MIRA
INFORM REPORT
|
Report Date : |
13TH
June 2006 |
IDENTIFICATION
DETAILS
|
Name : |
DG2L
TECHNOLOGIES PRIVATE LIMITED |
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Registered Office : |
Nandani Villa, 1st
Floor, B – 11, Motowen Housing Society, Gilmohar Cross Road – 7, JVPD Scheme
Mumbai – 400049, Maharashtra, India |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
14.07.2003 |
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Com. Reg. No.: |
11-141322 |
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CIN No.: [Company
Identification No.] |
U30006MH2003PTC141322 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMD10887C |
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PAN No.: [Permanent
Account No.] |
AABCD8057C |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
The
company is engaged in providing services of Computer Systems, Peripherals,
Computer Software and Developments |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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Maximum Credit Limit : |
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Status : |
New
Project |
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Payment Behaviour : |
Unknown
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Litigation : |
Clear |
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Comments : |
Subject
is a new company and in infancy stage. Shareholders has brought substantial
funds in the business. No payments are available. Trade relations are fair.
The company can be considered for normal business dealings at usual trade
terms and conditions with slight caution. |
LOCATIONS
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Registered Office : |
Nandani Villa, 1st
Floor, B – 11, Motowen Housing Society, Gilmohar Cross Road – 7, JVPD Scheme
Mumbai – 400049, Maharashtra, India |
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Tel. No.: |
91-22-28251512 |
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Headquarters: |
DG2L
Technologies, Inc. 30, Rockefeller Plaza
27th Floor New York, NY 10112 USA |
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Tel. No.: |
1-212-332-4370 |
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Fax No.: |
1-212-332-4382 |
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Corporate Office : |
No.
50, Robinson Road, FL 16-00, MNB Building, # 068882, Singapore |
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E-Mail : |
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Factory 1 : |
Room
No. 1103, 11F No. 60, Sec-2 Chung Shan N. Rd., Taipei |
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Tel. No.: |
886-22-522-2455 |
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Fax No.: |
886-22-522-2522 |
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Factory 2 : |
36A, Mahal Industrial Estate, Off.
Mahakali Caves Road, Mumbai - 400093,
Maharashtra, India |
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R&D Operations: |
AML
Center 1, Gr. floor, 8, Mahal Indl. Estate, Opp. Rexello / Cosmic, |
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Tel. No.: |
91-22-56930971 |
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Fax No.: |
91-22-56930970 |
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E-Mail : |
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Sales Offices: |
DG2L USA 1520 Yellowstone Court Rockline, CA
95765 DG2L CHINA 604, Blue Tower, SOHO New Town, No. 88 Jianguo Road, Chaoyang
District, Beijing, P.R. China 100022 DG2L
INDIA AML
Center 1, Gr. floor, 8, Mahal Indl. Estate, Opp. Rexello / Cosmic, |
DIRECTORS
|
Name : |
Mr. Asif Khan |
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Designation : |
Director |
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Address : |
B-20/403, Vaishali Nagar, S V Road, Jogeshwari (West), Mumbai –
400102, Maharashtra, India |
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Date of Birth/Age : |
31/10/1967 |
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Date of Appointment : |
14/07/2003 |
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Name : |
Mr. Singh Narendra Pal |
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Designation : |
Director |
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Address : |
33, Sainik Puri, New Sama Road, Vadodara – 390008, Gujarat |
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Date of Birth/Age : |
17/08/1958 |
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Date of Appointment : |
14/07/2003 |
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Name : |
Mr. Tapesh Sinha |
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Designation : |
Managing Director |
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Name : |
Mr. Marty Levine |
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Designation : |
Executive V.P -
Business Development |
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Name : |
Mr. A. K. Sheth |
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Designation : |
Chief Executive Officer |
MAJOR SHAREHOLDERS
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Names
of Shareholders |
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No. of Shares |
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Mr.
Khan M H M Asif |
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10 |
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DG2L
Technologies Private Limited |
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9990 |
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Total
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10000 |
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BUSINESS DETAILS
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Line of Business : |
The
company is engaged in providing services of Computer Systems, Peripherals,
Computer Software and Developments |
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Products : |
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GENERAL
INFORMATION
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Bankers : |
Not
Available |
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Banking Relations : |
Unknown
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Auditors : |
V.C.
Shah and Company Chartered
Accountants Rajgir
Chambers, 3rd Floor, 12-14, Shahid Bhagat Singh, Opp. Custom
House, Mumbai – 400001 |
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Tel. No.: |
91-22-22634021 |
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Fax No.: |
91-22-22668667 |
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E-Mail : |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
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10000 |
Equity
Shares |
Rs. 10/- each |
Rs. 0.100 Millions |
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Issued,
Subscribed & Paid-up Capital :
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No.
of Shares |
Type |
Value |
Amount |
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10000 |
Equity
Shares |
Rs. 10/- each |
Rs. 0.100 Millions |
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Share
Application Money |
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Rs. 50.784 Millions |
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FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
0.100 |
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2] Share Application Money |
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50.784 |
18.472 |
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3] Reserves & Surplus |
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0.000 |
0.000 |
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4] (Accumulated Losses) |
|
(0.139) |
(0.066) |
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NETWORTH |
|
50.745 |
18.506 |
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LOAN FUNDS |
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1] Secured Loans |
|
0.000 |
0.000 |
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2] Unsecured Loans |
|
0.000 |
0.000 |
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TOTAL BORROWING |
|
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
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50.745 |
18.506 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
17.728 |
9.414 |
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Capital work-in-progress |
|
0.000 |
0.000 |
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INVESTMENT |
|
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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|
|
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Software In Process |
|
37.207 |
12.725 |
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Cash & Bank Balances |
|
5.470 |
0.153 |
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Other Current Assets |
|
0.000 |
0.000 |
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Loans & Advances |
|
4.609 |
1.441 |
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Total Current Assets |
|
47.286 |
14.319 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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14.278 |
5.238 |
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Provisions |
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Total Current Liabilities |
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14.278 |
5.238 |
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Net Current Assets |
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33.008 |
9.081 |
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MISCELLANEOUS EXPENSES |
|
0.009 |
0.011 |
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TOTAL |
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50.745 |
18.506 |
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PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
|
Sales Turnover [including other income] |
|
2.100 |
1.500 |
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|
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Profit/(Loss)
Before Tax |
|
(0.074) |
(0.066) |
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Provision
for Taxation |
|
-- |
-- |
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Profit/(Loss)
After Tax |
|
(0.074) |
(0.066) |
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|
|
|
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Total
Expenditure |
|
24.853 |
12.959 |
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
|
(3.52) |
(4.40) |
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Net
Profit Margin (PBT/Sales) |
(%) |
|
(3.52) |
(4.40) |
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Return
on Total Assets (PBT/Total
Assets} |
(%) |
|
(0.11) |
(0.28) |
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|
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Return
on Investment (ROI) (PBT/Networth) |
|
|
(0.00) |
(0.00) |
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Debt
Equity Ratio (Total
Liability/Networth) |
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|
0.28 |
0.28 |
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Current
Ratio (Current
Asset/Current Liability) |
|
|
3.31 |
2.73 |
LOCAL AGENCY
FURTHER INFORMATION
Fixed
Assets
Ø
Computer
Systems
Ø
Furniture
and Fixture
Ø
Office
Equipments
Ø
Plant
and machinery
Ø
Motorcar
Ø
Testing
Equipments
Business operation :
The directors are leased to report that
the year under review witnessed increases
in turnover form Rs. 1.500 millions in the previous year to Rs. 2.100
millions. The profit before depreciation and tax at Rs. 1.675 millions compared
to Rs. 0.439 millions in the previous year.
Business development and Prospects
The company is the world leader in MPEG –
4 based next generation media solutions. It is also the obly true versatile
player in the industry offering CODEC agnostic end to end digital media
solution (MPEG – 4, H 264, MPEG- 2, WM9). The company is the first ever to
introduce and MPEG –4, based digital cinema distribution and presentation
system. It is also the world’s first company to offer a MPEG –4, based DVB/IP
Set – Top Box.
Enthused by the performance of the
stripped down version of Cine Blaster the company is confident of developing
and supporting its Digital Cinema solution. The company earns its revenue form
the sale and also earns royalty on a continuous basis. The company has been
awarded the multimillion dollar contract for the world’s largest digital cinema
deployment, which encompasses 2000 theaters fir UFO (united Film organizers) a,
subsidiary of the Valuable Media Group.
They are hopeful that the development of Digital Cinema will start soon in the
cinema theaters.
Research and Development
The company’s development center is well
equipped with the necessary Hardware and Software required to develop
Entertainment related product. The company has
trained personal to understand customer requirement and development
product. The company also has facility for rigorous in house testing to reduce
faults on the field.
Technology Absorption
The company developed a stripped down
various Cine Blaster which allows playback of movies in the theaters. The
performance of the product in the theaters is satisfactory and the company is
developing a full fledged Digital Cinema solution for deployment in theaters.
Sales and services
Revenue from Software Development on time
and material basis is recognized based on Software development and billed to
client as per the terms of specific contracts. In case of fixed price
contracts, revenue is recognized based on the milestones achieved as specified
in the contracts and on reasonable estimates towards percentage of completion
wherever milestones are not specified or otherwise. Revenue form services is
recognized on services rendered and billed.
As per website
Founded in 2001, DG2L Technologies is the
world leader in MPEG-4 based next generation media solutions. It is also the
only true versatile player in the industry offering CODEC agnostic end-to-end
digital media solutions (MPEG-4, H.264, MPEG-2, WM9). The company is the first
ever to introduce an MPEG-4 based Digital Cinema Distribution and Presentation
system. It is also the world's first company to offer a MPEG-4 based DVB/ IP
Set-Top Box. DG2L offers an integrated suite of encoding, authoring,
distribution and playback solutions for the delivery of interactive digital
media over broadcast, broadband and wireless networks to any device.
Distributed through a worldwide sales channel and direct sales force, DG2L
provides cross-platform, cost-efficient solutions for content developers,
broadcasters, network operators, and consumer device manufacturers
Locations
Headquarters - New York, USA
Registered Office - Singapore
Manufacturing Operations - Taiwan
R & D - Mumbai, India
Marketing & Sales Offices
· Silicon Valley (Newark,
CA - USA)
· Beijing, Changsha,
ChongQing (China)
·
Mumbai (India)
DG2L Solutions Platform
DG2L's solutions span applications from
live broadcast to broadband network delivery, addressing market needs for
conserving bandwidth, extending reach and increasing services revenue. Built on
open industry standards for advanced compression and object-oriented
interactivity, the DG2L Solutions Platform enables IP Television (IPTV),
video-on-demand (VOD), high-definition DVD, satellite newsgathering and
distance learning services, among others.
KEY FEATURES
Multi-media Creation
- Object-oriented tools integrate audio, video,
text, 2D graphics, animation and interactivity to create interactive
multi-media experiences
Multi-Network Delivery
- DG2L solutions support live broadcast, unicast
and multicast delivery over wired and wireless networks
Multi-Device Experience
- DG2L's playback solutions extend media
delivery beyond the PC to advanced consumer electronics and mobile devices
Open Standards
- DG2L's entire suite of products and systems
are based on open, industry standards, providing interoperability and
choice
Live and On Demand
Hardware-based Phoenix Live Broadcast Encoder™ provides professional
reliability and stability with the added benefits of remote set-up and control
and write-to-disk function.
High Quality, Low Bitrate Encoding
DG2L's iVast Studio Encode™ streamline offline production of audio and video
content while delivering exceptional quality. 100:1 compression results in the
highest quality video and audio at the lowest bitrates.
Dynamically Generate Multiple Localized Broadcasts
Dynamically generate multiple, localized broadcasts within a single,
standards-based control environment and distribute to multiple affiliate
stations without having to composite separate audio/video outputs.
Object Oriented Interactive Authoring
Integrate audio, video, text, graphics and animation into dynamic interactive
programs. Allow users to click and interact with the environment.
Phoenix Live Broadcast Encoder
DG2L's iVast Studio Encode™
DG2L's iVast Studio Author™
Scalable Network Delivery
The DG2l's iVast Media Server™ is a high performance, scalable media delivery
solution for audio, video and interactive media applications. Supports ISMA,
unicast, multicast and live relay modes in standalone or multi-server
distributed networks.
Multi-Network
Internet or intranet, wireless or wireline, broadcast or broadband, DG2L
solutions are compatible with all industry standard network and messaging
protocols.
Broadcast-Quality and Reliability
Leverage unicast or multicast IP protocol to receive high-quality compressed
media bit streams for baseband output via Serial Digital Interface (SDI)
outputs.
Multi-Device Playback
Extend the reach of the digital media into a growing set of MPEG-4 enabled
devices including advanced set-top boxes, personal video recorders, enhanced
DVD players, game consoles, and next-generation mobile and wireless products.
DG2L's Phoenix Receiver Decoder
DG2L's Neuron Set-Top Box
DG2L's iVast Experience Player™
OEM
Integrate MPEG-4 Encoding & Authoring
DG2L's’s framework and APIs for programmatic set-up, instantiation and control
of any number of DG2L media processing components include MPEG-4 compliant
audio encoders, video encoders, multiplexers and file writers.
Portable Playback on Any Device
The smallest footprint available on the market, DG2L's single, integrated
interactive player library is portable to set-top boxes and consumer electronic
devices.
DG2L's iVast Studio Author &
Encode SDK
DG2L's iVast Player Porting Kits
The MPEG solutions from DG2L Technologies
are an integrated suite of encoding, authoring, distribution and playback
products for digital media delivery. Built on open industry standards for
advanced compression and object-oriented interactivity, DG2L Technologies
solutions span applications from live broadcast to broadband network delivery.
Professional Video and Interactive
Media-On-Demand
Take advantage of the advanced audio/video compression
capabilities of MPEG-4 with this solution for file download and playback or
physical media distribution. Create compelling rich media presentations, like
enhanced-DVDs, with multimedia authoring tools. Ideal for:
Content encoding and archiving
Communications applications with limited bandwidth availability
CD-ROM and DVD distribution
Professional Streaming and Video-On-Demand
Deliver interactive media On-Demand or Live content, utilizing DG2L's
Professional Streaming solutions with the reliability required by commercial
streaming deployments. This standards-based solution integrates audio/video
with presentation-based interactive media for delivery over public and private
IP networks. Ideal applications:
Broadband portals and Interactive Advertising
Education, Distance Learning and Enterprise Training
Corporate Communications
Interactive Marketing Communications
Live Media Distribution and Backhaul
Deliver high quality live, breaking news and events and decrease distribution
costs with DG2L's live broadcast encoding solutions. Hardware-based compression
reduces video source media up to 100x, lowering the bandwidth required for
distribution while maintaining the high quality required for television
broadcasts and webcasts. This compact live broadcast solution for satellite and
telecommunications networks also features simultaneous archival recording plus
remote set-up and control. Applications include:
Live Event Broadcasts
Media Backhaul
Media Archiving
Carrier-Class On-Demand and Multi-Channel
DG2L's Carrier-Class On-Demand and Multi-Channel solutions provide the vertical
scalability required by the most demanding cable, broadcast and broadband
environments. Real time MPEG-2 to MPEG-4 transcoding increases channel capacity
while lowering archiving and storage costs by 2x to 3x. Complete headend
hardware solution scales up to 180 MPEG-4 video/audio channels per chassis with
full redundancy. Ideal for:
IPTV services over broadband networks
Media-On-Demand (MOD) or Video-On-Demand(VOD)
HDTV
Interactive Digital TV to MPEG-4 enabled set-top boxes
Some of DG2L's current partners include content and technology leaders:
Ø
AVC
Ø
Pioneer
Ø
Philips
Ø
Oracle
Ø
Sun Microsystems
Ø
Panasonic
Ø
National Semiconductor
Ø
Clear Star
Ø
Cloud Systems
Ø
Fuji Xerox
Ø
Pacenet
Ø
The Post Group
Ø
Modern Video Film
Ø
CMC magnetic
Ø Maorovision
The DG2L Executive Team has an accomplished background in new
media industry, with them participating as key roles to define international
standards for digital multimedia (ISO/IEC, MPEG-4). Their technical staff
includes some of the world’s top experts in the areas of MPEG systems and
implementation, digital signal processing, synthetic media compression,
multimedia access terminal design and content creation as well as digital media
authoring.
Management team includes:
A.K.Sheth,
CEO
Tapesh
Sinha, Managing Director
Asif
Khan, CTO
Marty
Levine,Executive V.P - Business Development
A. K. Sheth, Chief Executive Officer
A. K. Sheth serves as chief executive officer of DG2L. He, together with Tapesh
Sinha and Asif Khan, co-founded the company in 2001 with a vision of making
digital entertainment a reality with breakthrough products that exceed industry
standards with pricing that is without comparison. Prior to DG2L, Sheth was CEO
and president of the iSystem group of companies, the third largest Indian
branded PC vendor in India. He was also founder of Channel2C Technologies Ltd.,
a content aggregation and streaming company. Sheth holds a double degree in
Industrial Management and Management Information Systems from the University of
Akron.
Tapesh Sinha, Managing Director
Tapesh Sinha brings a track record of successful entrepreneurship to his role
as managing director. His vision has helped India’s leading IT companies
formulate and execute global sourcing strategies. Prior to founding DG2L, Sinha
founded Acctel, one of the largest independent IT exporters to India. Sinha
also founded Atesto Technologies, Inc., USA, which secured $20 million funding
by a consortium of venture capitalists led by the SPROUT Group. The SPROUT
Group is one of the oldest and largest institutional venture capital firms
focused on emerging technology companies. Sinha holds a BE in Mechanical
Engineering from Jadhavpur University and an MBA from the Indian Institute of
Management Calcutta.
Asif Khan, Chief Technical Officer
Asif Khan co-founded DG2L and serves as the company’s chief technology officer.
Prior to DG2L, Khan was chief executive officer and managing director of IPlus
Infotech Ltd., where he developed the Iris-Xchange Network, a state-of-the-art
touch screen kiosk providing art interactive information, transaction and
communication network with base support for movie theaters, shopping malls, and
Indian railways. Before his tenure at IPlus, Khan was chief engineer for
Honeywell’s Technology Center for Excellence, where he twice received the
distinguished “Excellence in Applications and Products Development” award. Khan
holds a degree in Industrial Electronic Engineering from Mumbai University.
Marty
Levine, Executive V.P - Business Development
Marty Levine will be responsible for all marketing, product management, global
reseller development, and technology partnerships for DG2L. In earlier
positions Marty developed and executed strategic marketing and business
development initiatives for DigitalDeck, a leading developer of networked home
entertainment software and hardware. Prior to that, he led all business
development activities at iVAST, where he worked with network operators,
Hollywood studios, consumer electronics manufacturers, and chip companies to
secure licensing and integration agreements for the Company’s MPEG-4 software
and underlying technology.
DG2L Opens European Office in
Brussels to Support
Expanding Customer Base
Las Vegas - April 25, 2006:
Today at NAB 2006, DG2L
Technologies, a best-in-breed digital media company, announced it is opening a
new office in Brussels, Belgium in May. The new office will be key to
supporting DG2L's European clients in the digital cinema, broadcast television
and video service provider industries.
"Global demand for DG2L's
Digital Cinema system and set-top boxes has been strong,” said Ankur Sheth, CEO
of DG2L Technologies. “The opening of their office in Brussels is a critical
move in DG2L's long-term strategy to forge new partnerships and develop strong
customer ties throughout Europe. They are excited about the opportunities in
Europe.”
The Brussels office joins numerous
DG2L offices throughout the world, including Beijing, Mumbai, New York, Tokyo,
Taiwan, Singapore, Changsa, and ChongQing. It will provide both sales and
engineering services for the company's end-to-end digital cinema system, Neuron
line of MPEG-4 AVC DVB-IP hybrid set-top boxes and Phoenix MPEG-4 AVC broadcast
encoders.
DG2L at NAB '06
At NAB '06, DG2L is launching its
new Neuron 2000 Set-Top Box, the world's first DVB-IP box to support AVC high
definition (1080P) as well as standard definition services (please see separate
announcement). DG2L will also provide demonstrations of its line of Phoenix
Broadcast Encoders and DG2L Cinema System. DG2L Cinema System is an end-to-end
solution comprising film capture, encoding, encryption, management, and
playback at the theater. Last month, DG2L announced a significant digital
cinema milestonesurpassing 30,000 digital movies shown using the DG2L Cinema
System platform.
DG2L executives are available to
speak with press and industry analysts on a number of technology and
market-trends. To see DG2L products in action, please visit Booth SL 1976,
South Hall 2.
For customers interested in learning
more about DG2L products:
Global customers: +1 (212) 332.4370;
sales@dg2l.com
North America: +1 (831) 251.1592
To schedule a meeting for a private
demonstration at NAB 2006, please contact Matt Mckee; matt.mckee@dg2l.com
For more information, press and
analysts only:
Dagmar Glier, USA +1 (425)
576.5234;dglier@msn.com
DG2L Technologies today announces
that it has completed installation of the first 150 Digital Cinema Systems
awarded to DG2L in the world's largest digital cinema deployment, which
encompasses 2,000 theaters, for UFO (United Film Organizers) "While the
large media groups are talking about it, while the industry magazines and
reports predict the future of it, DG2L along with UFO have made it a reality of
today," said AK Sheth, CEO of DG2L. "The first 50 were the most
difficult, after that it has become a well oiled machine; they are now able to
install 100 systems per month, bringing each one online in just 3 days. It is
amazing to watch the entire process from Telecine to digital distribution to
theater display all
done digitally, at a fraction of the
cost of traditional film distribution," said Sheth.
"India is the largest producer
of motion pictures in the world, averaging 800 movies per year. India also has
the largest theater-going public worldwide, so it is natural that India becomes
the leader in the mass adoption of digital cinema. The solution allows for more
cost-effective digital distribution, while also providing the ability to
maximize revenue potential through real-time content management," said
Sanjay Gaikwad, CEO of UFO. "Now that the first 150 Cinemas are online,
they have exceeded their cost savings predictions of distributing films
digitally, they have increased the quality of the movie going experience, and
they decreased the time-to-market issues for film producers. This is a win-win
situation for everyone. Their audience satisfaction has exceeded their wildest
expectations," said Gaikwad.
The DG2L Digital Cinema System is an
MPEG-4, near-2K, end-to-end solution comprising film
capture, encoding, encryption,
management, secure digital delivery and playback at the theater. DG2L's Theatre
Management System allows for scheduling of content distribution, management of
content, show times and show packages. Additional features include ad
insertion, multilingual broadcast and 6-channel surround sound. Through the
entire process, the content is secured by utilizing DG2L's 192-bit content
delivery Encryption system, Digital Watermarking and DRM solutions.
DG2L will be showcasing their
Digital Cinema system at IBC 2005 in Amsterdam. For more
information please visit
http://www.DG2L.com
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. 45.98 |
|
UK
Pound |
1 |
Rs. 84.54 |
|
Euro |
1 |
Rs. 57.82 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
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 |
|
TOTAL |
|
35 |
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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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 |