MIRA
INFORM REPORT
|
Report Date : |
03.11.2006 |
IDENTIFICATION
DETAILS
|
Name : |
ACTION
CONSTRUCTION EQUIPMENTS LIMITED |
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Registered Office : |
Plot
No. 7, Pocket II Market, H - Block, Sarita Vihar, New Delhi – 110044 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
13.01.1995 |
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Com. Reg. No.: |
55 –
64347 |
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CIN No.: [Company
Identification No.] |
U74899DL1995PLC064347 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
RTKA02093A |
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PAN No.: [Permanent
Account No.] |
AAACA6089P |
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Legal Form : |
Public
Limited Liability Company. The
company’s shares are listed on the Stock Exchanges |
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Line of Business : |
Manufacturers
of Hydraulic Mobile Cranes, Earthmoving and Construction Equipment. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD
1500000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Usually
correct |
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Litigation : |
Clear |
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Comments : |
The
company came out with IPO in October, 2006 for a sum of Rs. 598 millions
[including premium], successfully. The Paid
up Capital has increased by Rs. 46.000 millions and remaining by premium [Rs.
552 millions]. Subject
is a well established and reputed company having fine track. Trade relations are fair. Financial position is satisfactory. Payments are usually correct and as per
commitments. The
company can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
|
Registered Office : |
Plot
No. 7, Pocket II Market, H - Block, Sarita Vihar, New Delhi – 110044 |
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Tel. No.: |
91-11-26953623
/ 26953626 / 26953633 |
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Fax No.: |
91-11-26953717 |
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E-Mail : |
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Website : |
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Corporate
Office/ Factory : |
Jajru
Road, 25th Mile Stone, Delhi Mathura Road, Ballabgarh, Faridabad
District, Haryana – 121004, Uttar Pradesh, India |
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Tel.
No.: |
91-129-2307922/2307933/2307924 |
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Fax
No.: |
91-129-2307562 |
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E-Mail
: |
works@ace-cranes.com |
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Factory
2 : |
Dudhola
Village Road, Dudhola, Faridabad, Haryana, Uttar Pradesh, India |
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Spares
& Product Support Division : |
17 /
Sector 11A, Mathura Road, Faridabad, Haryana, Uttar Pradesh, India |
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Tel.
No.: |
91-129-5087922
/ 33 |
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Fax
No.: |
91-129-5087924 |
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E-Mail
: |
DIRECTORS
|
Name : |
Mr. Vijay Agarwal |
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Designation : |
Whole
Time Director |
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Address : |
854,
Sector – 15 A, Faridabad, Haryana, India |
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Date of Birth/Age : |
13.01.1995 |
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DIN / PAN No. : |
00057634 |
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Name : |
Ms. Mona Agarwal |
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Designation : |
Whole
Time Director |
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Address : |
854,
Sector – 15 A, Faridabad, Haryana, India |
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Date of Birth/Age : |
13.01.1995 |
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Name : |
Mr.
Vijay Kumar Singh |
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Designation : |
Director
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Address : |
854,
Sector – 15 A, Faridabad, Haryana, India |
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Date of Birth/Age : |
14.11.1997 |
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DIN / PAN No. : |
00102292 |
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Name : |
Mr. Sorab Agarwal |
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Designation : |
Whole
Time Director |
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Address : |
House
No. 854, Sector – 15A, Faridabad – 121007, Haryana, India |
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Date of Appointment : |
20.03.1998 |
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DIN / PAN No. : |
00057666 |
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Name : |
Mr.
Subhash Chander Verma |
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Designation : |
Director
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Address : |
House No.
34, Greater Kailash – I, New Delhi – 110048, India |
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DIN / PAN No. : |
00098019 |
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Name : |
Mr.
Keshav Chandra Agarwal |
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Designation : |
Director
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Address : |
House
No. 350, Sector – 29, Noida – 201303, Uttar Pradesh, India |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
|
No. of Shares |
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Mr.
Deepak Sharma |
|
1000 |
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Mr.
Arun Malhotra |
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1000 |
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Mr.
Kundan Singh Attr |
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2000 |
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Mr.
Vaibhav Bansal |
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2000 |
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Mr.
Rajeev Puri |
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2000 |
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Mr. Vijay
Soni & Mr. Anooj Handa |
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2500 |
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Mr.
Jai Bhagwan Singh |
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1000 |
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Turno
Tools India |
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5000 |
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Mr.
Sudhir Kumar Kapoor |
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1500 |
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Mr.
Amar Singhal |
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10000 |
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Mr. D.
K. Agrawal |
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2000 |
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R R
Engineers & Fabricators |
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2000 |
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Mr. Narinder
Kumar Sharma |
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4000 |
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Mr.
Ajay Kumar Gupta |
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5000 |
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Mr. P.
K. Singh |
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1000 |
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Ms.
Neena Bajaj |
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4000 |
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Mr.
Sanjay Agrawal |
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2000 |
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Ms.
Sushma Bajaj |
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1000 |
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Ms.
Reeta Malik |
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5000 |
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Mr.
Parveen KR. Malik |
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5000 |
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Mr.
Amit Bohra |
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4000 |
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Mr.
Shrikant Jain |
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4000 |
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Ms.
Anupma Mittal |
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2000 |
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Ms.
Nilanjana Kishore |
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3000 |
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Asian
Contec Limited |
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10500 |
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Mr.
Rajan Kalra |
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40000 |
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Mr.
Vinay Nagrath |
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10500 |
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Mr.
Jayantilal L. Gala |
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8000 |
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Mr.
Subhash Chander Verma |
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5000 |
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Mr.
Aman Kishore |
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10000 |
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Ms.
Veena Kishore |
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10000 |
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Sturdy
Engineers |
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1000 |
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Dr.
Divya Singhal |
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4000 |
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Dr.
Amar Singhal |
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6000 |
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Mr.
Vijay Agarwal / Mrs. Mona Agarwal |
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5885130 |
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Mrs. Mona
Agarwal / Mr. Vijay Agarwal |
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5400660 |
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Mr.
Sorab Agarwal |
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414210 |
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Mr. W.
R. Chhabra |
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5000 |
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Mrs.
Manju Chhabra |
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2000 |
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Bennett,
Coleman & Company Limited |
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400000 |
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Ms.
Anuradha Garg |
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10000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers
of Hydraulic Mobile Cranes, Earthmoving and Construction Equipment. |
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Products : |
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GENERAL
INFORMATION
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Customers : |
Government Clients : Central Coalfields
Limited, Ranchi Western Coalfields
Limited, Nagpur South Eastern
Coalfields Limited, Bilaspur Northern Coalfields Limited,
Singrauli S.C.C.L., Kothagudem
Colleries Punjab State
Electricity Board, Ropar Punjab State
Electricity Board, Patiala Rajasthan State
Electricity Board, Jaipur C.P.R.I., Bhopal COFMOW, New Delhi Ordnance Factory,
Ambernath NHPC, Faridabad Chennai Port Trust,
Chennai South Eastern
Railway, Bhubaneshwar Southern Railway,
Chennai U.P. State Bridge
Corporation Limited, Lucknow NTPC Limited, Dadri Burns Standard,
Burnpur Department of
Irrigation, Roorkee Ministry of Defense,
New Delhi Delhi Jal Board P.W.D., Rishikesh Haryana Vidyut
Prasan Nigam Limited, Panchkula MPEB, Korba MPEB, Sarni Nepal Irrigation
Sector Project, Nepal Indian Oil
Corporation Limited, Vadodara BHEL, Kolkata and
Nagpur NALCO, Angul Paradip Port Trust NTPC, Vindhyachal Richardson Cruddas Gujrat Industries
Power Company Vikram Sarabhai
Space Centre Mangalore Refinery
and Petrochemicals Limited Haryana State
Supplies and Disposal South Central
Railway Integral Coach
Factory, Chennai Airport Authority of
India, Mumbai Municipal
Corporation, Hyderabad Indian Petrochemical
Corporation Limited, Nagothane Bridge and Roof,
Kolkata A.A.I., Chennai NTPC, Vizag Gujrat Electricity
Board, Baroda Nuclear Power, Kota NTPC, Rihand
DGQA
IFFCO
BSNL
BBMB
IISCO
ECL
Numaligarh Refinery
Private Clients : Reliance Industries
Limited, Mumbai Punj Lloyd Limited,
New Delhi ACC Limited, Madhya
Pradesh Cimmco Birla Limited
Shapoorji Pallonji
Company Limited, Mumbai Oswal Chemical Fertilizers
Limited, New Delhi Gannon Dunkerley
& Company Limited, Kolkata KEC International
Limited, Jaipur Gammon India
Limited, Mumbai PSL Holdings, Mumbai
SAE (India) Limited,
New Delhi Prakash Industries,
New Delhi Petron Civil
Engineering Limited, Mumbai Petron Engineering
Construction Limited, Mumbai Indure Limited, New
Delhi Dodsal Limited,
Mumbai Jyoti Structures
Limited, Nasik Express Crane Hiring
Company, Baroda Grasim Industries
Limited, Dharwad Humphreys &
Glasgow Consultants Limited, Mumbai Steel Products
Limited, New Delhi Vijay Tanks &
Vessels Limited, Baroda Globe Hi-Fab
Limited, New Delhi Shrinivas Plates
& Structural Co. Pvt. Limited, Mumbai Visakha Cements,
Chennai Kalptaru Power
Transmission Limited, Gandhinagar South India
Structural Corporation Limited, Chennai Maharishi Ayurveda,
Delhi Bharati Shipyards
Limited, Mumbai IVR Construction
Limited, Hyderabad Nile Limited,
Hyderabad R. K. Marbles,
Udaipur Duncan Industries,
Kanpur Gayatri Products,
Hyderabad Adani Port Limited,
Ahmedabad Jindal Polyesters
Limited, New Delhi Gujrat Ambuja Cement
Johnson Eastern
Power, Aizwal Spic Jel Engineering
Constructions, Chennai A. L. Sudershan,
Hyderabad Sumitomo
Corporation, Philippines Patel Engineering,
Mumbai Simplex Concrete
Piles, Calcutta ACE Pipe Lines,
Mumbai B. G. Shirke, Pune
L.G. / Patel JV,
Vapi Praj Industries,
Pune Jai Hind Projects,
Ahmedabad Degremont Projects,
Delhi Alstom Power, Delhi
Tata Chemicals
Limited, Uttar Pradesh Ahluwalia Contracts,
Delhi Beekay Engineering
(BSBK), Bhilai New Structo, Surat
ISPAT Limited,
Nagpur Arvind
Techno/Somdutt Builders, Delhi Mukat Pipes, Mumbai
Havell's, Delhi
BSES
ABG, Mumbai
Bajaj Sugar, U.P.
Essar
Nagarjuna
L & T (ECC)
Hindalco
ABB
Unitech
UB Engineering
Krupp
Welspun
ISGEC
IJM
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Bankers : |
Punjab National Bank 46 – Dohil Chamber, Nehru Place, New Delhi – 110019 ICICI Bank
Limited NBCC Place,
Bhishma Pitamah Marg, Pragati Vihar, New Delhi – 110003, India E-mail : appl.helpdesk@mca.gov.in |
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Banking Relations : |
Satisfactory
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Auditors : |
Rajan
Chhabra & Company Chartered
Accountants, 32A,
Sector – 11 E, Faridabad – 121006, Haryana, India |
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Tel. No.: |
91-129-2224557
/ 5008089 |
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Mobile No.: |
91-9811058089 |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
20000000 |
Equity
Shares |
Rs. 10/- each |
Rs. 200.000 millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
13377000 |
Equity
Shares |
Rs. 10/- each |
Rs. 133.770 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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|
SHAREHOLDERS FUNDS |
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|
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1] Share Capital |
133.770 |
16.735 |
13.985 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
275.445 |
89.913 |
29.939 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
409.215 |
106.648 |
43.924 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
15.087 |
25.693 |
22.726 |
|
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2] Unsecured Loans |
0.000 |
0.671 |
18.400 |
|
|
TOTAL BORROWING |
15.087 |
26.364 |
41.126 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.618 |
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|
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TOTAL |
424.302 |
133.012 |
85.668 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
124.568 |
43.555 |
39.481 |
|
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Capital work-in-progress |
2.379 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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Inventories |
122.918 |
65.817 |
39.867 |
|
|
Sundry Debtors |
210.563 |
121.111 |
38.632 |
|
|
Cash & Bank Balances |
66.624 |
8.045 |
5.726 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
177.233 |
37.018 |
6.847 |
|
Total Current Assets |
577.338 |
231.991 |
91.072 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
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Current Liabilities |
187.208 |
117.830 |
43.827 |
|
|
Provisions |
96.104 |
24.704 |
1.058 |
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Total Current Liabilities |
283.312 |
142.534 |
44.885 |
|
|
Net Current Assets |
294.026 |
89.457 |
46.187 |
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MISCELLANEOUS EXPENSES |
3.329 |
0.000 |
0.000 |
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TOTAL |
424.302 |
133.012 |
85.668 |
|
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Sales Turnover [including other
income] |
1659.892 |
879.367 |
418.499 |
|
|
|
|
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|
Profit/(Loss)
Before Tax |
198.522 |
67.423 |
3.925 |
|
Provision
for Taxation |
0.000 |
23.699 |
1.436 |
|
Profit/(Loss)
After Tax |
198.522 |
43.724 |
2.489 |
|
|
|
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|
Export
Value |
N.A. |
5.765 |
1.878 |
|
|
|
|
|
|
Total
Expenditure |
1461.369 |
811.943 |
414.574 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
11.95
|
4.97 |
0.59 |
|
|
|
|
|
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|
Net
Profit Margin (PBT/Sales) |
(%) |
11.95
|
7.66 |
0.93 |
|
|
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|
Return
on Total Assets (PBT/Total
Assets} |
(%) |
28.28
|
24.46 |
3.00 |
|
|
|
|
|
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|
Return
on Investment (ROI) (PBT/Networth) |
|
0.48
|
0.63 |
0.08 |
|
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|
Debt
Equity Ratio (Total
Liability/Networth) |
|
0.72
|
1.58 |
1.95 |
|
|
|
|
|
|
|
Current
Ratio (Current
Asset/Current Liability) |
|
2.03
|
1.62 |
2.02 |
LOCAL AGENCY
FURTHER INFORMATION
Subject
was incorporated on 13th January, 1995 under the Companies Act, 1956
as Action Construction Equipments Private Limited and received a fresh Certificate
of Incorporation on October 4, 2005 consequent to change of name to Action
Construction Equipments Limited.
Further the name of the company has been changed to Action Construction
Equipment Limited with effect from March 23, 2006.
The
company’s Registered Office was shifted from 352, Mandankini Enclave, New Delhi
– 110019 to the present address w.e.f. 21st May, 1998.
Public
Issue of 4600000 Equity Shares of Rs. 10/- each issued for cash at a premium of
Rs. 120/- per Equity Share and at a Price of Rs. 130/- per Equity Share
aggregating to Rs. 598 millions [hereinafter referred to as “The Issue”]
including employees reservation of 100000 Equity Shares of face value of Rs.
10/- each at a price of Rs. 130/- for cash aggregating Rs. 13 millions and net
issue to the public of 4500000 Equity shares of face value of Rs. 10/- each at
a premium of Rs. 120/- per equity share and at a price of Rs. 130/- per equity
share for cash aggregating Rs. 585 millions [hereinafter referred to as the
“Net Issue to the Public”]. The net
issue to the public would constitute 25.03% of the fully diluted post issue
paid – up capital of the company.
Fixed
Assets
Land,
Computer, Electric Equipment, Plant & Machinery, Furniture & Fixtures,
Fax Machine, Generators, Scooters, Type Writers, Test Weights, Motor Vehicles,
Photocopy Machines, Air Conditioners, Cooler & Refrigerator, Cranes,
Building, etc.
|
Name of the company |
ACTION CONSTRUCTION EQUIPMENT PRIVATE LIMITED |
|
Presented By |
Director [Hereinafter referred to as ‘The Company’] |
|
1) Date and description of instrument creating the change |
Deed of Hypothecation to secure FLC (DA/DP) trading facility dated 07.02.2000 registered on 22.02.2000, Modified on 07.02.2000, 18.08.2001 and 29.07.2002, Regd., on 22.02.2000, 03.09.2001 and 27.08.2002 up to Rs. 5.000 millions |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 10.000 millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation of goods / assets is represented by documents drawn / covered under letter of credit issued under the above said limit and finished goods |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Interest / Comm. As per bank rules changes from time to time |
|
5) Name and Address and description of the person entitled to the charge. |
Punjab National Bank 46 – Dohil Chamber, Nehru Place, New Delhi – 110019 |
|
6) Date and brief description of instrument modifying the charge |
Letter regarding equitable mortgage created on 25.01.2005 |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
The said FLC (DA) limit of Rs. 5 millions is now collaterally secured by equitable mortgage of immovable property i.e. office / shop no. 96, Ist Floor, East Street, Galleria Complex, [Powel Plaza] Pune – 411001 Other terms and conditions same |
Form 8 Particular for creation or modification of charges
|
Corporation
identity number or foreign company registrations number of the company |
U74899DL1995PLC064347 |
|
Name of the
company |
ACTION CONSTRUCTION EQUIPMENT PRIVATE LIMITED |
|
Address |
Plot
No. 7, Pocket II, Market Sarita Vihar, New Delhi – 110044 |
|
This Form is for
|
Modification of
charge |
|
Type of Charges |
Hypothecation, equitable
mortgage or mortgage of property by depositing the title deeds and others |
|
Particular of
the charge holder |
ICICI Bank
Limited NBCC Place,
Bhishma Pitamah Marg, Pragati Vihar, New Delhi – 110003, India E-mail : appl.helpdesk@mca.gov.in |
|
Amount Secure by
the charge |
Rs. 80.000
millions |
|
Date of
instrument modifying the charge |
28.07.2006 |
|
Brief of the
principal terms and conditions and extent and operation of the charge |
The above is to
secure the following facilities : Cash Credit [CC]
Limit of Rs. 50 million Working Capital
Demand Loan [WCDL] [Sub-limit of CC Limit of Rs. 30 millions] Derivates
[Sub-limit of CC Limit] of Rs. 1.20 million LC Limit of Rs.
30 millions BG Limit
[Sub-limit of LC Limit] of Rs. 15 million |
|
Description of
the property charge whether it is a charge on |
Immovable
Properties, Plant and Machinery, Furniture and Fixtures, Stock in trade, Book
debts, Vehicles and Others |
|
Modification
charge Charge
identification number of the charge to be modified |
80002427 |
|
Brief
description of the instrument modifying the charge |
Letter ceding
pari passu charge issued by ICICI Bank dated 28.07.2006 |
|
Particulars of
the Property charged |
Property situated
at Jajru Road, 25th Mile Stone, Mathura Road, Ballabgah, Haryana |
|
Particulars of
present modification |
For mortgage and
charge of ICICI shall in all respects rank pari passu with the mortgage and
charges of Citi Bank N.A. to secure their working capital facilities of Rs.
120 millions |
|
Corporation
identity number or foreign company registrations number of the company |
U74899DL1995PLC064347 |
|
Name of the
company |
ACTION CONSTRUCTION EQUIPMENT PRIVATE LIMITED |
|
Address |
Plot
No. 7, Pocket II, Market Sarita Vihar, New Delhi – 110044 |
|
This Form is for
|
Modification of
charge |
|
Type of Charges |
Hypothecation,
equitable mortgage or mortgage of property by depositing the title deeds and
others |
|
Particular of the
charge holder |
ICICI Bank
Limited NBCC Place,
Bhishma Pitamah Marg, Pragati Vihar, New Delhi – 110003, India E-mail : appl.helpdesk@mca.gov.in |
|
Amount Secure by
the charge |
Rs. 80.000
millions |
|
Date of
instrument modifying the charge |
12.05.2006 |
|
Brief of the
principal terms and conditions and extent and operation of the charge |
The above is to
secure the following facilities : Cash Credit [CC]
Limit of Rs. 50 million Working Capital
Demand Loan [WCDL] [Sub-limit of CC Limit of Rs. 30 millions] Derivates
[Sub-limit of CC Limit] of Rs. 1.20 million LC Limit of Rs.
30 millions BG Limit
[Sub-limit of LC Limit] of Rs. 15 million |
|
Description of
the property charge whether it is a charge on |
Immovable
Properties, Plant and Machinery, Furniture and Fixtures, Stock in trade, Book
debts, Vehicles and Others |
|
Modification
charge Charge
identification number of the charge to be modified |
80002427 |
|
Brief
description of the instrument modifying the charge |
Letter of
amendments to master facility agreement & master facility agreement dt.
12.05.2006 |
|
Particulars of
the Property charged |
Property
situated at Jajru Road, 25th Mile Stone, Mathura Road, Ballabgah,
Haryana |
|
Particulars of present
modification |
Interest on cash
credit limit has been changed as following 3.25% below IBAR + CC Pemia at
monthly rests subject to a minimum of 10% p.a. The ICICI IBAR as on date is
12.75% p.a. and The CC Premia as on |
WEBSITE
DETAILS
ACE, Action Construction Equipment Limited is the leading mobile crane manufacturing company in India which has progressed all along to become a professionally managed ISO 9OOI Certified company. ACE is promoted by a technocrat, assisted by a team of experienced managers and engineers, managers and engineers.
ACE is a dynamic and
powerful enterprise with it's full fledged production facilities based in
industrial township of Faridabad, which is 45 Kms. from New Delhi, National
Capital of India.
ACE equipment is being
successfully used in many industrial sectors like infrastructure, construction,
roads, engineering industry, coal mines, chemical and fertilizer plants, power
stations, ports, heavy project engineering industry, railways, cement industry,
oil industry, defense etc. to name a few. ACE range of cranes can be adapted to
satisfy a vast range of possible applications due to their versatility.
In India ACE has
conquered a consolidated presence in it's sector. An efficient sales and
service network and a comprehensive follow up system makes it possible to
provide, all customers with efficient distribution and service assistance that
has the priority of satisfying their real needs.
The policy of responding with speed and expertise has been rewarded over the
years by a constant growth of the company and today ACE is a leading
manufacturer of cranes in the country.
ACE has always firmly
believed in the quality of it's products and product support, ever since it's
inception and this is the secret of their capacity to satisfy customers.
First rate team work
and carefully targeted investment in technology and human resources has made
ACE one of the most efficient business in it's sector.
ACE has it's central
marketing office in New Delhi and workforce employed in the sections of
production, research and development, materials, marketing, after sales
assistance, finance and administration are engaged to take the company to new
horizons of success. This fact and accurate organizational structure allows
customers to promptly receive technical solutions that fully satisfy their
requirements.
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.44.68 |
|
UK
Pound |
1 |
Rs.85.17 |
|
Euro |
1 |
Rs.57.07 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|