MIRA
INFORM REPORT
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Report Date : |
19.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
CONCEPT PHARMACEUTICALS LIMITED
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Registered Office : |
167,CST Road, Kalina, Santacruz (East), Mumbai - 400 0098, Maharashtra, India |
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Country : |
India |
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Financials (as on) : |
30.09.2005 |
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Date of Incorporation : |
20.03.1979 |
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Com. Reg. No.: |
11-21126 |
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CIN No.: [Company
Identification No.] |
U24239MH1979PTC021126 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMC00430D |
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Legal
Form : |
It is a closely held public limited liability company. |
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Line of Business : |
The company is engaged in manufacturing of bulk drugs, tablets, capsules, liquids, injections, creams powder and allopathic pharmaceutical preparations. |
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 1500000 |
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Status : |
Satisfactory |
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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 company having satisfactory track. Directors are reported as experiences and respectable business. 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 terms and conditions. |
LOCATIONS
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Registered Office : |
167, CST Road , kalian , Santacruz (East ), Mumbai -400098 Maharastra |
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Tel. No.: |
91-22- 26528888 |
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Fax No.: |
91-22- 26525800 |
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E-Mail : |
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Location : |
Leased |
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Head Office : |
167,CST Road, Kalina, Santacruz (East), Mumbai - 400 0098 |
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Tel. No.: |
91-22- 26528888 |
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Fax No.: |
91-22- 26525800 |
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E-Mail : |
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Factory 1 : |
28/3, MIDC, Chikalthana, Aurangabad, Maharashtra |
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Depots : |
Located At : Ahmedabad, Mumbai, Calcutta, Cuttack, Gauhat, Hyderabad, Indore, Jaipur, Lucknow, Chennai, Naini, Daman, Patna and Patiala |
DIRECTORS
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Name : |
Mr. Adhyatma Bandhu Pyarelal
Gupta |
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Designation : |
Chairman Cum Managing Director |
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Address : |
69 Hatkesh Co.Op. Hsg Society jvpd Scheme Mumbai . Vile Parle 400049 |
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Date of Birth/Age : |
10/12/1946 |
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Date of Appointment : |
27/12/1984 |
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Name : |
Mrs. Rekha AdhyatmaBandhu Gupta |
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Designation : |
Whole Time Director , S –secretary , R – Manager |
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Address : |
69 Hatkesh Co.Op. HSG Society JVPD Schene Mumbai 400049 |
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Date of Birth/Age : |
16/06/1954 |
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Date of Appointment : |
09/07/1986 |
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Name : |
Mr. Prakash Ved Kumar |
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Designation : |
Director , M Mamaging Director |
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Address : |
M 229 Gremater Kailash II New
Delhi 110048 |
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Date of Birth/Age : |
03/03/1929 |
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Date of Appointment : |
29/09/1995 |
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MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
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AdhyatmaBandhu Pyarelal Gupta |
1440 |
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Rekha Adhyatma bandhu Gupta |
2160 |
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Sangeet Gupta |
4320 |
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BUSINESS DETAILS
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Line of Business : |
The company is engaged in manufacturing of bulk drugs, tablets, capsules, liquids, injections, creams powder and allopathic pharmaceutical preparations. |
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Products : |
The Generic Names of the Principal Products of the Company are as under :
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GENERAL
INFORMATION
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No. of Employees : |
750 |
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Bankers : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
S. S. Kapoor & Company Chartered Accountants 157-161, Princess Street, Mumbai - 400 002 |
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Associates/Subsidiaries : |
Ø Concept Laboratories Private Limited Ø Dynamic Machines Private Limited Ø Concept Polymers Private Limited Ø Concept Pharma Equipments Private Limited Ø Kurla Investments & Trading Company Private Limited Ø Adhyatma Investment Private Limited Ø Sanjana Holding Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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16000000 |
Equity Shares |
Rs.10/- each |
Rs.160.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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12000000 |
Equity Shares |
Rs. 10 /-
each |
120.000
millions |
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
30.09.2005 |
30.09.2004 |
30.09.2003 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
120.000 |
120.000 |
30.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
302.211 |
293.793 |
206.40 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
422.211 |
413.793 |
236.400 |
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LOAN FUNDS |
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1] Secured Loans |
187.990 |
167.455 |
164.70 |
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2] Unsecured Loans |
53.560 |
59.739 |
60.900 |
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TOTAL BORROWING |
241.550 |
227.194 |
225.600 |
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DEFERRED TAX LIABILITIES |
17.058 |
5.776 |
0.000 |
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TOTAL |
680.765 |
646.763 |
462.000 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
163.641 |
171.476 |
112.700 |
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Capital work-in-progress |
84.508 |
59.908 |
0.000 |
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INVESTMENT |
15.244 |
16.618 |
18.500 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
190.257
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184.578
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151.800 |
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Sundry Debtors |
278.114
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282.253
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265.700 |
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Cash & Bank Balances |
19.513
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15.220
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30.200 |
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Other Current Assets |
0.000
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0.000
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0.000 |
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Loans & Advances |
55.590
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63.910
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51.400 |
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Total
Current Assets |
543.474
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545.961 |
499.100 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
111.365
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134.670
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160.500 |
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Provisions |
14.737
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12.530
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07.800 |
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Total
Current Liabilities |
126.102
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147.200 |
168.300 |
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Net Current Assets |
417.372
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398.761 |
330.800 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
680.765 |
646.763 |
462.000 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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30.09.2003 |
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Sales Turnover |
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884.200 |
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Other Income |
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33.000 |
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Total Income |
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91.720 |
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Profit/(Loss) Before Tax |
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42.000 |
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Provision for Taxation |
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06.000 |
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Profit/(Loss) After Tax |
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36.000 |
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Manufacturing Expenses |
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38.600 |
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Administrative Expenses |
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12.920 |
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Raw Material Consumed |
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46.570 |
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Salaries, Wages, Bonus, etc. |
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70.500 |
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Interest |
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15.300 |
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Power & Fuel |
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06.800 |
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Depreciation & Amortization |
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46.900 |
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Other Expenditure |
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60.400 |
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Total Expenditure |
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368.560 |
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KEY RATIOS
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PARTICULARS |
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30.09.2005 |
30.09.2004 |
30.09.2003 |
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PAT / Total Income |
(%) |
NA
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NA |
39.25 |
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Net Profit Margin (PBT/Sales) |
(%) |
NA
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NA |
0.45 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
NA
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NA |
6.86 |
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Return on Investment (ROI) (PBT/Networth) |
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NA
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NA |
17.76 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.87
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0.90 |
1.67 |
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Current Ratio (Current Asset/Current Liability) |
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4.31
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3.70 |
0.34 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8 Particular for creation or modification of
charges
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Name of the company |
M/S CONCEPT PHARMACEUTICALS LTD |
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Presented By |
BANK
OF BARODA , ARVIND NABAR , KALINA
KURLA ROAD , SANTACURZ (EAST ) MUMBAI -400029 |
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1) Date and description of instrument creating the change |
Hypothecation of Book – Debts dated 6.9.1996 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 350.000 million |
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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 |
The borrower hereby hypothecates in favour of the bank all the book – debts, now owing to the Barrower and also the book – debts which any at my ting during the continuance of this security become owing to the Barrower in the course of its business by any person, firm, company, or body corporate, or by the Government Central or State or Indian Railway or any Govt. Dept. office or any Municipal or local or any Public semi – Govt. Body or authority or any body corporate or undertaking or project whatever in the public sector as security for the payment to the barrower on the said cash credit hypothecation of boo- Debts account. All such present and future book – debts here by hypothecated arev hereinafter referred to as “the hypothecated premises”. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
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5) Name and Address and description of the person entitled to the charge. |
BANK OF BARODA , KALIN KURLA ROAD , ARVIND NAGAR , SANTACRUZ (EAST) MUMBAI 400029. |
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6) Date and brief description of instrument modifying the charge |
N.A. |
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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. |
N.A. |
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The company is engaged in manufacturing of bulk drugs, tablets, capsules, liquids, injections, creams powder and allopathic pharmaceutical preparations.
The company exports its products through Concept International, a recognised export house.
The company's fixed assets of important value include leasehold land, freehold land, factory building, residential building, plant, machinery and equipments, furniture, fixtures and fittings, vehicles and computers.
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 |
7 |
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--PROFITABILIRY |
1~10 |
5 |
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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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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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