|
Report Date : |
11.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
|
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|
|
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Registered
Office : |
407, Arun Chambers, |
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Country : |
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|
|
|
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Financials (as
on) : |
31.03.2011 |
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|
|
Date of
Incorporation : |
05.09.2003 |
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|
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Com. Reg. No.: |
11-142060 |
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Capital
Investment / Paid-up Capital : |
Rs.0.500 Million |
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|
|
CIN No.: [Company Identification
No.] |
U51431MH2003PTC142060 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Exporter and Importer of Pharmaceutical Drugs. |
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|
No. of Employees
: |
15 [Approximately] in office |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 55000 |
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|
|
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade relations
are fair. Business is active. Payments are reported to be usually correct and
as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
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 |
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|
|
|
|
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. Prabhakar |
|
Designation : |
Finance Department |
|
Contact No.: |
91-22-40022111 |
LOCATIONS
|
Registered Office : |
407, Arun Chambers, |
|
Tel. No.: |
91-22-23526069 |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Branch : |
511, Ambesy Centre, Nariman Point, Mumbai – 400 021, |
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Tel. No.: |
91-22-40022111 |
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Fax No.: |
91-22-40022122 |
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|
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Godown/ Branch Office : |
Shop No.1 A-2 23 A |
DIRECTORS
(AS ON 30.09.2011)
|
Name : |
Mr. Rupin Hemant Banker |
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Designation : |
Director |
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Address : |
15th Floor, |
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Date of Appointment : |
05.09.2003 |
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DIN No.: |
01307599 |
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Other Directorship : |
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Name : |
Mrs. Meenakshi Rupin Banker |
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Designation : |
Director |
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Address : |
15th Floor, |
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Date of Appointment : |
05.09.2003 |
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DIN No.: |
01307372 |
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Other Directorship : |
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KEY EXECUTIVES
|
Name : |
Mr. Prabhakar |
|
Designation : |
Finance Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2011)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Rupin Hemant Banker |
|
45500 |
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Meenakshi Rupin Banker |
|
4500 |
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Total |
|
50000 |
Equity Shares Break – up
AS ON 30.09.2011
|
Category |
|
Percentage |
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|
|
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Directors or relatives of Directors |
|
100.00 |
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Exporter and Importer of Pharmaceutical Drugs. |
GENERAL INFORMATION
|
No. of Employees : |
15 [Approximately] in office |
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Bankers : |
·
The Mahanagar Co-operative Bank Limited Hiramani Market, Basement, ·
Axis Bank Limited ·
Kotak Mahindra Bank ·
Barclays Bank ·
Bank of ·
State Bank of ·
Standard Chartered Bank ·
IDBI Bank ·
Indusind Bank ·
ING Vysa Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
H. R. Joshi and Company Chartered Accountants |
|
Address : |
43/45, Ganesh Bhuvan, 1st Floor, 2nd |
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Tel. No.: |
91-22-22060217 |
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Fax No.: |
91-22-22089788 |
|
PAN No.: |
AAEPJ9204H |
CAPITAL STRUCTURE
(AS ON 30.09.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
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|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
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|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.500 |
0.500 |
0.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
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|
3] Reserves & Surplus |
13.308 |
11.150 |
9.048 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
13.808 |
11.650 |
9.548 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
10.550 |
9.376 |
9.589 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
10.550 |
9.376 |
9.589 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
|
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TOTAL |
24.358 |
21.026 |
19.137 |
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APPLICATION OF FUNDS |
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|
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|
FIXED ASSETS [Net Block] |
2.036 |
4.475 |
1.077 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.572 |
1.572 |
1.351 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.981
|
5.733
|
0.724 |
|
|
Sundry Debtors |
11.409
|
2.422
|
9.215 |
|
|
Cash & Bank Balances |
0.991
|
0.249
|
4.115 |
|
|
Other Current Assets |
0.258
|
0.257
|
0.358 |
|
|
Loans & Advances |
28.496
|
23.364
|
24.519 |
|
Total
Current Assets |
42.135
|
32.025
|
38.931 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
16.120
|
12.745
|
18.877 |
|
|
Other Current Liabilities |
0.000
|
0.000
|
0.000 |
|
|
Provisions |
5.265
|
4.301
|
3.345 |
|
Total
Current Liabilities |
21.385
|
17.046
|
22.222 |
|
|
Net Current Assets |
20.750
|
14.979
|
16.709 |
|
|
|
|
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|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
24.358 |
21.026 |
19.137 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
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|
NET PROFIT |
2.157 |
2.102 |
2.001 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.31
|
2.27
|
3.33 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.97
|
1.88
|
1.75 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business• |
Yes |
|
7) Promoter’s background |
Yes |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last three years |
No |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
No |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
NOTE:
Registered office address of the company has been shifted from 82-B,
Mittal Court Nariman Point, Mumbai – 400021,
STATE OF THE AFFAIRS OF THE COMPANY:
The company has made a profit of Rs.2.157 millions
for the financial year ended 31.03.2011 as against a net profit of Rs.2.102
millions for the financial year ended 31.03.2010.
FORM 8:
|
Corporate
identity number of the company |
U51431MH2003PTC142060 |
|
Name of the
company |
|
|
Address of the
registered office or of the principal place of business in |
407, Arun
Chambers, |
|
This form is for |
Creation of
charge |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
The Mahanagar
Co-operative Bank Limited Hiramani Market, |
|
Nature of
description of the instrument creating or modifying the charge |
Mortgage Deed. |
|
Date of
instrument Creating the charge |
05/10/2011 |
|
Amount secured by
the charge |
Rs.30.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest @ 14%
p.a Terms of
Repayment On demand Margin As may be stipulated
by the Bank from time to time. Extent and
Operation of the charge The Company
created a registered mortgage in
respect of its immovable properties as stated under item No.15 as security
for the due repayment of Rs.30.000 Millions by the Company including
principal amount of the Facility, interest, liquidated damages, costs,
charges and expenses etc. |
|
Short particulars
of the property charged |
Office unit No.
905 and 906, A-Wing of Bldg No. 7 (D-5) in Innova and the project known as Marathon
Nextgen Innova, IT Park, situated at S. No. 2/142, Lower Parel, Mumbai-400
013 admg 586.09 and 612.96 sq carpet respectively. |
FIXED ASSETS:
·
Computer
·
Motorcar
·
Furniture and Fixture
·
Office Equipments
·
Machinery
·
Air Condition
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.51.20 |
|
|
1 |
Rs.81.50 |
|
Euro |
1 |
Rs.67.15 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
47 |
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.