MIRA INFORM REPORT

Report No. :	353100
Report Date :	04.12.2015

IDENTIFICATION DETAILS

Name :	SYNERGY MEDICAL SYSTEMS LLP
Registered Office :	C-503, Silver Sand, Near Building 11, Piramal Nagar, S.V. Road, Goregaon West, Mumbai – 400062, Maharashtra
Tel. No.:	91-22-28311916
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	15.11.2011
Total Obligation of Contribution:	Rs.0.100 Million
LLPIN :	AAA-6884
IEC No.:	0311075762
TIN No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	ACAFS3722K
Legal Form :	Limited Liability Partnership
Line of Business :	Subject is engaged in Import, Export, Marketing, Sales, Manufacturing and Service of Medical Equipments, Surgical Equipments, Diagnostic Equipments and Reagents and Consultancy Services. (Registered Activity)
No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

Ca (11)

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 :	Synergy Medical LLP was established in the year 2011 and it is having a moderate track record. Management has not filed its financial with the government department for the year 2014 and 2015. And same has not been made available from any source. The rating is constrained on subject's moderate financial profile marked by accumulated loss which has fully errored the capital structure. The rating is further constrained on limited track record and loss incurred from its operational activities. However, business is active. Payment terms are unknown. In view of aforesaid, the subject can be considered for business dealings on fully safe and secure 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.

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 DECLINED BY

Name :	Mr. Tejas Vinaykant Mehta
Designation :	Designated Partner
Contact No.:	91-22-28311916
Date :	04.12.2015

LOCATIONS

Registered Office :	C-503, Silver Sand, Near Building 11, Piramal Nagar, S.V. Road, Goregaon West, Mumbai – 400062, Maharashtra, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	synergymedsys@gmail.com
Corporate Office:	3, Dhawalgiri, A-Wing, Plot No 19/20, Mumbai – 400093, Maharashtra, India

PARTNERS

AS ON 31.03.2015

Name :	Mr. Darshan Vasantbhai Parmar
Designation :	Designated Partner
Address :	C-503, Silver Sand, Near Building 11, Piramal Nagar, S.V.Road, Goregaon (West), Mumbai - 400062, Maharashtra, India
Date of Birth/Age :	12.05.1961
Date of Appointment :	15.11.2011
DPIN No.:	02719932
Name :	Mr. Vishal Dinanath Jaokar
Designation :	Designated Partner
Address :	401, B2-Wing, 10 Durga Sadan CHS, Tilak Nagar, Chembur, Mumbai - 400089, Maharashtra, India
Date of Birth/Age :	23.01.1971
Date of Appointment :	15.11.2011
DPIN No.:	02729723
Name :	Mr. Tejas Vinaykant Mehta
Designation :	Designated Partner
Address :	B-5, Hawa Hira Mahal, Daftary Road, Malad (East), Mumbai - 400097, Maharashtra, India
Date of Birth/Age :	15.10.1977
Date of Appointment :	15.11.2011
DPIN No.:	03641488

CONTRIBUTION DETAILS

Names of Partners	Rs. In Million
Darshan Vasantbhai Parmar	0.033
Vishal Dinanath Jaokar	0.033
Tejas Vinaykant Mehta	0.034
Total	0.100

BUSINESS DETAILS

Line of Business :	Subject is engaged in Import, Export, Marketing, Sales, Manufacturing and Service of Medical Equipments, Surgical Equipments, Diagnostic Equipments and Reagents and Consultancy Services. (Registered Activity)
Products / Services:	Medical Equipments Surgical Equipments Diagnostic Equipments Reagents Consultancy Services
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

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 :

Banker Name	Not Divulged
Branch Address	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

Auditors :	Not Divulged
Memberships :	Not Available
Collaborators :	Not Available
Sister Concern :	--

CAPITAL STRUCTURE

Total Obligation of Contribution

Rs. 0.100 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2013
SHAREHOLDERS FUNDS
1] Share Capital		0.100
2] Share Application Money		(0.613)
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		0.000
NETWORTH		(0.513)
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		1.548
TOTAL BORROWING		1.548
DEFERRED TAX LIABILITIES		0.000
TOTAL		1.035
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.039
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.693
	Sundry Debtors	0.539
	Cash & Bank Balances	0.058
	Other Current Assets	0.125
	Loans & Advances	0.000
Total Current Assets		1.415
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.419
	Other Current Liabilities	0.000
	Provisions	0.000
Total Current Liabilities		0.419
Net Current Assets		0.996
MISCELLANEOUS EXPENSES		0.000
TOTAL		1.035

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2013
	SALES
	Income	0.847
	Other Income	0.000
	TOTAL (A)	0.847
Less	EXPENSES
	Purchases made for re-sale	1.574
	Power and fuel	0.004
	Increase/(decrease) in stocks [including for raw materials, work in progress and finished goods]	(0.693)
	Personnel Expenses	0.080
	Administrative expenses	0.482
	Payment to auditors	0.006
	TOTAL (B)	1.453
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	(0.606)
Less	FINANCIAL EXPENSES (D)	0.000
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	(0.606)
Less/ Add	DEPRECIATION/ AMORTISATION (F)	0.007
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	(0.613)
Less	TAX (H)	0.000
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	(0.613)

Note : Sole Proprietary and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry.

KEY RATIOS

PARTICULARS		31.03.2013
Net Profit Margin (PAT / Sales)	(%)	(72.37)
Operating Profit Margin (PBIDT/Sales)	(%)	(71.55)
Return on Total Assets (PBT/Total Assets}	(%)	42.16
Return on Investment (ROI) (PBT/Networth)		(1.19)
Debt Equity Ratio (Total Debt /Networth)		(3.08)
Current Ratio (Current Asset/Current Liability)		3.38

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	No
10	Date of Birth of Proprietor / Partners / Directors	No
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	No
18	Major suppliers	No
19	Major customers	No
20	Banking Details	No
21	Banking facility details	No
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	No
26	Turnover of firm for last one year	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last one year	Yes
30	Major shareholders, if available	No
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

INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

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.66.75
UK Pound	1	Rs.99.61
Euro	1	Rs.70.67

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	KAS
Report Prepared by :	KVT

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
--PROFITABILITY	1~10	--
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	1
--RESERVES	1~10	--
--CREDIT LINES	1~10	1
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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		11

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.