MIRA
INFORM REPORT
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Report Date : |
10.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
NUTRI
THERA LABORATORY PRIVATE LIMITED |
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Registered Office : |
P-19,
Darga Road, Kolkata – 700017, West Bengal, India |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
13.05.1970 |
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Com. Reg. No.: |
21-027725 |
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CIN No.: [Company
Identification No.] |
U24232WB1970PTC027725 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CALN00716C |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Manufacturer
of Health Care Products and Medicines |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject
is an old and established company having moderate track. Company’s
profitability is under severe pressure. It has some accumulated losses. Payments
are reported as slow but correct. The
company can be considered normal for small business dealings at usual trade
terms and conditions, with slight caution initially. |
LOCATIONS
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Registered Office : |
P-19, Darga
Road, Kolkata – 700017, West Bengal, India |
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Tel. No.: |
91-33-22406156 |
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Fax No.: |
91-33-22405579 |
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E-Mail : |
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Website : |
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Factory
1 : |
27,
Raicharan Ghosh Lane, Kolkata – 700039, West Bengal, India |
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Tel.
No.: |
91-33-64503050 |
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Fax
No.: |
91-33-23430439 |
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Mobile
No: |
91-9830319740 |
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Website : |
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Area: |
18000
Sq. ft. |
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Factory
2: |
C/4,
Sara Industrial Estate, Dehradun – 2478197, Uttar Pradesh, India |
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Tel.
No.: |
91-33-22406156 |
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Fax
No.: |
91-33-22405579 |
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E-Mail
: |
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Website : |
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Area: |
35000
Sq. ft. |
DIRECTORS
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Name : |
Mr
Dipankar Dutt |
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Designation : |
Director |
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Address : |
P-19,
Darga Road, Kolkata – 700017, West Bengal, India |
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Date of Birth/Age : |
18.07.1954 |
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Date of Appointment : |
30.09.1980 |
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Name : |
Mrs
Santi Dutt |
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Designation : |
Director |
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Address : |
P-19, Darga
Road, Kolkata – 700017, West Bengal, India |
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Date of Birth/Age : |
20.09.1920 |
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Date of Appointment : |
13.05.1970 |
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Name : |
Mr
Dipyaman Dutt |
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Designation : |
Director |
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Address : |
P-19,
Darga Road, Kolkata – 700017, West Bengal, India |
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Date of Birth/Age : |
01.12.1982 |
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Date of Appointment : |
29.11.2002 |
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Name : |
Mr
Ratnabali Dutt |
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Designation : |
Director |
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Address : |
P-19,
Darga Road, Kolkata – 700017, West Bengal, India |
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Date of Appointment : |
31.08.2004 |
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Name : |
Mr
Kshiti Dutt |
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Designation : |
Director |
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Name : |
Mr
Babu Ranjan Guha |
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Designation : |
Director |
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Name : |
Mrs
Lilabati Basu |
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Designation : |
Director |
KEY EXECUTIVES
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Name
: |
Mr
Dipankar Dutt |
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Designation
: |
Chief
Executive Officer / Manager |
MAJOR SHAREHOLDERS
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Names
of Shareholders |
No. of Shares |
Percentage of Holding |
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Estate
of Late K R Dutt |
215 |
10.75 |
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Mrs
Santi Dutt |
515 |
25.75 |
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Mrs
Lilabati Basu |
1 |
0.00 |
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Mr Dipankar
Dutt |
1015 |
50.75 |
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Mr
Devjani Huggings |
14 |
0.70 |
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Mr
Dipyaman Dutt |
140 |
7.00 |
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Mr
Ratnabali Dutt |
100 |
5.00 |
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Total |
2000 |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer
of Health Care Products and Medicines |
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Products : |
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GENERAL
INFORMATION
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No. of Employees : |
11-50
People |
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Auditors : |
S K
Ganguli Chartered
Accountants |
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Tel. No.: |
‘Sarobar’,
Flat – 6NW, 102, Southern Avenue, Kolkata – 700029, West Bengal, India |
CAPITAL STRUCTURE
Authorised
Capital :
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No.
of Shares |
Type |
Value |
Amount |
|
2000 |
Equity
Shares |
Rs 100/- each |
Rs 0.200 Millions |
Issued,
Subscribed & Paid-up Capital :
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No.
of Shares |
Type |
Value |
Amount |
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2000 |
Equity
Shares |
Rs 100/- each |
Rs 0.200 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.200 |
0.200 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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0.020 |
0.023 |
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4] (Accumulated Losses) |
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(0.511) |
(0.592) |
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NETWORTH |
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(0.291) |
(0.369) |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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5.891 |
0.574 |
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TOTAL BORROWING |
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5.891 |
0.574 |
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DEFERRED TAX LIABILITIES |
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0.073 |
0.051 |
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TOTAL |
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5.673 |
0.256 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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2.403 |
0.312 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.157 |
0.204 |
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Sundry Debtors |
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1.703 |
1.164 |
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Cash & Bank Balances |
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1.988 |
0.291 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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1.770 |
0.363 |
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Total Current Assets |
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5.618 |
2.022 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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2.226 |
2.018 |
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Provisions |
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0.122 |
0.060 |
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Total Current Liabilities |
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2.348 |
2.078 |
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Net Current Assets |
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3.270 |
(0.056) |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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5.673 |
0.256 |
KEY
RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Debt
Equity Ratio (Total
Liability/Networth) |
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(28.31) |
(7.18) |
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Current
Ratio (Current
Asset/Current Liability) |
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2.39 |
0.97 |
LOCAL AGENCY
FURTHER INFORMATION
From a humble beginning in 1970, journey through all these years has been a saga of honest effort and efficiency of labor.
Range of products is wide covering liquids, suspensions, ointments, lotions, tablets and capsules (non-beta lactum).
Kolkata factory is located on 18,000 sq. feet of factory space.
New factory coming up in Uttaranchal is of cGMP and WHO GMP standards, and has
an area of 35,000 square feet. Strict quality assuarance measures help us
ensure that company gives the best products to its customers. It is the
constant endeavour to keep up with the modern day technological developments in
the field of pharmaceuticals.
Manufacturing Sections :
Oral Liquid, Suspension, Tablet, Capsule, Lotion & Ointment
Quality Certification :
cGMP, WHO GMP, ISO
Joint venture partners sought for both technical and financial collaboration.
Company offers equity participation. Company can collaborate and manufacture
for exports branded generics (tablets/liquids/capsules) to other countries. The
intention is to create a new production facility in Kolkata, exclusively for
exports. Company’s associates are based in New York, USA.
Business
Subject
is engaged in the business of chemists, druggists, oilmen, importer and
manufacturer of and dealers in Pharmaceutical medicines including biological
products, chemical and other preparations including all types of preparations
of medicated foods and food products and to establish and carry on laboratory
for the same.
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.44.06 |
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UK
Pound |
1 |
Rs.86.39 |
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Euro |
1 |
Rs.57.46 |
SCORE &
RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
2 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
-- |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
-- |
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--CREDIT LINES |
1~10 |
1 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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22 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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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 |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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