%20INTERNATIONAL%20PRIVATE%20LIMITED%2012-Apr-2007_files/image002.jpg)
MIRA
INFORM REPORT
|
Report Date : |
12.04.2007 |
IDENTIFICATION
DETAILS
|
Name : |
CLINTEC (INDIA) INTERNATIONAL PRIVATE LIMITED |
|
|
|
|
Registered Office : |
No.104, 2nd Cross Ramaiah Reddy Layout, Benson Cross Road, Benson
Town, Bangalore, Karnataka – 560046. |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
06.05.2002 |
|
|
|
|
Com. Reg. No.: |
08 – 30460 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U73100KA2002PTC030460 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
BLRC03547F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
To Provide Clinical Research Services to Pharmaceutical and Bio-Technology
Industries. |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
|
Maximum Credit Limit : |
USD 4000 |
|
|
|
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a relatively small company having satisfactory track
records. Directors are reported as experienced and respectable businessmen.
Trade relations are reported as fair. Business is active. Payments are
however reported as usually correct and as per commitments. The company can be considered for small business dealings at usual
trade terms and conditions. |
LOCATIONS
|
Registered Office : |
No.104, 2nd Cross Ramaiah Reddy Layout, Benson Cross Road, Benson
Town, Bangalore, Karnataka – 560046. |
|
Tel. No.: |
91-80-23638360 , 23545430 |
|
Fax No.: |
91-80-23545436 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
|
Name : |
Dr. Rabinder Buttar |
|
Designation : |
President and F ounder |
|
Address : |
Clintec GMBH Holtener, 53, D – 47179. Duisburg. Germany. |
|
Date of Birth/Age : |
02.07.1963 |
|
Date of Appointment : |
25.08.2003 |
|
|
|
|
Name : |
Jasvir Kaur Hameer Singh. |
|
Designation : |
Director |
|
Address : |
102, Prestige Capri 4, Benson Cross Road, Benson Town, Bangalore,
Karnataka – 560046. |
|
Date of Birth/Age : |
10.12.194 |
|
Date of Appointment : |
06.05.2002 |
|
|
|
|
Name : |
Mr. Bobby Bal |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Shamiq Hussain |
|
Designation : |
Director |
|
Address : |
104, Nagarjuna Elysees, 47 Tavis
Road, Rich Mond Town, Bangalore, Karnataka – 560084. |
|
Date of Birth/Age : |
28.09.1963 |
|
Date of Appointment : |
25.08.03 |
|
|
|
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
|
Percentage of Holding |
|
Directors or Relatives of Directors |
|
100 % |
BUSINESS DETAILS
|
Line of Business : |
To Provide Clinical Research Services to Pharmaceutical and
Bio-Technology Industries. |
GENERAL
INFORMATION
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Y Keshavayya Chartered Accountants |
|
Address : |
Sri Vinayaka Motor Service Building, No. 21/3, T S P Road,
Kalasipalyam, Bangalore, Karnataka – 560002. India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500,000 |
Equity Shars |
Rs. 10/- each |
Rs.5.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10,000 |
Equity Shares |
Rs. 10/- each |
Rs.0.100 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
0.100 |
0.100 |
|
|
2] Share Application Money |
|
0.515 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.327 |
0.117 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
0.942 |
0.217 |
|
|
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 |
0.042 |
|
|
|
|
|
|
|
|
TOTAL |
|
0.942 |
0.259 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
1.069 |
0.745 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.125 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.000 |
0.000 |
|
|
Sundry Debtors |
|
1.700 |
0.369 |
|
|
Cash & Bank Balances |
|
0.029 |
0.207 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
0.924 |
0.514 |
|
Total
Current Assets |
|
2.653 |
1.090 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
2.626 |
1.292 |
|
|
Provisions |
|
0.307 |
0.340 |
|
Total
Current Liabilities |
|
2.933 |
1.632 |
|
|
Net Current Assets |
|
(0.280) |
(0.542) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.028 |
0.056 |
|
|
|
|
|
|
|
|
TOTAL |
|
0.942 |
0.259 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
|
31.03.2006 |
|
Sales Turnover |
|
|
8.118 |
|
Total Income |
|
|
8.118 |
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
|
0.414 |
|
Provision for Taxation |
|
|
0.198 |
|
Profit/(Loss) After Tax |
|
|
0.216 |
|
|
|
|
|
|
Earnings in Foreign Currency : |
|
|
|
|
Total Earnings |
|
|
1.431 |
|
|
|
|
|
|
Expenditures : |
|
|
|
|
Total Expenditure |
|
|
7.704 |
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
|
2.66 |
N.A. |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
5.099 |
N.A. |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
(147.85) |
N.A. |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
1.90 |
N.A. |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
3.11 |
7.52 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
0.90 |
0.66 |
LOCAL AGENCY
FURTHER INFORMATION
As per website
Senior Management Team
Dr.
Rabinder Buttar, President & Founder
Dr. Rabinder Buttar founded
ClinTec International in 1997 after having worked in the pharmaceutical
and clinical research industry for over a decade. Her experience comes from
Fujisawa (Germany), Wyeth (UK) and Welcome (UK) in various roles at the grass
roots level and upwards in all aspects of clinical research, project
management, regulatory affairs, training, medical writing, business development
and management. Dr Buttar holds an Honours Degree in Biochemistry form Glasgow
University/Paisley University UK, PhD in immunology from the University of
Strathclyde UK and a Certificate in Management from the University of Reading
UK.
She is the driving force behind ClinTec International and is responsible for
the implementation of its strategic goals and objectives, giving direction and
leadership and ensuring that ClinTec International remains a highly respected
organization known for delivering the highest quality of service to its
clients. She is a member of the Board of Directors of the Institute of
Clinical Research, the key organization for the training and development of
clinical research professionals in Europe, a Member of the Institute of
Directors, London, and a Fellow of the Royal Society of Medicine in London.
Mr Bobby Bal - Director,
Corporate Development
Bobby Bal recently
joined ClinTec International after a glowing career as a Management Consultant
with Arthur Andersen and Deloitte & Touché, top global "Big 4"
professional services Firms. He ranked amongst the firms top consultants in the
UK and has been instrumental in planning and implementing many projects
including one of the largest technology projects in Europe. Bobby has a degree
in Aeronautical Engineering from the University of Glasgow, and Diploma in
Integrated Product Development from the University of Strathclyde.
Bobby is responsible for the strategic direction of the ClinTec organization,
their value proposition and markets served. Bobby also leads the development of
their internal departments, while maintaining close links as an advisor to the
Contract Research Services, Global Resourcing and Consultancy Business Units.
He has a keen interest in the development of novel technology to increase
efficiency in clinical development programmes.
Bobby has consulted for global organizations focusing on various aspects of
technology and business strategy; including British Sky Broadcasting, Aviva
Group, Halifax Bank of Scotland and Vodafone. Bobby has also worked at Ericsson
Mobile Communications as an Advanced Studies engineer in Satellite technology and
in various IT roles at Oracle Corporation.
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.87 |
|
UK Pound |
1 |
Rs.84.99 |
|
Euro |
1 |
Rs.57.55 |
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 |
5 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
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 |
|
TOTAL |
|
30 |
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|