MIRA
INFORM REPORT
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Report Date : |
04.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
LEE PHARMA PRIVATE LIMITED |
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Registered Office : |
A-401, Sai Datta Apartments, Srinivasanagar
Colony East, 157, Hyderabad - 500 038, Andhra Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
06.10.1997 |
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Com. Reg. No.: |
01-28095 |
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CIN No.: [Company
Identification No.] |
U24230AP1997PTC028095 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
HYDL00387C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturing and marketing of Active Pharmaceutical
Ingredients (APIs) and Intermediate Chemicals. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable
to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD
300000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company having satisfactory track records. Directors are reported as experienced, respectable and having satisfactory means of their own. Their trade relations are reported as fair. Payments are usually correct and as per commitments. The company can be considered normal for
business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
A-401, Sai Datta Apartments, Srinivasanagar
Colony East, 157, Hyderabad - 500 038, Andhra Pradesh |
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Tel. No.: |
91-40-23751320/21 |
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Fax No.: |
91-40-23747598 |
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E-Mail : |
lee.pharma@gnhyd.global.net.in, info@leeoharma.com, sales@leepharma.com, purchase@leepharma.com, accounts@leepharma.com |
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Website : |
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Corporate
Office : |
No. 401, Saidatta Apartments, Srinivasa
Nagar Colony (East), Ameerpet, Hyderabad - 500038, Andhra Pradesh, India |
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Tel.
No.: |
91-40-23751320/21 |
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Fax
No.: |
91-40-23747598 |
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Factory
1 : |
Active Pharmaceutical Ingredients : Survey No. 10/G-1, Gaddapotharam Village,
Ginnaram Mandal, Medak Dist., Hyderabad, Andhra Pradesh, India |
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E-Mail
: |
Owned |
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Area : |
14700 sq.mtr. |
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Factory
2 : |
Bulk Pellets : Survey No. 199, Plot No. 3, D. No. 5-9-265/2, Rajeev Gandhi Nagar, , Kukatpally, Hyderabad – 500 072, Andhra Pradesh Lee Advanced Research Centre : Sy. No. 10/G/1,
Gaddapotharam Industrial Estate, Jinnaram Mandal, Medak District,
Andhra Pradesh, India |
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Tel.
No.: |
91-40-23078738/23074614 |
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Area : |
25000 sq.ft. |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. A. Venkata Reddy |
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Designation : |
Managing Director |
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Address : |
Plot No. 157, Vivekanandnagar
Colony, Kukatpally, Hyderabad-500072, Andhra Pradesh, India |
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Date of Birth : |
15.02.1955 |
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Qualification : |
Post Graduate |
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Experience : |
26 years |
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Date of Appointment : |
08.10.2002 |
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Date of Ceasing : |
07.10.2007 |
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Name : |
Mrs. A. Ratna Kumari |
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Designation : |
Wholetime Director |
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Address : |
Plot No. 157,
Vivekanandnagar Colony, Kukatpally, Hyderabad-500072, Andhra Pradesh, India |
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Date of Birth : |
22.11.1960 |
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Qualification : |
Graduate |
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Experience : |
18 years |
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Date of Appointment : |
06.10.1997 |
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Name : |
Mr. B. Satyanarayana Reddy |
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Designation : |
Director |
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Name : |
Mr. D. Kesava Reddy |
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Designation : |
Director |
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Name : |
Mr. T. Gopala Rao |
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Designation : |
Director |
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Address : |
203, Siri Residency,
Thakur Mansion Lane, Somajiguda, Hyderabad-500082, Andhra Pradesh, India |
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Date of Appointment : |
22.04.1999 |
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Name : |
Mr. Puchhalapally Mitra |
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Designation : |
Additional Director |
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Address : |
Flat No. 303, Padmaja
Towers, Srinagar Colony, Hyderabad-500073, Andhra Pradesh, India |
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Tel. No.: |
91-40-55499951 |
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Fax No.: |
91-40-23747538 |
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E-Mail : |
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Other Directorship : |
Genova Biotechniques Private Limited CIN No.: U01110AP2001PTC036979 Designation : Chairman and Managing Director |
MAJOR SHAREHOLDERS
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Names
of Shareholders |
No. of Shares |
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Mr. A.
Venkata Reddy |
249000 |
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Mrs. A.
Ratna Kumari |
161700 |
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Mr. A.
Raghumitra |
102300 |
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Mrs.
A. Leela Rani |
62100 |
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Mr. P.
V. Subba Reddy |
16200 |
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Mr. P.
Jagadeeshwara Reddy |
4050 |
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Mrs.
P. Padmalatha Reddy |
5400 |
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Mrs.
P. Anjusha Reddy |
1350 |
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Mr. P.
Venkata Reddy |
6750 |
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Mrs.
P. Varalakshmi |
1350 |
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Mr. P.
Venkata Reddy |
2700 |
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Dr. K.
Lahiri |
100 |
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Mrs.
K. Swapna Lahiri |
100 |
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Mrs.
M. Lakshmi Prasanna |
100 |
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Mr. P.
Madhusudhan Reddy |
5400 |
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Mr. P.
Bhuvana Reddy |
5400 |
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Mr. A.
Nagi Reddy |
42700 |
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Mrs. A.
Anjamma Reddy |
40800 |
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Mr. K.
Tarun Reddy |
10000 |
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Mr. K.
Bhargav Reddy |
10000 |
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Mr. B.
Pitchi Reddy |
20000 |
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Mrs.
B. Dhanalakshmi Reddy |
15000 |
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Mr. B.
Anasurya Reddy |
15000 |
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Mr. S.
Madhusudhan Reddy |
20000 |
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Mr. M.
Mallikarjun Rao |
100 |
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Mrs.
A. Vijaya Kumari |
100 |
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Mr. B.
Rama Subba Reddy |
100 |
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Mr. K.
Mallikarhun Reddy |
100 |
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Dr. T.
Gopal Rao |
100 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing and marketing of Active Pharmaceutical
Ingredients (APIs) and Intermediate Chemicals. |
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Products : |
Ř
Intermediates Ř
APIs Ř
Pallets
and Granuels Ř
LARC Ř
Formulation Ř
Bulk
Pharmaceutical Chemicals Ř
Intermediate
Chemicals Ř
Modified
Release Dosage Forms Apis Antihypertensive Ř
Carvedilol Ř
Doxazosin Mesylate Ř
Enalaprilat Ř
Lisinopril Antiulcerative Ř
Lansprazole powder Ř
Esomeprazole magnesium powder Ř
Omeprazole powder Ř
Omeprazole Magnesium Antifungal Ř
Fluconazole Ř
Itraconazole Powder Ř
Saperconazole Ř
Terconazole Antidepressant Ř
Citalopram HBr Ř
Setraline HCI Form I & II Ř
Venlafaxine HCI Powder Antihistaminic Ř
Levocetirizine HCI Ř
bulk
pellets Antiulcerative Ř
Lansoprazole Pellets Ř
Esomeprazole Magnesium Pellets Ř
Omeprazole Pellets Antidepressant Ř
Venlafaxine
HCL Pellets Intermediate
Chemicals Ř
4-Hydroxy Carbazole Ř
4-(3,3-epoxypropoxy) Carbazole Ř
2-(2-methoxyphenoxy) ethylamine Hydrochloride Ř
1-(1,4-benzodioxan-2-yl carbonyl) piperazine Ř
N6 –trifluoroacetyl-L-lysine Ř
N2-[(1S) – ehtoxycarbonyl-3-phenylpropyl]-n6-trifluoroacetyl-L-lysine |
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Exports to : |
Mexico, Brazil, Switzerland, Dubai,
Bangladesh, Pakistan, Spain, Poland, Turkey, Korea, Israel, Argentina,
Colombia, China, Germany, Uruguay, Taiwan, Ukraine and Canada. |
GENERAL
INFORMATION
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No. of Employees : |
80 |
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Bankers : |
State Bank of India, Balanagar Branch, Hyderabad, Andhra
Pradesh |
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Banking Relations : |
Good |
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Auditors : |
M. V. Narayana Reddy & Company Chartered Accountants |
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Address : |
504, Vijayasree Apartments, Opp. Kamma Sangam, Ameerpet, Hyderabad - 500 016, Andhra Pradesh, India |
CAPITAL STRUCTURE
Authorised
Capital :
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No.
of Shares |
Type |
Value |
Amount |
|
900000 |
Equity
Shares |
Rs.10/- each |
Rs.9.000 millions |
Issued,
Subscribed & Paid-up Capital :
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No.
of Shares |
Type |
Value |
Amount |
|
798000 |
Equity
Shares |
Rs.10/- each |
Rs.7.980 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
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SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.3.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
7.980 |
7.980 |
7.980 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
69.403 |
50.164 |
39.166 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
77.383 |
58.144 |
47.146 |
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LOAN FUNDS |
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1] Secured Loans |
122.807 |
58.905 |
40.325 |
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2] Unsecured Loans |
19.195 |
14.269 |
10.997 |
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TOTAL BORROWING |
142.002 |
73.174 |
51.322 |
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DEFERRED TAX LIABILITIES |
15.412 |
9.457 |
0.000 |
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TOTAL |
234.797 |
140.775 |
98.468 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
139.612 |
82.034 |
59.238 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.300 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
(6.960) |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
70.718 |
59.921 |
36.175 |
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Sundry Debtors |
87.920 |
57.183 |
81.196 |
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Cash & Bank Balances |
4.610 |
5.074 |
3.608 |
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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Loans & Advances |
32.362 |
13.670 |
9.115 |
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Total Current Assets |
195.610
|
135.848 |
130.094
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
107.316 |
75.414 |
82.525 |
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Provisions |
0.471 |
3.560 |
3.100 |
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Total Current Liabilities |
107.787
|
78.974 |
85.625
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Net Current Assets |
87.823
|
56.874 |
44.469
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MISCELLANEOUS EXPENSES |
0.276 |
0.003 |
0.005 |
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Deferred Revenue Expenditure |
7.086 |
1.564 |
1.716 |
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TOTAL |
234.797 |
140.775 |
98.468 |
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PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover [including other
income] |
394.107 |
307.514 |
252.763 |
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Profit/(Loss)
Before Tax |
28.989 |
17.055 |
17.476 |
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Provision
for Taxation |
0.000 |
0.000 |
5.388 |
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Profit/(Loss)
After Tax |
28.989 |
17.055 |
12.088 |
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Export
Value |
NA |
NA |
140.143 |
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Import
Value |
NA |
NA |
15.497 |
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Total
Expenditure |
365.118 |
290.460 |
235.285 |
KEY
RATIOS
|
PARTICULARS |
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31.03.2006 |
31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
7.35
|
0.05 |
4.78
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Net
Profit Margin (PBT/Sales) |
(%) |
7.35
|
0.05 |
0.07
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Return
on Total Assets (PBT/Total
Assets} |
(%) |
8.65
|
7.85 |
9.23
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Return
on Investment (ROI) (PBT/Networth) |
|
0.37
|
0.29 |
0.37
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Debt
Equity Ratio (Total
Liability/Networth) |
|
3.23
|
2.62 |
2.90
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Current
Ratio (Current
Asset/Current Liability) |
|
1.81
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1.72 |
2.92
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LOCAL AGENCY
FURTHER INFORMATION
Form 8 Particular for creation or modification of charges
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Name of the company |
LEE PHARMA LIMITED |
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Presented By |
Mr. A. Venkata Reddy Managing Director (Name and designation of the official of the
Company |
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1) Date and description of instrument creating
the change |
Dt.01.03.1999
(Hypothecation
of Goods, Book Debts, Movables and other Assets)
(Letter of
Credit Guarantees and Indemnities)
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2) Amount secured by the charge/amount owing on
the securities of charge |
Working Capital Limits of Rs.4.000 Millions Term Loan of Rs.1.200 Millions |
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3) Short particular of the property charged. If the
property acquired is subject to charge, date of the acquired of the property
should be given |
Hypothecation of Stocks, Book Debts and Pledge of
Machinery and other equipment. Equitable mortgage of landed property in the name
of Company of Acres 1.83 Cents at Sy.No.10/G-1in Gadda Potharam Village,
Jinnaram Mandal, Medak District. Equitable mortgage of landed property in the name
of Company 0.35 Cents at Sy.No.10, Gaddapotharam Village, Jinnaram Mandal,
Mandek District. |
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4) Gist of the terms and conditions and extent
and operation of the charge. |
Working Capital limits shall be repayable on
demand with interest@ 3.25% above SBI advance rate subject to minimum of
16.25%. Term Loan shall be repayable in eight quarterly
instalments commencing from 01.07.1999 together with interest @ 15.75% +
interest tax. |
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5) Name and Address and description of the person
entitled to the charge. |
State Bank Of India Balanagar Branch Hyderabad-500037 |
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6) Date and
brief description of instrument modifying the charge |
Date: 18.10.2005 Instruments: 1. Board
Resolution
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7) Particulars of modifications specifying the
terms and conditions or the extent of operations of the charge in which
modification is made and the details of the modification. |
(Rs. in Millions)
Security
Cash Credit, EPC
(Sub Limit), Bill Discounting, Letters of Credit and Bank Guarantee:
Hypothecation of all chargeable current assets of the company. Term Loan (New):
First charge on the fixed assets being acquired with bank finance. II. Collateral
Securities:
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Rate of Interest: Cash Credit: 0.75% above State Bank advance rate
(SBAR)- effective rate being 11.00% with monthly rests subject to change in
SBAR from time to time. EPC: Up to 180 days-6.5% per annum with monthly
rests and beyond 180 days-8.15% per annum with monthly rests. Bill Discounting: Up to 180 days- 6.5% per annum
with monthly rests and beyond 180 days-8.15% per annum with monthly rests. Term Loan (New): 2% over SBAR – effective rate
being 12.25% with monthly rests subject to change in SBAR from time to time. Term Loan (New) is repayable in 59 monthly equal
instalments of Rs.0.534 millions starting from October 2006 to August 2011.
Interest payable as when applied. SLC: Interest rate equivalent to 1% over the present
applicable rate on Cash Credit (current effective rate 12%) would be charged. |
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Name of the company |
LEE PHARMA PRIVATE LIMITED |
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Presented By |
Mr. A. Venkata Reddy Managing Director (Name and designation of the official of the Company |
||||||||||||||||||||||||||||||||||||
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1) Date and description of instrument creating
the change |
Dt.01.03.1999
(Hypothecation of Goods, Book Debts, Movables and other Assets)
(Letter of
Credit Guarantees and Indemnities)
|
||||||||||||||||||||||||||||||||||||
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2) Amount secured by the charge/amount owing on
the securities of charge |
Working Capital Limits of Rs.4.000 Millions Term Loan of Rs.1.200 Millions |
||||||||||||||||||||||||||||||||||||
|
3) Short particular of the property charged. If
the property acquired is subject to charge, date of the acquired of the
property should be given |
Hypothecation of Stocks, Book Debts and Pledge of
Machinery and other equipment. Equitable mortgage of landed property in the name
of Company of Acres 1.83 Cents at Sy.No.10/G-1in Gadda Potharam Village,
Jinnaram Mandal, Medak District. Equitable mortgage of landed property in the name
of Company 0.35 Cents at Sy.No.10, Gaddapotharam Village, Jinnaram Mandal,
Mandek District. |
||||||||||||||||||||||||||||||||||||
|
4) Gist of the terms and conditions and extent
and operation of the charge. |
Working Capital limits shall be repayable on
demand with interest@ 3.25% above SBI advance rate subject to minimum of
16.25%. Term Loan shall be repayable in eight quarterly
instalments commencing from 01.07.1999 together with interest @ 15.75% +
interest tax. |
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5) Name and Address and description of the person
entitled to the charge. |
State Bank Of India Balanagar Branch Hyderabad-500037 |
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6) Date
and brief description of instrument modifying the charge |
Date: 18.10.2005 Instruments: 1. Arrangement
Letter
|
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7) Particulars of modifications specifying the
terms and conditions or the extent of operations of the charge in which
modification is made and the details of the modification. |
(Rs. in Millions)
Security Primary
Securities: Cash Credit:
Hypothecation of Stocks and Book Debts. Term Loan : Hypothecation of Plant and Machinery purchased
from Bank finance. II. Collateral
Securities:
|
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Rate of Interest: Cash Credit: (Hypothecation of Stocks/ Book
Debts/ Outward Bills) 0.75% above State Bank advance rate (SBAR)- effective rate
being 11.00% per annum with monthly rests. SBAR at present is 10.25% and is
subject to change from time to time. EPC: 3.15% below State Bank Short Term Advances
Rate (SBAR) with minimum of 7.10% and is subject to change from time to time. Repayment of Term Loan 59 Equal instalments of
Rs.0.534 millions starting from 01.10.2005 or 6 months after completion of
the project which ever is less and 60th instalment of Rs.0.494
millions. Interest payable as and when applied. Rate of Interest @ 2.00 and
above State Bank Advances Rate (SBAR) with minimum of 12.25% per annum with
monthly rests. At present SBAR is 10.25% and is subject to change from time
to time. |
|
Name of the company |
LEE PHARMA PRIVATE LIMITED |
|||||||||||||||||||||||||||||||||||||||
|
Presented By |
Mr. A. Venkata Reddy Managing Director (Name and designation of the official of the
Company |
|||||||||||||||||||||||||||||||||||||||
|
1) Date and description of instrument creating
the change |
Dt.01.03.1999
(Hypothecation of Goods, Book Debts, Movables and other Assets)
(Letter of
Credit Guarantees and Indemnities)
|
|||||||||||||||||||||||||||||||||||||||
|
2) Amount secured by the charge/amount owing on
the securities of charge |
Working Capital Limits of Rs.4.000 Millions Term Loan of Rs.1.200 Millions |
|||||||||||||||||||||||||||||||||||||||
|
3) Short particular of the property charged. If
the property acquired is subject to charge, date of the acquired of the
property should be given |
Hypothecation of Stocks, Book Debts and Pledge of
Machinery and other equipment. Equitable mortgage of landed property in the name
of Company of Acres 1.83 Cents at Sy.No.10/G-1in Gadda Potharam Village,
Jinnaram Mandal, Medak District. Equitable mortgage of landed property in the name
of Company 0.35 Cents at Sy.No.10, Gaddapotharam Village, Jinnaram Mandal,
Mandek District. |
|||||||||||||||||||||||||||||||||||||||
|
4) Gist of the terms and conditions and extent
and operation of the charge. |
Working Capital limits shall be repayable on
demand with interest@ 3.25% above SBI advance rate subject to minimum of
16.25%. Term Loan shall be repayable in eight quarterly
instalments commencing from 01.07.1999 together with interest @ 15.75% +
interest tax. |
|||||||||||||||||||||||||||||||||||||||
|
5) Name and Address and description of the person
entitled to the charge. |
State Bank Of India Balanagar Branch Hyderabad-500037 |
|||||||||||||||||||||||||||||||||||||||
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6) Date
and brief description of instrument modifying the charge |
Date: 24.02.2005 Instruments: 1. Letter
of Sanction of Credit Facilities.
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7) Particulars of modifications specifying the terms
and conditions or the extent of operations of the charge in which
modification is made and the details of the modification. |
(Rs. in Millions)
Security Primary
Securities: Cash Credit:
Hypothecation of Stocks and Book Debts. Term Loan : Hypothecation of Plant and Machinery purchased from
Bank finance. II. Collateral
Securities:
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Rate of Interest: Cash Credit: (Hypothecation of Stocks/ Book Debts/
Outward Bills) 0.75% above State Bank advance rate (SBAR) with minimum of
11.00% per annum with monthly rests. SBAR at present is 10.25% and is subject
to change from time to time. EPC: 3.15% below State Bank Short Term Advances
Rate (SBAR) with minimum of 7.10% and is subject to change from time to time. Repayment of Term Loan 59 Equal instalments of
Rs.0.534 millions starting from 01.10.2005 or 6 months after completion of
the project which ever is less and 60th instalment of Rs.0.494
millions. Interest payable as and when applied. Rate of Interest @ 2.00 and
above State Bank Advances Rate (SBAR) with minimum of 12.25% per annum with
monthly rests. At present SBAR is 10.25% and is subject to change from time
to time. Funds utilised from the Standby line of Credit
(SLC), interest rate equivalent to 1% over the present applicable rate
(current effective rate 12%) would be charged. |
Web
site Details :
Over the years, they have leveraged their position in the global market with
an enviable list of clients and a phenomenal growth rate achieved through
product innovation, dedicated teams and timely implementation of solutions.
Why Lee?
They believe in Quality and Customer Satisfaction. Their experience and expertise ensures their business gains competitive edge over others competition. They follow the right methodology for each scenario thereby generating substantial value to their customers by reducing time-to-market and ensuring a high level of predictability in time, cost and quality.
Lee pharma meets to all the standards, quality methodologies and other
scientifically derived technologies to become a leader in the Pharma world.
Mr A.Venkata
Reddy – Managing Director
A Post Graduate in
Economics and has a rich experience of more than 26 years in Pharmaceutical
Industry. Started his Career with Dr. Reddy’s group of Companies & served
in various capacities till 1993. Co-promoter of Hetero Drugs Limited, Served in
the capacity of Executive Director till 1996. Promoter of M/S Genix Pharma and
served in the capacity of Managing Director till 1997. Started M/s Lee Pharma
in 1997.
Mrs. A.Ratna
Kumari - Director - Q.A
A Graduate in Chemistry and had
experience of 18 years as Quality Assurance In-charge and is the instrumental
in setting up quality Control Systems & Experienced in the implementation
of Regulatory Affairs.
Dr. T. Gopala Rao – Director
Well known medical practitioner in Hyderabad, India with the specialization in urology.
Who is associated with Lee Pharma from the inception of the company for
advising the Pharmacology studies for APIs.
At Global level, the Bulk Drug Industry is passing through the changeover situation and new strategic alliances, mergers and take overs are taking place by identifying the strength of each company and joining hands to fully utilise the opportunities to the growth rate in the new millennium. During this process, the year 2005 AD is an important milestone year for the Indian Pharmaceutical Industry. Since the Indian Industry is going to be covered under the patent laws.
To meet the challenges in the new millennium, the company has established the basic research centre under the name and style "Lee Advanced Research Centre". A number of scholars are working in the invention of critical health care molecules to make available for the needy.
Marketing of Solutions
Marketing is more about solutions than products. The company's experience has been that for a hundred specific healthcare needs being addressed by different products there are always a few that are being overlooked. The company's special expertise has been in identifying niche and special needs and developing solutions for them. It is this inventiveness that helped it gain the confidence of its growing clientele. In the future too, the company shall seek to address critical healthcare applications.
Looking Forward
The company fruition of plans and actions it has taken in a short, but eventful, period of operations. The company has devised a blueprint for exploring several exciting new areas, researching and developing new molecules, biosynthesis, synergistic alliances with leading Indian & World players in developing new products etc. Sharing knowledge and experience not just with customers but its competitors too, the company believes, enriches everyone involved.
Press Clippings
Brazilian panel approves Lee Pharma's product
Lee Pharma (Private) Limited, a Hyderabad based pharmaceutical company has got accreditation for its product Omeprazole as a reference standard by Brazilian Pharmaceutical Committee. "This rare recognition is rated as the quality of the Indian products as a reference standard by the International pharmacoepia," said S. L. P Raju, Vice president, Lee Pharma.
Lee Pharma is engaged in manufacturing of active pharmaceutical ingredients, mainly anti-ulceratives, cardiac category and anti-fungal range of products.
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.44.33 |
|
UK
Pound |
1 |
Rs.87.49 |
|
Euro |
1 |
Rs.58.88 |
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 |
|