MIRA
INFORM REPORT
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Report Date : |
01.12.2012 |
IDENTIFICATION DETAILS
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Name : |
BIONEEDS INDIA PRIVATE LIMITED |
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Registered
Office : |
Devarahosalli, Sompura Hobli, Nelamangala Taluk |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
28.03.2007 |
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Com. Reg. No.: |
08-042282 |
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Capital
Investment/ Paid-up Capital: |
Rs.0.500 Million |
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CIN No.: [Company Identification
No.] |
U01409KA2007PTC042282 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing and Marketing of Bio – Chemical and Bio Technology
Products. |
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No. of
Employees: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca (11) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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Status : |
Yet to commence Business activity |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Even though the subject was incorporated during March 2007, it is yet
to commence any operation. Financial position of the company appears to be weak. Payment terms are unknown The company can be considered for business dealings on a safe and
secured 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 – June 30, 2012
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
INDIAN ECONOMIC OVERVIEW
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Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
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Registered Office : |
Devarahosalli, Sompura Hobli, Nelamangala Taluk |
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Tel. No.: |
91-816-2243751-55 |
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Fax No.: |
91-816-2243333 |
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E-Mail : |
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Email: : |
DIRECTORS
AS ON 22.06.2011
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Name : |
Mr. Shankarappa Nagaraj Vinaya Babu |
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Designation : |
Director |
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Address : |
Siddi Siri Veera Sadan, 6th Cross, Ashoka Nagara, Tumkur -572102, |
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Date of Birth/Age : |
14.10.1975 |
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Date of Appointment : |
28.03.2007 |
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Din No.: |
01373832 |
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Other Directorship:
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Name : |
Mr. Paramesh Kiran Kumar |
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Designation : |
Director |
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Address : |
N H 4, I - Indian Kyathasandra, Tumkur -572102,
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Date of Birth/Age : |
16.05.1975 |
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Date of Appointment : |
28.03.2007 |
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Din No.: |
01264160 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 22.06.2011
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Names of Shareholders |
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No. of Shares |
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Shankarappa Nagaraj Vinaya Babu |
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45000 |
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Mr. Paramesh Kiran Kumar |
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5000 |
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Total |
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50000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 22.06.2011
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Category |
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Percentage |
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Other top fifty shareholders |
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100.00 |
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Total
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing and Marketing of Bio – Chemical and Bio Technology
Products. |
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GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
Not Available |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
V. Mahendra and Associates Chartered Accountant |
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Address : |
1st Floor, |
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Pan No.: |
AIAPM2590H |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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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
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SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.500 |
0.500 |
0.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
0.500 |
0.500 |
0.500 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.019 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.019 |
0.000 |
0.0000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
0.519 |
0.500 |
0.500 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.000 |
0.000 |
0.000 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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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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Inventories |
0.000
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0.000 |
0.000 |
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Sundry Debtors |
0.000
|
0.000 |
0.000 |
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Cash & Bank Balances |
0.014
|
0.002 |
0.002 |
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Other Current Assets |
0.500
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0.500 |
0.500 |
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Loans & Advances |
0.000
|
0.000 |
0.000 |
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Total
Current Assets |
0.514
|
0.502 |
0.502 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
0.000
|
0.000 |
0.000 |
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Other Current Liabilities |
0.173
|
0.176 |
0.173 |
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Provisions |
0.000
|
0.000 |
0.000 |
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Total
Current Liabilities |
0.173
|
0.176 |
0.173 |
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Net Current Assets |
0.341
|
0.326 |
0.329 |
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MISCELLANEOUS EXPENSES |
0.178 |
0.174 |
0.171 |
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TOTAL |
0.519 |
0.500 |
0.500 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Other Income |
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TOTAL |
NIL |
NIL |
NIL |
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EXPENSES |
NIL |
NIL |
NIL |
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PROFIT BEFORE
TAX |
NIL |
NIL |
NIL |
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TAX |
NIL |
NIL |
NIL |
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PROFIT AFTER TAX
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NIL |
NIL |
NIL |
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KEY RATIOS
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PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
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PAT / Total Income |
(%) |
0.000 |
0.000 |
0.000 |
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Net Profit Margin (PBT/Sales) |
(%) |
0.000 |
0.000 |
0.000 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.000 |
0.000 |
0.000 |
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Return on Investment (ROI) (PBT/Networth) |
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0.000 |
0.000 |
0.000 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.38 |
0.352 |
0.346 |
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Current Ratio (Current Asset/Current Liability) |
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2.97 |
2.85 |
2.90 |
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
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Year
of Establishment |
Yes |
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Locality
of the Firm |
Yes |
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Constitution
of the firm |
Yes |
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Premises
details |
No |
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Type
of Business |
Yes |
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Line
of Business |
Yes |
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Promoters
background |
Yes |
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No.
of Employees |
No |
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Name
of Person Contacted |
No |
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Designation
of contact person |
No |
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Turnover
of firm for last three years |
Yes |
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Profitability
for last three years |
Yes |
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Reasons
for variation <> 20% |
- |
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Estimation
for coming financial year |
No |
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Capital
the business |
Yes |
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Details
of sister concerns |
No |
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Major
Suppliers |
No |
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Major
Customers |
No |
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Payment
Terms |
No |
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Export
/ Import Details [If Applicable] |
No |
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Market
Information |
- |
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Litigations
that the firm / promoter involved in |
- |
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Banking
Details |
No |
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Banking
Facility Details |
No |
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Conduct
of the banking account |
- |
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Buyer
visit details |
- |
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Financials,
if provided |
Yes |
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Incorporation
details, if applicable |
Yes |
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Last
accounts filed at ROC |
No |
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Major
Shareholders, if applicable |
Yes |
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Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
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PAN
of Proprietor/Partner/Director, if available |
No |
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Voter
ID No of Proprietor/Partner/Director, if available |
No |
|
External Agency
Rating, if available |
No |
Operations
During the period, the Company has not commenced any operations
AS PER WEB SITE DETAILS
COMPANY PROFILE
BIONEEDS is a Bangalore (INDIA) based, integrated and
privately owned OECD GLP Certified
Pre-Clinical Contract Research Organization (CRO) which is supporting
pharmaceutical and biotechnology companies by providing quality and cost
effective preclinical services and Drug Testing Laboratory services. It has a
state of the art 50000 sq ft facility at Devarahosahally, Nelamangala Taluk,
Bangalore Rural which is 60 kilometers from
MILESTONES
2005-06 : Rodent / Non-Rodent Breeding facility
2006-07 : Pre-clinical laboratories
2007-08 : Addition of 20 experimental rooms
2008-09 : Addition of 10 experimental rooms
2009-10 : Drug Testing Laboratory accreditation
2010-11 : Addition of 20 experimental rooms
2011-12 : OECD GLP Accreditation
2012-13 : Dog facility (In process)
AAALAC accreditation (In process)
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|
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 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 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.55.20 |
|
|
1 |
Rs.88.38 |
|
Euro |
1 |
Rs.55.20 |
INFORMATION DETAILS
|
Report Prepared
by : |
BYI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
1 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
1 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
11 |
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.