%20PRIVATE%20LIMITED%20-%20134903%2009-Mar-2011_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
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Report Date : |
09.03.2011 |
IDENTIFICATION DETAILS
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Name : |
EVOTEC (INDIA) PRIVATE LIMITED (w.e.f. 11.09.2009) |
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Formerly Known
As : |
RESEARCH SUPPORT INTERNATIONAL LIMITED (w.e.f. 17.02.2009) RESEARCH SUPPORT INTERNATIONAL PRIVATE LIMITED |
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Registered
Office : |
Dil Complex, |
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Country : |
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Financials (as
on) : |
31.12.2009 |
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Date of
Incorporation : |
17.03.2004 |
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Com. Reg. No.: |
11-145141 |
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CIN No.: [Company Identification
No.] |
U74130MH2004PTC145141 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNER06135D |
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PAN No.: [Permanent Account No.] |
AACCR7082G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Service Provider of Research Development |
RATING & COMMENTS
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MIRA’s Rating : |
B (31) |
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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 485000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. There appears
a huge dip in the profitability of the company. However, trade relations are
reported as fair. Business is active. Payments are reported to be slow but
correct. The company can be considered for business dealings with slight
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 |
INFORMATION DECLINED BY
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Name : |
Mr. Rupali |
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Designation : |
Accounts Department |
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Date : |
04.03.2011 |
LOCATIONS
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Registered Office : |
Dil Complex, |
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Tel. No.: |
91-22-66230900 |
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Fax No.: |
91-22-66230998 |
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E-Mail : |
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Website : |
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Headquarter : |
Schnackenburgallee 114 22525 |
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Tel. No.: |
91-49-40-56081-0 |
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Fax No.: |
91-49-4056081-222 |
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E-Mail : |
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Branches : |
Located At : |
DIRECTORS
AS ON 30.06.2010
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Name : |
Mr. Mario Ploywka |
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Designation : |
Director |
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Address : |
42, |
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Date of Birth/Age : |
10.02.1963 |
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Date of Appointment : |
31.08.2009 |
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Name : |
Mr. Werner Lanthaler |
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Designation : |
Director |
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Address : |
Neudeggergasse, 5/15, Vinenna |
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Date of Birth/Age : |
02.09.1968 |
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Date of Appointment : |
31.08.2009 |
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Name : |
Mr. Klaus Maleck |
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Designation : |
Director |
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Address : |
Grot Sahl 51, |
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Date of Birth/Age : |
10.06.1972 |
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Date of Appointment : |
31.08.2009 |
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Name : |
Mr. |
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Designation : |
Director |
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Address : |
42, B, Dhananjay, Pressidency CHS, Scheme, Vile Parle, Mumbai –
400049, |
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Date of Birth/Age : |
17.12.1980 |
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Date of Appointment : |
09.05.2005 |
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Name : |
Mr. Kunal Ashok Kashyap |
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Designation : |
Director |
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Address : |
A-5, Victorian Villa 12, |
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Date of Birth/Age : |
15.03.1965 |
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Date of Appointment : |
31.08.2009 |
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Name : |
Mr. Dhanya Santosh |
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Designation : |
Secretary |
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Address : |
F-No. 14, Building No. 10, Laukik CHS, |
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Date of Birth/Age : |
17.08.1982 |
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Date of Appointment : |
01.08.2009 |
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Date of Ceasing : |
23.04.2010 |
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Name : |
Mrs. Uppal Singh Gurnider |
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Designation : |
Manager |
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Address : |
A-104, Shankar Tower, Plot No. 14, sector No. 14, Palm Beach Road,
Navi Mumbai – 400705, Maharashtra, India |
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Date of Birth/Age : |
12.06.1972 |
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Date of Appointment : |
01.03.2008 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.06.2010
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Names of Shareholders |
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No. of Shares |
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DIL Limited, |
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10925995 |
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05* |
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Evotec AG, |
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25494000 |
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Total |
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36420000 |
Note : Shares held u/s 187 of the companies Act, 1959 in favour of DIL
Limited
AS ON 30.06.2010
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
70.00 |
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Bodies corporate |
30.00 |
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Directors or relatives of Directors |
0.00 |
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Other top fifty shareholders |
0.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Service Provider of Research Development |
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GENERAL INFORMATION
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No. of Employees : |
Not Divulged by the management |
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Bankers : |
Union Bank of |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
BSR And Company Chartered Accountant |
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Address : |
KPMG House, Kamala Mills Compound, 448, Senapati, Bapat Marg, Lower
Parel, Mumbai – 400013, Maharashtra, India |
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Holding Company : |
Evotec AG (From 1st September 2009) DIL Limited (Upto 31st August 2009) |
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Ultimate Holding Company : |
DVK Investments Private Limited (Upto 31st August 2009) |
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Subsidiary Company : |
Evotec – RSIL Limited (ERL) |
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Fellow Subsidiary : |
Evotec Renovis Incorporation (Renovis) |
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Associate Company : |
DIL Limited (from 1st September 2009) Fermenta Biotec Limited (FBL) |
CAPITAL STRUCTURE
AS ON 31.12.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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50500000 |
Equity Shares |
Rs.2/- each |
Rs.105.000 Millions |
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500000 |
Redeemable Preference Shares |
Rs.10/- each |
Rs. 5.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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36420000 |
Equity Shares |
Rs.2/- each |
Rs.72.840
Millions |
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10926000 |
Shares held by DIL Limited |
-- |
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NOTE :
Nil (previous year – 250000 redeemable
Cumulative Non Convertible shares of Rs. 10/- each fully paid-up by DIL Limited,
Issued at a premium of Rs. 90/- per share
The shares were redeemable either fully or in
more than one installation at the option of the company of holder at any time
after 12 months from the date of allotment. i.e. March 28, 2007, but before 84 months
holder, from the aforesaid date at a premium of Rs. 100 per Share at the end of
the 12 months or Rs. 110 per Share at the end of 24 months of Rs. 120 per share
at the end 36 months and so on. During the Current period the company has
received the terms of redemption wherein the premium has been restricted to Rs.
90 and the shares have been redeemed on 30 November 2009 at Rs. 100 per share
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
01.04.2009 to
31.12.2009 |
01.04.2008 to
31.03.2009 |
31.03.2008 |
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|
SHAREHOLDERS FUNDS |
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|
|
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1] Share Capital |
72.840 |
75.340 |
70.750 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
48.339 |
66.551 |
31.911 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
121.179 |
141.891 |
102.661 |
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LOAN FUNDS |
|
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|
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|
1] Secured Loans |
88.822 |
33.784 |
14.955 |
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2] Unsecured Loans |
27.911 |
0.000 |
0.000 |
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TOTAL BORROWING |
116.733 |
33.784 |
14.955 |
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DEFERRED TAX LIABILITIES |
0.000 |
2.300 |
0.000 |
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TOTAL |
237.912 |
177.975 |
117.616 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
121.150 |
104.089 |
74.981 |
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Capital work-in-progress |
13.216 |
23.274 |
3.087 |
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INVESTMENT |
52.782 |
42.841 |
38.251 |
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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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|
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Inventories |
3.683
|
1.615 |
1.958 |
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Sundry Debtors |
21.592
|
19.818 |
31.213 |
|
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Cash & Bank Balances |
27.846
|
13.960 |
7.910 |
|
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Other Current Assets |
5.838
|
1.529 |
0.492 |
|
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Loans & Advances |
25.188
|
13.118 |
7.683 |
|
Total
Current Assets |
84.147
|
50.040 |
49.256 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
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Sundry Creditors |
25.381 |
33.894 |
37.926 |
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Other Current Liabilities |
4.287
|
5.416 |
5.150 |
|
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Provisions |
4.049
|
5.021 |
5.345 |
|
Total
Current Liabilities |
33.717
|
44.331 |
48.423 |
|
|
Net Current Assets |
50.430
|
5.709 |
0.833 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
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|
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|
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Advance for Capital Expenditure |
0.334 |
2.062 |
0.464 |
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|
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TOTAL |
237.912 |
177.975 |
117.616 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
01.04.2009 to
31.12.2009 |
01.04.2008 to
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
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Income |
136.544 |
192.481 |
145.385 |
|
|
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Other Income |
|
|
0.236 |
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|
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TOTAL (A) |
136.544 |
192.481 |
145.621 |
|
|
|
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|
|
|
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Less |
|
|
|
|
|
|
|
|
Increase / decrease in work – in process |
|
|
(1.301) |
|
|
|
Material consumed |
116.700 |
154.283 |
21.097 |
|
|
|
Personnel expenses |
|
|
41.161 |
|
|
|
Operating and other expenses |
|
|
60.074 |
|
|
|
TOTAL (B) |
116.700 |
154.283 |
121.031 |
|
|
|
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|
|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
19.844 |
38.198 |
24.590 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.302 |
4.246 |
0.618 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
15.542 |
33.952 |
23.972 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
13.457 |
(8.103) |
15.041 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2.085 |
42.055 |
8.931 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
(2.203) |
7.415 |
1.314 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
4.288 |
34.640 |
7.617 |
|
|
|
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
44.051 |
9.411 |
1.794 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
45.839 |
44.051 |
9.411 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Contract Research and Custom Synthesis |
107.904 |
167.433 |
134.887 |
|
|
|
Sales Exports |
15.156 |
14.014 |
0.000 |
|
|
TOTAL EARNINGS |
123.060 |
181.447 |
134.887 |
|
|
|
|
|
|
|
|
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IMPORTS |
|
|
|
|
|
|
|
Laboratory Chemicals |
2.499 |
4.179 |
1.871 |
|
|
|
Stores and Spares |
0.154 |
0.772 |
0.352 |
|
|
|
Capital Goods |
9.557 |
23.610 |
21.397 |
|
|
TOTAL IMPORTS |
12.210 |
28.561 |
23.620 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.09 |
0.73 |
0.16 |
|
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%20PRIVATE%20LIMITED%20-%20134903%2009-Mar-2011_files/image004.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20134903%2009-Mar-2011_files/image005.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20134903%2009-Mar-2011_files/image006.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
01.04.2009 to
31.12.2009 |
01.04.2008 to
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
3.14
|
7.03 |
5.23 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.52
|
21.84 |
6.14 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.01
|
27.28 |
7.18 |
|
|
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|
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.01
|
0.29 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.24
|
0.55 |
0.61 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.49
|
1.12 |
1.01 |
LOCAL AGENCY FURTHER INFORMATION
Sundry Creditors
Details :
(Rs.
In Millions)
|
Particulars |
31.12.2009 |
31.03.2009 |
31.03.2008 |
|
|
|
|
|
|
Sundry Creditors |
25.381 |
33.894 |
37.926 |
|
|
|
|
|
Form : 8
|
This form is for |
Modification of
charge |
|
Corporate
identity number of the company |
U74130MH2004PLC145141 |
|
Name of the
company |
RESEARCH SUPPORT
INTERNATIONAL LIMITED |
|
Address of the
registered office or of the principal place of business in |
Dil Complex, |
|
Type of charge |
Book Debts Movable Property |
|
Particular of
charge holder |
Union Bank Of |
|
Nature of
description of the instrument creating or modifying the charge |
One Hypothecation
Deed creating first charge on the Book Debts of the Company and the moveable
property lying in the Company's Factory premises, warehouses and godowns for
a term loan of Rs. 25.000 millions |
|
Date of
instrument Creating the charge |
11/11/2008 |
|
Amount secured by
the charge |
Rs. 25.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
: Term Loan-
LIBOR+4.5% Terms of
repayment : Term Loan
repayable in 25 equal installments of Rs. 1.000 millions each after 9 months
moratorium after the last disbursal in the Term Loan account. Margin: Term Loan: 30% Extent and
Operation of the charge : Term Loan is for
25 months. The charge covers
all the above mentioned property of the Company and is applicable to all the present
and future borrowings of the Company. Others : Nil |
|
Short particulars
of the property charged |
Book Debts of the
Company and the Moveable property lying in the factory premises, warehouses
and godowns in DIL complex, Ghodbunder Road, Majiwada, Thane (West) 400610. |
|
Particulars of
the present modification |
The charge
created on the property mentioned as above amounting to Rs. 25.000 millions
is further extended by Rs. 25.000 millions making it to Rs. 50.000 millions
in aggregate. |
Fixed Assets :
- Leasehold Improvements
- Plant And Machinery
- Furniture And Fixtures
- Electrical Fittings
- Vehicles
PERFORMAMGE AND OUTLOOK :
During the Current
Period of nine months, the company recorded a total turnover of RS. 136.544 millions
as against Rs. 192.481 millions in the previous year. The profit after tax in
the current period was Rs. 4.288
Millions (previous year Rs. 34.640 millions). These performances are not
comparable with previous year.
In line with
growth of the business, the Company commissioned an independent ADMET facility
to provide improved solutions in its Drug Discovery and Development Services.
Now the company has independent facilities for Scale up, Library projects and
ADMET. In addition, the Company initiated expansion plans of its synthetic
laboratory capacities. Analytical infrastructure has been improved remarkably
in last one year. This has certainly increased their offerings for analytical
services. Further, turnaround time for analytical projects has also been
educed.
Their excellent
set-up for Business Development operations across globe has resulted into
association with leading pharmaceutical / biotech organizations. They have also started
focusing on potential business for discovery services in
Their ability to
offer a right combination of high quality. cost-effective and comprehensive
service offerings has resulted in strong working relationship with our clients,
even in the current economic environment. They shall continue to implement our
long-term strategy in order to develop and establish as a preferred service
provider for our clients in the drug discovery value chain.
CHANGE IN NAME
Subsequent to
substantial acquisition of shares by Evotec AG in the Company i.e., 70 % of the
total number of shares, Evotec AG became Company's holding Company, It was
agreed by the Board members to change the name of the Company from the
existing. 'Research Support international Private Limited' to 'Evotec (lndia)
Private Limited' as the Company became port of the "EVOTEC Group".
All necessary paper work was carried to give effect to the change of name in
the Office of the Registrar of Companies, Ministry of Company Affairs,
Maharashtra Mumbai and the Articles of Association of the Company were duly
restated.
MERGER
Subject are both
separate legal entities and incur separate administrative, operational arid
other statutory expenses. Evotec-RSIL Limited being in its initial stage of
establishment was incurring continuous losses since its inception. In order to
economize such losses and to meet the high burden of operational and
administrative costs, it was proposed to merge it with the Company. During the
year, the process of merger of Evotec-RSIL Limited Company's wholly owned
subsidiary with the Company was initiated after obtaining the approval of the
shareholders to the draft scheme of merger with effect train January 1st 2010. Solicitors
namely, Crawford Bailey and, Company. were
appointed to take this matter ahead. Petitions for the Merger were filed with
the Hon'ble High Court of Bombay. The Court admitted the petitions and passed
an order doted April 9. 2010 where under certain directions were issued
to the Company. All the actions required to be taken as per the directions
issued by the Court were completed as per the Court Order issued.
The Hon’ble high
Court of
As per Website Details :
2011
- Evotec acquires Kinaxo,expanding
its drug discovery platform with cutting-edge technologies
2010
- Evotec has entered via its subsidiary
Develogen AG into a license and collaboration agreement with
MedImmune in the diabetes therapeutic area with a particular focus on the
regeneration of insulin producing beta cells
- Evotec licenses Phase II insomnia
candidate to Jingxin Pharma for development in
- Evotec is adding a core capability in
metabolic disease biology by acquiring DeveloGen
- Start of Phase II with EVT 101
(Treatment-Resistant Depression)
- Integrated Drug Discovery
- Successful completion of first-in-man
study with EVT 103
- Extension of CHDI collaboration
(Huntington's Disease)
2009
- TecDAX re-entry / Evotec voluntarily
delist from NASDAQ
- Evotec and Boehringer Ingelheim
extend and broaden research collaboration
- Start Phase I with EVT 103
(Treatment-Resistant Depression)
- Evotec Accelerates Growth Strategy of
its Discovery
- Successful Completion of first Phase
I Study with EVT 401 (P2X7)
- Evotec Acquires Zebrafish Screening
Operations of Summit Corporation
- Evotec and Roche to develop EVT 101
for Treatment-Resistant Depression
- Evotec 2012 Action Plan to Focus and
Growth
- Unsuccessful partnering of EVT 201
and failed Phase II of EVT 302 in smoking cessation results in the
decision to only pursue proprietary assets if funded
2008
- Evotec Completes
Acquisition of Renovis, Nasdaq-Listing
- Start Phase I with
P2X7 Antagonist (Rheumatoid arthritis)
- Evotec Participates
in the
- Three-Year Drug
Discovery Collaboration with Novartis
- 3 additional
milestone payments from Boehringer Ingelheim
- Fragment based drug
discovery agreement with Ono
2007
- Evotec and Research Support International
Limited form Evotec-RSIL Ltd, a Joint Venture in
- Foundation of European ScreeningPort
GmbH with the support of Evotec
- Evotec Sells its Chemical Development
Business to Aptuit
- New multiyear collaboration with
Boehringer Ingelheim with focus on Alzheimer`s disease
2006
- In-licenses from Roche two Phase I
MAO-B inhibitors
- Raises EUR 18.5 million in a capital
increase
- Completes clinical Phase I for EVT
101
- Evotec AG sells Evotec Technologies
to PerkinElmer
- Further expansion and extension of
Boehringer Ingelheim drug discovery collaboration
- Second milestone payment from
Boehringer Ingelheim
- Extension of global medicinal
chemistry agreement and medicinal chemistry collaboration in oncology with
Roche
- Forming a global alliance with Roche
to jointly discover and develop compounds in the area of CNS
2005
- In-licensing from Roche Phase I EVT
201 (Insomnia)
- Capital increase, EUR 28.4
million
- Start Phase I with EVT 101
- First milestone payment from
Boehringer Ingelheim
- Extension of Boehringer Ingelheim
collaboration
- Extension of medicinal chemistry
agreement with Roche
2004
- Evotec Neurosciences in-licenses from
Roche drug candidates for the treatment of various CNS disorders
- Three-year collaboration with
Boehringer Ingelheim with an initial focus on CNS-diseases
- Strategic global medicinal chemistry
agreement with Roche
2003
- Expansion of Roche collaboration into
the area of lead optimisation in oncology
- Evotec Neurosciences and Takeda enter
into a four-year collaboration to identify novel Alzheimer's disease
targets
2002
- Spinning off its technology
development business into its subsidiary Evotec Technologies
- Extension of Discovery Chemistry
Agreement with Roche
2001
- Initial cooperation with Roche with
focus on chemical compound libraries
2000
- Merge with Oxford Asymmetry
International plc, form Evotec OAI AG, to become the leader in the
discovery and development of novel small molecule drugs
- Successful market introduction of
EVOscreen®
1999
- Establishes Evotec Neurosciences GmbH
in
- In November Evotec BioSystems AG goes
public
1998
- Raising DM 46 million (EUR 23.5
million), the largest private placements seen in the European biotech
sector
1996
- Collaborations with Novartis and
SmithKlineBeecham to develop EVOscreen® (High-Throughput
Screening System)
1993
- Evotec BioSystems GmbH was
founded in
Press
Release :
Evotec to Strengthen
its Compound Collection through a Collaboration with ChemBridge
Hamburg, Germany - 15 February 2011:
Evotec AG (Frankfurt Stock Exchange: EVT, TecDAX) today announced that it has
entered into a collaboration with ChemBridge, to further enhance its screening
library. This collaboration demonstrates Evotec's continued improvement to its
industry leading hit identification platform.
Evotec's library of 250,000 drug-like and lead-like compounds is available to
clients for screening and differentiated itself from other screening libraries
through quality, diversity and novelty.Through this collaboration, Evotec will
increase its high throughput screening collection through the addition of
initially 110,000 diverse and lead-like compounds from the ChemBridge Library
Collection. These new compounds complement the chemical diversity of Evotec's
existing collection and will further enhance the quality of the hits provided
to our partners.
Dr Mario Polywka, Chief Operating
Officer at Evotec stated: "We are happy to partner with ChemBridge on the expansion of Evotec's
high throughput screening collection. This collaboration coupled with our
continued investment in our world leading, hit-identification platform will
allow Evotec to maintain our market leadership and continue to provide high
quality hit compounds to our clients."
Mr. Eugene Vaisberg, Chief Executive
Officer at Chembridge, commented: "We are pleased to have this opportunity to
work with Evotec. This alliance will allow ChemBridge to expand the reach of
its renowned small molecule screening library via Evotec's industry leading
hit- identification platform."
No financial
details are disclosed. Contact:
Dr Werner
Lanthaler, Chief Executive Officer,Evotec AG, Tel.: +49.(0)40.56081-242,
Forward-Looking Statements –
Information set forth in this press release contains forward-looking
statements, which involve a number of risks and uncertainties. Such forward-looking
statements include, but are not limited to, statements about our expected 2010
financial results and financial growth in 2011, their anticipated financing
needs, their ability to deliver on their liquidity guidance, their belief that
they are on course to sustainable profitability latest in 2012, their
expectations and assumptions concerning regulatory, clinical and business
strategies, the progress of their clinical development programmes and timing of
the commencement and results of their clinical trials, strategic collaborations
and management's plans, objectives and strategies. These statements are neither
promises nor guarantees, but are subject to a variety of risks and
uncertainties, many of which are beyond their control, and which could cause
actual results to differ materially from those contemplated in these
forward-looking statements. In particular, the risks and uncertainties include,
among other things: risks that product candidates may fail in the clinic or may
not be successfully marketed or manufactured; the risk that they will not
achieve the anticipated benefits of their collaborations, partnerships and
acquisitions in the timeframes expected, or at all; risks relating to our
ability to advance the development of product candidates currently in the
pipeline or in clinical trials; their
inability to further identify, develop and achieve commercial success
for new products and technologies; the risk that competing products may be more
successful; their inability to interest potential partners in their
technologies and products; their inability to achieve commercial success for
their products and technologies; their inability to protect our intellectual
property and the cost of enforcing or defending their intellectual property rights;
their failure to comply with regulations relating to their products and product
candidates, including FDA requirements; the risk that the FDA may interpret the
results of their studies differently than they have; the risk that clinical
trials may not result in marketable products; the risk that they may be unable
to successfully secure regulatory approval of and market their drug candidates;
and risks of new, changing and competitive technologies and regulations in the
U.S. and internationally. The list of risks above is not exhaustive. Their most
recent Annual Report on Form 20-F, filed with the Securities and Exchange
Commission, and other documents filed with, or furnished to the Securities and
Exchange Commission, contain additional factors that could impact their
businesses and financial performance. They expressly disclaim any obligation or
undertaking to release publicly any updates or revisions to any such statements
to reflect any change in their expectations or any change in events, conditions
or circumstances on which any such statement is based.
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. 45.03 |
|
|
1 |
Rs. 72.97 |
|
Euro |
1 |
Rs. 62.94 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
31 |
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.