MIRA INFORM REPORT

Report No. :	504835
Report Date :	19.04.2018

IDENTIFICATION DETAILS

Name :	SAHAJANAND MEDICAL TECHNOLOGIES PRIVATE LIMITED
Registered Office :	Sahajanand Estate, Wakharia Wadi, Near Dabholi Char Rasta, Nani Ved, Ved Road, Surat-395004, Gujarat
Tel. No.:	91-261-3060606
Country :	India
Financials (as on) :	31.03.2016
Date of Incorporation :	18.10.2001
Com. Reg. No.:	04-040121
Capital Investment / Paid-up Capital :	INR 49.384 Million
CIN No.: [Company Identification No.]	U33119GJ2001PTC040121
IEC No.: [Import-Export Code No.]	Not Divulged
TAN No.: [Tax Deduction & Collection Account No.]	SRTS00849C
TIN No.:	24220601059
GSTN : [Goods & Service Tax Registration No.]	24AAFCS7694L1ZO
PAN No.: [Permanent Account No.]	AAFCS7694L
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Supplier of medical and dental instruments. [Registered Activity] Manufacturer and Supplier of Medical and Dental Instruments like Dilation Catheters and Y-Adopter, Inflation Derives, Aspiration Catheters. (Confirmed by management)
No. of Employees :	85 (Approximately)

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Maximum Credit Limit :	USD 1300000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Exist
Comments :	Subject was incorporated in the year 2001. It is a manufacturer and supplier of dental instruments. Management has not filed its financial record with government department for the year 2017 and same are not available from any other sources. As per the financial records for the financial year 2016, the company has achieved 64.46% growth in its revenue as compared to the previous year and has earned favourable profitability margin of 16.32%. The company possesses healthy financial position marked by adequate networth base along with low debt level and satisfactory liquidity position. Rating is constrained on account of absence of latest financial records of the company. Business is active. Payments are reported to be usually correct. In view of aforesaid, 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.

ECGC Country Risk Classification List

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long Term Loans (BBB+)
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	08.07.2017

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 19.04.2018.

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 PARTED BY (GENERAL INFORMATION)

Name :	Mr. Divyesh
Designation :	Marketing Manager
Contact No.:	91-9033790647
Date :	17.04.2018

LOCATIONS

Registered / Corporate Office/ Factory :	Sahajanand Estate, Wakharia Wadi, Near Dabholi Char Rasta, Nani Ved, Ved Road, Surat-395004, Gujarat, India
Tel. No.:	91-261-3060606
Mobile No.:	91-9033790647 (Mr. Divyesh)
Fax No.:	91-261-3060607
E-Mail :	dlalkotadia@sahmed.com contact@sahmed.com flora.das@sahmed.com
Website :	http://smtpl.com
Location :	Owned
Locality :	Industrial
Branch Address :	415, C – Wing, Kankia Atrium, Next to Courtyard Marriot, Andheri Kurla Road, AAI Colony, J B Nagar, Andheri (East), Mumbai-400059, Maharashtra, India

DIRECTORS

As on 31.03.2017

Name :

Mr. Dhirajlal Vallabhbhai Kotadia

Designation :

Director

Address :

43, Narayanmuni Nagar, Near Swaminarayan Gurukul, Ved Road, Surat – 395 004, Gujarat, India

Date of Birth/Age :

01.01.1958

PAN No:

ADWPK8028P

Qualification:

B.E.

Date of Appointment :

25.03.2004

DIN No.:

00013035

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U24231GJ2001PTC039726	SAHAJANAND LIFE SCIENCES PRIVATE LIMITED.	02/07/2001	-
U33120GJ2010PTC063150	ANGIOMETRIX MEDEQUIPS INDIA PRIVATE LIMITED	06/12/2010	-
U36912GJ1999PTC035792	SAHAJANAND VASCULAR TECHNOVENTIONS PRIVATE LIMITED	16/04/1999	-
U72900GJ1993PTC019133	SAHAJANAND TECHNOLOGIES PRIVATE LIMITED	25/03/2004	-
U85110GJ2000PLC037625	SAHAJANAND HEALTHCARE LIMITED	24/01/2003	-
U85110GJ2011PTC067523	SUAYU HEALTH RESORTS PRIVATE LIMITED	18/10/2011	-

Name :

Mr. Dhirajkumar Savjibhai Vasoya

Designation :

Director

Address :

AB-12/13, Raghuvir Soc Umara, Surat-395007, Gujarat, India

Date of Birth/Age :

03.04.1962

PAN No:

ABDPV6538Q

Qualification:

B. Com

Date of Appointment :

12.05.2006

DIN No.:

00013067

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U24231GJ2001PTC039726	SAHAJANAND LIFE SCIENCES PRIVATE LIMITED.	19/08/2002	-
U29199GJ1997PTC032545	SHIV LASER TECH PRIVATE LIMITED	10/09/2009	-
U33120GJ2010PTC063150	ANGIOMETRIX MEDEQUIPS INDIA PRIVATE LIMITED	06/12/2010	-
U36912GJ1999PTC035792	SAHAJANAND VASCULAR TECHNOVENTIONS PRIVATE LIMITED	31/05/1999	-
U36939GJ1998PTC034244	SAHAJANAND DIAMONDS PRIVATE LIMITED	12/05/2006	-
U72900GJ1993PTC019133	SAHAJANAND TECHNOLOGIES PRIVATE LIMITED	01/10/2008	-
U85110GJ2000PLC037625	SAHAJANAND HEALTHCARE LIMITED	24/01/2003	-
U85110GJ2011PTC067523	SUAYU HEALTH RESORTS PRIVATE LIMITED	18/10/2011	-
U91110GJ2000NPL039065	GUJARAT HIRA BOURSE	28/09/2014	-

Name :

Mr. Bhargav Dhirajlal Kotadia

Designation :

Director

Address :

Plot No. 43 to 45, Narayan Muni Nagar Society, Nani Ved, Ved Road, Surat – 395004, Gujarat, India

Date of Birth/Age :

27.09.1990

PAN No:

DAPPK9753Q

Qualification:

B. Com

Date of Appointment :

01.12.2017

DIN No.:

06575042

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U24231GJ2001PTC039726	SAHAJANAND LIFE SCIENCES PRIVATE LIMITED.	27/09/2013	-
U72900GJ1993PTC019133	SAHAJANAND TECHNOLOGIES PRIVATE LIMITED	28/09/2013	-

Name :

Mr. Gautam Gode

Designation :

Director

Address :

139, Madan Lal Block, Asian Games Village Complex, New Delhi – 110049, India

Date of Birth/Age :

06.02.1968

Date of Appointment :

28.12.2016

DIN No.:

01709758

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U52311DL2004PTC127661	GUARDIAN NUTRITION AND HEALTH SUPPLEMENTS PRIVATE LIMITED	30/11/2015	-
U74140DL2006PTC156551	SAMARA INDIA ADVISORS PRIVATE LIMITED	05/02/2007	-
U74999KA2015PTC102769	MENTERRA VENTURE ADVISORS PRIVATE LIMITED	31/10/2016	-
U74999MH2016PTC282420	GUARDIAN NUTRITION AND HEALTHCARE PRIVATE LIMITED	04/12/2017	-

Name :

Mr. Abhishek Rajendrakumar Kabra

Designation :

Director

Address :

205, Grandeur Tower, Vasant Marvel Complex, Off W.E. Highway, Borivali (East), Mumbai-400066, Maharashtra, India

Date of Birth/Age :

19.12.1980

Date of Appointment :

28.12.2016

DIN No.:

06782685

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U33110MH2005PTC156940	LOTUS SURGICALS PRIVATE LIMITED	30/09/2014	-
U40101MH2008PTC185357	OILMAX ENERGY PRIVATE LIMITED	30/09/2016	-
U74120MH2013PTC240122	LOTUS SURGICAL SPECIALITIES PRIVATE LIMITED	30/09/2014	-
U85100TG2011PTC072383	SAHRUDAYA HEALTH CARE PRIVATE LIMITED	15/05/2017	-
U85100TG2011PTC072383	SAHRUDAYA HEALTH CARE PRIVATE LIMITED	18/05/2017	-

Name :

Mr. Harivadan Jagadish Pandya

Designation :

Additional Director

Address :

5304, Gordon Dr. Centre, Villee Va 201204147 United States

Date of Appointment :

30.12.2017

DIN No.:

07729738

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U24231GJ2001PTC039726	SAHAJANAND LIFE SCIENCES PRIVATE LIMITED.	30/09/2017	-
U72900GJ1993PTC019133	SAHAJANAND TECHNOLOGIES PRIVATE LIMITED	30/09/2017	-

Name :

Mr. Ganesh Prasad Sabat

Designation :

Director

Address :

D/12/8, Palm Avenue, New VIP Road Vesu, Surat – 395007, Gujarat, India

Date of Appointment :

03.01.2018

DIN No.:

07983480

Name :

Mr. Mohit Jhawar

Designation :

Director

Address :

82, Valencia Apartments, S V Road, Near Khar Subway, Opposite Dominos, Santacruz West, Mumbai - 400054, Maharashtra, India

Date of Appointment :

03.01.2018

DIN No.:

08017866

KEY EXECUTIVES

Name :	Mr. Divyesh
Designation :	Marketing Manager
Name :	Mr. Flora Krishna Das
Designation :	Company Secretary
Address :	C/201, Laxmi Narayan Apartment, Near Vijaya Bank Jesal Park, Bhayandar (East) Thane – 401105, Maharashtra, India
Date of Appointment :	19.07.2017
PAN No.:	ALXPD8563B

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.03.2016

NOTE: SHAREHOLDING DETAILS FILE ATTACHED

Equity Share Break up (Percentage of Total Equity)

As on: 30.09.2016

Category	Percentage
Promoters – Individual/Hindu Undivided Family (Indian)	97.76
Promoters – Individual/Hindu Undivided Family (Foreign national (other than NRI))	0.10
Promoters – Bodies corporate	2.14
Total	100.00

BUSINESS DETAILS

Line of Business :

• Manufacturer and Supplier of medical and dental instruments. [Registered Activity]

• Manufacturer and Supplier of Medical and Dental Instruments like Dilation Catheters and Y-Adopter, Inflation Derives, Aspiration Catheters. (Confirmed by management)

Products :

ITC Code No.	Product Descriptions
3250	Medical and dental instruments and supplies

Brand Names :

Not Divulged

Agencies Held :

Not Divulged

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Selling :

Advance Payment and Cheque, NEFT

Purchasing :

Advance Payment and Cheque, NEFT

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark:	--

Customers :

Manufacturer and Medical Instruments

Reference :	Not Divulged
Name of the Person :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark:	--

No. of Employees :

85 (Approximately)

Bankers :

Bank Name	Punjab National Bank
Branch	Textile Market Branch, Ring Road, Surat - 395002, Gujarat, India
Person Name (With Designation)	--
Contact Number	--
Name of Account Holder	--
Account Number	--
Account Since (Date/Year of Account Opening)	--
Average Balance Maintained (If Possible)	--
Credit Facilities Enjoyed (If any)	--
Account Operation	--
Remarks (If any)	--

· Bank of Baroda, Sayedpura Branch, Sayedpura, Surat - 395003, Gujarat, India

· ICICI Bank Limited, ICICI Bank Tower, Near Chakli Circle, Old Padra Road, Vadodara-390007, Gujarat, India

· The Sutax Co-Operative Bank Limited, 2nd Floor, Surbhi Complex, Near Poona Octror Naka, Paravat Patia, Surat-394210, Gujarat, India

· Indusind Bank Limited, G-2, Empire State Building, Near Udhana Darwaja, Ring Road,, Surat - 395002, Gujarat, India

Facilities :

Secured Loan	31.03.2016 (INR in Million)	31.03.2015 (INR in Million)
Long-term Borrowings
Foreign currency term loans from Banks	13.932	18.234
Loans repayable on demand	12.023	29.779
Borrowing from government semi-government bodies	30.839	29.403
Loans taken for fixed assets	0.977	0.159
Short-term borrowings
Foreign currency term loans from banks	5.393	5.089
Working capital loans from banks	106.520	196.079
Loans repayable on demand from banks	18.034	61.600
Other loans and advances	134.423	16.343
Total	322.141	356.686

Financial institutions:	Biotechnology Industry Research Assistance Council, A-254, Bhisham Pitamah Marg, Defence Colony, New Delhi-110024, India
Auditors :
Name :	Surendra Shah and Associates Chartered Accountants
Address :	7006, 7th Floor, World Trade Centre, Near Udhna Darwaja, Ring Road, Surat-395002, Gujarat, India
Tel. No.:	91-261-2353774/ 2302346/ 3912346/ 6662346
Mobile No.:	91-9374715151
Fax No.:	91-261-2334427
E-Mail :	carajeshshah7006@gmail.com
Income-tax PAN of auditor or auditor's firm :	AAJFS8458H
Memberships :	Not Available
Collaborators :	Not Available
Others Related Parties :	Sahajanand Technologies Private Limited U72900GJ1993PTC019133) Sahajanana Life Sciences Private Limited (Division SS International) U24231GJ2001PTC039726

CAPITAL STRUCTURE

After 30.09.2016

Authorised Capital : INR 100.000 Million

Issued, Subscribed & Paid-up Capital : INR 80.706 Million

As on 31.03.2016

Authorised Capital :

No. of Shares	Type	Value	Amount
100000000	Equity Shares	INR 1/- each	INR 100.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
49383700	Equity Shares	INR 1/- each	INR 49.384 Million

FINANCIAL DATA

[all figures are in INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2016	31.03.2015	31.03.2014
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	49.384	49.384	49.384
(b) Reserves and Surplus	396.733	232.624	201.247
(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)	446.117	282.008	250.631
(3) Non-Current Liabilities
(a) long-term borrowings	57.771	111.137	100.396
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long-term liabilities	10.686	10.702	21.083
(d) long-term provisions	5.558	4.384	2.719
Total Non-current Liabilities (3)	74.015	126.223	124.198
(4) Current Liabilities
(a) Short-term borrowings	264.370	279.111	161.246
(b) Trade payables	19.586	22.631	73.785
(c) Other current liabilities	28.306	18.406	32.390
(d) Short-term provisions	115.340	39.614	32.332
Total Current Liabilities (4)	427.602	359.762	299.753
TOTAL	947.734	767.993	674.582
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	156.354	151.472	120.300
(ii) Intangible Assets	1.464	3.592	7.383
(iii) Tangible assets capital work-in-progress	0.000	0.000	77.877
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.016	0.024	0.023
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term loans and advances	50.728	48.300	63.343
(e) Other Non-current assets	13.021	16.021	14.761
Total Non-Current Assets	221.583	219.409	283.687
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	159.505	103.834	109.577
(c) Trade receivables	443.837	318.556	238.467
(d) Cash and bank balances	49.306	97.530	16.992
(e) Short-term loans and advances	46.250	16.354	16.607
(f) Other current assets	27.253	12.310	9.252
Total Current Assets	726.151	548.584	390.895
TOTAL	947.734	767.993	674.582

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2016	31.03.2015	31.03.2014
	SALES
	Total Revenue from operations	1005.851	611.620	484.147
	Other Income	2.136	4.248	1.049
	TOTAL	1007.987	615.868	485.196
Less	EXPENSES
	Cost of Materials Consumed	131.689	132.347	162.123
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(26.318)	11.057	(28.492)
	Employee benefit expense	200.284	134.302	104.259
	Prior Period Expense	0.000	0.000	1.794
	Other expenses	399.076	201.198	157.900
	TOTAL	704.731	478.904	397.584
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	303.256	136.964	87.612
Less	FINANCIAL EXPENSES	48.432	36.570	21.966
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	254.824	100.394	65.646
Less/ Add	DEPRECIATION/ AMORTISATION	45.319	61.042	43.300
	PROFIT/ (LOSS) BEFORE TAX	209.505	39.352	22.346
Less	TAX	45.400	7.975	4.475
	PROFIT/ (LOSS) AFTER TAX	164.105	31.377	17.871
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	211.952	180.575	162.704
	Balance Carried to the B/S	376.056	211.952	180.575
	EARNINGS IN FOREIGN CURRENCY
	F.O.B. Value of Exports	214.896	129.852	127.635
	TOTAL EARNINGS	214.896	129.852	127.635
	IMPORTS
	FOB Value		119.999	148.597
	Custom Duty		3.946	8.022
	Freight, Insurance and Clearing Forwarding Expenses		4.067	4.660
	TOTAL IMPORTS	NA	128.012	161.279
	Earnings / (Loss) Per Share (INR)	3.32	0.64	0.36

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2016	31.03.2015	31.03.2014
Current Maturities of Long term debt	NA	NA	NA
Net cash flows from (used in) operations	122.492	99.431	77.093
Net cash flows from (used in) operating activities	102.492	93.431	72.593

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Average Collection Days (Sundry Debtors / Income * 365 Days)	161.06	190.11	179.78
Account Receivables Turnover (Income / Sundry Debtors)	2.27	1.92	2.03
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	54.29	62.41	166.12
Inventory Turnover (Operating Income / Inventories)	1.90	1.32	0.80
Asset Turnover (Operating Income / Net Fixed Assets)	1.92	0.88	0.43

LEVERAGE RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.51	0.61	0.59
Debt Equity Ratio (Total Liability / Networth)	0.72	1.38	1.04
Current Liabilities to Networth (Current Liabilities / Net Worth)	0.96	1.28	1.20
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.35	0.55	0.82
Interest Coverage Ratio (PBIT / Financial Charges)	6.26	3.75	3.99

PROFITABILITY RATIOS

PARTICULARS		31.03.2016	31.03.2015	31.03.2014
Net Profit Margin (PAT / Sales) * 100)	%	16.32	5.13	3.69
Return on Total Assets ((PAT / Total Assets) * 100)	%	17.32	4.09	2.65
Return on Investment (ROI) ((PAT / Networth) * 100)	%	36.79	11.13	7.13

SOLVENCY RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Current Ratio (Current Assets / Current Liabilities)	1.70	1.52	1.30
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	1.33	1.24	0.94
G-Score Ratio Financial (Networth / Total Assets)	0.47	0.37	0.37
G-Score Ratio Debt (Debts / Equity Capital)	6.52	7.90	5.30
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.70	1.52	1.30

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	31.03.2014	31.03.2015	31.03.2016
	INR In Million	INR In Million	INR In Million
Share Capital	49.384	49.384	49.384
Reserves & Surplus	201.247	232.624	396.733
Net worth	250.631	282.008	446.117
Long-term borrowings	100.396	111.137	57.771
Short term borrowings	161.246	279.111	264.370
Total borrowings	261.642	390.248	322.141
Debt/Equity ratio	1.044	1.384	0.722

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2014	31.03.2015	31.03.2016
	INR In Million	INR In Million	INR In Million
Sales	484.147	611.620	1005.851
		26.329	64.457

NET PROFIT MARGIN

Net Profit Margin	31.03.2014	31.03.2015	31.03.2016
	INR In Million	INR In Million	INR In Million
Sales	484.147	611.620	1005.851
Profit/ (Loss)	17.871	31.377	164.105
	3.69%	5.13%	16.32%

LEGAL CASES

HIGH COURT OF GUJARAT

TAX APPEAL No. 728 of 2017

Status : PENDING

( Converted from : O/ST/1956/2017 )

CCIN No : 001092201700728

Last Listing Date:

25/09/2017

Coram

· HONOURABLE MR.JUSTICE AKIL KURESHI · HONOURABLE MR.JUSTICE BIREN VAISHNAV

S.NO.	Name of the Petitioner	Advocate On Record
1	PR. COMMISSIONER OF INCOME TAX-2	MRS KALPANAK RAVAL for: Appellant(s) 1

S.NO.	Name of the Respondant	Advocate On Record
1	SAHAJANAND MEDICAL TECHNOLOGIES PVT. LTD.	RULE NOT RECD BACK for :Opponent(s) 1 RULE SERVED for :Opponent(s) 1

Presented On	: 15/09/2017	Registered On	: 20/09/2017
Bench Category	: DIVISON BENCH	District	: SURAT
Case Originated From	: THROUGH HIS/HER/THEIR ADVOCATE	Listed	: 0 times
StageName	: ADMISSION ( FRESH MATTERS )

Classification	DB - OJ - TAX APPEAL - INCOME TAX ACT, 1961 - APPEAL TO HIGH COURT - U/S 260A
Act	INCOME-TAX ACT, 1961

Other Forums

S.No.	CASEDETAILS	TRIBUNAL REFERRENCE	ORDER PASSED BY	JUDGEMENT DATE	PLACE
1	ITA NO. 153/AHD/2013	INCOME TAX APPELLATE TRIBUNAL, AHMEDABAD B BENCH	MEMBERS	17/01/2017	SURAT
Office Details

S. No.	Filing Date	Document Name	Advocate Name	Court Fee on Document	Document Details
1	15/09/2017	APPEARANCE NOTE	MRS MAUNA M BHATT ADVOCATE for PETITIONER(s) 1	0	MRS MAUNA M BHATT(174) for P:1
2	15/09/2017	MEMO OF PETITION/APPEAL/SUIT	MRS MAUNA M BHATT ADVOCATE for PETITIONER(s) 1	20	MRS MAUNA M BHATT(174), for P:1
3	20/09/2017	ADDITIONAL FEE ON CERTIFIEDCOPY	MRS MAUNA M BHATT ADVOCATE for PETITIONER(s) 1	0	MRS MAUNA M BHATT(174) for P:1
4	20/09/2017	CERTIFIED COPY	MRS MAUNA M BHATT ADVOCATE for PETITIONER(s) 1	6	MRS MAUNA M BHATT(174) for P:1
5	13/12/2017	APPEARANCE NOTE	MRS KALPANAK RAVAL ADVOCATE for PETITIONER(s) 1	0	MRS KALPANAK RAVAL(1046) for P:1
Court Proceedings

S. No.	Notified Date	CourtCode	Board Sr. No.	Stage	Action	Coram
1	25/09/2017	3	11	URGENT ADMISSION ( FRESH MATTERS )	RULE/ADMIT	· HONOURABLE MR.JUSTICE AKIL KURESHI · HONOURABLE MR.JUSTICE BIREN VAISHNAV
Available Orders

S. No.	Case Details	Judge Name	Order Date	CAV	Judgement	Questions	Transferred	Download
1	TAX APPEAL/728/2017	HONOURABLE MR.JUSTICE AKIL KURESHI HONOURABLE MR.JUSTICE BIREN VAISHNAV	25/09/2017	N	ORDER	-	Y	Download

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	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)	Yes
16	No. of employees	Yes
17	Details of sister concerns	Yes
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 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	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

NOTE: The Registered Office of the company has been shifted from “304, Sahajanand House, Parsi Street, Saiyedpura, Surat-395003, Gujarat, India” to the present address w.e.f 29.04.2011.

STATE OF COMPANY’S AFFAIRS:

The Company has made profit of INR 164.104 million during the financial year 2015-16 and hence, the financial position of company is satisfactory. The company is hopeful that the market will pick up in the future years and the Company will gain more in near future.

UNSECURED LOAN

PARTICULARS	31.03.2016 (INR in Million)	31.03.2015 (INR in Million)
Long-term Borrowings
Loans and advances from others	0.000	33.562
Total	0.000	33.562

INDEX OF CHARGES:

SNo	SRN	Charge Id	Charge Holder Name	Date of Creation	Date of Modification	Date of Satisfaction	Amount	Address
1	G24075129	10550921	ICICI BANK LIMITED	29/01/2015	25/10/2016	-	395000000.0	ICICI Bank Tower, Near Chakli Circle,Old Padra RoadVadodaraGu390007IN
2	C00829879	10485855	BIOTECHNOLOGY INDUSTRY RESEARCH ASSISTANCE COUNCIL	14/03/2014	-	-	49529000.0	A-254, BHISHAM PITAMAH MARGDefence Colony,NEW DELHIDL110024IN
3	G00890442	10419245	INDUSIND BANK LIMITED	08/03/2013	18/02/2016	-	99961000.0	G-2, EMPIRE STATE BLDG.,NEAR UDHANA DARWAJA, RING ROAD,SURATGJ395002IN
4	B72966484	10286514	BANK OF BARODA	04/05/2011	-	25/03/2013	150000000.0	SAYEDPURA BRANCHSAYEDPURASURATGJ395003IN
5	B12608873	80001233	PUNJAB NATIONAL BANK	27/12/2004	30/03/2006	17/05/2011	250000000.0	TEXTILE MARKET BRANCH, RING ROADSURATGJ395002IN
6	B12609152	90107037	PUNJAB NATIONAL BANK	27/12/2004	30/03/2006	17/05/2011	250000000.0	TEXTILE MARKET BRANCHRING ROADSURATGJ395002IN
7	A32876674	10060153	ICICI BANK LIMITED	06/07/2007	-	26/02/2008	300000000.0	LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGJ390015IN
8	Y10196596	90106904	THE SUTAX CO-OPERATIVE BANK LIMITED	29/03/2004	22/06/2004	21/03/2006	9400000.0	2ND FLOOR,SURBHI COMPLEX,; NEAR POONA OCTROR NAKA;PARAVAT PATIASURATGJ394210IN

FIXED ASSETS

Tangible Assets

· Land

· Buildings

· Plant and Equipment

· Furniture and Fixtures

· Vehicles

· Office Equipment

· Computer Equipments

· Electrical Installation

· Leasehold improvements

Intangible Assets

· Computer software

· Patents

PRESS RELEASE

SMT WINS TENDERS AT FIVE BRAZILIAN HOSPITALS

SMT has succeeded in bagging prestigious tenders amongst Brazilian hospitals for the distribution of stents.

Mumbai, 09th April 2018: SMT (Sahajanand Medical Technologies Pvt. Ltd.) has succeeded in bagging prestigious tenders amongst Brazilian hospitals for the distribution of stents. The Indian stent manufacturer won tenders at five hospitals including the Army General Hospital, after rigorous examinations and regulatory processes. The alliance will accelerate SMT’s goal towards providing affordable and quality stents for the millions of people suffering from heart disease worldwide.

Speaking about the remarkable feat, Rahul Garud, Senior Business Manager – Brazil, International Sales, SMT, said, “It is a matter of great pride that SMT products have been accepted in all the five hospitals. Getting substantial orders from the Army General hospital and Health Secretary for State of Brasilia DF ( Government Hospital in Capital of Brazil) after a transparent and very thorough process of evaluation gives great confidence on the quality of SMT products which are backed by Supra family of clinical data published in various index International Journals. SMT has been in Brazil for more than a decade and is now gaining acceptance at the highest level.”

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	INR
US Dollar	1	INR 65.68
UK Pound	1	INR 93.98
Euro	1	INR 81.30

INFORMATION DETAILS

Information Gathered by :	RBY
Analysis Done by :	NYT
Report Prepared by :	SUJ

SCORE FACTORS

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	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)

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.