MIRA
INFORM REPORT
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Report Date : |
02.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
OCTIS RESEARCH LABORATORIES PRIVATE LIMITED |
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Registered Office : |
14/7, Malar Apartments, 2nd West Main Road, Shenoy Nagar,
Chennai – 600030, Tamilnadu |
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Country : |
India |
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Date of Incorporation : |
05.04.2006 |
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Com. Reg. No.: |
59437 |
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CIN No.: [Company
Identification No.] |
U01117TN2006PTC059437 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEO03606B |
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PAN No.: [Permanent
Account No.] |
AAACO8233A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturing of all sorts of tablets and hard gelatin capsule |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
New Company |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively new company and has not published its first
financials till date. The company has been successful in obtaining good
amount of loans from its bankers. Trade relations are fair. Payments are
reported as slow but correct. The company can be considered for small to mediocre business dealings,
with slight caution, initially. |
LOCATIONS
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Registered Office : |
14/7, Malar Apartments, 2nd West Main Road, Shenoy Nagar,
Chennai – 600030, Tamilnadu, India |
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E-Mail : |
enquiries@octis.in ; octis_vjt@yahoo.co.in ; nostrumravi@yahoo.co.in |
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Website : |
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Head Office : |
72, N – Block, 153/24, Lotus Colony, Anna Nagar [West], Chennai –
600102, Tamilnadu, India |
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Corporate Office : |
IHFD Abodes, 4/1 Third Main Road, Shenoy Nagar [West], Chennai – 600030,
Tamilnadu, India |
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Tel. No.: |
91-44 – 2621 4462 |
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Fax No.: |
91-44 - 4203 2676 |
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Factory : |
Located at : Selaqui – Dehradun |
DIRECTORS
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Name : |
Mr. B.
Balachandar |
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Designation : |
Chairman |
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Name : |
Mr. R. Ravichandran |
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Designation : |
Managing Director |
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Address : |
14/7, Malar Apartments, 2nd West Main Road,
Shenoy Nagar, Chennai – 600030, Tamilnadu, India |
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Date of Birth : |
05.02.1968 |
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Name : |
Mr. V.T. Ananthanarayanan |
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Designation : |
Works Director |
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Name : |
Mr. S.K. Ganesh |
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Designation : |
Executive Director |
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Address : |
72, N Block, 153/24, Lotus Colony, Anna Nagar, Chennai –
600102, Tamilnadu, India |
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Date of Birth : |
14.01.1969 |
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Name : |
Mr. Balaguru K |
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Designation : |
Directors |
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Name : |
Mr. Harikrishnan R |
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Designation : |
Directors |
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Name : |
Mr. Karthik Prabhu M |
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Designation : |
Directors |
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Name : |
Mr. Karuppiah A.L |
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Designation : |
Directors |
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Name : |
Mr. Thanigaivel R |
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Designation : |
Directors |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
List of Allottees on 23.08.2006
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Names of Shareholders |
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No. of Shares |
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R. Ravichandran |
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10000 |
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Radhika Ravichandran |
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10000 |
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V T Anantha Narayanan |
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10500 |
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K. Balaguru |
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20000 |
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S. S. Sriram |
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10000 |
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B. Balachandar |
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20000 |
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S. K. Ganesh |
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22000 |
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P. Senthilkumar |
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30000 |
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V. Murugesan |
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20000 |
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R. Thanigaivel |
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20000 |
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Ezhilarasi Thanigaivel |
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10000 |
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O. S. Kumaran |
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10000 |
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B. Venugopal |
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30000 |
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R. Harikrishnan |
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27500 |
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A. L. Karuppiah |
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20000 |
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A. Velappan |
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20000 |
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M. Saravanan |
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20000 |
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P. L. Kannan |
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50000 |
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M. Karthikprabu |
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50000 |
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J. Rajasaravanan |
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10000 |
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N. P. Suresh Babu |
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10000 |
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T. Asaithambi |
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20000 |
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S. Pazhaniappan |
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20000 |
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S. Balaji |
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20000 |
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M. Paramasivam |
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20000 |
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M. Anbukkarasu |
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20000 |
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R. Baskaran |
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20000 |
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D. S. Shanjay |
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20000 |
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S. Vasudevan |
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10000 |
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Ravikandasamy |
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20000 |
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Hemalatha Ravi |
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10000 |
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D. Karthy |
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20000 |
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Deepak Saha |
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10000 |
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Latha Kumaran |
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10000 |
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R. Sivakumar |
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10000 |
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R. Rajasundaram Sivakumar |
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10000 |
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S. Rajaram |
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10000 |
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R. Ganesan |
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10000 |
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A. Sathyamurthi |
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10000 |
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K. Balakumar |
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10000 |
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N. Balasubramanian |
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30000 |
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G. Gowri |
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10000 |
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Total |
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750000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing of all sorts of tablets and hard gelatin capsule |
GENERAL
INFORMATION
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Customers : |
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Bankers : |
Axis Bank Limited, Trishul 3rd Floor, Opposite Samartheshwar
Temple, Law Garden Ellisbridge, Ahmedabad – 380006, Gujarat, India |
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Banking
Relations : |
Satisfactory |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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750000 |
Equity Shares |
Rs. 100/- each |
Rs. 75.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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23500 |
Equity Shares |
Rs. 100/- each |
Rs. 2.350
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
Not Available
LOCAL AGENCY
FURTHER INFORMATION
Bankers Charges
Report as per Registry
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This form is for |
Creation of
charge |
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Corporate
identity number of the company |
U01117TN2006PTC059437 |
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Name of the
company |
OCTIS RESEARCH LABORATORIES PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
14/7, Malar Apartments, 2nd West Main Road, Shenoy Nagar,
Chennai – 600030, Tamilnadu, India |
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Type of charge |
Movable Property |
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Particular of
charge holder |
Axis Bank Limited, Trishul 3rd Floor, Opposite
Samartheshwar Temple, Law Garden Ellisbridge, Ahmedabad – 380006, Gujarat,
India |
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Nature of
description of the instrument creating or modifying the charge |
Cash Credit of Rs. 2.500 Millions for financing the working capital
requirement of the unit against first charge on current and movable fixed
assets and other security as guarantee cover under CGTSI scheme and personal
guarantee of the promoters. |
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Date of
instrument Creating the charge |
14.08.2007 |
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Amount secured by
the charge |
Rs. 2.500
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest At Bank’s PLR
presently at 15 % p.a. payable monthly Terms of
Repayment On demand Margin Margin on Stocks
25 % and receivables upto 60 days will be eligible for drawing power
calculations. Extent and
Operation of the charge To the extent of
outstanding amount plus other charges. Others Stock statements
to be submitted quarterly Any excess drawing
or irregularity on account of nonpayment of interest / charge / instalment
will attract penal interest of Rs. 2 % p.a. Security charged
to bank including stock, movable fixed assets etc. should be comprehensively
insured with bank clause and policy document to be submitted to bank. |
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Short particulars
of the property charged |
First charge on
current asset and movable fixed assets |
AS PER WEBSITE
Location:
OCTIS factory is
situated at Selaqui – Dehradun a lovely & scenic valley and the capital of
Uttarakhand. It maintains a pleasant climate with standard temperature of 5 to
30 degrees.
The factory is closer to the “Pharma City” and is exclusively designed for
pharmaceutical manufacturing.
Of course it is in the
“Tax free zone” thus there is no Excise Duty & Sales Tax. The co-operation
& support by the concerned government authorities are very good &
congenial.
Steering Team:
It is a unique joint
venture of people with seasoned experience & expertise in all the spheres
of Pharmaceutical Industry. The team comprises of Entrepreneurs, Production
Chemists, Quality Control Chemists, Production Coordinators, Teaching
Faculties, Marketing Managers, Sales Executives, Administrative Officers, Plant
Managers, etc.,
Profile
The company is
managed by professionally qualified team.
MANAGEMENT
Chairman
Mr. B.
Balachandar
A B. Pharm from
Madurai Medical College has more than 3 decades of experience in Marketing
& Management. He was the founder Director of Tristar Formulations Private
Limited, & is the CEO of Universal Biomedics which imports & markets
super specialty surgical devices & equipments in India & Sri Lanka. He
is also Director of Pharma Guide which has guided sizable number of Pharma
marketing companies. He has conducted many training & development programs
and was a teaching faculty for SISI.
Managing Director
Mr. R.
Ravichandran
A B. Pharm from
Annamalai University has production exposure in various section of
Pharmaceutical production. He has got overseas management experience. His
practical expertise steers M/s Nostrum for which he is the sole proprietor.
OCTIS is his brain child.
Works Director
Mr. V.T.
Ananthanarayanan
A B. Pharm
from Annamalai University has a wide production experience in various section
of Pharmaceutical production. He has volunteered to be in OCTIS for state of
the art production. He is in the site & involves in the production
activity.
Executive
Director
Mr. S.K. Ganesh
A B. Pharm from Annamalai
University has production exposure in various section of Pharmaceutical
production. .He has got overseas management experience. He has
volunteered to be in OCTIS for administration. He is in the site & involves
in Administrative activity.
Directors
Mr. Balaguru. K
Managing Director of
“Ostics” & Pharma Remedies has a rich experience in the Pharma industry
having good expertise in Sales, Administration & Human relations.
Mr. Harikrishnan.
R
Managing partner of
“Yamuna Roto Prints” has a rich experience of 23 years in the aluminium cap and
foil business.
Mr. Karthik
Prabhu. M
A B. Pharm from
Ultra College of Pharmacy & MBA from Kamaraj University is MD of “Bharath
Biologicals”, “Star Biotech”, & “Nectar Herbal Research Laboratories”. He
has a rich experience in the Sales & Administration of Pharmaceutical
Industry.
Mr. Karuppiah.
A.L
A B.Com graduate
with twenty-one years of pharmaceutical products marketing experience and M.D
of “New Dawn Pharmaceuticals”
Mr. Thanigaivel R
A B. Pharm from
Annamalai University is MD of “Genera laboratories”. He has rich experience in
the Sales & Administration of Pharmaceutical industry.
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.39.97 |
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UK Pound |
1 |
Rs.79.53 |
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Euro |
1 |
Rs.63.09 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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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27 |
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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