MIRA
INFORM REPORT
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Report Date : |
18.09.2007 |
IDENTIFICATION DETAILS
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Name : |
INTRA - LABS INDIA PRIVATE LIMITED |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
10.12.2004 |
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Com. Reg. No.: |
08-035211 |
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CIN No.: [Company
Identification No.] |
U24231KA2004PTC035211 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLR100532A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturing and Marketing of Pharmaceutical Formulations -
Therapeutic and Prophylactic |
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 16636 |
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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 experience 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. |
LOCATIONS
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Registered Office 1 : |
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Tel. No.: |
91-80-22287797 |
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E-Mail : |
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Website : |
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Head Office : |
43 / 44, P.S. Lane, B.R.D. Building, 1st Floor, Chickpet
Cross, Bangalore – 560053, Karnataka |
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Registered Office 2 : |
91-80-22872264 / 22216171 / 22287797 |
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Fax No.: |
91-80-22380826 |
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E-Mail : |
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Distribution Network : |
³ Jammu &
Kashmir ³ Uttar Pradesh ³ ³ Orrisa ³ Manipur ³ Tamilnadu ³ Kerala ³ Karnataka ³ Himachal Pradesh ³ Chattisgarh ³ Jharkhand ³ Madhya Pradesh ³ ³ Maharastra ³ Rajasthan ³ ³ Uttaranchal ³ ³ ³ Arunachal
Pradesh ³ Haryana ³ Meghalaya |
DIRECTORS
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Name : |
Mr. H. Parasmal |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
17.05.1948 |
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Date of Appointment : |
10.12.2004 |
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Name : |
Mr. Mukesh Kumar |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
19.05.1973 |
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Date of Appointment : |
10.12.2004 |
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Name : |
Mr. Rakesh Kumar |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
29.08.1976 |
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Date of Appointment : |
10.12.2004 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Mukesh Kumar |
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700 |
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Mr. H. Parasmal |
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700 |
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Mr. Rakesh Kumar |
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700 |
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Category |
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Percentage of
Holding |
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Directors or Relatives of Directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing and Marketing of Pharameceutical Formulations - Therapeutic
and Prophylactic |
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Products : |
²
Antibiotics, Antibacterial,
Antifungal ²
Multivitamins, Minerals,
Antioxidants ²
Diabetic ²
Antihistamine, Cough,
Anti-Asthamatic |
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GENERAL INFORMATION
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Bankers : |
Not Applicable |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Mr. Parasmal Kankriya Chartered Accountants |
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Address : |
P.M. Kankriya, Vinay Complex, 2nd Floor, 802, Chickpet, |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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30000 |
Equity Shares |
Rs.10/- each |
Rs.3.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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9000 |
Equity Shares |
Rs.10/- each |
Rs.0.900
million |
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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0.900 |
0.210 |
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2] Share Application Money |
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0.000 |
0.315 |
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3] Reserves & Surplus |
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3.259 |
0.214 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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4.159 |
0.739 |
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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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0.628 |
0.000 |
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TOTAL BORROWING |
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0.628 |
0.000 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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4.787 |
0.739 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.946 |
0.083 |
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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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22.021 |
6.357 |
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Sundry Debtors |
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3.439 |
1.969 |
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Cash & Bank Balances |
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0.931 |
0.557 |
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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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1.627 |
0.224 |
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Total
Current Assets |
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28.018 |
9.107 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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22.472 |
8.426 |
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Provisions |
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1.785 |
0.114 |
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Total
Current Liabilities |
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24.257 |
8.540 |
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Net Current Assets |
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3.761 |
0.567 |
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MISCELLANEOUS EXPENSES |
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0.080 |
0.089 |
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TOTAL |
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4.787 |
0.739 |
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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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81.646 |
9.813 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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81.646 |
9.813 |
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Profit/(Loss) Before Tax |
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4.830 |
0.328 |
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Provision for Taxation |
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1.785 |
0.114 |
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Profit/(Loss) After Tax |
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3.045 |
0.214 |
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Expenditures : |
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76.816 |
9.485 |
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Total Expenditure |
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76.816 |
9.485 |
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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3.72 |
2.18 |
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Net Profit Margin (PBT/Sales) |
(%) |
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5.91 |
3.34 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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16.67 |
3.56 |
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Return on Investment (ROI) (PBT/Networth) |
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1.16 |
0.44 |
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Debt Equity Ratio (Total Liability/Networth) |
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5.83 |
11.55 |
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Current Ratio (Current Asset/Current Liability) |
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1.15 |
0.02 |
LOCAL AGENCY FURTHER INFORMATION
As Per Web
Details:
Company Profile:
Subject is involved in
the manufacturing and marketing of Pharameceutical Formulations - Therapeutic
and Prophylactic since 1981
They have GMP accredited and manufacturing facility
specialities patented in accordance with WHO norms.
Their Company has a wide range of Marketing Network
throughout the country to cadre with easy accessibility to their clients.
Subject has chosen the path of providing truly
world class quality products at affordable prices to contribute significantly
towards this theme.
Vision
They strive to serve unmet medical needs by developing and constantly
seeking breakthroughs that will touch the new horizons of Healthcare for Next
Generation.
The Company is backed by a team of professional’s takes
complete responsibilities & dedication in Human Health Care
They are well recognized by major Drug Magazines like CIMS,
IDR, Drug Index, Pharma Biz, Drug Today, Medical Darpan, Pharma Pulse, etc.,
Products
Their range of Therapeutic and Prophylactic
products cater to various health segments such as Anti-infective, Nutritional deficiencies-Vitamins,
Nutritional Food Supplements, Iron deficiency, Disorders, Ulcers, Diarrhea,
Stomach Worms, Asthma, Cough & Cold, Typhoid, Hypertension, Cardio
Vascular, Pain Management, Muscle-Relaxants, Arthritis, Anxiolytics,
Anti-depressants, Hormonal, Haemostatics and with exclusive Pediatrics range.
They have full fledged products in latest and Next
Generation Molecules in various segments with exclusive packaging.
Manufacturing
Facility
State-of-the Art manufacturing facility
conforming to GMP standards. Manufactures finished formulations, Tablets,
Capsules, Syrups, Suspensions, Dry Syrups, Dispersible Tablets, Sustained
Released Pellets, Ointments, Lotions, Injectables, Eye/Ear/Nose Drops and
Protein Powders. Manufacturing Staff of Highly dedicated, Well qualified and
experienced chemists to produce the best quality products.
Documentation - All aspects of raw material analysis, in process quality
control, finished good quality control are fully monitored to ensure
medicaments of highest quality and purity.
Independent Quality Assurance Department eqipped with sophisticated
analytical instruments and trained personnel who ensure high standards of
quality from raw material to packings and finished products.
Market Presence
In India we have throughout the Country 200 Primary Distributor, over
2000 retailers-supported by a team of about 5000 Health Centers with a basket
of over 300 Latest Products. We are also in action by negotiating with buyers
throught world wide.
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] 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.40.47 |
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1 |
Rs.81.07 |
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Euro |
1 |
Rs.56.17 |
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 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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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45 |
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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