MIRA INFORM REPORT

Report No. :	354566
Report Date :	22.12.2015

IDENTIFICATION DETAILS

Name :	REAMATRIX INDIA PRIVATE LIMITED
Registered Office :	No. 411, Block IV, Sobha Orchid,Jakkur Village, Yelahanka, Bangalore – 560065, Karnataka
Tel. No.:	91-9663384779
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	17.01.2002
Com. Reg. No.:	08-030005
Capital Investment / Paid-up Capital :	Rs. 17.300 Million
CIN No.: [Company Identification No.]	U73100KA2002PTC030005
IEC No.:	0702002101
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AACCP4006E
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is mainly engaged in the business of developing high quality and affordable integrated diagnostics and providing contract research services. [Registered Activity]
No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

B (28)

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

Maximum Credit Limit :	USD 70000
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	ReaMetrix India Private Limited is a subsidiary of “ReaMetrix Inc, USA”. It was established in the year 2002 and it is a bio-technology company. It provides research and assay development services to the biotechnology and pharmaceutical industry. It has moderate track record. Management of the subject has failed to file its latest financials with government department for the year 2015. However, as per 2014 financial, the company has not reported any revenue from its business, the total income comprises of the other income amounting to Rs.1.93 million. It has incurred losses amounting to Rs.19.70 million during the year under a review. Further, as per mentioned in the notes to financial statements, the company is involved in research and development for “ReaMetrix Inc” for developing application for Immedia in the form of reagents and kits for diagnostic of diseases. It is in research phase of project, and it cannot demonstrate than an intangible asset exists from which future economic benefits are probable. Therefore, this expenditure is recognized as expense as and when the same is incurred. Business is active. Payment terms are unknown. In view of aforesaid, the company can be considered for business dealings with some caution.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – March 31, 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 PARTED BY

Name :	Mr. Dayanand
Designation :	Not Divulged
Contact No.:	91-9663384779
Date :	17.12.2015

LOCATIONS

Registered Office :	No. 411, Block IV, Sobha Orchid,Jakkur Village, Yelahanka, Bangalore – 560065, Karnataka, India
Tel. No.:	Not Available
Mobile No.:	91-9663384779 (Mr. Dayanand)
Fax No.:	Not Available
E-Mail :	bala@reametrix.com

DIRECTORS

AS ON 30.06.2015

Name :

Anurag Bagaria

Designation :

Director

Address :

157 A, RMV Extension, 8th Main Road, Bangalore - 560080, Karnataka, India

Date of Birth/Age :

Date of Appointment :

22.04.2010

DIN No.:

00111917

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	U33100MH1986PTC221693	Merck Life Science Private Limited	Director	02/06/2005	02/06/2005	20/11/2009	Active	NO
2	U24131KA1988PTC009420	RUBTECH EXPORTS PRIVATE LIMITED	Director	04/04/2008	04/04/2008	-	Active	NO
3	U24232KA2008PTC046341	KEMWELL BIOPHARMA PRIVATE LIMITED	Managing director	31/08/2010	07/05/2008	-	Active	NO
4	U23104KA1972PTC002151	KEMWELL PRIVATE LIMITED	Managing director	30/08/2010	07/06/2009	-	Active	NO
5	U24111AS1971PTC001703	NORTH EAST GASES PVT LTD	Director	25/09/2010	08/03/2010	-	Active	NO
6	U73100KA2002PTC030032	HEMOGENOMICS PRIVATE LIMITED	Director	23/09/2010	08/03/2010	-	Active	NO
7	U28112WB1984PTC037918	BIOWORTH INDIA PVT LTD	Director	27/09/2010	08/03/2010	-	Active	NO
8	U45209KA2007PTC041533	KEMWELL INFRASTRUCTURE PRIVATE LIMITED	Director	28/09/2010	08/03/2010	-	Active	NO
9	U24306KA2008PTC046908	PRESCIENT BIOSCIENCES PRIVATE LIMITED	Director	28/09/2010	08/03/2010	-	Active	NO
10	U73100KA2002PTC030005	REAMETRIX INDIA PRIVATE LIMITED	Director	18/06/2010	22/04/2010	-	Active	NO
11	L15492WB1916PLC002697	Dhunseri Petrochem Limited	Director	14/08/2014	03/07/2010	-	Active	NO
12	U85110KA2010PTC054763	Max Medisupport Private Limited	Director	18/09/2012	15/02/2012	-	Converted to LLP and dissolved	NO
13	U70100MH2006PTC159095	SHADOW BOX REALTY PRIVATE LIMITED	Director	24/09/2013	03/10/2012	-	Active	NO
14	U65990MH1981PTC024147	NEELAMMEGHA INVESTMENT AND TRADING CO PVT LTD	Director	27/09/2014	29/10/2013	-	Active	NO
15	U70102MH2012PTC228483	Yuv Realtors Private Limited	Director	27/09/2014	29/10/2013	-	Active	NO
16	U74900KA2015PTC078761	JobsForHer Restart Portal Private Limited	Director	06/02/2015	06/02/2015	-	Active	NO
17	AAB-3600	MAX MEDISUPPORT LLP	Designated Partner	14/02/2013	14/02/2013	-	Active	NO

Name :

Bala S Manian

Designation :

Director

Address :

14240 Berry Hill Court, Los Altos Ca, 94022, United States Of America

Date of Birth/Age :

Date of Appointment :

04.03.2004

DIN No.:

01327667

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	U73100KA2002PTC030005	REAMETRIX INDIA PRIVATE LIMITED	Director	04/03/2004	04/03/2004	-	Active	NO
2	L24234KA1978PLC003417	BIOCON LIMITED	Director	25/07/2014	20/10/2004	24/07/2015	Active	NO
3	L85110KA1993PLC014937	SYNGENE INTERNATIONAL LIMITED	Additional director	24/06/2015	24/06/2015	-	Active	NO

MAJOR SHAREHOLDERS

AS ON 30.06.2015

Names of Shareholders	No. of Shares
Reametrix Inc	1728000
Bala S Manian	2000
Total	1730000

Equity Share Break up (Percentage of Total Equity)

AS ON 30.06.2015

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is mainly engaged in the business of developing high quality and affordable integrated diagnostics and providing contract research services. [Registered Activity]
Products :	Not Divulged
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 :

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

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Term loan	0.000	82.354
Total	0.000	82.354

Auditors :
Name :	Guru and Jana Chartered Accountants
Address :	No. 41,Patalamma Temple Road, Basavanagudi, Near South End Circle, Bangalore – 560004, Karnataka, India
PAN N Income-tax PAN of auditor or auditor's firm :	AABFA5265A
Memberships :	Not Available
Collaborators :	Not Available
Holding Company :	ReaMetrix Inc.

CAPITAL STRUCTURE

AS ON 30.06.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs.10/- each	Rs. 20.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1730000	Equity Shares	Rs.10/- each	Rs. 17.300 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	17.300	17.300	17.300
(b) Reserves & Surplus	8.881	28.583	-6.367
(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)	26.181	45.883	10.933
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	82.354	51.168
(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	0.107	0.532	1.488
Total Non-current Liabilities (3)	0.107	82.886	52.656
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	3.237	0.000	0.241
(c) Other current liabilities	88.408	4.891	7.916
(d) Short-term provisions	0.004	0.000	0.104
Total Current Liabilities (4)	91.649	4.891	8.261
TOTAL	117.937	133.660	71.850
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.478	0.057	0.855
(ii) Intangible Assets	0.000	0.000	0.000
(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	1.152	0.080	0.031
(e) Other Non-current assets	50.388	49.246	37.790
Total Non-Current Assets	52.018	49.383	38.676
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	30.834	59.193	1.649
(d) Cash and cash equivalents	27.511	18.034	22.148
(e) Short-term loans and advances	7.574	7.050	9.377
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	65.919	84.277	33.174
TOTAL	117.937	133.660	71.850

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	TOTAL INCOME	1.936	88.022	28.050
Less	EXPENSES
	TOTAL	21.465	42.150	46.325
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	(19.529)	45.872	(18.275)
Less	FINANCIAL EXPENSES	2.833	2.420	1.151
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION	(22.362)	43.452	(19.426)
Less/ Add	DEPRECIATION/ AMORTISATION	0.000	0.000	1.229
	PROFIT/ (LOSS) BEFORE TAX	(22.362)	43.452	(20.655)
Less	TAX	(2.660)	7.697	9.902
	PROFIT/ (LOSS) AFTER TAX	(19.702)	35.755	(30.557)
	Earnings Per Share (Rs.)	(11.39)	20.67	(17.66)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	(18.96)	32.51	(28.75)
Return on Investment (ROI) (PBT/Networth)		(0.85)	0.95	(1.89)
Debt Equity Ratio (Total Debt /Networth)		0.00	1.79	4.68
Current Ratio (Current Asset/Current Liability)		0.72	17.23	4.02

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	17.300	17.300	17.300
Reserves & Surplus	(6.367)	28.583	8.881
Net worth	10.933	45.883	26.181
long-term borrowings	51.168	82.354	0.000
Short term borrowings	0.000	0.000	0.000
Total borrowings	51.168	82.354	0.000
Debt/Equity ratio	4.680	1.795	0.000

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Total Income	28.050	88.022	1.936
		213.804	(97.801)

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Total Income	28.050	88.022	1.936
Profit	(30.557)	35.755	(19.702)
	(108.94%)	40.62%	(1017.67%)

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	No
9	Promoter’s background	Yes
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	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 three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	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

NOTE: Registered office of the company has been shifted from 50-B, II Phase, Near TVS Cross Peenya Industrial Area, Peenya, Bangalore – 560058, Karnataka, India to the present address w.e.f. 26.06.2013.

INDEX OF CHARGES: NO CHARGES EXIST FOR THE 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. 66.42
UK Pound	1	Rs. 99.17
Euro	1	Rs. 72.14

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	HNA
Report Prepared by :	JYO

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	--
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILITY	1~10	--
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	3
--CREDIT LINES	1~10	4
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		28

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.