MIRA
INFORM REPORT
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Report Date : |
30.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
CECIL PHARMACEUTICALS PRIVATE LIMITED |
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Registered
Office : |
Plot No. 2,3, 8 and 9, EPIP Sidco, Kortholi, Bari-Brahmana, |
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Country : |
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Financials (as
on) : |
31.03.2009 |
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Date of
Incorporation : |
19.03.1996 |
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Com. Reg. No.: |
07-001523 |
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CIN No.: [Company Identification
No.] |
U24231JK1996PTC001523 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
AMRC11040B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Supplier of Pharmaceutical medicines, capsule,
tablets, dry injection, dry powder syrup etc.
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RATING & COMMENTS
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MIRA’s Rating : |
B (27) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 24000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. There appears
huge accumulated losses recorded by the company. However, trade relations are
reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution.
|
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
|
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 : |
Plot No. 2,3, 8 and 9, EPIP Sidco, Kortholi, Bari-Brahmana, |
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Tel. No.: |
91-1923-220564 |
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E-Mail : |
DIRECTORS
AS ON 30.09.2009
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Name : |
Mr. Jairamdas Prabhudas Badlani |
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Designation : |
Chairman |
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Address : |
9, Jamna Colony, |
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Date of Birth/Age : |
28.09.1927 |
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Date of Appointment : |
08.11.2005 |
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DIN No.: |
00082855 |
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Name : |
Mr. Harihar Nath R. Gandotra |
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Designation : |
Managing Director |
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Address : |
206-C, Sector – 5, Trikuta Nagar, |
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Date of Appointment : |
08.11.2005 |
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DIN No.: |
01186120 |
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Name : |
Mr. A. Bhajew Lal Khatri |
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Designation : |
Director |
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Address : |
9, Gopal Bagh, |
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Date of Appointment : |
08.11.2005 |
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Name : |
Dr. Subhash Bodhwa Mal Rijhwani |
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Designation : |
Director |
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Address : |
Flat No. 203, |
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Date of Birth/Age : |
11.06.1955 |
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Date of Appointment : |
08.11.2005 |
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DIN No. : |
00155029 |
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Name : |
Mr. Mahesh Jairamdas Badlani |
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Designation : |
Director |
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Address : |
8, Jamna Colony, |
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Date of Birth/Age : |
08.01.1969 |
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Date of Appointment : |
08.11.2005 |
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DIN No.: |
00070393 |
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Name : |
Mr. Amit Chander Raman Gandotra |
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Designation : |
Director |
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Address : |
51 – A, Gandhi Nagar, |
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Date of Appointment : |
08.11.2005 |
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DIN No.: |
00883346 |
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Name : |
Mr. Kunal HariHarnath Gandotra |
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Designation : |
Director |
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Address : |
206-C, Sector – 5, Trikuta Nagar, |
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Date of Appointment : |
08.11.2005 |
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DIN No.: |
00883338 |
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Name : |
Mr. Venkata Rama Raju Indukuri |
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Designation : |
Additional Director |
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Address : |
501, Door No. 8-3-224/2, |
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Date of Birth/Age : |
25.05.1977 |
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DIN No.: |
00065626 |
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Name : |
Mr. Pankaj Jairamdas Badlani |
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Designation : |
Director |
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Address : |
9, Jamna Colony, |
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Date of Birth/Age : |
03.01.1973 |
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DIN No.: |
00069755 |
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Name : |
Mr. Chander Raman Gandotra |
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Designation : |
Director |
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Address : |
Director |
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Date of Birth/Age : |
51 – A, Gandhi Nagar, |
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Date of Appointment : |
19.03.1996 |
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DIN No.: |
00909348 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2009
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Names of Shareholders |
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No. of Shares |
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Harihar Nath Gandotra |
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50 |
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Chandra Raman Gandotra |
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50 |
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Harihar Nath Gandotra and Raman Gandotra |
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99880 |
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Kunal Gandotra |
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10 |
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Amit Gandotra |
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10 |
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J. P. Badlani |
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10 |
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S. B. Rijhwani |
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10 |
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Mahesh Badlani |
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10 |
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Pankaj Badlani |
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10 |
|
Promed Labs Private Limited |
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99960 |
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200000 |
As On 10.02.2011
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List of Allottees |
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No. of Shares |
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Indukuri Subbaraju |
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250000 |
AS ON 30.09.2009
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Category |
Percentage |
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Bodies corporate |
49.96 |
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Directors or relatives of Directors |
50.04 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Supplier of Pharmaceutical medicines, capsule,
tablets, dry injection, dry powder syrup etc.
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Products : |
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Terms : |
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Selling : |
L/C, Cash, Credit (30 days, 60
days, 90 days) |
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Purchasing : |
L/C, Cash, Credit (30 days, 60
days, 90 days) |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Ashwani Khajuria and Company Chartered Accountant |
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Address : |
201, IInd Floor, North Block, |
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Pan No.: |
ABFPK6669M |
CAPITAL STRUCTURE
AS ON 31.03.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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200000 |
Equity Shares |
Rs.100/- each |
Rs. 20.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
105500 |
Equity Shares |
Rs.100/-
each |
Rs. 10.550
Millions |
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AS ON 30.09.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
200000 |
Equity Shares |
Rs.100/- each |
Rs. 20.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
200000 |
Equity Shares |
Rs.100/-
each |
Rs. 20.000
Millions |
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After 30.09.2009
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
500000 |
Equity Shares |
Rs.100/- each |
Rs. 50.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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355500 |
Equity Shares |
Rs.100/-
each |
Rs. 35.550
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
10.550 |
10.550 |
0.550 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
10.534 |
10.534 |
0.000 |
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4] (Accumulated Losses) |
(15.055) |
(4.038) |
(0.121) |
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NETWORTH |
6.029 |
17.046 |
0.429 |
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LOAN FUNDS |
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1] Secured Loans |
52.648 |
49.090 |
25.958 |
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2] Unsecured Loans |
18.754 |
5.526 |
1.580 |
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TOTAL BORROWING |
71.402 |
54.616 |
27.538 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
77.431 |
71.662 |
27.967 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
67.831 |
71.605 |
32.308 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
1.500 |
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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 |
11.684
|
2.116 |
0.000 |
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Sundry Debtors |
21.017
|
3.929 |
0.000 |
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Cash & Bank Balances |
5.934
|
3.442 |
0.068 |
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Other Current Assets |
0.000
|
0.000 |
0.427 |
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Loans & Advances |
1.814
|
3.120 |
5.231 |
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Total
Current Assets |
40.449
|
12.607 |
5.726 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
23.688
|
8.126 |
13.843 |
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Other Current Liabilities |
9.691
|
7.925 |
0.151 |
|
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Provisions |
0.474
|
0.505 |
0.000 |
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Total
Current Liabilities |
33.853
|
16.556 |
13.994 |
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Net Current Assets |
6.596
|
(3.949) |
(8.268) |
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MISCELLANEOUS EXPENSES |
3.004 |
4.006 |
2.427 |
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TOTAL |
77.431 |
71.662 |
27.967 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
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SALES |
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Income |
51.697 |
5.009 |
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Other Income |
0.056 |
2.116 |
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TOTAL |
51.753 |
7.125 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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Financial Expenses |
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TOTAL |
53.093
|
8.765 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
(1.340) |
(1.640) |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
9.676 |
2.277 |
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PROFIT BEFORE
TAX |
(11.016) |
(3.917) |
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Less |
TAX |
0.000 |
0.000 |
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PROFIT AFTER TAX
|
(11.016) |
(3.917) |
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Earnings Per
Share (Rs.) |
(104.42) |
(37.13) |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
PAT / Total Income |
(%) |
(21.29)
|
(54.98) |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
(21.31)
|
(78.20) |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
(10.17)
|
(4.65) |
NA |
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Return on Investment (ROI) (PBT/Networth) |
|
(1.83)
|
(0.23) |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
|
17.46
|
4.18 |
96.81 |
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Current Ratio (Current Asset/Current Liability) |
|
1.19
|
0.76 |
0.41 |
LOCAL AGENCY FURTHER INFORMATION
Note :
The registered office address of the company has been shifted from 51A,
Gandhi Nagar,
Form 8:
|
Corporate
identity number of the company |
U24231JK1996PTC001523 |
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|
Name of the
company |
CECIL
PHARMACEUTICALS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
51a,Gandhi Nagar,
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This form is for |
Creation of
charge |
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Type of charge |
Book Debts Movable Property Floating Charge |
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Particular of
charge holder |
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Nature of
instrument creating charge |
1. Omnibus Agreement/Deed
Of Hypothecation Dt. 13.10.2010 2. Sanction
Letter Dt. 09.10.2010 3. NOC From SBI. |
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Date of
instrument Creating the charge |
13.10.2010 |
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Amount secured by
the charge |
Rs. 100.000
Millions |
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Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest
- 1.EPC Upto 270 Days-Br(8.5%)+1.75%P.A , Beyond 270 Days Upto 360 Days-Br+
2% 2.Fdbp On Demand Bills -Br+1.75%P.A, Usance Bills Upto 180 Days-Br+1.75%,
Beyond 180 Days Upto 365days Br+2.50%Pa Terms of
Repayment - Repayable On Demand. Margin - Export
Receivables (Upto 180 Days) For Which Drawing Power Should Be Allowed. Export Receivables More Than 180 Days
Will Not Be Considered For Purpose of FDBP. |
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Particulars of
the property charged |
PART-I- (Plant
and Machinery) Hypothecation of all Machinery and Plant Computer Hardware and
all Accessories Consumables etc, Power back up Systems and other equipment
with second charge on all fixed assets of the company both present and
future.( first charge with SBI, Baribrahmana Branch, Jammu) PART-II- (STOCK)
Hypothecation of All current assets paripassu with SBI, Baribrahmana Branch, PART-III (BOOK
DEBTS)- Hypothecation of export receivables of the company both present and
future. |
Fixed Assets:
- Land
- Building
- Plant and machinery
- Lab. Equipment
- Computer
- D G Set
- Misc. Fixed Asset
- Furniture and Fixture
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.44.38 |
|
|
1 |
Rs.73.88 |
|
Euro |
1 |
Rs.65.83 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
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|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
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.