MIRA
INFORM REPORT
PRELIMINARY REPORT
|
Report Date : |
04.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
MSN LABORATORIES PRIVATE LIMITED (w.e.f.27.02.2013) |
|
|
|
|
Formerly Known
As : |
MSN LABORATORIES LIMITED |
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Registered
Office : |
MSN House, Plot No. C-24, Sanath Nagar Industrial Estate, Sanath
Nagar, |
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|
Country : |
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Financials (as
on) : |
31.03.2013 |
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|
|
|
Date of
Incorporation : |
27.08.2003 |
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|
|
|
Com. Reg. No.: |
01-041583 |
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|
|
Capital
Investment / Paid-up Capital : |
Rs.52.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24239TG2003PTC041583 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDM02459C |
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|
|
PAN No.: [Permanent Account No.] |
AADCM6283F |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing of Bulk Actives and Chemicals. |
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|
No. of Employees
: |
1474 (Approximately) |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
SME 1 |
|
Rating Explanation |
Highest credit quality with negligible
credit risk. |
|
Date |
28.11.2013 |
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 DECLINED BY
|
Name : |
Mr. Mandan |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-40-30438600 |
|
Date : |
28.05.2014 |
LOCATIONS
|
Registered/ Corporate Office : |
MSN House, Plot No. C 24, Sanath Nagar Industrial Estate, Sanath
Nagar, Hyderabad – 500018, Andhra Pradesh, India |
|
Tel. No.: |
91-40-30438600 |
|
Fax No.: |
91-40-30438638/ 30438719 |
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E-Mail : |
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|
Website : |
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|
|
API FACILITIES |
|
|
API Unit 1 : |
Sy No 317 and 323, Rudraram (Village), Patancheru Mandal, District Medak - 502329, Andhra Pradesh, India |
|
Tel. No.: |
91-8455-220372/ 373/ 305600 |
|
Fax No.: |
91-8455-220415 |
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E-Mail : |
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|
API Unit 2 : |
Sy. No.50, Kardanur (V), Patancheru (M), District Medak – 502300, Andhra Pradesh, India |
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Tel. No.: |
91-8458-331200 |
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|
FINISHED DOSAGE
FACILITIES |
|
|
Formulation
Division Unit-1 : |
Plot No. 42, Anrich Industrial Estate, Bollaram (V), District Medak - 502325, Andhra Pradesh, India |
|
Tel. No.: |
91-8458-304950 |
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Fax No.: |
91-8458-279938 |
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E-Mail : |
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Formulation
Division Unit-2 : |
Survey Nos.1277 and 1319 to 1324, Nandigama (V), Kothur (M), District Mahabub Nagar - 509216, Andhra Pradesh, India |
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|
|
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R&D Center : |
Plot No- 12, Industrial Park, Phase-IV, Pashamylaram (V), Patancheru (M), District Medak - 502307, Andhra Pradesh, India |
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Tel. No.: |
91-8452-304700 |
|
Fax No.: |
91-8452-304701 |
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|
|
|
US Office : |
MSN
Pharmaceuticals, Inc. 343 Thornall Street, Suite 678, Edison, NJ 08837 |
|
Tel. No.: |
908-307-4022 |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Manne Satyanarayana Reddy |
|
Designation : |
Managing director |
|
Address : |
H. No. 8-3-167/D/16, Kalyan Nagar, Phase-1, Near A.G. Colony,
Hyderabad – 500038, Andhra Pradesh, India |
|
Date of Birth/Age : |
18.04.1957 |
|
Qualification : |
M.Sc. Ph. D |
|
Experience : |
25 Years |
|
Date of Appointment : |
27.08.2003 |
|
PAN No.: |
ADYPM2116L |
|
DIN No.: |
01657567 |
|
|
|
|
Name : |
Manne Laxmi Prasuna |
|
Designation : |
Director |
|
Address : |
H. No. 8-3-167/D/16, Kalyan Nagar, Phase-1, Near A.G. Colony,
Hyderabad – 500038, Andhra Pradesh, India |
|
Date of Appointment : |
27.08.2003 |
|
PAN No.: |
AOJPM1556Q |
|
DIN No.: |
00954334 |
|
|
|
|
Name : |
Chintapally Bharat Reddy |
|
Designation : |
Director |
|
Address : |
H. No. 8-3-167/D/16, Kalyan Nagar, Phase-1, Near A.G. Colony,
Hyderabad – 500038, Andhra Pradesh, India |
|
Date of Birth/Age : |
30.06.1969 |
|
Qualification : |
MS., MBA |
|
Experience : |
18 Years |
|
Date of Appointment : |
01.02.2007 |
|
PAN No.: |
AGQPC2221B |
|
DIN No.: |
01591473 |
KEY EXECUTIVES
|
Name : |
Mr. Mandan |
|
Designation : |
Accounts Manager |
|
|
|
|
Name : |
K S Krishna Reddy |
|
Designation : |
Director Marketing |
|
Date of Birth/Age : |
56 Years |
|
Qualification : |
B.Com |
|
Experience : |
31 Years |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Manne Satyanarayana Reddy |
|
2526800 |
|
Manne Laxmi Prasuna |
|
427800 |
|
Manne Venkat Ram Reddy |
|
120000 |
|
Thatikonda Seetha |
|
1000 |
|
Thatikonda Srinivas |
|
1000 |
|
Chintapally Anjani |
|
1000 |
|
Chintapally Janardhan Reddy |
|
132000 |
|
Manne Venkat Pratap Reddy |
|
124000 |
|
Manne Jeevan Reddy |
|
120000 |
|
Manne Srinivasa Reddy |
|
120000 |
|
Manne Nirmala Devi |
|
66000 |
|
Manne Geetha |
|
55000 |
|
Thatikonda Sreedhar Reddy |
|
1000 |
|
Srinivasan Tirumalarajan |
|
72000 |
|
Sajja Eswaraiah |
|
72000 |
|
Challa N.V. Ravi Kumar |
|
72000 |
|
Muppa Kishore Kumar |
|
72000 |
|
Chintapally Bharat Reddy |
|
700000 |
|
Manne Madhavi |
|
1200 |
|
Thatikonda Varalakshmamma |
|
1000 |
|
Chintapally Vasudha |
|
1000 |
|
Thatikonda Raja Reddy |
|
1000 |
|
Manne Swathi |
|
1200 |
|
Chakilam Nagaraju |
|
456000 |
|
Manne Shrawya Reddy |
|
55000 |
|
|
|
|
|
Total |
|
5200000 |
AS ON 30.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
82.22 |
|
Other
top fifty shareholders |
17.78 |
|
|
|
|
Total |
100.00 |
%2004-Sep-2014_files/image002.gif)
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Bulk Actives and Chemicals. |
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Products/ Services : |
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GENERAL INFORMATION
|
No. of Employees : |
1474 (Approximately) |
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Bankers : |
· ICICI Bank Limited Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India · Axis Bank Limited Credit Management Centre, 5-2-183/184, IIIrd Floor, R RP
Road, Secunderabad - 500003, Andhra Pradesh, India |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institution : |
· 3i Infotech Trusteeship Services Limited 3rd to 6th floor, International Infotech Park, Tower No.5,
Vashi Railway Station Complex, Vashi, Navi Mumbai - 400703, Maharashtra,
India |
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|
|
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Auditors : |
|
|
Name : |
B.R.M. Reddy and Company Chartered Accountants |
|
Address : |
6-3-1186/A/6, II Floor, Lane adj. to ITC Kakatiya, Begumpet
– 500016, Andhra Pradesh, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AADFB7698A |
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|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
· Maithri Laboratories Private Limited [U24239AP2002PTC038674] MSN Organics Private Limited [U24110AP2006PTC051858] MSN Pharmachem Private Limited [U24239AP2004PTC044631] MSN Research and Development Private Limited
[U73100AP2008PTC058892] |
CAPITAL STRUCTURE
(AS ON 30.09.2013)
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs. 10/- each |
Rs.100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5200000 |
Equity Shares |
Rs. 10/- each |
Rs.52.000
Millions |
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|
|
|
FINANCIAL
DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
52.000 |
52.000 |
52.000 |
|
(b) Reserves & Surplus |
3687.922 |
2003.685 |
1060.709 |
|
(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) |
3739.922 |
2055.685 |
1112.709 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
176.452 |
7.709 |
9.818 |
|
(b) Deferred tax liabilities (Net) |
156.423 |
114.380 |
73.459 |
|
(c) Other long
term liabilities |
8.200 |
9.259 |
8.159 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
341.075 |
131.348 |
91.436 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
582.889 |
460.523 |
348.773 |
|
(b)
Trade payables |
747.253 |
1153.671 |
1304.241 |
|
(c)
Other current liabilities |
265.911 |
85.901 |
121.887 |
|
(d) Short-term
provisions |
0.269 |
24.513 |
75.199 |
|
Total Current
Liabilities (4) |
1596.322 |
1724.608 |
1850.100 |
|
|
|
|
|
|
TOTAL |
5677.319 |
3911.641 |
3054.245 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1394.175 |
1168.546 |
881.833 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
632.526 |
386.248 |
93.127 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
10.073 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
187.716 |
175.787 |
404.246 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
2224.490 |
1730.581 |
1379.206 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
898.572 |
684.159 |
401.052 |
|
(c)
Trade receivables |
1986.745 |
1199.718 |
1079.477 |
|
(d) Cash
and cash equivalents |
320.492 |
66.417 |
30.286 |
|
(e)
Short-term loans and advances |
247.020 |
230.766 |
164.224 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
3452.829 |
2181.060 |
1675.039 |
|
|
|
|
|
|
TOTAL |
5677.319 |
3911.641 |
3054.245 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
6170.606 |
3896.458 |
3136.348 |
|
|
|
Other Income |
82.332 |
53.337 |
20.650 |
|
|
|
TOTAL (A) |
6252.938 |
3949.795 |
3156.998 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
3626.969 |
2486.517 |
2247.183 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2625.969 |
1463.278 |
909.815 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
72.412 |
48.850 |
34.751 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2553.557 |
1414.428 |
875.064 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
70.618 |
55.414 |
33.474 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2482.939 |
1359.014 |
841.590 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
767.041 |
397.909 |
254.352 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1715.898 |
961.105 |
587.238 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
1837.058 |
2010.566 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
329.98 |
184.83 |
112.93 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
27.44 |
24.33 |
18.60 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
40.24 |
34.88 |
26.83 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
49.32 |
38.55 |
28.42 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.66 |
0.66 |
0.76 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.20 |
0.23 |
0.32 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.16 |
1.26 |
0.91 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
52.000 |
52.000 |
52.000 |
|
Reserves & Surplus |
1060.709 |
2003.685 |
3687.922 |
|
Net
worth |
1112.709 |
2055.685 |
3739.922 |
|
|
|
|
|
|
long-term borrowings |
9.818 |
7.709 |
176.452 |
|
Short term borrowings |
348.773 |
460.523 |
582.889 |
|
Total
borrowings |
358.591 |
468.232 |
759.341 |
|
Debt/Equity
ratio |
0.322 |
0.228 |
0.203 |
%2004-Sep-2014_files/image004.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
3136.348 |
3896.458 |
6170.606 |
|
|
|
24.236 |
58.364 |
%2004-Sep-2014_files/image006.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
3136.348 |
3896.458 |
6170.606 |
|
Profit |
587.238 |
961.105 |
1715.898 |
|
|
18.72% |
24.67% |
27.81% |
%2004-Sep-2014_files/image008.gif)
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 |
-- |
|
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10372144 |
15/11/2012 * |
200,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
B63884381 |
|
2 |
10333818 |
15/11/2012 * |
600,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
B63883599 |
|
3 |
10016973 |
24/09/2009 * |
65,000,000.00 |
AXIS BANK LIMITED |
CREDIT MANAGEMENT CENTRE, 5-2-183/184, 8751(OLD), IIIRD FLOOR, R P ROAD, SECUNDERABAD - 500003, ANDHRA PRADESH, INDIA |
A71194419 |
|
4 |
90126902 |
15/11/2012 * |
600,000,000.00 |
AXIS BANK LIMITED |
CORPORATE BANKING BRANCH,
1ST FLOOR,, PULLAREDDY |
B63794192 |
* Date of charge modification
FINANCIAL PERFORMANCE:
The Company
recorded gross sales of Rs. 6379.700 Millions in FY 13 as against Rs. 3985.600
Millions in FY 12, a growth of 60.07%. While operating profits at Rs.2626.000
Millions in FY 13 as against Rs.1463.300 Millions in FY 12 grew at 79.46%.
The year, saw a
significant increase in operating margins mainly on account of (a) Continuous
process research and development (b) Launch of new molecules (c) higher
revenues from products launched during the previous years (d) effect of foreign
currency movements (e) ability to control procurement costs better cash flow
management amongst other initiatives.
Net profit margins
of the company were at 27.44% in FY 13 as against 24.33% in FY 12 grew by
12.77% over the previous year.
CRISIL has retained its rating at SME 1 indicating "Highest level
of creditworthiness adjudged in relation to other SMEs".
OPERATIONS:
The Company
presently has two world class bulk actives and chemicals manufacturing facility
situated at Rudraram, Medak District and Kardanur, Medak District near Hyderabad
and one finished dosages manufacturing facility at ANRICH Industrial Estate,
Bollaram, Medak District, Near Hyderabad.
BULK ACTIVES:
The Company
produces around 42 bulk actives in addition to the other chemicals and
intermediates in its bulk actives facility. Of this the major products are
clopidogrel, ezetimibe, rosuvastatin, finastride and voricanazole which
together contribute over 82% of the product revenues. The year saw launch of
new molecules viz., Apixaban; Carmoterol; Gecitabine; Latanoprost; Bimatoprost;
Paclitaxel; Tolvaptan; Clevidine; Azacitidine.
The Company
efforts to build a stronger customer base, both in domestic as well as export
markets. The share of export revenues contributes 57% of the total revenues.
The Company expects that the share of export revenues would increase in the
years to come. This being propelled mainly through conscious efforts to
increase its regulatory filings, customer partnerships, etc.
The Company has
filed, in the Indian Patent Office, 189 intellectual property rights
applications. Similarly, 58 applications have been filed under Patents
Cooperation Treaty (PCT).
The company has filed nearly 86 DMFs including CEPS in US, Europe,
Canada, Korea, Japan etc.
FINISHED DOSAGES BUSINESS:
The Company
produces over 75 products in its finished dosage basket. The company has
ventured into chronic therapy-Lifestyle diseases which is the biggest threat to
the country. This segment, covering invasive and degenerative diseases, is one
of the fastest growing segments world over and India in particular. The
successful presence of their finished dosages business enables the Company in
moving up the value chain in the pharmaceutical vertical.
During the year,
the Company has successfully expanded its market reach by establishing a strong
presence in the market. As Domestic Formulations Company we have started making
inroads in the market and are able to make a mark in the Indian Market.
The Company is making
necessary efforts in registering its products in various countries in the
semi-regulated markets of the world. Distribution partners have been identified
in many countries in Asia-Pacific, Latin America, Africa and some parts of CIS.
FIXED ASSETS:
· Land
Buildings
Office
building
Factory
building
Plant
and equipment
Factory
equipments
Other
plant and equipment
Furniture
and fixtures
Vehicles
Motor
vehicles
Computer
equipments
Other
equipments
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.60.54 |
|
|
1 |
Rs.99.73 |
|
Euro |
1 |
Rs.79.54 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ANK |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.