MIRA
INFORM REPORT
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Report Date : |
18.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
FAIR PHARMA |
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Registered Office : |
Broadway, Ernakulam, Cochin – 682031, Kerla |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1991 |
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PAN No.: [Permanent
Account No.] |
AAZPA9927F |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of Ayurvedic Medicines. |
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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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 concern meeting its normal commitments
timeously. Trade relations are fair. Business is active. The concern can be considered good for normal business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Shamshad |
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Designation : |
Daughter of Proprietor |
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Date : |
15.07.2008 |
LOCATIONS
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Registered Office : |
Broadway, Ernakulam, Cochin – 682031, Kerla, India |
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Tel. No.: |
91-484-2361537/ 2369536 |
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Fax No.: |
91-484-2382236 |
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E-Mail : |
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Website : |
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Area : |
2500 sq. ft. |
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Location : |
Rented |
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Factory 1: |
Market Road, Cochin – 682014, Kerla, India |
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Factory 2: |
Srilanka it is a Private Limited Company |
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Factory 3: |
18/23 and 24, Murugan Complex, Near R. T. O, Check Post, Mudukkarai –
641105, Tamilnadu, India |
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Tel. No.: |
91-484-2622383 |
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Fax No.: |
91-484-2382236 |
SOLE PROPRIETOR
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Name : |
Mr. Tamajeed |
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Designation : |
Proprietor |
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Date of Birth/Age : |
69 years |
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Qualification : |
Minning Engineer |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Ayurvedic Medicines. |
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Products : |
Ayurvedic Medicines Products |
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Exports : |
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Countries : |
Africa UK USA |
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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 : |
End Users |
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No. of Employees : |
21 |
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Bankers : |
Union Bank of India, Banergy Road |
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Facilities : |
Over Draft |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. Menon Chartered Accountant |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Available |
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Borrowed : |
Not Available |
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Total : |
Not Available |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
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Sales Turnover |
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40.000 |
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LOCAL AGENCY
FURTHER INFORMATION
TRUSTSEAL ACCEPTANCE CHART
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Parameters |
Details |
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Existence
Verification |
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Name |
FAIR PHARMA |
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Statutory
Approvals |
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Income Tax Registration |
AAZPA9927F |
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VAT/ TIN Registration |
32070323654 |
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Name of Bank |
Union Bank of India |
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Current Account Number |
0522050009334 |
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Credibility
Factors |
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IndiaMART Client Since |
5 years |
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Trade
Affiliations |
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SSI Registration |
320081202225 Valid Till more 15 years |
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Standards &
Certifications |
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Quality Management Systems |
ISO – 9001: 2000 IPD 19 December, 2008 |
Website Details
Profile:
Few firms of recent origin have created as much sensation in
the medical world as subject has. Founded in the year 1993 by T.A Majeed, the
company has pioneered the development of a slew of life saving, health
enhancing drugs devoid of any toxic effects. Mr. Majeed hails from a family in
Kannur, Kerala that boasted of a long tradition of ayurvedic practice. Even
from his early childhood, he had a fascination for Ayurveda and its miracle
cures. He gained his knowledge of Ayurveda from ancient palm leaf scripts
treasured from generation to generation.
Following the foot -steps of the Ayurveda Acharyas, he became well versed in
this ancient system of medicine.
The company is motivated by a commitment to satisfy and improve the lives of
millions through the manufacture and distribution of a slew of medicines meant
to cure many diseases formerly considered incurable.
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 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.42.94 |
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UK Pound |
1 |
Rs.85.78 |
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Euro |
1 |
Rs.68.01 |
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 |
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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