MIRA INFORM REPORT
|
Report No. : |
355605 |
|
Report Date : |
18.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
MEDICO REMEDIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
50, Juhu Supreme Shopping Centre, Gulmohar Cross Road No. 9, Andheri (West),
Mumbai – 400049, Maharashtra |
|
Tel. No.: |
91-22-26701055 /26701066 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
18.03.1994 |
|
|
|
|
Com. Reg. No.: |
11-077187 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 16.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24230MH1994PTC077187 |
|
|
|
|
IEC No.: |
0396051049 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM22132F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCM8349L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Trading of Pharmaceutical drugs. (Confirmed by management) |
|
|
|
|
No. of Employees
: |
300 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 390000 |
|
|
|
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Usually correct |
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|
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Litigation : |
Clear |
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|
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Comments : |
Subject is an established company incorporated in the year 1994,
having satisfactory track. Rating takes into consideration strong financial risk profile of the
company marked by adequate networth base and comfortable gearing in FY15. Further the company has reported significant increase in sales
turnover and profit along with fair profit margin in the year under
consideration. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. In view of long track record of business operations, the company can
be considered for business dealings with usual trade terms and conditions. |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 |
ICRA |
|
Rating |
Long term fund based facilities: B+ |
|
Rating Explanation |
Risk prone credit quality and carries very credit risk. |
|
Date |
November 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term non fund based facilities: A4 |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
November 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
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Harshit Haresh Mehta |
|
Designation : |
Director |
|
Contact No.: |
91-9819657276 |
|
Date : |
18.12.2015 |
LOCATIONS
|
Registered Office : |
50, Juhu Supreme Shopping Centre, Gulmohar Cross Road No. 9, Andheri
(West), Mumbai – 400049, Maharashtra |
|
Tel. No.: |
91-22-26701055 |
|
Mobile No.: |
91-9819657276 (Mr. Harshit Haresh Mehta) |
|
Fax No.: |
91-22-26701059 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
400 Sq. ft. |
|
Location : |
Owned |
|
Locality: |
Commercial |
|
|
|
|
Factory 1 : |
8 and 9, Dewan and Sons Udyog Nagar, Palghar (West), Thane,
Maharashtra, India |
|
Tel. No.: |
91-2525-216287 / 256381 |
|
Telefax No.: |
91-2525-255287 |
DIRECTORS
AS ON 31.03.2015
|
Name : |
Mrs. Rita Haresh Mehta |
|
Designation : |
Director |
|
Address : |
5-A, Pleasant Palace, N. S. Road, JVPD Scheme, Mumbai - 400049,
Maharashtra, India |
|
Date of Birth/Age : |
20.10.1960 |
|
Date of Appointment : |
01.12.1999 |
|
DIN No.: |
01080344 |
|
|
|
|
Name : |
Mr. Haresh Kapurlal Mehta |
|
Designation : |
Director |
|
Address : |
5-A, Pleasant Palace, N. S. Road, JVPD Scheme, Mumbai - 400049,
Maharashtra, India |
|
Date of Birth/Age : |
17.08.1955 |
|
Qualification : |
B. Pharma |
|
Date of Appointment : |
18.03.1994 |
|
DIN No.: |
01080289 |
|
|
|
|
Name : |
Mr. Harshit Haresh Mehta |
|
Designation : |
Director |
|
Address : |
5-A, Pleasant Palace, N. S. Road, JVPD Scheme, Mumbai - 400049,
Maharashtra, India |
|
Date of Birth/Age : |
11.09.1985 |
|
Qualification : |
B. Pharma |
|
Date of Appointment : |
14.12.2011 |
|
DIN No.: |
05144280 |
|
|
|
|
Name : |
Mrs. Shweta Harshit Mehta |
|
Designation : |
Director |
|
Address : |
Behind Cooper Hospital, N.S Road No. 5, 5A Pleasant Palace,
Juhu Scheme, Vileparle(West), Mumbai - 400056, Maharashtra, India |
|
Date of Appointment : |
12.03.2015 |
|
DIN No.: |
07121215 |
|
|
|
|
Name : |
Mr. Rishit Hareshbhai Mehta |
|
Designation : |
Director |
|
Address : |
5-A, Pleasant Palace, N. S. Road, JVPD Scheme, Mumbai - 400049,
Maharashtra, India |
|
Date of Appointment : |
12.03.2015 |
|
DIN No.: |
07121224 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2015
|
Names of Shareholders |
No. of Shares |
|
Harsh K Mehta Indian |
373500 |
|
Rita Mehta Indian |
245700 |
|
Harshit H Mehta Indian |
199000 |
|
Rishit H Mehta |
196930 |
|
Haresh K Mehta HUF |
251800 |
|
Harshit H Mehta HUF |
18000 |
|
Chimanlal Ramji Mehta HUF |
5 |
|
Chintan J Vekaria |
30000 |
|
Sejal C Vekaria |
28000 |
|
Jitendra M Vekaria |
52500 |
|
Shweta H Mehta |
171000 |
|
Gita Sudhir Patel |
5 |
|
Payal S Patel |
5 |
|
Triveni P Patel |
5 |
|
Rajesh S Doshi |
52500 |
|
Gita Sudhir Patel |
5 |
|
Jignesh Rambhia |
5 |
|
Hemlata Chimanlal Kenia |
5 |
|
Octavia Impex Private Limited, India |
5 |
|
Mukesh kantilal Kanakia HUF |
5 |
|
Namo Diamonds Private Limited, India |
5 |
|
Vinod Jadavi Nisar |
5 |
|
Nitin N Satra HUF |
5 |
|
Rajashree P Jariwala |
5 |
|
Vasant Lalji HUF |
5 |
AS ON: 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trading of Pharmaceutical drugs. (Confirmed by management) |
|
|
|
|
Products : |
Pharmaceutical drugs |
|
|
|
|
Brand Names : |
Not Available |
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|
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|
Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
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Products : |
Raw Material |
|
Countries : |
China |
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|
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Terms : |
|
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Selling : |
Cash and Credit (30,60,90 Days) |
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|
|
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Purchasing : |
Cash and Credit (30,60,90 Days) |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
300 (Approximately) |
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Bankers : |
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||||||||||||||||||||||||
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Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
V J Shah and Company Chartered Accountants |
|
Address : |
401-406, K Building, 24 Walchand Hirachand Marg, Ballard Estate, Mumbai – 400001, Maharashtra, India |
|
Tel. No.: |
91-22-22666363/40966263 |
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Fax No.: |
91-22-22665955 |
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Email: |
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Website: |
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Memberships : |
Not Available |
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|
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Collaborators : |
Not Available |
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|
|
|
Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1260000 |
Equity Shares fully paid- up |
Rs.10/- each |
Rs.12.600
Million |
|
340000 |
Equity Shares |
Rs.10/- each |
Rs.3.400
Million |
|
|
Total |
|
Rs.16.000 Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
16.000 |
12.600 |
10.290 |
|
(b) Reserves &
Surplus |
120.138 |
73.117 |
40.262 |
|
(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) |
136.138 |
85.717 |
50.552 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
3.781 |
4.392 |
5.120 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
2.471 |
2.515 |
0.000 |
|
Total Non-current
Liabilities (3) |
6.252 |
6.907 |
5.120 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
78.879 |
84.118 |
56.937 |
|
(b) Trade payables |
131.482 |
131.762 |
67.342 |
|
(c) Other current
liabilities |
2.233 |
1.369 |
0.433 |
|
(d) Short-term provisions |
2.811 |
2.825 |
2.873 |
|
Total Current Liabilities
(4) |
215.405 |
220.074 |
127.585 |
|
|
|
|
|
|
TOTAL |
357.795 |
312.698 |
183.257 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
79.717 |
75.366 |
40.374 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
10.390 |
3.260 |
5.834 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
3.160 |
0.342 |
0.507 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
93.267 |
78.968 |
46.715 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
81.701 |
76.202 |
46.206 |
|
(c) Trade receivables |
73.656 |
60.275 |
22.562 |
|
(d) Cash and cash
equivalents |
18.217 |
13.399 |
1.973 |
|
(e) Short-term loans and
advances |
86.715 |
77.016 |
66.797 |
|
(f) Other current assets |
4.239 |
6.838 |
0.004 |
|
Total Current Assets |
264.528 |
233.730 |
137.542 |
|
|
|
|
|
|
TOTAL |
357.795 |
312.698 |
184.257 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
509.899 |
448.588 |
|
|
|
Other Income |
1.145 |
1.181 |
|
|
|
TOTAL (A) |
511.044 |
449.769 |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
369.788 |
348.807 |
|
|
|
Purchases of
Stock-in-Trade |
4.615 |
3.999 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
4.561 |
(18.934) |
|
|
|
Employees benefits
expense |
34.134 |
24.196 |
|
|
|
Extraordinary items |
(1.592) |
0.000 |
|
|
|
Other expenses |
67.765 |
68.538 |
|
|
|
TOTAL (B) |
479.271 |
426.606 |
NA |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION
(C) |
31.773 |
23.163 |
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
8.246 |
6.137 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
23.527 |
17.026 |
11.114 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
12.515 |
7.449 |
4.059 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX
(E-F) (G) |
11.012 |
9.577 |
7.055 |
|
|
|
|
|
|
|
Less |
TAX (H) |
3.092 |
3.288 |
2.780 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX (G-H)
(I) |
7.920 |
6.289 |
4.275 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
19.367 |
13.078 |
8.803 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
27.287 |
19.367 |
13.078 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
5.91 |
4.99 |
NA |
Expected Sales ( 2015-2016 ) : Rs.600.000 Million
The above information has been parted by Mr. Harshit Haresh Mehta
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
(3.183) |
NA |
NA |
|
Net cash flow from operating activities |
(7.531) |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.55 |
1.40 |
NA |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
6.23 |
5.16 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.17 |
3.09 |
3.95 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
0.11 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.58 |
0.98 |
1.13 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.23 |
1.06 |
1.08 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
10.290 |
12.600 |
16.000 |
|
Reserves & Surplus |
40.262 |
73.117 |
120.138 |
|
Net worth |
50.552 |
85.717 |
136.138 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
56.937 |
84.118 |
78.879 |
|
Total borrowings |
56.937 |
84.118 |
78.879 |
|
Debt/Equity ratio |
1.126 |
0.981 |
0.579 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
448.588 |
509.899 |
|
|
13.668 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
448.588 |
509.899 |
|
Profit |
6.289 |
7.920 |
|
|
1.40% |
1.55% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
Yes |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last two years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
STATE OF COMPANY’S AFFAIRS
AND FUTURE OUTLOOK
The revenue from operations for the Financial Year 2014-2015 at Rs. 509.899 Million increased by 13.66% over last year (Rs. 448.588 Million in Financial Year 2013-2014). The Earnings before Depreciation and Tax (EBDT) in Financial Year 2014-2015 was Rs. 21.936 Million. The Profit after Tax (PAT) for the Financial Year 2014-2015 is Rs. 7.920 Million recording increase of 25.93% over PAT of Rs. 6.289 Million in Financial Year 2013-2014.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2015 |
As
on 31.03.2014 |
|
SHORT TERM
BORROWING |
|
|
|
Loans and advances from related parties |
15.162 |
9.186 |
|
Total |
15.162 |
9.186 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
80024456 |
23/02/2007 * |
14,937,000.00 |
BANK OF BARODA |
VILE PARLE WEST BRANCH, SOMAIYA SADAN,, D. J. ROA |
A11601531 |
|
2 |
80024744 |
10/03/2015 * |
162,500,000.00 |
BANK OF BARODA |
VILE PARLE (WEST) BRANCH, SOMAIYA SADAN,, D. J. R |
C46255915 |
|
3 |
80024471 |
10/03/2015 * |
162,500,000.00 |
BANK OF BARODA |
VILE PARLE (WEST) BRANCH, SOMAIYA SADAN,, D. J. R |
C46255709 |
* Date of charge modification
FIXED ASSETS
- Air Conditioner
- Computer
- Furniture and Fixtures
- Vehicles
- Office Equipment
- Electrical
- Factory Building
- Plant and Machinery
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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.66.65 |
|
UK Pound |
1 |
Rs.99.61 |
|
Euro |
1 |
Rs.72.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
KVT /GEET |
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 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
44 |
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.