MIRA INFORM REPORT
|
Report Date : |
23.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
MEDICHEM LIFE SCIENCES PRIVATE LIMITED |
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Registered
Office : |
E/86, Tarapur, MIDC, District Thane – 401506, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
06.09.2007 |
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Com. Reg. No.: |
11-173846 |
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Capital
Investment / Paid-up Capital : |
Rs.4.385 Millions |
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CIN No.: [Company Identification
No.] |
U24232MH2007PTC173846 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM34139A |
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PAN No.: [Permanent Account No.] |
AAFCM2318H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trading in Bulk Drugs and Intermediates. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
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MIRA’s Rating : |
B (28) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having moderate track record. The company has failed to file its financial record with government
department for the year 2013 and 2014. As per previous financial record of 2012, the rating is constrained on
account of company’s moderate operational risk profile and low profitability
margins of the company. However, trade relations are fair. Business is active. Payments are
reported to be unknown. The company can be considered for business dealing 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
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Rating |
Not Available |
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Rating Explanation |
Not Available |
|
Date |
Not Available |
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 DECLINED
MANAGEMENT NON – COOPERATIVE (91-22-28473051)
LOCATIONS
|
Registered Office / Factory : |
E/86, Tarapur, MIDC, District Thane – 401506, |
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Tel. No.: |
91- 22-24475594 / 28475060 |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Corporate Office : |
N Wing Office No.3 26-A, Chandivali, Off |
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Godown : |
Pooja Complex, Godown No.20, Opposite Batra Petrol Pump,
Purna Village, Bhiwandi, District Thane – 421302, Maharashtra, India |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Dilipkumar Kundanmal Sakaria |
|
Designation : |
Director |
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Address : |
11, Anand Building, Sitladevi Temple Road, Mahim, Mumbai – 400016, Maharashtra, India |
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Date of Birth/Age : |
30.07.1972 |
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Date of Appointment : |
06.09.2007 |
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DIN No.: |
00011250 |
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Name : |
Mr. Dhavesh Chandraprakash Lodha |
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Designation : |
Director |
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Date of Birth/Age : |
13.06.1987 |
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Date of Appointment : |
01.09.2012 |
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DIN No.: |
06369166 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Dilip Sakaria |
438000 |
99.89 |
|
Usman Sharif |
500 |
0.11 |
|
Total |
438500 |
100.00 |
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trading in Bulk Drugs and Intermediates. |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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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 : |
Information declined by the management
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Bankers : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S. D. Jain and Company Chartered Accountants |
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Address : |
7/8,Anjalika Sadan, 1st Floor, S.T. Road, Mahim, Mumbai - 400016, Maharashtra, India |
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PAN.: |
AABPJ2225R |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
NIL |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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 |
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|
438500 |
Equity Shares |
Rs.10/- each |
Rs.4.385
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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|
SHAREHOLDERS FUNDS |
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|
|
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1] Share Capital |
4.385 |
4.385 |
4.385 |
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2] Share Application Money |
46.785 |
0.000 |
0.000 |
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3] Reserves & Surplus |
24.940 |
21.647 |
16.341 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
76.110 |
26.032 |
20.726 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
158.337 |
92.088 |
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TOTAL BORROWING |
0.000 |
158.337 |
92.088 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
76.110 |
184.369 |
112.814 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
118.857 |
116.647 |
19.447 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
39.595 |
0.095 |
0.095 |
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DEFERREX TAX ASSETS |
0.022 |
0.129 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
8.016
|
10.001 |
16.681 |
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Sundry Debtors |
64.048
|
207.207 |
155.885 |
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Cash & Bank Balances |
3.167
|
21.946 |
4.291 |
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Other Current Assets |
6.306
|
7.809 |
1.080 |
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Loans & Advances |
150.122
|
73.215 |
183.000 |
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Total
Current Assets |
231.659
|
320.178 |
360.937 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
130.188
|
227.650 |
51.055 |
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Other Current Liabilities |
180.882
|
19.908 |
214.308 |
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Provisions |
2.953
|
5.122 |
2.737 |
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Total
Current Liabilities |
314.023
|
252.680 |
268.100 |
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Net Current Assets |
(82.364)
|
67.498 |
92.837 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.435 |
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TOTAL |
76.110 |
184.369 |
112.814 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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SALES |
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Income |
|
562.145 |
392.389 |
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Other Income |
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|
0.000 |
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TOTAL (A) |
434.604 |
562.145 |
392.389 |
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Less |
EXPENSES |
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Raw Material Purchased |
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|
378.023 |
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Direct Expenses |
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|
0.131 |
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Administrative and Selling Expenses |
426.483 |
553.569 |
2.929 |
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Preliminary Expenses Written Off |
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|
0.049 |
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TOTAL (B) |
426.483 |
553.569 |
381.132 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
8.121 |
8.576 |
11.257 |
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Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
4.310 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
8.121 |
8.576 |
6.947 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.298 |
0.974 |
0.111 |
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PROFIT BEFORE
TAX (E-F) (G) |
4.823 |
7.602 |
6.836 |
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Less |
TAX (H) |
1.530 |
2.295 |
2.236 |
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PROFIT AFTER TAX
(G-H) (I) |
3.293 |
5.307 |
4.600 |
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Add |
DEFERRED TAX
LIABILITY |
0.000 |
0.000 |
0.030 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
10.935 |
5.628 |
0.998 |
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BALANCE CARRIED
TO THE B/S |
14.228 |
10.935 |
5.628 |
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Earnings Per
Share (Rs.) |
7.58 |
11.70 |
NA |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Net Profit Margin |
(%) |
NA
|
NA |
1.74 |
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Operating Profit Margin |
(%) |
NA
|
NA |
2.87 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
1.38
|
1.74 |
1.80 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.29 |
0.33 |
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Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
6.08 |
4.44 |
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Current Ratio (Current Asset/Current Liability) |
|
0.74
|
1.27 |
1.35 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
4.385 |
4.385 |
4.385 |
|
Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
Net
worth |
4.385 |
4.385 |
4.385 |
|
|
|
|
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|
Secured Loans |
0.000 |
0.000 |
0.000 |
|
Unsecured Loans |
92.088 |
158.337 |
0.000 |
|
Total
borrowings |
92.088 |
158.337 |
0.000 |
|
Debt/Equity
ratio |
21.001 |
36.109 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
92.389 |
562.145 |
434.604 |
|
|
|
508.454 |
(22.688) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
92.389 |
562.145 |
434.604 |
|
Profit |
4.600 |
5.307 |
3.293 |
|
|
4.98% |
0.94% |
0.76% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS: NOT AVAILABLE
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
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 |
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 |
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 |
LITIGATION DETAILS
CASE DETAILS
BENCH:-BOMBAY
|
Presentation Date:- |
15/02/2014 |
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||||||
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||||||||
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Lodging
No.:- |
CAL/84/2014 |
Filing
Date:- |
15/02/2014 |
Reg. No.:- |
CA/124/2014 |
Reg.
Date:- |
15/03/2014 |
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|
|
Main Matter |
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|
Lodging
No.:- |
CPL/592/2013 |
Reg No.:- |
CP/576/2013 |
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Petitioner:- |
NKGSB CO-OPERATIVE BANK LTD. |
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Respondent:- |
M/S. MEDICHEM LIFE SCIENCE PVT LTD. |
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NOTE:
The registered of address of the company has been shifted from Premises No.2, 150 Rohira House Co-Op Hsg Soc. Limited, Veer Savarkar Marg, Mahim, Mumbai 400016, Maharashtra, India to present address w.e.f. 01.02.2011
BUSINESS OPERATION
The company was incorporated on 6Th September, 2007. In its Fifth year of its operations, the company has achieved a total turnover of Rs. 434.604 Millions (Previous Year Rs. 562.145 Millions) during the financial year ended on 31st March, 2012 and net profit of Rs. 3.293 Millions (previous year Rs. 5.307 Millions). The company is expecting much more of the business operations and the profit in the years to come.
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
|
|
|
|
From Banks and F I Institutions |
0.000 |
89.778 |
|
Form Body Cooperates |
0.000 |
68.558 |
|
Total |
0.000 |
158.336 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10434877 |
27/06/2013 |
320,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B78757846 |
|
2 |
10410356 |
14/01/2013 |
121,500,000.00 |
STATE BANK OF HYDERABAD |
OVERSEAS BRANCH,1204, ASHOK MAHAL, TULLOCH ROAD, COLABA, MUMBAI, MAHARASHTRA - 400039, INDIA |
B70280763 |
|
3 |
10430524 |
22/11/2012 |
70,000,000.00 |
THE KAPOL CO-OPERATIVE BANK LIMITED |
107/108, D,
SHYAMKAMAL BLDG,, NEAR AGARWAL MARKET, VILE PARLE EAST, MUMBAI, MAHARASHTRA - 400057, |
B68917194 |
FIXED ASSETS
- Computer
- Office Equipment
- Car
- Land
- Furniture and Fixtures
- Office premises
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.63.18 |
|
|
1 |
Rs.98.85 |
|
Euro |
1 |
Rs.77.42 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
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 |
YES |
|
--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 |
|
DEFAULTER
|
|
|
|
--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.