MIRA INFORM REPORT

 

 

Report No. :

326715

Report Date :

10.06.2015

 

IDENTIFICATION DETAILS

 

Name :

SPC LIFE SCIENCES PRIVATE LIMITED

 

 

Registered Office :

Plot No.284/1, GIDC Estate, Opposite Lucky Restaurant, Makarpura, Vadodara – 390 010, Gujarat

Tel. No.:

91-265-2658894

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

15.06.2005

 

 

Com. Reg. No.:

04-046252

 

 

Capital Investment / Paid-up Capital :

Rs.22.934 million

 

 

CIN No.:

[Company Identification No.]

U24230GJ2005PTC046252

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

BRDS04895C

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is engaged in manufacturing of bulk drugs and other pharmaceutical intermediates.

 

 

No. of Employees :

85 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (43)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track record.

 

General financial position of the company seems to be sound. Profitability of the company is fair.

 

Trade relations are fair. Business is active. Payment terms are reported to be usually correct.

 

The company can be considered for business dealings at usual trade terms and condition.  

 

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

CRISIL

Rating

Long Term Rating = BB

Rating Explanation

Inadequate credit quality and high credit risk.

Date

29.12.2014

 

Rating Agency Name

CRISIL

Rating

Short Term Rating = A4+

Rating Explanation

Minimal degree of safety and very high credit risk.

Date

29.12.2014

 

 

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 31-03-2013.

 

INFORMATION PARTED BY

 

Name :

Mr. Navin Trivedi

Designation :

Accounts Manager

Contact No.:

91-9998016150

Date :

08.06.2015

 

 

LOCATIONS

 

Registered Office/ Corporate Office :

Plot No.284/1, GIDC Estate, Opposite Lucky Restaurant, Makarpura, Vadodara – 390 010, Gujarat, India

Tel. No.:

91-265-2658894/ 2352496

Mobile No.:

91-9998016150 (Mr. Navin Trivedi)

Fax No.:

91-265-2635692

E-Mail :

info@spcls.co.in

ntrivedi@spcls.co.in

hdpatelca@rediffmail.com

Website :

http://www.spcls.co.in

 

Factory :

Plot No.3611/1, 2, 3, 4, GIDC Estate, Ankleshwar, District Bharuch – 393 002, Gujarat, India

Tel. No.:

91-2646-226060

Fax No.:

91-2646-223364

E-Mail :

contactspc@spcls.co.in

Area :

5400 sq. m.

Location :

Owned

 

 

DIRECTORS

 

AS ON 25.09.2014

 

Name :

Mr. Ravjibhai Dudabhai Dudhat

Designation :

Director

Address :

72, Alka Society, J.P. Road, Akota, Vadodara – 390 020, Gujarat, India

Date of Birth/Age :

20.12.1948

Date of Appointment :

15.06.2005

DIN No.:

00030853

 

 

Name :

Mrs. Snehal Ravjibhai Patel

Designation :

Managing director

Address :

72, Alka Society, Near Akota Garden, Akota, Vadodara – 390 020, Gujarat, India

Date of Birth/Age :

01.06.1976

Date of Appointment :

03.04.2006

DIN No.:

00165190

 

 

KEY EXECUTIVES

 

Name :

Mr. Navin Trivedi

Designation :

Accounts Manager

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 25.09.2014

 

Names of Shareholders

 

No. of Shares

Percentage of Holding

Ravjibhai Dudabhai Dudhat

22934

1.00

Mili Snehal Patel

5000

0.22

Sangitaben Ravjibhai Dudhat

22934

1.00

Snehal Ravjibhai Patel

1912729

83.40

Genesis  Organics Private Limited, India

329800

14.38

Total

2293397

100.00

 

 

AS ON 25.09.2014

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage

Bodies corporate

14.38

Directors or relatives of Directors

85.62

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged in manufacturing of bulk drugs and other pharmaceutical intermediates.

 

 

Products :

Bulk drugs and other pharmaceutical intermediates.

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :
  • Finished Goods

Countries :
  • Israel
  • Poland

 

 

Imports :

 

Products :
  • Raw Material

Countries :
  • China

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit 

 

 

PRODUCTION STATUS – NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Nantong Acetic Acid Chemical Co., Limited -China

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Payment Behaviour

Market Goodwill

Overall

Not Divulged

Not Divulged

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Manufacturer

 

Reference :

Teva Pharma - Israel

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Product Quality

Delivery Behaviour

Overall

Not Divulged

Not Divulged

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

85 (Approximately)

 

 

Bankers :

Banker Name

State Bank of India

Branch Address

Specialized Commercial Branch, 2nd Floor, Trident, Near Race Course Circle, Vadodara – 390 007, Gujarat, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Fund and Non-Fund Based: Rs.163.100 million

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

  • Small Industries Development Bank of India, 1st Floor, Land Mark Building, Race Course Circle, Vadodara – 390 007, Gujarat, India
  • Indian Overseas Bank, Dandia Bazar Branch, Dandia Bazar, Vadodara – 390 001, Gujarat, India
  • Kotak Mahindra Bank Limited
  • Oriental Bank of Commerce

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

A. Term Loans:

 

 

From Banks

 

 

(i) Rupee Loans

 

 

State Bank of India - Building and Machinery

0.000

12.723

State Bank of India

6.875

5.964

State Bank of India - Corporate Loan

7.842

0.000

(ii) Foreign Currency Loan

 

 

State Bank of India - FCNRB

0.000

3.242

State Bank of India - FCNRB (New)

12.627

0.000

B. Long Term Maturities of Finance Lease Obligations

 

 

TATA Capital Limited - Car Loan

0.000

0.423

TATA Capital Limited - Car Loan

0.000

0.096

ICICI Bank - Car Loan

1.125

0.000

SHORT TERM BORROWINGS

 

 

A. Loan Repayable on Demand

 

 

From Banks

 

 

(i) Rupee Loans

 

 

Indian Overseas Bank - Cash Credit

(0.019)

(0.019)

State Bank of India - Cash Credit

26.676

1.107

(ii) Foreign Currency Loan

 

 

State Bank of India - EBR

5.247

0.000

State Bank of India - EBR - LC

1.799

0.000

State Bank of India - SLC

0.007

0.000

State Bank of India - Packing Credit

38.849

53.649

Total

101.028

77.185

 

Notes:

 

Long Term Borrowings:

 

Details of Securities and Terms of Repayment

 

State Bank of India

 

The Loan has been closed during the previous year and roll over to new FCNRB term loan in June, 2013

 

State Bank of India

 

Secured by the first charge by way of extension of Equitable Mortgage charge over factory land and building and hypothecation over plant and machineries acquired / to be acquired out of Bank Finance.

 

The Loan is repayable in 84 months with moratorium of 12 months, to be repaid in 72 monthly installments of Rs.0.125 million each commencing from Nov, 2013. Interest is payable at the floating rate of 14.20% p.a. (base rate 9.70% + 4.50% as on 31st March, 2014). Interest is payable separately as and when due. The period of maturity w.r.t. balance sheet date is 5 years and 6 months.

 

State Bank of India

 

Secured by the first charge by way of extension of hypothecation charge over current assets of the company.

 

The Loan is repayable in 60 months, to be repaid in 59 monthly installments of Rs.0.166 million each commencing from next month immediate after disbursement and last installment of Rs.0.206 million. Interest is payable at the floating rate of 13.50% p.a. (base rate 10.00% + 4.50% as on 31st March, 2014). Interest is payable separately as and when due. The period of maturity w.r.t. balance sheet date is 4 years and 11 months.

 

State Bank of India

 

The Loan has been closed during the previous year and roll over to new FCNRB term loan in June, 2013

 

State Bank of India

 

Rupee Term loan of 2.10 Crores and FCNRB loan outstanding on 31st March, 2013 has been rolled over to a new FCNRB term Loan for $ 358418.10

 

Secured by the first charge by way of Equitable Mortgage of specific factory land and building of the company as specified in the schedule annexed to the loan agreement executed on 8th April, 2011 for the rupee term loan of Rs.21.000 million and FCNRB term loan.

 

The Loan is repayable in 6 quarterly installments of $ 29795.65 and last installment of $ 179644.55. Interest is payable separately at the floating rate of 4.8289% p.a. (Rate is as on 31st March, 2014). The period of maturity w.r.t. balance sheet date is 1 year and 3 months.

 

The amount of Installment is converted into Indian rupees at the exchange rate prevailing as on the date of Balance Sheet.

 

TATA Capital Limited

 

Secured by the first charge by way hypothecation of vehicle as specified in the schedule annexed to the loan agreement executed on 9th April, 2010.

 

The Loan is repayable in 60 equal monthly installments of Rs.0.037 million each. Interest is payable at the fixed rate of 8.53% p.a. The period of maturity w.r.t. balance sheet date is 1 year.

 

TATA Capital Limited

 

Secured by the first charge by way hypothecation of vehicle as specified in the schedule annexed to the loan agreement executed on 4th October, 2011.

 

The Loan is repayable in 36 equal monthly installments of Rs.0.058 million each. w.e.f. November, 2012, Installment is of Rs.0.042 million each and w.e.f. November, 2013, Installment is of Rs.0.014 million each. Interest is payable at the fixed rate of 11.45 % p.a. The period of maturity w.r.t. balance sheet date is 6 months.

 

ICICI Bank

 

Secured by the first charge by way hypothecation of vehicle as specified in the schedule annexed to the loan agreement executed on 7th September, 2013.

 

The Loan is repayable in 36 equal monthly installments of Rs.0.068 million each. w.e.f. October, 2013, each. Interest is payable at the fixed rate of 10.00% p.a. The period of maturity w.r.t. balance sheet date is 2 years and 6 months.

 

Short Term Borrowings

 

Details of Securities and Terms of Borrowings

 

State Bank of India

 

Secured by the first charge by way of hypothecation of stock, consumables and stores, book debts, export receivables and other current assets of the Company upto a credit limit of Rs.80.000 million.

 

The Cash Credit is repayable on demand and carries interest of 14.25% p.a. (9.75% above base rate of 4.50% as on 31st March, 2014).

 

State Bank of India

 

Secured by the first charge by way of hypothecation of stock, consumables and stores, book debts, export receivables and other current assets of the Company upto a credit limit of Rs.69.000 million.

 

PCFC Credit is repayable on demand and carries interest of 4.8289% p.a. (Rate is as on 31st March, 2014).

 

Banking Relations :

--

 

 

Auditors :

 

Name :

H. Patel and Company

Chartered Accountants

Address :

104, Deepam Residency, 26, Vishwas Colony, Behind National Plaza, Alkapuri, Vadodara – 390 007, Gujarat, India

PAN No.:

ACQPP5827Q

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associate Company :

Genesis Organics Private Limited

 

 

CAPITAL STRUCTURE

 

AFTER 25.09.2014

 

Authorised Capital : Rs.30.000 million

 

Issued, Subscribed & Paid-up Capital : Rs.27.934 million

 

AS ON 25.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

2500000

Equity Shares

Rs.10/- each

Rs.25.000 million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

2293397

Equity Shares

Rs.10/- each

Rs.22.934 million

 

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2014

31.03.2013

31.03.2012

I.              EQUITY AND LIABILITIES

 

 

 

(1) Shareholders' Funds

 

 

 

(a) Share Capital

22.934

22.934

22.934

(b) Reserves & Surplus

59.783

52.025

34.837

(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)

82.717

74.959

57.771

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

28.469

22.448

17.219

(b) Deferred tax liabilities (Net)

1.464

0.486

0.436

(c) Other long term liabilities

0.000

0.000

0.000

(d) Long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

29.933

22.934

17.655

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

83.817

55.992

59.396

(b) Trade payables

77.445

72.906

58.739

(c) Other current liabilities

10.475

13.813

14.169

(d) Short-term provisions

3.286

9.754

5.260

Total Current Liabilities (4)

175.023

152.465

137.564

 

 

 

 

TOTAL

287.673

250.358

212.990

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

106.045

64.666

65.807

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

1.754

32.972

11.970

(iv) Intangible assets under development

0.000

0.824

0.824

(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

7.894

2.640

2.440

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

115.693

101.102

81.041

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

48.438

55.113

41.974

(c) Trade receivables

95.087

60.952

66.410

(d) Cash and cash equivalents

15.589

17.230

12.615

(e) Short-term loans and advances

2.232

11.378

7.814

(f) Other current assets

10.634

4.583

3.136

Total Current Assets

171.980

149.256

131.949

 

 

 

 

TOTAL

287.673

250.358

212.990

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

 

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Revenue from Operations (Net)

408.479

323.339

355.947

 

 

Other Income

4.087

2.207

3.369

 

 

TOTAL                                    

412.566

325.546

359.316

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                    

NA

NA

NA

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

NA

NA

NA

 

 

 

 

 

Less

TAX                                                                 

NA

NA

NA

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

7.758

17.188

18.803

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings (FOB Value)

286.630

202.989

193.124

 

TOTAL EARNINGS

286.630

202.989

193.124

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

166.705

142.832

167.320

 

TOTAL IMPORTS

166.705

142.832

167.320

 

 

 

 

 

 

Earnings/ (Loss) Per Share (Rs.)

3.38

7.49

8.20

 

Particulars

 

 

 

31.03.2015

Sales Turnover (Approximately)

 

 

480.000

 

 

 

 

 

The above information has been parted by Mr. Navin Trivedi (Accounts Manager).

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

7.282

8.968

10.668

Cash generated from operations

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT/Sales)

(%)

1.90

5.32

5.28

 

 
 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

1.45

1.17

1.51

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.98

0.98

0.96

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

22.934

22.934

22.934

Reserves & Surplus

34.837

52.025

59.783

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

57.771

74.959

82.717

 

 

 

 

Long-term borrowings

17.219

22.448

28.469

Short term borrowings

59.396

55.992

83.817

Current maturities of long-term debts

10.668

8.968

7.282

Total borrowings

87.283

87.408

119.568

Debt/Equity ratio

1.511

1.166

1.446

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Revenue from Operations (Net)

355.947

323.339

408.479

 

 

(9.161)

26.331

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Revenue from Operations (Net)

355.947

323.339

408.479

Profit

18.803

17.188

7.758

 

5.28%

5.32%

1.90%

 

 

 

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

Yes

18

Major suppliers

Yes

19

Major customers

Yes

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 four years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

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

 

 

Note:

The Registered office of the company has been shifted from 102, Toran Complex, Vikas Nagar, Old Padra Road, Vadodara-390021, Gujarat, India to present address w.e.f. 11.02.2008.

 

BACKGROUND:

 

The business is originally established and carried on in the name of Snehal Pharma Chem, a partnership firm, and subsequently taken over by the Company. The plant is situated at Plot No. 3611/1, 2, and 3, GIDC Industrial Estate, Ankleshwar. The company is engaged in manufacturing of bulk drugs and other pharmaceutical intermediates.

 

 

UNSECURED LOANS

 

Particular

31.03.2014

(Rs. in million)

31.03.2013

(Rs. in million)

SHORT TERM BORROWINGS

 

 

A. Loans and Advances from Related Parties

 

 

Snehal R. Patel - Loan

7.500

0.000

B. Other Loans and Advances

 

 

Jagdish D. Parikh

1.255

1.255

Brahmani Construction

2.503

0.000

Total

11.258

1.255

 

Notes:

 

Short Term Borrowings

 

Loans and Advances from related parties are subject to clearance of cheques in the bank.

 

 

INDEX OF CHARGES

 

S. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10515662

14/08/2014

24,700,000.00

SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA

1ST FLOOR, LAND MARK BUILDING, RACE COURSE CIRCLE, VADODARA, GUJARAT - 390007, INDIA

C17025982

2

10515664

14/08/2014

24,700,000.00

SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA

1ST FLOOR, LAND MARK BUILDING, RACE COURSE CIRCLE, VADODARA, GUJARAT - 390007, INDIA

C17027244

3

10515647

14/08/2014

74,500,000.00

SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA

1ST FLOOR, LAND MARK BUILDING, RACE COURSE CIRCLE, VADODARA, GUJARAT - 390007, INDIA

C17008871

4

10515660

14/08/2014

74,500,000.00

SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA

1ST FLOOR, LANDMARK BUILDING, RACE COURSE CIRCLE, VADODARA, GUJARAT - 390007, INDIA

C17020892

5

10288484

23/07/2014 *

163,100,000.00

STATE BANK OF INDIA

SPECIALIZED COMMERCIAL BRANCH, 2ND FLOOR-TRIDENT, RACE COURSE CIRCLE,, VADODARA, GUJARAT - 390007, 
INDIA

C21404579

6

10285661

21/02/2014 *

163,100,000.00

STATE BANK OF INDIA

STATE BANK OF INDIA, 2ND FLOOR-TRIDENT, RACE COURSE CIRCLE, VADODARA, GUJARAT - 390007, INDIA

C02773380

 

* Date of charge modification

 

 

FIXED ASSETS

 

·         Factory Land

·         Factory Building

·         Office Building

·         Plant and Machinery

·         Furniture and Fixture

·         Computers

·         Vehicles

·         Warehouse and Admin Building

 

 

 

 

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 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.63.94

UK Pound

1

Rs.98.27

Euro

1

Rs.72.37    

 

 

INFORMATION DETAILS

 

Information Gathered by :

KMN

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

SMN

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

4

--RESERVES

1~10

5

--CREDIT LINES

1~10

4

--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

YES

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

43

 

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

 

--

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.