MIRA INFORM REPORT

Report No. :	486705
Report Date :	23.02.2018

IDENTIFICATION DETAILS

Name :	DIGESTIVE SURGERY CLINIC (DSC)
Registered Office :	9B, Marquis Street, Kolkata - 700016, West Bengal
Mobile No.:	91-9681203185 [Mr. Ajit Agarwal]
Country :	India
Financials (as on) :	31.03.2017
Date of Establishment :	27.01.2016
Capital Investment :	INR 3.595 Million
IEC No.:	Not Applicable [As informed by the management that firm does not have export and import]
TIN No.:	Not Divulged
GST No.:	Not Divulged
PAN No.: [Permanent Account No.]	AALFD9904B
Legal Form :	Partnership Concern with an Unlimited Liability of the Partners
Line of Business :	Subject is passionate in the field of Gastrointestinal Surgery and Weight Reduction Surgery. [Confirmed by Management]
No. of Employees :	06 [Approximately]

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

B

Credit Rating	Explanation	Rating Comments
B	Medium Risk	Business dealings permissible on a regular monitoring basis

Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear

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

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	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 31-03-2016.

BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS

Subject’s name is not listed as a Sick Unit in the publicly available BIFR (Board for Industrial & Financial Reconstruction) list as of 23.02.2018.

IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS

Subject’s name is not listed in the publicly available IBBI (Insolvency and Bankruptcy Board of India) list as of report date.

INFORMATION PARTED BY

Name :	Mr. Ajit Agarwal
Designation :	Accountant
Contact No.:	91-9681203185
Date :	17.01.2018

LOCATIONS

Registered Office :	9B, Marquis Street, Kolkata - 700016, West Bengal, India
Tel. No.:	Not Available
Mobile No.:	91-9681203185/ 8584837133 [Mr. Ajit Agarwal] 91-9830008668 [Dr. Sarfaraz Jalil Baig]
Fax No.:	Not Available
E-Mail :	docsarfarazbaig@yahoo.co.in
Website :	http://www.digestivesurgeryclinic.com
Area :	300 Sq. Ft.
Location :	Owned
Locality:	Commercial [As per site visit]
Branch Office (Proposed) :	Eco Exquisito, 7B, Short Street, Kolkata-700017, West Bengal, India
Area :	2240 Sq. Ft.
Location :	Owned

PARTNERS

Name :	Dr. Sarfaraz Jalil Baig
Designation :	Partner
Address :	9B, Marquis Street, Kolkata-700016, West Bengal, India
Date of Birth/Age :	19.09.1970
Qualification :	MBBS, MS FRCS FIAGES
Experience :	20 Years
Aadhar No.:	344536792110
PAN No.:	AFRPB4303H
Name :	Dr. Laila Yasmin Baig
Designation :	Partner
Address :	9B, Marquis Street Kolkata-700016, West Bengal, India
Date of Birth/Age :	30.04.1974
Qualification :	MBBS
Experience :	15 Years
Aadhar No.:	328480189208
PAN No.:	AHTPB2330G

KEY EXECUTIVES

Name :	Mr. Ajit Agarwal
Designation :	Accountant

BUSINESS DETAILS

Line of Business :	Subject is Passionate in the field of Gastrointestinal Surgery and Weight Reduction Surgery. [Confirmed by Management]
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :
Selling :	Cash
Purchasing :	Cash and Credit [30 Days]

GENERAL INFORMATION

Suppliers :

Reference:	Rajnikant and Brothers
Name of the Person (Designation):	Mr. Taposh (Accountant)
Contact Number:	91-33-22483899/ 22485943
Since how long known:	2 Years
Maximum limit dealt:	INR 1.000 Million (Per Month)
Experience:	Payment Behaviour: Good Market Goodwill: Excellent Overall: Excellent
Remark	Mr. Taposh (Accountant) claimed that subject company’s payment behaviour, market goodwill is excellent and overall performance is excellent.

Customers :

Others [Medical Patients]

Reference:	Not Divulged
Name of the Person (Designation):	--
Contact Number:	--
Since how long known:	--
Maximum limit dealt:	--
Experience:	--
Remark	--

No. of Employees :

06 [Approximately]

Bankers :

Bank Name:	Vijaya Bank
Branch:	New Market Branch, 53D, Mirza Ghalib Street, Kolkata - 700016, West Bengal, India
Person Name (with Designation):	Mr. Abhishek Rajan (Branch Manager)
Contact Number:	91-33-22274611
Name of Account Holder:	DIGESTIVE SURGERY CLINIC (DSC)
Account Number:	722700301000602
Account Since (Date/ Year of A/c Opening):	2016
Average Balance Maintained (Optional):	--
Credit Facilities Enjoyed (CC/OD/Term Loan):	--
Account Operation:	Satisfactory
Remarks:	Mr. Abhishek Rajan (Branch Manager) confirmed that subject company holds a good and satisfactory track record.

Auditors :
Name :	Vikash A. Jain and Company Chartered Accountants
Address :	8/1, Lal Bazar Street, Room No.5a, 3^rd Floor, Kolkata-700001, West Bengal, India
Tel. No.:	91-33-40002746
Email:	vaj.kolkata@gmail.com
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON 31.03.2017

Particulars	INR in Million
PARTNERS CAPITAL ACCOUNTS
DR. SARAFARAZ JALIL BAIG A/C
Balance b/f	0.106
Add: Profit for the year	1.432
	-----------
	1.537
Add: Capital introduced	0.220
	-----------
Total	1.757
Dr. LAILA YASMIN BAIG A/C
Balance b/f	0.106
Add: Profit for the year	1.432
	-----------
	1.538
Add: Capital introduced	0.300
	-----------
Total	1.838
	-----------
TOTAL :	3.595

FINANCIAL ANALYSIS

[all figures are in Indian INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2017	31.03.2016
SHAREHOLDERS FUNDS
1] Capital Account		3.595	0.212
2] Reserves & Surplus		0.000	0.000
NETWORTH		3.595	0.212
LOAN FUNDS
1] Secured Loans		0.000	0.000
2] Unsecured Loans		0.000	0.000
TOTAL BORROWING		0.000	0.000
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		3.595	0.212
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.000	0.000
Capital work-in-progress		0.000	0.000
INVESTMENT		0.000	0.000
DEFERRED TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000
	Sundry Debtors	0.000	0.000
	Cash & Bank Balances	3.308	0.162
	Other Current Assets	0.000	0.000
	Loans & Advances	1.601	0.050
Total Current Assets		4.909	0.212
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.047	0.000
	Other Current Liabilities	0.000	0.000
	Provisions	1.267	0.000
Total Current Liabilities		1.314	0.000
Net Current Assets		3.594	0.212
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		3.595	0.212

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2017	31.03.2016
	SALES
		Fees Received	10.801	0.000
		Other Income	1.765	0.000
		TOTAL	12.566	0.000
Less	EXPENSES
		Purchase of consumables	5.596	0.000
		Electricity expenses	0.000	0.000
		Salary	0.075	0.000
		Operation theatre expenses	0.647	0.000
		Audit fees	0.010	0.000
		Legal and professional fees	0.035	0.000
		Printing and stationery	0.100	0.003
		Trade license fees	0.001	0.001
		Accounting charges	0.036	0.000
		Subscription	0.090	0.000
		Travelling expenses	0.281	0.000
		Marketing expenses	0.145	0.000
		Professional development	1.418	0.010
		Partnership formation expenses	0.000	0.010
		General expenses	0.000	0.004
		TOTAL	8.434	0.028
	PROFIT/ (LOSS) BEFORE INTEREST, DEPRECIATION AND AMORTISATION		4.132	(0.028)
Less	FINANCIAL EXPENSES		0.001	0.000
	PROFIT/ (LOSS) BEFORE DEPRECIATION AND AMORTISATION		4.131	(0.028)
Less/ Add	DEPRECIATION/ AMORTISATION		0.000	0.000
	PROFIT/ (LOSS) BEFORE TAX		4.131	(0.028)
Less	TAX		1.268	0.000
	PROFIT/ (LOSS) AFTER TAX		2.863	(0.028)

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016
Average Collection Days (Sundry Debtors / Income * 365 Days)	0.00	0.00
Account Receivables Turnover (Income / Sundry Debtors)	0.00	0.00
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	3.07	0.00
Inventory Turnover (Operating Income / Inventories)	0.00	0.00
Asset Turnover (Operating Income / Net Fixed Assets)	0.00	0.00

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.27	0.00
Debt Equity Ratio (Total Liability / Networth)	0.00	0.00
Current Liabilities to Networth (Current Liabilities / Net Worth)	0.37	0.00
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.00	0.00
Interest Coverage Ratio (PBIT / Financial Charges)	4132.00	0.00

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016
Net Profit Margin ((PAT / Sales) * 100)	%	26.51	0.00
Return on Total Assets ((PAT / Total Assets) * 100)	%	58.32	(13.21)
Return on Investment (ROI) ((PAT / Networth) * 100)	%	79.64	(13.21)

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016
Current Ratio (Current Assets / Current Liabilities)	3.74	0.00
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	3.74	0.00
G-Score Ratio Financial (Networth / Total Assets)	0.73	1.00
G-Score Ratio Debt (Debts / Equity Capital)	0.00	0.00
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	3.74	0.00

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

FINANCIAL ANALYSIS

[all figures are in INR Million]

DEBT EQUITY RATIO

Particular	31.03.2016	31.03.2017
	INR In Million	INR In Million
Partners’ Capital	0.212	3.595
Reserves & Surplus	0.000	0.000
Net worth	0.212	3.595
Secured Loans	0.000	0.000
Unsecured Loans	0.000	0.000
Total borrowings	0.000	0.000
Debt/Equity ratio	0.000	0.000

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2016	31.03.2017
	INR In Million	INR In Million
Fees Received	0.000	10.801

NET PROFIT MARGIN

Net Profit Margin	31.03.2016	31.03.2017
	INR In Million	INR In Million
Fees Received	0.000	10.801
Profit/(Loss)	(0.028)	2.863
		26.51%

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	Yes
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	Yes
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	Yes
19	Major customers	Yes
20	Banking Details	Yes
21	Banking facility details	No
22	Conduct of the banking account	Yes
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 two 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

------------------------------------------------------------------------------------------------------------------------------

OBSERVATION POINTS

Name of Company :	DIGESTIVE SURGERY CLINIC
Address :	9B, Marquis Street, Kolkata - 700016, West Bengal, India
Person to whom we met:	Security Guard
Name Board :	Not Sighted
Location:	Easy
Landmark (If Any):	Behind Neotia Hospital
Total Floors of the Building :	7 Floors
Subject situated on:	7th Floor
Locality:	Commercial
Area :	Upmarket
Proof of visit:	Photos

------------------------------------------------------------------------------------------------------------------------------

DIGESTIVE SURGERY CLINIC (DSC)

PROVISIONAL BALANCE SHEET

[INR IN MILLION]

SOURCES OF FUNDS		31.03.2019	31.03.2018
SHAREHOLDERS FUNDS
1] Capital Account		29.776	27.860
2] Reserves & Surplus		0.000	0.000
NETWORTH		29.776	27.860
LOAN FUNDS
1] Secured Loans		37.500	20.000
2] Unsecured Loans		0.000	0.000
TOTAL BORROWING		37.500	20.000
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		67.276	47.860
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		54.777	34.854
Capital work-in-progress		0.000	0.000
INVESTMENT		0.000	0.000
DEFERRED TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	2.100	1.260
	Sundry Debtors	0.000	0.000
	Cash & Bank Balances	12.899	11.746
	Other Current Assets	0.000	0.000
	Loans & Advances	0.859	1.647
Total Current Assets		15.858	14.653
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000	0.000
	Other Current Liabilities	2.500	0.000
	Provisions	0.859	1.647
Total Current Liabilities		3.359	1.647
Net Current Assets		12.499	13.006
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		67.276	47.860

------------------------------------------------------------------------------------------------------------------------------

DIGESTIVE SURGERY CLINIC (DSC)

PROVISIONAL PROFIT AND LOSS ACCOUNT

[INR IN MILLION]

	PARTICULARS		31.03.2019	31.03.2018
	SALES
		Fees Received	23.075	13.055
		Other Income	2.125	2.065
		TOTAL	25.200	15.120
Less	EXPENSES
		Purchase of consumables	10.080	6.048
		Electricity expenses	0.630	0.360
		Salary	1.459	0.600
		Operation theatre expenses	0.620	0.588
		Audit fees	0.012	0.012
		Legal and professional fees	0.070	0.036
		Printing and stationery	0.183	0.082
		Trade license fees	0.001	0.001
		Accounting charges	0.036	0.036
		Subscription	0.140	0.085
		Travelling expenses	0.343	0.326
		Marketing expenses	0.478	0.145
		Professional development	2.329	1.329
		TOTAL	16.381	9.648
	PROFIT/ (LOSS) BEFORE INTEREST, DEPRECIATION AND AMORTISATION		8.819	5.472
Less	FINANCIAL EXPENSES		2.730	0.152
	PROFIT/ (LOSS) BEFORE DEPRECIATION AND AMORTISATION		6.089	5.320
Less/ Add	DEPRECIATION/ AMORTISATION		3.315	0.000
	PROFIT/ (LOSS) BEFORE TAX		2.774	5.320
Less	TAX		0.858	1.647
	PROFIT/ (LOSS) AFTER TAX		1.916	3.673

------------------------------------------------------------------------------------------------------------------------------

COMPUTATION OF TOTAL INCOME

DR. LAILA YASMIN BAIG

(INR IN MILLION)

Particulars	31.03.2017
INCOME FROM BUSINESS AND PROFESSION		3.592
Less: Considered under other heads of Income:
Income from other sources		0.045
		------------
		3.548
Less: Profit from partnership business		1.432
		------------
		2.116
Less: Profit from partnership business: DSC	1.432
Less: Exempt u/s 10(2A0	1.432
	------------	0.000
		2.116
Total income from business & profession		------------	2.116
INCOME FROM OTHER SOURCES
Interest on savings bank	0.021
Dividend income	0.000
Less: Exempt u/s 10(11)	0.000
	0.000
Interest from PPF	0.023
Less: Exempt u/s 10(11)	0.023
	------------	0.021
Total income from o/s		------------	0.021
			------------
GROSS TOTAL INCOME			2.137
LESS: DEDUCTION UNDER CHAPTER VI A
DEDUCTION U/S 80C
LIC ICICI prudential	0.050
LIC-LICI	0.038
PPF	0.050
School fees	0.131
	------------
	0.270
Restricted to		0.150
Deduction u/s 80 TTA bank interest	0.021
Restricted to		0.010
Total deduction		------------	0.160
Taxable income			1.977
			------------
Rounded off			1.977
TAX LIABILITY
Income tax	0.418
Add: Education cess & SHEC @3%	0.013
	------------
Tax liability	0.431
Add: Interest u/s 234B	0.011
Add: Interest u/s 234B	0.015
	------------	0.457
Less: Advance tax	0.160
TDS	0.086
	------------	0.246
		------------
TAX PAYABLE			0.211
Round off			0.211
Less: Self-assessment tax paid			0.211
			------------
TAX PAYABLE			0.000

BALANCE SHEET

(INR IN MILLION)

SOURCES OF FUNDS		31.03.2017	31.03.2016	31.03.2015
SHAREHOLDERS FUNDS
1] Capital Account		6.612	3.765	3.562
2] Reserves & Surplus		0.000	0.000	0.000
NETWORTH		6.612	3.765	3.562
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		0.000	0.000	0.000
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		6.612	3.765	3.562
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2.396	2.450	2.511
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		2.053	0.321	0.215
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.189	0.053	0.000
	Cash & Bank Balances	1.390	0.623	0.611
	Other Current Assets	0.000	0.300	0.210
	Loans & Advances	0.246	0.020	0.015
Total Current Assets		2.163	0.996	0.836
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000	0.000	0.000
	Other Current Liabilities	0.000	0.000	0.000
	Provisions	0.000	0.000	0.000
Total Current Liabilities		0.000	0.000	0.000
Net Current Assets		0.000	0.000	0.000
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		6.612	3.765	3.562

PROFIT AND LOSS ACCOUNT

(INR IN MILLION)

	PARTICULARS		31.03.2017	31.03.2016	31.03.2015
	SALES
		Professional Fees	2.600	1.444	0.787
		Other Income	1.476	0.041	0.035
		TOTAL	4.076	1.485	0.822
Less	EXPENSES
		Accounting charges	0.024	0.024	0.000
		Books & periodicals	0.011	0.009	0.004
		Printing and stationery	0.015	0.013	0.009
		Staff salary & bonus	0.195	0.168	0.052
		Staff welfare expenses	0.016	0.014	0.000
		Telephone charges	0.010	0.017	0.017
		Travelling & conveyance	0.111	0.099	0.073
		Repairs & maintenance	0.024	0.030	0.010
		Legal & professional charges	0.009	0.003	0.003
		General expenses	0.016	0.014	0.012
		Loss from partnership	0.000	0.014	0.000
		TOTAL	0.431	0.405	0.180
	PROFIT/ (LOSS) BEFORE INTEREST, DEPRECIATION AND AMORTISATION		3.645	1.080	0.642
Less	FINANCIAL EXPENSES		0.000	0.000	0.000
	PROFIT/ (LOSS) BEFORE DEPRECIATION AND AMORTISATION		3.645	1.080	0.642
Less/ Add	DEPRECIATION/ AMORTISATION		0.053	0.063	0.074
	NET PROFIT/ (LOSS)		3.592	1.017	0.568

------------------------------------------------------------------------------------------------------------------------------

COMPUTATION OF TOTAL INCOME

DR. SARFARAZ JALIL BAIG

(INR IN MILLION)

Particulars	31.03.2017
PROFIT & GAINS OF BUSINESS PROFESSION
Net profit as per profit & loss account		13.859
Less: Considered under other heads of income		2.283
		-----------
		11.575
Add: Considered under other heads of Income		0.000
		-----------
		11.575
Share of profit from firm	1.432
Less: Exempt u/s 10	1.432
	-----------
	0.000
Total income under PGBP			11.575
INCOME FROM OTHER SOURCES
Interest on saving bank a/c		0.106
Sale of book		0.008
Interest from PPF	0.106
Less: Exempt u/s 10(11)	0.106
	-----------
		0.000
Dividend income	0.003
Less: Exempt u/s 10(34)	0.003
	-----------	0.000
Accrued interest on Vijay Shree Units & fixed deposits		0.569
		-----------
Total income under o/s			0.743
			-----------
GROSS TOTAL INCOME			12.318
Less: Deduction under chapter VI A
Deduction u/s 80C
Home loan-principal repayment	0.000
Life insurance premium	0.161
PPF contribution	0.150
	-----------
	0.311
Limited to		0.150
Deduction u/s 80D: Medical insurance premium	0.000
Maximum limit		0.000
Deduction u/s 80TTA: Saving bank interest	0.166
Maximum limit		0.010
		-----------	0.160
			-----------
Taxable income			12.158
			-----------
Rounded off			12.158
Tax liability
Basic tax	3.472
Add: Surcharge@15% for taxable income above INR 10.000 million	0.521
	-----------
For taxable income above INR 10.000 Million	3.993
For taxable income cess@3%	0.120
	-----------
Total Tax		4.113
Less: Advance tax	0.600
TDS	1.629
	-----------	2.229
		-----------
TAX PAYABLE		1.884
Add: interest u/s 234B		0.132
Add: interest u/s 234C		0.110
		-----------
		2.126
Tax payable rounded off			2.126
Less: Self-assessment tax paid			0.000
TAX PAYABLE			2.126

BALANCE SHEET

(INR IN MILLION)

SOURCES OF FUNDS		31.03.2017	31.03.2016	31.03.2015
SHAREHOLDERS FUNDS
1] Capital Account		34.938	24.156	19.033
2] Reserves & Surplus		0.000	0.000	0.00
NETWORTH		34.938	24.156	19.033
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		0.000	0.000	0.000
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		34.938	24.156	19.033
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		8.681	8.752	8.843
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		5.454	2.782	2.371
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	2.232	1.563	0.903
	Cash & Bank Balances	6.313	4.560	2.369
	Other Current Assets	12.248	6.515	5.764
	Loans & Advances	0.600	0.500	0.510
Total Current Assets		21.393	13.138	9.546
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.590	0.516	0.249
	Other Current Liabilities	0.000	0.000	0.000
	Provisions	0.000	0.000	1.478
Total Current Liabilities		0.590	0.516	1.727
Net Current Assets		20.803	12.622	7.819
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		34.938	24.156	19.033

PROFIT AND LOSS ACCOUNT

(INR IN MILLION)

	PARTICULARS		31.03.2017	31.03.2016	31.03.2015
	SALES
		Consultancy Fees	17.360	12.934	9.120
		Other Income	2.281	0.737	1.437
		TOTAL	19.641	13.671	10.557
Less	EXPENSES
		Accounting charges	0.036	0.036	0.036
		Anaesthesia charges	0.000	0.000	0.011
		Apex insurance premium	0.000	0.004	0.004
		Annual membership	0.014	0.000	0.016
		Assistant charges	0.000	0.000	0.018
		Audit fees	0.010	0.010	0.010
		Chamber rent	0.183	0.164	0.163
		Discount	0.000	0.000	0.068
		Legal & professional charges	0.024	0.000	0.000
		Professional charges	0.000	0.004	0.004
		Marketing expenses	0.829	0.858	0.637
		Mediclaim staff	0.008	0.007	0.007
		Membership fess	0.000	0.000	0.006
		Mobile & telephone	0.022	0.036	0.030
		Motor car insurance	0.000	0.011	0.000
		Newspaper & periodicals	0.014	0.010	0.004
		Printing & stationery	0.015	0.064	0.128
		Professional development	3.018	3.506	2.587
		Professional indemnity insurance	0.021	0.016	0.014
		Purchase of instrument	0.000	0.596	0.061
		Purchase of consumables	0.133	0.000	0.000
		Repairs and maintenance	0.003	0.012	0.025
		Service charges - CMRI	0.000	0.000	0.007
		Staff salaries	0.294	0.273	0.277
		Subscription	0.026	0.105	0.055
		Tea & refreshment	0.051	0.059	0.008
		Travelling expenses	0.589	0.129	0.124
		Car running & maintenance	0.176	0.000	0.000
		General expenses	0.140	0.000	0.000
		Freight	0.032	0.000	0.000
		Operation theatre expenses	0.070	0.000	0.000
		Loss from partnership	0.000	0.014	0.000
		TOTAL	5.708	5.914	4.300
	PROFIT/ (LOSS) BEFORE INTEREST AND DEPRECIATION AND AMORTISATION		13.933	7.757	6.257
Less	FINANCIAL EXPENSES		0.003	0.013	0.008
	PROFIT/ (LOSS) BEFORE DEPRECIATION AND AMORTISATION		13.930	7.744	6.249
Less/ Add	DEPRECIATION/ AMORTISATION		0.071	0.091	0.116
	NET PROFIT/ (LOSS)		13.859	7.653	6.133

------------------------------------------------------------------------------------------------------------------------------

COST OF PROJECT

(INR IN MILLION)

Particulars	Amount
Land & site development cost
Building & civil cost	41.664
Plant & machinery cost	11.323
Miscellanea fixed assets cost	5.105
Preliminary & pre-operative cost	0.500
Contingencies	1.000
Margin for working capital	1.000
TOTAL COST OF PROJECT	60.592

------------------------------------------------------------------------------------------------------------------------------

MEANS OF FINANCE

(INR IN MILLION)

Particulars	Amount
Promoter contribution	20.592
Term loan	40.000
TOTAL COST OF PROJECT	60.592

------------------------------------------------------------------------------------------------------------------------------

COMPUTATION OF DCSR

(INR IN MILLION)

Particulars	OPERATING YEARS
	31.03.2018 [Estimated]	31.03.2019 [Projected]	31.03.2020 [Projected]	31.03.2021 [Projected]	31.03.2022 [Projected]	31.03.2023 [Projected]
PAT	3.674	1.916	0.175	1.761	3.164	4.738
Add: Depreciation	0.000	3.315	6.237	5.500	4.853	4.285
Add: Interest	0.152	2.730	3.526	3.299	3.071	2.844
Total (A)	3.825	7.961	9.939	10.560	11.088	11.868
Installment Repayment	0.000	0.000	2.500	2.500	2.500	2.500
Interest payment	0.152	2.730	3.526	3.299	3.071	2.844
Total (B)	0.152	2.730	6.026	5.799	5.571	5.344
DSCR (A/B)	25.22	2.92	1.65	1.82	1.99	2.22
Average DSCR	2.41

------------------------------------------------------------------------------------------------------------------------------

ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

OPERATING STATEMENT

(INR IN MILLION)

PARTICULARS	OPERATING YEARS
	31.03.2018 [Estimated]	31.03.2019 [Projected]	31.03.2020 [Estimated]	31.03.2021 [Projected]	31.03.2022 [Projected]	31.03.2023 [Projected]
SALES:
Domestic Sales	15.120	25.200	27.720	30.492	33.541	36.895
Export Sales:	--	--	--	--	--	--
Other Income	--	--	--	--	--	--
Excise duty	--	--	--	--	--	--
Net Sales	15.120	25.200	27.720	30.492	33.541	36.895
Export Incentives:	--	--	--	--	--	--
%age rise in Net Sales over last year	20.32	66.67	10.00	10.00	10.00	10.00
OPERATING COSTS:
Purchase	6.048	10.080	11.088	12.197	13.416	14.758
Other RM Consumed	--	--	--	--	--	--
Stores & Spares	--	--	--	--	--	--
Total Raw Material Consumed:	6.048	10.080	11.088	12.197	13.416	14.758
Repairs & maintenance/carriage inward	--	--	--	--	--	--
Power & Fuel	0.360	0.630	0.662	0.695	0.729	0.766
Direct Labour	1.080	1.890	1.985	2.084	2.188	.2297
Packaging cost	--	--	--	--	--	--
Other manufacturing costs	0.108	0.189	0.198	0.208	0.219	0.230
Depreciation	0.000	3.315	6.237	5.500	4.853	4.285
SUB-TOTAL	7.596	16.104	20.170	20.683	21.405	22.336
Add Opening stock of WIP etc.	--	--	--	--	--	--
Less Closing stock of WIP etc.	--	--	--	--	--	--
TOTAL MANUFACTURING COST	7.596	16.104	20.170	20.683	21.405	22.336
Add Opening Stock of Finished Goods	--	--	--	--	--	--
Less Closing Stock of Finished Goods	--	--	--	--	--	--
COST OF SALES	7.596	16.104	20.170	20.683	21.405	22.336
Administrative & General expenses	0.252	0.441	0.463	0.486	0.511	0.536
Selling & other expenses	1.800	3.150	3.308	3.473	3.647	3.829
SUB-TOTAL	9.648	19.695	23.940	24.642	25.562	26.701
Operating profit before interest	5.472	5.505	3.780	5.850	7.979	10.194
Interest	0.150	2.730	3.526	3.299	3.071	2.844
Operating Profit after Interest	5.320	2.775	0.253	2.551	4.908	7.350
Net other income	--	--	--	--	--	--
Preliminary expenses/Loss adjusted	--	--	--	--	--	--
Profit Before Tax (PBT)	5.320	2.775	0.253	2.551	4.908	7.350
Provision for Taxes	1.647	0.859	0.078	0.790	1.744	2.612
Net Profit after tax (PAT)	3.674	1.916	0.175	1.761	3.164	4.738
Add previous years' adjustments (+)	--	--	--	--	--	--
Less previous years' adjustments (-)	--	--	--	--	--	--
Appropriations (equity dividend)	--	--	--	--	--	--
Retained Profit	3.674	1.916	0.175	1.761	3.164	4.738

------------------------------------------------------------------------------------------------------------------------------

ANALYSIS OF BALANCE SHEET

(INR IN MILLION)

Particulars	OPERATING YEARS
	31.03.2018 [Estimated]	31.03.2019 [Projected]	31.03.2020 [Estimated]	31.03.2021 [Projected]	31.03.2022 [Projected]	31.03.2023 [Projected]
CURRENT LIABILITIES
Short Term borrowings from Banks (incl. Bills Purchased/discounted & Excess borrowings placed on repayment basis
I) From Applicant Bank:	0.000	0.000	0.000	0.000	0.000	0.000
ii) From Other Banks	0.000	0.000	0.000	0.000	0.000	0.000
TOTAL BANK BORROWINGS	0.000	0.000	0.000	0.000	0.000	0.000
Short Term Borrowings	--	--	--	--	--	--
Deposits (maturing within 1 year)	--	--	--	--	--	--
Sundry Creditors (Trade)	--	--	--	--	--	--
Creditors for labour	--	--	--	--	--	--
Advance Payment from Customers	--	--	--	--	--	--
Interest & Other Charges Accrued	--	--	--	--	--	--
Provision (All)	--	--	--	--	--	--
Dividend Payable	--	--	--	--	--	--
Creditors for expenses	--	--	--	--	--	--
Other Statutory Liabilities	1.647	0.859	0.078	0.790	1.744	2.612
Loan installment due within 1 year	0.000	2.500	2.500	2.500	2.500	2.500
Other Current Liabilities	--	--	--	--	--	--
SUB TOTAL (B)	1.647	3.359	2.578	3.290	4.244	5.112
TOTAL CURRENT LIABILITIES	1.647	3.359	2.578	3.290	4.244	5.112
TERM LIABILITIES
Secured Loans	--	--	--	--	--	--
Fixed deposits from dealers	--	--	--	--	--	--
Debentures/ Preference shares	--	--	--	--	--	--
maturing > 1 year < 12 yrs.
Term Loans (excluding installments payable within 1 yr)	37.500	35.000	35.000	32.500	30.000	27.500
Sales tax loan (exclu. installments due within 1 year)	--	--	--	--	--	--
Unsecured Loan (Others)	--	--	--	--	--	--
Unsecured loans (directors/relatives)	--	--	--	--	--	--
Other Term Liabilities	0.000	--	--	--	--	--
TOTAL TERM LIABILITIES	20.000	37.500	35.000	32.500	30.000	27.500
TOTAL OUTSIDE LIABILITIES	21.647	40.859	37.578	35.790	34.244	32.612
NET WORTH
Paid up capital	24.187	24.187	24.187	24.187	24.187	24.187
Share Application Money/less LIC Paid	--	--	--	--	--	--
General Reserve	--	--	--	--	--	--
Share Premium/Drawings	--	--	--	--	--	--
Other Reserve	--	--	--	--	--	--
Surplus in P & L A/c	3.674	5.590	5.764	7.526	10.690	15.428
NET WORTH	27.861	29.777	29.951	31.713	34.876	39.615
Deferred Tax Liability	--	--	--	--	--	--
TOTAL LIABILITIES	49.507	70.635	67.530	67.502	69.120	72.227
ASSETS
CURRENT ASSETS
Cash & Bank Balance	11.745	12.900	13.287	11.579	11.342	12.733
Investments (other than long term)	--	--	--	--	--	--
Govt. & Other Trustee Secu.	--	--	--	--	--	--
Fixed Deposits with Banks	--	--	--	--	--	--
I) Receivables (including Exports)	--	--	--	--	--	--
ii) Export Receivables (including bills purchased & discounted)	--	--	--	--	--	--
Installment of Deferred Receivables	--	--	--	--	--	--
Inventory
Raw Materials	1.260	2.100	2.310	2.541	2.795	3.075
WIP	--	--	--	--	--	--
Packing materials	--	--	--	--	--	--
Finished Goods	--	--	--	--	--	--
Stores & Spares	--	--	--	--	--	--
Advances to Suppliers	--	--	--	--	--	--
Advance payment of taxes	1.647	0.859	0.078	0.790	1.744	2.612
Other current assets	--	--	--	--	--	--
Advance payment to creditors	--	--	--	--	--	--
TOTAL CURRENT ASSETS	14.652	15.858	15.675	14.910	15.881	18.420
FIXED ASSETS
Gross Block (L/B/P/M etc.)	34.855	58.092	58.092	58.092	58.092	58.092
Capital work in progress	--	--	--	--	--	--
Depreciation to date	0.000	3.315	6.237	5.500	4.853	4.285
Net Block	34.855	54.777	51.855	52.592	53.239	53.807
OTHER NON CURRENT ASSETS
Investment/book debts/advance/deposit which are not current assets
I) a) Investments in subsidiaries	--	--	--	--	--	--
b) Others	--	--	--	--	--	--
ii) Advances to suppliers of cap. Goods & Contractors	--	--	--	--	--	--
iii) Deferred Receivables debtors pending 6 months (avg 8%)	--	--	--	--	--	--
Other non-current assets (Suspense)	--	--	--	--	--	--
TOTAL NON-CURRENT ASSETS	0.000	0.000	0.000	0.000	0.000	0.000
Intangible Assets (Pre. exp., B&D Debts Loss	--	--	--	--	--	--
TOTAL ASSETS	49.507	70.635	67.530	67.502	69.120	72.227
TANGIBLE NET WORTH	27.861	29.777	29.951	31.713	34.876	39.615
NET WORKING CAPITAL	13.005	12.500	13.097	11.620	11.637	13.308
CURRENT RATIO	8.90	4.72	6.08	4.53	3.74	3.60
TOL:TNW RATIO	0.78	1.37	1.25	1.13	0.98	0.82
TERM DER	0.72	1.26	1.17	1.02	0.86	0.69
QUASI DER	0.78	1.37	1.25	1.13	0.98	0.82

------------------------------------------------------------------------------------------------------------------------------

COMPUTATION OF MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL

(INR IN MILLION)

PARTICULARS	OPERATING YEARS
	31.03.2018 [Estimated]	31.03.2019 [Projected]	31.03.2020 [Projected]	31.03.2021 [Projected]	31.03.2022 [Projected]	31.03.2023 [Projected]
Total Current Assets	14.652	15.858	15.675	14.910	15.881	18.420
Current liabilities other than bank	1.647	0.859	0.078	0.790	1.744	2.612
Working capital gap ( a-b)	13.005	15.000	15.597	14.120	14.137	15.808
Minimum working capital ( 25 % of a)	3.663	3.965	3.919	3.727	3.970	4.605
Actual/ projected working capital	13.005	12.500	13.097	11.620	11.637	13.308
c-d	9.342	11.035	11.678	10.393	10.167	11.203
c-e	0.000	2.500	2.500	2.500	2.500	2.500
MPBF (Lower of f & g)	0.000	2.500	2.500	2.500	2.500	2.500
Excess borrowings, if any	0.000	0.000	0.000	0.000	0.000	0.000

------------------------------------------------------------------------------------------------------------------------------

PERFORMANCE AND FINANCIAL INDICATORS

(INR IN MILLION)

Particulars	31.03.2018 [Estimated]	31.03.2019 [Projected]	31.03.2020 [Projected]	31.03.2021 [Projected]	31.03.2022 [Projected]	31.03.2023 [Projected]
Paid Up Capital	24.187	24.187	24.187	24.187	24.187	24.187
Equity	24.187	24.187	24.187	24.187	24.187	24.187
Preference shares	0.000	0.000	0.000	0.000	0.000	0.000
TNW (Excl.rev.res & intangible assets)	27.861	29.777	29.951	31.713	34.876	39.615
Investments in Subsidiaries	0.000	0.000	0.000	0.000	0.000	0.000
Adjusted TNW	27.861	29.777	29.951	31.713	34.876	39.615
Capital employed *****	47.861	67.277	64.951	64.213	64.876	67.115
Net Block	34.855	54.777	51.855	52.592	53.239	53.807
Net Sales	15.120	25.200	27.720	30.492	33.541	36.895
Domestic	15.120	25.200	27.720	30.492	33.541	36.895
Exports	0.000	0.000	0.000	0.000	0.000	0.000
Other income	0.000	0.000	0.000	0.000	0.000	0.000
PBDITA / EBDITA	5.472	8.820	10.017	11.349	12.832	14.480
Interest	0.152	2.730	3.526	3.299	3.071	2.844
PBDT	5.320	6.090	6.491	8.051	9.760	11.636
Depreciation	0.000	3.315	6.237	5.500	4.853	4.285
Taxes	1.647	0.859	0.078	0.790	1.744	2.612
PAT (NET PROFIT)	3.674	1.916	0.175	1.761	3.164	4.738
Cash accruals	3.674	5.231	6.412	7.261	8.017	9.024
Net Profit/capital employed (%)	7.68	2.85	0.27	2.74	4.88	7.06
Current assets	14.652	15.858	15.675	14.910	15.881	18.420
Current Liabilities	1.647	3.359	2.578	3.290	4.244	5.112
NWC	13.005	12.500	130.97	116.20	116.37	133.08
RATIOS:
Current Ratio	8.90	4.72	6.08	4.53	3.74	3.60
Debt/Equity Ratio	--	--	--	--	--	--
TOL:TNW Ratio	0.78	1.37	1.25	1.13	0.98	0.82
Term Liabilities/TNW Ratio	0.72	1.26	1.17	1.02	0.86	0.69
Profitability % (PAT/ Net sales)	24.30	7.60	0.63	5.78	9.43	12.84
DSCR
Company as a whole	--	--	--	--	--	--
For specific TL (Average)	--	--	--	--	--	--
Interest coverage Ratio	25.22	2.92	2.82	3.20	3.61	4.17
Inventory + Receivables / Sales %	8.33	8.33	8.33	8.33	8.33	8.33

------------------------------------------------------------------------------------------------------------------------------

NETWORTH STATEMENT

DR. SARFARAZ JALIL BAIG (PARTNER)

(INR IN MILLION)

Particulars	31.03.2017
Fixed assets	8.681
Add: Investment in equity shares & debenture	0.084
Add: Investments in fixed deposits & PPF	14.232
Add: Investments in partnership: DSC	1.757
Add: Sunday debtors	2.232
Add: TDS & advance tax	2.229
Add: Cash in hand & at bank	6.313
Less: Sundry creditors	0.590
	--------------
NET WORTH	34.938

------------------------------------------------------------------------------------------------------------------------------

NETWORTH STATEMENT

DR. LAILA YASMIN BAIG (PARTNER)

(INR IN MILLION)

Particulars	31.03.2017
Fixed assets: Residential Flats	1.828
Add: Furniture & fixture	0.245
Add: Medical instruments	0.021
Add: Motor car	0.302
Add: Investment in equity shares & debenture	0.215
Add: Investments in PPF	0.338
Add: Investments in partnership: DSC	1.838
Add: Sunday debtors	0.189
Add: TDS & advance tax	0.246
Add: Cash in hand & at bank	1.390
Less: Sundry Creditors	0.000
	--------------
NET WORTH	6.612

------------------------------------------------------------------------------------------------------------------------------

COMPANY PROFILE

The company is a partnership firm of Dr. Sarfaraz Jalil Baia and Dr. LaiIa Yasmin Baig. Digestive Surgery Clinic (DSC) is a body of dedicated doctors, who are passionate in the field of gastrointestinal surgery with special interest on weight loss science. To deliver obesity related services, we have trained people comprising of nutritionists, lifestyle coach, physical trainer and bariatric surgeons who are committed to scientific analysis of diverse claims and belief on method of weight loss. They are here to drown the noise of irrational and unscientific practices with the voice of reason and sanity! They are here to help you choose well and practice methods that have a foothold on evidence.

SERVICES OFFERED:

· Laparoscopic Surgery

· Gall Bladder Surgery

· Hernia Surgery

· Obesity & Diabetic Surgery

· Gastrointestinal Cancer Surgery

· Colorectal Surgery

· Anorectal Surgery

· Liver Surgery

· Pancreatic Surgery

· Training Program for Doctors which includes Bariatric Nutrition Course, Bariatric Nutrition Internship, AWR Training

· Weight Loss Management Program.

SWOT ANALYSIS

Obesity in India has reached epidemic proportions in the 21st century, with morbid obesity affecting 5% of the country's population. India is following a trend of other developing countries that are steadily becoming more obese. Unhealthy, processed food has become much more accessible following India's continued integration in global food markets. This, combined with rising middle class incomes, is increasing the average caloric intake per individual among the middle class and above income households. Obesity is a major risk factor for cardiovascular disease, NGOs such as the Indian Heart Association have been raising awareness about this issue. Obesity is rapidly becoming a worldwide epidemic, with significant consequences in terms of clinical burden and economic costs in treating its complications, so effective new approaches are urgently needed. Obesity and its consequences are set to become one of the most important health care issues of the next few decades. Obesity has been linked to a host of illnesses including diabetes, cardiovascular disease and breathing disorders. India saw a more significant rise in obesity from its 19th position for both men and women in 1975 to rankings 5th and 3rd respectively in 2014, reflecting increasing obesity rates among women worldwide.

Keeping in mind the above scenario of Obesity and its disastrous effect on human beings, Digestive Surgery Clinic (DSC) is planning to open a dedicated clinic to cater to the needs of obese people of India. For opening of this dedicated clinic, the partnership firm is in requirement of Funds. Details of funds required are as under.

TERM LOAN

Building including Stamp Duty	INR 41.464 Million
Plant & Machine	INR 10.000 Million
Furniture & Fixture	INR 5.000 Million
Total Fund Required	INR 56.464 Million
Less: Promoter's Contribution	INR 16.464 Million
Term Loan Required	INR 40.000 Million

The revenues of the firm shall be generated by providing medical consultancy patients, performing various types of Endoscopic and lapfðscop1©Šurgery , various weight 10" management programs and sale of Supplements to patients. Details as under:

ESTIMATED REVENUES:

Working Days: 25 Days a month

No. of patient per day: 5

Total No. of patients in a month: 25*5=125

Out of the above 125 patients, the following no. patients will take the following consultations (estimated)

Numbers of patients	Type of consultations	Rate per type of consultation (INR In Million)	Amount
10	Online nutrition course (3 months program)	0.030	0.300
5	Endoscopic balioon	0.150	0.750
2	Bariatric surgery	0.200	0.400
25	Nutrition supplements	0.005	0.125
2	Liposuction and tummy tuck surgery	0.200	0.400
125	Consultation fees	0.001	0.125
			-------------
TOTAL REVENUE P.M.			2.100
TOTAL REVENUE P.A.			25.200

ESTIMATED EXPENSES

	INR in Million
Purchases of supplements and consumables p. m	0.840
Salary @INR 15000 p. m for 10 persons	0.150
Advertisement p. m	0.250
Electricity expenses per month	0.050
Printing & stationery per month	0.005
Administrative expenses per month	0.030
Other miscellaneous expenses p. m	0.015
	-------------
Total Expenses p. m	1.340
TOTAL EXPENSES FOR THE YEAR	16.080

Net profit for the year: INR 9.120 Million (Before interest and depreciation and income tax)

Less: Depreciation	3.208
Less: Interest @10%	4.000
	----------
Profit before tax	1.912
Less: Income tax	0.591
	----------
PROFIT AFTER TAX	1.321

------------------------------------------------------------------------------------------------------------------------------

VALUATION REPORT

(GENERAL DETAILS)

Name of the Owners	DR. SARFARAZ JALIL BAIG AND DR. LAILA YASMIN BAIG
Date on which the valuation is made	30.12.2017
Location, street, ward no.	K.M.C Premises No.7B, Short Street, P.S-Shakespeare Sarani, within K.M.C Ward No.63, Kolkata-700017, West Bengal, India

Total Value of property	INR 45.994 Million
Cost Price Value	INR 41.464 Million
Forced Sale Value / Distress Sale Value	INR 36.800 Million
Government Registration Value	INR 44.442 Million
Rental Value	INR 0.120 Million to INR 0.130 Million (Per Month approximately (after Completion)

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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 records 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	INR
US Dollar	1	INR 65.05
UK Pound	1	INR 90.41
Euro	1	INR 79.83

INFORMATION DETAILS

Information Gathered by :	PNM
Analysis Done by :	PRS
Report Prepared by :	ARC

SCORE FACTORS

DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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.