MIRA
INFORM REPORT
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Report Date : |
17:03:2007 |
IDENTIFICATION
DETAILS
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Name : |
V H B LIFESCIENCES INC |
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Registered Office : |
40-B, Shanker Smruti Building, Near Hotel Midtown Pritam, Sir
Bhalchandra Road, Dadar , Mumbai – 400 014 |
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Country : |
INDIA |
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Financials (as on) : |
31:03:2007 |
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Date of Incorporation : |
1946 |
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Legal Form : |
A Partnership Concern with an unlimited liability of the partners |
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Line of Business : |
Manufacturer, Trader, Exporter and Importer of
Pharmaceutical products. |
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 400000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed concern having fine
track. Partners are reported as experienced, respectable and resourceful businessmen. Their trade
relations are fair. The concern is doing very well. The concern can be
considered good for normal business dealings. It can be reported as a
promising business partner in a medium to long run. This record was up-dated
by Mr. Ashok Shetty of the concern in absence of partner. |
LOCATIONS
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Registered Office : |
40-B, Shanker Smruti Bldg., Near Hotel Midtown Pritam, Sir Bhalchandra
Road, Dadar , Mumbai – 400 014 |
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Tel. No.: |
91-22-24161006 |
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Fax No.: |
91-22-24108346 |
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E-Mail : |
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Website : |
http://www.vhbgroup.com |
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Area : |
600 Sq. ft. |
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Location : |
Owned |
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Factory : |
Located at 12 different places. |
PARTNERS
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Name : |
Mr. Vipul Bhagat |
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Designation : |
Partner |
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Name : |
Mr. R. C. Bhagat |
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Designation : |
Partner |
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Name : |
Mrs. Hansaben R. Bhagat |
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Designation : |
Partner |
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Name : |
Mst. Karan V. Bhagat (Minor) |
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Designation : |
Partner |
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Name : |
Mst. Kush H. Bhagat (Minor) |
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Designation : |
Partner |
KEY EXECUTIVES
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Name : |
Ms. Anju S. Gupta |
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Designation : |
Managing Director |
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BUSINESS DETAILS
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Line of Business : |
Manufacturer, Trader, Exporter and Importer of Pharmaceutical products. |
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Products : |
Pharmaceuticals Products |
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Agencies Held : |
v Grindex- Latvia (E.C.) v Korea United Pharm Inc. – South Korea v Korea Green Cross Corporation – South Korea v Keystone Pharmaceuticals Inc. – USA v Pharma Zentral – Germany v Rotexmedica GmbH- Germany v Tae Yeong CnL – South Korea v United Gintek America Inc. – USA v United Douglas Pharm Inc. – USA v Changchun Invested of Biological Products , China v Sichuan Yuanda, Shyyanse, Pharmaceutical Company Limited, China v Shenzhen Sciprogen Biopharmaceutical Company Limited, China v Hangzhou Jiuyuan Gene Engineering Company Limited, China |
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Exports : |
Europe and South East Asia |
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Imports : |
China, Germany, Korea and Latvia |
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Terms : |
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Selling : |
L/C, Cash , Credit ,T/T or D/A (90 days) terms |
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Purchasing : |
D / A Terms |
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GENERAL
INFORMATION
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Customers : |
Wholesaler |
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No. of Employees : |
Around 2500 |
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Bankers : |
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Bank of Baroda , Matunga (C. R. ), Mumbai – 400 019 |
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Facilities : |
The concern is reported to enjoy large facilities from bank Cash Credit – Rs.200.000 Millions |
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Banking
Relations : |
Satisfactory |
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 100.000 Millions |
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Borrowed : |
-- |
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Total : |
Rs.100.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2007 |
31.03.2006 |
31.03.2004 |
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Sales Turnover |
2000.000 |
1800.000 |
1000.000 |
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LOCAL AGENCY FURTHER
INFORMATION
HISTORY
Subject was originally established in the year 1946 as V.H.Bhagat and Company and than in the year 2000 it was reorganized and given a new name.
It is in trade terms with :
v Bayer AG- Germany
v Biochemie GmbH –Austria
v Bristol Myers and Squibb – USA
v Egis Pharma – Hungary
v Ferring GmbH- Germany
v Glenwood Laboratories – U.K.
v Merck Sharp Dohme – Italy
v Pasteur Merieux- France
v Rhone Poulenc – U.K.
v Roche - Switzerland
v Sandoz Laboratories – U.K.
v Sumitomo Corp. – Japan
v Shin Poong Pharma – Korea
v Sidmak Laboratories Inc. – USA
v Wellcome Foundation – U.K.
Given Name of Mr. Hitesh Bhagat and Ms. Anupama Bhagat are incorrect. They are non-resident Indian stationed in USA and also the relative of partner of subject.
Their son Master Kush Hitesh Bhagat is minor partner in the concern.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.17 |
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UK Pound |
1 |
Rs.85.58 |
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Euro |
1 |
Rs.58.67 |
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 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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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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54 |
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 |
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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 |
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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 |
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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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<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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