MIRA INFORM REPORT

Report No. :	329920
Report Date :	30.06.2015

IDENTIFICATION DETAILS

Name :	R. G. I. MEDITECH PRIVATE LIMITED

Registered Office :	29, Gulmohar Vatika, Sheetla Road, Bye Pass, Agra – 282005, Uttar Pradesh
Tel. No.:	91-120-6515620-27

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	04.07.2006

Com. Reg. No.:	20-032097

Capital Investment / Paid-up Capital :	Rs.8.900 Million

CIN No.: [Company Identification No.]	U24232UP2006PTC032097

IEC No.:	0612000516

TAN No.: [Tax Deduction & Collection Account No.]	Not Available

PAN No.: [Permanent Account No.]	AADCR3391M

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturer of Adult diapers, under pads, etc.

No. of Employees :	120 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ca (12)

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 :	Slow

Litigation :	Clear

Comments :	Subject is an established company incorporated during 2006 having a moderate track record. Even though the company was incorporated during 2006 the company commenced its commercial operation after financial year 2013. For the financial year ended 2014, the company has achieved sizable turnover from its operational activities. However, incurred heavy losses which has further resulted into erosion of its entire networth. The rating also takes into consideration company limited track record of business operation and huge borrowings recorded by the company. Mr. Ankit, Account Executive provide all information and also provided turnover figure for the year 2015 as Rs.220.000 Million and expected 2016 as 350.000 Million which is not verified. Business is active. Payments terms are reported to be slow. In view of recently commencement of business operation, the company can be considered for business dealings on a secured 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

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. Ankit
Designation :	Account Executive
Contact No.:	91-120-6515626
Date :	30.06.2015

LOCATIONS

Registered Office :	29, Gulmohar Vatika, Sheetla Road, Bye Pass, Agra – 282005, Uttar Pradesh, India
Tel. No.:	91-120-6515620-27
Mobile No.:	91-9759152158 (Mr. Dinesh)
Fax No.:	Not Available
E-Mail :	info@rgimeditech.com sahil@rgimeditech.com
Location :	Owned
Locality :	Commercial

Factory :	Plot No.J-31, Sector 63, Noida – 201 301, Uttar Pradesh, India
Tel. No.:	91-120-6515626

Corporate Office :	4/1, East Patel Nagar, New Delhi – 100 088, India
Tel. No.:	91-11-257896334 / 25762810

DIRECTORS

As on 30.09.2014

Name :

Mr. Lalit Narain Khanna

Designation :

Director

Address :

22, Bagh Farzana, Civil Lines, Agra – 282 002, Uttar Pradesh, India

Date of Birth/Age :

01.07.1954

Date of Appointment :

04.07.2006

DIN No.:

00107978

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	U24236UP1977PTC004511	ROMSONS SCIENTIFIC AND SURGICAL INDUSTRIES PRIVATE LIMITED	Director	01/05/1990	01/05/1990	-	Active	NO
2	U24232UP2006PTC032097	R.G.I. MEDITECH PRIVATE LIMITED	Director	04/07/2006	04/07/2006	-	Active	NO
3	U85120DL2006PTC153538	ROSELAND HOSPITALS PRIAVTE LIMITED	Director	12/09/2006	12/09/2006	-	Active	NO
4	U72300UP2010PTC040689	RLK BPO SERVICES PRIVATE LIMITED	Director	19/05/2010	19/05/2010	-	Active	NO
5	U33111UP2013PTC059662	ROSSMAX MANUFACTURING COMPANY PRIVATE LIMITED	Director	20/09/2013	20/09/2013	-	Active	NO

Name :

Mr. Kishore Narain Khanna

Designation :

Director

Address :

B-7, Lawyers Colony, Agra – 282 005, Uttar Pradesh, India

Date of Birth/Age :

02.07.1952

Date of Appointment :

04.07.2006

DIN No.:

00108143

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	U24236UP1977PTC004511	ROMSONS SCIENTIFIC AND SURGICAL INDUSTRIES PRIVATE LIMITED	Managing director	12/10/1989	12/10/1989	-	Active	NO
2	U24232UP2006PTC032097	R.G.I. MEDITECH PRIVATE LIMITED	Director	04/07/2006	04/07/2006	-	Active	NO
3	U85120DL2006PTC153538	ROSELAND HOSPITALS PRIAVTE LIMITED	Director	12/09/2006	12/09/2006	-	Active	NO
4	U72300UP2010PTC040689	RLK BPO SERVICES PRIVATE LIMITED	Director	19/05/2010	19/05/2010	-	Active	NO
5	U33111UP2013PTC059662	ROSSMAX MANUFACTURING COMPANY PRIVATE LIMITED	Director	20/09/2013	20/09/2013	-	Active	NO

Name :

Mr. Rakesh Narain Khanna

Designation :

Director

Address :

H-455, Basement GF, New Rajendra Nagar, New Delhi – 110 060, India

Date of Birth/Age :

13.09.1958

Date of Appointment :

04.07.2006

DIN No.:

00108227

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	U24236UP1977PTC004511	ROMSONS SCIENTIFIC AND SURGICAL INDUSTRIES PRIVATE LIMITED	Director	01/05/1990	01/05/1990	-	Active	NO
2	U24232UP2006PTC032097	R.G.I. MEDITECH PRIVATE LIMITED	Director	04/07/2006	04/07/2006	-	Active	NO
3	U85120DL2006PTC153538	ROSELAND HOSPITALS PRIAVTE LIMITED	Director	12/09/2006	12/09/2006	-	Active	NO
4	U72300UP2010PTC040689	RLK BPO SERVICES PRIVATE LIMITED	Director	19/05/2010	19/05/2010	-	Active	NO
5	U33111UP2013PTC059662	ROSSMAX MANUFACTURING COMPANY PRIVATE LIMITED	Director	20/09/2013	20/09/2013	-	Active	NO

Name :

Mr. Sahil Kishore Khanna

Designation :

Director

Address :

B-7, Lawyers Colony, Agra – 282 005, Uttar Pradesh, India

Date of Birth/Age :

25.08.1988

Date of Appointment :

30.09.2013

DIN No.:

06507905

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	U24236UP1977PTC004511	ROMSONS SCIENTIFIC AND SURGICAL INDUSTRIES PRIVATE LIMITED	Director	30/09/2013	01/04/2013	-	Active	NO
2	U24232UP2006PTC032097	R.G.I. MEDITECH PRIVATE LIMITED	Director	30/09/2013	03/09/2013	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Ankit
Designation :	Account Executive

MAJOR SHAREHOLDERS

As on 30.09.2014

Names of Shareholders		No. of Shares
Kishore Narain Khanna		17400
Manju Khanna		2500
Saourbh Khanna		2500
Lalit Narain Khanna		16400
Reeta Khanna		2000
Rohit Khanna		2000
Mohit khanna		2000
Rakesh Narain Khanna		19400
Simi Khanna		3000
Sahil Khanna		20000
Arvinda Khanna		300
Vijay Kumar Khanna		500
Vikas Khanna		500
Neeraj Khanna		500
Total		89000

As on 30.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Adult diapers, under pads, etc.

Products :	Adult Diapers Under Pads

Brand Names :	Not Available

Agencies Held :	Not Available

Exports :
Products :	Adult Diapers Under Pads
Countries :	South Africa UAE Nepal Sudan

Imports :
Products :	Raw Material
Countries :	China Malaysia Canada Singapore

Terms :
Selling :	Credit

Purchasing :	Credit

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 :

120 (Approximately)

Bankers :

Banker Name	Canara Bank
Branch Address	Overseas Branch, Sanjay Place, Agra – 282002, Uttar Pradesh, 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

HDFC Bank Limited, Delhi Branch, Delhi, India

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Term Loans from Banks	27.499	0.000
SHORT TERM BORROWING
Cash Credit Loan from Bank	14.105	0.000
Foreign currency Loans from Banks	52.072	0.000
Total	93.676	0.000

Auditors :
Name :	Rallan and Company Chartered Accountants
Address :	4D, Kaveri Centre, 1^st Floor, Block 57/2, Sanjay Place, Agra – 282002, Uttar Pradesh, India
Tel. No.:	91-265-2525999/ 2528598
PAN No.:	AAMPR7020F

Memberships :	Not Available

Collaborators :	Not Available

Associates :	Ross Med Corporation

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital:

No. of Shares	Type	Value	Amount

90000	Equity Shares	Rs.100/- each	Rs.9.000 Million

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount

89000	Equity Shares	Rs.100/- each	Rs.8.900 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	8.900	0.120	0.120
(b) Reserves & Surplus	(13.268)	0.000	0.000
(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)	(4.368)	0.120	0.120

(3) Non-Current Liabilities
(a) long-term borrowings	131.532	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	33.100	16.285	15.107
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	164.632	16.285	15.107

(4) Current Liabilities
(a) Short term borrowings	66.177	87.490	6.990
(b) Trade payables	4.067	0.000	0.000
(c) Other current liabilities	19.660	2.250	0.008
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	89.904	89.740	6.998

TOTAL	250.168	106.145	22.225

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	183.007	25.279	21.939
(ii) Intangible Assets	0.053	0.000	0.000
(iii) Capital work-in-progress	0.000	48.618	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)	5.927	0.000	0.000
(d) Long-term Loan and Advances	0.900	0.000	0.000
(e) Other Non-current assets	0.037	2.997	0.102
Total Non-Current Assets	189.924	76.894	22.041

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	37.504	0.000	0.000
(c) Trade receivables	7.829	0.000	0.000
(d) Cash and cash equivalents	4.796	2.887	0.184
(e) Short-term loans and advances	9.951	26.364	0.000
(f) Other current assets	0.164	0.000	0.000
Total Current Assets	60.244	29.251	0.184

TOTAL	250.168	106.145	22.225

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2014	31.03.2013	31.03.2012

GROSS REVENUE	66.587	NA	NA

EXPENSES	NA	NA	NA

PROFIT/ (LOSS) BEFORE TAX	NA	NA	NA

TAX	NA	NA	NA

PROFIT/ (LOSS) AFTER TAX	NA	NA	NA

Particulars

31.03.2015

Sales Turnover (Approximately)

226.300

Expected Sales (2015-16): Rs.350.000 Million (Due to more production).

The above information has been parted by Mr. Ankit (Account Executive).

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

(16.857)

Cash generated from operations

14.525

(25.840)

KEY RATIOS

PARTICULARS	31.03.2014	31.03.2013	31.03.2012

Debt Equity Ratio (Total Debt/Networth)	(45.26)	729.08	58.25

Current Ratio (Current Asset/Current Liability)	0.67	0.33	0.03

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	0.120	0.120	8.900
Reserves & Surplus	0.000	0.000	(13.268)
Net worth	0.120	0.120	(4.368)

long-term borrowings	0.000	0.000	131.532
Short term borrowings	6.990	87.490	66.177
Total borrowings	6.990	87.490	197.709
Debt/Equity ratio	58.250	729.083	(45.263)

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)	Yes
16	No. of employees	Yes
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
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 two years	Yes
27	Reasons for variation <> 20%	----------------------
28	Estimation for coming financial year	Yes
29	Profitability for last three years	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	Yes
35	Negative Reporting by Auditors in the Annual Report	No

FINANCIAL RESULTS

During the financial year ended on 31st march, 2014, The Company achieved gross revenue amounting to Rs 66.587 Million. They are Hopeful in achieving much better results in the coming years.

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Loan and advances from related parties	120.890	0.000
Less: Current Maturities of term loans	(16.857)	0.000
SHORT TERM BORROWING
Loan and advances from related parties	0.000	87.490
Total	104.033	87.490

INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10432558	12/01/2015 *	181,000,000.00	Canara Bank	OVERSEAS BRANCH, SANJAY PLACE, AGRA - 282002, Uttar Pradesh, INDIA	C49328446

* Date of charge modification

FIXED ASSETS

Land
Building
Plant and Machinery
Furniture and Fixtures
Vehicles
Office Equipment’s

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.63.91
UK Pound	1	Rs.100.40
Euro	1	Rs.70.41

INFORMATION DETAILS

Information Gathered by :	SVA

Analysis Done by :	DIV

Report Prepared by :	PNM

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
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	---
--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		12

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.

MIRA INFORM REPORT

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