MIRA
INFORM REPORT
|
Report Date : |
05.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
RICHCORE LIFESCIENCES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 204 and 237, Bommasandra Jigani Link Road, Kiadb Industrial Area,
Jigani Hobli, Anekal Taluk, Bangalore – 562106, Karnataka |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
14.07.2005 |
|
|
|
|
Com. Reg. No.: |
08-036770 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.0.783 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U02423KA2005PTC036770 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturers
of enzyme based products for a range of industrial applications |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 320000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. There appears
some 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
Plot No. 204 and 237, Bommasandra Jigani Link Road, Kiadb Industrial
Area, Jigani Hobli, Anekal Taluk, Bangalore – 562106, Karnataka, India |
|
Tel. No.: |
91-8110-419777 |
|
Fax No.: |
91-8110-416834 |
|
E-Mail : |
submani.rich@richcoreindia.com
|
|
Website : |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Subramani Ramachndra |
|
Designation : |
Whole Time Director |
|
Address : |
No. 335, 12th B Crodd, 1st Main Vidyanagar, Pai
Layout, K. R. Puram, Bangalore – 560016, Karnataka, India |
|
Date of Birth/Age : |
04.10.1975 |
|
Date of Appointment : |
14.07.2005 |
|
DIN No.: |
00309661 |
|
Name : |
Mr. Kavil Ramachandran |
|
Designation : |
Director |
|
Address : |
Village and Post Office, Khagaria, Mansi – 851214, |
|
Date of Birth/Age : |
08.12.1955 |
|
Date of Appointment : |
14.07.2005 |
|
DIN No.: |
00853667 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U72200AP1976SGC002067 |
APITCO LIMITED |
Director |
18/09/2003 |
16/04/2003 |
- |
Active |
NO |
|
2 |
U02423KA2005PTC036770 |
RICHCORE
LIFESCIENCES PRIVATE LIMITED |
Director |
14/07/2005 |
14/07/2005 |
- |
Active |
NO |
|
3 |
U24233PY1994PTC000984 |
CHOLAYIL PRIVATE
LIMITED |
Director |
29/09/2005 |
29/09/2005 |
27/07/2007 |
Active |
NO |
|
4 |
L24239AP1986PLC015190 |
AUROBINDO PHARMA
LIMITED |
Director |
18/09/2006 |
18/09/2006 |
3/5/2011 |
Active |
NO |
|
5 |
L24110AP1990PLC011977 |
VIMTA LABS
LIMITED |
Director |
9/8/2007 |
28/06/2007 |
24/09/2011 |
Active |
NO |
|
6 |
U63030AP2010PTC069087 |
MY INDIEYE
TRAVEL COMPANIONS PRIVATE LIMITED |
Director |
23/06/2010 |
23/06/2010 |
- |
Active |
NO |
|
Name : |
Mr. Rajiv Nandan Sharma |
|
Designation : |
Director |
|
Address : |
No. 302, Padmaja Mansion II, Plot 18, |
|
Date of Birth/Age : |
18.11.1945 |
|
Date of Appointment : |
14.07.2005 |
|
DIN No.: |
02126047 |
|
Name : |
Mr. Dhinakar Sathyanathan Kompala
|
|
Designation : |
Director |
|
Address : |
7-1-77/C, |
|
Date of Birth/Age : |
20.11.1958 |
|
Date of Appointment : |
05.08.2008 |
|
DIN No.: |
02678523 |
|
Name : |
Mr. Ramesh Alur |
|
Designation : |
Director |
|
Address : |
685 East Heart Strong |
|
Date of Birth/Age : |
21.05.1957 |
|
Date of Appointment : |
18.06.2008 |
|
DIN No.: |
00026462 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U24110MH1984PTC033417 |
SUYOG CHEMICALS
PRIVATE LIMITED |
Nominee director |
27/06/1995 |
27/06/1995 |
4/2/2009 |
Active |
NO |
|
2 |
U63033KA2001PTC028910 |
TRIAD FUEL
ENGINEERING PRIVATE LIMITED |
Nominee director |
2/5/2002 |
2/5/2002 |
- |
Active |
NO |
|
3 |
U29211TN1973PLC006495 |
VIBROMECH
ENGINEERS AND SERVICES LIMITED |
Nominee director |
17/07/2004 |
17/07/2004 |
- |
Active |
NO |
|
4 |
U85110TN1994PTC027416 |
DYNAM VENTURE
EAST PRIVATE LIMITED |
Director |
6/11/2004 |
6/11/2004 |
- |
Active |
NO |
|
5 |
U72200AP1994PTC017063 |
BIOSERVE
BIOTECHNOLOGIES ( |
Nominee director |
12/5/2005 |
12/5/2005 |
- |
Active |
NO |
|
6 |
L31909AP1999PLC032184 |
MOSCHIP
SEMICONDUCTOR TECHNOLOGY LIMITED |
Director |
30/09/2005 |
30/09/2005 |
13/10/2011 |
Active |
NO |
|
7 |
U85110AP2005PTC048536 |
CECILIA
HEALTHCARE SERVICES PRIVATE LIMITED |
Director |
22/12/2005 |
22/12/2005 |
- |
Active |
NO |
|
8 |
U24239AP2005PTC048633 |
MARILLION
PHARMACEUTICALS INDIA PRIVATE LIMITED |
Director |
29/12/2005 |
29/12/2005 |
- |
Active |
NO |
|
9 |
U33119AP2006PTC050710 |
MARDIL MEDICAL
DEVICES PRIVATE LIMITED |
Director |
25/07/2006 |
25/07/2006 |
- |
Active |
NO |
|
10 |
U24297AP2006PTC050815 |
VENTUREAST DRUG
DISCOVERY SERVICES PRIVATE LIMITED |
Director |
4/8/2006 |
4/8/2006 |
- |
Active |
NO |
|
11 |
U23201AP2003PLC040984 |
NATUROL
BIOENERGY LIMITED |
Director |
16/08/2006 |
16/08/2006 |
- |
Active |
NO |
|
12 |
U65993AP1989PTC010399 |
A.P.I.D.C.
VENTURE CAPITAL PRIVATE LIMITED |
Director |
29/09/2007 |
5/6/2007 |
- |
Active |
NO |
|
13 |
U74140TN2001PTC047746 |
VENTUREAST FUND
ADVISORS ( |
Managing
director |
11/6/2007 |
11/6/2007 |
- |
Active |
NO |
|
14 |
U24232AP2008FTC057579 |
ITERO BIOPHARMACEUTICALS
PRIVATE LIMITED |
Director |
13/02/2008 |
13/02/2008 |
- |
Active |
NO |
|
15 |
U72300KA2006PTC040779 |
AD2PRO MEDIA
SOLUTIONS PRIVATE LIMITED |
Nominee director |
29/02/2008 |
29/02/2008 |
29/09/2009 |
Active |
NO |
|
16 |
U72200AP2000PTC034062 |
E YANTRA
INDUSTRIES PRIVATE LIMITED |
Nominee director |
29/09/2008 |
21/05/2008 |
- |
Active |
NO |
|
17 |
U02423KA2005PTC036770 |
RICHCORE
LIFESCIENCES PRIVATE LIMITED |
Nominee director |
18/06/2008 |
18/06/2008 |
- |
Active |
NO |
|
18 |
U73100KA2002PTC031023 |
NEUROSYNAPTIC
COMMUNICATIONS PRIVATE LIMITED |
Nominee director |
14/11/2008 |
14/11/2008 |
13/02/2009 |
Active |
NO |
|
19 |
U72200AP1997PTC028438 |
WORLD INFOTECH
PRIVATE LIMITED |
Director |
8/9/2010 |
28/08/2009 |
- |
Active |
NO |
|
20 |
U72400AP2005PTC045430 |
IMEDX
INFORMATION SERVIES PRIVATE LIMITED |
Director |
8/9/2010 |
14/12/2009 |
- |
Active |
NO |
|
21 |
U72900KA1999PTC025246 |
FORE
TRANSCRIPTIONS PRIVATE LIMITED |
Director |
1/10/2011 |
31/08/2010 |
- |
Active |
NO |
|
22 |
U24230TN2005PTC076643 |
EVOLVA BIOTECH
PRIVATE LIMITED |
Alternate
director |
6/12/2010 |
6/12/2010 |
- |
Active |
NO |
|
Name : |
Mr. Siddhartha Das |
|
Designation : |
Nominee Director |
|
Address : |
Villa 14, Prestige, |
|
Date of Birth/Age : |
05.11.1957 |
|
Date of Appointment : |
17.09.2009 |
|
Din No.: |
01666408 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U74140TN2001PTC047746 |
VENTUREAST FUND
ADVISORS ( |
Director |
11/6/2007 |
11/6/2007 |
- |
Active |
NO |
|
2 |
U72300KA2006PTC040779 |
AD2PRO MEDIA
SOLUTIONS PRIVATE LIMITED |
Nominee director |
29/09/2009 |
29/02/2008 |
- |
Active |
NO |
|
3 |
U72200KA2006PTC038859 |
ATYATI
TECHNOLOGIES PRIVATE LIMITED |
Director |
25/09/2009 |
5/11/2008 |
- |
Active |
NO |
|
4 |
U85110KA1993PTC015018 |
Si2 MICROSYSTEMS
Private LIMITED |
Nominee director |
18/09/2009 |
23/02/2009 |
- |
Active |
NO |
|
5 |
U02423KA2005PTC036770 |
RICHCORE
LIFESCIENCES PRIVATE LIMITED |
Nominee director |
17/09/2009 |
17/09/2009 |
- |
Active |
NO |
|
6 |
U72200WB2007PTC112824 |
ORION EDUTECH
PRIVATE LIMITED |
Nominee director |
27/08/2010 |
27/08/2010 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders (Equity
Shares) |
|
No. of Shares |
|
Subramani Ramachndra |
|
25000 |
|
Rajiv Nandan Sharma |
|
8333 |
|
Kavil Ramachandran |
|
4167 |
|
Dhinakar S. Kompala |
|
12500 |
|
Ventureast Proactive Fund LLC, |
|
100 |
|
Ventureast Sedco Procative Fund LLC, |
|
100 |
|
Ventureast Trustee Company Private Limited, (A Trustee of Ventureast Life Fund) |
|
50 |
|
Ventureast Trustee Company Private Limited, (A Trustee of Ventureast Proactive Fund) |
|
10 |
|
|
|
|
|
Total |
|
50260 |
|
Names of
Shareholders (Preference Shares) |
|
No.
of Shares |
|
Ventureast Proactive Fund LLC, |
|
20189 |
|
Ventureast Sedco Procative Fund LLC, |
|
2412 |
|
Ventureast Trustee Company Private Limited, (A Trustee of Ventureast Proactive Fund) |
|
523 |
|
Ventureast Trustee Company Private Limited, (A Trustee of Ventureast Life Fund) |
|
4950 |
|
|
|
|
|
Total |
|
28074 |
AS ON 30.09.2010
|
Equity Shares
Break Up |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
24.87 |
|
Directors or relatives of Directors |
74.61 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of enzyme based products for a range of industrial applications |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
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|
Facilities : |
|
|
|
|
|
Banking
Relations : |
---- |
|
|
|
|
Auditors : |
|
|
Name : |
Ravichandr S. Chartered Accountant |
|
Address : |
No. 3787, 1st Floor, 13th Main 8th
Cross, Hal II Satage, Indiranagar, Banagalore - 560008, |
|
Email : |
|
|
Pan No.: |
AAPPM4217L |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
85000 |
Equity Shares |
Rs.10/- each |
Rs.0.850 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50260 |
Equity Shares |
Rs.10/- each |
Rs.503
Million |
|
28074 |
CCCPPS |
Rs.10/- each
|
Rs.0.280
Million |
|
|
|
|
|
|
|
Total |
|
Rs.0.783 millions |
Note : Of the above share 40000 shares are
allotted as fully paid up pursuant to a contract without payments being
received in cash.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.783 |
0.666 |
0.500 |
|
|
2] Share Application Money |
0.900 |
0.900 |
0.900 |
|
|
3] Reserves & Surplus |
81.785 |
48.033 |
0.009 |
|
|
4] (Accumulated Losses) |
(3.954) |
0.000 |
0.000 |
|
|
NETWORTH |
79.514 |
49.599 |
1.409 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.137 |
1.091 |
2.699 |
|
|
2] Unsecured Loans |
15.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
15.137 |
1.091 |
2.699 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.127 |
0.034 |
|
|
|
|
|
|
|
|
TOTAL |
94.651 |
50.817 |
4.142 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
52.616 |
7.699 |
1.882 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.140 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
13.909
|
7.791 |
2.328 |
|
|
Sundry Debtors |
20.880
|
14.010 |
1.176 |
|
|
Cash & Bank Balances |
7.687
|
25.032 |
0.026 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
4.778
|
4.131 |
0.741 |
|
Total
Current Assets |
47.254
|
50.964 |
4.271 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
10.946
|
6.863 |
1.787 |
|
|
Other Current Liabilities |
2.095
|
2.615 |
0.170 |
|
|
Provisions |
0.000
|
0.000 |
0.142 |
|
Total
Current Liabilities |
13.041
|
9.478 |
2.099 |
|
|
Net Current Assets |
34.213
|
41.486 |
2.172 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
7.681 |
1.632 |
0.088 |
|
|
|
|
|
|
|
|
TOTAL |
94.651 |
50.817 |
4.142 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
|
|
|
|
|
|
|
SALES AND OTHER INCOME (A) |
39.327 |
33.325 |
12.335 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
39.599 |
31.081 |
11.382 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
39.599 |
31.081 |
11.382 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS)BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) |
(0.272) |
2.244 |
0.953 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.291 |
0.224 |
0.410 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(0.563) |
2.020 |
0.543 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4.227 |
1.078 |
0.487 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(4.790) |
0.942 |
0.056 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.267 |
0.478 |
0.086 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(4.523) |
0.464 |
(0.030) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1.651 |
Nil |
Nil |
|
|
TOTAL EARNINGS |
1.651 |
Nil
|
Nil
|
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
NA |
11.16 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
(11.50)
|
1.39 |
(0.24) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(45.28)
|
0.79 |
(0.48) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.05)
|
0.01 |
(0.03) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.35
|
0.21 |
3.40 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.65
|
5.37 |
3.03 |
LOCAL AGENCY FURTHER INFORMATION
NOTE :
The Registered office address of the company has been shifted from No.
335 1st Main 12 B Cross Pai Layout, K.R. Puram,
ANALYSIS OF
PERFORMANCE OF THE YEAR :
The company has achieved 17.85% growth in gross sales in the year
2009-10. the company has cash loss of Rs. 0.562 millions and net loss of Rs.
4.788 millions during the year 2009-10. the industry in which the company
operates requires innovation. Up gradation and introduction of new and
technologically superior products. This requires the company to invest on
technology on a regular basis. To overcome technological obsolescence, the
company is continuously investing funds to create and develop technologically
superior products and different varieties of products required for various
industrial and non industrial consumers. To this end the company has spent
substantial amount towards research and development, which has resulted in
filing of 3 patents during the year.
The directors vision is to make this company one of the leading company
in manufacture and supply of bio technology products. The company has initiated
various steps in this direction and the directors are confident of achieving
their dreams in the not so long future. The directors have already appointed
various executives in sales and marketing. The management has even initiated
various steps to control expenditure and has been fairly successful in
implementing various cost control initiatives. The management has also initiated
delegation and decentralization of powers and responsibilities to selected
young and energetic executives. All these have added up the expenditure and
resulted in lower profitability. The directors are confident of achieving
higher growth in the coming year in the fourth of higher sales and increased
profitability.
The directors have been successful in obtaining funding support from
venture capital funds for meeting its operations requirements and for caring
out further research and development activity in new and improved products.
This has given additions impetus to the directors and the directors are pursing
the path of higher growth trajectory. The directors are confident of showing
good results in the next financial year ended 31.03.2010
FORM 8
|
Corporate
identity number of the company |
U02423KA2005PTC036770 |
|
Name of the
company |
RICHCORE
LIFESCIENCES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No. 204 and 237, Bommasandra Jigani Link Road, Kiadb Industrial
Area, Jigani Hobli, Anekal Taluk, Bangalore – 562106, Karnataka, India |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
property Book debts Movable property (not
being pledge) |
|
Particular of
charge holder |
Indian Bank
Overseas Branch, Manadi Plaza, Ground Floor, 2St. Marks Road, Bangalore –
560001, Karnataka, India |
|
Nature of
instrument creating charge |
Memorandum of Deposit
of Title Deed Dated 11.07.2011 |
|
Date of
instrument Creating the charge |
11.07.2011 |
|
Amount secured by
the charge |
Rs. 96.400
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Rate of Interest
for OCC, MTL – I, and MTL – II Is Base Rate +3.50+0.50% Commission as per
HO Guidelines should be paid for letter of Credit Limits Terms of repayment OCC Loan and
Letter of Credit are repayable in one year period and is renewable at the end
of one year. Term loan – I and Term Loan – II are repayable in 20 Quarterly
installments. Moratorium of 6 Months from the date of disbursement of term
loan is available Margin Margin for OCC
limit, Letter of Credit and Term Loan I and II is 25% on the loan Limit Extent and operation of the charge Entire Loan is
covered by the hypothecation over movable assets viz, stocks, inventory, book
debts, existing machinery, new machinery to be acquired out of loan amount.
Further collateral security extends over the entire loan. Collateral security
is by way of deposits of Title deed on the equitable mortgage of company’s
land and building at 204 and 207, bommasandra Other Nil |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation of
Movable assets viz stocks, inventory, book debts, all machinery installed /
kept at the company’s premise at plot No. 204 and 237, Bommasandra Jigani Link
Road, KIADB Industrial Area, Bangalore Equitable
mortgage of the company land and building at 204 and 207 Bommasandra Jigani
Link Road, KIADB Industrial Area Bangalore (Consisting of land area 4040 sq.
met Area and building thereof ) |
|
Date of instrument
modifying the charge |
09.07.2011 |
|
Particulars of
the present modification |
Besides
hypothecation dated 09.07.2011 entire loan of Rs. 96.400 millions is further
secured by equitable mortgage of company land and building at 204 and 207
Bommasandra Jigani Link Road, Kiadb Industrial Area, Bangalore, Collateral of
Equitable mortgage is made on 11.07.2011
|
FIXED ASSETS :
- Land
- Building
- Work in Progress
- Vehicle
- Computers, Air Conditioners
- Furniture and Fittings
- Plant and Machinery
- Office Equipments
- R and D Equipments
AS PER WEBSITE DETAILS :
They are an applications oriented biotech company dedicated to developing novel and clean enzymatic solutions that enable eco-friendly conservation of Food, Water and Energy. They are backed by experience and guided by a conviction in the potential of biotechnology to provide natural solutions for industrial problems making development more sustainable
They develop enzyme based solutions that help their clients improve productivity, enhance process efficiencies and reduce wastage. Their experience in various industries enables us to identify the problems and they research ability enables us to co-create innovative solutions to find a solution
They technologies emerge out of cutting edge research
combining the latest biological techniques and industry best practices. Drawn
from the best research institutes in
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. 51.35 |
|
|
1 |
Rs. 80.50 |
|
Euro |
1 |
Rs. 69.14 |
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 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
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.