MIRA
INFORM REPORT
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Report Date : |
29.10.2007 |
IDENTIFICATION
DETAILS
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Name : |
PHARMALAB INDIA PRIVATE LIMITED |
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Registered Office : |
Star Metal Compound, L.B.S. Marg, Vikhroli (W), Mumbai – 400083,
Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
27.05.2004 |
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Com. Reg. No.: |
146580 |
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CIN No.: [Company
Identification No.] |
U29297MH2004PTC146580 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMP18163F |
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PAN No.: [Permanent
Account No.] |
AADCP2786Q |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business : |
Manufacturer of Health Care Food 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 24000 |
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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 company having satisfactory track. Trade
relations are fair. Payments are usually correct and as per commitments. The company can be considered normal for business dealings at usual
track terms and conditions. |
LOCATIONS
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Registered Office : |
Star Metal Compound, L.B.S. Marg, Vikhroli (W), Mumbai – 400083,
Maharashtra |
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Tel. No.: |
91-22-25782559 (Hunting ) |
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Fax No.: |
91-22-25792895 |
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E-Mail : |
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Website : |
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Head Office : |
Kasturi Sanghavi Estate, 3rd Floor, Govandi Station Road,
Govandi (E), Mumbai – 400088, Maharashtra, India |
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Tel. No.: |
91-22-66229900 / 66229977 |
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Fax No.: |
91-22-66229800 |
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E-Mail : |
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Regional Office : |
604, Shiromani, Opp. Ocean Park, Satellite Road, |
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Tel. No.: |
+91-79-26762398 |
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Fax No.: |
91-79-26748337 |
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E-Mail : |
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Regional Office : |
LB-5, Gauri Sadan,Building 5, Hailey Road,New
Delhi 110 001 |
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Tel. No.: |
+91-11-23319742 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Nitin Purushottam Shah |
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Designation : |
Director |
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Address : |
B/2, Pearl Queen, North Avenue, Santacruz, Mumbai – 400054,
Maharashtra |
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Date of Birth/Age : |
31.01.1951 |
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Date of Appointment : |
27.05.2004 |
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Name : |
Mrs. Bhavan N. Shah |
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Designation : |
Director |
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Address : |
B/2, Pearl Queen, North Avenue, Santacruz, Mumbai – 400054,
Maharashtra |
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Date of Birth/Age : |
05.12.1956 |
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Date of Appointment : |
27.05.2007 |
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Name : |
Mr. Karnik Kantilal Parikh |
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Designation : |
Director |
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Address : |
25, Jayant Mahal, D, road, Churchgate, Mumbai – 400020, Maaharashtra |
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Date of Birth/Age : |
05.12.1960 |
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Date of Appointment : |
06.08.2005 |
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Name : |
Mr. Umesh Purushottam Shah |
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Designation : |
Director |
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Address : |
A-11, Laxminarayan apt, Santacruz (W), Mumbai – 400 054, Maharashtra |
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Date of Birth/Age : |
13.11.1954 |
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Date of Appointment : |
06.08.2005 |
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KEY EXECUTIVES
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Name : |
Mr. Sunil Vaidya |
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Designation : |
Manager – Sales (Export) |
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Mobile No.: |
91-9892800609 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
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Mr. Nitin Purushottam Shah |
2450 |
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Mrs. Bhavan N. Shah |
2450 |
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Mr. Karnik Kantilal Parikh |
5000 |
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Mr. Rshmikant P. Shah |
2000 |
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Mr. toral R. Shah |
1500 |
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Ms. Minal R. Shah |
1500 |
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Mrs. Varsh R. Shah |
5000 |
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Mr. Jay Kirti Shah |
5000 |
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Mrs Jayashree Kirti Shah |
5000 |
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Mrs Nita K. Shah |
5000 |
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Mr. Vishal u. Shah |
5000 |
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Mr. Kunal U. Shah |
5000 |
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Mr. Mr. Pranjal N. Shah |
5100 |
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Total |
50000 |
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Equity Share
Break up |
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Percentage
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Directors or Relatives of Directors |
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100.00 |
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Total |
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100
% |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Health Care Food Products. |
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GENERAL
INFORMATION
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Bankers : |
Canara Bank Vikroli Branch, Mumbai -400 083 |
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Facilities : |
--- |
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Banking
Relations : |
Good |
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Auditors : |
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Name : |
Girish Bhavish Chartered Accountant |
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Address : |
301, Sun Beam, North Avenues, Santacruz (W), Mumbai – 400 054 |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Share |
Rs.10/- Each |
Rs.1.000 million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Share |
Rs.10/- Each |
Rs.0.500
million |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.500 |
0.500 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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5.663 |
0.223 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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6.163 |
0.723 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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0.000 |
0.000 |
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TOTAL BORROWING |
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0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
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0.063 |
0.028 |
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TOTAL |
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6.226 |
0.751 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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1.150 |
0.479 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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2.234 |
0.000 |
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Sundry Debtors |
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8.228 |
2.579 |
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Cash & Bank Balances |
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4.911 |
1.588 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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8.249 |
4.211 |
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Total
Current Assets |
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23.622 |
8.378 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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15.155 |
8.031 |
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Provisions |
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3.410 |
0.100 |
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Total
Current Liabilities |
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18.565 |
8.131 |
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Net Current Assets |
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5.057 |
0.247 |
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MISCELLANEOUS EXPENSES |
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0.019 |
0.025 |
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TOTAL |
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6.226 |
0.751 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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10.000 |
1.000 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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10.000 |
1.000 |
Summarized Profit and loss A/c Figure will follow soon.
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Debt Equity Ratio (Total Liability/Networth) |
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3.01 |
11.24 |
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Current Ratio (Current Asset/Current Liability) |
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1.27 |
1.03 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8
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Corporate
identity number (CIN) Foreign company registration number |
U29297MH2004PTC146580 |
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Name of the
Company |
PHARMALAB INDIA PRIVATE LIMITED |
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Address |
Star Metal Compound, L.B.S. Marg, Vikhroli (W), Mumbai – 400083,
Maharashtra |
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This form is for |
Creation of
Charge |
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Type of Charge |
Book debts Movable Property |
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Particulars of
the charge holder |
Canara Bank Vikroli Branch, Mumbai
– 400 083, Maharashtra Email Id : kamalax_saraf@hotmail.com |
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Nature or
description of the instrument creating or modifying the charge |
Hypothecation of
goods and book debts |
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Amount secured by
the charge |
Rs.2.800 millions |
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Brief of the
principal terms and conditions |
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Short Particular
of the property charged |
All the goods and
commodities raw material purchased for manufacturing pharmaceutical machinery
to be exported under the guarantee machineries : Sterlisers multi column
distilled water still etc. pure steam
generator noe lying or hereafter stored at the godowns, yards and premises
will be stored at various manufacturing units of Pharmalab Engineering India
Private Limited Associates of Pharmalab India Private Limited Plot No. 6 and
7 A, Sartej, Vadsar Road, Village Santoj, Taluka Kalol, Dist Ghandinagar |
Attached Web Details
It was in the year
1962 when 3 enterprising professionals joined hands to set up a packaging and
filtration equipment manufacturing plant in Mumbai, India to serve the needs of
the Pharmaceutical Industry. Since then, Pharmalab has come a long way.
Invaluable support and patronage of its customers encouraged the company to
manufacture equipment for not only the Pharmaceutical industry, but also
for the Agro-Chemicals, Food and Beverages, Distillery, Cosmetics
and other Allied industries.
To cater to the
increased quality demands of the customers and to conform with CGMP
standards, state-of-the-art manufacturing facilities were set up to
manufacture Water for Injection Systems, Sterilizers, Storage
and Reactor vessels, Filtration and Packaging equipment.
Technological advances in the field of Filtration were achieved through Pall
Pharmalab, a new joint venture company with PALL CORPORATION, a
world leader in filtration technology.
After four
glorious decades of constant up-gradation,
innovation and customization,
Pharmalab today, with a total turnover of US $15 million and being one
of the most reliable suppliers of Water for Injection Systems, Sterilizers,
liquid filtration, Process and Packaging equipment in India.
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.39.32 |
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UK Pound |
1 |
Rs.81.82 |
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Euro |
1 |
Rs.56.90 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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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 |
NO |
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--AFFILIATION |
YES/NO |
NO |
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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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51 |
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. |
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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