MIRA
INFORM REPORT
|
Report Date : |
28.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
TITAN LABORATORIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
102, Titan House, |
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|
|
|
Country : |
|
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|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
14.06.2004 |
|
|
|
|
Com. Reg. No.: |
11-146928 |
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|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.19.681
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24100MH2004PTC146928 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM22848A |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufactures of Sustained and Modified Release Pellets, DC Granules and
Taste Mask Granules. |
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|
|
|
No. of Employees
: |
60 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 337000 |
|
|
|
|
Status : |
Moderate |
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|
|
Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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|
|
Comments : |
Subject is a
established company having moderate track. The financial detail for the
current year is missing from government department. However, from previous year
record company having satisfactory track. Trade relations are reported to be
fair. Business is active. Payment terms are unknown. 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 – 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 : |
102, Titan House, 60 Feet Road, M.P. Vidhya Marg, Ghatkopar (East),
Mumbai - 400 077, Maharashtra, India |
|
Tel. No.: |
91-22-67857000 |
|
Fax No.: |
91-22-67857070 |
|
E-Mail : |
Marketing Email: HR Email : Mr. Sadashiv-hrd1@titanpharma.com Ms. Arti-hrd2@titanpharma.com Purchase Email : Mr. Rushab-purchase@titanpharma.com Mr. Rakesh-purchase.ho@titanpharma.com |
|
Website : |
|
|
Location : |
Rented |
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|
|
|
Corporate Office : |
210, A Wing, Kahara Business Centre, |
|
Tel. No.: |
91-22-67974849/ 67974850/ 67974852/ 55974850 |
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Fax No.: |
91-22-67974851/ 25006678 |
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E-Mail : |
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Website: |
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Factory : |
Plot No. E 27-1, E 27-2, MIDC Mahad, Village Jite, District Raigad, |
|
Location : |
Leased |
DIRECTORS
As on 10.09.2011
|
Name : |
Mr. Bhailal Babulal Shah |
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Designation : |
Director |
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|
Address : |
601-602, Titan House, M.P. Vaidya Marg, Opposite Bank of Maharashtra,
Ghatkopar (East), Mumbai – 400077, Maharashtra, India |
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Date of Birth/Age : |
02.09.1945 |
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Date of Appointment : |
01.04.2008 |
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DIN No.: |
00133479 |
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Other Directorship :
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Name : |
Mr. Piyush Bhailal Shah |
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Designation : |
Director |
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|
Address : |
601-602, Titan House, M.P. Vaidya Marg, Opposite Bank of Maharashtra,
Ghatkopar (East), Mumbai – 400077, Maharashtra, India |
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Date of Birth/Age : |
05.12.1977 |
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Date of Appointment : |
14.06.2004 |
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DIN No.: |
00606740 |
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Other Directorship :
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|
Name : |
Mr. Virendra Babulal Shah |
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Designation : |
Director |
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|
Address : |
601-602, Titan House, M.P. Vaidya Marg, Opposite Bank of Maharashtra, Ghatkopar
(East), Mumbai – 400077, Maharashtra, India |
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Date of Birth/Age : |
26.02.1953 |
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Date of Appointment : |
29.09.2005 |
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DIN No.: |
02044691 |
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Other Directorship :
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Name : |
Mr. Deepak Bhailal Shah |
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Designation : |
Director |
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|
Address : |
601-602, Titan House, M.P. Vaidya Marg, Opposite Bank of Maharashtra,
Ghatkopar (East), Mumbai – 400077, Maharashtra, India |
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|
Date of Birth/Age : |
24.03.1980 |
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Date of Appointment : |
01.04.2008 |
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DIN No.: |
02051891 |
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Other Directorship :
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Name : |
Ms. Hiromi Deepak Shah |
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|
Designation : |
Director |
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|
Address : |
601-602, Titan House, M.P. Vaidya Marg, Opposite Bank of Maharashtra,
Ghatkopar (East), Mumbai – 400077, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Date of Birth/Age : |
01.02.1980 |
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Date of Appointment : |
29.09.2005 |
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DIN No.: |
02134510 |
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Other Directorship :
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 18.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Bhailal B. Shah jointly with Ranjan B. Shah |
|
510600 |
|
Piyush B. Shah jointly with Jigna P. Shah |
|
614600 |
|
Deepak B Shah jointly with Hiromi D. Shah |
|
462600 |
|
Jigna P. Shah jointly with Piyush B. Shah |
|
67500 |
|
Hiromi D. Shah jointly with Deepak B. Shah |
|
100500 |
|
Ranjan B. Shah jointly with Bhailal B. Shah |
|
133300 |
|
Ranjan B. Shah jointly with Deepak B. Shah |
|
79000 |
|
|
|
|
|
Total
|
|
1968100 |
As on: 18.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufactures of Sustained and Modified Release Pellets, DC Granules and
Taste Mask Granules. |
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Products : |
Generic Names of principal Products of Company
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Details of
Capacity |
Licensed
Capacity |
Installed
Capacity |
|
Pellets |
108 M.T. |
108 M.T. |
|
Particulars |
Actual
Production Qty.
|
|
Omerprazole E/C Pellets |
5854.74 |
|
Tamsulosin HCL SR Pellets |
2117.78 |
|
Pantoprazole Pellets |
1.00 |
|
Domperidone Pellets |
5664.25 |
|
Orlistat Pellets |
10701.00 |
GENERAL INFORMATION
|
No. of Employees : |
60 (Approximately) |
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Bankers : |
v HDFC Bank Limited v Union Bank of India, Khand Bazar Branch, 109, Kazi Sayed Street, Khand Bazar, Mumbai - 400 003, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Rajesh J. Shah and Associates Chartered Accountants |
|
Address : |
B-401-404, 4th Floor, |
|
Tel. No.: |
91-79-26580664/ 26580765 |
|
Mobile No.: |
91-9824045695 (RJS) 91-9426008343 (KBP) |
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Fax No.: |
91-79-26580765 |
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E-Mail : |
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|
PAN No.: |
AADFR0856J |
CAPITAL STRUCTURE
As on: 18.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1968100 |
Equity Shares |
Rs.10/- each
|
Rs.19.681
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 |
19.681 |
19.681 |
19.681 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
64.471 |
27.817 |
2.607 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
84.152 |
47.498 |
22.288 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
41.746 |
41.206 |
42.227 |
|
|
2] Unsecured Loans |
54.249 |
36.291 |
8.898 |
|
|
TOTAL BORROWING |
95.995 |
77.497 |
51.125 |
|
|
DEFERRED TAX LIABILITIES |
27.716 |
8.427 |
4.303 |
|
|
|
|
|
|
|
|
TOTAL |
207.863 |
133.422 |
77.716 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
159.916 |
86.446 |
73.066 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
2.435 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
39.654
|
25.924 |
17.999
|
|
|
Sundry Debtors |
49.611
|
36.770 |
32.258
|
|
|
Cash & Bank Balances |
112.529
|
68.902 |
0.287
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Loans, Advances & Deposits |
43.804
|
19.862 |
6.753
|
|
Total
Current Assets |
245.598
|
151.458 |
57.297 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
162.604
|
73.847 |
43.782
|
|
|
Other Current Liabilities |
26.884
|
24.038 |
4.284
|
|
|
Provisions |
10.598
|
6.733 |
4.740
|
|
Total
Current Liabilities |
200.086
|
104.618 |
52.806 |
|
|
Net Current Assets |
45.512
|
46.840 |
4.491
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.136 |
0.159 |
|
|
|
|
|
|
|
|
TOTAL |
207.863 |
133.422 |
77.716 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
NA |
449.968 |
161.500 |
|
|
|
Other Income |
NA |
1.957 |
3.678 |
|
|
|
TOTAL |
NA |
451.925 |
165.178 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
NA |
417.698 |
153.501 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
417.698 |
153.501 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
NA |
34.227 |
11.677 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
NA |
3.906 |
3.204 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
NA |
30.321 |
8.473 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
5.111 |
5.632 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
NA |
25.210 |
2.841 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
588.448 |
412.242 |
139.430 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
NA |
12.81 |
1.44 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
5.58 |
1.72 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
6.74 |
5.25 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
12.75 |
6.50 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.64 |
0.38 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.52
|
3.83 |
4.66 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.23
|
1.45 |
1.09 |
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 |
Yes |
|
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 |
No |
|
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 |
Note:
The registered office of the company has been shifted from 210, A Wing, Kahara Business Centre, Behind Everest Garden Building, Laxmi Nagar, Ghatkopar (East), Mumbai 400 075, Maharashtra to the present address w.e.f. 19.09.2009.
Bankers Charges
Report as per Registry
|
Corporate identity
number (CIN) or foreign company registration
number of the company |
U24100MH2004PTC146928 |
|
Name of the
company |
TITAN
LABORATORIES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
102, Titan House, 60 Feet Road, M.P. Vidhya Marg, Ghatkopar (East),
Mumbai - 400 077, Maharashtra, India E-mail: info@titan.lab.com |
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
90351989 |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
Union Bank of India, Khand Bazar Branch, 109, Kazi Sayed Street, Khand Bazar, Mumbai - 400 003, Maharashtra, India |
|
Nature of
instrument creating charge |
Extension of
Equitable Mortgage |
|
Date of instrument
Creating the charge |
12.11.2011 |
|
Amount secured by
the charge |
Rs.67.377
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Together with interest
compound interest additional interest in case of default liquidated damages
commitment charges premia on repayment or redemption cost charges expenses
etc Terms of
Repayment Working Capital
facilities on Demand and Term Loan in installments as fixed by the Bank Margin As per sanction
terms Extent and
Operation of the charge To additionally
secure various revised credit facilities aggregating to Rs.67.377 Millions
granted by the Bank to the Company as under :- 1.FDBP/FUDBP (60-90
Days ) Rs.30.000 Millions W/W Packing Credit
of Rs.30.000 Millions W/W Imp/Inl L/C.
Rs.30.000 Millions W/W Buyers Credit Rs.30.000 Millions 2.AFDBC Rs. 2.500
Millions 3.CC Hyp
Rs.3.000.Millions 4 Term Loan Rs. 9.500 Millions 5. Term Loan FCTL
Rs.19.516 Millions 6. Term Loan
Crystalised FCTL Rs.2.509 Millions 7.Letter of
Guarantee Rs.0.352 Million Total aggregating
to Rs.67.377 Millions |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Extension of
Equitable Mortgage by Deposit of Title Deeds by Oral Consent in respect of
Company's Immovable Properties viz. A. All that Piece
or Parcel of land totally adm about 8768 Sq. Mtrs being 1.Plot No.E-27/1
admeasuring about 3723 Sq. Mtrs and 2. Plot No. E-27/2 admeasuring about 5045
Sq. Mtrs. situated in the Mahad Industrial Area within the Village limits of
the Jite and outside the limits of Mahad Municipal Council, Taluka and
Registration Sub-District Mahad, District and Registration District of Raigad
in the name of Titan Laboratories Private Limited bounded as follows On or
towards the North by Nalla and Strip On or towards the
South by Plot No.E-27/3 On or towards the
East by MIDC Road On or towards the
West by Nalla B. Unit No.310
admeasuring 404 Sq.ft (carpet) on the third floor A Wing of the Industrial
Estate known as Kanara Business Centre situate at Pant Nagar Ghatkopar (East)
Mumbai 400075 Village limit of Ghatkopar Kirol, Taluka Kurla CTS No.5365
Registration District of Mumbai Suburban in the name of Titan Laboratories
Private Limited |
|
Date of
instrument modifying the charge |
09.11.2010 |
|
Particulars of
the present modification |
Vide this
modification the charge amount enhanced from 60.350 Millions to 67.377 Millions
by addition of 7.027 Millions and secured against Extension of Equitable
Mortgage in respect of Company's Immovable Properties viz. A. All that Piece
or Parcel of land totally admeasuring about 8768 Sq.Mtrs being 1.Plot
No.E-27/1 and 2. Plot No. E-27/2
situated in the Mahad industrial Area B. Unit No.310
adm 404 Sq.ft (carpet) on the 3rd floor "A" wing of the Kanara
Business Centre . |
Fixed Assets:
· Land at Mahad
·
· Electrical Fitting – Mahad
· Electrical Fitting – Office
· Plant and Machinery
· Laboratory Equipments
· Factory Equipments
· Air Conditioner
· Compressor
· Refrigerator
· Furniture and Fixture – Mahad
· Furniture and Fixture – Office
· Office Premises
· Computer and Printers
· Water Purifier
· Air Conditioner – Titan House
· Water Purifier – Titan House
· Electrical Fitting – Titan House
· Furniture and Fixture – Titan House
· Office Equipments – Titan House
· Motor Car
WEBSITE DETAILS:
PROFILE:
Subject is
the one of select few Company in
Subject is a speciality Pharmaceutical company engaged in developing and manufacturing Sustained and Modified Release Pellets using Innovative Drug Delivery Technologies Utilizing some of best and latest processing machineries like Fluid Bed Processor with inherent built in rotary unit coupled with Top And Bottom Spray arrangement. This is essential to achieve uniformity and efficiency in layering and/ coating process which in turn will ensure in consistent release characteristics. Facility of Extruder and spheronizer is also available for effective pelletizing selectivity depending upon dose requirements of actives.
Their specialized product development needs are well service by In-house R and D facilities comprising of Formulation and Analytical competencies.
The CGMP led manufacturing facility is approved by Indian Drug Authorities, while they are in state of preparedness for impending customer triggered inspection from their foreign clients. These activities are ably supported by their QA and Regulatory set-up for country /customer specific needs.
The Company’s Drug Delivery System development thrust is based on following principles
v Off Patent Generics
v Custom development
v Process Patenting of Technologies
v Customized Release as per Pharmacokinetic profile
Salient Features of
Manufacturing Facility
v
Manufacturing
facilities designed to conform to EU and FDA cGMP regulations.
v
Three
manufacturing modules – one for high volume products; other 2 for low volume products.
v
Capsulation
section for Commercial Supply under P2P and Loan License .
v
Purified
water distribution Pipeline from GEORGE FISCHER Switzerland. PLC based
distribution system
v
Facilities
conform to class 100,000 requirements, up-gradable to class 10,000.
Business Model
v
Supply
of pellets and granules in bulk
v
Development
of formulation dossiers
v
Joint
venture from development to commercialization of products
v
Contract
manufacturing for pellets and
finished form (capsules)
v
Out
license manufacturing technology
Technical package is available for each product and DMF (CTD format) is ready for key products. They are interested in developing new products exclusively for customer specific needs and produce them on commercial scale.
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.53.26 |
|
|
1 |
Rs.86.23 |
|
Euro |
1 |
Rs.68.64 |
INFORMATION DETAILS
|
Report Prepared
by : |
VRN |
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 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
36 |
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.