MIRA
INFORM REPORT
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Report Date : |
27.08.2011 |
IDENTIFICATION DETAILS
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Name : |
MEDIVED INNOVATIONS PRIVATE LIMITED |
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Registered Office : |
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Country : |
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Financials (as
on) : |
31.03.2008 |
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Date of Incorporation : |
27.02.2007 |
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Com. Reg. No.: |
08-041916 |
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Capital
Investment / Paid-up Capital : |
Rs 2.750 Millions |
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CIN No.: [Company
Identification No.] |
U33119KA2007PTC041916 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRM11543A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Importer of Pace Maker |
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No. of Employees : |
18 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ca (14) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a company having moderate track. The company has not filed
the financial of the company with the government department after 2008.
However, business is active. Payments terms are unknown. The company can be considered for business dealings on a secured trade
terms and conditions |
INFORMATION PARTED BY
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Name : |
Mr Raghu |
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Designation : |
Accounts Manager |
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Contact No.: |
91-9986140225 |
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Date : |
25.08.2011 |
LOCATIONS
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Registered Office / Factory : |
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Tel. No.: |
91-80-30584333 |
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Mobile No.: |
91-9845038417 |
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Fax No.: |
91-80-30584344 |
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E-Mail : |
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Website : |
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Location : |
Leased |
DIRECTORS
As on 22.09.2008
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Name : |
Mr. Dinesh Puri |
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Designation : |
Director |
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Address : |
No. 23, |
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Date of Birth/Age : |
26.08.1955 |
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Qualification : |
B. Sc. |
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Date of Appointment: |
27.02.2007 |
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DIN No.: |
00269615 |
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Other Directorship: |
Altius Technosoft Private Limited CIN No.: U72200KA2000PTC026288 |
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Name : |
Mr. Satyam Choudhary Cherukuri |
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Designation : |
Director |
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Address : |
31, |
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Date of Birth/Age : |
15.08.1956 |
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Qualification : |
P.H.D. |
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Date of Appointment: |
27.02.2007 |
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DIN No.: |
01294234 |
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Name : |
Mr. Subharao Parvathaneni |
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Designation : |
Alternate Director |
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Date of Birth/Age : |
13.11.1941 |
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Date of Appointment: |
26.03.2007 |
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DIN No.: |
01407852 |
KEY EXECUTIVES
|
Name : |
Mr Raghu |
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Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 22.09.2008
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Names of Shareholders |
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No. of Shares |
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Dinesh Puri |
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10000 |
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Satyam Chaudary Cherukuri |
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10000 |
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MEMG International Limited |
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7500 |
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Total |
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27500 |
Equity Share Break up (Percentage of Total Equity)
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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 |
27.27 |
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Directors or relatives of Directors |
72.73 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Pace Maker |
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Exports : |
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Products : |
Pacemaker |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Credit |
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Purchasing : |
Cash |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
18 (Approximately) |
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Bankers : |
Axis Bank, Whitefied Branch |
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Banking
Relations : |
-- |
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Financial
Institute: |
Department Of Biotechnology, Block 2, CGO Cmplex, |
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Auditors : |
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Name : |
Panth and Company Chartered Accountant |
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Address : |
No. 37, 2nd Cross, |
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PAN.: |
AAHFP3672Q |
CAPITAL STRUCTURE
As on 31.03.2008
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs. 100/- each |
Rs. 5.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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27500 |
Equity Shares |
Rs. 100/- each |
Rs 2.750 Millions |
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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2.750 |
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2] Share Application Money |
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0.00 |
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3] Reserves & Surplus |
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124.676 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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127.426 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
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2] Unsecured Loans |
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0.000 |
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TOTAL BORROWING |
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0.000 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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127.426 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.123 |
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Capital work-in-progress |
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0.111 |
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INVESTMENT |
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118.664 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
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Sundry Debtors |
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0.000 |
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Cash & Bank Balances |
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1.356 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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0.770 |
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Total
Current Assets |
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2.126 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Sundry Creditors |
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Other Current Liabilities |
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1.310 |
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Provisions |
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0.074 |
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Total
Current Liabilities |
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1.384 |
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Net Current Assets |
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0.742 |
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7.786 |
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MISCELLANEOUS EXPENSES |
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TOTAL |
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127.426 |
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Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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Sales Turnover (Approximately) |
3.000 |
2.000 |
0.400 |
The above information has been parted by Mr Raghu
KEY RATIOS
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PARTICULARS |
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31.03.2008 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.01 |
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Current Ratio (Current Asset/Current Liability) |
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1.54 |
LOCAL AGENCY FURTHER INFORMATION
Form 8:
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This form is for |
Creation of
charge |
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Corporate
identity number of the company |
U33119KA2007PTC041916 |
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Name of the
company |
MEDIVED INNOVATIONS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
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Type of charge |
Movable Property |
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Particular of
charge holder |
Department Of Biotechnology, Block 2, CGO Cmplex, |
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Nature of
description of the instrument creating or modifying the charge |
Deed of
Hypothecation dated 16.05.2011 read with the agreement executed between the Department
of Biotechnology and M/s. Medived Innovations Private Limited., |
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Date of
instrument Creating the charge |
16.05.2011 |
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Amount secured by
the charge |
Rs 15.000
millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Upto 10.000
Millions : 1% More Than 10.000
Millions : 2% Terms of
Repayment Repayable in 10 equal
yearly installments starting six months after completion of the project Margin 39.56% Extent and
Operation of the charge The whole of
movable and immovable properties acquired from the loan sanctioned by the DBT
under the SBIRI scheme including its movable plant and machinery, machinery
spares, tools and accessories and other movables both present and future
(save and except book debts) Others |
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Short particulars
of the property charged |
i)Whole of the
movable and immovable properties acquired from the loan sanctioned by the DBT
under the SBIRI scheme ii) The above movable and immovable properties
includes movable plant and machinery, machinery spares, tools and accessories
and other movables both present and future (save and except book debts) |
Website Details:
About Us
MediVed is one of the few companies in the world that owns core
technology in the Cardiac Rhythm Management (CRM) space to make complex active implantable
devices such as the implantable grade Cardiac Pacemaker and Cardiac Lead.
MediVed’s proven technology in the CRM field comes with a 35 year Heritage in
making high quality CE approved devices and an impeccable track record with
over 30,000 successful implants worldwide through its Collaboration with CCC.
Our well qualified, experienced and multidisciplinary engineering and
manufacturing teams are able to achieve its cost and quality goals
by being significantly vertically integrated. We perform a number of
complex operations in house across Micro-Electronics for SMT boards,
Micro-Engineering for precision machining of components and sub-assemblies and
the Polymer Sciences for epoxy and silicone component making.
Leadership:
MediVed Innovations is led by a dynamic team of professionals with deep
industry and business knowledge. Founded and promoted by Dinesh Puri, who has a
strong track record of building successful global businesses out of
MediVed has Engineering, Quality, and Manufacturing Management teams with an average
of 15 years experience in the medical devices and aerospace fields. Our project
engineering groups all have a history of project success spanning diverse
engineering disciplines. Our world class facilities, manufacturing
infrastructure and approved supply chain is certified to ISO 13485 and ISO 9001
Standards of manufacturing quality, consistency and efficiency.
The Manipal Education and Medical Group (MEMG), which runs one of the largest
hospital chains with operations across
Trade Reference:
- The Manipal
Education and Medical Group (MEMG)
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. 46.05 |
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|
1 |
Rs. 75.20 |
|
Euro |
1 |
Rs. 66.48 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
2 |
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OPERATING SCALE |
1~10 |
2 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
2 |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
2 |
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--LEVERAGE |
1~10 |
2 |
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--RESERVES |
1~10 |
- |
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--CREDIT LINES |
1~10 |
1 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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 |
YES |
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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 |
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14 |
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 |
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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.