MIRA INFORM REPORT

 

 

Report No. :

343938

Report Date :

06.10.2015

           

IDENTIFICATION DETAILS

 

Name :

ORCHEV PHARMA PRIVATE LIMITED

 

 

Registered Office :

Rangoli, 1st Floor, Opposite Jaynath Petrol Pump, Gondal Road, Rajkot – 360002, Gujarat

Tel. No.:

91-281-2365731 / 32

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

28.06.1989

 

 

Com. Reg. No.:

04-012430

 

 

Capital Investment / Paid-up Capital :

Rs.9.990 Million

 

 

CIN No.:

[Company Identification No.]

U24231GJ1989PTC012430

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAACO3086D

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer, Exporter and Importer of bulk drugs.

 

 

No. of Employees :

50 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (45)

 

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 :

Exist

 

 

Comments :

Subject is an established company incorporated in the year 1989. It is having satisfactory track.

 

The rating takes into consideration strong financial risk profile of the company marked by adequate networth base and comfortable gearing in FY 2014.

 

Profit and loss account for the year 2014 was not available from any sources. However Mr. Dharmendra Trivedi (Account Manager) claimed that the company has reported sales turnover of Rs.450 Million in FY 2014. Further from the indirect sources, we found that it has achieved net profit of Rs.18.8 Million 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 along with decent financial condition, the company can be consideration for business dealings with usual trade terms and conditions.

 

Note:

Partial information has been taken from indirect sources i.e. ICRA rating.

 

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

ICRA

Rating

Cash credit = BBB-

Rating Explanation

Moderate degree of safety and moderate credit risk.

Date

September, 2014

 

Rating Agency Name

ICRA

Rating

Letter of credit = A3

Rating Explanation

Moderate degree of safety and higher credit risk.

Date

September, 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. Dharmendra Trivedi

Designation :

Account Manager

Contact No.:

91-281-2365731

Date :

05.10.2015

 

 

LOCATIONS

 

Registered Office :

Rangoli, 1st Floor, Opposite Jaynath Petrol Pump, Gondal Road, Rajkot – 360002, Gujarat, India

Tel. No.:

91-281-2365731 / 32

Fax No.:

91-281-2365733

E-Mail :

info@orchev.com

csroc.mail@hjamnadas.com

Website :

http://www.orchev.com

 

 

Factory:

Shapar Industrial Area, Rajkot-Gondal Highway, Veraval, District Rajkot – 360 024, Gujarat, India

Tel. No.:

91-2827-252114/ 252115

Fax No.:

91-2827-252113

 

 

DIRECTORS

 

As on 27.09.2014

 

Name :

Mr. Viren Vasantbhai Patel

Designation :

Director

Address :

Sadguru Tower, Block No. B/9, Opposite Gondhiya Hospital, Kalawad Road, Rajkot - 360005, Gujarat, India

Date of Appointment :

01.06.2006

DIN No.:

00544034

 

 

Name :

Mr. Chirag Vasantbhai Patel

Designation :

Director

Address :

B/9, Shree Sadguru Tower, Kalawad Road, Rajkot - 360005, Gujarat, India

Date of Appointment :

01.08.2006

DIN No.:

00544051

 

 

Name :

Mr. Vasantlal Odhavjibhai Bhalodia

Designation :

Director

Address :

B-9, Sadguru Towers, Opposite Gondhia Hospital, Kalawad Road, Rajkot - 360001, Gujarat, India

Date of Appointment :

28.06.1989

DIN No.:

00544069

 

 

Name :

Kanchanben Vasantlal Bhalodia

Designation :

Director

Address :

B/9, Shree Sadguru Towers, Kalawad Road, Rajkot - 360005, Gujarat, India

Date of Appointment :

03.10.1992

DIN No.:

00544082

 

 

KEY EXECUTIVES

 

Name :

Mr. Dharmendra Trivedi

Designation :

Account Manager

 

 

MAJOR SHAREHOLDERS

 

As on 27.09.2014

 

Names of Shareholders

 

No. of Shares

Vasantlal Odhavjibhai Bhalodia

 

995

Vasantlal Odhavjibhai Bhalodia (As Karta of Vasantlal o. Bhalodia HUF)

 

1544

Kanchanben Vasantlal Bhalodia

 

707

Anilbhai Sridhar Kane

 

104

Kasturben Amrutlal Patel

 

110

Prafulkumar Vinaychandra Kamdar

 

110

Dineshkumar Harjivanbhai Patel

 

100

Chiragbhai Vasantbhai Patel

 

2568

Viren Vasantlal Patel

 

3006

Dipti Chiragbhai Patel

 

457

Bharatbhai T. Kalawadia

 

78

Nitinbhai T. Kalawadia

 

78

Ameeben Virenbhai Patel

 

133

Total

 

9990

 

As on 27.09.2014

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage

Directors or relatives of Directors

94.19

Others

5.81

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer, Exporter and Importer of bulk drugs.

 

 

Products :

Bulk Drugs

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Finished Goods

Countries :
  • Bangladesh
  • Brazil

 

 

Imports :

 

Products :

Raw Material

Countries :

China

 

 

Terms :

 

Selling :

Cash, L/C and Credit

 

 

Purchasing :

Cash, L/C and Credit

 

PRODUCTION STATUS = NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

S M S Pharmaceuticals Limited, Hyderabad, Telangana, India

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

Customers :

Wholesalers, Retailers and Manufacturers

Reference :

Dresden Lab SAC - Peru

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

No. of Employees :

50 (Approximately)

 

 

Bankers :

Banker Name

State Bank of India

Branch Address

Dhebar Road, Rajkot - 360001, 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)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

  • State Bank of Saurashtra, Bhaktinagar Branch, Dhebar Road, Rajkot - 360001, Gujarat, India

 

  • UCO Bank, Main Branch, Rajkot, Gujarat, India

 

Auditors :

 

Name :

H. Jamnadas and Company

Chartered Accountants

Address :

‘H. Jamnadas House', 50 - Janta Society, Mahila College Chowk, Tagore Road, Rajkot – 360001, Gujarat, India

PAN No.:

AABFH2320P

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

Not Available

 

 

CAPITAL STRUCTURE

 

As on 27.09.2014

 

Authorised Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

10000

Equity Shares

Rs.1000/- each

Rs.10.000 Million

 

Issued, Subscribed & Paid-up Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

9990

Equity Shares

Rs.1000/- each

Rs.9.990 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

9.990

9.990

9.990

(b) Reserves & Surplus

135.662

118.614

107.901

(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)

145.652

128.604

117.891

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

43.540

45.599

12.113

(b) Deferred tax liabilities (Net)

1.287

1.604

1.821

(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)

44.827

47.204

13.934

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

29.500

27.301

15.357

(b) Trade payables

51.295

41.277

38.208

(c) Other current liabilities

7.008

7.261

0.914

(d) Short-term provisions

20.916

14.696

6.979

Total Current Liabilities (4)

108.719

90.534

61.458

 

 

 

 

TOTAL

299.198

266.342

193.283

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

54.936

54.806

51.350

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

4.764

1.879

6.241

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.094

0.094

0.094

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

0.000

0.000

0.000

(e) Other Non-current assets

1.782

1.157

1.142

Total Non-Current Assets

61.576

57.936

58.827

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.013

0.000

0.000

(b) Inventories

111.709

80.688

54.180

(c) Trade receivables

61.281

86.611

40.620

(d) Cash and cash equivalents

4.144

2.691

4.389

(e) Short-term loans and advances

1.000

0.000

0.000

(f) Other current assets

59.475

38.416

35.267

Total Current Assets

237.622

208.406

134.456

 

 

 

 

TOTAL

299.198

266.342

193.283

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

450.300 (Operating Income) 

 

 

 

Other Income

 NA

 

 

 

TOTAL

 NA

386.163

279.697

 

 

 

 

 

Less

EXPENSES

 NA

354.837

259.884

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

 NA

31.326

19.813

 

 

 

 

 

Less

FINANCIAL EXPENSES

NA

3.73

3.022

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

 NA

27.596

16.791

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

 NA

8.377

6.499

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

 NA

19.219

10.292

 

 

 

 

 

Less

TAX

 NA

6.753

3.202

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

 18.800

12.466

7.090

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD 

 NA

87.85

83.052

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

Transfer to General Reserve

 NA

0.625

0.550

 

Dividend

 NA

1.499

1.499

 

Tax on Dividend

 NA

0.254

0.243

 

Total

NA

2.378

2.292

 

 

 

 

 

 

Balance Carried to the B/S

 NA

97.938

87.850

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

Export Sales

 NA

211.237

137.447

 

TOTAL EARNINGS

 NA

211.237

137.447

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

1881.88

1247.84

709.70

 

Note:

The above information of i.e. operating income and profit after tax amount for the year 2014 has been taken from indirect source i.e. ICRA.

 

Particulars

 

 

31.03.2015

Sales Turnover (Approximately)

 

380.000

(Due to less order received)

 

Expected Sales (2015-16): Rs.400.000 Million

 

The above information has been parted by Mr. Dharmendra Trivedi (Account Manager).

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

NA

NA

NA

Net cash flows from

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT/Total Income)

(%)

NA

3.23

2.53

 

 

 

 

 

Operating Profit Margin

(PBDIT / Sales)

(%)
NA

8.11

7.08

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
NA

7.27

5.51

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
NA

0.15

0.09

 

 
 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

0.50

0.57

0.23

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

2.19

2.30

2.19

 

 

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

9.990

9.990

9.990

Reserves & Surplus

107.901

118.614

135.662

Net worth

117.891

128.604

145.652

 

 

 

 

long-term borrowings

12.113

45.600

43.540

Short term borrowings

15.357

27.301

29.500

Total borrowings

27.470

72.901

73.040

Debt/Equity ratio

0.233

0.567

0.501

 

 

 

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)

Total Income / Operating Income

279.697

386.163

450.300

 

 

38.065

16.609

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Total Income / Operating Income

279.697

386.163

450.300

Profit

7.090

12.466

18.800

 

2.53%

3.23%

4.17%

 

 

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

No

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

No

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

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%

Yes

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

Yes

33

Market information

----------------------

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

LITIGATION DETAILS

 

 

 

HIGH COURT OF GUJARAT

 

TAX APPEAL No. 1462 of 2007

 

 

Status : PENDING

( Converted from :  ST/2572/2007)

CCIN No :  001092200701462

 

 

Next Listing Date:

22/12/2015

Coram
  • HONOURABLE MS.JUSTICE HARSHA DEVANI
  • HONOURABLE MR.JUSTICE A.G.URAIZEE

 

S.NO.

Name of the Petitioner

Advocate On Record

1

THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 5

MR PRANAV G DESAI for: Appellant(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

 

S.NO.

Name of the Respondant

Advocate On Record

1
2

ORCHEV PHARMA PRIVATE LIMITED

MRS SWATI SOPARKAR for :Opponent(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

 

 

Presented On

: 21/08/2007

Registered On

: 21/08/2007

Bench Category

: - DIVISION BENCH

District

: RAJKOT

Case Originated From

:THROUGH HIS/HER/THEIR ADVOCATE

Listed

: 10 times

Stage Name

: FOR FINAL HEARING

Classification

DB - OJ - TAX APPEAL - INCOME TAX ACT, 1961 - APPEAL TO HIGH COURT - U/S 260 OF IT ACT - LONG TERM CAPITAL GAIN - U/S 54EA

Act

INCOME-TAX ACT, 1961

 

 

 

 

 

 

Office Details

 

S. No.

Filing Date

Document Name

Advocate Name

Court Fee on Document

Document Details

1

15/08/2007

VAKALATNAMA

MR PRANAV G DESAI ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

-

MR PRANAV G DESAI:1

2

15/08/2007

VAKALATNAMA

MRS SWATI SOPARKAR ADVOCATE
for RESPONDENT(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

-

MRS SWATI SOPARKAR:1

3

24/03/2008

VAKALATNAMA

MRS SWATI SOPARKAR ADVOCATE
for RESPONDENT(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

5

MRS SWATI SOPARKAR:1

4

14/09/2012

APPEARANCE NOTE

MR PRANAV G DESAI ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

-

MR PRANAV G DESAI:1

 

 

 

Court Proceedings

 

S. No.

Notified Date

Court Code

Board Sr. No.

Stage

Action

Coram

1

09/01/2008

1

-

FOR FINAL HEARING - TAX MATTERS

RULE/ADMIT

HONOURABLE THE CHIEF JUSTICE Y.R.MEENA 

HONOURABLE MR.JUSTICE J.C.UPADHYAYA

2

24/11/2014

51

490

WARNED LIST - TAX APPEAL

NEXT DATE

HONOURABLE MR.JUSTICE KS JHAVERI 

HONOURABLE MR.JUSTICE K.J.THAKER

3

10/12/2014

5

120

FOR FINAL HEARING

NEXT DATE

HONOURABLE MR.JUSTICE KS JHAVERI 

HONOURABLE MR.JUSTICE K.J.THAKER

4

20/01/2015

3

85

FOR FINAL HEARING

NEXT DATE

HONOURABLE THE ACTING CHIEF JUSTICE MR. JAYANT PATEL 

HONOURABLE MR.JUSTICE KS JHAVERI and HONOURABLE MR.JUSTICE S.H.VORA and HONOURABLE MR.JUSTICE K.J.THAKER

5

03/03/2015

3

86

FOR FINAL HEARING

NEXT DATE

HONOURABLE THE ACTING CHIEF JUSTICE MR. JAYANT PATEL 

HONOURABLE MR.JUSTICE S.H.VORA

6

08/04/2015

4

73

FOR FINAL HEARING

NEXT DATE

HONOURABLE THE ACTING CHIEF JUSTICE MR. JAYANT PATEL 

HONOURABLE MR.JUSTICE M.R. SHAH and HONOURABLE MR.JUSTICE S.H.VORA

7

06/05/2015

3

80

FOR FINAL HEARING

NEXT DATE

HONOURABLE MR.JUSTICE M.R. SHAH 

HONOURABLE MR.JUSTICE S.H.VORA

8

01/07/2015

17

33

FOR FINAL HEARING

NEXT DATE

HONOURABLE MR.JUSTICE M.R. SHAH 

HONOURABLE MR.JUSTICE A.J.DESAI and HONOURABLE MR.JUSTICE S.H.VORA and HONOURABLE MR.JUSTICE A.G.URAIZEE

9

12/08/2015

17

26

FOR FINAL HEARING

NEXT DATE

HONOURABLE MR.JUSTICE A.J.DESAI 

HONOURABLE MR.JUSTICE A.G.URAIZEE

10

30/09/2015

7

81

FOR FINAL HEARING

NEXT DATE

HONOURABLE MS.JUSTICE HARSHA DEVANI 

HONOURABLE MR.JUSTICE A.J.DESAI and HONOURABLE MR.JUSTICE A.G.URAIZEE

11

22/12/2015

7

-

FOR FINAL HEARING

HONOURABLE MS.JUSTICE HARSHA DEVANI 

HONOURABLE MR.JUSTICE A.G.URAIZEE

 

 

Available Orders

 

S. No.

Case Details

Judge Name

Order Date

CAV

Judgement

Questions

Transferred

1

TAX APPEAL/1462/2007

HONOURABLE THE CHIEF JUSTICE Y.R.MEENA 

HONOURABLE MR.JUSTICE J.C.UPADHYAYA

18/01/2008

N

ORDER

-

Y

 

 

 

Certified Copy

 

S. No.

Applicant Name

Application Type

Application Date

UOL Number

Order Date

Notify Date

Delivery Date

Status

Nature Of Document

1

MR BB NAIK

21/01/2008

U/1371/2008

18/01/2008

31/01/2008

01/02/2008

Delivered

ORDER

 

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10258643

19/06/2014 *

78,000,000.00

STATE BANK OF INDIA

DHEBAR ROAD BRANCH, DHEBAR ROAD, RAJKOT - 360001, GUJARAT, INDIA

C09482985

 

* Date of charge modification

 

 

FIXED ASSETS

 

  • Land
  • Electrification
  • Refrigerator
  • Computer
  • Tractor

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 records 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.65.29

UK Pound

1

Rs.99.31

Euro

1

Rs.73.39

 

 

INFORMATION DETAILS

 

Information Gathered by :

DIP

 

 

Analysis Done by :

KIN

 

 

Report Prepared by :

PNM

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILITY 

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

5

--MARGINS

-5~5

---

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

YES

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

YES

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

45

 

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.