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Report Date : |
24.09.2014 |
IDENTIFICATION DETAILS
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Name : |
JAN AUSHADI GENERIC MEDICINE STORE |
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Registered
Office : |
Near Civil Hospital, Phase 06, Mohali - 160055, |
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Country : |
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Year of
Establishment: |
August 2012 |
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Capital
Investment / Paid-up Capital : |
Not Available |
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TIN No.: |
03932107691 |
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Legal Form : |
Operative agency acting on behalf of government |
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Line of Business
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Dealer and Trader of Allopathic Medicines. |
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No. of Employees
: |
3 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a pharmacy run by Indian Red Cross Society (NGO) an
operating agency under the scheme initiated by government of Trade relations seems to be fair. Business is active. Payment terms
are reported as usually correct. In view of financial support from the government of |
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 1, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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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 |
INDIAN ECONOMIC OVERVIEW
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks
over coal supply contracts, uncertainty over cancellation of blocks weigh on
stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
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 PARTED BY (GENERAL DETAILS)
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Name : |
Mr. Ritesh |
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Designation : |
In Charge of Shope |
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Contact No.: |
91-8146337001 |
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Date : |
20.09.2014 |
LOCATIONS
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Registered Office : |
Near Civil Hospital, Phase 06, Mohali - 160055, |
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Tel. No.: |
Not Available |
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Mobile No.: |
91-8146337001 (Mr. Ritesh) |
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Fax No.: |
Not Available |
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E-Mail : |
MANAGEMENT
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Name : |
Indian Red Cross Society |
KEY EXECUTIVES
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Name : |
Mr. Ritesh |
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Designation : |
In Charge of Shope |
BUSINESS DETAILS
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Line of Business : |
Dealer and Trader of Allopathic Medicines. |
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Terms : |
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Selling : |
Cash and Credit (30 Days) |
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Purchasing : |
Cash and Credit (30 Days) |
GENERAL INFORMATION
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Customers : |
Retailers |
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No. of Employees : |
3 (Approximately) |
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Bankers : |
State Bank of |
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Banking
Relations : |
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Auditors : |
Not Available |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Available |
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Borrowed : |
Not Available |
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Total : |
Not Available |
FINANCIAL DATA
[all figures are
in Rupees Millions]
NOT AVAILABLE
The above information has been denied by Mr. Ritesh (In Charge of Shope)
Note : Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
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2] |
Locality of the firm |
Yes |
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3] |
Constitutions of the firm |
Yes |
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4] |
Premises details |
No |
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5] |
Type of Business |
Yes |
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6] |
Line of Business |
Yes |
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7] |
Promoter's background |
No |
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8] |
No. of employees |
Yes |
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9] |
Name of person contacted |
Yes |
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10] |
Designation of contact
person |
Yes |
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11] |
Turnover of firm for last
three years |
No |
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12] |
Profitability for last
three years |
No |
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13] |
Reasons for variation
<> 20% |
-- |
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14] |
Estimation for coming
financial year |
No |
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15] |
Capital in the business |
No |
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16] |
Details of sister
concerns |
No |
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17] |
Major suppliers |
No |
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18] |
Major customers |
No |
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19] |
Payments terms |
Yes |
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20] |
Export / Import details (if
applicable) |
No |
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21] |
Market information |
-- |
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22] |
Litigations that the firm
/ promoter involved in |
-- |
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23] |
Banking Details |
Yes |
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24] |
Banking facility details |
No |
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25] |
Conduct of the banking
account |
-- |
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26] |
Buyer visit details |
-- |
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27] |
Financials, if provided |
No |
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28] |
Incorporation details, if
applicable |
No |
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29] |
Last accounts filed at
ROC |
No |
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30] |
Major Shareholders, if
available |
No |
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31] |
Date of Birth of Proprietor/Partner/Director,
if available |
No |
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32] |
PAN of
Proprietor/Partner/Director, if available |
No |
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33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
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34] |
External Agency Rating,
if available |
No |
PRESS RELEASES
ONE-THIRD OF SUBSIDIZED MEDICINE STORES NON-FUNCTIONAL
AUGUST 7, 2014
In a written reply in Lok Sabha, MoS (chemical and fertilizer) Nihal Chand
submitted that till July, 166 JAS had been opened and 76 of them are
non-functional. He submitted that stores are lying closed due to change in
health policy of state governments and for administrative reasons.
The states where more such stores are functional include Odisha, Punjab, Jharkhand
and
GOVT ALLOWS TRUSTS, SOCIETIES TO RUN JAN AUSHADHI STORES
AUGUST 23, 2013
The government today said trusts, societies, unemployed
pharmacists and entrepreneurs, among others, would be allowed to run 'Jan
Aushadhi' stores to promote sale of affordable generic drugs across
The move is part of a new business plan to promote sale of low-cost medicines and to overcome the challenges in increasing the number of Jan Aushadhi stores -- the pharmacy chain initiated by the government in November, 2008 for making generic drugs available at affordable prices to all.
"Under the new plan, the process of identification of operating agencies has now been simplified and entities other than those identified by the state governments are also proposed to be appointed as operating agencies for running the Jan Aushadhi stores," Minister of State for Chemicals and Fertilisers Srikant Kumar Jena said in a written reply in Rajya Sabha.
As per the new plan societies, trusts, unemployed pharmacists, entrepreneurs, etc would be eligible for appointment as operating agencies, he added.
"Stores would now be opened even outside the hospital
premises. Basket of drugs has now been widened to 361 drugs covering all
therapeutic categories,"
As per the new plan, state identified agencies would continue to get initial grant of Rs 0.250 Million, where as others would get sales linked incentives ie 10% of the monthly sales subject to a ceiling of Rs 10,000, he added.
"With a view to promote generic medicines for the North Eastern and difficult areas, this assistance would be 15% of the monthly sales, subject to a ceiling of Rs 15,000," the Minister said.
Since its launch in 2008, 157 Jan Aushadhi stores have been opened out of which 93 are currently functional.
JAN AUSHADHI SHOPS TO PROVIDE UNBRANDED GENERIC MEDICINES
FEBRUARY 4, 2009
A few Jan Aushadhi outlets have already begun functioning in
Following Punjab government's cooperation with the Centre, other states like
Haryana, Rajasthan, Bihar and
In
Opening generic drug stores was decided at a meeting of the Pharma Advisory
Forum chaired by Paswan on April 23. Kumar said, "I am going slow because
I want to ensure uninterrupted supply of the required generic medicines."
Primarily, five PSUs -- IDPL, HAL, BPCL, KAPL and RDPL -- will supply medicines
but Kumar said several private sector drug manufacturers too had promised to help
in the mission.
"There is a problem of mindset. Most people go by the high price of
medicine. Invariably, branded medicines being costly are preferred by
patients," Kumar said. "We will ensure that quality of drugs being
supplied at our Jan Aushdhi shops will be of high standard even though their
price would be less than half of branded drugs. For this, we are taking the
help of doctors, NGOs, Indian Medical Association, private industries and civil
society to educate the people overcome this mental block," Kumar added.
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.60.87 |
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|
1 |
Rs.99.63 |
|
Euro |
1 |
Rs.78.22 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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Report Prepared
by : |
KVT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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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 |
|
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NB |
New Business |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.