MIRA
INFORM REPORT
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Report Date : |
11.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
GETWELL LIFE SCIENCES INDIA PRIVATE LIMITED |
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Registered Office : |
B – 167, Greater Kailash Part – I, New Delhi – 110048 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
01.09.2004 |
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Com. Reg. No.: |
55-128728 |
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CIN No.: [Company
Identification No.] |
U24239DL2004PTC128728 |
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IEC No.: |
0504073541 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
07720280406 |
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PAN No.: [Permanent
Account No.] |
AACCG2082K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturing and Marketing of Anti Cancer Drugs |
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 38000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. The
company has steady business. Trade relations are fair. Payments are usually
correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Laxsmi Kant |
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Designation : |
Accountant |
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Date : |
02.08.2008 |
LOCATIONS
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Registered Office : |
B – 167, Greater Kailash Part – I, New Delhi – 110048 |
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Head Office : |
305, Bakshi House, 40-41 Nehru Place, New Delhi – 110019 |
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Tel. No.: |
91-11-41608950/41608951/41608952 |
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Fax No.: |
91-11-41630749 |
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E-Mail : |
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Website : |
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Area : |
1300 Sq. ft |
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Location : |
Rented |
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Factory 1 : |
474, Udyog Vihar, Phase – IV, Gurgaon, Haryana |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Suresh Pathak |
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Designation : |
Director |
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Address : |
B -1/158, FF Malviya Nagar, New Delhi – 110017 |
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Date of Birth/Age : |
58 Years |
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Qualification : |
Pharmacy and Management Graduate from B.I.T.S. Pilani |
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Experience : |
30 Years |
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Date of Appointment : |
01.09.2004 |
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Profile : |
Mr. Pathak has been in the field of pharmaceuticals for more than 30 years and has an impressive track-record. He has held several senior level national and international assignments in leading pharmaceutical companies. Prior to moving over to GLS, he was Vice President - S&M with Zydus Cadila. Mr.Pathak's exemplary leadership was instrumental in the meteoric rise of Dabur Pharma Ltd. during his stint of over 8 years as Strategic Business Unit Head.
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Name : |
Mr. Rajiv Tandon |
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Designation : |
Director |
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Address : |
128 Defence Enclave, New Delhi – 110092 |
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Date of Birth/Age : |
60 Years |
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Qualification : |
Post Graduate in Pharmacy from B.I.T.S. Pilani |
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Experience : |
32 Years |
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Date of Appointment : |
01.09.2004 |
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Profile : |
A post graduate in pharmacy from B.I.T.S Pilani, Mr.
Tandon started his career with Ranbaxy. Within Ranbaxy Mr. Tandon worked with
production and R&D departments. He later moved to the public sector giant
IDPL. A wide exposure, expertise in parenteral dosage forms and a strong
production management background in such large corporations propelled him
towards entrepreneurship early in life. He started with the manufacturing
unit of Getwell Pharmaceuticals at Gurgaon in 1989. Under the leadership of
Mr. Rajiv Tandon, Getwell has been a trusted contract manufacturer for many
years for pharma majors like Cipla, Cadila Pharma and Dabur |
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Name : |
Mr. Rajiv Nath Rekhi |
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Designation : |
Director |
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Address : |
C – 2, Chirag Enclave, New Delhi – 110048 |
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Date of Birth/Age : |
52 Years |
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Qualification : |
Post Graduate in Economics from Delhi School of Economics and Possesses
Postgraduate Management qualification from Asian Institute of Management
Philippines |
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Experience : |
25 Years |
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Date of Appointment : |
01.09.2004 |
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Profile : |
A well known figure in the real estate business of the National
Capital Region of Delhi, Mr. Rekhi belongs to a family of pioneers in hotel
industry in Delhi. Mr.Rekhi is a post graduate in economics from Delhi School
of Economics and possesses postgraduate management qualification from Asian
Institute of Management, Philippines. The company's finance operations are
immensely benefited with Mr. Rekhi's foresight and investment skills.
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MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
AS ON 31.03.2007
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Names of Shareholders |
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Percentage of
Holding |
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Mr. Suresh Pathak |
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33.3% |
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Mr. Rajiv Tandon |
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33.3% |
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Mr. Rajiv Nath Rekhi |
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33.3% |
BUSINESS DETAILS
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Line of Business : |
Manufacturing and Marketing of Anti Cancer Drugs |
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Products : |
Advanced
Cytotoxic Chemotherapy Drugs |
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Brand Names : |
‘GETWELL’ |
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Exports : |
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Countries : |
Cambodia, Nigeria, Zimbabwe and Bhutan |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL
INFORMATION
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Customers : |
South o Adyar Cancer Institute, Chennai North o All India Institute of Medical Sciences,
Delhi West o Tata Memorial Hospital, Mumbai East o Chitranjan National Cancer Institute,
Kolkata |
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No. of Employees : |
50 |
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Bankers : |
ICICI Bank, Nehru Place, New Delhi – 110019 |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
M/s. Devendra K Mishra and Company Chartered Accountant |
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Address : |
F – 307, Ashish Complex, Mayur Vihar, New Delhi |
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Memberships : |
Pharmexicl |
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Associates/Subsidiaries : |
Sai Phytoceuticals Private Limited Address – S – 553, Greater Kailash Part – II, New Delhi – 110048 Tel. No. 91-11-29222188 Fax. No. 91-11-29224480 E. Mial.: info@saiphyto.com Website: http://www.saiphyto.com Line of Business - Manufacturing and Marketing of Anti Cancer Drugs |
CAPITAL STRUCTURE
AS ON 31.03.2007
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1,000,000 |
Equity Shares |
Rs. 10/- Each |
Rs. 10.000
Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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999,99 |
Equity Shares |
Rs. 10/- Each |
Rs. 0.999 Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.999 |
0.999 |
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2] Share Application Money |
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1.500 |
1.500 |
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3] Reserves & Surplus |
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5.268 |
0.330 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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7.767 |
2.829 |
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LOAN FUNDS |
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1] Secured Loans |
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2.940 |
3.582 |
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2] Unsecured Loans |
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2.350 |
2.350 |
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TOTAL BORROWING |
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5.290 |
5.932 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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13.057 |
8.761 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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1.700 |
0.962 |
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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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7.242 |
5.366 |
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Sundry Debtors |
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23.350 |
8.423 |
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Cash & Bank Balances |
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0.806 |
1.140 |
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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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2.420 |
1.187 |
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Total
Current Assets |
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33.818 |
16.116 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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16.700 |
6.629 |
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Provisions |
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5.898 |
1.745 |
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Total
Current Liabilities |
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22.598 |
8.374 |
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Net Current Assets |
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11.220 |
7.742 |
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MISCELLANEOUS EXPENSES |
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0.137 |
0.057 |
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TOTAL |
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13.057 |
8.761 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Debt Equity Ratio (Total Liability/Networth) |
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3.59 |
5.05 |
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Current Ratio (Current Asset/Current Liability) |
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1.49 |
1.92 |
LOCAL AGENCY
FURTHER INFORMATION
Trustseal Acceptance
Chart
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Existence Verification |
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Name |
GETWELL LIFE SCIENCES INDIA PRIVATE LIMITED |
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Address |
305, Bakshi House, 40-41 Nehru Place, New Delhi – 110019 |
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Phone/ Mobile Numbers |
91-11-41608950/41608951/41608952 |
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Fax Numbers |
91-11-41630749 |
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Statutory Approvals |
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Legal Status of Firm |
Private Limited Liability Company |
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Income Tax Registration |
AACCG2082K |
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VAT/ TIN Registration |
07720280406 |
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Import Export Code |
0504073541 |
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Name of Bank |
ICICI Bank Limited, Nehru Place, New Delhi |
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Account Since |
2004 |
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Credibility Factors |
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Years of Establishment |
2004 |
AS PER WEBSITE DETAILS
Profile
Subject is an upcoming, professionally managed pharmaceutical company
promoted by technocrats with vast experience in the field of drugs &
pharmaceuticals. Currently the companies operations are focused in the field of
Oncology.
GETWELL has achieved prominence in the Indian pharmaceutical industry within a
short time with a comprehensive product-range in oncology. Today the company is
well known for manufacturing and marketing of anti cancer drugs used in cancer
chemotherapy as well as drugs used for supportive-care in oncology.
GETWELL, possesses extensive experience in handling oncology products. The
company has been manufacturing anti cancer formulations for some of the leading
pharmaceutical companies in India for the past many years. The GLS products are
also under various stages of registration in the offshore markets
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.42.80 |
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UK Pound |
1 |
Rs.81.48 |
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Euro |
1 |
Rs.64.27 |
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 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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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 |
YES |
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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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