MIRA INFORM REPORT

Report No. :	327815
Report Date :	23.06.2015

IDENTIFICATION DETAILS

Name :	ENVISION SCIENTIFIC PRIVATE LIMITED
Registered Office :	1, 2 and 3, Silver Palm II, Opposite Snehmilan Garden Kadampalli, Nanpura, Surat-395001, Gujarat
Tel. No.:	91-261-2460003
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	22.12.2008
Com. Reg. No.:	04-055732
Capital Investment / Paid-up Capital :	Rs. 12.299 Million
CIN No.: [Company Identification No.]	U24230GJ2008PTC055732
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	SRTE00317C
PAN No.: [Permanent Account No.]	AACCE0979P
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturing of Cardiovascular Devices for the treatment of Cardiovascular Diseases.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 520000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. For the financial year ended 2014, company has shown sound operational performance and it has achieved adequate profit from its operations. Rating also takes into consideration company’s sound financial risk profile marked by above average net worth base and fair liquidity position of the company. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. The company can be considered for business dealings at usual 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 – 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

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 31-03-2013.

INFORMATION PARTED BY

Name :	Mr. Faiz Nagaria
Designation :	Accounts Manager
Contact No.:	91-9723551224
Date :	17.06.2015

LOCATIONS

Registered Office :	1, 2 and 3, Silver Palm II, Opposite Snehmilan Garden Kadampalli, Nanpura, Surat-395001, Gujarat, India
Tel. No.:	91-261-2460003
Mobile No.:	91-9723551224 (Mr. Faiz)
Fax No.:	91-261-2460006
E-Mail :	faiz@envisionscientific.com
Website :	http://www.envisionscientific.com
Area :	450 Sq. Ft
Location :	Owned
Factory :	C 1 B 108 Ichachapur GIDC Bhator Sachin Hazira Road, Surat – 394510, Gujarat, India

DIRECTORS

AS ON: 30.09.2014

Name :

Mr. Manish Indulal Doshi

Designation :

Managing Director

Address :

704, Megh Malhar Apartment, Bhatar Char Rasta, Althan Road, Surat – 395017, Gujarat, India

Date of Birth/Age :

18.10.1968

Date of Appointment :

20.05.2011

DIN No.:

00013936

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	U33119GJ2001PTC040121	SAHAJANAND MEDICAL TECHNOLOGIES PRIVATE LIMITED	Director	01/04/2002	01/04/2002	08/10/2007	Active	NO
2	U33110GJ2007PTC052416	HEART BEAT INTERVENTION PRIVATE LIMITED	Managing director	20/10/2008	20/12/2007	-	Active	NO
3	U24230GJ2008PTC055730	CONCEPT MEDICAL RESEARCH PRIVATE LIMITED	Director	22/12/2008	22/12/2008	-	Active	NO
4	U33112GJ2009PTC057446	OM HEALTH SOLUTIONS PRIVATE LIMITED	Director	05/02/2010	05/02/2010	-	Active	NO
5	U24230GJ2008PTC055732	ENVISION SCIENTIFIC PRIVATE LIMITED	Managing director	20/05/2011	28/06/2010	-	Active	NO

Name :

Mr. Divyesh Prasannavadan Sherdiwala

Designation :

Director (Technical)

Address :

2/280, Moto Mohallo, Rustampura, Surat – 395002, Gujarat, India

Date of Birth/Age :

25.04.1968

Date of Appointment :

30.09.2010

DIN No.:

01927375

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	U33110GJ2007PTC052416	HEART BEAT INTERVENTION PRIVATE LIMITED	Director	20/12/2007	20/12/2007	-	Active	NO
2	U33112GJ2009PTC057446	OM HEALTH SOLUTIONS PRIVATE LIMITED	Director	05/02/2010	05/02/2010	-	Active	NO
3	U24230GJ2008PTC055732	ENVISION SCIENTIFIC PRIVATE LIMITED	Director	30/09/2010	28/06/2010	-	Active	NO

Name :

Mr. Jayeshbhai Mahendrabhai Chevli

Designation :

Director (Finance and Accounts)

Address :

5B, Sankar Nagar Society, Bhatar, U.M. Road, Surat – 395001, Gujarat, India

Date of Birth/Age :

14.04.1966

Date of Appointment :

30.09.2010

DIN No.:

01928051

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	U33110GJ2007PTC052416	HEART BEAT INTERVENTION PRIVATE LIMITED	Director	20/12/2007	20/12/2007	-	Active	NO
2	U33112GJ2009PTC057446	OM HEALTH SOLUTIONS PRIVATE LIMITED	Director	05/02/2010	05/02/2010	-	Active	NO
3	U24230GJ2008PTC055732	ENVISION SCIENTIFIC PRIVATE LIMITED	Director	30/09/2010	28/06/2010	-	Active	NO

Name :

Mr. Devanshu Prataprai Sheth

Designation :

Director

Address :

8-A, Nutan Bharat Society, Alkapuri, Vadodara – 390007, Gujarat, India

Date of Birth/Age :

23.11.1966

Date of Appointment :

15.12.2014

DIN No.:

00026146

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	U25202GJ2006PTC048181	TANVIKA POLYMERS PRIVATE LIMITED	Director	24/04/2006	24/04/2006	-	Active	NO
2	U33110GJ2007PTC052416	HEART BEAT INTERVENTION PRIVATE LIMITED.	Director	15/11/2010	15/11/2010	-	Active	NO
3	U33112GJ2009PTC057446	OM HEALTH SOLUTIONS PRIVATE LIMITED	Director	15/11/2010	15/11/2010	-	Active	NO
4	U24230GJ2008PTC055732	ENVISION SCIENTIFIC PRIVATE LIMITED	Director	15/12/2014	15/11/2010	-	Active	NO

Name :

Mr. Kalpeshkumar Bishamberdayal Verma

Designation :

Director

Address :

104, Triveni, Swaminarayan Society, B/H Sardar Gunj, Anand-389001, Gujarat, India

Date of Birth/Age :

11.04.1970

Date of Appointment :

15.12.2014

DIN No.:

00042579

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	U51909GJ1994PTC022251	B. C. VERMA ENTERPRISES PRIVATE LIMITED	Director	14/06/1994	14/06/1994	-	Active	NO
2	U65910GJ1994PTC022299	B C VERMA INVESTMENTS PRIVATE LIMITED	Director	21/06/1994	21/06/1994	-	Active	NO
3	U74999GJ1994PTC022356	BHARAT TYRES (GUJARAT) PRIVATE LIMITED	Director	28/03/2007	01/04/1997	-	Active	NO
4	U45201GJ2010PTC060294	TRIVENI INFRASPACE PRIVATE LIMITED	Director	17/04/2010	17/04/2010	-	Active	NO
5	U67120GJ2005PTC046322	MONEYBERRYS INVESTMENT SERVICES PRIVATE LIMITED	Additional director	01/06/2010	01/06/2010	-	Active	NO
6	U24230GJ2008PTC055732	ENVISION SCIENTIFIC PRIVATE LIMITED	Director	15/12/2014	23/05/2011	-	Active	NO

Name :

Mr. Bhavdip Indulal Doshi

Designation :

Director

Address :

C/43 Yash Tower 100 Ft. Ring Road Satelite, Ahmedabad – 380001, Gujarat, India

Date of Birth/Age :

09.08.1973

Date of Appointment :

15.11.2010

DIN No.:

01365599

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	U29199GJ1997PTC032545	SHIV LASER TECH PRIVATE LIMITED	Director	15/08/1997	15/08/1997	10/09/2009	Strike off	NO
2	U29219GJ1993PLC019848	FIREFLY ENERGY LIMITED	Whole-time director	27/03/2004	27/03/2004	17/04/2009	Active	NO
3	U72900MH2000PLC123764	Web businesses.com Global Limited	Director	21/03/2006	21/03/2006	11/04/2009	Active	NO
4	U28930GJ2006PLC047896	ALPHA NIPPON INNOVATIVES LIMITED	Director	02/11/2006	02/11/2006	11/04/2009	Active	NO
5	U29299GJ2007PTC051004	ALPHA VASCULAR TECHNOLOGIES PRIVATE LIMITED	Director	01/06/2007	01/06/2007	-	Active	NO
6	U51507GJ2010PTC061809	LOTUS CARDIAC CARE PRIVATE LIMITED	Director	30/07/2010	30/07/2010	05/06/2014	Active	NO
7	U33110GJ2007PTC052416	HEART BEAT INTERVENTION PRIVATE LIMITED.	Director	15/11/2010	15/11/2010	-	Active	NO
8	U33112GJ2009PTC057446	OM HEALTH SOLUTIONS PRIVATE LIMITED	Director	15/11/2010	15/11/2010	-	Active	NO
9	U24230GJ2008PTC055732	ENVISION SCIENTIFIC PRIVATE LIMITED	Director	15/11/2010	15/11/2010	-	Active	NO

Name :

Mr. Nipul H Patel

Designation :

Director

Address :

2532, Dune Forest, Portage-463368, United States of America

Date of Birth/Age :

21.08.1969

Date of Appointment :

15.12.2014

DIN No.:

03543691

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	U24230GJ2008PTC055732	ENVISION SCIENTIFIC PRIVATE LIMITED	Director	15/12/2014	23/05/2011	-	Active	NO
2	U24230GJ2008PTC055730	CONCEPT MEDICAL RESEARCH PRIVATE LIMITED	Additional director	16/12/2014	16/12/2014	-	Active	NO

Name :

Mr. Jnyan Shashank Patel

Designation :

Director

Address :

Vikas Villa, 502 CTS 567, Janki Kutir, Juhu Church Road, Juhu, Near Pruthvi Theater,Vile Parle (West), Mumbai – 400054, Maharashtra, India

Date of Appointment :

18.07.2013

DIN No.:

05188767

KEY EXECUTIVES

Name :	Mr. Faiz Nagaria
Designation :	Accounts Manager
Name :	Mr. Dhiren R Dave
Designation :	Company Secretary
Address :	D – 412, International Trade Center, Majura Gate, Ring Road, Surat – 395002, Gujarat, India
Tel No.:	91-79-2475122 / 2460903
Mobile No.:	91-9824115061
Tel No.:	www.drdcs.net

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON: 30.09.2014

Names of Shareholders	No. of Shares
Chevli Jayshree Jayeshkumar	97240
Chevli Zemin Jayeshkumar	47845
Doshi Aparna Manishkumar	266999
Sherdiwala Jagruti Divyesh	105630
Patel Akshay R	26786
Sheth Devanshu P	26647
Sherdiwala Divyesh P	40620
Chevli Jayesh M	1165
Verma Kalpesh Kumar	96430
Doshi Manish Indulal	115500
Desai Namrata	26787
Cunha Melchiades	37500
Moreira Alex	37500
Patel Nipul H	26786
Patel Rupal	26786
Sheth Kavita	26786
Kaushik I.s.	10712
Bajaria Nachiket Babubhai	21732
Bajaria Bankim Babubhai	5360
Shanghavi Apurva Mangaldas	965
Sanghavi Sonal Apurva	965
Shanghavi Abhijit Mangaldas	855
Shanghavi Ketan Mangaldas	855
Shanghavi Dipti	855
Shanghavi Leena Ketan	855
Patel Rajiv	2755
Patel Angela M.g.	2755
Shah Viresh Manubhai	2755
Shah Viresh Manubhai	1378
Shah Devikaben Vireshbhai	1377
Mervane Sanjeev L.	1377
Mervane Mrudata S.	1377
Bajaria Vibha Bankim	5509
Verma Mahendrakumar B.	26786
Lakshmi Venture Usa Lic	63520
Maxfield Manage Ment Limited	64695
Bakhai Vyomesh Mohanlal	2000
Jiwan Hitesh Madhusudan	750
Shah Mohit Ratilal	2000
Majeethia Devendra Ramniklal	750
Total	1229945

Equity Share Break up (Percentage of Total Equity)

AS ON: 30.09.2014

Category	Percentage
Venture capital	5.00
Bodies corporate	5.00
Directors or relatives of Directors	74.00
Other top fifty shareholders	16.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturing of Cardiovascular Devices for the treatment of Cardiovascular Diseases.
Products :	Cardiovascular Devices
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Minva FXF – France Aesthesys (France)
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 :	Lotus Cardiac Care Private Limited, Ahmedabad, Gujarat, India
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 :

Not Divulged

Bankers :

Banker Name	Axis Bank Limited
Branch Address	Digvijay Towers, Opposite St. Xavier’s School, Ghod Dod Road, Surat – 395007. Gujarat, 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

• Standard Chartered Bank, 2^nd Floor, C K Tower, Surat Dumas Road, Parle Point, Surat – 395007, Gujarat, India

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Term loan
From Banks	2.970	5.190
Other Loans
From Banks	0.000	0.276
SHORT TERM BORROWING
From Banks	17.876	17.883
Total	20.846	23.349

Auditors :
Name :	Sudit K. Parekh and Company Chartered Accountants
Address :	Ballard House, 2^nd Floor, Adi Marzban path, Ballard Pier, Fort, Mumbai-400001, Maharashtra, India
Tel. No.:	91-22-66178000
Fax No.:	91-22-66178002
E-Mail :	admin@skparekh.com
PAN No.:	AAAFS4500P
Memberships :	Not Available
Collaborators :	Not Available
Sister Concern : (As on: 31.03.2013)	Heart Beat Interventions Private Limited OM Health Solutions Private Limited Concept Medical research Private Limited Triveni Infraspace Private Limited P.M. Sherdiwala HUF Shiv Krupa Dye Chem Shiv Shankar Dye Chem Shiv Shakti Chemicals Shiv Shakti Enterprises

CAPITAL STRUCTURE

AS ON: 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
1300000	Equity Shares	Rs.10/- each	Rs. 13.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1229945	Equity Shares	Rs.10/- each	Rs. 12.299 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	12.299	11.018	10.714
(b) Reserves & Surplus	170.113	46.695	40.043
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	8.968
Total Shareholders’ Funds (1) + (2)	182.412	57.713	59.725
(3) Non-Current Liabilities
(a) long-term borrowings	2.970	5.466	16.189
(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	2.121	1.880	0.914
Total Non-current Liabilities (3)	5.091	7.346	17.103
(4) Current Liabilities
(a) Short term borrowings	20.076	33.800	12.265
(b) Trade payables	17.873	34.084	22.630
(c) Other current liabilities	14.548	21.842	9.983
(d) Short-term provisions	0.892	0.078	0.003
Total Current Liabilities (4)	53.389	89.804	44.881
TOTAL	240.892	154.863	121.709
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	50.641	49.886	48.793
(ii) Intangible Assets	10.065	9.270	0.722
(iii) Capital work-in-progress	0.000	0.039	0.000
(iv) Intangible assets under development	102.222	68.843	49.474
(b) Non-current Investments	0.010	0.010	0.010
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	1.677	0.758	1.150
(e) Other Non-current assets	0.005	0.004	0.003
Total Non-Current Assets	164.620	128.810	100.152
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	13.746	8.289	10.747
(c) Trade receivables	58.908	11.025	8.762
(d) Cash and cash equivalents	1.240	0.058	0.508
(e) Short-term loans and advances	2.008	6.681	1.540
(f) Other current assets	0.370	0.000	0.000
Total Current Assets	76.272	26.053	21.557
TOTAL	240.892	154.863	121.709

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Revenue from Operations	120.338	42.601	15.438
	Other Income	0.071	0.404	0.024
	TOTAL	120.409	43.005	15.462
Less:	EXPENSES	111.733	61.147	16.897
	PROFIT/ (LOSS) BEFORE TAX	8.676	(18.142)	(1.435)
Less:	TAX	0.000	0.000	0.000
	PROFIT/ (LOSS) AFTER TAX	8.676	(18.142)	(1.435)
	EARNINGS IN FOREIGN CURRENCY
	Sale of Services	NA	0.000	7.094
	TOTAL EARNINGS	NA	0.000	7.094
	IMPORTS
	Stents Purchase		13.278	1.390
	Catheters		1.557	0.000
	Capital goods		0.000	3.343
	Drugs		0.036	0.000
	Consumables		0.168	0.003
	TOTAL IMPORTS	NA	15.039	4.736
	Earnings / (Loss) Per Share (Rs.)	7.05	(16.62)	(1.67)

Particulars	31.03.2015
Sales Turnover	112.400

The above information has been parted by Mr. Faiz (Accounts Manager)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	2.496	2.694	2.723
Cash generated from operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	7.21	(42.59)	(9.30)
Operating Profit Margin (PBIDT/Sales)	(%)	7.21	(42.59)	(9.30)
Return on Total Assets (PBT/Total Assets}	(%)	6.26	(21.10)	(1.99)
Return on Investment (ROI) (PBT/Networth)		0.05	(0.31)	(0.02)
Debt Equity Ratio (Total Debt /Networth)		0.14	0.73	0.52
Current Ratio (Current Asset/Current Liability)		1.43	0.29	0.48

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	10.714	11.018	12.299
Reserves & Surplus	40.043	46.695	170.113
Share Application money pending allotment	8.968	0.000	0.000
Net worth	59.725	57.713	182.412
long-term borrowings	16.189	5.466	2.970
Short term borrowings	12.265	33.800	20.076
Current maturities of long-term debts	2.723	2.694	2.496
Total borrowings	31.177	41.960	25.542
Debt/Equity ratio	0.522	0.727	0.140

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)
Revenue from Operations	15.438	42.601	120.338
		175.949	182.477

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Revenue from Operations	15.438	42.601	120.338
Profit	(1.435)	(18.142)	8.676
	(9.30%)	(42.59%)	7.21%

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	Yes
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	Yes
19	Major customers	Yes
20	Banking Details	Yes
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	Yes
35	Negative Reporting by Auditors in the Annual Report	No

NOTE: Registered office of the company has been shifted from 8, Narayan Darshan Apartment, Opposite Rupam Cinema, Salabatpura, Surat-395003, Gujarat, India to the present address w. e. f. 22.11.2013

UNSECURED LOAN:

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
SHORT TERM BORROWINGS:
Loans Repayable on Demand
From Related parties	2.200	15.917
Total	2.200	15.917

INDEX OF CHARGES:

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10560799	27/03/2015	51,100,000.00	AXIS BANK LTD	DIGVIJAY TOWERS , OPPOSITE ST. XAVIER'S SCHOOL, GHOD DOD ROAD, SURAT, GUJARAT - 395007, INDIA	C49765225
2	10477800	31/12/2013	9,200,000.00	Standard Chartered Bank	2ND FLOOR, C K TOWER, SURAT DUMAS ROAD, PARLE POINT, SURAT, GUJARAT - 395007, INDIA	B96452131
3	10305179	13/10/2014 *	51,100,000.00	AXIS BANK LTD	DIGVIJAY TOWERS , OPPOSITE ST. XAVIER'S SCHOOL, GHOD  DOD ROAD, SURAT, GUJARAT - 395007, INDIA	C29598091

FIXED ASSETS:

Tangible Assets

• Building
• Plant and Equipments
• Furniture and Fixtures
• Vehicle
• Office Equipment
• Computers

Intangible Assets:

• Trade Marks
• Patents
• Product development
• Website development cost

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. 63.51
UK Pound	1	Rs. 100.94
Euro	1	Rs. 72.32

INFORMATION DETAILS

Information Gathered by :	KMN
Analysis Done by :	KRN
Report Prepared by :	THR

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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		45

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.