MIRA INFORM REPORT
|
Report
Date : |
29.01.2007 |
IDENTIFICATION
DETAILS
|
Name : |
JANAK
HEALTHCARE PRIVATE LIMITED |
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Formally
Known as : |
METALBEDS
INDIA PRIVATE LIMITED |
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Registered
Office : |
Janak House, Opposite Indian Oil Corporation Depot, Sheikh
Mistry Road, Antop Hill, Wadala (East), Mumbai 400 037, Maharashtra |
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Country
: |
India |
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Financials
(as on) : |
31.03.2005 |
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Date
of Incorporation : |
02.12.1999 |
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Com.
Reg. No.: |
11-122868 |
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CIN
No.: [Company
Identification No.] |
U36100MH1999PTC122868 |
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TAN
No.: [Tax
Deduction & Collection Account No.] |
SRTM02400G
/ MUMM24031A |
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PAN No.: [Permanent
Account No.] |
AACCM0219N |
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Legal
Form : |
Private limited
liability company |
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Line
of Business : |
Manufacturers of Hospital Furniture |
RATING & COMMENTS
|
MIRA’s
Rating : |
Ba |
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered
normal. Capable to meet normal commitments. |
Satisfactory |
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Maximum
Credit Limit : |
USD
225000 |
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Status
: |
Good |
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Payment
Behaviour : |
Usually
Correct |
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Litigation
: |
Clear |
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Comments
: |
Subject is well-established and reputed company having
satisfactory track. Directors are reported as experienced and respectable businessmen.
Trade relations are reported as fair. Business is active. Payments are
usually correct and as per commitments. The company can be considered normal for business dealings
at usual trade terms and conditions.
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LOCATIONS
|
Registered
Office / Head Office : |
Janak House, Opposite Indian Oil Corporation Depot, Sheikh
Mistry Road, Antop Hill, Wadala (East), Mumbai 400 037, Maharashtra, India |
|
Tel.
No.: |
91-22-24120171/
24130407/ 24150408 / 24139870 |
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Fax
No.: |
91-22-24139870 |
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E-Mail
: |
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Website
: |
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Telex
: |
11-71584
JKMG IN11-71584 JKMG IN |
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Area : |
Owned |
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Factory
1 : |
A-1/3, G.I.D.C. Estate, Umbergaon-390 171, District
Valsad, Gujarat |
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Tel.
No.: |
91-260-2562406 |
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Fax
No.: |
91-260-2562706 |
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Area : |
46,891 sq.fts- Owned |
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Factory
2 : |
Plot No. 217/2, GIDC Estate, Umbergaon, District Valsad,
Gujarat |
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Area : |
10,387 sq.fts -- Owned |
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Branches
: |
Ø
Janak
House, Opposite Indian Oil Corporation Depot, Sheikh Mistry Road, Antop Hill,
Wadala (East), Mumbai 400 037, Maharashtra Ø
15-16,
Community Center, Naraina Industrial Area Phase-1, 1st Floor,
Office No. 2, Near Naraina P. O. New Delhi-110 028, India Tel. 91-487-2385476 Fax. 91-487-2385476 Ø
City
Center No 9, 1st Floor 39, Thirumalai Pillai Road, Near Vani
Mahal, T. Nagar, Chennai-600 017, Tamilnadu, India Tel. 91-44-28230356 Fax. 91-44-28218075 E-mail. 1. metalbed@md4.vsnl.net.in Ø
C/o
Vijay Laxmi Sales Corporation, Tiwari Building Opp. Natraj Restaurant, Mirza
Ismail Road, Jaipur-302 001, Rajasthan, India Tel. 91-141-2374384/2371294/2362974 Fax. 91-141-2371294/2367760 E-mail. adityaagencies@yahoo.com Ø
C/o
Aditya Agencies, Sai Krupa, 6, Medical Complex, Behind Hotel Ajit, Telipara,
Bilaspur-495 001, Madhya Pradesh, India Ø
C/o
Manish Overseas (Elect) Private Limited, D-19, Mahanagar Extension, Lucknow
–220 006, Uttar Pradesh, India Tel. 91-522-2331045/2323799 Fax. 91-522-2320732 |
DIRECTORS
|
Name : |
Mr.
Anupam Jayantilal Mehta |
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Designation
: |
Managing Director |
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Address: |
603, Nanda Devi, Neelkanth Valley, Ghatkopar
(East), Mumbai 400 077, Maharashtra |
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Date
of Birth: |
1st December, 1936 |
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Experience: |
47 Years |
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Date
of Appointment: |
2nd December, 1999 |
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Name : |
Mr.
Hasmukh Jivraj Mehta |
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Designation
: |
Director |
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Address: |
B – 14, Majithia Apartment, 5th Floor,
S V Road, Vile Parle (West), Mumbai - 400056 |
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Date
of Birth: |
10th March, 1937 |
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Experience: |
45 Years |
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Date
of Appointment: |
2nd December, 1999 |
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|
|
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Name : |
Mrs. Apurva
Jayantilal Mehta |
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Designation
: |
Director |
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Address: |
153 / 5, Jain Society, 3rd Floor, Vile
Parle (East), Mumbai – 400 056,
Maharashtra |
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Date
of Birth: |
19th December, 1943 |
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Experience: |
37 Years |
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Date
of Appointment: |
2nd December, 1999 |
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|
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Name : |
Mr. Amit
Jayantilal Mehta |
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Designation
: |
Director |
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Address: |
153 / 7, Jain Society, 2nd Floor, Vile
Parle (East), Mumbai – 400 056,
Maharashtra |
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Date
of Birth: |
26th May, 1948 |
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Experience: |
32 Years |
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Date
of Appointment: |
2nd December, 1999 |
MAJOR SHAREHOLDERS
|
Names of Shareholders |
No. of Shares |
|
Mr. Anupam Jayantilal Mehta Joint
With Mrs. Sudha A Mehta |
364410 |
|
Mr.
Hasmukh Jayantilal Mehta Joint With Mrs.
Vasant H Mehta |
235141 |
|
Mrs.
Apurva Jayantilal Mehta Joint With
Mrs. Hema A Mehta |
389243 |
|
Mr. Amit
Jayantilal Mehta Joint With Mrs.
Rita A Mehta |
811496 |
|
Mr.
Anupam Jayantilal Mehta Joint With
Mr. Samir A. Mehta |
364311 |
|
Mr. Hasmukh
Jayantilal Mehta Joint With Mr. Amit
H Mehta |
228128 |
|
Mrs.
Hasmukh Jayantilal Mehta Joint With
Mr. Raj H. Mehta |
228128 |
|
Mrs.
Apurva Jayantilal Mehta Joint With Mr. Atman A. Mehta |
194572 |
|
Mrs. Apurva
Jayantilal Mehta Joint With Mr. Subir A, Mehta |
194571 |
|
|
3010000 |
BUSINESS DETAILS
|
Line
of Business : |
Manufacturers of Hospital Furniture |
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Products
: |
v
Hydraulic
Pump v
Pressed
Panels v Hospital Steel Furniture |
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Brand
Names : |
Janak |
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Exports
to : |
Sri Lanka |
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Imports
from : |
Holland |
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Terms
: |
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Selling : |
Credit (60 to 90 days) |
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Purchasing : |
Credit (30 to 90 days) |
GENERAL INFORMATION
|
Suppliers
: |
Ø
Siddhivinayak
Engineering Ø
Janak
Co-operative Housing Society Limited Ø
Manish
Overseas (Electronics) Private Limited Ø
Biomed
Inter. Private Limited-Commi-Sri Lanka Ø
Agarwal
Impex Intl- Kathmandu Ø Siddhi Sales Agencies- Kolhapur |
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Customers
: |
End Users |
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No. of
Employees : |
180 persons -- 20 persons in office and 160 persons in
factory |
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Bankers
: |
Ø
Dena
Bank Sion Branch, Mumbai, Maharashtra Ø
Dena
Bank Bangalore, Karnataka Ø
Dena
Bank Chennai, Tamilnadu Ø
Dena
Bank Umbergaon,
District Valsad, Gujarat Ø HDFC Bank Limited HDFC Bank House Senapati Bapat
Marg, Lower Parel [West], Mumbai – 400013, Maharashtra, India Ø ICICI Bank |
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Banking Relations : |
Satisfactory |
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Auditors
: |
T. Rama Rao
and Company Chartered
Accountants 303, Lotus House, 33 A, New Marine Lines, Mumbai 400 020,
Maharashtra |
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Tel
No.: |
91-22-22033725 |
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Associates
: |
v
Janak
Manufacturing Works Janak House, Opposite Indian Oil Corporation Depot, Sheikh
Mistry Road, Antop Hill, Wadala (East), Mumbai 400 037, Maharashtra |
CAPITAL STRUCTURE
Authorised
Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
30,50,000 |
Equity
Shares |
Rs. 10/- each |
Rs. 30.500 millions |
Issued,
Subscribed & Paid-up Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
30010000 |
Equity
Shares |
Rs. 10/- each |
Rs. 30.100 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
SHAREHOLDERS FUNDS |
|
|
|
|
1] Share Capital |
30.100 |
30.100 |
30.100 |
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
3] Reserves & Surplus
|
36.833 |
28.375 |
23.830 |
NETWORTH
|
66.933 |
58.475 |
53.930 |
|
|
|
|
|
|
LOAN FUNDS |
|
|
|
|
1] Secured Loans |
17.132 |
21.019 |
10.311 |
|
2] Unsecured Loans |
0.277 |
0.277 |
0.000 |
|
TOTAL BORROWING |
17.409 |
21.296 |
10.311 |
|
|
|
|
|
|
Deferred Tax Liability |
8.385 |
8.710 |
8.737 |
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|
|
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TOTAL
|
92.727 |
88.481 |
72.978 |
|
|
|
|
|
|
APPLICATION OF FUNDS |
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|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
45.525 |
38.026 |
36.200 |
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
INVESTMENTS |
0.000 |
0.000 |
0.008 |
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
Inventories |
47.360 |
44.950 |
34.927 |
|
Sundry Debtors |
52.179 |
5.141 |
2.029 |
|
Cash & Bank Balances |
4.469 |
38.451 |
29.338 |
|
Loans & Advances |
23.654 |
17.900 |
20.600 |
|
Total Current Assets |
127.662 |
106.442 |
86.894 |
|
Less : |
|
|
|
|
Current Liabilities |
63.237 |
55.987 |
50.146 |
Provisions
|
17.223 |
0.000 |
0.000 |
Total
Current Liabilities
|
80.460 |
55.987 |
50.146 |
|
Net Current Assets |
47.202 |
50.455 |
36.748 |
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.022 |
|
|
|
|
|
TOTAL
|
92.727 |
88.481 |
72.978 |
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
Sales Turnover [including other income]
|
267.991 |
227.845 |
173.565 |
|
|
|
|
|
Profit/(Loss) Before Tax
|
20.532 |
13.394 |
12.602 |
Provision for Taxation
|
0.000 |
5.081 |
4.602 |
Profit/(Loss) After Tax
|
20.532 |
8.313 |
8.000 |
|
|
|
|
|
Export Value
|
NA |
10.908 |
11.084 |
|
|
|
|
|
Import Value
|
NA |
12.975 |
3.400 |
|
|
|
|
|
Total Expenditure
|
252.286 |
214.451 |
160.964 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
PAT / Total Income
|
(%)
|
7.66
|
3.64 |
4.60 |
|
|
|
|
|
|
Net Profit Margin
(PBT/Sales) |
(%) |
7.66
|
5.87 |
7.26 |
|
|
|
|
|
|
Return on Total Assets
(PBT/Total
Assets} |
(%) |
11.85
|
9.27 |
10.23 |
|
|
|
|
|
|
Return on Investment (ROI)
(PBT/Networth) |
|
0.30
|
0.23 |
0.23 |
|
|
|
|
|
|
Debt Equity Ratio
(Total Liability/Networth) |
|
1.38
|
1.51 |
1.12 |
|
|
|
|
|
|
Current Ratio
(Current
Asset/Current Liability) |
|
1.58
|
1.90 |
1.73 |
LOCAL AGENCY FURTHER INFORMATION
The company is about to expand its manufacturing activities for
faster production by employing better production planning and restructuring its
factory layout and by employing better production methods. The factory at Unit
II will be expanded by an addl. 2000 sq. mtr. construction in the financial
year 2005-06.
The company’s contribution in developing a low case electro
mechanical operation table has been acclaimed as a good step forward by small
hospitals. A good beginning has been made in sale of this table. Some of the
new products whose prototypes are under preparation include motorized Delivery
Bed and operation table for ophthalmology. The company efforts to have a good
ERP package in place are continuing.
Manufacturer, Seller, Purchaser, Wholesaler and Retailer
whether Manufactured or otherwise, Repair, Importer, Dealer in Hospital
Furniture, House Furniture, Office Furniture and its Accessories made from
Wood, Stainless Steel, Fibre Glass, Plastics or other Alloys.
Quantitative Details
Ø Steel
Ø Paints
Ø Bought out Items
Its’
product range includes:-
Ø
Beds
Ø
Stretcher/Monitor/Trolleys
Ø
Labour/Examination
Tables
Ø
Bedsides
Lockers
Ø
Traumacare
crash carts
Ø
Revolving/Attendant
Stools
Ø
Saline
Stands and Others
It exports
hospital furniture.
It imports
hydraulic pumps.
It is in
trade terms with :-
·
Apollo
Hospital Enterprises Limited
Ali Towers 55, Greams Road, Post Box No. 6254,
Chennai – 600 006, Tamilnadu
Contact Person – Mr. G. Narotham Reddy
·
Biomed
International Private Limited
2A Deal Place, Colombo
·
Power
Pacher, Holland
Subject continues to ISO 900 : 2001 certified with good
improvement in all activities being carried out. Presently 34 Resident
Representatives continue to work, beside subject appointed agents in UAE,
Nepal, Kenya, Mauritius, Sri Lanka, Riyadh, Oman, Bahrain, Nigeria and Sudan.
All these activities are co-ordinated in Mumbai.
Subject has just completed renovation of their new Display
centre at Mumbai including new addition
of the 18 seater Conference Room with possibility to expand the capacity to 30
persons. Subject has installed new machinery including CMC tube Bending
Machine, Milling Machine and Tube Cutting Machine, etc. Subject also proposing
to undertake product improvement process and therefore, strengthening the
activities of its Design Department. A new product project engineer has
appointed.
PROFILE
India’s leading manufacturer of hospital beds, furniture and
patient care equipment was born from Janak Manufacturing Works, the pioneering
hospital furniture manufacturing company in India established in the year 1951.
Metalbeds with its brand “JANAK” is recognised as a reliable
name in India’s hospitals.
The first ISO-9001 manufacturer in the field of hospital
furniture and patient care with a built-up area of 3500 sq. mtrs and vast land
available for further expansion, the manufacturing units have modern tubular
and sheet metal fabrication facilities, the latest chemical pre-treatment plant
and a hi-tech powder coating paint shop. Dedicated teamwork with an experienced
workforce the company strives constantly for total customer satisfaction.
The company’s fixed assets of important values include Land,
FIDC Plot, Factory Building, Plant and Machinery, Office Premises, Computer,
Furniture and Fixture, Residential Property, and Motor Car.
|
Name of
the company |
METALBEDS INDIA PRIVATE LIMITED |
||||||||||||||||||||
|
Presented By |
Jointly company and charge holder |
||||||||||||||||||||
|
1) Date
and description of instrument creating the change |
Agreement
of hypothecation dated 29.12.2000 |
||||||||||||||||||||
|
2) Amount
secured by the charge/amount owing on the securities of charge |
Rs.
24.000 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 |
Stocks of
raw materials consisting of CRCA stainless sheets, ERW-MS, stubs etc, stock
in process and finished goods such as hospital furniture and fixture, patient
care equipments, hospital beds etc. consumable stores and spares, packing
materials etc. both present and future now being or hereafter brought into or
upon or now or hereafter brought into or upon or godowns that has at
Umergaon, Gujarat an Wadala Mumbai or other place whatsoever and whosoever in
the possession or occupation of the company. All the
tangible movable properties and assets of whatsoever nature including plant,
machinery , tools and accessories, stores, spares relating to the plant and
machinery, furniture, articles,
office equipments and things lying at the company’s premises at Umergaon, Gujarat
an Wadala Mumbai delivery both present an future whether installed or not and
whether now lying loose or into or upon or at anytime in course of transit to
the premises of the company at Umergaon, Gujarat and Wadala Mumbai either by
way of substitution or in addition or other possession of occupation of the
company. All the
present and future book dents, outstanding,
moneys, receivables, claims moneys, claims, bills rights to or in
movable property and movable assets and which are now due, owing or payable
or belonging to the company or which may at any time hereafter become due,
owing payable or belonging to the company in the course of its business by
any person, firm company or body corporate or by the government central or
state or Indian railway undertaking or project whatever in the public
sector. |
||||||||||||||||||||
|
4) Gist
of the terms and conditions and extent and operation of the charge. |
Security
created by way of first charge and to cover principal amount together with
interest cost, charges, expenses etc. Details
of the credit facilities
Individual
limits within the aggregate amount secured to be decided between the company
and bank form time to time. Interest
at such rate as may be stipulated by the bank form time to time. Margin to
be specified by the bank form time to time Bank to
have power of entry, power to appoint receiver, power of sale etc. |
||||||||||||||||||||
|
5) Name
and Address and description of the person entitled to the charge. |
Dena
Bank, Sion, Mumbai - 400022 |
||||||||||||||||||||
|
6)
Date and brief description of
instrument modifying the charge |
Memorandum
of first modification of agreement hypothecation dated 22.03.2001 |
||||||||||||||||||||
|
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. |
Total
amount secured stand enhanced from Rs. 24 millions to Rs. 28 Millions |
|
Corporate
identity number of the company |
U36100MH1999PTC122868 |
|
Name of
the company |
JANAK
HEALTHCARE PRIVATE LIMITED |
|
Address of
the registered office or of the principal place of business in India of the company |
Janak
House, Opposite Indian Oil Corporation Depot, Sheikh Mistry Road, Antop Hill,
Wadala (East), Mumbai 400 037, Maharashtra |
|
This form
is for |
Modification
of charges |
|
Type of
charge |
Hypothecation
|
|
Particular
of charge holder |
HDFC Bank
Limited HDFC Bank
House Senapati Bapat Marg, Lower Parel [West], Mumbai – 400013, Maharashtra,
India |
|
Amount
secured by the charge |
Rs.
36.200 millions |
|
Brief of
the principal terms an conditions and extent and operation of the charge |
The
facility granted to the borrower is in the nature of cash credit / bills purchased
/ OD against FD / LC/ BG The bank
is entitled to charged interest at such rates as may be determined by the
bank The
changed and hypothecation shall continued to subsists till such time all the borrower dues ahave been
repaid in full. |
|
Description
of the property charged indicating whether it is a charged on |
Immovable
Property, Stock in trade, Book debts |
|
Particulars
of the property charged |
Mortgage
by deposit of title deeds in favour of the bank as security on Plot no
A-1/3, G.I.D.C. Estate, Umbergaon-390 171, District Valsad, Gujarat Plot No.
Plot No. 217/2, GIDC Estate, Umbergaon, District Valsad, Gujarat Janak
House, Sheikh Mistry Road, Antop Hill, Wadala (East), Mumbai |
|
Charge identification
number of the charge to be modified |
80010040 |
|
Date of
instrument Creating the charge |
18.08.2006 |
|
Particulars
of the present modification |
At the
request of the company, Bank has provided additional credit facility of Rs.
28.300 Millions. Thus the total limit and the charge stand enhanced from Rs.
36.200 Millions to Rs. 64.500 Millions |
|
Corporate
identity number of the company |
U36100MH1999PTC122868 |
|
Name of
the company |
JANAK
HEALTHCARE PRIVATE LIMITED |
|
Address
of the registered office or of the principal place of business in India of the company |
Janak
House, Opposite Indian Oil Corporation Depot, Sheikh Mistry Road, Antop Hill,
Wadala (East), Mumbai 400 037, Maharashtra |
|
This form
is for |
Modification
of charges |
|
Type of
charge |
Equitable
mortgage or mortgage of property by deposition the title deeds |
|
Particular
of charge holder |
HDFC Bank
Limited HDFC Bank
House Senapati Bapat Marg, Lower Parel [West], Mumbai – 400013, Maharashtra,
India |
|
Amount
secured by the charge |
Rs.
18.000 millions |
|
Nature of
instrument creating charge |
Memorandum
recording transaction of creation of equitable mortgage by deposit of title deeds by constructive delivery |
|
Brief of
the principal terms an conditions and extent and operation of the charge |
The bank
is entitled to charge interest at such other rate as may be determined by the
bank form time to time. The
charge shall continue to subsist till such time all the borrower dues have
been repaid in full together with interest, liquidated damages, costs,
charges and expenses and all other monies whatsoever dues |
|
Description
of the property charged indicating whether it is a charged on |
Immovable
Property, Stock in trade, Book debts |
|
Particulars
of the property charged |
Mortgage
by deposit of title deeds in favour of the bank as security on Plot no
A-1/3, G.I.D.C. Estate, Umbergaon-390 171, District Valsad, Gujarat Plot No.
Plot No. 217/2, GIDC Estate, Umbergaon, District Valsad, Gujarat Janak
House, Sheikh Mistry Road, Antop Hill, Wadala (East), Mumbai |
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.44.24 |
|
UK Pound |
1 |
Rs.86.95 |
|
Euro |
1 |
Rs.57.33 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP
CAPITAL |
1~10 |
5 |
|
OPERATING
SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS
SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT
LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT
POINTS |
|
|
|
--BANK
CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER
ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT
POINTS |
|
|
|
--SOLE
DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT
ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER
MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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 |
|