MIRA
INFORM REPORT
|
Report Date : |
23.07.2007 |
IDENTIFICATION DETAILS
|
Name : |
JH BIO INNOVATIONS PRIVATE LIMITED |
|
|
|
|
Formerly Known As : |
RIOTECH INSTRUMENTS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
567, 2nd Cross, 2nd Block, R T Nagar, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
25.09.1992 |
|
|
|
|
Com. Reg. No.: |
08-13564 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U01122KA1992PTC013564 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
BLRJ02027E |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AABCJ4572G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Subject is engaged in the sales of Scientific Instruments,
Scientific Equipment, Dissecting Equipment, Burner Bunsen, Hoffmans
Voltameter, Microslides, Magnifiers. |
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 3000 |
|
|
|
|
Status : |
Small company |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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 : |
567, 2nd Cross, 2nd Block, R T Nagar, |
|
Tel. No.: |
91-80-23548433 / 223434493 / 95 |
|
Fax No.: |
91-80-23548981 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
|
Name : |
Mr. Hari Kumar Kanchepalli |
|
Designation : |
Director |
|
Address : |
7 Anjandri Nilaya, |
|
Date of Birth/Age : |
05.06.1962 |
|
Date of Appointment : |
25.09.1992 |
|
|
|
|
Name : |
Mr. R. Jayanthi |
|
Designation : |
Director |
|
Address : |
960, 7th Main Ecr, 2nd Stage, Mahalakshmipuram, |
|
Date of Birth/Age : |
14.10.1956 |
|
Date of Appointment : |
25.09.1992 |
|
Date of Ceasing : |
10.10.2005 |
|
|
|
|
Name : |
Mr. Abdul Salam |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
10.08.1955 |
|
Date of Appointment : |
25.09.1992 |
|
Date of Ceasing : |
10.10.2005 |
|
|
|
|
Name : |
Mr. Sreenath Kanchepalli |
|
Designation : |
Director |
|
Address : |
7 Anjandri Nilaya, |
|
Date of Birth/Age : |
10.05.1966 |
|
Date of Appointment : |
01.04.2004 |
|
|
|
|
Name : |
Mr. Madhusudhan Kanchepalli |
|
Designation : |
Director |
|
Address : |
7 Anjandri Nilaya, |
|
Date of Birth/Age : |
04.06.1972 |
|
Date of Appointment : |
01.04.2004 |
|
|
|
|
Name : |
Mr. Jabeen Imtiaz |
|
Designation : |
Director |
|
Address : |
68, 14th Cross, 1st Block, R T Nagar, |
|
Date of Birth/Age : |
13.04.1955 |
|
Date of Appointment : |
05.06.2006 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
R. Jayanthi |
|
10 |
|
K. Hari Kumar |
|
10 |
|
K. Sreenath |
|
4990 |
|
K. Madhusudhan |
|
4990 |
|
Total |
|
10000 |
|
|
|
|
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Directors of relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the sales of Scientific Instruments,
Scientific Equipment, Dissecting Equipment, Burner Bunsen, Hoffmans
Voltameter, Microslides, Magnifiers. |
GENERAL INFORMATION
|
Bankers : |
UTI Bank # 174, MLA
Layout, R. T. Nagar, Main road, |
|
|
|
|
Banking Relations
: |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
P. Badari Nath Chartered Accountants |
|
Address : |
142/1, 1st Floor, Surveyor street, Basavanagudi, |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250,000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10,000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.100
Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2006 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.100 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.704 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
0.804 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
2.120 |
|
|
TOTAL BORROWING |
|
|
2.120 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2.924 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
1.879 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.838 |
|
|
Sundry Debtors |
|
|
6.957 |
|
|
Cash & Bank Balances |
|
|
0.011 |
|
|
Other Current Assets |
|
|
0.150 |
|
|
Loans & Advances |
|
|
2.711 |
|
Total
Current Assets |
|
|
10.667 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
|
8.420 |
|
|
Provisions |
|
|
1.214 |
|
Total
Current Liabilities |
|
|
9.634 |
|
|
Net Current Assets |
|
|
1.033 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.012 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2.924 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
|
31.03.2006 |
|
Sales Turnover [Estimated] |
|
|
3.000 |
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2006 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
|
14.62 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
1.11 |
LOCAL AGENCY FURTHER INFORMATION
|
Corporate
identity number of the company |
U01122KA1992PTC013564 |
|
Name of the
company |
JH BIO INNOVATIONS PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
567, 2nd Cross, 2nd Block, R T Nagar, |
|
This form is for |
Creation of charge |
|
Type of charge |
Hypothecation |
|
Particular of charge
holder |
UTI Bank # 174, MLA
Layout, R. T. Nagar, Main road, |
|
Nature of
instrument creating charge |
Hypothecation of
book debts and stock enclosed |
|
Date of
instrument Creating the charge |
30.06.2006 |
|
Amount secured by
the charge |
Rs. 7.500
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest
11 % One year or on
demand 25 % on book
dents and stock |
|
Description of
the property charged indicating whether it is a charged on |
|
|
Particulars of
the property charged |
E M of property a
site no. 68 15th Cross, 1st Block R T Nagar, Bangalore
32 Belonging to Mrs. Jabeen Imtiaz |
AS PER
WEBSITE
Single
-Step and Versatile Solution for DNA/RNA
An integrated system including high throughput DNA Analyzer, chemistry and easy-to-use
software that analyzes and interprets data, controls scheduling and performs
integration and data management of biological test results. The high
performance HDA-GT12™ DNA Analyzer, the gel cartridge and the BioCalculator™
software have been optimized to work together across wide vareity of DNA/RNA
applications.
The HDA-GT12 capillary electrophoresis system has integrated sample loading,
electrophoresis and data analysis in one single step, which provides unmatched
resolutions, speed and throughput for routine DNA/RNA work.
.
Intergrated
HDA-GT12 System Highlights
Automated samples handling
Hands free for samples loading
Reduces labor cost and increases laboratory productivity
Reduces manual handling errors
Replaceable gel cartridge
No need for gel preparation
Easy to use
Provides greater efficiency
Saves time and increases productivity Performance
Detection sensitivity
Detects as low 0.1ng/µl
More robust results with low levels of DNA
Fast Analysis
Average 7-10 minutes for 12 samples analysis
High resolution electrophoresis pattern for 96 samples
within 0.5-1.3hours
Increases laboratory productivity
Resolution
Up to 1-4 bp DNA fragments
Provides confidence in data interpretation
Special
Features
Multiplexed
fluorescence detection
The HDA-GT12 electrophoresis system uses multiplexed fluorescence
detection with solid-state light sources and micro-optical collectors. The
patented optical detection system reduces the cost and improves the reliability
of the instrument.
Gel Cartridge
The 4,8 and 12-channel
multi-usage capillary cartridges with integrated gel-chemistry are designed to
handle different samples capacity. With the use of these cartridges, the
HDA-GT12 analyzer can perform with high detection sensitivity, reproducibility
and right throughput saving of both time and money.
Biocalculator™
Software
The
BioCalculator™ software is a very powerful, flexible and user-friendly analysis
tool that has been designed to support wide variety of DNA/RNA applications.
The software has been optimized to work with the HDA-GT12 system and the gel
cartridge. The softwar offers interactive tools that simplifies analysis,
provides flexibility in viewing data, allows quick data interpretation,
controls scheduling, and performs integration and data management.
|
Specifications |
|
|
Modes of Operation |
Constant Voltage |
|
|
1-10kV |
|
Current |
1-400µamps |
|
Cartridge Temperature |
Ambient |
|
|
400-700nm, CE marked, UL & CSA
compliant |
|
Detector |
Light-induced Fluoresence |
|
Electrical |
100-230 VAC, 50/60 Hz, 360W |
|
Dimensins |
Widht-36cm, Depth-56cm, Height-39cm |
|
Weight |
Approximately 20kg |
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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] 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.40.34 |
|
|
1 |
Rs.83.08 |
|
Euro |
1 |
Rs.55.80 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--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 |
|
31 |
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 |
|