MIRA
INFORM REPORT
|
Report Date : |
04.12.2008 |
IDENTIFICATION
DETAILS
|
Name : |
MAYFAIR CLINICAL EDUCATION AND RESEARCH CENTRE PRIVATE LIMITED |
|
|
|
|
Formerly Known As : |
R.L. KALTHIA CONSTRUCTION COMPANY PRIVATE LIMITED |
|
|
|
|
Registered Office : |
6, Aditya Bunglows, Near Sal Hospital, Thal Tej, Ahmedabad – 380054,
Gujarat. |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
16.12.1987 |
|
|
|
|
Com. Reg. No.: |
010195 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U99999GJ1987PTC010195 |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business : |
Clinical and Research Centre. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a 2 decades old company having moderate track. The company
has not filed any financials after 2006 with the Government Departments. As per last available financials, the company had good amount of
accumulated losses. It would be difficult to access current financials
position of the company in view of non-availability of latest financials. No
further details or payments records could be made available. The company can be considered for any business dealings on fully safe
and secured terms only. |
INFORMATION
DECLINED BY
|
Name : |
Dr. Bari |
|
Designation : |
General Manager |
|
Date : |
02.12.2008 |
LOCATIONS
|
Registered Office : |
6, Aditya Bunglows, Near Sal Hospital, Thal Tej, Ahmedabad – 380054,
Gujarat, India. |
|
Website : |
www.kalthiagroup.com/MayfairClinical.htm |
|
|
|
|
Head Office : |
Mohan Mill Compound, Behind FIAT Fortpoint, Opposite Lawkim,
Ghodbunder Road, Thane – 400 607, Maharashtra, India. |
|
Tel No.: |
91-22-25895856 / 56237737 |
|
Fax No.: |
91-22-25895854 |
|
Email : |
|
|
|
|
|
Corporate Office : |
702/20, Sanskruti, Thakur Complex, kandivli (East), Mumbai,
Maharashtra, India. |
DIRECTORS
|
Name : |
Mr. Ratilal L. Kalthia |
|
Designation : |
Director |
|
Address : |
2576, Swashray, Diamond Chowk, Bhavnagar – 364001, Gujarat, India. |
|
Date of Birth/Age : |
15.10.1937 |
|
Date of Appointment : |
16.12.1987 |
|
|
|
|
Name : |
Mr. Hitesh R. Kalthis |
|
Designation : |
Director |
|
Address : |
109, Sarthi Row House, Subhash Chawk, Memnagar, Ahmedabad – 380052,
Gujarat, India. |
|
Date of Birth/Age : |
14.10.1971 |
|
Date of Appointment : |
01.07.2003 |
|
|
|
|
Name : |
Mr. Kalpesh R. Kalthia |
|
Designation : |
Director |
|
Address : |
109, Sarthi Row House, Subhash Chawk, Memnagar, Ahmedabad – 380052,
Gujarat, India. |
|
Date of Appointment : |
01.07.2003 |
|
|
|
|
Name : |
Dr. Jogindaar Lalla |
|
Designation : |
Director |
|
Address : |
702/20, Sanskruti, Thakur Complex, Kandiwali (East), Mumbai,
Maharashtra, India. |
|
Date of Birth/Age : |
12.12.1939 |
|
Date of Appointment : |
01.07.2003 |
|
|
|
|
Name : |
Ms. Jyoti D. Darshane |
|
Designation : |
Director |
|
Address : |
8, Madhu Madura, Prathna Samaj Road, Wille Parle (East), Mumbai,
Maharashtra, India. |
|
Date of Appointment : |
01.07.2003 |
KEY EXECUTIVES
|
Name : |
Dr. Bari |
|
Designation : |
General Manager |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
AS ON 31.03.2006
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Mr. Ratilal L. Kalthia |
|
100 |
|
Mr. Rajnibhai L. Kalthia |
|
100 |
|
Mr. Hitesh R. Kalthia |
|
550000 |
|
Mr. Kalpesh R. Kalthia |
|
550000 |
|
Kalthia Investment Private Limited |
|
899800 |
|
|
|
|
|
Total |
|
2000000 |
AS ON 31.03.2006
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Bodies corporate |
|
45.00 |
|
Directors or relatives of directors |
|
55.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Clinical and Research Centre. |
GENERAL
INFORMATION
|
Customers : |
|
||||||||||||||||
|
|
|
||||||||||||||||
|
Bankers : |
|
||||||||||||||||
|
|
|
||||||||||||||||
|
Facilities : |
Secured loans as
on 31.03.2006
Unsecured loans
as on 31.03.2006
|
|
|
|
|
Banking
Relations : |
- |
|
|
|
|
Auditors : |
|
|
Name : |
S.V.Pandya And Associates Chartered Accountant |
|
Address : |
F-9, Radhamandir, Waghawadi Road, Bhavnagar – 364001, Gujarat, India. |
|
|
|
|
Associates/Subsidiaries : |
|
CAPITAL STRUCTURE
AS ON 31.03.2006
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity Shares |
Rs. 10/- Each |
Rs.2.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity Shares |
Rs. 10/- Each |
Rs.2.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
2.000 |
2.000 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
(9.943) |
(0.111) |
|
|
NETWORTH |
|
(7.943) |
1.889 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
18.603 |
18.339 |
|
|
2] Unsecured Loans |
|
18.128 |
16.523 |
|
|
TOTAL BORROWING |
|
36.731 |
34.862 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
28.788 |
36.751 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
33.975 |
38.601 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.000 |
0.000 |
|
|
Sundry Debtors |
|
0.001 |
0.902 |
|
|
Cash & Bank Balances |
|
0.646 |
0.697 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
0.642 |
0.048 |
|
Total
Current Assets |
|
1.289 |
1.647 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
6.485 |
3.506 |
|
|
Provisions |
|
0.000 |
0.000 |
|
Total
Current Liabilities |
|
6.485 |
3.506 |
|
|
Net Current Assets |
|
(5.196) |
(1.859) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.009 |
0.009 |
|
|
|
|
|
|
|
|
TOTAL |
|
28.788 |
36.751 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
|
31.03.2006 |
|
|
Sales Turnover |
|
|
1.934 |
|
|
Other Income |
|
|
NA |
|
|
Total Income |
|
|
1.934 |
|
|
|
|
|
|
|
|
Net Loss |
|
|
(9.830) |
|
|
|
|
|
|
|
|
Earnings in Foreign Currency : |
|
|
|
|
|
|
Export Earnings |
|
|
0.700 |
|
Total Earnings |
|
|
0.70 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Purchases made for re-sale |
|
|
2.073 |
|
|
Depreciation & Amortization |
|
|
4.968 |
|
|
Other Expenditure |
|
|
4.723 |
|
Total Expenditure |
|
|
11.764 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
|
- |
- |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
508.27 |
- |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
(27.87) |
- |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
1.23 |
- |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
(5.44) |
20.31 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
0.19 |
0.46 |
LOCAL AGENCY
FURTHER INFORMATION
Bankers Charges
Report as per Registry
|
Name of the company |
MAYFAIR CLINICAL EDUCATION AND RESEARCH CENTRE PRIVATE LIMITED |
|
Presented
By |
Mr. Kalpesh R.
Kalthia |
|
1) Date and description of instrument creating the change |
Unattested deed
of hypothecation of movables date :- 11.11.2004 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.18.000
Millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
All the plant and
machinery and other fixed assets of the company, already purchased as at
present and that may be purchased in future from the company’s own sources. All the plant and
machinery purchased/acquired out of the corp meditech term loan with total
value Rs.24.445 Millions |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of interest
10.5% per annum as per COBAR which is 10.5% per annum as at present, rising
or falling therewith or such other lending rate that the bank may determine
to charge from time to time. Overdraft
interest 2.0% per annum. Over and above the normal rate of interest. |
|
5) Name and Address and description of the person entitled to the charge. |
Corporation bank,
Mulund Branch, Mumbai. |
FIXED ASSETS
Ø
Plant And Machinery
Ø
Research Equipment
Ø
Air Conditioner
Ø
Lab Instruments
Ø
Computer
Ø
Furniture And Fixtures
Ø
Vehicles
AS PER WEB SITE
DETAILS
Introduction:
Mayfair Clinical, Education and Research Centre, a Contract Clinical
Centre, is established in the important Industrial belt of Maharashtra at
Thane, to serve and support:
- Indian and
Global Pharmaceutical Industry,
- Pharma R and
D Centres involved in Drug Design and Development, Formulation Development
and Herbal / Neutraceutical Standardisation
Export houses of the country
in the areas of Bioequivalence / Bioavailability studies in healthy human
volunteers, Pre-clinical (safety and efficacy) studies of drugs in animals,
Clinical Trials Phase I to Phase III in patients and Phase IV (PMS ) studies on
contract basis for outsourcing .
Vision
“To be a Leader in Clinical studies in India.”
Mission Statement
They, at subject, shall endeavour to fulfill their responsibility to
customers by conducting studies with full integrity. They shall strive for
upgrading their reports/processes through appropriate technology. For this,
they shall endeavour to draw upon the State-of-the-art scientific and
technological inputs from their research and education activities.
Services offered
- Right
Protocol to give desired results
- Right SOP for
systems
- On time
delivery of reports with strong emphasis on their values namely “Transparency,
Excellence, Integrity, Sincerity, Innovativeness, Punctuality and
Accountability”.
- The right
site selection with accessibility
- Study
monitoring
- Data
management and Bio-statistics
- Integrated
Clinical, Bio-analytical and Statistical report
Regulatory compliance
The studies conducted under GCP and GLP guidelines, and religiously
following USFDA, ICH and WHO guidelines after compliance with Regulatory
requirements of various countries.
FACILITIES OF INTERNATIONAL STANDARDS
Clinical – 42 Beds with other relevant facilities for the volunteers
Analytical
Validated
and 21 CFR part11 compliant LCMS-MS and HPLCs with Electrochemical,
PDA,Fluorescent and UV-vis detectors, GC with ECD and NPD Complete HPTLC system
with Linomat applicator, 6-stations dissolutions testers with
Spectrophotometers, Zymark's Solid Phase extraction and evaporation unit for
purification of plasma samples.
Documentation – Excellent documentation covering all aspects
STRENGTHS
- Fully
Equipped State-of-the-art Centre
- Highly
experienced Team for conducting all the studies
EXPANSION PLAN
- Research and Development in
pharmaceutical formulations and New Drug Delivery Systems (NDDS).
- Stability
studies as per ICH guidelines.
- Isolation of
markers and their use in standardization of Herbals.
- Conduct
‘value addition' courses for students, teachers and medical and allied
fraternity under Education program.
Thus, Mayfair Offers A Complete Solution To
Your Formulation And Clinical Problems For Investigational New Drugs (Ind) and
Abbreviated New Drug Applications (Anda), Generics, Botanicals And Herbals
(With Respect To Clinical Studies And Complete Standardization)
KALTHIA GROUP
HISTORY
The history dates back to 40 years when Mr. R.L.Kalthia, the
pioneer founder started the business in 1960 and became limited company in
1996. The other companies were added during the course of time. Primarily,
Kalthia group initiated its activities in infrastructure development -
specially dams, canals, bridges and roads. Today Kalthia group has a large
number of companies active in diversified fields.
BACKGROUND
Kalthia group originating from a farmer family- developed in
agriculture, farming and hill forestation by latest technology and developed
many varieties in fruits and vegetables being exported to European countries.
Owning 150 acres agriculture land near Bhavnagar, it also developed dairy
farming. Kalthia group expanded in India in the projects of beverages,
automobiles, agricultural commodities and allied activities. Encouraged by
overwhelming success in Indian operations, Kalthia group decided to go global
for various projects pertaining to hotels, motels and information technology.
HIGHLIGHTS
From a small family
business, grown to a group having 1750 million turnover.
- Active in the fields of Construction, Infrastructure, Beverages, Automobiles,
Ship breaking, exports, hotels, motels and I.T. sector.
- Ventured and associated with well known MNCs like Hindustan Coca Cola, Bajaj
Auto Ltd. and West Coast General Corporation, USA.
- Focused on latest technology in office infrastructure with I.T. integration.
- Excellent team of talented, qualified and experienced professionals at all
the levels of management.
- Value addition on continual basis to personnel of Kalthia group through
training programs arranged considering present as well as future requirements
of organization.
- Kalthia group is always in search of talented personnel to contribute in its
growth.
- Long term business plans designed for Kalthia group in diversified segments.
- Immerging as a strong philanthropist group.
MILESTONES IN GROWTH
Their journey since 1960 consists following milestones of consisting growth
|
Year |
Significant milestone |
|
1973 |
AA class contractor’s certificate for Quality Construction. |
|
1996 |
Construction of Suvidha Township – 200 tenements –31362 sq. meter |
|
1997 |
Construction of Bajaj showroom in Bhavnagar |
|
1997 |
Contracts undertaken for national highway construction and completed work over 150 kms. in 2 years. |
|
1998 |
Established a beverage plant near Ahmedabad. |
|
1998 |
Set up an automobile showroom and service station. |
|
2000 |
Automobile business captured the highest motorcycle
share against |
|
2002 |
Undertaken projects of international standards funded by Asian – Development Bank under GUDC at Dhrangadhra and Bhuj. |
|
2002 |
Beverage business gained BIS certificate for packaged drinking water. 2003:Beverage business achieved the ISO 9001-2000 certificate for its Quality Systems. |
|
2003 |
Endeavoured to set up a clinical laboratory and R.and D. unit at Mumbai |
PARTNER IN GROWTH
Their basic philosophy of manufacturing quality goods and providing
quality services has resulted into their association with international giants
like Bajaj Auto Limited, The Coca Cola Company and West Coast General
Corporation. As a matter of fact, the above companies do not require any
introduction yet they make an attempt to describe them in brief
BAJAJ AUTO LIMITED
(BAL)
BAL can be rightly said to be the backbone of automobile industry in
India . It would be appropriate to say that BAL provided the wheels to the
Indian economy. Today BAL is among world’s top players in two and three wheeler
segment. Despite of competition from international giants of Automobile
Industry like Honda, Suzuki, Piaggio, it has consistently maintained its market
share in Indian Automobile industry and has provided a boost to national
economy.
Their Association:
By entering into association with BAL,
they enjoy advantages of
1. An image of very
powerful and popular Indian automobile company.
2. Standardized business model and expertise in the field of
automobiles.
3. Expert training to their mechanics and sales team.
4. Large customer pool.
The Coca Cola
India
Domestically, TCC is in the process of building its Indian presence
since its return to the country in 1993. TCC has invested $ 800 million (Rs.
3760 crores) in India since 1993, in bottling plant. The company acquired
Cadbury Schweppes brand and Indian row brands like Thumps up and Limca. Indian
operations are carried out under the banner of Hindustan Coca Cola(HCC)
Their Association:
Kalthia group is a privileged independent
bottler of HCC and enjoy advantages of
1. An image of
international and most popular beverage brand in the world.
2. Very good technical support.
3. Standardized business model.
4. High quality standards of product as well as systems.
5. Cost effective operations because of high volume of production
and increased capacity utilization.
6. Strictly confirming to GMP norms.
WEST COST GENERAL
CORPORATION LIMITED (WCGC)
WCGC established in 1985 as a General Building and Engineering
Contractor having its office in California. It performs as Construction
Manager, General Contractor and Specialty Construction e.g. rock crushing,
segmental retaining walls etc.
The company was recently named “Construction Management Team of the Year
– 1998” by the City of San Diego and has won numerous awards for its
participation in construction services of various projects.
This team of highly experienced professionals provides preconstruction
expertise in design review, scheduling, budgeting, value engineering,
government liaison, permitting, entitlement, utility coordination, risk
assessment etc.
WCGC’s commitment to fairness, integrity, excellence, partnership,
professionalism, common sense, intelligent planning, problem solving etc. is
evident in its own as well as client’s success.
Their Association:
By entering into joint venture in 2001 with
WCGC, they enjoy advantages of
1 An
image of international construction company.
2 Participating in bids of big size
construction projects in India and abroad.
3 Increasing their size of construction
business and turnover substantially.
FUTURE LOOK
Kalthia Group has designed its long term business plans to take up
ambitious projects in India as well as abroad for expansion, diversification,
forward integration and backward integration and to join hands with MNCs and
to participate in various joint ventures to achieve the targets.
Major expsnsion
projects
1. Dealership of 4
wheelers for Bhavnagar district - Automobile segment.
2. Expanding business network in whole Saurashtra region -
Automobile segment for Bajaj Auto.
3. Expanding business network on national level for Infrastructure
projects.
Major
diversification projects
1. Pharmaceuticals project
including clinical laboratories, R.andD. center and manufacturing of
drugs
2. Project for manufacturing of ORS
products-viz.sunfeel for beverage industry
3. I.T. enabled services including call centers, medical
transcription.
4. Consulting in seismic research and earthquake precautions.
5. Exports and development of Indigenous markets in readymade
garments and dress materials.
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.49.90 |
|
UK Pound |
1 |
Rs.74.30 |
|
Euro |
1 |
Rs.63.42 |
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|