MIRA
INFORM REPORT
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Report Date : |
13.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
INDO GERMAN AAKALOIDS |
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Registered Office : |
Inga House, Mahakali Road, Andheri (East), Mumbai – 400 093,
Maharashtra. |
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Country : |
India |
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Legal Form : |
Partnership concern with an unlimited liability of the partner. |
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Line of Business : |
Manufacturer of all types of Belladonna Alkaloids, Brucine Sulphate, Strychnine
Sulphate, Methoxsalen, Paperverine Hydrochloride, Quinine Alkaloids etc. |
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 : |
Moderate |
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Payment Behaviour : |
No complaints |
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Litigation : |
Clear |
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Comments : |
Subject seems to be an established concern in its field having
moderate track. Trade relations are fair. No complaints have been heard. The
management declined to part with any details. The concern can be considered for small to mediocre business dealings. |
LOCATIONS
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Registered Office/Corporate Office : |
Inga House, Mahakali Road, Andheri (East), Mumbai – 400 093,
Maharashtra, India. |
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Tel. No.: |
91-22-28202932 / 28202933 |
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Fax No.: |
91-22-28364049 |
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E-Mail : |
PARTNERS
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Name : |
Dr. Abraham Patani |
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Designation : |
Main Partner |
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Address : |
Mahakali Road, Andheri (East), Mumbai – 400 093, India. |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of all types of Belladonna Alkaloids, Brucine Sulphate,
Strychnine Sulphate, Methoxsalen, Paperverine Hydrochloride, Quinine
Alkaloids etc. |
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Products : |
ALKALOIDS
EXTRACTS
PHYTOCHEMICALS
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GENERAL
INFORMATION
NOT AVAILABLE
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Associates/Subsidiaries : |
NIL |
CAPITAL STRUCTURE
NOT AVAILABLE
FINANCIAL DATA
[all figures are in Rupees Millions]
NOT AVAILABLE
LOCAL AGENCY
FURTHER INFORMATION
AS PER WEBSITE:
PROFILE:
Subject was established
in 1958 by Dr.Abraham Patani in Mumbai on completion of his doctoral
studies from the University of Mainz, Germany.
Subjet, a pioneer in alkaloid research is involved in the cultivation isolation
and extraction of actives from plant sources. The corporate, office is in
Mumbai. The company has 5 factories located in Mumbai and Hyderabad.
Plants required for the isolation of active principles are cultivated by the
company at its own farms and those of its associates in Kerala, Maharashtra,
Andhra Pradesh and Jammu & Kashmir.
The company maintains high quality
standards for its products. All products comply with the specifications
detailed in the monographs of the United States Pharmacopoeia, British
Pharmacopoeia or the European Pharmacopoeia. Cutomized extracts are also
manufactured as per customer's specifications.
The high commitment to quality has enabled the company to establish excellent
relations with its customers in 60
countries through its dedicated service for the last 44 years.
To bolster its commitment to Research, a non-profit research institute, Dr.Patani Scientific and Industrial Research
(PSIR) was instituted in 1985. Significant contribution to the
development of new technologies in the isolation of actives from plant sources
has earned the institute recognition from the Department of Science and
Technology, Government of India.
Subject offers its customers assistance in the
isolation and development of new chemical entities from plant sources.
Service Offered
Include;
- Analytical Method Development.
- Process Development.
- Laboratory Scale Production.
- Pilot Scale Production
- Microbiological Research and Testing
Facilities.
- Formulation Development of Herbal
Products. (Tablets, Capsules, Liquid Orals).
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.48.71 |
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UK Pound |
1 |
Rs.72.85 |
|
Euro |
1 |
Rs.64.70 |
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 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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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 |
NO |
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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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30 |
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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