MIRA INFORM REPORT
|
Report Date : |
11.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
HEALTHCAPS INDIA LIMITED (w.e.f. 29.05.2007) |
|
|
|
|
Formerly Known
As : |
CAPSUGEL INDIA LIMITED |
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Registered
Office : |
102 A, Ansal Classique Tower, J - Block, Community Centre, Rajouri
Garden, New Delhi - 110027 |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
06.12.1982 |
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Com. Reg. No.: |
55-014789 |
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Capital
Investment / Paid-up Capital : |
Rs.40.372 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L74899DL1982PLC014789 |
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|
IEC No.: |
Not Available |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACC5021C |
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|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacture of Empty Capsule. |
|
|
|
|
No. of Employees
: |
Not Available [We tried to
confirm the number of employees but no one is ready to part any information
from the company management] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 720000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Exits |
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Comments : |
Subject is an established company having satisfactory track record. Financial position of the company seems to be decent. Tarde relations are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. Note: Subject is Listed in Delhi Stock Exchange. |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating BBB- |
|
Rating Explanation |
Have moderate degree of safety and carry moderate credit risk. |
|
Date |
April 2, 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating A3 |
|
Rating Explanation |
Have moderate degree of safety and carry higher credit risk. |
|
Date |
April 2, 2014 |
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
31-03-2014.
INFORMATION DENIED BY
|
Name : |
Mr. Vikas Dhawan |
|
Designation : |
Account Manager |
|
Contact No.: |
91-1881-273641 |
|
Date : |
10.12.2014 |
LOCATIONS
|
Registered Office : |
102 A, Ansal Classique Tower, J-Block, Community Centre, Rajouri
Garden, New Delhi – 110027, India |
|
Tel. No.: |
91-11-25453061 |
|
Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Administrative
Office : |
SCO-1134-35, First Floor, Sector 22-B, |
|
Tel. No.: |
91-172-2706696 / 2708115 |
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Fax No.: |
91-1881-273304 |
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|
|
|
Factory : |
Fatehpur, P.O. Majra Jattan Tehsil: Balachaur, District:
Nawanshahr, |
|
Tel. No.: |
91-1881-273637 / 273641 / 273303 |
|
Fax No.: |
91-1881-273304 |
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E-Mail : |
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Sales Office: |
Kanara Business Centre, Laxmi Nagar Ghatkopar (East),
Mumbai, |
|
Tel. No.: |
91-22-67995416 |
|
Fax No.: |
91-22-67995417 |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Chiranjiv Singh |
|
Designation : |
Managing director |
|
Address : |
Sukhna Villa, Sukhna Enclave, Village Kansal, Nayagaon NAC, Kharar Mohali – 160103, Punjab, India |
|
Date of Birth/Age : |
25.08.1951 |
|
Date of Appointment : |
06.12.1982 |
|
DIN No.: |
01602672 |
|
PAN No.: |
ABHPS0363E |
|
|
|
|
Name : |
Hariti Singh |
|
Designation : |
Director |
|
Address : |
Sukhna Villa, Sukhna Enclave, Village Kansal, Nayagaon NAC, Kharar Mohali – 160103, Punjab, India |
|
Date of Birth/Age : |
20.04.1955 |
|
Date of Appointment : |
05.01.1997 |
|
DIN No.: |
01852205 |
|
PAN No.: |
ACCPS2763C |
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|
|
|
Name : |
Mr. Inderjit Singh Bindra |
|
Designation : |
Director |
|
Address : |
H No. 1017, Sector 27, Chandigarh – 160027, India |
|
Date of Birth/Age : |
22.12.1940 |
|
Date of Appointment : |
22.03.2003 |
|
DIN No.: |
02462314 |
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|
|
|
Name : |
Mr. Jagat Jit Singh |
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Designation : |
Director |
|
Address : |
H No. 2548, Sector 48, Chandigarh – 160044, India |
|
Date of Birth/Age : |
27.12.1965 |
|
Date of Appointment : |
27.01.2003 |
|
DIN No.: |
02505906 |
|
|
|
|
Name : |
Mr. Yogesh Goel |
|
Designation : |
Nominee director |
|
Address : |
H No. 663, Sector 02, Panchkula – 134017, Haryana, India |
|
Date of Birth/Age : |
08.06.1960 |
|
Date of Appointment : |
27.01.2003 |
|
DIN No.: |
00015387 |
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|
|
|
Name : |
Mr. Ajay Kumar Mahajan |
|
Designation : |
Director |
|
Address : |
H No. 113, Phase 3 B1, Mohali – 160070, Punjab, India |
|
Date of Birth/Age : |
08.06.1960 |
|
Date of Appointment : |
14.12.1993 |
|
DIN No.: |
00648889 |
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|
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|
Name : |
Mr. Gurcharn Singh |
|
Designation : |
Director |
|
Address : |
H No. 807, Sector 38, Chandigarh – 160036, India |
|
Date of Birth/Age : |
01.01.1936 |
|
Date of Appointment : |
08.02.2000 |
|
DIN No.: |
00651549 |
KEY EXECUTIVES
|
Name : |
Mr. Vikas Dhawan |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2014
|
Name
of Shareholders |
No.
of Shares |
%age |
|
Chiranjiv Singh |
2047128 |
51.00 |
|
Punjab State Industrial Development Corporation |
820000 |
20.00 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
%age |
|
Public financial
companies |
20.31 |
20.31 |
|
Directors or relatives of Directors |
54.24 |
54.24 |
|
Other top fifty shareholders |
1.00 |
1.00 |
|
Other |
24.45 |
24.45 |
|
Total |
100.00 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture of Empty Capsule. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS –
NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available [We tried to
confirm the number of employees but no one is ready to part any information
from the company management] |
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Bankers : |
State
Bank of India, SCO 103-106, Sector 17-B, Chandigarh - 160017, Chandigarh,
India |
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Facilities : |
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Auditors : |
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Name : |
Vasudeva and Associates Chartered Accountants |
|
Address : |
S.C.O. 32-35, Sector, 8-C, Madhya Marg, New Delhi - 110049, India |
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PAN
No. : |
AAHFV1127C |
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Memberships : |
-- |
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Collaborators : |
-- |
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Enterprises which
are owned, or have
significant influence of or are
partners with Key management personnel and their relatives: |
· Alfa Caps Private Limited, India [U24230CH2004PTC026978] · G.One Formulations Private Limited, India [U24297PB2011PTC035740] · Ozark Engineering Private Limited, India [U29190PB2011PTC035787] |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
|
|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4037190 |
Equity Shares |
Rs.10/- each |
Rs.40.372 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
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|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
40.372 |
40.372 |
40.372 |
|
(b) Reserves & Surplus |
210.339 |
166.680 |
125.221 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
250.711 |
207.052 |
165.593 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
30.530 |
26.936 |
34.369 |
|
(b) Deferred tax liabilities
(Net) |
31.547 |
28.581 |
25.971 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
16.005 |
13.980 |
10.723 |
|
Total
Non-current Liabilities (3) |
78.082 |
69.497 |
71.063 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
67.587 |
29.773 |
20.129 |
|
(b) Trade payables |
61.463 |
53.189 |
29.743 |
|
(c) Other current liabilities |
55.132 |
55.511 |
41.056 |
|
(d) Short-term provisions |
20.231 |
18.765 |
15.980 |
|
Total
Current Liabilities (4) |
204.413 |
157.238 |
106.908 |
|
|
|
|
|
|
TOTAL |
533.206 |
433.787 |
343.564 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
267.398 |
249.342 |
221.025 |
|
(ii) Intangible Assets |
0.762 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
2.793 |
1.922 |
2.381 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
12.617 |
7.458 |
4.869 |
|
(e) Other Non-current assets |
0.631 |
0.308 |
0.241 |
|
Total
Non-Current Assets |
284.201 |
259.030 |
228.516 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
62.684 |
46.646 |
24.839 |
|
(c) Trade receivables |
136.986 |
91.271 |
64.148 |
|
(d) Cash and cash equivalents |
26.392 |
11.300 |
7.757 |
|
(e) Short-term loans and
advances |
21.121 |
24.444 |
18.198 |
|
(f) Other current assets |
1.822 |
1.096 |
0.106 |
|
Total
Current Assets |
249.005 |
174.757 |
115.048 |
|
|
|
|
|
|
TOTAL |
533.206 |
433.787 |
343.564 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
571.167 |
452.796 |
353.233 |
|
|
Other Income |
1.538 |
1.006 |
0.881 |
|
|
TOTAL
(A) |
572.705 |
453.802 |
354.114 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
227.309 |
169.391 |
115.685 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(5.046) |
(13.605) |
(8.024) |
|
|
Employees benefits expense |
65.448 |
54.429 |
36.611 |
|
|
Other expenses |
187.484 |
152.651 |
129.029 |
|
|
Exceptional items |
0.000 |
0.132 |
(1.050) |
|
|
TOTAL
(B) |
475.195 |
362.998 |
272.251 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
97.510 |
90.804 |
81.863 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
11.367 |
10.657 |
15.523 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
86.143 |
80.147 |
66.340 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
21.395 |
18.190 |
15.247 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
64.748 |
61.957 |
51.093 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
21.090 |
20.498 |
16.250 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
43.658 |
41.459 |
34.843 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
10.81 |
10.27 |
8.63 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
7.64 |
9.16 |
9.86 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/ Sales) |
(%) |
17.07 |
20.05 |
23.18 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.21 |
14.35 |
14.98 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26 |
0.30 |
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.39 |
0.27 |
0.33 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.22 |
1.11 |
1.08 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
40.372 |
40.372 |
40.372 |
|
Reserves & Surplus |
125.221 |
166.680 |
210.339 |
|
Net
worth |
165.593 |
207.052 |
250.711 |
|
|
|
|
|
|
long-term borrowings |
34.369 |
26.936 |
30.530 |
|
Short term borrowings |
20.129 |
29.773 |
67.587 |
|
Total
borrowings |
54.498 |
56.709 |
98.117 |
|
Debt/Equity
ratio |
0.329 |
0.274 |
0.391 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
353.233 |
452.796 |
571.167 |
|
|
|
28.186 |
26.142 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
353.233 |
452.796 |
571.167 |
|
Profit |
34.843 |
41.459 |
43.658 |
|
|
9.86% |
9.16% |
7.64% |
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
Yes |
|
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 |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
LITIGATION DETAILS
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
Lodging No.:- CAL/536/2012 Filing
Date:- 23.08.2012 Reg. No.:- CA/475/2012 Reg.
Date:- 24.08.2012 |
|
Main
Matter Lodging No.:- CPL/151/2012 Reg
No.:- CP/192/2012 |
|
Petitioner: M/S.
WELLBERT PHARMACUTICALS Respondent:
HEALTHCAPS INDIA LIMITED Petn. Adv : RAMPRAKASH PANDEY District: MUMBAI |
|
Bench: SINGLE Status: Admitted (Unready)
Last Date: 15.01.2014 Stage: Company Petitions For Hearing / Arguments Last Coram: HON’BLE
SHRI JUSTIC G.S. PATEL |
|
Act: Companies Act & Rules 1956 |
NOTE: Registered office of the company has been
shifted from H 2, Third Floor, C Block, Community Centre, Nariman Vihar, New Delhi -
110028, India to the present address w.e.f.
31.10.2011
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Deposits from directors |
2.875 |
2.875 |
|
Intercorporate deposits |
3.000 |
3.000 |
|
Other loans and advances, others |
12.832 |
0.000 |
|
Total |
18.707 |
5.875 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10000452 |
22/02/2014 * |
207,200,000.00 |
STATE BANK OF INDIA |
SCO 103-106, SECTOR
17-B, CHANDIGARH, CHANDIGARH |
C00441287 |
|
2 |
90056375 |
19/04/1994 |
700,000.00 |
DIRECTOR OF INDUSTRIES |
GOVT. OF PUNJAB; 30- BAYS BUILDING, SECTOR 17, CHANDIGARH, CHANDIGARH, INDIA |
- |
|
3 |
90056373 |
30/03/1994 |
667,000.00 |
DIRECTOR OF INDUSTRIES |
GOVT. OF PUNJAB; 30- BAYS BUILDING, SECTOR 17, CHANDIGARH, CHANDIGARH, INDIA |
- |
|
4 |
90056358 |
14/01/1994 |
347,000.00 |
DIRECTOR OF INDUSTRIES |
GOVT. OF PUNJAB; 30- BAYS BUILDING, SECTOR - 17, CHANDIGARH, CHANDIGARH, INDIA |
- |
* Date of charge modification
FIXED ASSETS
Tangible assets
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipments
· Other equipments
Intangible assets
· Computer software
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 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.61.95 |
|
|
1 |
Rs.97.16 |
|
Euro |
1 |
Rs.76.75 |
INFORMATION DETAILS
|
Information Gathered
by : |
NYA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
-- PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.