|
Report Date : |
16.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
ESKAY IODINE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
3-A, Shivnagar Estate, North Wing, Dr. Annie Besant Road, Worli,
Mumbai – 400018, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
13.09.2011 |
|
|
|
|
Com. Reg. No.: |
11-221911 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 40.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24100MH2011PTC221911 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Exporter, Distributor and Manufacturer of Bulk Drugs,
Chemicals and Pharmaceutical formulations. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 799000 |
|
|
|
|
Status : |
Yet to commence commercial production |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Ms. Roshan, from the Accounts Department has confirmed that even
though the subject was incorporated during the September 2011, it is yet to
commence its commercial production. The management expects that the company will start functioning within
a period of three months. The networth of the company appears to be sound and healthy. Directors
are well-experienced people. 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) |
|
|
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
|
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/ Corporate Office : |
3-A, Shivnagar Estate, North Wing, Dr. Annie Besant Road, Worli,
Mumbai – 400018, Maharashtra, India |
|
Tel. No.: |
91-22-66227575 |
|
Fax No.: |
91-22-66227600/ 66227500 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Plot No. 907/2, Jhagadia GIDC Estate, Jhagadia – 393110, Gujarat,
India |
DIRECTORS
AS ON 28.09.2012
|
Name : |
Mr. Bipin Nemchand Shah |
|
Designation : |
Director |
|
Address : |
1801, Dev Darshan, 50 Ridge Road, Teen Batti, Mumbai – 400006, Maharashtra,
India |
|
Date of Birth/Age : |
07.03.1949 |
|
Date of Appointment : |
19.10.2011 |
|
DIN No.: |
00083244 |
|
|
|
|
Name : |
Mr. Ketan Lalit Shah |
|
Designation : |
Director |
|
Address : |
B2/2, Amalfi, 27 B, L.D. Ruparel Marg, Malabar Hill, Mumbai – 400006,
Maharashtra, India |
|
Date of Birth/Age : |
26.05.1971 |
|
Date of Appointment : |
13.09.2011 |
|
DIN No.: |
00083326 |
|
|
|
|
Name : |
Mr. Samir Jayantilal Shah |
|
Designation : |
Director |
|
Address : |
3-B, Suvas Apartment, Rungta Lane, 68 F, Nepeansea Road, Mumbai –
400006, Maharashtra, India |
|
Date of Birth/Age : |
22.10.1966 |
|
Date of Appointment : |
19.10.2011 |
|
DIN No.: |
00157396 |
|
|
|
|
Name : |
Mr. Lalit Popatlal Shah |
|
Designation : |
Director |
|
Address : |
B2/2, Amalfi, 27 B, L.D. Ruparel Marg, Malabar Hill, Mumbai – 400006,
Maharashtra, India |
|
Date of Birth/Age : |
02.10.1936 |
|
Date of Appointment : |
13.09.2011 |
|
DIN No.: |
00396345 |
KEY EXECUTIVES
|
Name : |
Ms. Roshan |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
S. Kant Pharma Private Limited, India |
|
1999990 |
|
Plum Investment Limited Company, Mauritius |
|
2000000 |
|
Ketan Lalit Shah |
|
10 |
|
|
|
|
|
Total |
|
4000000 |
AS ON 28.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
50.00 |
|
Bodies
corporate |
|
50.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Exporter, Distributor and Manufacturer of Bulk Drugs,
Chemicals and Pharmaceutical formulations. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
HDFC Bank Limited,
HDFC Bank House, Senapati Bapat Marg, Lower Parel [West], Mumbai - 400013,
Maharashtra, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Chokshi and Chokshi Chartered Accountants |
|
Address : |
15/17, Raghavji 'B' Building, Ground Floor, Raghavji Road,
Gowalia Tank, Off Kemps Corner, Mumbai – 400036, Maharashtra, India |
|
Tel. No.: |
91-22-23836900 |
|
Fax No.: |
91-22-23836901 |
|
E-Mail : |
|
|
Website : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFC2633B |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 40.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 40.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2012 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
40.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
159.749 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
199.749 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
199.749 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
24.453 |
|
|
Capital work-in-progress |
|
|
6.827 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
162.500 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
0.000 |
|
|
Cash & Bank Balances |
|
|
4.193 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
2.387 |
|
Total
Current Assets |
|
|
6.580 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
0.161 |
|
|
Other Current Liabilities |
|
|
0.450 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
0.611 |
|
|
Net Current Assets |
|
|
5.969 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
199.749 |
|
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2012 |
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
|
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
10.77 |
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 |
No |
|
12] |
Profitability for last
three years |
No |
|
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 |
No |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
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 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U24100MH2011PTC221911 |
|
Name of the
company |
ESKAY IODINE
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
3-A, Shivnagar Estate, North Wing, Dr. Annie Besant Road, Worli,
Mumbai – 400018, Maharashtra, India Email: roc@chokshigroup.com |
|
This form is for |
Creation of charge |
|
Type of charge |
Book debts Movable property (not being pledge) Floating charge |
|
Particular of
charge holder |
HDFC Bank
Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel [West], Mumbai - 400013,
Maharashtra, India Email: parag.dave@hdfcbank.com CIN No.:
L65920MH1994PLC080618 |
|
Nature of
description of the instrument creating or modifying the charge |
Exclusive charge on
Letter of Hypothecation of Stocks, Book Debts and Machinery dated 15.01.2013 |
|
Date of
instrument Creating the charge |
15.01.2013 |
|
Amount secured by
the charge |
Rs. 450.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 3.50% above Base
Rate, presently 13.2% with monthly rests payable on first day of subsequent
month / maturity Terms of Repayment On Demand Margin 25% on Inventory excluding
obsolete stock and 25% on Debtors excluding debtors more than 90 days Extent and Operation of the charge Security and
charge hereby created shall be by way of Exclusive charge on all the said
hypothecated assets for due payment as provided in the deed including the
principal sums, interest, costs charges and expenses due owing and payable by
the Borrower to the Bank relating to the said facility agreed to be granted
and/or granted by the Bank to the borrower. |
|
Short particulars
of the property charged |
Exclusive Charge
on Company's Stock and book debts and other current assets of the Company
both present and future Exclusive Charge
on Company's movable Fixed Assets of the Company both present and future |
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 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. 54.16 |
|
|
1 |
Rs. 81.74 |
|
Euro |
1 |
Rs. 70.50 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
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 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
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.