MIRA INFORM REPORT

Report No. :	351316
Report Date :	30.11.2015

IDENTIFICATION DETAILS

Name :	MEDICA TS HOSPITAL PRIVATE LIMITED
Registered Office :	S-125, Maitri Vihar, p.o. Rail Vihar, P.S. Chandrasekharpur, Bhubaneswar – 751023, Orissa
Mobile No.:	91-9433209437 (Mr. Rajat Majumdar)
Country :	India
Financials (as on) :	31.03.2015
Date of Incorporation :	05.08.2014
Com. Reg. No.:	15-018162
Capital Investment / Paid-up Capital :	Rs. 10.000 Million
CIN No.: [Company Identification No.]	U85110OR2014PTC018162
IEC No.:	Not Divulged
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAJCM3579N
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is primarily engaged in the business of rendering medical and healthcare services. (Registered Activity)
No. of Employees :	Information declined by the Management.

RATING & COMMENTS

MIRA’s Rating :

NB

RATING		STATUS	PROPOSED CREDIT LINE
-	NB	New Business	-

Maximum Credit Limit:	25000
Status :	New Business
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is a newly started hospital incorporated in the year August 2014. It is a subsidiary of Medica Hospitals PRIVATE Limited (74%). Further Tata Steel Limited holds 26% stake in the subject company. As per the available financials of the year 2015, the hospital has not started any business activity. Further, Mr. Rajat Mujumdar (Deputy Vice President) confirmed that activity of the subject has been started from August 2015. Further it has incurred some pre-operating losses. It has total share capital of Rs.10 million. Further it has taken huge long term borrowings in the year under consideration. In view of new incorporation, the subject can be considered for business dealings with some caution. However, in view of strong holding companies, future prospects may consider satisfactory of the hospital.

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, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
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

Rating Agency Name	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	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 31-03-2015.

INFORMATION DENIED BY

Name :	Mr. Rajat Majumdar
Designation :	Deputy Vice President
Contact No.:	91-9433209437
Date :	26.11.2015

LOCATIONS

Registered Office :	S-125, Maitri Vihar, P.O. Rail Vihar, P.S. Chandrasekharpur, Bhubaneswar – 751023, Orissa, India
Tel. No.:	Not Available
Mobile No.:	91-9433209437 (Mr. Rajat Majumdar)
Fax No.:	Not Available
Email:	pratosh.gupta@tatasteel.com contactus.tsmedica@medicasynergie.in

DIRECTORS

As on 31.03.2015

Name :

Mr. Rana Udayan Lahiry

Designation :

Director

Address :

B-1, Duplex Sugam Park, 195 N.S.Road, Narendrapur, Kolkata - 700103, West Bengal, India

Date of Birth:

07.05.1974

Date of Appointment :

28.09.2015

DIN No.:

01491754

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	U74140WB2003PTC121076	MEDICA SYNERGIE PRIVATE LIMITED	Director	10/09/2007	31/03/2007	26/03/2009	Active	NO
2	U85110WB1993PTC060388	NORTH BENGAL CLINIC PRIVATE LIMITED	Director	24/09/2008	01/11/2007	-	Active	NO
3	U45200WB2007PTC112554	MEDICA HOSPITALS PRIVATE LIMITED	Director	27/07/2012	15/02/2012	27/07/2012	Active	NO
4	U85110OR2014PTC018162	MEDICA TS HOSPITAL PRIVATE LIMITED	Director	28/09/2015	28/08/2014	-	Active	NO

Name :

Mr. Arun Misra

Designation :

Director

Address :

H. No. 27, Jubilee Officers Flat, Ch Area, Bistupur, Jamshedpur - 831001, Jharkhand, India

Date of Appointment :

05.08.2014

DIN No.:

01835605

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	L27102OR1982PLC001091	TATA SPONGE IRON LIMITED	Director	14/07/2008	16/10/2007	26/11/2012	Active	NO
2	U45200JH2003PLC010315	JAMSHEDPUR UTILITIES AND SERVICES COMPANY LIMITED	Director	25/07/2013	25/04/2013	24/03/2014	Active	NO
3	U45205OR1998PLC005448	THE DHAMRA PORT COMPANY LIMITED	Director	04/07/2013	29/04/2013	23/06/2014	Active	NO
4	U75132OR2004NPL007530	JAJPUR CLUSTER DEVELOPMENT	Nominee director	28/09/2013	28/09/2013	-	Active	NO
5	U85110OR2014PTC018162	Medica TS Hospital Private Limited	Director	05/08/2014	05/08/2014	-	Active	NO
6	U45201OR2006PLC008971	TATA STEEL SPECIAL ECONOMIC ZONE LIMITED	Managing director	27/03/2015	29/09/2014	-	Active	NO

Name :

Mr. Pratosh Gupta

Designation :

Director

Address :

Flat 24, Steel House, 92 G Road, Marine Drive, Mumbai - 400002, Maharashtra, India

Date of Appointment :

05.08.2014

DIN No.:

06826971

Name :

Dr. Laxmi Narayan Tripathy

Designation :

Director

Address :

1050/1, Survey Park, Astami Udita, Po-Santoshpur, Kolkata - 700075, West Bengal, India

Date of Birth:

05.07.1959

Date of Appointment :

28.08.2014

DIN No.:

06945213

Name :

Dr. Nagendra Das Kumar

Designation :

Director

Address :

2f,151/152, Sharada Enclave, Dhalbhum Road, Ambagan,, Sakchi, Jamshedpur - 831001, Jharkhand, India

Date of Birth:

25.05.1950

Date of Appointment :

28.08.2014

DIN No.:

06945221

KEY EXECUTIVES

Name :	Mr. Rajat Majumdar
Designation :	Deputy Vice President

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.03.2015

Names of Shareholders	No. of Shares	%age holding
Tata Steel Limited, India	26000	26.00
Medica Hospital Private Limited, India	74000	74.00
Total	100000	100.00

BUSINESS DETAILS

Line of Business :	Subject is primarily engaged in the business of rendering medical and healthcare services. (Registered Activity)
Products/Services :	Medical and Healthcare Services
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	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
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

Customers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

No. of Employees :

Information declined by the Management.

Bankers :

Bank Name	Not Divulged
Branch	Not Divulged
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 :

(Rs. In Million)

SECURED LOAN	As on 31.03.2015
LONG TERM BORROWING
Debenture 50000 Million Secured Optionally Convertible Redeemable Debentures (OCD) for a value of Rs 1,000 were allotted to Tata Steel Limited (TSL). The OCD shall be redeemed in a phased manner over a period of 20 years. The Debenture holder shall also have the right to convert the Debentures into Equity Shares in any of the following instances: (i) at par value, in the event of any dilution in the equity shareholding of TSL in the Company in order to achieve and revert to 26% equity in the Company provided that such dilution may only occur if specifically consented to by TSL. (ii) at 70% of the fair market value, upon the occurrence of an event of default by the holding company and after the expiry of cure period as specified in the Joint Venture agreement.	50.000
Total	50.000

Auditors :
Name :	BSR and Company LLP Chartered Accountants
Address :	Godrej Waterside, Unit No.603-604, 6^th Floor, Tower 1, Plot No.5, Kolkata – 700091, West Bengal, India
Tel No.:	91-33-44034000
Fax No.:	91-33-44034199
Memberships :	--
Collaborators :	--
Holding Company :	Medica Hospitals Private Limited CIN No.:U45200WB2007PTC112554
Ultimate Holding Company:	Quadria Capital Fund L.P.
Enterprises having significant influence over the company:	Tata Steel Limited CIN No.:L27100MH1907PLC000260

CAPITAL STRUCTURE

As on 31.03.2015

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs. 10.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs. 10.000 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2015
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	10.000
(b) Reserves & Surplus	(1.082)
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	0.000
Total Shareholders’ Funds (1) + (2)	8.918
(3) Non-Current Liabilities
(a) long-term borrowings	50.000
(b) Deferred tax liabilities (Net)	0.000
(c) Other long term liabilities	0.000
(d) long-term provisions	0.000
Total Non-current Liabilities (3)	50.000
(4) Current Liabilities
(a) Short term borrowings	0.000
(b) Trade payables	1.424
(c) Other current liabilities	10.154
(d) Short-term provisions	0.171
Total Current Liabilities (4)	11.749
TOTAL	70.667
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	25.668
(ii) Intangible Assets	0.057
(iii) Capital work-in-progress	5.062
(iv) Intangible assets under development	0.000
(b) Non-current Investments	0.000
(c) Deferred tax assets (net)	0.000
(d) Long-term Loan and Advances	6.191
(e) Other Non-current assets	0.000
Total Non-Current Assets	36.978
(2) Current assets
(a) Current investments	0.000
(b) Inventories	0.000
(c) Trade receivables	0.000
(d) Cash and cash equivalents	33.365
(e) Short-term loans and advances	0.059
(f) Other current assets	0.265
Total Current Assets	33.689
TOTAL	70.667

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2015
	SALES
	Income	0.000
	Other Income	0.817
	TOTAL	0.817
Less	EXPENSES
	Other expenses	1.411
	TOTAL	1.411
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	(0.594)
Less	FINANCIAL EXPENSES	0.008
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	(0.602)
Less/ Add	DEPRECIATION/ AMORTISATION	0.227
	PROFIT/ (LOSS) BEFORE TAX	(0.829)
Less	TAX	0.252
	PROFIT/ (LOSS) AFTER TAX	(1.081)
	Earnings / (Loss) Per Share (Rs.)	(1.65)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2015
Current Maturities of Long term debt	NA
Cash generated from operations	(0.044)
Net cash flow from operating activity	(0.126)

KEY RATIOS

PARTICULARS		31.03.2015
Net Profit Margin (PAT / Sales)	(%)	0.000
Operating Profit Margin (PBIDT/Sales)	(%)	0.000
Return on Total Assets (PBT/Total Assets}	(%)	(1.26)
Return on Investment (ROI) (PBT/Networth)		(0.09)
Debt Equity Ratio (Total Debt /Networth)		5.61
Current Ratio (Current Asset/Current Liability)		2.87

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	No
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	No
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	No
21	Banking facility details	Yes
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last last about eight months	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last last about eight months	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

COMPANY OVERVIEW:

The company domiciled and headquartered in India having Corporate Identity Number (CIN) U851100R2014PTC018162 and is incorporated under the Companies Act, 2013. It is a joint venture company between Tata Steel Ltd and Medica Hospitals Private Limited. The Company is primarily engaged in business of rendering medical and healthcare services.

INDEX OF CHARGES:

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10598784	02/02/2015	50,000,000.00	TATA STEEL LIMITED	BOMBAY HOUSE,, 24-HOMI MODY STREET, FORT,, MUMBAI - 400001 , MAHARASHTRA, INDIA

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 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.66.75
UK Pound	1	Rs.100.67
Euro	1	Rs.70.87

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	KIN
Report Prepared by :	RKI

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.