MIRA
INFORM REPORT
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Report Date : |
25.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
SHALINA LABORATORIES PRIVATE LIMITED |
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Registered Office : |
96, Maker Chamber VI, Nariman Point, Mumbai – 400 021, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2007 |
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Date of Incorporation : |
13.12.1984 |
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Com. Reg. No.: |
11 - 34786 |
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CIN No.: [Company
Identification No.] |
U24239MH1984PTC034786 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMS37632A |
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PAN No.: [Permanent
Account No.] |
AABCC1423M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturing and Exporting of Pharmaceutical Formulations and Chemicals. |
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 1899785 |
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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 company having satisfactory track records. Directors are reported as experienced, respectable and having satisfactory means of their own. Financial position is good. Payments are correct and as per commitments. The company can be considered good for any normal business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
96, Maker Chamber VI, Nariman Point, Mumbai – 400 021, Maharashtra, India |
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Tel. No.: |
91-22-2281 5577 / 2287 5058 |
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Fax No.: |
91-22-2287 5390 |
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E-Mail : |
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Website : |
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Factory : |
C/48/3, TTC Industrial Area, Near Galaxy Research Centre, Pawnel, Navi Mumbai 400 705, India |
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Tel. No.: |
91-22-2763 5222 |
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Fax No.: |
91-22-2763 5226 |
DIRECTORS
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Name : |
Mr. Shiraz M. Virji |
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Designation : |
Director |
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Address : |
201, Samudra
Gupta, Green Fields Opposite Juhu Office, Juhu – 400049, Mumbai |
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Date of Birth : |
09.06.1948 |
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Date of Appointment : |
12.12.1984 |
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Name : |
Mrs. Theresa D’Mello |
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Designation : |
Director |
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Address : |
304, Landmark
Matarpada Road, Amboli, Andheri (West), Mumbai – 400058 |
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Date of Birth : |
29.11.1964 |
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Date of Appointment : |
03.07.2001 |
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Name : |
Mr. Leonard D’Costa |
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Designation : |
Director |
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Address : |
874 Central Park,
Andheri Kurla Road, Andheri (West), Mumbai |
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Date of Birth : |
24.01.1951 |
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Date of Appointment : |
24.09.2004 |
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Tel. No.: |
91-22-28213471 |
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E-Mail.: |
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Directorship in other companies |
Shalina Trading
Company Private Limited CIN. No.:
U51900MH1981PTC024779 |
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Name : |
Mr. Pasupathy
Puthuseri Veedu |
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Designation : |
Director |
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Address : |
3, Ashiwini, B
Wing, Apnaghar Housing Society, Andheri (West), Mumbai – 400053 |
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Tel. No.: |
91-22-66965768 |
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Fax. No.: |
91-22-27635226 |
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E-Mail.: |
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Directorship in
other companies |
Shalina Trading
Company Private Limited CIN. No.:
U51900MH1981PTC024779 |
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Name : |
Ms. Neelam Virji |
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Designation : |
Additional
Director |
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Address : |
20 Waldeck Road,
London, UK |
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Tel. No.: |
044 208 9915253 |
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E-Mail.: |
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Directorship in other companies |
Shalina Trading
Company Private Limited CIN. No.:
U51900MH1981PTC024779 |
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Name : |
Mr. Arloph John
Vieira |
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Designation : |
Alternate
Director |
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Address : |
Sylvia House, 88,
K – Villa, Near Holy Cross School, Thane (West), Mumbai – 400 601,
Maharashtra, India |
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Tel. No.: |
91-22-25362102 |
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E-Mail.: |
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Name : |
Mr. Srinivas
Balasubramanian |
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Designation : |
Alternate
Director |
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Address : |
Blossom Colony
Housing Society, No. 11, Flat No. 1, Military Road, Marol, Andheri (East),
Mumbai – 400059, Maharashtra, India |
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Tel. No.: |
91-22-29251195 |
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E-Mail.: |
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Directorship in other companies |
Shalina Trading
Company Private Limited U51900MH1981PTC024779 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 28.09.2005
|
Names of Shareholders |
No. of Shares |
|
Neelam S. Virji |
6,197,664 |
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Neelam S. Virji Theresa D’Mello |
31 |
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Neelam S. Virji Leonard D’Costa |
1 |
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Total |
6,197,696 |
Equity share breakup (Percentage of total equity)
As on 31.03.2007
|
Sr. No. |
Category |
Percentage |
|
1. |
Directors or relatives of directors. |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing and Exporting of Pharmaceutical Formulations and Chemicals. |
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Products : |
Item Code No. (ITC Code) |
Production
Description |
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29411002 |
Ampicilline Trihydrate |
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29222914 |
Paracetamol |
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29379904 |
Betamethasone Dipropionate |
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GENERAL
INFORMATION
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No. of Employees : |
50 |
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Bankers : |
· State Bank of India Overseas Branch, World Trade Centre, Cuffe Parade, Mumbai – 400 005, Maharashtra, India · Axis Bank Limited Universal Insurance Building, Ground Floor, P M Road, Fort, Mumbai – 400001, Maharashtra, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Jagtiani and Naik Chartered Accountants |
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Address : |
12-13, Esplanade, 3rd Floor, Amrit Keshav Nayak Marg, Fort, Mumbai – 400 001, Maharashtra, India |
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Tel. No.: |
91-22-22331785/22076071/22002875 |
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Fax No.: |
91-22-22002875 |
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Associates/Subsidiaries : |
Ø Shalina Trading Company Private Limited Manufacturer, Exporter, Importers of Gems and Jewellery and Chemicals. Ø Dynamic Software Private Limited Ø Anar Construction Private Limited Ø Khopoli Fish Farming Private Limited Ø Neelam Land Development Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6,200,000 |
Equity Shares |
Rs. 10/- each |
Rs. 62.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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6,197,696 |
Equity Shares |
Rs. 10/- each |
Rs. 61.976 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
61.976 |
61.977 |
61.977 |
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2] Reserves & Surplus |
317.981 |
240.857 |
212.503 |
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NETWORTH |
379.957 |
302.834 |
274.480 |
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LOAN FUNDS |
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1] Secured Loans |
350.576 |
378.401 |
222.893 |
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2] Unsecured Loans |
0.000 |
0.000 |
50.000 |
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TOTAL BORROWING |
350.576 |
378.401 |
272.893 |
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3] Deferred Tax Liability |
13.709 |
4.454 |
8.266 |
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GRAND TOTAL
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744.242 |
685.689 |
555.639 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
79.453 |
91.343 |
100.239 |
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Capital work-in-progress |
0.000 |
0.000 |
2.602 |
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INVESTMENTS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS &
ADVANCES |
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Inventories |
95.077 |
131.234 |
166.575 |
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Sundry Debtors |
806.494 |
771.017 |
625.149 |
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Cash & Bank Balances |
71.688 |
57.945 |
11.876 |
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Other Current Assets |
24.981 |
25.361 |
11.489 |
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Loans & Advances |
150.009 |
116.488 |
133.698 |
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Total Current Assets |
1148.249 |
1102.045 |
948.787 |
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Less : |
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Current Liabilities |
445.954 |
476.352 |
477.826 |
Provisions
|
37.506 |
31.347 |
18.163 |
Total Current Liabilities
|
483.460 |
507.699 |
495.989 |
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Net
Current Assets |
664.789 |
594.346 |
452.798 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL
|
744.242 |
685.689 |
555.639 |
PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
Sales Turnover
|
2319.324 |
1468.240 |
1830.545 |
Other income
|
0.000 |
0.000 |
0.000 |
Total Income
|
2319.324 |
1468.240 |
1830.545 |
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Profit/(Loss) Before Tax
|
121.849 |
49.905 |
47.509 |
Provision for Taxation
|
0.000 |
0.000 |
0.000 |
Profit/(Loss) After Tax
|
121.849 |
49.905 |
47.509 |
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Export Value
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0.000 |
0.000 |
1767.700 |
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Import Value
|
0.000 |
0.000 |
202.500 |
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Expenditure:
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Interest
|
63.938 |
52.071 |
0.000 |
Depreciation
|
12.473 |
14.416 |
0.000 |
Other Expenditure
|
2121.064 |
1351.848 |
0.000 |
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Total Expenditure
|
2197.475 |
1418.335 |
1783.036 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
PAT / Total Income
|
(%)
|
5.25 |
3.40 |
2.59
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Net Profit Margin
(PBT/Sales) |
(%) |
5.25 |
3.40 |
2.59
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Return on Total Assets
(PBT/Total
Assets} |
(%) |
9.92 |
4.18 |
2.59
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Return on Investment (ROI)
(PBT/Networth) |
|
0.32 |
0.16 |
0.17
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Debt Equity Ratio
(Total
Liability/Networth) |
|
1.27 |
1.68 |
1.81
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Current Ratio
(Current
Asset/Current Liability) |
|
2.37 |
2.17 |
1.91
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LOCAL AGENCY
FURTHER INFORMATION
Form 8
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This form is for |
Creation of charge |
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Corporation identity number (CIN) or foreign company registrations number of the company |
U24239MH1984PTC034786 |
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Name of the company |
SHALINA LABORATORIES PRIVATE LIMITED |
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Address |
96, Maker Chamber VI, Nariman Point, Mumbai – 400 021, Maharashtra, India |
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Type of Charges |
v Book debts v Movable property (not being pledge) |
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Particular of the charge holder |
Name : Bank of India Address: Mahalaxmi Branch, 8 – A, Bhuabhai Desai Road City : Mumbai State : Maharashtra ISO country code: IN Pin code : 400026 e-mail ID : boimhl@mtnl.net.in |
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Nature or description of the instrument creating or modifying the charge |
Hypothecation cum loan agreement plant and machinery, stocks and book debts |
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Date of the instrument creating charge |
05.02.2008 |
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Whether charge created or modified outside India |
No |
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Amount Secure by the charge |
Rs. 180.000 millions |
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Brief particulars of the principal terms and conditions and extent and operation of the charge |
Rate of Interest EPC – 9.50% p.a. upto 180 days FBP – 9.50% p.a. upto 90 days Terms of repayment On demand Margin EPC – 25% FBP – Nil Extent and operation of the charge First Charge |
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Short particulars of the Property charged |
All tangible movable machineries and plants (both present and future) at Pawne, Navi Mumbai. All tangible movable properties, assets and stocks, whatsoever nature of the borrower (both present and future) all stocks of raw materials such as raw material and finished goods, pharma products and semi finished goods, spare parts, components (including spares parts and stores relating to plant and machinery both present and future and all present and future book debts. |
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Whether any of the property or interest therein under reference is not registered in the name of the company |
No |
Form 8
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Name of the
company |
SHALINA LABORATORIES PRIVATE LIMITED |
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Presented By |
State Bank of India Overseas Branch, World Trade Centre, Cuffe Parade, Mumbai – 400 005, Maharashtra, India |
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Date and
Description of the instrument creating charge |
All dated 04.12.1996 creating a single
charge. |
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Amount Secured by
the charge or amount owing on security of the charge |
Rs. 290.000
millions |
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Short particulars
of the property charged if property acquired is subject to charge date of
acquisition of property should be given
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All present and
future goods, book debts and all other movable assets including documents of
goods ,outstanding moneys, receivables including receivables by way of cash
assistance and/or cash incentives under the cash incentive scheme or any
other scheme, claims including claims by way of refund of customs/ excise
duties under the duty drawback credit scheme, bills, invoices, documents, contracts,
Insurance policies, guarantees, engagements, securities, investments and
rights and all present and future machineries belonging to or under the
control of the company, wherever lying including such goods and other movable
assets in course of transit/ shipment/ delivery. |
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Gist of the terms
and conditions and extent & operation of charge Margin – 25% Rate of
Interst |
Interest – As
determined by the Bank from time to time. Margin – As
prewscribed by the Bank from time to time. |
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Name, address and
description of the person entitled to charge |
State Bank of India Overseas Branch, World Trade Centre, Cuffe Parade, Mumbai – 400 005, Maharashtra, India |
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Date and brief of
the description of instrument modifying the charge |
Extension of memorandum
of entry dated 06.01.2006 |
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Particulars of
modification the terms, conditions the extent or operation of the charge in
which modification |
By modification
dated 09.09.1997, additional credit facilities of Rs. 64.000 millions
granted. Hence, the amount of charge increased from Rs. 29.000 millions to
Rs. 93.000 millions. By modification
dated 23.11.1998, amount of charge increased from Rs. 93.000 millions to Rs.
152.000 millions. By modification
dated 03.11.2001 amount of aggregate facilities reduced to Rs. 137.000
millions. Hence amount of charge reduced from Rs. 152.000 millions to Rs.
137.000 millions. By modification
dated 20.05.2002, stand by line of credit of Rs. 10.000 milliopns granted.
Hence, the amount of charge increased from Rs. 137.000 to Rs. 147.000
millions. By modification
dated 10.10.2003, amount of charge increased from Rs. 187.000 millions (*EPC
to Rs. 60.000 millions; * Exports Bills purchase/ discounting Rs. 70.000 millions,
stand by line of credit Rs. 17.000 millions, L/C _ Rs. 40.000 millions). *with inter se
flexibility of Rs. 40.000 millions between pre-shipment to post shipment
limits. By this
modification dated 05.02.2004, the equitable mortgage which was created on
28.10.2002 on the company’s land bearing plot no. C – 48/3 in TTC Industrial
Area, Village Pawne, Navi Mumbai together with buildings, structures and
fixed plant and machineries thereon, to secure the term loan of Rs. 18.000
millionsis further, extended to cover the various working capital facilities
aggregfating to Rs. 187.000 millions granted by SBI to company. Hence, the
total amount of charge secured under this equitable mortgage stands enhanced
from Rs. 18.000 millions to Rs. 205.000 millions. By modification
dated 24.05.2004, additional credit facilities of Rs. 30.000 millions granted
Hence, amount of charge increased from Rs. 187.000 millions to Rs. 217.000
millions (*EPC Rs. 60.000 millions; *Export Bills Purchase/ discounting Rs.
70.000 millions; stand by line of credit Rs. 17.000 millions; corporate loan
Rs. 30.000 millions and L/C Rs. 40.000 millions) *with inter se
flexibility of Rs. 40.000 millions between pre- shipment to post shipment
limits. By modification
dated 24.05.2004, the equitable mortgage Which was created
on 28.10.2002 on the company’s land bearing plot No. C – 48/3 in TTC
Industrial Area, Village Pawne, Navi Mumbai together with buildings,
structures and fixed plant and machineries thereon, to secured the term loan
of Rs. 18.000 millions, and which was further extended on 05.02.2004 to cover
the various working capital facilities aggregating to Rs. 187.000 millions,
granted by SBI to the company, further extended to cover the additional
L/CLimits (corporate loan)of Rs. 30.000 millions. Hence, amount of charge
secured unbder this equitable mortgage stands enhanced from Rs. 205.000
millions to Rs. 235.000 millions. By modification
dated 28.07.2004, additional credit facilities of Rs. 48.000 millions
granted. Hence, amount of charge increased from Rs. 217.000 millions to Rs.
265.000 millions. By this
modification dated 28.07.2004 the equitable mortgage which was vreated on
28.10.2002 on the company’s land bearing plot No. C – 48/ 3 in TTC Industrial
Area, Village Pawne, Navi Mumbai together with buildings, structures and
fixed plant and machineries thereon,
to secure the term loan of Rs. 18.000 millions and which was extended on
05.02.2004 to cover the various working capital facilities aggregating to Rs.
187.000 millions granted by SBI to the company, and which was further
extended on 24.05.2004 to cover the additional credit facilities of Rs.
30.000 millions, is further extended to cover the additional working capital
facilities of Rs. 48.000 millions. Hence, the total amount of charge secured
under this equitable mortgage stands enhanced from Rs. 235.000 millions to
Rs. 283.000 millions. By modification
dated 09.11.2004, additional credit facilities of Rs. 0.500 million granted
Hence, amount of charge increased from Rs. 265.000 millions to Rs. 315.000
millions (*EPC Rs. 80.000 millions; *Export Bills purchase/ Discounting Rs.
90.000 millions; stand by line of credit Rs. 20.000 millions; Corporate Loan
Rs. 30.000 millions; L/C Rs. 45.000 millions, Ad-hoc L/C Rs. 0.500 million). *with full inter
se flexibility. Margin: R/Ms;
Stock in Process; F/Gs and L/C 10%, Ad-hoc L/C 15%. By modification
dated 09.11.2004, the equitable mortgage, which was created on 28.10.2002 on
company’s land bearing plot no. C – 48/3, in TTC Industrial Area, Village
Pawne, Navi Mumbai together with buildings structures and fixed plant and
machinery thereon, to secure the term loan of Rs. 18.000 millions, and which
was extended on 05.02.2004 to cover the various working capital facilities
aggregating to Rs. 187.000 millions granted by SBI to the company, and which
was further extended on 24.05.2004 to cover the additional credit facilities
of Rs. 30.000 millions and on 28.07.2004 to cover the additional w/c
facilities of Rs. 48.000 millions is further extended to cover the additional
working capital facilities of Rs. 50.000 millions. Also under this
modifdication, the equitable mortgage created on 28.07.2004 on Plot No. C –
48/2in TTC Industrial Area, Village Pawne, Navi Mumbai together with
buildings, structures and fixed plant and machineries thereon to further
secure the enhanced credit facilities of Rs. 283.000 millions granted by the
Bank to the Company term loan. By modification
dated 08.08.2005, additional credit facilities of Rs. 55.000 millions granted.
Hence, amount of charge increased from Rs. 315.000 millions to Rs. 370.000
millions. (EPC/ Export Bills (Discounting/ purchase) (DA/DP) Rs. 2.300
millions with full inter se flexibility ; stand by line of credit Rs. 20.000
millions; corp. loan Rs. 30.000 millions; L/C Rs. 80.000 millions; B/G Rs.
10.000 millions)SLC can be utilized towards FB or NFB facility. Interest: As per
Bank’s / RBI’s Guidelines: presently: 1.5% above SBAR. Margin : R/Ms;
stock in process; F/Gs and L/C 10%, B/G 10% upto 18 months, 25% over 18
months and 100% over 36 months. By this
modification dated 06.01.2006 equitable mortgage created on A. 28.10.2002 on
Company’s land bearing Plot No. C – 48/3, in TTC Industrial Area, Village
Pawne, Navi Mumbai together with buildings, structures and fixed plant and
machineries thereon, and which was modified from time to time on 05.02.2004,
24.05.2004, 28.07.2004 and 09.11.2004 to secure the aggregate credit
facilities of Rs. 383.000 millions, is once again modified as under: Title deeds in respect
of this property re-deposited with SBI, SBI acting for itself and as agents
of Axis and ICICI Bank. so as to create a 1st charge in favour of
SBI as and by way of collateral security to further secure the w/c limits of
Rs. 3.400 millions and corporate loan of Rs. 30.000 millions and as and by
way of primary security for the term loan of Rs. 18.000 millions. The
mortgage on this property also extended on second pari passu charge basis to
secure the w/c limit of Rs. 1.200.000 millions granted by Axis Bank and Rs.
70.000 millions granted by ICICI Bank. B. 28.07.2004 on
Plot No. C – 48/2, in TTC Industrial Area, Village Pawne, Navi Mumbai
together with buildings, structures and fixed plant ands machineries thereon
to further secure the enhanced credit facilities of Rs. 283.000 millions
granted by the Bank to the company. (term loan Rs. 18.000 millions and w/c
facilities of Rs. 265.000 millions) and extended on 09.11.2004 to cover the
additional w/c facilities of Rs. 50.000 millions is again modified as under: Title deeds in
respect of this property re-deposited with SBI, SBI acting for itself and as
agents of Axis and ICICI Bank. so as to create a 1st pari passu charge to secure the w/c limits
of Rs. 3.400 millions and by way of primary security for corporate loan of
Rs. 30.000 millions granted by the Bank to the company. this property also
extended on first pari passu charge basis with SBI to secure w/c limit
of Rs. 1.200.000 millions granted by
Axis Bank and Rs. 70.000 millions granted by ICICI Bank. |
Trade Terms
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The name board of the company could be sighted. The visibility of the name board is high. It is easy to locate the office of the company.
The company’s fixed assets of important value include Leasehold Land, Residential Flat, Plant & Machinery, Plant & Machinery (fabrication), Electrical Installation, Moulds & dies, Computers, Office Equipments, Furniture & Fixtures and Vehicles.
As Per
Website Details
They are leading manufacturers and exporters of pharmaceuticals, beauty/ personal care products and nutritional supplements.
They aim to break new grounds each year to increase their growth and success.
They are on a mission to develop and market innovative quality products at
affordable prices that extend and enhance human life. A mission called
"SHALINA" for Stimulating, Hard-working, Adventurous, Loyal,
Inspiring, Novel and Accomplished.
With over 10 years experience in the pharmaceutical industry, Shalina's
products are well established and accepted by medical professionals and end
users alike in the African Continent.
Subject is a Government Recognised
Export House, is health and personal care company whose principal
business is the supply of pharmaceuticals; beauty care; personal care products;
nutritional supplements; medical devices and chemicals.
Shalina successfully develop and market innovative products that improve
enhance and extend human life; and they pride themselves on delivering total
quality products at an affordable price.
Their products are well established and accepted by medical professionals and
end users alike in the African Continent. Shalina's dosage forms include:
Capsules
Tablets
Injections
Vitamins
Oral liquids
Topical and opthalmic
preparations.
These dosage forms cover a number of therapeutic categories like Analgesics;
Antipyretics; Anti-inflammatories; Antacids; Antirheumatics; Antihistamines;
Expectorants; Diuretics; Cardiac and Vascular disorders; Vitamins; and
Nutritional supplements.
Subject’s branded products include Ampi, Diproson, Hemoforce, Tonic Shalina,
Sulfatrim, Shalcip, Betasol, Wormex, Super Apeti, Ibucap, Zanzicap, Amidol,
Malarquine, Shalvit, Shaltoux and Zamoxyl. This is further strengthened by a
wide range of generic drug formulations.
The Company's efforts were boosted after receiving the status of Government
Recognised Export House from the Director General of Foreign Trade, Government
of India, since 1995. In addition, Shalina has been honoured with the following
prestigious awards -
Since 1985, subject has been
accorded the status of Government
Recognised Export House by the Director General of Foreign Trade by the
Government of India.
Certificate
of Merit from CHEMEXCIL in 1994 - 95
Export Award excellent performance
by CHEMEXCIL in 1995-96
The
National Export Award for Outstanding Performance by The Government of India, Ministry of Commerce and Industry in
1998-99
The
Trishul Award for Best Performance from
CHEMEXCIL in 1998-99
Today, under the dynamic and outstanding leadership of Mr. Shiraz Virji, Managing Director, they are one of the fastest
growing pharmaceutical companies in India.
None of this tremendous growth would have been possible without the immense
contribution of their dedicated employees. As individuals and as a company
Shalina strongly believes in the values of fair treatment; ethical practices;
standards of excellence; safety and reliability and total quality management.
They are a full member of the following
professional bodies:
- Indian Drug Manufacturers Association
- Federation of Indian Exports Organization
- Basic Chemicals Pharmaceuticals & Cosmetics Export Promotion
Council
- Indian Merchants Chamber (Mumbai)
- Indo African Chamber of Commerce
- Indo China Chamber of Commerce
PRODUCTS
Please browse their Therapeutic Index below or choose from
the Product List. Alternatively,
use the Search option to find a product
using a keyword of the choice.
- Anaesthetics
- Analgesic,
Antipyretic and Anti-inflammatory
- Anthelmintic
- Anti
Hypertensive/ Cardiac Vascular
- Antiasthmatics
- Antibiotics
and Antibacterial
- Antidiarrhoeal
- Antifungal
- Antihistamine
- Antimalarial
- Antituberculosis
- Antiulcerant
and Antiflatulent
- Corticosteriod
- Cough Syrup &
Expectorant
- Diuretic
- Erectile
Disfunction
- Hormones
- Oral
Rehydration Salt
- Surgicals
- Topical
- Tranquilizer
- Vitamins and
Minerals
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 :
The 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.
The 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. 41.96 |
|
UK Pound |
1 |
Rs. 83.78 |
|
Euro |
1 |
Rs. 65.82 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
48 |
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
|
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, they have no basis upon which to
recommend credit dealings |
No Rating |
|