MIRA
INFORM REPORT
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Report Date : |
01.04.2011 |
IDENTIFICATION DETAILS
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Name : |
MANEESH PHARMACEUTICALS LIMITED |
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Registered Office : |
23-24, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
25.07.1985 |
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Com. Reg. No.: |
11-036952 |
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CIN No.: [Company
Identification No.] |
U24230MH1985PLC036952 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMM08382D |
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Legal Form : |
A Closely Held Public Limited Company |
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Line of Business : |
Manufacturing, Research, Development, Marketing and Distributing of Pharmaceuticals such as Analgin, Bechlor, Centrimide, Ehocophen, Anazepam, Digoxin, Furazo Iodine, Ibuprofen, Nyspirin, Resperin and Saccharin |
RATING & COMMENTS
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MIRA’s Rating : |
A (62) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 16145000 |
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Status : |
Good |
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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 having fine track. Financial Position is good. Directors are reported as experienced respectable and resourceful businessmen. Their trade relations are reported as fair. Payments are reported to be reguar and as per commitments. The company can be considered good for normal business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
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Registered Office : |
23-24, |
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Tel. No.: |
91-22-25202122/23/24 |
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Fax No.: |
91-22-25202121 |
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E-Mail : |
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Website : |
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Area : |
2000 Sq.ft – owned |
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Factory 1 : |
Plot No. 40, Ancillary Industrial Plots, Govandi, Mumbai-400043,
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Tel. No.: |
91-22-25565738/5559/7093 |
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Fax No.: |
91-22-25565620/7095/25565620/7093 |
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E-Mail : |
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Area : |
Owned |
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Location : |
[Around 10-12 manufacturing plants in |
DIRECTORS
As on 23.12.2010
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Name : |
Mr. Vinay Ramakant Sapte |
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Designation : |
Managing Director |
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Address : |
61-62, |
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Date of Birth/Age : |
01.06.1955 |
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Date of Appointment : |
25.07.1985 |
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DIN : |
00135085 |
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Name : |
Mr. Maneesh Ramakant Sapte |
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Designation : |
Director |
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Address : |
51-52, |
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Date of Appointment : |
01.10.2002 |
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Date of Birth/Age : |
28.06.1971 |
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DIN : |
00020450 |
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Name : |
Mrs. Rashmi Vinay Sapte |
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Designation : |
Director |
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Address : |
61-62, |
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Date of Appointment : |
30.03.2007 |
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Date of Birth/Age : |
09.02.1962 |
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DIN : |
00334247 |
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Name : |
Mr. Bharat Bachubhai Merchant |
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Designation : |
Additional Director |
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Address : |
8-A, |
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Date of Birth/Age : |
24.06.1948 |
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Date of Appointment : |
29.03.2010 |
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DIN : |
00300384 |
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Name : |
Mr. Pravin Mohandas Hegde |
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Designation : |
Director |
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Address : |
3, Saraf Sadan, |
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Date of Birth/Age : |
04.04.1963 |
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Date of Appointment : |
14.11.2007 |
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DIN : |
01404954 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 23.12.2010
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Names of Shareholders |
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No. of Shares |
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Rakesh Jhunjhunwala |
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1585500 |
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Maneesh R. Sapte Jty with Suman R Sapte |
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192480 |
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Mr. Vinay R. Sapte |
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7947156 |
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Rashmi Sapte |
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128320 |
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Mrs. Suman R. Sapte |
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192480 |
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RBC Trustees (CI) limited |
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329200 |
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Shweta N Shah |
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400000 |
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Rekha Rakesh Jhunjhunwala |
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578703 |
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Chanakya Corporate Services Private Limited |
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75000 |
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Amal |
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100000 |
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Suresh K Jajoo |
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40000 |
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Oricon Properties Private Limited |
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85700 |
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R. Venkatasubramaniam |
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40000 |
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Shanta Subramaniam |
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40000 |
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Jay Prakash Verma |
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22000 |
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Sayar K Jain |
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20000 |
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Sarvamanga Mercantile Company Limited |
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40000 |
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Kavita Gupta |
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15000 |
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Mr. Vinay Ramakant Sapte -Business |
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347223 |
As on 23.12.2010
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Category |
Percentage |
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Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
6.12 |
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Bodies corporate |
1.69 |
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Directors or relatives of Directors |
68.03 |
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Others |
24.16 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing, Research, Development, Marketing and Distributing of Pharmaceuticals such as Analgin, Bechlor, Centrimide, Ehocophen, Anazepam, Digoxin, Furazo Iodine, Ibuprofen, Nyspirin, Resperin and Saccharin |
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Products : |
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PRODUCTION STATUS AS ON (31.03.2010)
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Particulars |
Unit |
Installed
Capacity |
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Tablets |
Millions |
7795 |
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Capsules |
Millions |
2500 |
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Liquids |
Litres (Thousand) |
6000 |
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Injectables |
Millions |
41.70 |
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Ointments |
Tons |
6850 |
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Sachets |
Millions |
24.00 |
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Suspension |
Millions |
51.00 |
GENERAL INFORMATION
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Suppliers : |
·
Gautam Chemicals, Mumbai, ·
Esskay Fine Chemicals, Mumbai, · Boots India Limited |
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Customers : |
Wholesalers, Suppliers and Retailers
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No. of Employees : |
3000 (Approximately) |
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Bankers : |
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Facilities: |
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Banking
Relations : |
Satisfactory |
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Financial
Institution : |
IL and FS Trust Company Limited, IL and FS Financial Centreplot No. C22
G Block Bandra Kurla Complex, Bandra (East), Mumbai – 400051, |
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Auditors : |
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Name : |
M. Nanday and Company Chartered Accountants |
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Address : |
D/13, Samruddhi Co-operative Housing Society Limited, B. Parulekar
Marg, Dadar, Mumbai-400028, |
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Pan No. : |
AAAPN8681Q |
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Associates : |
· Maneesh Exports · Atul Pharma Agency |
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Subsidiaries : |
· Meghdoot Chemicals Limited CIN : U24110MH1970PLC014768 ·
Phaarmasia Limited Cin : 24239ap1981plc002915 ·
Svizera Labs Private Limited Cin : U74999mh1997ptc107389 · Pure Heath Products Private Limited Cin : U85199pn1988ptc047757 ·
Lasa Industrial Pharmaceutica Sa – ·
Faromed Handelsgeselcschaft Mbh – ·
·
Labortoria Sanobiol Sa Ltda – ·
Tillomed Laboratories Limited – ·
Tillomed Holdings Limited – |
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CAPITAL STRUCTURE
As on 23.09.2010
Authorised Capital : ( As on 31.03.2006 )
|
No. of Shares |
Type |
Value |
Amount |
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29,000,000 |
Equity Shares |
Rs. 10/- Each |
Rs. 290.000 Millions |
|
1,000,000 |
Preference Shares |
Rs. 10/-each |
Rs.10.000 millions |
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Total |
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Rs.300.000 millions |
Issued, Subscribed
& Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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12,152,859 |
Equity Shares |
Rs. 10/- Each |
Rs. 121.529 Millions |
|
347,223 |
Equity Shares |
Rs. 10/- Each |
Rs. 3.472 millions |
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Total |
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Rs.125.001 millions |
As on 31.03.2010
Authorised Capital : ( As on 31.03.2006 )
|
No. of Shares |
Type |
Value |
Amount |
|
29,000,000 |
Equity Shares |
Rs. 10/- Each |
Rs. 290.000 Millions |
|
1,000,000 |
Preference Shares |
Rs. 10/-each |
Rs.10.000 millions |
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Total |
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Rs.300.000 millions |
Issued, Subscribed
& Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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11,574,156 |
Equity Shares |
Rs. 10/- Each |
Rs. 115.742 Millions |
|
250,000 |
Preference Shares |
Rs. 10/-each |
Rs.2.500 millions |
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Total |
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Rs.118.242 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
118.242 |
115.742 |
101.047 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
3918.217 |
3687.225 |
3338.668 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
4036.459 |
3802.967 |
3439.715 |
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LOAN FUNDS |
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1] Secured Loans |
4458.563 |
5059.854 |
3688.654 |
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2] Unsecured Loans |
174.633 |
58.793 |
317.879 |
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TOTAL BORROWING |
4633.196 |
5118.647 |
4006.533 |
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DEFERRED TAX LIABILITIES |
208.683 |
171.113 |
117.649 |
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TOTAL |
8878.338 |
9092.727 |
7563.897 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2481.180 |
2315.570 |
2357.631 |
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Capital work-in-progress |
0.000 |
264.326 |
190.358 |
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INVESTMENT |
4604.345 |
805.238 |
641.050 |
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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 |
1294.289
|
1121.233 |
914.696 |
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Sundry Debtors |
1518.877
|
1592.973 |
1483.027 |
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Cash & Bank Balances |
170.891
|
648.533 |
722.882 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
1104.310
|
4347.664 |
3039.944 |
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Total
Current Assets |
4088.367
|
7710.403 |
6160.549 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
1698.803
|
1386.851 |
1210.264 |
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Other Current Liabilities |
364.604
|
397.844 |
338.887 |
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Provisions |
232.147
|
218.115 |
236.540 |
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Total
Current Liabilities |
2295.554
|
2002.810 |
1785.691 |
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Net Current Assets |
1792.813
|
5707.593 |
4374.858 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
8878.338 |
9092.727 |
7563.897 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
5735.785 |
6273.505 |
4729.468 |
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Other Income |
449.015 |
556.491 |
240.615 |
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TOTAL (A) |
6184.800 |
6829.996 |
4970.083 |
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Less |
EXPENSES |
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Cost of materials |
3476.464 |
4326.038 |
2805.981 |
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Personnel Cost |
353.073 |
320.105 |
307.342 |
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Manufacturing and other expenses |
1152.305 |
1183.046 |
985.123 |
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Preliminary Expenses Written off |
0.000 |
0.000 |
3.173 |
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TOTAL (B) |
4981.842 |
5829.189 |
4101.619 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1202.958 |
1000.807 |
868.464 |
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Less |
FINANCIAL
EXPENSES (D) |
472.813 |
514.815 |
179.636 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
730.145 |
485.992 |
688.828 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
199.484 |
185.208 |
124.434 |
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Exceptional
Items |
483.202 |
(2.019) |
204.090 |
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PROFIT BEFORE
TAX (E-F) (G) |
47.459 |
302.803 |
360.304 |
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Less |
TAX (I) |
45.664 |
104.319 |
106.238 |
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|
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PROFIT AFTER TAX
(G-I) (J) |
1.795 |
198.484 |
254.066 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
548.989 |
463.082 |
367.033 |
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|
|
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Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
100.000 |
100.000 |
100.000 |
|
|
|
Proposed Dividend |
11.574 |
10.750 |
49.589 |
|
|
|
Tax on Dividend |
1.922 |
1.827 |
8.428 |
|
|
BALANCE CARRIED
TO THE B/S |
437.288 |
548.989 |
463.082 |
|
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EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Export |
917.798 |
1047.652 |
|
|
|
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Other Earnings |
417.162 |
511.663 |
|
|
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TOTAL EARNINGS |
1334.96 |
1559.315 |
NA |
|
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IMPORTS |
|
|
|
|
|
|
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Raw Materials |
173.825 |
132.240 |
|
|
|
|
Capital Goods |
15.994 |
57.047 |
|
|
|
TOTAL IMPORTS |
189.819 |
189.287 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
45.85 |
27.98 |
25.62 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.03
|
2.91 |
5.11 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.83
|
4.83 |
7.62 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.72
|
3.02 |
4.23 |
|
|
|
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|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01
|
0.08 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.72
|
1.87 |
1.68 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.78
|
3.85 |
3.45 |
LOCAL AGENCY FURTHER INFORMATION
The company is a private limited company upto April 2007. The company was concerted into a deemed
public company w.e.f. may 2007.
OPRATIONAL
AND FINANCIAL PREFORMANCE
Sales and services (gross)for the year were Rs.6007.226
millions as against Rs.6654.565 millions in the previous year the lowering
of sales is due to less focus on FMHG
products in the tear 2009-10, as it require high amount of promotion
investment. The PBT (before considering exceptional item)was higher at
Rs.530.661 million as against Rs.302.804 million in the previous year
NEW
STATUS OF THE COMPANY
Effective 27th March, 2007, the company has been
converted to public limited company.
MERGER
AND AMALGATION
Two of the wholly owned subsidiaries – Bombay Biosyntex and
Chemical Private Limited Liability Company Limited and shanbag storage and
service private limited have been merge with the company under the order dated
12th June 2007 received from honorable high court of judicature at
Mumbai in this behalf. Both the subsidiaries where in operation for post few
years and were having profitable operations at the time of merger with the
company. Merger of this wholly own subsidiaries will create new synergies and
thus will be beneficial to the company.
ACQUISITION
The company acquired two manufacturing unit of Emcure at
Pune at the cost Rs.108.000 millions. This acquisition will be beneficial to
the company in due course. The company has been consistently endeavoring to
expand its operation through new projects.
On the global sense, Company acquired :
i) Laboratorial Sanobiol Limited Brazil at a cost of USD
7.90 Millions .
ii) Lasa Industrial Pharmaceutical Brazil at cost of USD
3.70 Millions by way of direct investment and USD1.575 Millions by way of
conversion of loan in to equity
iii) Faromed handelsgesellcsschaft MBH,
In all above acquisitions, company has secured 100%
ownership. This acquisition will give good impetus to operation of the company
SUBSIDIARYCOMPANIES
During the year company established a new wholly owned
subsidy in the named Svizera Holding B. V. Natherlands.
The financial statement of the subsidiaries are provided as
require U/s. 212 of the companies Act, 1956.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U24230MH1985PLC036952 |
|
Name of the
company |
MANEESH
PHARMACEUTICALS LIMITED |
|
Address of the
registered office or of the principal place of business in |
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|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
10151826 |
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Type of charge |
Immovable
Property |
|
Particular of
charge holder |
IL and FS Trust Company Limited, IL and FS Financial Centreplot No. C22
G Block Bandra Kurla Complex, Bandra (East), Mumbai – 400051, Email : itclroc@ilfsindia.com
|
|
Nature of
instrument creating charge |
No instrument
executed. A pari passu mortgage was created by mpl as guarantor for its wos
svizera holdings BV, Netherland (borrower) in favour of IL and FS trust
company limited as security trustee for the benefit of finance parties as
defined in facility agt. Dt. 24/09/07 by deposit of title deeds with the
security trustee in respect of mpl's lease hold immovable properties
described in sch-ii of moe attached hereto. |
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Date of
instrument Creating the charge |
26.03.2010 |
|
Amount secured by
the charge |
Rs.1788.300
millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest
- libor (as defined in facility agreement) plus margin of 2.15% p.a. payable
on each interest payment date (as defined facility agreement) Terms of
Repayment - six(6) half-yearly installments commencing 30 days from the
utilisation date (defined in the facility agreement) and ending on the final
maturity date viz. 60 months from the utilisation date. Margin - Not
Applicable Extent and
Operation of the charge - the charge shall rank as a first pari passu to
secure the repayment of usd 45,000,000/- (us dollars forty five million only)
by the borrower and due performance and discharge by mpl of its liabilities
and obligations as the guarantor to the finance parties under the facility
agreement |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
The leasehold
rights and interest of mpl in MIDC plot nos. C(11)15,S-25 and T-172 situate
in registration sub-district haveli and registration district
pune,maharashtra MIDC plot no d-16/7 ttc indl. Area turbhe, navi mumbai,
vashi. Registration, sub-district thane district and registration
district-thane and more particularly described in schedule ii of moe. |
|
Particulars of
the present modification |
The leasehold
rights and interest of mpl in MIDC plot nos c(11)15, S-25 and T-172, bhosari
pune and MIDC plot no d-16/7 ttc indl area, turbhe, navi mumbai. A pari passu
mortgage created by mpl as guarantor for its wos svizera holdings BV,
Netherland (borrower) in favour of IL and FS trust Company Limited as security trustee for the benefit of
finance parties |
CONTINGENT
LIABILITIES :
- In respect of guarantees executed by banks
on behalf of the company, Rs. 279.515 million (previous year Rs.241.856
million)
- In respect of guarantees executed by
banks and corporate guarantees executed by the company on behalf of the
subsidiary and associates of the company Rs.2809.198 million (previous
year Rs.3170.771 million)
- In respect of excise duty disputes
pending with various judicial authorities Rs.1.424 million (previous year
Rs.1.424 million)
Fixed Assets:
· Plant and Machinery
· Electrical Installation
· Vehicles
·
· Furniture and fixture
· Office Equipment
· Laboratory Equipment
· Office (Pune)
· Office (Chembur)
· Building
· Furniture unit Dwelling
· Computer
· Software
As Per Website
Corporate Overview
Subject evolved from a small trading activity in 1975 to a
highly sophisticated brand of quality and affordable healthcare today. Subject
is the fastest multiplying pharmaceutical company in
Subject is fast expanding globally through joint ventures and subsidiaries in
more than 70 countries across Africa, South America, Europe,
Subject pioneered in the revolutionary concept of providing the 4
first line Anti TB drugs together in granular form, packed in a Single Dose
Sachet through its globally registered brand SVIZERA. This Novel Drug Delivery
system is awaiting global patent. Subject is one of the leading manufacturers
and exporters of anti TB drugs globally. Subject is simultaneously focusing
mainly on its penetration in Indian market and a simultaneous application of
research and discovery of better drugs.
History
Subject incepted in 1975 with a small trading facility of
providing biological raw materials, with a gradual expansion in Manufacturing
of Generics followed by formulation and marketing of breakthrough brands.
2006
- International Patent Applications
published for Anti-TB formulation in a single dose sachet
- USFDA compliant manufacturing facility
at Himachal Pradesh
- Co-marketing arrangement between
‘Maneesh and Kopran’ for the well known ‘Smyle’ Products range
- R and D
Centre
2005
- Acquisition of ‘Pharmacia'
- Clinical Research Organization commenced
- Tie up with ‘Se-Cure' Pharmaceuticals
Israel, for the sole marketing and distribution rights in
- Acquired
marketing and distribution countrywide from Pune based Pure Health
Products Private Limited and merged with Maneesh Healthcare
2004
- Acquired domestic marketing and
distribution countrywide from Sigma labs.
- Independent Antibiotic Facility
Commenced
- Svizera-Europe Tie Up
- Proud
recipient of the 3G- 2004 award for Introduction of rationalized Fixed
Dose Combination of 2, 3 and 4 Anti TB drugs in Sachet.
2003
- Launch Of 4
Fixed Dose Combination In Sachet, First Time In The World
- Amoxicillin
Clavulanate With Lactic Acid Bacillus For The First Time In The World
- WHO-Geneva
Approval
2002
- Supply Of Anti-TB
Drugs in 77 Countries Trough WHO-Global Drug Facility
- Acquired
Glaxo Facility Dedicated To Hormones Approved By Glaxo SmithKline Plc
2001
- First Time 4 FDC tablet Approved By
WHO-Global Drug Facility For Worldwide Program
- Installed
Imported, hi tech Sophisticated Machinery
2000
- First 3 FDC In Single Dose Formulation For TB
1999
- First 4 Fixed Dose Combination As Per
WHO Recommendations
- Dedicated
Anti-TB Manufacturing Facility
1998
- Tie Up With
Medical Export Group (
1994
- Exports
Commenced
1992
- WHO-GMP For
The First Plant In Mumbai
Management
The journey from a small trading activity to an Indian multinational is because of the able, focused and persevering efforts and direction of the core team. The hard working team is the one, who are responsible to make it happen.
Formulations
Today, subject is one of the leading producers and suppliers
of Anti TB range in
· Maneesh Healthcare
· Svizera Healthcare
· Maneesh - OTC
Active Ingredients
"Maneesh” Pharmaceuticals provides Direct Compressible Grade Active Pharmaceutical Ingredients . Thus the APIs supplied by "Maneesh" Pharmaceuticals are value added APIs . “Maneesh” Pharmaceuticals has developed APIs for generics such as Metoformin 90 % and 95 %, Cifixime for tablets, Ciprofloxacin for tablets and Erythromycin strareade.
We further solicit your inquiries for
development of APIs based on customised requirements. For details email them at
“maneesh@maneeshpharma.com"
Associates
At the company they take this opportunity to thank their customers, partners and associates for their support. Encouraged by the mutually beneficial association and success and motivated by the partners support they are ready to explore yet another business opportunity. They take a great pleasure in announcing the tie up with KOPRAN for co-marketing and distribution of the OTC/ FMCG Range of Products, The SMYLE Range of products. The product range includes Mouth Ulcer Gel, Sore Throat Reliever, Herbal Toothpaste, Vaporub, Throat Drops, Prickly Heat Powder and many more. All these products are available for distribution from January 2006.They are confident that with retail coverage you have in the market, together they can make these products available in every chemist outlet in the respective city. Needless to say, SMYLE comes with ATTRACTIVE SCHEMES to enhance the earnings.
For Maneesh Pharmaceuticals
Private Limited
NAME
AND ADDRESS OF CA / C and F AGENT
|
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.65 |
|
|
1 |
Rs.71.92 |
|
Euro |
1 |
Rs.63.24 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
62 |
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 |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.