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|
MIRA INFORM REPORT
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Report No. : |
500539 |
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Report Date : |
31.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
PRIME PHARMACEUTICALS PRIVATE LIMITED (w.e.f. 21.05.2015) |
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Formerly Known
As : |
PRIME PHARMACEUTICALS LIMITED |
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Registered
Office : |
5, Sukh Shanti 65, Nutanlakshmi Society, North South Road, Vile Parle
(West), Mumbai – 400049, Maharashtra |
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Tel. No.: |
91-22-61471800 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
11.09.1995 |
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Com. Reg. No.: |
11-092543 |
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Capital Investment
/ Paid-up Capital : |
INR 4.999 Million |
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|
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CIN No.: [Company Identification
No.] |
U24231MH1995PTC092543 |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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TIN No.: |
27700379318 |
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|
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PAN No.: [Permanent Account No.] |
AABCP6584G |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Divulged |
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GSTN : [Goods & Service Tax
Registration No.] |
27AABCP6584G1Z5 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
· Contract Manufacturing and Exports of Pharmaceuticals Products · Wholesaler of Pharmaceuticals and Medical Goods (Registered Activity) |
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No. of Employees
: |
Not Divulged |
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 |
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Maximum Credit Limit : |
USD 74000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1995 having satisfactory track record. It is contract manufacturer, exporter and wholesaler of pharmaceuticals products. For the financial year 2017, the revenue of the company has sharply decline by 44.37% as compared to its previous year and reflecting negative result driven by high operating expense. The company possesses satisfactory financial risk profile marked by acceptable net worth base and strong debt protection metrics. Rating continue to derive strength from its long and established track record of its business operations backed by its extensive experience of its promoters in pharmaceutical industry. However, these rating strength gets partially offset by working capital intensive nature of operations, inherent commodity price risk associated with its trading operations, regulatory policy and competitive pharmaceutical industry. Payment seems to be slow but correct. In view of aforesaid, the company can be considered for business dealing 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.
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 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
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Rating |
Not Available |
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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
31-03-2016.
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 31.03.2018
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 DECLINED BY
|
Name : |
Mr. Pranav |
|
Designation : |
Accounts Department |
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Contact No.: |
91-22-61471800 |
|
Date : |
28.03.2018 |
LOCATIONS
|
Registered Office : |
5, Sukh Shanti 65, Nutanlakshmi Society, North South Road, Vile Parle
(West), Mumbai – 400049, Maharashtra, India |
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Tel. No.: |
91-22-61471800 |
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Fax No.: |
91-22-61471810 |
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E-Mail : |
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Website : |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Devang Subodh Thakar |
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Designation : |
Director |
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Address : |
B-11, Sardar Patel Society, Nehru Road, Vile Parle (East), Mumbai-400057, Maharashtra, India |
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Date of Birth/Age : |
18.08.1962 |
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Date of Appointment : |
02.04.1998 |
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DIN No.: |
01029447 |
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Name : |
Mr. Anilkumar Vadilal Vora |
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Designation : |
Director |
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Address : |
5, Puspha Kunj, 6th N.S.Road, J.V.P.D. Vile Parle (West), Mumbai-400056, Maharashtra, India |
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Date of Birth/Age : |
20.12.1942 |
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Date of Appointment : |
11.09.1995 |
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DIN No.: |
01187443 |
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Name : |
Mr. Ashish Vora |
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Designation : |
Director |
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Address : |
Abhinandan, 65 Presidency Society, N.S. Road No.6, Vile Parle (West), Mumbai-400056, Maharashtra, India |
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Date of Birth/Age : |
18.09.1973 |
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Date of Appointment : |
11.09.1995 |
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DIN No.: |
01555238 |
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Other Directorship:
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Name : |
Mr. Manish Patel |
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Designation : |
Director |
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Address : |
8/1, Sarat Bose Road, Ashirwad, Flat No.5B, Kolkata-700020, West Bengal, India |
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Date of Birth/Age : |
08.10.1956 |
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Date of Appointment : |
02.04.1998 |
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DIN No.: |
02498588 |
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KEY EXECUTIVES
|
Name : |
Mr. Pranav |
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Designation : |
Accounts Department |
MAJOR SHAREHOLDERS
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Anilkumar Vadilal Vora |
|
1000 |
|
Ambrisha A. Vora |
|
1000 |
|
Ashish A. Vora |
|
406000 |
|
Amishi A. Vora |
|
84000 |
|
Manish Patel |
|
2500 |
|
Archana Samir Desai |
|
2600 |
|
Samlr Tushar Desai |
|
100 |
|
Alpana Sumit Shah |
|
2600 |
|
Sumit Vikram Shah |
|
100 |
|
Total |
|
499900 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2017
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family – Indian) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
· Contract Manufacturing and Exports of Pharmaceuticals Products · Wholesaler of Pharmaceuticals and Medical Goods (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 : |
Not Divulged |
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Bankers : |
·
ING Vysya Bank Limited, GF 9/1, Nutan Lakshmi
Co-Operative Housing Society Limited, Krishna Kunj, Plot No.32, 10th North
South Road, Juhu, Mumbai-400049, Maharashtra, India |
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Facilities : |
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Auditors : |
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Name : |
Hegde and Associates Chartered Accountants |
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Address : |
B/10, 1st Floor, New Putlibai Kapol Niwas CHS Limited, S V Road, Vile
Parle (West), Mumbai – 400056, Maharashtra, India |
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Tel No.: |
91-22-26708221/ 26701362 |
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Email : |
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Income-tax
PAN of auditor or auditor's firm : |
AADFH8883K |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Divulged |
CAPITAL STRUCTURE
As on 29.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
INR 10/- each |
INR 5.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
499900 |
Equity Shares |
INR 10/- each |
INR 4.999 Million |
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|
FINANCIAL DATA
[all figures are
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 |
4.999 |
4.999 |
4.999 |
|
(b) Reserves & Surplus |
20.743 |
21.399 |
18.495 |
|
(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) |
25.742 |
26.398 |
23.494 |
|
|
|
|
|
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(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
2.125 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.060 |
|
(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) |
0.000 |
0.000 |
2.185 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
3.500 |
8.173 |
3.621 |
|
(b) Trade payables |
6.480 |
11.263 |
10.099 |
|
(c) Other current liabilities |
7.564 |
3.397 |
5.673 |
|
(d) Short-term provisions |
0.000 |
0.441 |
0.000 |
|
Total
Current Liabilities (4) |
17.544 |
23.274 |
19.393 |
|
|
|
|
|
|
TOTAL |
43.286 |
49.672 |
45.072 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2.353 |
2.931 |
3.834 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.138 |
0.135 |
0.076 |
|
(c) Deferred tax assets (net) |
0.167 |
0.089 |
0.000 |
|
(d) Long-term Loan and Advances |
12.895 |
12.167 |
8.442 |
|
(e) Other Non-current assets |
0.595 |
0.569 |
0.530 |
|
Total
Non-Current Assets |
16.148 |
15.891 |
12.882 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1.534 |
3.132 |
0.259 |
|
(c) Trade receivables |
19.116 |
22.831 |
23.277 |
|
(d) Cash and cash equivalents |
0.506 |
1.351 |
0.734 |
|
(e) Short-term loans and
advances |
5.982 |
6.467 |
7.920 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
27.138 |
33.781 |
32.190 |
|
|
|
|
|
|
TOTAL |
43.286 |
49.672 |
45.072 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
57.457 |
103.276 |
58.329 |
|
|
Other Income |
3.893 |
9.533 |
1.926 |
|
|
TOTAL
|
61.350 |
112.809 |
60.255 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
32.974 |
65.106 |
29.423 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
1.455 |
(2.908) |
0.000 |
|
|
Employees benefits expense |
5.623 |
4.992 |
3.860 |
|
|
Other expenses |
20.704 |
39.416 |
24.220 |
|
|
TOTAL |
60.756 |
106.606 |
57.503 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
0.594 |
6.203 |
2.752 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.537 |
0.816 |
1.385 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
0.057 |
5.387 |
1.367 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
0.788 |
1.071 |
1.194 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
(0.731) |
4.316 |
0.173 |
|
|
|
|
|
|
|
Less |
TAX |
(0.074) |
1.412 |
0.068 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(0.657) |
2.904 |
0.105 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
21.399 |
18.495 |
18.597 |
|
|
|
|
|
|
|
Less |
Adjustment
on account of fixed assets |
0.000 |
0.000 |
0.207 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
20.742 |
21.399 |
18.495 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
54.441 |
93.174 |
47.911 |
|
|
TOTAL
EARNINGS |
54.441 |
93.174 |
47.911 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
(1.31) |
5.81 |
0.21 |
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 |
5.175 |
0.065 |
NA |
|
Net cash from operating activities |
4.412 |
(0.851) |
NA |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
121.44 |
80.69 |
145.66 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
3.01 |
4.52 |
2.51 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
71.73 |
63.14 |
125.28 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.39 |
1.98 |
10.63 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.25 |
2.12 |
0.72 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.41 |
0.47 |
0.48 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.14 |
0.31 |
0.24 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities
/ Net Worth) |
0.68 |
0.88 |
0.83 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.09 |
0.11 |
0.16 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
1.11 |
7.60 |
1.99 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
(1.14) |
2.81 |
0.18 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
(1.52) |
5.85 |
0.23 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
(2.55) |
11.00 |
0.45 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.55 |
1.45 |
1.66 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.46 |
1.32 |
1.65 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.59 |
0.53 |
0.52 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.70 |
1.63 |
1.15 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.55 |
1.45 |
1.66 |
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 |
4.999 |
4.999 |
4.999 |
|
Reserves & Surplus |
18.495 |
21.399 |
20.743 |
|
Net
worth |
23.494 |
26.398 |
25.742 |
|
|
|
|
|
|
long-term borrowings |
2.125 |
0.000 |
0.000 |
|
Short term borrowings |
3.621 |
8.173 |
3.500 |
|
Total
borrowings |
5.746 |
8.173 |
3.500 |
|
Debt/Equity
ratio |
0.245 |
0.310 |
0.136 |
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 |
58.329 |
103.276 |
57.457 |
|
|
|
77.058 |
(44.366) |
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 |
58.329 |
103.276 |
57.457 |
|
Profit/ (Loss) |
0.105 |
2.904 |
(0.657) |
|
|
0.18% |
2.81% |
(1.14%) |
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 |
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) |
No |
|
16] |
No. of employees |
No |
|
17] |
Details of sister concerns |
No |
|
18] |
Major suppliers |
No |
|
19] |
Major customers |
No |
|
20] |
Banking Details |
Yes |
|
21] |
Banking facility details |
Yes |
|
22] |
Conduct of the banking account |
-- |
|
23] |
Financials, if provided |
Yes |
|
24] |
Capital in the business |
Yes |
|
25] |
Last accounts filed at ROC, if applicable |
Yes |
|
26] |
Turnover of firm for last 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 |
OPERATIONS
The Company has reported total income of INR 61.350 Million for the current year as compared to INR 112.809 Million in the previous year. The Net Profit after tax for the year amounted to INR (0.657) Million in the current year as compared to INR 2.904 Million in the previous year.
The Company has now focused its operations to newer territories and market namely Latin and Central America, South East Asia Similarly the company has started cross country business where we are sourcing Specialty Pharma products from EU etc. and registering these in SE Asia and some select African nations.
The Company efforts of getting product registered has taken time and initial orders expectation, has not yet yielded required results, The Company is confident to achieve good business potential in the long run.
The Company is also affected by slow moving debtors from one of their Prime customer, due to financial issues at their end. The Customer had initially paid substantial advances for the order, which was later enhanced. The Company is confident of getting the payment and also expects a good long term potential. All out efforts are been made for the early payment for the same. Due to the above factor the performance of the Company was affected. The Company expected better performance during the current financial year.
UNSECURED LOAN
|
PARTICULAR |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Short-term
borrowings |
|
|
|
From Directors |
3.500 |
0.000 |
|
Total |
3.500 |
0.000 |
INDEX
OF CHARGES
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G50420397 |
100115789 |
ICICI BANK LIMITED |
06/05/2017 |
- |
- |
20060000.0 |
ICICI BANK TOWER, NEAR CHAKLI CIRCLE, OLD PADRA ROAD VADODARA GUJARAT 390007 INDIA |
|
2 |
G42022392 |
10185993 |
ING VYSYA BANK LIMITED |
28/10/2009 |
- |
17/04/2017 |
30000000.0 |
GF9/1,NUTAN LAKSHMI CO-OP HOUSING SOCIETY LTDKRISHNA KUNJ, PLOT NO.32,10TH NORTH SOUTH ROAD, JUHU MUMBAI MAHARASHTRA 400049 INDIA |
|
3 |
A62325204 |
90152135 |
THE SARASWAT CO-OPRATIVE BANK LIMITED |
16/09/2002 |
- |
04/05/2009 |
3200000.0 |
JUHU BRANCH MADHU SAGAR; N. S. ROAD NO. 13 MUMBAI MAHARASHTRA 400049 INDIA |
|
4 |
A62325121 |
90152068 |
THE SARASWAT CO-OPRATIVE BANK LIMITED |
30/03/2001 |
16/09/2004 |
04/05/2009 |
3000000.0 |
JUHU BRANCH MADHU SAGAR; N. S. ROAD NO. 13 MUMBAI MAHARASHTRA 400049 INDIA |
|
5 |
A62457668 |
90152211 |
THE SARASWAT CO-OPRATIVE BANK LIMITED |
15/04/2004 |
- |
04/05/2009 |
1500000.0 |
JUHU BRANCH MADHU SAGAR; N. S. ROAD NO. 13 MUMBAI MAHARASHTRA 400049 INDIA |
|
6 |
A62457353 |
10038777 |
THE SARASWAT CO-OPRATIVE BANK LIMITED |
09/02/2007 |
- |
04/05/2009 |
175000.0 |
JUHU BRANCH, JUHU MUMBAI MAHARASHTRA 400049 INDIA |
|
7 |
A62457536 |
10079844 |
THE SARASWAT CO-OPRATIVE BANK LIMITED |
26/11/2007 |
- |
04/05/2009 |
1200000.0 |
JUHU BRANCH, JUHU MUMBAI MAHARASHTRA 400049 INDIA |
|
8 |
A62325030 |
90152164 |
THE SARASWAT CO-OPRATIVE BANK LTD. |
28/03/2003 |
- |
04/05/2009 |
1500000.0 |
JUHU BRANCH MADHU SAGAR; N. S. ROAD NO. 13 MUMBAI MAHARASHTRA 400049 INDIA |
|
9 |
A62457171 |
10038775 |
THE SARASWAT CO-OPRATIVE BANK LIMITED |
29/01/2007 |
- |
04/05/2009 |
1250000.0 |
JUHU BRANCH, JUHU MUMBAI MAHARASHTRA 400049 INDIA |
|
10 |
A61885711 |
10071465 |
THE SARASWAT CO-OPRATIVE BANK LIMITED |
14/09/2007 |
- |
04/05/2009 |
1200000.0 |
JUHU BRANCH, JUHU MUMBAI MAHARASHTRA 400049 INDIA |
FIXED ASSETS
· Office Equipment
· Furniture
· Plant and Machinery
· Motor Car
· Cycle
· Mobil
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 65.04 |
|
UK Pound |
1 |
INR 92.28 |
|
Euro |
1 |
INR 80.62 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
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.
·