MIRA
INFORM REPORT
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Report Date : |
20.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
BIOGENETIC DRUGS PRIVATE LIMITED |
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Registered Office : |
66, Mathur Vaish Nagar Tonk Road, Jaipur – 302 011, Rajasthan |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
23.01.2004 |
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Com. Reg. No.: |
17-18909 |
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CIN No.: [Company
Identification No.] |
U24232RJ2004PTC018909 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
JPRB02278D /JPRB02347C |
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PAN No.: [Permanent
Account No.] |
AACCB3897K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Pharmaceuticals Products. |
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 220000 |
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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 company meetings its
normal commitments timeously. Trade relations are fair. Business is active. The company can be considered good for normal business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Vinod Sharma |
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Designation : |
Accountants |
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Contact No.: |
91-9413385204 |
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Date : |
19.06.2008 |
LOCATIONS
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Registered Office : |
66, Mathur Vaish Nagar Tonk Road, Jaipur – 302 011, Rajasthan,
India |
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Tel. No.: |
91-141-2549423 / 2550345 / 2549364 / 272161 |
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Mobile No.: |
91-9413385204 |
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Fax No.: |
91-141-2551779 |
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E-Mail : |
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Website : |
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Area : |
5400 Sq.fts |
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Location : |
Owned |
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Factory : |
Village Jharmazri Baddi District, Solan-174 103 , Himachal Pradesh,
India |
DIRECTORS
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Name : |
Mr. Mukut Bihari Goyal |
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Designation : |
Director |
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Address : |
66, Mathur Vaish Nagar, P O Airport,
Tonk Road, Jaipur – 302 011, Rajasthan |
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Date of Birth/Age : |
02.07.1955 |
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Qualification : |
Post Graduate |
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Date of Appointment : |
23.01.2004 |
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Name : |
Mrs. Mukta Goyal |
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Designation : |
Director |
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Address : |
66, Mathur Vaish Nagar, P O Airport,
Tonk Road, Jaipur – 302 011, Rajasthan |
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Date of Birth/Age : |
01.11.1963 |
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Qualification : |
Post Graduate |
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Date of Appointment : |
01.05.2006 |
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Directorship in other Companies: |
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CIN of the Company : |
U24232RJ2005PTC020676 |
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Name of Company : |
Smilax Healthcare Private Limited |
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Designation : |
Director |
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CIN of the Company : |
U24232RJ2004PTC019771 |
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Name of Company : |
Wright Care Drugs Private Limited |
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Designation : |
Director |
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CIN of the Company : |
U24232RJ2003PTC018009 |
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Name of Company : |
Duramed Healthcare (India) Private Limited |
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Designation : |
Director |
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CIN of the Company : |
U24232RJ1991PTC006078 |
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Name of Company : |
Smilax Pharmaceuticals private Limited |
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Designation : |
Director |
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CIN of the Company : |
U24232RJ2004PTC019771 |
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Name of Company : |
Wright Care Drugs Private Limited |
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Designation : |
Director |
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CIN of the Company : |
U74950RJ2005020452 |
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Name of Company : |
Cure Well Packaging Private Limited |
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Designation : |
Director |
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CIN of the Company : |
U24232RJ2005PTC021611 |
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Name of Company : |
Wright Care Remedies Private Limited |
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Designation : |
Director |
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Name : |
Mr. Prassan Kumar Singh |
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Designation : |
Director |
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Address : |
Bhardwaj Bhawan, New Area, Kadam Kuan, Patna, Bihar, Uttar Pradesh,
India |
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Date of Appointment : |
23.01.2004 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders (As on 31.03.2005) : - |
No. of Shares |
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Mr. Goyal Bihari Mukut |
5000 |
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Mr. Prassan Kumar Singh |
5000 |
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Total
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10000 |
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Name Of Allottee
(As on 31.03.2007) ;- |
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Real Gold Trading Company Private Limited |
20000 |
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Javda India Impex Limited |
20000 |
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Yash V Jewels Limited |
20000 |
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Alka Diamond Industries Limited |
40000 |
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S R Cables Private Limited |
20000 |
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Hillridge Investments Limited |
20000 |
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Parishudh Finance Company Private Limited |
20000 |
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Finage Leasing and Finance India Limited |
20000 |
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Pelicon Finance and Leasing Limited |
20000 |
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Total
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200000 |
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Category
(As on 31.03.2007) :- |
Percentage
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Bodies Corporate |
10.00 |
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Directors or relative of directors |
90.00 |
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Total
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Pharmaceuticals Products. |
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Terms : |
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Selling : |
Credit |
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Purchasing : |
Credit |
GENERAL
INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
350 |
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Bankers : |
Punjab National Bank, Marrahanwala, District Panchkula – 134 102, Haryana
,India |
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Facilities : |
·
Cash Credit
– Rs. 41.000 millions ·
Term Loan –
Rs. 40.000 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
S R Surana and Company Chartered Accountants |
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Address : |
Paras Bhawan, Haldiyon Ka Rasta, Johri Bazar, Jaipur – 302 003,
Rajasthan, India |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
(As on
31.03.2007):-
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2700000 |
Equity Shares |
Rs. 10/- each |
Rs. 27.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2200000 |
Equity Shares |
Rs. 10/- each |
Rs.22.000
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
22.000 |
22.609 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
15.465 |
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3] Reserves & Surplus |
23.540 |
13.682 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
45.540 |
36.291 |
15.565 |
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LOAN FUNDS |
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1] Secured Loans |
68.384 |
52.309 |
34.045 |
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2] Unsecured Loans |
8.782 |
2.200 |
0.000 |
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TOTAL BORROWING |
77.166 |
54.509 |
34.045 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
122.706 |
90.800 |
49.610 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
87.986 |
74.745 |
0.978 |
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Capital work-in-progress |
0.000 |
0.000 |
42.025 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
40.244
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16.161 |
0.682 |
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Sundry Debtors |
37.019
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28.964 |
0.000 |
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Cash & Bank Balances |
0.000
|
0.000 |
5.839 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
0.000
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0.000 |
0.447 |
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Total
Current Assets |
77.263
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45.125 |
6.968 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
40.816
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29.274 |
2.644 |
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Provisions |
1.880
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0.000 |
0.011 |
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Total
Current Liabilities |
42.696
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29.274 |
2.655 |
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Net Current Assets |
34.567
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15.851 |
4.313 |
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MISCELLANEOUS EXPENSES |
0.153 |
0.204 |
2.294 |
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TOTAL |
122.706 |
90.800 |
49.610 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.63
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2.31 |
2.36 |
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Current Ratio (Current Asset/Current Liability) |
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1.81
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1.54 |
2.62 |
LOCAL AGENCY
FURTHER INFORMATION
TRADE REFERENCES:-
·
Lupin Limited,
Mumbai, Maharashtra, India
·
Intas Pharmaceuticals
Limited , Ahmedabad , Gujarat, India
FORM 8:-
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Name of the
company |
BIOGENETIC DRUGS PRIVATE LIMITED |
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Presented By |
Mr. M B Goyal, Director |
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1) Date and
description of instrument creating the change |
Term Loan agreement
(Building) dated 04.02.2005 |
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2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 12.000
millions |
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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 |
Land and Building
at plot Msg. 3 bigha, 13 bishwa at village Jharmajri, Pargana (HP) bearing
Khata / Khatoni No. 58/61 Khasra No. 195/2/2-10, 197/2/1-3, Kite 2. |
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4) Gist of the terms
and conditions and extent and operation of the charge. |
Margin 25%
interest @12.75% |
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5) Name and
Address and description of the person entitled to the charge. |
Punjab National
Bank Branch Office : Marrahanwala District Panchkula, Haryana |
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6) Date and brief description of instrument
modifying the charge |
NA |
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7) Particulars of
modifications specifying the terms and conditions or the extent of operations
of the charge in which modification is made and the details of the
modification. |
NA |
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Corporate
identity number of the company |
U24232RJ2004PTC018909 |
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Name of the
company |
BIOGENETIC DRUGS
PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
66, Mathur Vaish Nagar Tonk Road, Jaipur – 302 011, Rajasthan,
India |
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This form is for |
Creation of
Charge |
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Type of charge |
Immovable
property |
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Particular of
charge holder |
Punjab National
Bank Address:
Marahanwala, Panchkula, Haryana -124 102, India E-mail: mpk927@gmail.com |
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Nature of
instrument creating charge |
Term Loan
agreement (Building and Machinery) Letter of
continuity |
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Date of
instrument Creating the charge |
02.04.2008 |
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Amount secured by
the charge |
Rs. 10.000
millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest
: 13.50% (BPLR
-0.50%) Margin: 25% Extent and
Operation of the Charge : 100% |
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Short Particulars
of the present modification |
Equitable
mortgage industrial property (incl. Building) situated at Vill – Jharmajri ,
Baddi, The, Nalagarh, Dsitrict Solan (HP) Khewat No. 58, Khatoni No. 61, Khasra No. 195/2 (1-3). Hypothecation Plant
and Machinery and other fixed assets Other properties
as per agreements attached. |
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.93 |
|
UK Pound |
1 |
Rs.84.17 |
|
Euro |
1 |
Rs.66.82 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
|
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 |
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 |
|
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
|
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 |
|