MIRA INFORM REPORT
|
Report
Date : |
20th
June, 2006. |
IDENTIFICATION
DETAILS
|
Name: |
ESCORTS
CONSTRUCTION EQUIPMENT LIMITED |
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Registered
Office : |
11,
Scindia House, Connaught Cixcus, New Delhi, India |
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Country: |
India |
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Financials
(as on) : |
31.03.2005 |
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Date
of Incorporation : |
17.02.1994 |
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Com.
Reg. No.: |
05-57458 |
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CIN
No.: [Company
Identification No.] |
U74899DL1994PTC057458 |
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IEC
No. |
0595009123 |
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Legal
Form : |
A Closely Held Public Limited Liability company. The
company is a subsidiary of Escorts Limited |
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Line
of Business : |
Manufacturing of Pick-n-carry Craves, Hydraulic Mobile
Craves, Vibratory Compactors for Sail Asphalt Tandems Rollers, Slew Craves
and Forklifts |
RATING & COMMENTS
|
MIRA’s
Rating : |
B |
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
: |
Moderate |
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Payment
Behaviour : |
Slow and
Delayed |
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Litigation
: |
Clear |
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Comments
: |
Subject
is a subsidiary of Escorts Limited, a diversified engineering company. Their
trade relations are reported as fair. Financial position is moderate. The
company continue to incur heavy losses. Its payments are reported as slow and
delayed. The company can be considered for normal business dealings
at usual trade terms and conditions with some caution. |
LOCATIONS
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Registered
Office : |
11,
Scindia House, Connaught Cixcus, New Delhi |
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Factory
1 : |
Plot No.
2, Sector 13, Faridabad – 121 001, Haryana, INDIA |
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Tel.
No.: |
91-129-5283073,
5286694, 5290793, 5223561, 5223562, 5284810 |
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Fax
No.: |
91-129-5283065,
5261323 |
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E-Mail
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Area : |
Leased |
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Branch : |
v
Mr.
P. Minocha
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DIRECTORS
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Name : |
Mr. Rajan Nanda |
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Designation
: |
Chairman |
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Address
: |
2, Friends Colony (West), New Delhi-110065 |
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Date
of Birth/Age : |
15th October 1942 |
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Name : |
Mrs. Ritu Nanda |
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Designation
: |
Director |
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Address
: |
2, Friends Colony (West), New Delhi-110065. |
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Date
of Birth/Age : |
30th October 1948 |
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Name : |
Mr. Vinod Ahuja |
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Designation
: |
Executive Director |
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Address
: |
B- 52-B, Gangotri, Enclave, Alaknanda, New Delhi-110019. |
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Date
of Birth/Age : |
27th December 1950 |
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Name : |
Mr. Sriram Khattar |
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Designation
: |
Director |
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Address
: |
15/5, Mathura Road, Faridabad |
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Date
of Birth/Age : |
26th December 1957 |
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Name : |
Mr. Vijay Thacker |
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Designation
: |
Director |
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Address
: |
1105, Embassy Center, Nariman Point, Mumbai-400021. |
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Date
of Birth/Age : |
21st June 1960 |
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Name : |
Mr .Nikhil Nanda |
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Designation
: |
Director |
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Address
: |
2, Friends Colony (West), New Delhi-110065. |
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Date
of Birth/Age : |
18th March 1973 |
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OTHER
PERSONNELS |
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Name : |
Mr.
Pankajrai S. Mittal |
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Designation
: |
Finance Controller |
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Name : |
Mr. Namit
Rustagi |
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Designation
: |
Company Secretary |
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KEY EXECUTIVES
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Name : |
Mr. Vikram Sharma |
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Designation
: |
Chief Executive Officer |
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Age: |
52 years |
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Qualification: |
B. Tech. |
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Experience: |
29 years |
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Date
of Joining: |
10th June, 2000 |
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Previous
Employment: |
Escorts Yamaha Motors Limited |
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Name : |
Mr. Raman Sharma |
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Designation
: |
Executive Director |
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Age: |
46 years |
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Qualification: |
B. Tech., PGDBA |
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Experience: |
23 years |
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Date
of Joining : |
9th August, 1999 |
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Previous
Employment : |
J. K. Industries Limited |
MAJOR SHAREHOLDERS
|
Names of Shareholders |
Percentage of Holding |
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Escorts
Automotive Limited |
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Escorts
Agrimachinery Inc. |
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Escorts
Heart Institute And Research Cerntre Limited |
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Escorts
Technologies Limited |
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Escorts
Techinologies (USA) Limited |
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Escorts
Technologies (UK) Limited |
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Escorts
Singapore Pte Limited |
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E-Soft
(Mauritius) Holdings Limited |
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IFS
Solutions India Private Limited |
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Escorts
Services Limited |
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Cellnext
Solutions Limited |
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Serv
India Solutions Private Limited |
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Escorts
Securities Limited |
97% |
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Escorts
Asset Management Limited |
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Escorts
Telecom Services Limited. (Formerly Escorted Telecommunication Limited) |
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Escorts
Health Care Services Limited |
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Automatrix
India Private Limited |
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Escorts
Heart And Super Specialty Institute Limited |
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Escorts
Heart Center Limited |
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Escorts
Mobile Communications Limited |
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Escorts
Hospital And Research Center Limited |
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Escorts
Telecommunications Limited |
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BUSINESS DETAILS
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Line
of Business : |
Manufacturing of Pick-n-carry Craves, Hydraulic Mobile
Craves, Vibratory Compactors for Sail Asphalt Tandems Rollers, Slew Craves
and Forklifts |
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Products
: |
Cranes on Tyres Front End
Shovel Loaders |
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Agencies
Held : |
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Exports
to : |
Oman, UAE, Srilanka, Bahrain, Nizeria, Brazil |
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Imports
from : |
Korea, Italy, Germany |
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Terms
: |
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Selling : |
L/C and Credit (30 day) |
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Purchasing : |
L/C and Credit (60/90 day) |
PRODUCTION STATUS
|
Particulars |
Unit |
Licensed Capacity |
Installed Capacity |
Actual Production |
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Cranes |
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|
1000 |
1138 |
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Loaders
and Road Compaction Eq. Pt. |
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|
450 |
159 |
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Total |
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1450 |
1295 |
GENERAL INFORMATION
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Customers
: |
End Users |
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No. of
Employees : |
296 – In office 79, in factory 172 and in branch 45 |
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Bankers
: |
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Facilities : |
The concern enjoy credit limit from its Bankers :
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Banking Relations : |
Satisfactory |
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Auditors
: |
S. N. Dhawan & Company, Chartered Accountants |
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Associates/Subsidiaries
: |
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CAPITAL STRUCTURE
Authorised
Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
71000000 |
Equity Shares |
Rs. 10 each |
710.000 millions |
Issued,
Subscribed & Paid-up Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
71000000 |
Equity Shares |
Rs. 10 each |
710.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2005 |
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SHAREHOLDERS
FUNDS |
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1] Share
Capital |
710.000 |
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3]
Reserves & Surplus |
(358.200) |
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NETWORTH
|
351.800 |
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LOAN
FUNDS |
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1]
Secured Loans |
592.800 |
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2]
Unsecured Loans |
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TOTAL
BORROWING
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DEFERRED
TAX LIABILITIES |
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TOTAL
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944.600 |
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APPLICATION OF FUNDS
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FIXED ASSETS [Net Block]
|
162.900 |
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Capital work-in-progress
|
0.600 |
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INVESTMENT
|
0.100 |
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DEFERREX TAX ASSETS
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CURRENT ASSETS, LOANS & ADVANCES
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Inventories
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248.700 |
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Sundry Debtors
|
400.000 |
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Cash & Bank Balances
|
74.000 |
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Loans & Advances
|
50.700 |
Total Current Assets
|
773.400
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Less : CURRENT LIABILITIES & PROVISIONS
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Current Liabilities
|
-- |
Total Current Liabilities
|
--
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Net
Current Assets
|
773.400
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MISCELLANEOUS EXPENSES
|
7.600 |
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TOTAL
|
944.600 |
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PROFIT & LOSS ACCOUNT
|
PARTICULARS |
31.03.2005 |
Sales Turnover [including other income]
|
1571.700 |
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Profit/(Loss) Before Tax
|
45.100 |
Provision for Taxation
|
-- |
Profit/(Loss) After Tax
|
45.100 |
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Export Value
|
8.000 |
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Import Value
|
84.700 |
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Total Expenditure
|
1393.600 |
KEY
RATIOS
|
PARTICULARS |
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|
31.03.2005 |
PAT / Total Income
|
(%)
|
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|
2.869 |
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Net Profit Margin
(PBT/Sales) |
(%) |
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|
2.869 |
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Return on Total Assets
(PBT/Total
Assets} |
(%) |
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4.813 |
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Return on Investment (ROI)
(PBT/Networth) |
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|
0.128 |
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Debt Equity Ratio
(Total
Liability/Networth) |
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|
1.685 |
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Current Ratio
(Current
Asset/Current Liability) |
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-- |
LOCAL AGENCY FURTHER INFORMATION
The company exports Mobile Cranes and Vibratory Compactors.
The company import Forklift Trucks, Articulated Booms Cranes
and Hamm AG.
The company is in trade terms with :
- Rajdoot
Enterprises, Visakhapatnam
- Unicom
Distributors, Mumbai
- TVS
Sundram Iyengar and Sons Limited, Chennai
- Daewoo
Heavy Industries
- Fassi
Gru Italy.
- Pneumatic
Tahdeur Rollers
History
Subject is a fully owned
subsidiary of Escorts Ltd, and belongs to one of the India's largest
multiproduct Engineering groups, with group sales turnover exceeding US $ 900
Million.
It
is a professionally managed company, established in 1971 to ensure focused
growth of construction equipment business. It is at the very heart of the
Construction and Material Handling equipment business and manufactures a
diverse range of equipments like Cranes, Loaders, Vibratory Rollers, etc.
It has sold over 12,000 machines in
India and Overseas market . It is a pioneer in introducing the concept of
Pick-N-Carry cranes in 70s in India and today is the World's largest producer
of "PICK-N-CARRY" HYDRAULIC MOBILE CRANES.
Subject
was the first to introduce the concept of DEALERSHIPS in the Indian
Construction Equipment Industry . It now has a nationwide Dealer network of 35
dealers and has over 10 Dealers overseas. It also has 12 Business Centres
located at all the strategic points. In keeping with its commitment to total
customer satisfaction & providing the best value for money by providing
technologically superior products ECEL has tie up with a number of
reputed International Companies - FRANNA CRANES PTY LTD., Australia and FASSI
GRU INDRAULICHE, Italy for Cranes, DAEWOO HEAVY INDUSTRIES, Korea for Forklifts,
JLG INDUSTRIES INC., USA for Aerial Work Platforms
MILESTONES:
1970 : “Yellow
Line” Construction Equipment Department (predecessor of
Escorts Construction Equipment Limited) formed.
1971 : Hydraulic
mobile Pick-n-Carry crane
Front
End Loader
1983 : Rough
Terrain Hydraulic mobile crane
1987 : Vibratory
Roller 10T Class
1995 : Escorts
Fassi Articulated Boom Cranes (1.72 Tm – 78 Tm)
Escorts Daewoo Fork Lift
Trucks (2T to 15T)
1996 : Escorts
JLG Aerial Work Platforms (15 feet to 150 feet)
v
Telescopic
Boom Lifts
v
Articulated
Boom Lifts
v
Scissor
Lifts and Personnel Lifts
1997 : Escorts
Franna All Terrain PNC crane
1999 : Escorts
K10
The
Next Generation Pick-N-Carry Crane
2000 : Escorts
– Hamm HD-85,
Tandem
Vibratory Roller
2001 : Escorts-M.-1000
Sugar
Cane Loader
DEALERS
WEST
|
v
Asian Engineering Sales Corporation |
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157/D/4, Jhamtani Chambers, |
|
Opp. KSB Pumps Ltd, Pimpri, Pune
411 118 |
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Ph : 91-20-2776478, 2773074,
2771733 |
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Fax : 91-20-2774118 |
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Contact Person: Mr. Xavier Joseph |
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v Garuda Sales
& Service |
|
Rajendra Nagar Chowk, Link Road |
|
Above Hero Honda Show Room |
|
Bilaspur 495 001 |
|
v Bhandari
Technotrade Pvt Ltd |
|
Rampurawala Bldg, 71 M.G. Road |
|
Indore 452 007 (MP) |
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Ph : 91-731-2533445, 2538547 |
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Fax : 91-731-2434757 |
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Contact Person: Mr. Nitin Bhandari |
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v B.B. Nigade
& Sons |
|
Nigade Garrage |
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NH-4, Sarnobatwadi |
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Kolhapur 416 009. |
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Ph : 91-231-2521043 |
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Fax : 91-231-521824 |
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v Cosfield Sales
& Service |
|
120 Mount Road, Sadar, Nagpur 440
001 |
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Ph: 91-712-2528540, 2534291,
2531027 |
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Fax: 91-712-2548430, 2531027 |
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Contact Person: Mr. Pramod Singh
Jamwal, Mr.Anil Taneja |
v
Mr.
Panigrahi
|
Khadilkar Sales & Services Ltd |
|
Tel : 91-265-2430081 |
v
Mr. Vinayak Joshi
|
Khadilkar Sales & Services Ltd |
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Ph: 91-261-2871806 |
|
v Rajiv
Enterprises Pvt Ltd |
|
Rajiv House, 4, Smrutikunj, Nr.
Navrangpura P.O. |
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Navrangpura, Ahmedabad 380 009 |
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Ph : 91-79-26568571, 26568574 |
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Fax 91-79-26423595 |
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Contact Person: Mr. Rajiv
Vastupal, Mr. Narendra Nainani |
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v Khadilkar Sales
& Services Ltd |
|
Parth Complex, Moti Khawdi, Nr.
Rly Crossing, |
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P.O. Digvijaygram, Jamnagar 361
008 |
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Ph: 91-288-244350 |
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Contact Person: Mr. Khanjan
Antani, 91-288-274064 ® |
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v Pratik Diesels |
|
194-D, Gaiwadi, Girgaum Road |
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Mumbai 400 004 |
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Ph : 91-22-23802036, 23826211, 23824236 (O) |
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Fax : 91-22-23850460, 2864645 |
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Contact Person: Mr. Pratik Shah,
Mr.Bharat Shah |
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v
Rajat Enterprises |
|
Naveen Bazar, Raipur 492 001 (Mp) |
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Ph : 91-771-2536771, 2536180, 2536733
(O) |
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Fax : 91-771-2536157 |
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Contact Person: Mr. Mahavir
Golecha |
|
v United
Prospects Pvt Ltd |
|
Near Datta Mandir |
|
Toleband Evorlim Novelim Salcete |
|
Margoa, Goa 403 707 |
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Ph : 91-2834-2733522, 2731745 Fax
: 91-834-2733521 |
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Contact Person: Mr. Damodar
Thakur, Mr. Srikant Desai |
EAST
|
v ABC Trading Pvt
Ltd |
|
308, Sumati Complex |
|
Boring Road, Patna 800 001 |
|
Ph : 91-612- 23263 ® Fax :
91-612-229159 |
|
Contact Person: Mr. V.K.Sahay |
|
v Chand Agencies |
|
Chand Villa, Bank Area |
|
Jamshedpur 831 001 |
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Ph : 91-657-2425960 (O) 2425960 ®
Fax : 91-657-2425960 |
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Contact Person: Mr. S.K.Chand, Mr
Rakesh Chand |
|
v Dhanbad
Tractors & Automobiles |
|
Shastri Nagar, Dhanbad 826 001 |
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Ph : 91-326-2307318 (O)
2302310,2305749 ® Fax : 91-326-2307318 |
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Contact Person: Mr. M.D. Poddar |
|
v Essem Tekno
Services Pvt Ltd |
|
Regd Off: 85, Elliot Road (3rd
Floor) |
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Calcutta 700 016 |
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Ph : 91-33-2291620 Fax :
91-33-2294347 |
|
Contact Person: Mr. S. Sen, Mr.R.
Sen |
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v Kasi Equipments |
|
No. 26, Forest Park, Bhubneshwar
751 009 |
|
Ph : 91-674-2538695, 2531984 (O)
2413093 (D) Fax : 91-674-2531168 |
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Email: ksspl@cal2.vsnl.net.in |
|
Contact Person: Mr. Sunil Taneja,
Mr. A. Mishra |
|
v Kasi Equipments |
|
N-18, Civil Township, Rourkela 769
004 |
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Ph : 91-661-2505650 |
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v Kasi Equipments |
|
Hotel Ganapathy, Po Kulad, Fci
Road, |
|
Naclo Nagar 759 122 , Angul,
Orissa |
|
Ph: 91-6760-220026 |
|
Fax : 91-6760-20464 |
|
v B.R.
Enterprises |
|
26, Srimanta Market |
|
A.T. Road, Guwahati 781 001 |
|
Ph :91-361-2523966 |
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Contact Person: Mr. Ranjit Budhia,
Mr. G.S.Agarwal |
SOUTH
|
v Stellas
Engineers Pvt Ltd |
|
N7 & N13, Unity Buildings |
|
J.C. Road, Bangalore 560 002 |
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Ph : 91-80-2211722, 2274020 |
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Fax : 91-80-2274325 |
|
Contact Person: Mr. P.S. Nathan |
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v Karnataka
Construction Equipments |
|
Opp. Head Post Office, Station
Road |
|
Bijapur 586 101 |
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Ph: 257516, 250216 (O) 250912 ®
Fax : 252216 |
|
Contact Person: Mr. J.N. Joshi,
Mr. P.J.Joshi |
|
v Meena
Engineering Equipments Pvt Ltd |
|
No. 106, Chenoy Trade Centre |
|
Parklane Road, Secunderabad 500
003 |
|
Ph : 91-40-27844955, 27869365 (O) |
|
Fax : 91-40-27844955 |
|
Contact Person: Mr. C.B.
Viswanathan |
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v Rajdoot
Enterprises |
|
Harbour Approach Road |
|
Visakhapatnam 530 001 |
|
Ph : 91-891-2563235, 2508616 |
|
Fax : 91-891-2560052 |
|
Contact Person: Mr. A.H.N. Venkat
Rao |
|
v Shan Ani Pro
Services |
|
230, Indira Nagar |
|
Neyveli 607 801, Tamil Nadu |
|
Ph : 91-4142-254516 |
|
Fax: 91-4142-254770 |
|
Contact Person: Mr. Lalit Loothra,
Mr.C.D.P.Kumar |
|
v Sundaram Motors |
|
25, Ganapathy Colony, Opp. Cenotaph
Road |
|
Teynampet, Chennai 600 018 |
|
Ph: 91-44-24362385 (O) |
|
Fax : 91-44-24322753 |
|
Contact Person: Mr. H.J. Iyer |
|
v T.V. Sundaram
Iyengar & Sons Ltd |
|
Post Box No. 21,211,South Veli
Street |
|
Madurai 625 001 |
|
Ph : 91-452-2628110 - 4, 232177 |
|
Fax: 91-452-2628118 |
|
Contact Person: Mr.S.Kannan |
|
v Karnataka
Construction Equipments |
|
H.No. 1052 "Shrinivas
Nilay" |
|
3rd Cross, Mrutyunjay
Nagar |
|
Hospet 583 203 |
NORTH
|
v Anand
Automobiles |
|
152, Civil Lines, Chowki Chauraha |
|
Bareilly 243 001 |
|
Ph : 91-581-2479829, 2470503 |
|
Fax : 91-581-2479829 |
|
Contact Person: Mr.Sanjay Anand |
|
v A Automovers
Pvt Ltd |
|
27/2 B.N. Road, Lucknow 226 001 |
|
Ph : 91-522-23318202, 2217146,
2216395 |
|
Fax : 91-522-2217146 |
|
Contact Person: Mr.B.S.Talwar |
|
v Agarwal
Enterprises |
|
2, Sardar Patel Marg, |
|
Civil Lines, Allahabad |
|
Ph : 91-532-2624938, 2624924,
420653, 2624398 |
|
Fax : 91-532-2420652 |
|
Contact Person: Mr. Naveen Chanda |
|
v Hi Tech Automobiles |
|
117/H-2/206, Pandu Nagar |
|
Kanpur 208 005 |
|
Ph : 91-512-2213268 (O); 2219844 ® |
|
Contact Person: Mr. Avinash Chadha
|
|
v Drillcon (Raj)
Pvt Ltd |
|
12a, Ambamata Scheme |
|
Opp. Dig Resience, Udaipur 313
001, Rajasthan |
|
Ph : 91-294-2524670, 2523976,
2522462 |
|
Fax : 91-294-2523876 |
|
Contact Person: Mr. Praful Mehta |
|
v Goel Motors |
|
Ranipur More, Goel Motors
Buildings |
|
Haridwar (UP) |
|
Ph : 91-133-2427072 |
|
Fax : 91-133-2416993 |
|
Contact Person: Mr. Sandeep Goel |
|
v M.K. Associates |
|
Main Road, Morwan, Singrauli 486
890, UP. |
|
Ph : 91-7805-267021 |
|
Fax : 91-7805-266658,267021 |
|
Contact Person: Mr.Mohan Bhutani,
Mr.Pankaj Bhutani |
|
v Spark Engines
Pvt Ltd |
|
H.O. SCF. 366, New Motor Market |
|
Mansa Devi Road, Manimajra |
|
Chandigarh 160 101 |
|
Ph : 91-172-2553066 |
|
Fax :91-72-26730961 |
|
Contact Person: Mr. A.K. Grover,
Mr. P.K.Verma |
|
v Tractor &
Machinery Corporation |
|
Opp. Roadways Bus Stand |
|
Station Road, Jaipur 302 006 (Raj) |
|
Ph : 91-141-2366980, 2360829,
2369584 |
|
Fax : 91-141-2379093 |
|
Contact Person: Mr. Mahendra
Agarwal, Mr.D.Kumar |
|
v Sabharwal Auto
Stores |
|
G.T. Road, Distt. Fetehgarh |
|
Mandi Gobindgarh 147 301 |
|
Ph : 91-1765-256569/256083 (O) |
|
Fax :91-1765-256083 |
|
Contact Person: Mr. Bansi Lal, Mr.
Roshan Lal |
|
v Prakash Motors |
|
1, Prakash Enclave |
|
Agra Mathura Bye Pass Road |
|
Agra 282 005, UP. |
|
Ph : 91-562-250211, 2350480 |
|
Fax : 91-562-2350914 |
|
Contact Person: Mr. Navneet Bansal |
|
v Tractor &
Machinery Corporation |
|
Khandelwal Charity Trust Bhawan |
|
Kotri Chouraha |
|
Kota 324 007 Ph : 91-774-220860 |
INTERNATIONAL
DEALERS
v
Paka Overseas
13/42 Kreishna
Galli, Lalitpur, GPO Box 2743
Kathmandu, Nepal
Tel 520302/3 Fax 977-1-526670/526529
E Mail: paka@mos.com.np
Contact Person: Mr.Badri K. Shrestha
v
Morang Auto Works
Engineering
Division
Ka 1/318, Tripureshwar, Teku Road,
P:O Box 1452, Kathmandu, Nepal
Phone 261160/261847 Fax 977 1 258935
E Mail : mawnepal@ccsl.com.np
Contact person Mr. Vishnu Agarwal/Mr. Ganesh Raghavan
v
Dax Engineering Co. Pvt. Ltd
97, Galle Road
Colombo 3
Sri Lanka
Tel 0094 1 4455585/448527
Contact Persons : Mr. S.S. Wijayasinghe, Chairman
v
Saif Powertec Corporation
873 Outer Circular
Road, First floor
South Shajahanpur
Dhaka 1217, Bangladesh
Tel 00 880 2 9335723/9350081 Fax 880 2 83 53 29
E Mail : saifop@bdmail.net
v
Darwish
Bin Ahmed & Sons
PO Box 28883
Abu Dhabi U.A.E.
Tel 02 5884800, Fax 02 5882242
E mail mandb@emireates.net.ae
Contact person : Mr. Ram Mohan
v
Arabian Engineering Services LLC
PO Box 3168, Ruwi,
Area Code 112
Sultanate of Oman
Tel 00 968 594702/Fax 561631
Contact Person : Mr. S.Nagarajan, Construction Equipment Division
v
600SA Holdings (Pty) Limited
Crn Director Road
and Green Avenue, Aeroport
Spartan Ext.2, PO Box 600,
Kempton Park 1620
South Africa
Tel 011 9294602/Fax 9294622
E Mail: group600@iafrica.com
Contact Person : Mr. Max Sheehan
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 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.45.89 |
|
UK Pound |
1 |
Rs.84.65 |
|
Euro |
1 |
Rs.57.78 |
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 |