MIRA INFORM REPORT

Report No. :	321673
Report Date :	22.05.2015

IDENTIFICATION DETAILS

Name :	PROTON PHARMA PRIVATE LIMITED

Registered Office :	SCO 165, Sector 38C, Chandigarh-160038
Tel. No.:	91-172-5019403

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	22.05.2012

Com. Reg. No.:	53-033816

Capital Investment / Paid-up Capital :	Rs.7.100 Million

CIN No.: [Company Identification No.]	U24232CH2012PTC033816

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

PAN No.: [Permanent Account No.]	Not Available

Legal Form :	Private Limited Liability Company

Line of Business :	Trader, Distributer and Suppliers of Pharmaceutical Medicines.

No. of Employees :	20 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Maximum Credit Limit :	USD 25000

Status :	Moderate

Payment Behaviour :	Slow But Correct

Litigation :	Clear

Comments :	Subject is an established company having moderate track. The company has low reserves. However, liquidity seems to be fair during FY2014. Trade relations are fair. Business is active. Payment terms are slow. Subject can be considered for business dealings with some caution.

NOTES :

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

ECGC Country Risk Classification List – March 31, 2015

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

Rating Agency Name	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	Not Available

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2014.

INFORMATION PARTED BY (General Information)

Name :	Ms. Kavita
Designation :	Accountant
Contact No.:	91-172-5019403
Date :	08.05.2015

LOCATIONS

Registered office/ Warehouse :	SCO 165, Sector 38-C, Chandigarh-160036, India
Tel. No.:	91-172-5019403
Mobile No.:	91-9876310700 (Mr. Ashwani)
Fax No.:	Not Available
E-Mail :	Accts_2008@protonpharma.com casandeepkgarg@gmail.com
Website :	http://wwwproton_pharma.in
Location :	Owned

Corporate Office :	ACO.NO.228, Top Floor, Sector 40-D, Near DPS School, Chandigarh-160036, India
Tel. No.:	91-172-5019403/01/02

DIRECTORS

As on 30.09.2014

Name :

Mr. Rakesh Kumar rana

Designation :

Director

Address :

House No. 2707, Vikas Nagar, Maulijagran Vilage, Chandigarh-160102, India

Date of Appointment :

22.05.2012

DIN No.:

05283002

Name :

Mr. Ashwani Bhalla

Designation :

Director

Address :

House No 5040A, Sector 38 W, Chandigarh-160038, India

Date of Birth/Age :

16.07.1969

Date of Appointment :

22.05.2012

DIN No.:

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	U24232CH2010PTC032148	WAGNERHUBER PHARMACEUTICALS PRIVATE LIMITED	Director	12/04/2010	12/04/2010	-	Active	NO
2	U24232CH2012PTC033816	PROTON PHARMA PRIVATE LIMITED	Director	22/05/2012	22/05/2012	-	Active	NO

Name :

Mr. Arvind Kumar

Designation :

Director

Address :

House No.244, Sector 37 A, Chandigarh-160037, India

Date of Birth/Age :

06.09.1967

Date of Appointment :

22.05.2012

DIN No.:

02824223

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	U65921CH1994PTC014963	AMIT FINLEASE PRIVATE LIMITED	Director	05/03/2010	05/03/2010	-	Active	NO
2	U24232CH2010PTC032148	WAGNERHUBER PHARMACEUTICALS PRIVATE LIMITED	Director	12/04/2010	12/04/2010	-	Active	NO
3	U24232CH2012PTC033816	PROTON PHARMA PRIVATE LIMITED	Director	22/05/2012	22/05/2012	-	Active	NO

KEY EXECUTIVES

Name :	Ms. Kavita
Designation :	Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares	%age holding
Ashwani Bhalla	55000	50.00
Arvind Kumar	55000	50.00
Total	110,000	100.00

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader, Distributer and Suppliers of Pharmaceutical Medicines.

Products :	Analgesic Hormonal Drugs Nutritional Medicines MISL Medicine Range Antiallergic Drug Antibiotic Drug Cough Expectorants Health Supplements Health Supplements Oral Care Anti Allergic Drug Protein Powders Nasal Drops Conditioner and Shampoos Antimalarial Drugs Pantoprazole and Domperidone Tablet Anticold Drugd Cardiology Drugs Antifungal Drugs Antibacterial Drugs Antiacne Drugs Amoxycillin Trihydrate Dispersible Prebiotic and Probiotic Sachet Hormonal Drugs for Hospital Analgesic Drugs for Hospital Nutritional Medicines for Nursing Home

Brand Names :	Not Divulged

Agencies Held :	Not Divulged

Exports :	Not Divulged

Imports :	Not Divulged

Terms :
Selling :	Cash and Credit

Purchasing :	Cash and 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
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

End Users

Customers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

No. of Employees :

20 (Approximately)

Bankers :

Bank Name	Axis Bank
Branch	SCO 343-344, Sector 35B, Chandigarh-160022, 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

Auditors :
Name :	Gupta Anoop and Associates Chartered Accountants
Address :	Near Telephone Exchange Building, VPO, Kasauli, Dist- Salon, Barotiwala-174103, Himachal Pradesh, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAKFG7758B

Memberships :	Not Available

Collaborators :	Not Available

Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

110000	Equity Shares	Rs.10/- each	Rs.1.100 Million

As on 31.03.2014

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

710000	Equity Shares	Rs.10/- each	Rs7.100 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	7.100	0.100
(b) Reserves & Surplus	1.653	0.000
(c) Money received against share warrants	0.000	0.000

(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	8.753	0.100

(3) Non-Current Liabilities
(a) long-term borrowings	21.800	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	21.800	0.000

(4) Current Liabilities
(a) Short term borrowings	0.000	0.000
(b) Trade payables	17.098	0.000
(c) Other current liabilities	0.000	0.000
(d) Short-term provisions	1.351	0.007
Total Current Liabilities (4)	18.449	0.007

TOTAL	49.002	0.107

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	2.845	0.000
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	2.845	0.000

(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	19.730	0.000
(c) Trade receivables	23.084	0.000
(d) Cash and cash equivalents	0.964	0.080
(e) Short-term loans and advances	2.379	0.027
(f) Other current assets	0.000	0.000
Total Current Assets	46.157	0.107

TOTAL	49.002	0.107

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013
	SALES
		TOTAL SALES	NA	NA

Less	EXPENSES
		TOTAL EXPENSES	NA	NA

	PROFIT/(LOSS) BEFORE TAX		NA	NA

Less	TAX		NA	NA

	PROFIT/(LOSS) AFTER TAX		1.653	NA

	Earnings Per Share (Rs.)		15.02	NA

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars

31.03.2014

31.03.2013

Current Maturities of Long term debt

Cash generated from operations

KEY RATIOS

PARTICULARS	31.03.2014	31.03.2013

Debt Equity Ratio (Total Debt /Networth)	2.49	0.00

Current Ratio (Current Asset/Current Liability)	2.50	15.29

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Share Capital	0.100	7.100
Reserves & Surplus	0.000	1.653
Money received against share warrants	0.000	0.000
Share Application money pending allotment	0.000	0.000
Net worth	0.100	8.753

long-term borrowings	0.000	21.800
Short term borrowings	0.000	0.000
CURRENT MATURITIES OF LONG-TERM DEBTS	0.000	0.000
Total borrowings	0.000	21.800
Debt/Equity ratio	0.000	2.491

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)	No
16	No. of employees	Yes
17	Details of sister concerns	No
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	No
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last two years	No
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

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10467370	10/12/2013	19,778,000.00	AXIS BANK LIMITED	SCO 343-344, SECTOR 35B, CHANDIGARH, Chandigarh - 160022, INDIA	B92450998

FIXED ASSETS

Office Equipment
Mobile
Computer Software
Furniture and Fixture
Vehicle

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.57
UK Pound	1	Rs.99.66
Euro	1	Rs.70.92

INFORMATION DETAILS

Information Gathered by :	NYA

Analysis Done by :	SUM

Report Prepared by :	PJA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	3
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	3
--RESERVES	1~10	2
--CREDIT LINES	1~10	3
--MARGINS	-5~5
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS		NO
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		27

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

INDEX OF CHARGES

Unit