MIRA INFORM REPORT

 

 

Report Date :

22.03.2011

 

Note:

The company has changed the Registered office from 401/402 Cyber Heights, 4th Floor, Plot No. 13, Road No. 2, Banjara Hills, Hyderabad – 500033, Andhra Pradesh, India to 8-2-277/A, Plot No 130, 4A, 4th Floor, Inwinex Tower, Road No. 2, Banajra Hills, Hyderabad – 500034, Andhra Pradesh, India w.e.f 31.07.2009

 

IDENTIFICATION DETAILS

 

Name :

KREBS BIOCHEMICALS AND INDUSTRIES LIMITED (w.e.f 21.11.2003)

 

 

Formerly Known As :

KREBS BIOCHEMICALS LIMITED

 

 

Registered Office :

8-2-277/A, Plot No. 130, 4A, 4th Floor, Inwinex Towers, Road No. 2, Banjara Hills, Hyderabad – 500034, Andhra Pradesh

 

 

Country :

India

 

 

Financials (as on) :

31.03.2010

 

 

Date of Incorporation :

02.12.1991

 

 

Com. Reg. No.:

01-013511

 

 

CIN No.:

[Company Identification No.]

L24110AP1991PLC013511

 

 

Legal Form :

A Public Limited Liability company. The company’s Share are Listed on the Stock Exchange

 

 

Line of Business :

Manufacturer, Importer and Exporter of Bulk Actives, Intermediates etc

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (29)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 4900000

 

 

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 – April 1, 2010

 

Country Name

Previous Rating

(31.12.2009)

Current Rating

(01.04.2010)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

INFORMATION PARTED BY

 

Name :

Mr. Kumar

Designation :

Account Manager

Contact No.:

91-40-44707750/44707777

Date :

21.03.2011

 

 

LOCATIONS

 

Registered Office :

8-2-277/A, Plot No. 130, 4A, 4th Floor, Inwinex Towers, Road No. 2, Banjara Hills, Hyderabad – 500034, Andhra Pradesh, India

Tel. No.:

91-40-44707777/44707766

Fax No.:

91-40-44707755

E-Mail :

kumar@krebsbiochem.com

marketing@krebsbiochem.com

krebsho@krebsbiochem.com

com_sec@krebsbiochem.com

Website :

www.krebsbiochem.com

Area :

1500 sq.ft

Location :

Rented

 

 

Factory 1 :

Pharma Division

Regadichelika Village, Kodavalur Mandal,   Nellore Dist – 524316, Andhra Pradesh. India

 

 

Factory 2 :

Kothapalli Village, Kasimkota Mandal, Visakhapatnam District – 531031, Andhra Pradesh, India

 

 

DIRECTORS

 

As On 31.03.2010

 

Name :

Dr. Tej Kuchroo

Designation :

Director

Address :

Stable Evershine Builders, 2, A/103, Kasturina Link Road, E.Green, Opposite KIA Park, Wing A, Andheri W, Mumbai – 400053, Maharashtra, India

Date of Birth/Age :

08.06.1949

Date of Appointment :

01.06.1998

DIN No.:

00243036

 

 

Name :

Mr. Gundapaneni Venkata Lakshmiprasad

Designation :

Director

Address :

1001, Royal Pevillion, H.No.6-3-787, Ameerpret, Hyderabad – 500016, Andhra Pradesh, India

Date of Birth/Age :

13.09.1958

Date of Appointment :

26.09.2000

DIN No.:

00017081

 

 

Name :

Dr. Ravi Tagore Ravindranath

Designation :

Chairman cum Managing Director

Address :

8-2-269-S/40, Road No.2, Banjara Hills, Hyderabad – 500033, Andhra Pradesh, India

Date of Birth/Age :

08.08.1949

Date of Appointment :

12.10.1992

DIN No.:

00272977

 

 

Name :

Mr. Avinash Ravi

Designation :

Director and COO

Address :

8-2-269-S/40, Road No.2, Banjara Hills, Hyderabad – 500033, Andhra Pradesh, India

Date of Birth/Age :

15.02.1978

Date of Appointment :

01.02.2009

DIN No.:

01616152

 

 

Name :

Mr. K. Satyanarayan

Designation :

Director

 

 

Name :

Mr. Subramanyan Ganesh

Designation :

IDBI Nominee Director

Address :

402, Diamond View Apartments, East Mared Pally, Secunderabad – 500026, Andhra Pradesh, India

Date of Birth/Age :

15.08.1964

Date of Appointment :

07.05.2008

DIN No.:

02228477

 

 

Name :

Mrs. Sangeetha Sharma

Designation :

Exim Bank Nominee Director

Address :

1403, Wallance Apartments, Sleaster Road, Grant Road (W), Mumbai – 400004, Maharashtra, India

Date of Birth/Age :

30.04.1959

Date of Appointment :

22.06.2005

DIN No.:

01183055

 

 

Name :

Mr. Manikonda Venkateswara Rao

Designation :

APIDC Nominee Director

Address :

B-15, Railway Quarters, Sitaphalmandi, Secunderabad, Andhra Pradesh, India

Date of Birth/Age :

01.08.1954

Date of Appointment :

02.01.2007

DIN No.:

00035838

 

 

Name :

Dr. Naresh Kumar

Designation :

Director

Address :

House No. 81, Aspen Greens, Nirvana Country, Near South City, Gurgoan – 122018, India

Date of Birth/Age :

13.09.1958

Date of Appointment :

22.02.2007

DIN No.:

01109265

 

 

Name :

Mr. Amudalapalli Venkata Ravi Kumar

Designation :

Director

Address :

11-14-7/1, Road No. 8, Haripuri Colony, Hyderabad – 500035, Andhra Pradesh, India

Date of Birth/Age :

01.05.1952

Date of Appointment :

28.01.2010

Date of Cessation :

24.05.2010

DIN No.:

01167082

 

 

Name :

Mr. Kotamraju Prasad Siva Sankar

Designation :

Director

Address :

Door No. 12-5-49, Sikharamvari Street, Bapatla – 522101, Andhra Pradesh, India

Date of Birth/Age :

18.01.1963

Date of Appointment :

30.09.2004

Date of Cessation :

24.05.2010

DIN No.:

00325326

 

 

Name :

Mr. China Satyanarayana Anjaiah Ravi

Designation :

Director

Address :

Flat No. 011, sanali Heavens, Nagarjuna Nagar Colony, Ameerpret, Hyderabad – 500073, Andhra Pradesh, India

Date of Birth/Age :

05.04.1951

Date of Appointment :

15.09.2010

DIN No.:

00326854

 

 

KEY EXECUTIVES

 

Name :

Mr. Kumar

Designation :

Account Manager

 

 

Name :

Mr. Naga Vasudha Tadepalli

Designation :

Company Secretary

Address :

H.No. 1-3-919, Kavadiguda, Hyderabad – 500080, Andhra Pradesh, India

Date of Birth/Age :

06.05.1983

Date of Appointment :

21.07.2010

Pan No.:

ASLPA2928E

 

 

Name :

Mr. Prathap Kumar S

Designation :

Company Secretary

Address :

Mythri Nagar, Kukatpally, Hyderabad, Andhra Pradesh, India

Date of Birth/Age :

06.06.1974

Date of Appointment :

01.11.2008

Date of Cessation :

24.05.2010

Pan No.:

AVKPS0933P

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As On 31.12.2010

 

Names of Shareholders

 

No. of Shares

(A) Shareholding of Promoter and Promoter Group

 

 

(1) Indian

 

 

Individuals / Hindu Undivided Family

4,341,654

47.97

Sub Total

4,341,654

47.97

(2) Foreign

 

 

Total shareholding of Promoter and Promoter Group (A)

4,341,654

47.97

(B) Public Shareholding

 

 

(1) Institutions

 

 

Financial Institutions / Banks

199,073

2.20

Foreign Institutional Investors

1,200

0.01

Any Others (Specify)

522

0.01

Any Other

522

0.01

Sub Total

200,795

2.22

(2) Non-Institutions

 

 

Bodies Corporate

1,737,204

19.20

Individuals

 

 

Individual shareholders holding nominal share capital up to Rs. 0.100 million

1,994,491

22.04

Individual shareholders holding nominal share capital in excess of Rs. 0.100 million

610,974

6.75

Any Others (Specify)

164,882

1.82

Directors & their Relatives & Friends

150,000

1.66

Clearing Members

977

0.01

Any Other

13,905

0.15

Sub Total

4,507,551

49.81

Total Public shareholding (B)

4,708,346

52.03

Total (A)+(B)

9,050,000

100.00

I Shares held by Custodians and against which Depository Receipts have been issued

-

-

(1) Promoter and Promoter Group

-

-

(2) Public

-

-

Sub Total

-

-

Total (A)+(B)+(C)

9,050,000

-

 

As On 16.08.2010

 

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

0.20

Bodies corporate

19.54

Directors or relatives of Directors

47.97

Other top fifty shareholders

30.08

Others

0.01

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer, Importer and Exporter of Bulk Actives, Intermediates etc

 

 

Products :

Item Code No.

Product Description

2942009

Lovastatin

29420090

Simvastatin

29394200

Pseudo ephedrine

Exports :

 

Countries :
  • Worldwide

 

 

Imports :

 

Products :
  • Spares

Countries :
  • Brazil

 

 

Terms :

 

Selling :

Cash, Credit

 

 

Purchasing :

Cash, Credit

 

PRODUCTION STATUS (AS ON 31.03.2010)

 

Particulars

Unit

Licensed Capacity

Installed Capacity

Actual Production

Pseudoephedrine HCL

Metric Tonnes

60.000

60.000

--

Lovastatin

Metric Tonnes

60.000

60.000

47.139

Simvastatin

Metric Tonnes

30.000

30.000

19.327

Vitamin – C

Metric Tonnes

1200.00

1200.00

---

 

 

GENERAL INFORMATION

 

Customers :
  • Wholesalers and Retailers

 

 

No. of Employees :

560 (approximately)

 

 

Bankers :
  • Andhra Bank
  • Jammu and Kashmir Bank Limited
  • United Bank of India
  • Export-Import Bank of India – Centre One Building, Floor 21, World Trade Centre, Cuffe Parade, Mumbai – 400005, Maharashtra, India
  • Syndicate Bank
  • HDFC Bank Limited
  • Industrial Development Bank of India

 

 

Facilities :

Secured Loans

31.03.2010 (Rs. In Millions)

31.03.2009 (Rs. In Millions)

Term Loans from:

 

 

Industrial Development Bank of India

150.000

150.000

Industrial Development Bank of India (FITL)

39.734

25.214

Syndicate Bank

50.000

50.000

Syndicate Bank – FITL

11.920

6.752

Export and Import Bank of India –LTWC

121.713

121.713

Export and Import Bank of India – FITL

45.137

32.930

United Bank – WCTL

25.000

25.000

United Bank – FITL

6.058

3.394

Andhra Bank – WCTL

75.000

75.000

Andhra Bank – FITL

18.537

10.787

The Jammu and Kashmir Bank Limited – WCTL

50.000

50.000

The Jammu and Kashmir Bank Limited – FITL

12.634

7.191

Working Capital Loan from:

 

 

Andhra Bank

75.385

84.823

The Jammu and Kashmir Bank Limited

50.387

50.951

United Bank of India

25.192

24.992

Total

756.697

718.747

 

 

 

Unsecured Loans

31.03.2010 (Rs. In Millions)

31.03.2009 (Rs. In Millions)

Interest Free Sales Tax Loan

51.718

50.611

ICICI Bank Limited

0.000

0.242

HDFC Bank Limited

0.908

0.592

Wacker Chemie AG

55.910

56.573

Loan from Promoters

2.000

0.000

Total

110.536

108.018

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

G P Associates

Chartered Accountant

Address :

Divya Sshakthi Complex, Greenlands, Hyderabad – 500016, Andhra Pradesh, India

Pan No.:

AACFG2920P

 

 

Name :

Pavuluri and Company

Chartered Accountant

Address :

105, 1st Block, 1st Floor, Divyashakti Complex, Ameerpet, Hyderabad – 500016, Andhra Pradesh, India

Pan No.:

AAFKP8963F

 

 

Associates :
  • Visakha Foods Private Limited

 

 

CAPITAL STRUCTURE

 

As On 31.03.2010

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

10000000

Equity Shares

Rs. 10/- each

Rs. 100.000 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

9050000

Equity Shares

Rs. 10/- each

Rs. 90.500 Millions

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

90.500

90.500

185.950

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

1152.598

1152.598

1023.998

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

1243.098

1243.098

1209.948

LOAN FUNDS

 

 

 

1] Secured Loans

756.697

718.747

720.526

2] Unsecured Loans

110.536

108.018

86.434

TOTAL BORROWING

867.233

826.765

806.960

DEFERRED TAX LIABILITIES

42.436

132.561

141.897

 

 

 

 

TOTAL

2152.767

2202.424

2158.805

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

687.878

870.331

904.858

Capital work-in-progress

36.861

34.965

58.317

 

 

 

 

INVESTMENT

0.000

0.000

0.000

DEFERREX TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
293.715

212.985

483.489

 

Sundry Debtors
282.669

296.755

261.509

 

Cash & Bank Balances
5.095

4.222

6.726

 

Other Current Assets
0.000

0.000

0.000

 

Loans & Advances
221.827

247.918

238.822

Total Current Assets
803.306

761.880

990.546

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors

157.126

127.378

64.800

 

Other Current Liabilities
38.627

99.400

65.947

 

Provisions
12.861

13.842

13.611

Total Current Liabilities
208.614

240.620

144.358

Net Current Assets
594.692

521.260

846.188

 

 

 

 

MISCELLANEOUS EXPENSES

833.336

775.868

349.442

 

 

 

 

TOTAL

2152.767

2202.424

2158.805

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2010

31.03.2009

31.03.2008

 

SALES

 

 

 

 

 

Income

462.338

511.978

506.946

 

 

Other Income

0.291

0.382

0.054

 

 

TOTAL                                     (A)

462.629

512.360

507.000

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Raw materials consumed

255.169

278.025

202.697

 

 

Other manufacturing expenses

116.266

153.734

110.083

 

 

Payments and benefits to employees

66.243

64.265

60.965

 

 

Administrative and Selling Expenses

70.401

34.838

43.075

 

 

Obsolete stocks written off

0.000

353.209

0.000

 

 

Increase in stocks

(66.456)

(91.718)

(2.359)

 

 

TOTAL                                     (B)

441.623

792.353

414.461

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)      I

21.006

(279.993)

92.539

 

 

 

 

 

Less

FINANCIAL EXPENSES                         (D)

69.023

59.981

99.786

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

(48.017)

(339.974)

(7.247)

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

98.789

95.410

107.428

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                               (G)

(146.806)

(435.384)

(114.675)

 

 

 

 

 

Less

TAX                                                                  (I)

(90.127)

(9.104)

(12.971)

 

 

 

 

 

 

PROFIT AFTER TAX (G-I)                                  (J)

(56.679)

(426.280)

(101.704)

 

 

 

 

 

 

Prior period adjustment

0.790

0.146

0.192

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

(725.918)

(299.492)

(197.596)

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

(783.387)

(725.918)

(299.492)

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

25.414

22.652

95.909

 

 

Plant and machinery

84.130

0.000

0.000

 

TOTAL EARNINGS

109.544

22.652

95.909

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

0.000

0.000

0.116

 

 

Stores & Spares

0.792

0.250

1.664

 

 

Capital Goods

1.775

0.000

3.371

 

TOTAL IMPORTS

2.567

0.250

5.151

 

 

 

 

 

 

Earnings Per Share (Rs.)

(6.26)

(52.54)

(14.43)

 

 

Expected Sales (2010-2011) : Rs. 800.000 Millions

 

 

QUARTERLY RESULTS

 

PARTICULARS

 

30.06.2010

30.09.2010

31.12.2010

Type

1st Quarter

2nd Quarter

3rd Quarter

Net Sales

175.550

196.330

196.500

Total Expenditure

160.330

174.340

182.720

PBIDT (Excl OI)

15.220

21.990

13.780

Other Income

0.00

2.850

6.150

Operating Profit

15.220

24.840

19.930

Interest

17.040

18.680

19.510

PBDT

(1.820)

6.160

0.420

Depreciation

25.010

25.030

25.020

Profit Before Tax

(26.830)

(18.860)

(24.600)

Profit After Tax

(26.830)

(18.860)

(24.600)

Net Profit

(26.830)

(18.860)

(24.600)

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2010

31.03.2009

31.03.2008

PAT / Total Income

(%)
(12.25)

(83.20)

(20.06)

 

 
 

 

 

Net Profit Margin

(PBT/Sales)

(%)
(31.75)

(85.04)

(22.62)

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
(8.79)

(26.67)

(6.05)

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
(0.12)

(0.35)

(0.10)

 

 
 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 
0.87

0.86

0.79

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
3.85

3.17

6.86

 

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

The Details of sundry creditors

Rs. In Millions

Particulars

31.03.2010

31.03.2009

31.03.2008

Sundry Creditors

 

 

 

Creditors for capital works

9.101

11.084

11.404

Creditors for materials

133.691

108.227

48.992

Creditors for expenses

14.334

8.067

4.404

Total

157.126

127.378

64.800

 

 

Overall Performance:

The Turnover of the company during the financial year 2009-10 has come down by 9.70% compared to previous year. This reduction is mainly on account of the fact that there were no revenues from Unit I combined with reduction in sales of Lovastatin. The bottom line i.e. gross contribution remained constant owing to cost control measures implemented during the year. The company has a small cash profit.

 

 

Contingent Liabilities:

The Following contingent liabilities are not provided for:

i.                     On account of Letters of Credit and Bank Guarantees (net of margin monies) amounting to Rs. NIL (Previous year Rs. NIL/-)

ii.                   Sales Tax: There are various demands raised by the sales tax authorities amounting to Rs.7,84,419/- (Previous year Rs. 19.286 millions) for which the company preferred appeals with higher authorities. Pending disposal of appeals, the company has deposited an amount of Rs NIL (Previous Year Rs 9.837 millions).

iii.                  Excise Duty: There are various demands raised by the Excise authorities amounting to Rs.0.334 million (Previous Year Rs. 0.334 million) for which the company preferred appeals with higher authorities. Pending disposal of appeals, the company has deposited an amount of Rs NIL (Previous Year Rs NIL) based on interim directions.

iv.                  Income Tax: There are various demands raised by the Income Tax authorities amounting to Rs.31.553 millions for which the company preferred appeals with Hon’ble High Court of A.P.

 

Form 8:

 

Corporate identity number of the company

L24110AP1991PLC013511

Name of the company

KREBS BIOCHEMICALS AND INDUSTRIES LIMITED

Address of the registered office or of the principal place of  business in India of the company

8-2-277/A, Plot no. 130,4A, 4th Floor, Inwinex Towers,Road no.2 , Banjara Hills, Hyderabad – 500034, Andhra Pradesh, India

This form is for

Modification of charge

Type of charge

Immovable Property

Particular of charge holder

Name :

Export-Import Bank of India

Address :

Centre One Building, Floor 21, World Trade Centre, Cuffe Parade, Mumbai – 400005, Maharashtra, India

Email :

eximhro@eximbankindia.in

Nature of instrument creating charge

A mortgage by deposit of title deeds by constructive delivery was created by Krebs Biochemicals and Industries Limited in favour of IDBI Bank Limited (IDBI), IDBI acting as agent of Export -Import Bank of India (Exim Bank) and Other CDR lenders over the immoveable properties of the Borrower situate at Kothapalli and Thegeda Village,  Vishakapatnam Dist. in the State of Andhra Pradesh for the restructured loan including funded interest term loan of Rs158.990 millions ('the Loan') by Exim Bank to the Borrower.

Date of instrument Creating the charge

21.06.2010

Amount secured by the charge

Rs. 158.990 Millions

Brief of the principal terms an conditions and extent and operation of the charge

Rate of Interest - Interest Rates schedule specified in Amendatory master restructuring agreement

 

Terms of Repayment - Repayment schedule specified in Amendatory master restructuring agreement

 

Extent and Operation of the charge - Pari passu first charge on entire immoveable properties of the Borrower, both present and future.

Particulars of the property charged

Immovable properties situate at Kothapalli and Thegeda Village, Kasimkota Mandal, Vishakapatnam Dist.in the State of Andhra Pradesh dated 21.06.2010(MOE)

Date of instrument modifying the charge

01.03.2010

Particulars of the present modification

Charge created by the Borrower in favor of Exim Bank over its moveable assets vide Deeds of Hypothecation shall continue to be charged and is further secured  by mortgage  deposit of title deeds by constructive delivery over its  immovable properties situate at Kothapalli and Thegeda Village, Vishakapatnam in State of AP with IDBI, IDBI acting as agent of Exim Bank vide MOE dated 21/06/10 as security for the Loan including funded interest loan of Rs158.990 millions

 

 

Fixed assets:

·         Land

·         Wells

·         Buildings

·         Plant and machinery

·         Boilers

·         Electrical installation

·         D.G. Set

·         Effluent treatment plant

·         Factory equipment

·         Lab equipment

·         Research and development equipment

·         Office equipment

·         Computers

·         Vehicles

·         Furniture

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.45.05

UK Pound

1

Rs.73.05

Euro

1

Rs.63.81

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

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

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

YES

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

29

 

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

-

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.