
--RESERVES	1~10	2
--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	YES
--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.