MIRA
INFORM REPORT
|
Report Date : |
24.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
EUPHORIA HEALTH CARE PRIVATE LIMITED |
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Registered
Office : |
Unit No. 3, Empress
Nucleus, 3rd Floor, Azad Road, Off Andheri-Kurla Road, Gundavalli,
Behind Vishal Hall, Andheri [East], Mumbai – 400069, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
08.08.2003 |
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Com. Reg. No.: |
11-141675 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.300 Million |
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CIN No.: [Company Identification
No.] |
U51397MH2003PTC141675 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Exporter, Supplier and Trader of Pharmaceutical Formulation,
Pharmaceutical Drug, Medicine, Capsule, Ointment, Pharmaceutical Capsule,
Cough Syrup. |
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No. of Employees
: |
12 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 13700 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. The management of the company failed to file its financial with the government
department after 2011. The profit and loss statement of 2011 is not available. Mr. Sunil, Accountant has provided general information but denied to
disclose any financial details to us. As per available financials, the financial position of the company
appeared average. However, trade relations are 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
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 |
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.
INFORMATION PARTED BY [GENERAL DETAILS]
|
Name : |
Mr. Sunil |
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Designation : |
Accountant |
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Contact No.: |
91-22-26842003 |
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Date : |
22.06.2013 |
LOCATIONS
|
Registered Office : |
Unit No. 3, Empress
Nucleus, 3rd Floor, Azad Road, Off Andheri-Kurla Road, Gundavalli,
Behind Vishal Hall, Andheri [East], Mumbai – 400069, Maharashtra, India |
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Tel. No.: |
91-22-26842003 |
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Mobile No.: |
91-9820044307 [Mr. Bhavesh Shah] |
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Fax No.: |
91-22-26842004 |
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E-Mail : |
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Website : |
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Location : |
Owned |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Bhavesh Jayantilal Shah |
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Designation : |
Director |
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Address : |
155 B, 81 Ambika Apartment, Jawahar Nagar, Goregaon (West), Mumbai –
400062, Maharashtra, India |
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Date of Birth/Age : |
17.08.1975 |
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Date of Appointment : |
08.08.2003 |
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DIN No.: |
00802098 |
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Other Directorship :
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Name : |
Mr. Krishna Choudhary |
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Designation : |
Director |
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Date of Appointment : |
08.08.2003 |
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KEY EXECUTIVES
|
Name : |
Mr. Sunil |
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Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Bhavesh Jayantilal Shah |
|
2400 |
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Rajesh Jayantilal Shah |
|
600 |
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Total |
|
3000 |
AS ON 30.09.2011
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Equity Share Breakup |
|
Percentage of Holding |
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Category |
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Directors
or relatives of directors |
|
100.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Exporter, Supplier and Trader of Pharmaceutical Formulation, Pharmaceutical
Drug, Medicine, Capsule, Ointment, Pharmaceutical Capsule, Cough Syrup. |
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Exports : |
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Products : |
Pharmaceutical
Formulation Pharmaceutical
Drug Medicine Capsule Ointment Pharmaceutical
Capsule Cough Syrup |
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Countries : |
South America |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
12 (Approximately) |
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Bankers : |
Vijaya Bank, Andheri
(East), Mumbai – 400069, Maharashtra, India [Tel No.: 91-22-26240502] ICICI Bank Limited, Marine Line Branch, Mumbai, Maharashtra, India Kotak Mahindra Bank Limited, 36-38A,
Nariman Bhavan, 227 D, Nariman
Point, Mumbai – 400021,
Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Yogesh Shah and Company Chartered Accountants |
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Address : |
601- A Wing, Sunil Heights, S. V. Road, Dahishar [East], Mumbai – 400068,
Maharashtra, India |
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Tel. No.: |
91-22–28488023 |
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Mobile No.: |
91-9820635651 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
AACPS7390B |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
3,000 |
Equity Shares |
Rs. 100/- each |
Rs. 0.300 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
3,000 |
Equity Shares |
Rs. 100/- each |
Rs. 0.300 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 |
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SHAREHOLDERS FUNDS |
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|
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1] Share Capital |
0.300 |
0.300 |
0.300 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
3.125 |
2.126 |
1.054 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
3.425 |
2.426 |
1.354 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
2.376 |
4.375 |
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2] Unsecured Loans |
4.593 |
0.968 |
0.457 |
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TOTAL BORROWING |
4.593 |
3.344 |
4.832 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
8.018 |
5.770 |
6.186 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.126 |
0.078 |
0.101 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
1.342 |
1.100 |
0.825 |
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DEFERRED TAX ASSETS |
0.019 |
0.008 |
0.041 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
10.585
|
8.314 |
6.746 |
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Sundry Debtors |
21.759
|
25.354 |
3.526 |
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Cash & Bank Balances |
0.688
|
0.515 |
0.028 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
14.715
|
10.267 |
10.757 |
|
Total
Current Assets |
47.747
|
44.450 |
21.057 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
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Other Current Liabilities |
39.364
|
38.805 |
14.904 |
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Provisions |
1.854
|
1.064 |
0.938 |
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Total
Current Liabilities |
41.218
|
39.869 |
15.842 |
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Net Current Assets |
6.529
|
4.581 |
5.215 |
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MISCELLANEOUS EXPENSES |
0.002 |
0.003 |
0.004 |
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TOTAL |
8.018 |
5.770 |
6.186 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
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Other Income |
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TOTAL |
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NA |
NA |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
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NA |
NA |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
1.593 |
0.974 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
|
0.023 |
0.028 |
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PROFIT BEFORE
TAX |
|
1.570 |
0.946 |
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Less |
TAX |
|
0.498 |
0.278 |
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PROFIT AFTER TAX
|
|
1.072 |
0.668 |
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Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
|
1.054 |
0.386 |
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BALANCE CARRIED
TO THE B/S |
|
2.126 |
1.054 |
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|
Earnings Per
Share (Rs.) |
|
357.33 |
222.67 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
3.53 |
4.47 |
|
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Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.65 |
0.70 |
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|
Debt Equity Ratio (Total Debt/Networth) |
|
1.34
|
1.38 |
3.57 |
|
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|
Current Ratio (Current Asset/Current Liability) |
|
1.16
|
1.11 |
1.33 |
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
No |
|
12] |
Profitability for last
two 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) |
Yes |
|
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 |
UNSECURED LOANS
|
Unsecured Loans |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
|
|
|
|
|
|
Unsecured Loans |
4.593 |
0.968 |
|
Total |
4.593 |
0.968 |
Note:
The registered office of the company has been shifted from Room No. 15,
Mansarovar Building, 1st Floor, 24, S N Road, Andheri (East), Mumbai
– 400069, Maharashtra, India to the present w.e.f.01.06.2013
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U51397MH2003PTC141675 |
|
Name of the
company |
EUPHORIA HEALTH
CARE PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Room No. 15,
Mansarovar Building, 1st Floor, 24, S. N. Road, Andheri [East], Mumbai – 400069,
Maharashtra, India Email: euphorianss@yahoo.com |
|
This form is for |
Modification of charge |
|
Charge
identification number of the modified |
10357992 |
|
Type of charge |
Book debts Movable property (not being pledge) Others [Current Assets/Moveable Fixed Assets] |
|
Particular of
charge holder |
Kotak Mahindra
Bank Limited, 36-38A, Nariman Bhavan, 227 D, Nariman Point, Mumbai
– 400021, Maharashtra, India Email: sandeep.tattu@kotak.com |
|
Nature of
description of the instrument creating or modifying the charge |
Supplementary
Deed of Hypothecation. |
|
Date of
instrument Creating the charge |
03.04.2013 |
|
Amount secured by
the charge |
Rs. 9.500
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest OD - Floating
over the tenure of the facility. Terms of Repayment As may be
specified by the bank from time to time. Margin Nil Extent and Operation of the charge First and
exclusive charge by way of Hypothecation of Current assets/Movable fixed
assets present and future of the Borrower, in favour of Kotak Mahindra bank
as security for repayment of financial facilities granted by the Bank to the
Borrower. |
|
Short particulars
of the property charged |
The whole of
Borrower's Current assets/Movable fixed assets both present and future as
described in Schedule to the Supplementary Deed of Hypothecation. |
|
Particulars of the
present modification |
Bank had granted
OD facility of Rs.8.500 Millions to the Borrower which was secured by way of
Hypothecation on Current assets and Moveable Fixed Assets of the Company on
14.05.2012.Now bank has Enhance OD facility from Rs.8.500 Millions to
Rs.9.500 Millions and said charge is modified and extended to the enhance
total facility of Rs.9.500 Millions. |
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. 59.35 |
|
|
1 |
Rs. 92.11 |
|
Euro |
1 |
Rs. 78.59 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLV |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.