MIRA INFORM REPORT

 

 

 

Report Date :

20.05.2008

 

IDENTIFICATION DETAILS

 

Name :

RETOR DIAGNOSTICS PRIVATE LIMITED

 

 

Registered Office :

509, 8th main, 4th cross, Vijaynagar, Bangalore 560040, Karnataka

 

 

Country :

India

 

 

Financials (as on) :

31.03.2008

 

 

Date of Incorporation :

19.09.2002

 

 

Com. Reg. No.:

031018

 

 

CIN No.:

[Company Identification No.]

U51102KA2002PTC031018

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

BLRR05420C

 

 

PAN No.:

[Permanent Account No.]

AACCR3056Q

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Trader of Medical Equipments

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

Small

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow

 

 

Litigation :

Clear

 

 

Comments :

Subject is 6 Years old Company but has not filed any financials with the Government Departments till date.  Mr. Pallaksha parted general information, but declined to part with financials.  Trade relations are fair.  Payments are reported as slow but correct.

 

The Company can be considered for small to mediocre business dealings with slight caution initially, in view of non availability of financials.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Pallaksha

Designation :

Director

Contact No.:

91-9844110158

Date :

17.05.2008

 

 

LOCATIONS

 

Registered Office :

509, 8th main, 4th cross, Vijaynagar, Bangalore 560040, Karnataka, India

Tel. No.:

91-80-23306621 / 23206121

Mobile No.:

91-9844110158

E-Mail :

avlbloreb@vsnl.net

Area :

800 Sq. fts.

Location :

Owned

 

 

DIRECTORS

 

Name :

Mr. M. Palaksha

Designation :

Director

Address :

509, 8th main, 4th Cross, Vijay Nagar, Bangalore 560040, Karnataka, India

Date of Birth/Age :

08.04.1971

Date of Appointment :

19.09.2002

 

 

Name :

Mr. K. S. Shilpa

Designation :

Director

Address :

2248, Near Mahantimutta Nela Mangala, Bangalore 560023, Karnataka, India

Date of Birth/Age :

09.04.1980

Date of Appointment :

19.09.2002

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

[As on 30.09.2005]

 

Names of Shareholders

 

No. of Shares

M. Palaksha

 

800

K. S. Shilpa

 

200

 

 

BUSINESS DETAILS

 

Line of Business :

Trader of Medical Equipments

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

L/C

 

 

GENERAL INFORMATION

 

Customers :

End Users

 

 

No. of Employees :

8

 

 

Bankers :
  • ICICI Bank, Bangalore Branch
  • State Bank of India, Rajajinagar, Bangalore 560044

 

 

Facilities :

OD Rs. 4.000 Millions

 

 

 

Banking Relations :

Satisfactory

 

 

Auditors :

 

Name :

Raj and Company

Chartered Accountants

Address :

Bangalore

 

 

CAPITAL STRUCTURE

 

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

160000

Equity Shares

Rs. 10/- each

Rs. 1.600 Millions

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

Particulars

 

 

31.03.2008

31.03.2007

Sales Turnover

 

30.000

22.800

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Trade References:

 

Form 8

 

Bankers Charges Report as per Registry

 

 

Name of the company

RETOR DIAGNOSTICS PRIVATE LIMITED

Presented By

State Bank of India

Rajajinagar, Bangalore 560044

1) Date and description of instrument creating the change

17.03.2005. Agreement of hypothecation of goods and assets.  Letter regarding the grant of individual limits within the limit 

2) Amount secured by the charge/amount owing on the securities of charge

Rs. 1.500 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

Hypothecation of all present and future goods, book debts and all other movable assets of the borrower including documents of title to goods, outstanding monies, 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 draw back credit scheme or any other scheme, bills, invoice, documents, contracts, insurance policies, guarantees, engagements, securities, investments, rights and hypothecation  of the present machinery and all future machinery including machinery purchased/ to be purchased out of Bank Finance/own finance belonging to or in the possession or under the control of the borrower wherever lying, stored and kept and whether in possession of the borrower wherever lying, stored and kept and whether in possession of the borrower or of the bank or of any third party whether in India or elsewhere through out the world including all such goods, other movable assets as may be in course of shipment, transit or delivery, by way of first charge. scheme, claims, including claims by way of refund of customs/excise duties under the duty draw back credit scheme or any other scheme, bills, invoice, documents, contracts, insurance policies, guarantees, engagements, securities, investments, rights and hypothecation  of the present machinery and all future machinery including machinery purchased/ to be purchased out of Bank Finance/own finance belonging to or in the possession or under the control of the borrower wherever lying, stored and kept and whether in possession of the borrower wherever lying, stored and kept and whether in possession of the borrower or of the bank or of any third party whether in India or elsewhere through out the world including all such goods, other movable assets as may be in course of shipment, transit or delivery, by way of first charge.  

4) Gist of the terms and conditions and extent and operation of the charge.

Rate of interest : 0.75% above SBAR: Rate 11% p.a. with periodical rests and/or at such rates and rests as may be specified by the Bank from time to time.

Margin 25% on RM/SIP/FG and 40% Book Debts/Receivables

Repayment : On Demand

 

5) Name and Address and description of the person entitled to the charge.

State Bank of India

Rajajinagar Industrial Estate Branch, Bangalore 560044, [A Banking Company]

6) Date  and brief description of instrument modifying the charge

NA

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

 

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. 42.64

UK Pound

1

Rs. 83.00

Euro

1

Rs. 66.00

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILIRY

1~10

3

--LIQUIDITY

1~10

4

--LEVERAGE

1~10

4

--RESERVES

1~10

3

--CREDIT LINES

1~10

3

--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

NO

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

33

 

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

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions