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|
MIRA INFORM REPORT
|
Report No. : |
503865 |
|
Report Date : |
14.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
MYLAN PHARMACEUTICALS PRIVATE LIMITED (w.e.f.08.08.2011) |
|
|
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|
Formerly Known
As : |
MYLAN INDIA PRIVATE LIMITED (w.e.f.15.09.2008) MYLAN
DEVELOPMENT CENTRE PRIVATE LIMITED (w.e.f.27.03.2008) MERCK
DEVELOPMENT CENTRE PRIVATE LIMITED (w.e.f.21.03.2002) MERCK DEVELOPMENT CENTRE
(INDIA) PRIVATE LIMITED |
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Registered
Office : |
Plot No. 1-A/2, MIDC, Industrial Area, Taloja, Panvel, Raigad –
410208, Maharashtra |
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Tel. No.: |
91-22-39255555 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
03.03.1997 |
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Com. Reg. No.: |
11-106267 |
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Capital
Investment / Paid-up Capital : |
INR 199.050 Million |
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CIN No.: [Company Identification
No.] |
U73100MH1997PTC106267 |
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IEC No.: [Import-Export Code No.] |
0988008858 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AABCM9323J |
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of trading of pharmaceutical products and renders business support services/ research and development services to group companies. (Registered Activity) |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “Mylan Group BV”, Netherland. It is an
established company incorporated in the year 1997 having satisfactory track
record. The company has registered huge accumulated losses which has eroded
entire networth of the company. However, the rating takes into consideration healthy revenue growth
during FY 2017 and company’s long established track record of business
operation. The company also derives strength from its strong holding entity and
its experienced management team. Trade relations are reported as fair. Business is active. Payment
terms are seems to be slow but correct. In view of the aforesaid, the company can be considered for business
dealings at 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
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
31-03-2018.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 14.04.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED
MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-22-39255555/ 39255514)
LOCATIONS
|
Registered Office : |
Plot No. 1-A/2, MIDC, Industrial Area, Taloja, Panvel, Raigad –
410208, Maharashtra, India |
|
Tel. No.: |
91-22-39255555/ 39255514 |
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Fax No.: |
91-22-27402603/ 23550543 |
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E-Mail : |
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Website : |
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Corporate Office : |
Plot No. 564/A/22, 2nd Floor, Road No. 92 Jubliee Hills,
Hyderabad-500034, Telangana, India |
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Tel. No.: |
91-40-30866666 |
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Fax No.: |
91-40-30866699 |
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E-Mail : |
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|
|
|
|
Bangalore Office : |
Commercial
Operations Prestige Tech Park,
Platina-3, 7th to 12th floor, Prestige Tech Park, Kadubesanahalli, Bangalore
-560103, Karnataka, India |
|
Tel. No.: |
91-80-66728000 |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Susanto Banerjee |
|
Designation : |
Whole Time Director |
|
Address : |
JI003 Spring Field Apartment, Sarjapura Road, Belan Dooru, Bangalore – 560102, Karnataka, India |
|
Date of Birth/Age : |
28.11.1966 |
|
Qualification : |
B.Com(Hons), CA |
|
Date of Appointment : |
30.09.2015 |
|
PAN No.: |
ACZPB6469M |
|
DIN No.: |
00182743 |
|
|
|
|
Name : |
Mr. Rajesh Ullanat |
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Designation : |
Whole Time Director |
|
Address : |
F. No. 10204, Indu Fortune Fields Gardenia, Walnut Block, 2nd Floor, KPHB, JNTU, Hyderabad – 500075, Telangana, India |
|
Date of Birth/Age : |
26.05.1971 |
|
Qualification : |
PhD |
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Date of Appointment : |
16.08.2013 |
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PAN No.: |
AAOPU1065B |
|
DIN No.: |
06723959 |
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|
|
|
Name : |
Mr. Ajay Bhatia |
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Designation : |
Whole Time Director |
|
Address : |
Near Billabong School Flat No:1003, H-1, Wing Phase-2, Bhoomi park, Malad Wes Mumbai 400095 MH IN |
|
Date of Appointment : |
26.02.2018 |
|
DIN No.: |
08074866 |
KEY EXECUTIVES
|
Name : |
Ms. Rekha Lakhotiya |
|
Designation : |
Company Secretary |
|
Address : |
H. No. 20-1-565/1 Gollakhidki, Kabutarkhana,
Hyderabad-500064, Andhra Pradesh, India |
|
Date of Appointment : |
03.12.2015 |
|
PAN No.: |
AFNPL5574J |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Equity Shareholders |
|
No. of Shares |
|
Mylan Group B.V., Netherlands |
|
9999998 |
|
Mylan B.V., Netherlands |
|
2 |
|
Total |
|
10000000 |
|
Names of Preference Shareholder |
|
No. of Shares |
|
Mylan Group B.V - Netherlands |
|
9904986 |
|
Total |
|
9904986 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2017
|
Category |
Percentage |
|
Promoters (Body corporate) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of trading of pharmaceutical products and renders business support services/ research and development services to group companies. (Registered Activity) |
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Products/ Services : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Auditors : |
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|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
ASVN Ramana Tower, 52, Venkatnarayana Road, T Nagar, Chennai – 600017, Tamilnadu, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFD3771D |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : |
Mylan Group B.V., Netherlands |
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Ultimate Holding
Company : |
Mylan N.V., Netherlands |
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Fellow subsidiaries
with whom the Company has transactions: |
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CAPITAL STRUCTURE
As on 29.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
INR 10/- each |
INR 100.000 Million |
|
10000000 |
Preference Shares |
INR 10/- each |
INR 100.000 Million |
|
|
Total
|
|
INR 200.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
INR 10/- each |
INR 100.000 Million |
|
9904986 |
Preference Shares |
INR 10/- each |
INR 99.050 Million |
|
|
Total
|
|
INR 199.050
Million |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
199.050 |
199.050 |
199.050 |
|
(b) Reserves and Surplus |
(2847.210) |
(2277.530) |
(1585.840) |
|
(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) |
(2648.160) |
(2078.480) |
(1386.790) |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
19.370 |
17.460 |
23.190 |
|
Total Non-current
Liabilities (3) |
19.370 |
17.460 |
23.190 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
2170.120 |
2613.070 |
1591.510 |
|
(b) Trade
payables |
1553.370 |
1100.620 |
600.370 |
|
(c) Other
current liabilities |
605.930 |
622.730 |
402.910 |
|
(d) Short-term
provisions |
3.070 |
3.070 |
3.070 |
|
Total Current
Liabilities (4) |
4332.490 |
4339.490 |
2597.860 |
|
|
|
|
|
|
TOTAL |
1703.700 |
2278.470 |
1234.260 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
435.710 |
436.640 |
466.940 |
|
(ii)
Intangible Assets |
11.420 |
15.650 |
4.830 |
|
(iii) Tangible assets
capital work-in-progress |
0.560 |
26.540 |
6.530 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
33.450 |
24.760 |
37.920 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
481.140 |
503.590 |
516.220 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
451.650 |
342.440 |
225.870 |
|
(c) Trade
receivables |
633.710 |
1256.080 |
343.120 |
|
(d) Cash and
bank balances |
34.530 |
24.380 |
1.950 |
|
(e)
Short-term loans and advances |
102.670 |
151.980 |
147.100 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
1222.560 |
1774.880 |
718.040 |
|
|
|
|
|
|
TOTAL |
1703.700 |
2278.470 |
1234.260 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
4437.480 |
2965.670 |
1382.390 |
|
|
Other Income |
33.930 |
0.040 |
7.830 |
|
|
TOTAL |
4471.410 |
2965.710 |
1390.220 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
0.000 |
0.000 |
0.000 |
|
|
Purchases of
Stock-in-Trade |
2000.610 |
1180.890 |
547.750 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(109.210) |
(116.570) |
(106.450) |
|
|
Employee benefit expense |
1616.050 |
1359.380 |
783.270 |
|
|
Other expenses |
1183.900 |
936.720 |
696.590 |
|
|
TOTAL |
4691.350 |
3360.420 |
1921.160 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
(219.940) |
(394.710) |
(530.940) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
274.360 |
234.860 |
164.150 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(494.300) |
(629.570) |
(695.090) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
75.380 |
62.120 |
54.600 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(569.680) |
(691.690) |
(749.690) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
(8.100) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(569.680) |
(691.690) |
(741.590) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
Export of goods calculated on FOB basis |
69.710 |
5.580 |
9.090 |
|
|
Sale of services |
1484.150 |
1340.340 |
674.090 |
|
|
Other operating revenue |
56.550 |
51.640 |
51.640 |
|
|
TOTAL EARNINGS |
1610.410 |
1397.560 |
734.820 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Traded Goods |
621.470 |
407.240 |
228.670 |
|
|
Components and spares |
1.560 |
2.210 |
5.490 |
|
|
Capital Goods |
33.240 |
22.760 |
0.000 |
|
|
TOTAL IMPORTS |
656.270 |
432.210 |
234.16 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share
(INR) |
(56.97) |
(69.17) |
(74.16) |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
794.980 |
(711.350) |
(320.130) |
|
Net cash flow from operating activity |
779.000 |
(711.350) |
(320.130) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
52.13 |
154.59 |
90.60 |
|
|
|
|
|
|
Account Receivables Turnover ( Income / Sundry Debtors) |
7.00 |
2.36 |
4.03 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
283.40 |
340.19 |
400.06 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
(0.49) |
(1.15) |
(2.35) |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
(0.49) |
(0.82) |
(1.11) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
2.54 |
1.90 |
2.10 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
(0.82) |
(1.26) |
(1.15) |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
(1.64) |
(2.09) |
(1.87) |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
(0.17) |
(0.23) |
(0.34) |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
(0.80) |
(1.68) |
(3.23) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales)
* 100] |
% |
(12.84) |
(23.32) |
(53.65) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(33.44) |
(30.36) |
(60.08) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
21.51 |
33.28 |
53.48 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.28 |
0.41 |
0.28 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.18 |
0.33 |
0.19 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
(1.55) |
(0.91) |
(1.12) |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
10.90 |
13.13 |
8.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.28 |
0.41 |
0.28 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
199.050 |
199.050 |
199.050 |
|
Reserves & Surplus |
(1585.840) |
(2277.530) |
(2847.210) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
(1386.790) |
(2078.480) |
(2648.160) |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
1591.510 |
2613.070 |
2170.120 |
|
Total
borrowings |
1591.510 |
2613.070 |
2170.120 |
|
Debt/Equity
ratio |
(1.148) |
(1.257) |
(0.819) |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
1382.390 |
2965.670 |
4437.480 |
|
|
|
114.532 |
49.628 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
1382.390 |
2965.670 |
4437.480 |
|
Profit/ (Loss) |
(741.590) |
(691.690) |
(569.680) |
|
|
(53.65
%) |
(23.32
%) |
(12.84
%) |
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 |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
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) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
21 |
Banking facility details |
No |
|
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 three 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 |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: The Registered Office of the company has been shifted from One India
Bulls Centre, Tower 2-B, 7th Floor, 841, Senapati Bapat Marg,
Elphinstone Road (West), Mumbai-400013, Maharashtra, India to the present
address w.e.f 30.06.2011
CORPORATE OVERVIEW
The Company is engaged in the business of trading of pharmaceutical products and renders business support services/ research and development services to group companies. The Company is a subsidiary of Mylan Group B.V., Netherlands and the ultimate holding company is Mylan N.V., Netherlands.
REVIEW OF OPERATIONS:
During the year under review, the Company has earned Total Income of INR 4471.410 million as against INR 2965.710 million in the previous year. The Company incurred a net loss of INR 569.680 million for the current year as against INR 691.690 million in the previous year and the management is working towards generating more income and reducing losses in future.
UNSECURED LOAN
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Short-term
borrowings |
|
|
|
Loans and advances from related parties |
2170.120 |
2613.070 |
|
|
|
|
|
Total |
2170.120 |
2613.070 |
INDEX
OF CHARGES
No Charges Exists for Company
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Income tax and Indirect taxes claims disputed by the Company relating to issues of applicability and classification |
70.560 |
57.950 |
FIXED ASSETS
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No 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
|
INR |
|
US Dollar |
1 |
INR 65.22 |
|
|
1 |
INR 92.77 |
|
Euro |
1 |
INR 80.34 |
INFORMATION DETAILS
|
Information
Gathered by : |
AKS |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SUD |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.