MIRA
INFORM REPORT
|
Report Date : |
07.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
MERIL LIFE SCIENCES INDIA PRIVATE LIMITED (w.e.f.
23.10.2009) |
|
|
|
|
Formerly Known
As : |
INTERNATIONAL TECHNOLOGIES PRIVATE LIMITED (w.e.f. 03.09.2007) INTERNATIONAL TECHNOLOGIES LIMITED |
|
|
|
|
Registered
Office : |
Bilakhia House, Survey No. 135/139, Muktanand Marg, Chala,
Vapi – 396191, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
02.06.1999 |
|
|
|
|
Com. Reg. No.: |
060787 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.60.641 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U33110GJ1999PTC060787 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader of Medical Devices |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow and delayed |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “Meril Life Science Private Limited” with
the effect from 13.10.2010. It is an established company having moderate
track. The latest financial of the company are not made available. As per
previous year’s, there appears huge external borrowings recorded by the
company. Financial position of the company is under huge pressure. However,
business is active. Payments terms are slow and delayed. In view of strong holding company, the company can be considered for
business dealings with great 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including industrial
deregulation, privatization of state-owned enterprises, and reduced controls on
foreign trade and investment, began in the early 1990s and has served to
accelerate the country's growth, which has averaged more than 7% per year since
1997. India's diverse economy encompasses traditional village farming, modern
agriculture, handicrafts, a wide range of modern industries, and a multitude of
services. Slightly more than half of the work force is in agriculture, but
services are the major source of economic growth, accounting for more than half
of India's output, with only one-third of its labor force. India has
capitalized on its large educated English-speaking population to become a major
exporter of information technology services and software workers. In 2010, the
Indian economy rebounded robustly from the global financial crisis - in large
part because of strong domestic demand - and growth exceeded 8% year-on-year in
real terms. However, India's economic growth in 2011 slowed because of persistently
high inflation and interest rates and little progress on economic reforms. High
international crude prices have exacerbated the government's fuel subsidy
expenditures contributing to a higher fiscal deficit, and a worsening current
account deficit. Little economic reform took place in 2011 largely due to
corruption scandals that have slowed legislative work. India's medium-term
growth outlook is positive due to a young population and corresponding low
dependency ratio, healthy savings and investment rates, and increasing
integration into the global economy. India has many long-term challenges that
it has not yet fully addressed, including widespread poverty, inadequate
physical and social infrastructure, limited non-agricultural employment
opportunities, scarce access to quality basic and higher education, and
accommodating rural-to-urban migration.
|
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
|
Registered Office / Corporate Headquarter : |
Bilakhia House, Survey No. 135/139, Muktanand Marg, Chala,
Vapi – 396191, Gujarat, India |
|
Tel. No.: |
91-260-3052100 |
|
Fax No.: |
91-260-3052125 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
International Sales Office : |
612, B-Wing, Bonanza, Sahar Plaza, Andheri (East), Mumbai 400 059, Maharashtra, India |
|
Tel. No.: |
91-22-39350700 |
|
Fax No.: |
91-22-40479717 |
|
|
|
|
Domestic Sales Office : |
512/513, Midas tower, Sahar Plaza, Andheri (East), Mumbai 400 059, Maharashtra, India |
|
Tel. No.: |
91-22-40479797 |
|
Fax No.: |
91-22-40479717 |
DIRECTORS
As on 10.09.2012
|
Name : |
Mr. Pramodkumar Mangalsain
Minocha |
|
Designation : |
Director |
|
Address : |
108, Bhagyoday Society, Daman Road, Chala, Vapi, Valsad – 396191, Gujarat, India |
|
Date of Birth/Age : |
20-10-1953 |
|
Date of Appointment : |
01.09.2006 |
|
DIN No.: |
00090060 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U24231GJ1993PTC038905 |
MITSU
PRIVATE LIMITED |
Whole-time
director |
01/11/2007 |
18/06/1999 |
- |
Active |
NO |
|
2 |
U73100GJ2000PTC038179 |
BILAKHIA
RESEARCH PRIVATE LIMITED |
Director |
19/07/2000 |
19/07/2000 |
- |
Active |
NO |
|
3 |
U24119GJ2006PTC048361 |
MICRO
LIFE SCIENCES PRIVATE LIMITED |
Director |
31/05/2006 |
31/05/2006 |
- |
Active |
NO |
|
4 |
U73100GJ2006PTC048747 |
MEXUS
EDUCATION PRIVATE LIMITED |
Director |
21/07/2006 |
21/07/2006 |
- |
Active |
NO |
|
5 |
U33110GJ1999PTC060787 |
MERIL
LIFE SCIENCES INDIA PRIVATE LIMITED |
Director |
01/09/2006 |
01/09/2006 |
- |
Active |
NO |
|
6 |
U40109GJ2006PTC049225 |
MITSU
ENERGY PRIVATE LIMITED |
Additional
director |
14/05/2007 |
14/05/2007 |
01/08/2007 |
Active |
NO |
|
7 |
U36900MH2007PTC171150 |
M
GRAPH INDUSTRIES PRIVATE LIMITED |
Director |
24/05/2007 |
24/05/2007 |
- |
Active |
NO |
|
8 |
U34203GJ2006PTC048639 |
MYLIFE
PRIVATE LIMITED |
Director |
20/09/2008 |
15/12/2007 |
- |
Active |
NO |
|
9 |
U24232GJ2008PTC052865 |
MERIL
ORTHOPEDIC PRIVATE LIMITED |
Director |
08/02/2008 |
08/02/2008 |
- |
Active |
NO |
|
10 |
U02001GJ2005PTC047077 |
MIPRO
SOLUTION PRIVATE LIMITED |
Director |
20/09/2008 |
09/05/2008 |
- |
Active |
NO |
|
11 |
U67120GJ2006PTC048276 |
M3
INVESTMENT MANAGERS PRIVATE LIMITED |
Director |
20/08/2009 |
04/12/2008 |
- |
Active |
NO |
|
12 |
U45400MH2008PTC180804 |
MAPEL
INFRASTRUCTURE PRIVATE LIMITED |
Director |
21/08/2009 |
02/03/2009 |
- |
Active |
NO |
|
13 |
U65993GJ2009PTC058459 |
MOYAL
INVESTMENT PRIVATE LIMITED |
Director |
29/10/2009 |
29/10/2009 |
31/12/2009 |
Active |
NO |
|
14 |
U45201GJ2007PTC065729 |
MARCO
INFRASTRUCTURE HOLDINGS PRIVATE LIMITED |
Director |
16/08/2010 |
11/11/2009 |
- |
Active |
NO |
|
15 |
U33110GJ2009PTC058829 |
INTERVENTIONAL
TECHNOLOGIES AND DEVICES PRIVATE LIMITED |
Director |
09/12/2009 |
09/12/2009 |
- |
Active |
NO |
|
16 |
U80301GJ2010PTC059217 |
AXIOM
EDUCATION AND SERVICES PRIVATE LIMITED |
Director |
13/01/2010 |
13/01/2010 |
- |
Active |
NO |
|
17 |
U65993GJ2005PTC045417 |
M3
INVESTMENT PRIVATE LIMITED |
Director |
15/07/2010 |
31/03/2010 |
25/02/2012 |
Active |
NO |
|
18 |
U65990GJ1999PTC035945 |
MIXON
HOLDINGS PRIVATE LIMITED |
Director |
15/07/2010 |
31/03/2010 |
- |
Active |
NO |
|
19 |
U65990GJ1999PTC035882 |
MARCO
PRIVATE LIMITED |
Director |
15/07/2010 |
31/03/2010 |
- |
Active |
NO |
|
20 |
U24239GJ2007PTC051137 |
MERIL
LIFE SCIENCES PRIVATE LIMITED |
Additional
director |
20/10/2010 |
20/10/2010 |
22/03/2011 |
Active |
NO |
|
21 |
U65993GJ2005PTC046848 |
MARCO
HOLDINGS PRIVATE LIMITED |
Director |
10/08/2011 |
03/02/2011 |
- |
Active |
NO |
|
22 |
U33110GJ2011PTC064994 |
MERIL
DIAGNOSTICS PRIVATE LIMITED |
Director |
18/04/2011 |
18/04/2011 |
- |
Active |
NO |
|
23 |
U33110GJ2011PTC064993 |
MERIL
MEDICAL PRIVATE LIMITED |
Director |
18/04/2011 |
18/04/2011 |
- |
Active |
NO |
|
24 |
U24230GJ2011PTC065022 |
MERIL
HEALTHCARE PRIVATE LIMITED |
Director |
19/04/2011 |
19/04/2011 |
- |
Active |
NO |
|
25 |
U33110GJ2011PTC065366 |
MERIL
ENDO SURGERY PRIVATE LIMITED |
Director |
10/05/2011 |
10/05/2011 |
- |
Active |
NO |
|
26 |
U33110GJ2011PTC065364 |
MERIL
THERAPEUTICS PRIVATE LIMITED |
Director |
10/05/2011 |
10/05/2011 |
- |
Active |
NO |
|
27 |
U24100GJ2011PTC065363 |
MERIL
PHARMACEUTICALS PRIVATE LIMITED |
Director |
10/05/2011 |
10/05/2011 |
- |
Active |
NO |
|
28 |
U73200GJ2011PTC066526 |
MERIL
RESEARCH PRIVATE LIMITED |
Director |
26/07/2011 |
26/07/2011 |
- |
Active |
NO |
|
29 |
U33110GJ2011PTC066547 |
MERIL
OPHTHALMIC PRIVATE LIMITED |
Director |
27/07/2011 |
27/07/2011 |
- |
Active |
NO |
|
30 |
U73100GJ2011PTC066912 |
MERIL
TECHNOLOGIES PRIVATE LIMITED |
Director |
27/08/2011 |
27/08/2011 |
- |
Active |
NO |
|
31 |
U73100GJ2011PTC066927 |
MERIL
INNOVATION PRIVATE LIMITED |
Director |
29/08/2011 |
29/08/2011 |
- |
Active |
NO |
|
32 |
U33110GJ2011PTC068204 |
MERIL
IMAGING PRIVATE LIMITED |
Director |
14/12/2011 |
14/12/2011 |
- |
Active |
NO |
|
33 |
U33110GJ2011PTC068202 |
MERIL
ENT PRIVATE LIMITED |
Director |
14/12/2011 |
14/12/2011 |
- |
Active |
NO |
|
34 |
U33110GJ2011PTC068200 |
MERIL
DENTAL PRIVATE LIMITED |
Director |
14/12/2011 |
14/12/2011 |
- |
Active |
NO |
|
Name : |
Mr. Tarak Dineshkumar Buch |
|
Designation : |
Whole-time director |
|
Address : |
B - 103, Caviana Hiranandani,, Estate, Patlipada, G.B. Road, Thane – 400607, Maharashtra, India |
|
Date of Birth/Age : |
01.09.2006 |
|
Date of Appointment : |
01.09.2006 |
|
DIN No.: |
00936806 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 10.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Meril Life Sciences Private Limited, India |
|
6064000 |
|
Meril Life Sciences Private Limited jointly with Mr. Anjum Bilakhia, India |
|
100 |
|
Total |
|
6064100 |
Equity Share Break up (Percentage of Total Equity)
As on 10.09.2012
|
Category |
|
Percentage |
|
Bodies corporate |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Medical Devices |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
Union Bank of India, Sion Branch, Smita Apartment 169/B, Sion, Mumbai
– 400022, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Gopalakrishnan Aiyer and Company Chartered Accountants |
|
Address : |
CM-8/13, Dharti Chamber, First Floor, N.H.No.8, Vapi - 396195, Gujarat, India |
|
PAN No.: |
ABDPA7449K |
|
|
|
|
Ultimate Holding
Company : |
Bilakhia Holdings Private Limited |
|
|
|
|
Holding Company : |
Meril Life Sciences Private Limited (from 13th October, 2010) |
|
|
|
|
Joint Venture
company of the group companies : |
Maxx Orthopedic, INC, USA |
CAPITAL STRUCTURE
As on 31.03.2011
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 |
|
|
|
|
|
|
6064100 |
Equity Shares |
Rs.10/- each |
Rs.60.641
Millions |
|
|
|
|
|
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 |
60.641 |
60.641 |
60.641 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
10.520 |
10.520 |
11.491 |
|
|
4] (Accumulated Losses) |
(73.936) |
(2.948) |
0.000 |
|
|
NETWORTH |
(2.775) |
68.213 |
72.132 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
35.668 |
14.924 |
30.330 |
|
|
2] Unsecured Loans |
76.000 |
30.000 |
30.000 |
|
|
TOTAL BORROWING |
111.668 |
44.924 |
60.330 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
108.893 |
113.137 |
132.462 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
26.166 |
17.050 |
10.165 |
|
|
Capital work-in-progress |
31.019 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.010 |
0.010 |
0.010 |
|
|
DEFERREX TAX ASSETS |
6.034 |
4.597 |
3.568 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
184.736
|
93.873 |
80.926 |
|
|
Sundry Debtors |
129.142
|
118.157 |
99.016 |
|
|
Cash & Bank Balances |
13.879
|
10.739 |
9.390 |
|
|
Other Current Assets |
0.005
|
0.003 |
0.003 |
|
|
Loans & Advances |
48.195
|
12.751 |
11.682 |
|
Total
Current Assets |
375.957
|
235.523 |
201.017 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
9.733
|
132.809 |
77.194 |
|
|
Other Current Liabilities |
319.729
|
9.371 |
3.945 |
|
|
Provisions |
0.831
|
1.863 |
1.159 |
|
Total
Current Liabilities |
330.293
|
144.043 |
82.298 |
|
|
Net Current Assets |
45.664
|
91.480 |
118.719 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
108.893 |
113.137 |
132.462 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
313.231 |
368.407 |
328.296 |
|
|
|
Other Income |
0.093 |
0.425 |
1.491 |
|
|
|
TOTAL |
313.324 |
368.832 |
329.787 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
385.510 |
373.711 |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
(72.190) |
(4.879) |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(1.202) |
(0.960) |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
(70.988) |
(3.919) |
(17.040) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(2.948) |
0.971 |
18.011 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(73.936) |
(2.948) |
0.971 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
0.000 |
4.837 |
9.389 |
|
|
|
Commission Income |
0.000 |
0.000 |
0.878 |
|
|
TOTAL EARNINGS |
0.000 |
4.837 |
10.267 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Goods for Resale |
144.708 |
150.223 |
166.590 |
|
|
|
Capital Goods |
12.358 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
157.066 |
150.223 |
166.590 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(11.71) |
(0.65) |
(2.81) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(22.66) |
(1.06) |
(5.17) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(23.05) |
(1.32) |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(17.95) |
(1.93) |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
26.01 |
(0.07) |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
(159.27) |
2.77 |
1.98 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.14 |
1.64 |
2.44 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
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 |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
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 |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
OPERATION
During the year, the Company achieved a turnover of Rs.313.231 Millions as compared to Rs.368.407 Millions in the previous year. The current year sales represent domestic sales only. The management of the Company is optimistic for better performance in future.
NOTE:
The registered office address of the company has been shifted from
“Kalpdeep, Plot No. 147, H-1, Opposite Rofel College, Charwada Road, GIDC,
Vapi, Valsad – 396195, Gujarat, India” to the present address w.e.f.
25.10.2010.
CONTINGENT
LIABILITY
(Rs.
In Millions)
|
Particulars
|
31.03.2011 |
31.3.2010 |
|
|
|
|
|
Guarantee given by bank |
0.200 |
0.200 |
|
Disputed Sales tax matter where the company is in appeal |
0.150 |
0.150 |
BANKERS CHARGES REPORT
AS PER REGISTRY
|
Corporate identity number of the company |
U33110GJ1999PTC060787 |
|
Name of the company |
MERIL LIFE SCIENCES INDIA PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
Bilakhia House, Survey No. 135/139, Muktanand Marg, Chala, Vapi – 396191, Gujarat, India E-mail Id : Himmat.Lodha@m3investment.co.in |
|
This form is for |
Creation of charge |
|
Type of charge |
Book debts Movable property (not being pledge) Floating charge |
|
Particular of charge holder |
Union Bank of India, Sion Branch, Smita Apartment 169/B, Sion, Mumbai – 400022, Maharashtra, India E-mail Id : prerana.chavan@sc.com |
|
Nature of instrument creating charge |
Unattested Memorandum of Hypothecation |
|
Date of instrument Creating the charge |
16.08.2012 |
|
Amount secured by the charge |
Rs.350.000 Millions |
|
Brief of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As agreed by and with the Bank from time to time. Terms of Repayment As agreed by and with the Bank from time to time. Margin As agreed by and with the Bank from time to time. Extent and Operation of the charge The Bank is having first exclusive charge on the security given by the Company. Others |
|
Short particulars of the property or asset(s) charged (including complete address and location of the property) |
Hypothecation by first exclusive charge on a) all present and future book debts, outstanding moneys receivables, claims and bills. b) all the present and future stock in trade consisting of raw materials, finished goods, goods in process of manufacturing and other merchadise |
FIXEDN ASSETS:
· Office Equipments
· Computers
· Furniture and Fixtures
· Vehicles
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.54.47 |
|
|
1 |
Rs.87.63 |
|
Euro |
1 |
Rs.71.12 |
INFORMATION DETAILS
|
Report Prepared
by : |
BSN |
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 |
4 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
26 |
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.