MIRA INFORM REPORT

Report No. :	310420
Report Date :	03.03.2015

IDENTIFICATION DETAILS

Name :	BHARAT SERUMS AND VACCINES LIMITED
Formerly Known As :	GAUTAM LABORATORIES PRIVATE LIMITED
Registered Office :	17^th Floor, Hoechst House, Nariman Point, Mumbai – 400021, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	29.04.1971
Com. Reg. No.:	11-015134
Capital Investment / Paid-up Capital :	Rs.100.483 Million
CIN No.: [Company Identification No.]	U24230MH1971PLC015134
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	MUMB01505A
PAN No.: [Permanent Account No.]	AAACB2431M
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is engaged in the manufacturing, marketing and selling of vaccines.
No. of Employees :	1500 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (54)

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

Maximum Credit Limit :	USD 6500000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well-established company having fine track record. The rating reflects company’s healthy operational risk profitle marked by well-diversified product portfolio, established distribution network and decent financial base of the company. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitment. The company can be considered good for normal 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 – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
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	CARE
Rating	Long term bank facilities = A-
Rating Explanation	Adequate degree of safety and low credit risk.
Date	October 8, 2013

Rating Agency Name	CARE
Rating	Short term bank facilities = A2+
Rating Explanation	Strong degree of safety and low credit risk.
Date	October 8, 2013

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 31-03-2014.

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Mr. Alex
Designation :	Finance Head
Contact No.:	91-22-4504 3456

LOCATIONS

Registered Office :	17^th Floor, Hoechst House, Nariman Point, Mumbai – 400021, Maharashtra, India
Tel. No.:	91-22-66560900/ 66560980
Fax No.:	91-22-66560901/ 66560903
E-Mail :	aniket.hirpara@bharatserums.com shipa.likhite@bharatserums.com nilesh.pingale@bharatserums.com sharmas@orbimed.com corporate@bharatserums.com
Website :	www.bharatserums.com
Corporate Office :	Airoli Office 3rd Floor, Liberty Tower, Plot No - K-10, Behind Reliable Plaza, Kalwa Industrial Estate, Airoli, Navi Mumbai – 400708, Maharashtra, India
Tel. No.:	91-22-61383456
Fax No.:	91-22-61383400
E-Mail :	corporate@bharatserums.com export@bharatserums.com
Factory 1 :	Thane Plant Plot No. A-371-372, Road 27, Wagle Industrial Estate, Thane – 400604, Maharashtra, India
Tel. No.:	91-22-25822181
Fax No.:	91-22-25823640
E-Mail :	factory@bharatserums.com
Factory 2 :	Ambernath Plant Plot No. K-27, Anand Nagar, Additional M.I.D.C., Ambernath (East), Maharashtra, India
Tel. No.:	91-251-2621645
Fax No.:	91-251-2621089
E-Mail :	ambernath@bharatserums.com
Distribution Department :	Gala No. B, Plot No. 83 B2, Near Kala Industrial Estate, Opposite Shangrila Biscuit Factory, LBS Marg, Bhandup, Mumbai – 400078, Maharashtra, India
Tel. No.:	91-22-25919434
Fax No.:	91-22-25919544
Khoni Animal Farm :	At Post Khoni, Ambernath M.I.D.C. Road, Khoni-Taloja Link Road, Kalyan, Thane – 421308, Maharashtra, India
Tel. No.:	91-251-2395107

DIRECTORS

As on 30.09.2014

Name :

Mr. Bharat Vinod Daftary

Designation :

Managing director

Address :

114, Sneh Sadan, Churchgate, Reclamation, Mumbai – 400020, Maharashtra, India

Date of Birth/Age :

12.01.1956

Qualification :

Graduate

Date of Appointment :

01.10.2014

PAN No.:

ABPPD0877D

DIN No.:

00011518

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	U24230MH1984PTC032645	HITECH LABORATORIES PRIVATE LIMITED	Director	12/04/1984	12/04/1984	-	Active	NO
2	U28113MH1988PTC047315	HAVER STANDARD INDIA PRIVATE LIMITED	Director	05/07/1989	05/07/1989	01/10/2010	Active	NO
3	U24230MH1971PLC015134	BHARAT SERUMS AND VACCINES LIMITED	Managing director	01/10/2014	05/05/1992	-	Active	NO
4	U33110MH1993PTC075088	AKSIPRO DIAGNOSTICS PRIVATE LIMITED	Director	11/11/1993	11/11/1993	-	Active	NO
5	U24239MH1995PTC091631	AKSIGEN PHARMACEUTICALS PRIVATE LIMITED	Director	09/08/1995	09/08/1995	-	Active	NO
6	U24230MH1994PTC079029	AKSITECH LIFE SCIENCES PRIVATE LIMITED	Director	12/05/1997	12/05/1997	-	Active	NO
7	U24230MH2000PTC125061	SIRO CLINPHARM PRIVATE LIMITED	Director	21/03/2000	21/03/2000	-	Active	NO
8	U24230GJ2005PTC046915	ZYDUS BSV PHARMA PRIVATE LIMITED.	Nominee director	17/10/2005	17/10/2005	01/02/2012	Active	NO
9	U73100GJ2005PTC046914	ZYDUS BSV RESEARCH AND DEVELOPMENT PRIVATE LIMITED	Nominee director	17/10/2005	17/10/2005	-	Amalgamated	NO
10	U93090PN2006PTC144633	inVentiv International Pharma Services Private Limited	Director	17/11/2006	17/11/2006	15/04/2008	Active	NO
11	U73100MH2005PTC153327	KASIAK RESEARCH PRIVATE LIMITED CN	Director	16/05/2007	16/05/2007	-	Active	NO
12	U24297MH2010PTC209352	Advy Chemical Private Limited	Director	22/10/2010	22/10/2010	-	Active	NO
13	U85191MH2012PTC228492	SALT HEALTH SOLUTIONS PRIVATE LIMITED	Director	20/03/2012	20/03/2012	16/12/2013	Active	NO
14	U73100MH2013PTC251249	Eurolife Regen Private Limited	Director	20/12/2013	20/12/2013	-	Active	NO
15	AAA-7789	NEXTLINE DIAGNOSTICS LIMITED LIABILITY PARTNERSHIP	Designated Partner	27/01/2012	27/01/2012	-	Active	NO

Name :

Dr. Gautam Vinod Daftary

Designation :

Managing director

Address :

114, Sneh Sadan, Churchgate, Reclamation, Mumbai – 400020, Maharashtra, India

Date of Birth/Age :

03.10.1959

Qualification :

Doctor

Date of Appointment :

01.10.2014

PAN No.:

ABPPD0878N

DIN No.:

00009326

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	U24230MH1984PTC032645	HITECH LABORATORIES PRIVATE LIMITED	Director	12/04/1984	12/04/1984	-	Active	NO
2	U24230MH1971PLC015134	BHARAT SERUMS AND VACCINES LIMITED	Managing director	01/10/2014	05/05/1992	-	Active	NO
3	U33110MH1993PTC075088	AKSIPRO DIAGNOSTICS PRIVATE LIMITED	Director	11/11/1993	11/11/1993	-	Active	NO
4	U24230MH1994PTC079029	AKSITECH LIFE SCIENCES PRIVATE LIMITED	Director	12/05/1997	12/05/1997	-	Active	NO
5	U24230MH2000PTC125061	SIRO CLINPHARM PRIVATE LIMITED	Director	21/03/2000	21/03/2000	-	Active	NO
6	U24239MH1995PTC091631	AKSIGEN PHARMACEUTICALS PRIVATE LIMITED	Director	09/08/2005	09/08/2005	-	Active	NO
7	U24230GJ2005PTC046915	ZYDUS BSV PHARMA PRIVATE LIMITED.	Nominee director	17/10/2005	17/10/2005	-	Active	NO
8	U73100GJ2005PTC046914	ZYDUS BSV RESEARCH AND DEVELOPMENT PRIVATE LIMITED	Nominee director	17/10/2005	17/10/2005	-	Amalgamated	NO
9	U93090PN2006PTC144633	inVentiv International Pharma Services Private Limited	Director	17/11/2006	17/11/2006	15/04/2008	Active	NO
10	U73100MH2005PTC153327	KASIAK RESEARCH PRIVATE LIMITED CN	Director	16/05/2007	16/05/2007	-	Active	NO
11	U24297MH2010PTC209352	Advy Chemical Private Limited	Director	22/10/2010	22/10/2010	-	Active	NO
12	U85191MH2011PTC222774	ZHI HOLISTIC PRIVATE LIMITED	Director	07/10/2011	07/10/2011	-	Active	NO
13	U85191MH2012PTC228492	SALT HEALTH SOLUTIONS PRIVATE LIMITED	Director	20/03/2012	20/03/2012	16/12/2013	Active	NO
14	U73100MH2013PTC251249	Eurolife Regen Private Limited	Additional director	15/01/2014	15/01/2014	-	Active	NO
15	AAA-7789	NEXTLINE DIAGNOSTICS LIMITED LIABILITY PARTNERSHIP	Designated Partner	27/01/2012	27/01/2012	-	Active	NO
16	AAA-9134	SYSTEMS PLUS TRANSFORMATIONS LIMITED LIABILITY PARTNERSHIP	Designated Partner	10/05/2012	10/05/2012	-	Active	NO

Name :

Mr. Siddharth Bharat Daftary

Designation :

Whole-time director

Address :

114, Sneh Sadan, Churchgate, Reclamation, Mumbai – 400020, Maharashtra, India

Date of Birth/Age :

28.12.1983

Qualification :

MSC

Date of Appointment :

01.10.2014

PAN No.:

AFKPD1429F

DIN No.:

02897197

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	U24230MH1971PLC015134	BHARAT SERUMS AND VACCINES LIMITED	Whole-time director	01/10/2014	22/12/2009	-	Active	NO
2	U73100MH2005PTC153327	KASIAK RESEARCH PRIVATE LIMITED CN	Director	28/09/2010	18/03/2010	18/11/2013	Active	NO
3	U33110MH1993PTC075088	AKSIPRO DIAGNOSTICS PRIVATE LIMITED	Director	28/09/2010	18/03/2010	-	Active	NO
4	U15132MH2008PTC188318	NOSTIMIA FOODS PRIVATE LIMITED	Director	28/09/2010	18/03/2010	-	Active	NO
5	U24297MH2010PTC209352	Advy Chemical Private Limited	Director	22/10/2010	22/10/2010	-	Active	NO

Name :

Mr. Suketu Viren Shah

Designation :

Director

Address :

A/52, Darshan Apartments, Mt. Pleasant Road, Malabar Hill, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

04.12.1954

Qualification :

MBA from Harvard Business School

Date of Appointment :

01.10.2014

DIN No.:

00033407

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	U65920MH1982PTC027800	JYOTI SHAH PREMISES AND INVESTMENTS PRIVATE LIMITED	Director	14/07/1982	14/07/1982	-	Active	NO
2	U01100MH1982PTC029007	SUNNYDAYS AGRO COMPANY PRIVATE LIMITED	Director	10/01/1983	10/01/1983	20/12/2007	Active	NO
3	U01100MH1982PTC029006	AMIVIR AGRO CO PRIVATE LIMITED	Director	23/03/1983	23/03/1983	20/12/2007	Active	NO
4	U67120MH1982PTC026490	RAJVI ENGINEERING AND INVESTMENTS PRIVATE LIMITED	Director	25/01/1984	25/01/1984	-	Active	NO
5	U67120MH1982PTC026494	KSHITIJ HOLDINGS AND ENGINEERING PRIVATE LIMITED	Director	13/11/1987	13/11/1987	-	Active	NO
6	U67120MH1982PTC026493	AKHIL INVESTMENTS AND TRADES PRIVATE LIMITED	Director	13/11/1987	13/11/1987	-	Active	NO
7	U24239MH1980PTC022904	ADONIS LABORATORIES PRIVATE LIMITED	Director	07/03/1988	07/03/1988	-	Active	NO
8	U01110MH1982PTC029008	ANANT JEEWAN AGRO COMPANY PRIVATE LIMITED	Director	28/07/1988	28/07/1988	20/12/2007	Active	NO
9	U01100MH1982PTC029005	AMAR JYOTI AGRO COMPANY PRIVATE LIMITED	Director	28/07/1988	28/07/1988	20/12/2007	Active	NO
10	L99999MH1937PLC002726	MUKAND LIMITED	Managing director	05/07/2014	03/07/1989	-	Active	NO
11	U15209WB1991PLC051980	METRO DAIRY LIMITED	Director	10/06/1991	10/06/1991	31/05/2011	Active	NO
12	U67120MH1992PTC066417	LINEAGE INVESTMENTS Private Limited	Director	17/07/1992	17/07/1992	06/02/2012	Active	NO
13	U65990MH1992PTC067166	PRIMUS INVESTMENTS AND FINANCE Private Limited	Director	18/07/1992	18/07/1992	06/02/2012	Active	NO
14	U65990MH1992PTC067732	ECONIUM INVESTMENTS AND FINANCE Private Limited	Director	24/07/1992	24/07/1992	06/02/2012	Active	NO
15	U67120MH1979PLC021418	MUKAND GLOBAL FINANCE LIMITED	Director	30/11/1992	30/11/1992	27/09/2007	Active	NO
16	U85110MH1995PLC235609	MUKAND VIJAYANAGAR STEEL LIMITED	Director	14/09/1995	14/09/1995	21/03/2012	Active	NO
17	U27106MH1968NPL014092	THE ALLOY STEEL PRODUCERS ASSOCIATION OF INDIA	Director	26/09/1997	26/09/1997	-	Active	NO
18	U85110KA1998PLC023759	HOSPET STEELS LIMITED	Director	20/05/1998	20/05/1998	-	Active	NO
19	U72200MH1990PLC056987	UTV SOFTWARE COMMUNICATIONS LIMITED	Director	07/07/2000	07/07/2000	16/03/2012	Active	NO
20	U72200DL1997FLC085765	CLICKFORSTEEL SERVICES LIMITED	Director	10/04/2001	10/04/2001	-	Strike off	NO
21	U51900MH1937PLC002724	JEEWAN LIMITED	Director	16/06/2001	16/06/2001	-	Active	NO
22	U15110MH2000PLC125868	GALAXY LIFESTYLE RESTAURANTS LIMITED	Director	25/06/2001	25/06/2001	-	Amalgamated	NO
23	U45400MH2008PTC179591	JLS REALTY PRIVATE LIMITED	Director	30/09/2009	29/07/2008	-	Active	NO
24	U14200MH2008PLC187216	MUKAND VINI MINERAL LIMITED	Director	15/10/2008	15/10/2008	-	Active	NO
25	U01403MH2009PTC194755	SHAHVIR AGRO PRIVATE LIMITED	Director	08/08/2009	08/08/2009	-	Active	NO
26	U74900MH2008PTC180685	LOTAN VEER SECURITY PRIVATE LIMITED	Additional director	12/10/2009	12/10/2009	04/05/2011	Active	NO
27	U24230MH1971PLC015134	BHARAT SERUMS AND VACCINES LIMITED	Director	01/10/2014	22/12/2009	-	Active	NO
28	U13203WB2008PTC123133	ISARNAN STEEL AND MINERALS PRIVATE LIMITED	Director	27/04/2012	27/04/2012	27/01/2015	Active	NO
29	U45400MH2013PTC239722	Akshay Developers (Sion) Private Limited	Director	16/01/2013	16/01/2013	-	Active	NO

Name :

Mr. Nitin Jagannath Deshmukh

Designation :

Director

Address :

Flat No. 201, Ekta Heritage, 15 Road, Khar (West), Mumbai – 400052, Maharashtra, India

Date of Birth/Age :

07.11.1962

Qualification :

MBA, MPT (UDCT)

Date of Appointment :

25.09.2009

DIN No.:

00060743

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	U73100KA2000PLC028246	METAHELIX LIFE SCIENCES LIMITED	Nominee director	02/06/2005	02/06/2005	30/12/2010	Active	NO
2	U85110KA1961PLC001433	BHARAT FRITZ WERNER LIMITED	Director	23/03/2006	23/03/2006	29/07/2009	Active	NO
3	U74210TN2002PTC049197	MACROCOMM CONVERGENCE (INDIA) PRIVATE LIMITED	Additional director	02/05/2006	02/05/2006	-	Dissolved	NO
4	U31200TZ1992PTC004114	DIGITRAC POWER CONTROLS PRIVATE LIMITED	Additional director	08/06/2006	08/06/2006	-	Amalgamated	NO
5	U31200TZ1984PTC001476	DYNA SPEDE INTEGRATED SYSTEMS PRIVATE LIMITED	Nominee director	28/08/2007	08/06/2006	02/07/2009	Active	NO
6	U74210PN2002PTC017313	VLIFE SCIENCES TECHNOLOGIES PRIVATE LIMITED	Nominee director	15/06/2006	15/06/2006	17/12/2012	Amalgamated	NO
7	U05121KA2002PLC031204	DHAANYA SEEDS LIMITED	Director	07/08/2006	12/07/2006	30/12/2010	Amalgamated	NO
8	U63040TG1991PTC013178	DRS LOGISTICS PRIVATE LIMITED	Director	21/02/2008	13/02/2007	18/10/2008	Active	YES
9	U24230MH2000PTC125061	SIRO CLINPHARM PRIVATE LIMITED	Nominee director	28/03/2007	28/03/2007	07/01/2013	Active	NO
10	U24230GJ2005PLC047111	INTAS BIOPHARMACEUTICALS LIMITED	Director	28/09/2007	14/08/2007	11/11/2010	Amalgamated	NO
11	U73100MH1999PTC119744	RUBICON RESEARCH PRIVATE LIMITED	Director	25/08/2007	25/08/2007	17/12/2012	Active	NO
12	U24231MH1995PTC085656	INDUS BIOTECH PRIVATE LIMITED	Director	24/09/2007	30/08/2007	-	Active	NO
13	U74999PN2002PLC016834	BVG INDIA LIMITED	Nominee director	31/03/2008	31/03/2008	11/01/2011	Active	NO
14	U65990MH1994PLC077472	KOTAK INVESTMENT ADVISORS LIMITED	Whole-time director	01/04/2014	01/04/2008	08/08/2014	Active	NO
15	U24230MH1971PLC015134	BHARAT SERUMS AND VACCINES LIMITED	Director	25/09/2009	21/11/2008	-	Active	NO
16	U85110KA2010PTC052540	MANIPAL HEALTH ENTERPRISES PRIVATE LIMITED	Nominee director	22/11/2010	22/11/2010	15/12/2012	Active	NO
17	L24230TG1981PLC003201	NATCO PHARMA LIMITED	Additional director	09/02/2012	09/02/2012	28/01/2014	Active	NO

Name :

Mr. Ajeet Singh Karan

Designation :

Director

Address :

House No.36, Sector – 37, Arunvihar, Noida – 201303, Uttar Pradesh, India

Date of Birth/Age :

09.12.1965

Qualification :

IIM (Ahmedabad)

Date of Appointment :

01.10.2014

DIN No.:

00183622

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	U67190DL2005PTC142001	ACE WEALTH MANAGEMENT PRIVATE LIMITED	Director	21/10/2005	21/10/2005	-	Active	NO
2	U72300PY2000PTC001532	INTEGRA SOFTWARE SERVICES PRIVATE LIMITED	Director	01/09/2009	26/10/2006	04/11/2014	Active	NO
3	U74210DL2005PTC137756	COLLABIS CONSULTING PRIVATE LIMITED	Additional director	17/08/2007	17/08/2007	02/03/2009	Active	NO
4	U24230MH1971PLC015134	BHARAT SERUMS AND VACCINES LIMITED	Director	01/10/2014	27/09/2007	-	Active	NO
5	U74140KA2003PTC032950	IMS HEALTH ANALYTICS SERVICES PRIVATE LIMITED	Director	25/09/2009	09/06/2009	18/01/2012	Active	NO
6	U72200TN2003PTC051138	SECOVA eSERVICES Private Limited	Director	29/09/2009	01/08/2009	-	Active	NO
7	U40101TN2005PTC058237	AURO MIRA ENERGY COMPANY PRIVATE LIMITED	Director	27/08/2009	27/08/2009	-	Active	NO
8	U28991TN1981PLC009067	CETHAR LIMITED	Director	27/12/2010	22/12/2010	16/08/2013	Active	NO
9	L85110KA1987PLC008739	SHILPA MEDICARE LIMITED	Director	22/09/2011	28/01/2011	-	Active	NO
10	U80900KA2013NPL069021	KAUSHALYA VIKAS KENDRA	Director	09/05/2013	09/05/2013	-	Active	NO

Name :

Mr. Sunny Sharma

Designation :

Director

Address :

10, West End Ave Apartment, 11 H, New York - 10023

Date of Birth/Age :

31.08.1974

Qualification :

M.B.B.S. MBA from IIM, Bangalore

Date of Appointment :

16.09.2010

DIN No.:

02267273

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	U67120MH2008FTC186971	OrbiMed Advisors India Private Limited	Managing director	24/09/2008	23/09/2008	-	Active	NO
2	U73100KA2004PLC035260	MANIPAL ACUNOVA LIMITED	Nominee director	30/11/2009	30/11/2009	-	Active	NO
3	U24230MH1971PLC015134	BHARAT SERUMS AND VACCINES LIMITED	Director	16/09/2010	24/03/2010	-	Active	NO
4	U74999KL2006PLC019208	CONDIS INDIA HEALTHCARE LIMITED	Nominee director	03/12/2011	03/12/2011	-	Active	NO
5	U85110KL2007PLC020344	KIMS HEALTH CARE AND RESEARCH CENTER LIMITED	Nominee director	15/12/2011	15/12/2011	-	Amalgamated	NO
6	U85110KL1995PLC009336	KIMS HEALTH CARE MANAGEMENT LIMITED	Nominee director	15/12/2011	15/12/2011	-	Active	NO
7	U85110KL2008PTC022467	KIMS PINNACLE CANCER CARE AND RESEARCH CENTER PRIVATE LIMITED	Nominee director	27/01/2012	27/01/2012	-	Active	NO
8	L24117TN1976PLC007122	Shasun Pharmaceuticals Limited	Director	02/08/2012	29/03/2012	-	Active	NO
9	U85110KL2013PTC033566	KIMS KOLLAM MULTI SPECIALITY HOSPITAL INDIA PRIVATE LIMITED	Nominee director	04/04/2013	04/04/2013	-	Active	NO
10	U85110KL2010PTC026107	KIMS Bellerose Institute of Medical Sciences Private Limited	Director	20/04/2013	20/04/2013	-	Active	NO
11	U85100MH2010PTC203093	SURYA CHILDREN'S MEDICARE PRIVATE LIMITED	Nominee director	23/07/2013	23/07/2013	-	Active	NO
12	U74999MH2013PTC250405	Surya Mother and Child Care Private Limited	Director	26/11/2013	26/11/2013	-	Active	NO
13	U74999DL2007PTC159674	Blue Sapphire Healthcares Private Limited	Nominee director	09/01/2014	09/01/2014	-	Active	NO
14	U51507MH2004PTC147394	LAXMI DENTAL EXPORT PRIVATE LIMITED	Director	07/02/2015	07/02/2015	-	Active	NO

Name :

Mrs. Kavita Vinod Khanna

Designation :

Director

Address :

13/C, ILL Plaza, Little Gibs Road, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

31.08.1961

Date of Appointment :

30.08.2013

DIN No.:

00100979

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	U29198MH1978PTC020848	BHARAT RADIATORS INDUSTRIES PRIVATE LIMITED	Director	03/10/1984	03/10/1984	-	Active	NO
2	U84200MH1992PTC069924	VISTA COMMUNICATIONS PRIVATE LIMITED	Director	07/12/1992	07/12/1992	-	Active	NO
3	U31909MH1958PTC011015	BHARAT RADIATORS PRIVATE LIMITED	Director	02/12/1998	02/12/1998	-	Active	NO
4	U45200MH2005PTC151913	DAFTARY- DESCON ENGINEERING PRIVATE LIMITED	Director	11/03/2005	11/03/2005	30/04/2008	Active	NO
5	L34103PN1944PLC020842	PREMIER LIMITED	Director	12/09/2014	08/05/2008	-	Active	NO
6	U24230MH1971PLC015134	BHARAT SERUMS AND VACCINES LIMITED	Director	30/08/2013	30/04/2013	-	Active	NO
7	U73100MH2005PTC153327	KASIAK RESEARCH PRIVATE LIMITED CN	Director	29/09/2014	18/11/2013	-	Active	NO

Name :

Mr. Manu Prafull Daftary

Designation :

Director

Address :

8, Waybridge Lane, Wayland MA Wayland MA 01778

Date of Birth/Age :

21.06.1957

Qualification :

B.A. (Eco), BS, MBA (California), CFA

Date of Appointment :

01.10.2014

DIN No.:

06425237

Name :

Mr. Girish Bakre

Designation :

Executive Director

Address :

82, Sarnath, 59-B, B. Desai Road, Mumbai – 400026, Maharashtra, India

Date of Birth/Age :

06.09.1960

Date of Appointment :

01.09.2013

DIN No.:

00010760

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	U67200MH2002PTC137896	PIONEER INSURANCE AND REINSURANCE BROKERS PRIVATE LIMITED	Director	02/12/2002	02/12/2002	27/01/2009	Active	NO
2	L40100MH1996PLC104361	NAGPUR POWER AND INDUSTRIES LIMITED	Director	15/09/2014	29/06/2004	-	Active	NO
3	U34101MH2003PTC139180	SHARPPOINT MOTORS AND AUTOMOBILES PRIVATE LIMITED	Director	01/02/2005	01/02/2005	27/01/2009	Active	NO
4	U74140MH2006PTC159523	PRAXIS ADVISORS PRIVATE LIMITED	Director	06/02/2006	06/02/2006	-	Active	NO
5	U67110MH2006PTC160858	Polymath Advisors Private Limited	Director	30/03/2006	30/03/2006	31/01/2007	Active	NO
6	U74140MH2007PTC170470	PRAGMATYX ADVISORS PRIVATE LIMITED	Director	01/05/2007	01/05/2007	20/09/2013	Active	NO
7	U74900MH2007PTC176393	Tower Corporate Financial Services Private Limited	Director	03/12/2007	03/12/2007	-	Active	NO
8	U45200MH2008PTC178745	PANACHE REAL ESTATE PRIVATE LIMITED	Director	11/02/2008	11/02/2008	-	Strike off	NO
9	U24230GJ2005PTC046915	ZYDUS BSV PHARMA PRIVATE LIMITED.	Director	19/09/2013	28/12/2012	-	Active	NO
10	U73100MH2005PTC153327	KASIAK RESEARCH PRIVATE LIMITED CN	Director	01/08/2013	01/08/2013	-	Active	NO
11	U24230MH1971PLC015134	BHARAT SERUMS AND VACCINES LIMITED	Whole-time director	01/09/2013	01/09/2013	-	Active	NO
12	U73100MH2013PTC251249	Eurolife Regen Private Limited	Additional director	15/01/2014	15/01/2014	-	Active	NO

Name :

Mr. Milind Vaidya

Designation :

Executive Director

Address :

4, Rajashree, Behind Shazy Building, off. Juhu Versova Link Road, Andheri (West), Mumbai – 400058, Maharashtra, India

Date of Birth/Age :

15.06.1958

Date of Appointment :

01.03.2014

DIN No.:

02298685

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	U15132MH2008PTC188318	NOSTIMIA FOODS PRIVATE LIMITED	Director	19/11/2008	19/11/2008	-	Active	NO
2	U74900MH2009PTC193572	MORPHEUS LIFE SCIENCES PRIVATE LIMITED	Director	01/03/2014	06/08/2009	-	Active	NO
3	U73100MH2013PTC251249	Eurolife Regen Private Limited	Additional director	15/01/2014	15/01/2014	-	Active	NO
4	U24230MH1971PLC015134	BHARAT SERUMS AND VACCINES LIMITED	Whole-time director	01/03/2014	01/03/2014	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Nilesh Narayan Pingle
Designation :	Secretary
Address :	701, Tara Manek, Opposite Karkhanis Hospital, Court Naka, Thane (West) – 400601, Maharashtra, India
Date of Birth/Age :	07.01.1978
Date of Appointment :	20.08.2012
PAN No.:	ALWPP4774B

MAJOR SHAREHOLDERS

As on 30.09.2014

Names of Equity Shareholders	No. of Shares
Vinod G. Daftary	2073954
Gaurang S Daftary	106500
Ameet S Daftary	106500
Gautam V. Daftary	1839820
Bharat V. Daftary (HUF)	776990
Gautam V. Daftary (HUF)	776990
Vinod Daftary (HUF)	750
Akshay G. Daftary Jointly with Aarti G. Daftary	750
Siddharth B. Daftary Jointly with Bhavna Daftary	750
Ansuya V. Daftary Jointly with Vinod G. Daftary	750
Nayantara H. Kothari Jointly with Sarala G. Kothari	135750
Bharat V. Daftary	1839820
Aksipro Diagnostic Private Limited, India	900000
Bharat V. Daftary Jointly with Bhavna Daftary	1906200
Gautam V. Daftary Jointly with Aarti Daftary	1906200
Aarti Daftary Jointly with Gautam Daftary	1012500
Bhavna Daftary Jointly with Bharat Daftary	1012500
Agcetech Pharmaceuticals LLP, India	155562
Czaee Shah	71000
Gauri Pohoomul	71000
Kavita Khanna	88120
Kotak Mahindra Trusteeship Services Limited - A/c Kotak India Growth Fund II, India *	1201801
Kotak India Private Equity Fund, Mauritius **	407727
Kotak Investment Advisors Limited, India	29151
Raj N. Parekh	300
Caduceus Asia Mauritius Limited, Mauritius	699358
Total	17120743

*The total equity shareholding of Kotak Mahindra Trusteeship Services Limited includes, Sixty One (61) Equity shares with Different Voting Rights.

**The total equity shareholding of Kotak India Private Equity Fund includes, Thirty Nine (39) Equity shares with Differential Voting Rights.

Names of Convertible Redeemable Preference Shareholders	No. of Shares
Kotak Mahindra Trusteeship Services Limited – A/c Kotak India Growth Fund II, India	892305
Kotak Investment Advisors Limited, India	26938
Total	919243

Names of Compulsorily Convertible Cumulative Preference Shareholder Series I	No. of Shares
Kotak India Private Equity Fund	714119
Total	714119

Names of Compulsorily Convertible Cumulative Preference Shareholder Series II	No. of Shares
Caduceus Asia Mauritius Limited, Mauritius	1342444
Total	1342444

As on 30.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	6.46
Bodies corporate	6.34
Directors or relatives of Directors	76.80
Other top fifty shareholders	3.38
Venture Capital	7.02
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in the manufacturing, marketing and selling of vaccines.

Products :

Item Code No. (ITC Code)	Product Description
30021099	Monoclonal Anti-Rho(D) Immuneglobulin

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Countries :

Asian Countries

Imports :

Countries :

• Germany
• Korea
• China

Terms :

Selling :

Not Available

Purchasing :

Not Available

PRODUCTION STATUS = NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Venus Remedies Limited
Name of the Person :	Not Available
Contact No.:	Not Available
Since How Long Known :	Not Available
Experience :	Not Available
Maximum Limit Dealt :	Not Available

Customers :

Reference :	Biopharma, Kalbadevi, Mumbai, Maharashtra, India
Name of the Person :	Not Available
Contact No.:	Not Available
Since How Long Known :	Not Available
Experience :	Not Available
Maximum Limit Dealt :	Not Available

No. of Employees :

1500 (Approximately)

Bankers :

Banker Name	IDBI Bank Limited
Branch Address	224 A, 2^nd Floor, Mittal Court, Nariman Point, Mumbai – 400021, Maharashtra, India
Person Name (With Designation)	Not Available
Contact Number	Not Available
Name of Account Holder	Not Available
Account Number	Not Available
Account Since (Date/Year of Account Opening)	Not Available
Average Balance Maintained (If Possible)	Not Available
Credit Facilities Enjoyed (If any)	Cash Credit = Rs. 600.000 Million
Account Operation	Not Available
Remarks (If any)	Not Available

• Bank of Baroda, Backbay Reclamation Branch, Ram Mahal, Backbay Reclamation, Mumbai – 400020, Maharashtra, India
• RBL Bank Limited, Shahupuri, Kolhapur – 416001, Maharashtra, India
• Export-Import Bank of India, Centre One Building, 21 Floor, World Trade Centre , Cuffe Parade, Mumbai - 400005, Maharashtra, India
• Cororation Bank, Overseas Branch, 1st, Floor, Earnest House, Nariman Point - 400021, Maharashtra, India

Facilities :

SECURED LOANS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
LONG TERM BORROWINGS
Term loans from banks	508.678	475.038
Loans and advances from related parties	67.224	79.092
Long term maturities of finance lease obligations	56.689	0.000
Other loans and advances	3.941	0.000
SHORT TERM BORROWINGS
Loans repayable on demand	753.315	660.594
Total	1389.847	1214.724

Financial Institution :	Department Of Biotechnology, 6-8th Floor, Block No. 2, Cgo Complex, Lodhi Road , New Delhi, Delhi - 110003, India
Auditors :
Name :	BSR and Associates Chartered Accountants
Address :	Lodha Excelus, 1st Floor, Apollo Mills Compound, N. M. Joshi Marg, Mumbai 400011, Maharashtra, India
PAN No.:	AADFB6889R
Memberships :	Not Available
Collaborators :	Not Available
Subsidiary company :	Bsv Bioscience Inc, United States Bsv Bioscience Gmbh, Germany
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	Kasiak Research Private Limited Cn, India Evergreen Family Business Advisors, India Siro Clinpharm Private Limited, India

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
20988000	Equity Shares	Rs.5/-each	Rs.104.940 Million
3012000	Preference Shares	Rs.5/-each	Rs.15.060 Million
	Total		Rs.120.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
17120743	Equity Shares	Rs.5/-each	Rs.85.604 Million
2975806	Preference Shares	Rs.5/-each	Rs.14.879 Million
	Total		Rs.100.483 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	100.483	100.483	100.483
(b) Reserves & Surplus	2205.471	2032.373	1739.191
(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)	2305.954	2132.856	1839.674
(3) Non-Current Liabilities
(a) long-term borrowings	718.371	649.608	623.124
(b) Deferred tax liabilities (Net)	30.121	0.000	0.000
(c) Other long term liabilities	206.456	176.207	124.426
(d) long-term provisions	28.079	27.299	18.707
Total Non-current Liabilities (3)	983.027	853.114	766.257
(4) Current Liabilities
(a) Short term borrowings	838.315	660.956	736.406
(b) Trade payables	344.502	311.643	214.183
(c) Other current liabilities	540.814	335.310	344.452
(d) Short-term provisions	103.366	142.591	52.807
Total Current Liabilities (4)	1826.997	1450.500	1347.848
TOTAL	5115.978	4436.470	3953.779
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	889.961	824.894	849.776
(ii) Intangible Assets	369.794	379.668	174.732
(iii) Capital work-in-progress	281.445	226.006	192.715
(iv) Intangible assets under development	780.817	757.395	830.513
(b) Non-current Investments	475.739	408.239	328.239
(c) Deferred tax assets (net)	0.000	0.000	19.000
(d) Long-term Loan and Advances	408.443	288.074	215.497
(e) Other Non-current assets	4.175	17.733	33.277
Total Non-Current Assets	3210.374	2902.009	2643.749
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	766.325	536.446	567.141
(c) Trade receivables	622.591	712.303	592.755
(d) Cash and cash equivalents	44.658	27.855	33.010
(e) Short-term loans and advances	246.470	222.256	93.463
(f) Other current assets	225.560	35.601	23.661
Total Current Assets	1905.604	1534.461	1310.030
TOTAL	5115.978	4436.470	3953.779

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	3643.958	3492.291	2652.622
	Other Income	61.486	17.786	33.543
	TOTAL	3705.444	3510.077	2686.165
Less	EXPENSES
	Cost of Materials Consumed	909.837	829.940	778.678
	Purchases of Stock-in-Trade	387.941	256.861	359.375
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(87.915)	38.730	(100.518)
	Employees benefits expense	614.493	564.203	415.464
	Other expenses	1352.549	1232.320	966.567
	TOTAL	3176.905	2922.054	2419.566
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	528.539	588.023	266.599
Less	FINANCIAL EXPENSES	141.184	116.882	118.794
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	387.355	471.141	147.805
Less/ Add	DEPRECIATION/ AMORTISATION	154.745	128.527	118.250
Add	EXCEPTIONAL ITEMS BEFORE TAX	0.000	0.000	(0.477)
	PROFIT/ (LOSS) BEFORE TAX	232.610	342.614	29.078
Less	TAX	30.121	20.041	(40.382)
	PROFIT/ (LOSS) AFTER TAX	202.489	322.573	69.460
	Earnings / (Loss) Per Share (Rs.)	11.83	18.84	4.06

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin PAT / Sales	(%)	2.62	9.24	5.56
Operating Profit Margin (PBDIT/Sales)	(%)	10.05	16.84	14.50
Return on Total Assets (PBT/Total Assets}	(%)	1.13	11.25	6.50
Return on Investment (ROI) (PBT/Networth)		0.02	0.16	0.10
Debt Equity Ratio (Total Debts/Networth)		0.74	0.61	0.68
Current Ratio (Current Asset/Current Liability)		0.97	1.06	1.04

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	100.483	100.483	100.483
Reserves & Surplus	1739.191	2032.373	2205.471
Net worth	1839.674	2132.856	2305.954
long-term borrowings	623.124	649.608	718.371
Short term borrowings	736.406	660.956	838.315
Total borrowings	1359.530	1310.564	1556.686
Debt/Equity ratio	0.739	0.614	0.675

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	2652.622	3492.291	3643.958
		31.654	4.343

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	2652.622	3492.291	3643.958
Profit	69.460	322.573	202.489
	2.62%	9.24%	5.56%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	----------------------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	Yes
18]	Major customers	Yes
19]	Payments terms	No
20]	Export / Import details (if applicable)	Yes
21]	Market information	----------------------
22]	Litigations that the firm / promoter involved in	----------------------
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	----------------------
26]	Buyer visit details	----------------------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10534842	21/11/2014	150,000,000.00	RBL Bank Limited	SHAHUPURI,KOLHAPUR, KOLHAPUR, Maharashtra - 416001, INDIA	C35922145
2	10413329	22/03/2013	200,000,000.00	EXPORT-IMPORT BANK OF INDIA	CENTRE ONE BUILDING, 21 FLOOR, WORLD TRADE CENTRE, CUFFE PARADE, MUMBAI, Maharashtra - 400005, INDIA	B71295315
3	10412851	22/03/2013 *	350,000,000.00	EXPORT-IMPORT BANK OF INDIA	CENTRE ONE BUILDING, 21 FLOOR, WORLD TRADE CENTRE, CUFFE PARADE, MUMBAI, Maharashtra - 400005, INDIA	B71978852
4	10331779	25/07/2012 *	350,000,000.00	Export Import Bank of India	Centre One Building, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, INDIA	B45661824
5	10320221	20/03/2012 *	100,000,000.00	IDBI Bank Limited	DOSTI PINNACLE, GROUND FLOOR, ROAD NO.22, WAGLE INDUSTRIAL ESTATE, THANE WEST, Maharashtra - 400604, INDIA	B36100238
6	10239209	31/07/2010	14,309,000.00	DEPARTMENT OF BIOTECHNOLOGY	6-8th FLOOR, BLOCK NO. 2, CGO COMPLEX, LODHI ROAD, NEW DELHI, Delhi - 110003, INDIA	A94241536
7	10209223	21/10/2010 *	160,000,000.00	EXPORT-IMPORT BANK OF INDIA	Centre One Building, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, INDIA	A96933908
8	10181585	29/09/2009	65,000,000.00	CORORATION BANK	OVERSEAS BRANCH, 1ST, FLOOR, EARNEST HOUSE, NARIMAN POINT, Maharashtra - 400021, INDIA	A71369730

UNSECURED LOANS

PARTICULAR	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
LONG TERM BORROWINGS
Loans and advances from others	81.839	95.478
SHORT TERM BORROWINGS
Loans and advances from related parties	0.000	0.362
Other loans and advances	85.000	0.000
Total	166.839	95.840

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.61.82
UK Pound	1	Rs.95.26
Euro	1	Rs.69.13

INFORMATION DETAILS

Analysis Done by :	KAR
Report Prepared by :	PNM

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILITY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--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		54

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.