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MIRA
INFORM REPORT
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Report Date : |
01.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
ARIHANT
CHEMICALS AND RESINS (INDIA) PRIVATE LIMITED |
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Registered Office : |
11,
Peninsula Centre S. S. Rao Road, off Dr. Ambedkar Road, Parel, Mumbai -
400009, 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 : |
28.02.2003 |
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Com. Reg. No.: |
11-139400 |
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CIN No.: [Company
Identification No.] |
U51102MH2003PTC139400 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMA18787G |
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PAN No.: [Permanent
Account No.] |
AAECA1296P |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
The
company is engaged in trading activities, energy is only utilised for office
electrical equipments and lights. |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD
35000 |
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Status : |
Good |
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Payment Behaviour : |
Usually
correct |
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Litigation : |
Clear |
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Comments : |
Subject
is a well established and reputed company having fine track. Financial
position are correct and as per commitments. The
company is doing well. It can be considered good for normal business dealings
at usual trade terms and conditions. It can be regarded as a promising
business partner in a medium to long run. |
LOCATIONS
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Registered Office / Corporate Office : |
11,
Peninsula Centre S. S. Rao Road, off Dr. Ambedkar Road, Parel, Mumbai -
400009, Maharashtra, India |
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Tel. No.: |
91-22-66606777
(5 lines) |
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Fax No.: |
91-22-66608077 |
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E-Mail : |
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Website : |
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Branch office : |
Ahmedabad: M/s
Bright Exim Private Limited Bangalore: Mr.
S.Santhanam Chennai: Mr.
K.P.Nair Delhi: Mr.
Deep Narayan Tripathi Indore: M/s
J.J.Associates Kolkata: M/s
Valabhji Vanmali Pune: Mr. Chandrashekar Rege |
DIRECTORS
|
Name : |
Mr.
Bhupendra G Sakaria |
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Designation : |
Director
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Date of Birth/Age : |
24/08/1939 |
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Date of Appointment : |
28/02/2003 |
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Name : |
Ms.
Aruna B Sakaria |
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Designation : |
Director
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Date of Birth/Age : |
20/01/1951 |
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Date of Appointment : |
30/11/2004 |
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Name : |
Ms.
Shwetal B Sakaria |
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Designation : |
Director
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Date of Birth/Age : |
06/06/1980 |
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Date of Appointment : |
28/02/2003 |
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Name : |
Ms.
Khushi S Sakaria |
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Designation : |
Director
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Date of Birth/Age : |
20/10/1983 |
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Date of Appointment : |
30/11/2004 |
MAJOR SHAREHOLDERS
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Names
of Shareholders |
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No. of Shares |
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Bhupendra
G Sakaria |
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90970 |
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Shwetal
B Sakaria |
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80000 |
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Aruna
B Sakaria |
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10000 |
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Bhupendra
G Sakaria (HUF) |
|
1000 |
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Khushi
S Sakaria |
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10000 |
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Kanchi
Nilesh Mehta (under the Guardianship of Rupal N Mehta) |
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1000 |
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Rupal
N Mehta |
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1000 |
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Rupal
Snehal Shah |
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1000 |
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Snehal
C Shah |
|
1000 |
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Viral
J Sakaria |
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1000 |
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Sujata
V Sakaria |
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1000 |
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Dimple
P Vasa |
|
1000 |
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Abhay
Rajnikant Shah (HUF) |
|
10 |
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Ajay
Rajnikant Shah (HUF) |
|
10 |
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Rajnikant
Kodarlal Shah (HUF) |
|
10 |
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Kartik
Shashikant Mehta |
|
1000 |
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Total
|
|
200000 |
BUSINESS DETAILS
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Line of Business : |
The
company is engaged in trading activities, energy is only utilised for office
electrical equipments and lights. |
GENERAL
INFORMATION
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Bankers : |
Union Bank of India, Khand Bazar Branch, 109, Kazi Sayed Street, Khand Bazar, Mumbai – 400003 |
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Facilities : |
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Banking Relations : |
Satisfactory
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Auditors : |
Raichura
Unadkat and Company Chartered
Accountants 501,
Sharda Chambers, Sir Vithaldas Thackersey Road, New Marine Lines, Mumbai –
400020 |
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Tel. No.: |
91-22-22003659
/ 22005930 |
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Fax No.: |
91-22-22090916 |
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E-Mail : |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
250000 |
Equity
Shares |
Rs. 10/- each |
Rs. 2.500 millions |
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Issued,
Subscribed & Paid-up Capital :
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No.
of Shares |
Type |
Value |
Amount |
|
200000 |
Equity
Shares |
Rs. 10/- each |
Rs. 2.000 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 |
|
2.000 |
2.000 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
7.232 |
2.925 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
9.232 |
4.925 |
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LOAN FUNDS |
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1] Secured Loans |
|
7.442 |
5.760 |
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2] Unsecured Loans |
|
48.568 |
40.310 |
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TOTAL BORROWING |
|
56.010 |
46.070 |
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DEFERRED TAX LIABILITIES |
|
0.032 |
0.018 |
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TOTAL |
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65.273 |
51.013 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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14.488 |
14.170 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
|
20.016 |
8.252 |
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Sundry Debtors |
|
82.222 |
67.918 |
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Cash & Bank Balances |
|
0.088 |
0.046 |
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Other Current Assets |
|
0.000 |
0.000 |
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Loans & Advances |
|
12.287 |
6.343 |
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Total Current Assets |
|
114.613 |
82.559 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
|
63.857 |
45.760 |
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Provisions |
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Total Current Liabilities |
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63.857 |
45.760 |
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Net Current Assets |
|
50.756 |
36.799 |
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MISCELLANEOUS EXPENSES |
|
0.029 |
0.044 |
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TOTAL |
|
65.273 |
51.013 |
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PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
|
Sales Turnover [including other income] |
|
322.586 |
244.820 |
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Profit/(Loss)
Before Tax |
|
7.265 |
4.683 |
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Provision
for Taxation |
|
2.731 |
1.737 |
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Profit/(Loss)
After Tax |
|
4.534 |
2.946 |
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Export
Value |
|
9.423 |
0.018 |
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Total
Expenditure |
|
315.321 |
240.137 |
KEY
RATIOS
|
PARTICULARS |
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|
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
|
1.41 |
1.20 |
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Net
Profit Margin (PBT/Sales) |
(%) |
|
2.25 |
1.91 |
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Return
on Total Assets (PBT/Total
Assets} |
(%) |
|
5.63 |
4.84 |
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Return
on Investment (ROI) (PBT/Networth) |
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|
0.79 |
0.95 |
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Debt
Equity Ratio (Total
Liability/Networth) |
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12.98 |
18.65 |
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Current
Ratio (Current
Asset/Current Liability) |
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|
1.79 |
1.80 |
LOCAL AGENCY
FURTHER INFORMATION
Fixed
Assets :
Ř
Godown
Ř
Office
Premises
Ř
Computer
Ř
Furniture
and Fixtures
Ř
Office
Equipments
Ř
Residential
Property
Ř
Motor
Vehicles
Performance
:
The
company’s performance was satisfactory during the year.
AS PER WEBSITE
The company established their business in 1967, catering mainly
Printing Ink Industries. In 1970, they expanded their activities to other
industry like Paints & Coatings.
There is a reason why many of today's leading companies in PICA (Paints, Inks,
Coatings & Adhesives) industry are associated with Arihant Chemicals & Resins (I) Private Limited
for their requirement of vital speciality chemicals. Their unparalleled global
resources include strategic relationships with their principals, both domestic
as well as international.
Throughout their development, they have increased their product range
concentrating its efforts on products that deliver the greatest value to the
clients. More and more of Ink and Paint manufacturers rely on us. It is because
they not only have a complete range of Indigenous & Imported raw materials
but they also have a strong supply position. They maintain inventories of many
hard-to-get products.
Their success is direct result of well-trained and dedicated team of
professionals with extensive experience in a wide range of chemicals. With an
eye on the future, they invest and train their staff for tomorrow's needs as
well as today's requirements.
They recognize that their ambition can only be achieved with the
involvement of all their employees into one well-allied machine and by building
partnership with their principals and their clients along with the community in
which they operate.
Their unmatched warehousing with compartmentalized state of art storing
facility for respective products with extensive distribution network, ensures that
you receive the right product at the right time.
With feet firmly planted on today and with foresight into the future they
invest and reinvest their sources on products of future. Its all here, all from
one supplier – ARIHANT CHEMICALS
& RESINS (I) PRIVATE LIMITED See for thyself, why they are
the pacesetters in Speciality Chemicals.
FUTURE VISION
Adding Value To The Chemistry is the
aim and goal of their organization, strengthening the position of their
clients, whether they operate regionally or globally, with products and problem
solutions continuously optimized for their benefit.
|
Name of the company |
ARIHANT CHEMICALS AND RESINS INDIA PRIVATE LIMITED |
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Presented By |
Union
Bank of India, Khand Bazar Branch, Mumbai |
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1) Date and description of instrument creating the change |
Hypothecation agreement of good and debts dated 24th November, 2003 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 10.000 millions |
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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 |
The Borrower hereby hypothecation by way of first charge in favour of the Bank: Hypothecation of good received under DA /L/C and all movable property of any kind now or at any time hereafter belonging to or at the disposal of the Borrower and which are now stored or being stored or which hereafter may from time to time by brought in into or stored or be in or about the borrowers premises or godwons at Bhiwnadi and at other places hired by the Borrower for the purpose of storage in the Union of India and all other place of storage whatsoever at any other place in the Union of India or wherever else they may be including any of the said goods with any of the Borrowers agents or at any of the Borrowers agencies or in course of transit by the ship, rail or otherwise and The Borrowers book dents, outstanding, monies, deposits, receivable, claims and bills contracts, securities, investments which are now due and owing or which may at any time hereafter during the continuance of this security becoming due and owing to the Borrower in the course if uts business by any person or party including any government or any local or public body or authority which are hereinafter collectively referred to as the said debts. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest at the rate of 14.5 % p.a. with monthly rests or at such other revised rates as may be prescribed by the bank from time to time depending upon the change in the Prime Lending Rate of the Bank or the directives of Reserve Bank of India from time to time or the policy of the Bank on advance from Imp L/C facility of Rs. 10.000 millions granted by the Bank to the Company. Margin : 25 % |
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5) Name and Address and description of the person entitled to the charge. |
Union Bank of India Khand Bazar Branch 109, Kazi Sayed Street, Khand Bazar Mumbai – 400003 |
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6) Date and brief description of instrument modifying the charge |
Supplementary Agreement to hypothecation agreement of Goods and dents dated 27th May 2004 |
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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 original charge dated 24/11/2003 for Rs. 10.000 millions has been modified from time to time as under. On 14/01/2004 an Equitable Mortgage by way of deposit of Title deeds was created in respect of company’s immovable property viz. A Unit admeasuring about 1158 sq. ft. carpet area along with the right to use the open car spaces bering nos. 01,02 and 03 being Unit No. 011 on the ground floor of the Building known as Peninsula Centre constructed on all those pieces and parcels of land admeasuring about 77,711.31 sq. ft. bearing cadastral survey Nos. 63/74, 107 of Parel Sewri Division, situated at Parel in the Registered district and Sub district of Mumbai city to secure the due repayment to Union Bank of India of all the amount advanced or to be advanced and of all the amount under the Import L/C facility of Rs. 10.000 millions granted or to be granted by Union Bank of India to the Company together with interest, compound interest and / or additional interest in case of default, exchange flections, costs, charges, expenses etc. The total charge remains at the same level of Rs. 10.000 millions Vide this modification an additional sum of Rs. 5.000 millions has been granted by Bank thereby enhancing Imp L/C facility form Rs. 10.000 millions to Rs. 15.000 millions and the security of hypothecation goods and book debts covered by the principal hypothecation agreement shall continue to be a security for the Bank for the enhanced limit of Rs. 15.000 millions together with interest at the rate of 14.25 % p.a. with monthly. Rests or such other rate as may be revised by the Bank form time to time depending on the change in P L R of the Bank or directives of RBI or policy of the Bank from time to time and that all other terms and conditions in Principal Hypothecation agreement shall remain unchanged and shall continue to be applicable to the revised limit of Rs. 15.000 millions and be bending on the borrowers. |
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Name of the company |
ARIHANT CHEMICALS AND RESINS INDIA PRIVATE LIMITED |
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Presented By |
Union
Bank of India, Khand Bazar Branch, Mumbai |
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1) Date and description of instrument creating the change |
Hypothecation agreement of book debts dated 24th November, 2003 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 3.000 millions |
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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 way of first charge of all the borrowers present and future book dents, outstanding, monies, deposits, receivable, claims and bills contracts, securities, investments , rights and assets. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest at the rate of 14.5 % p.a. with monthly rests or at such other revised rates as may be prescribed by the bank from time to time depending upon the change in the Prime Lending Rate of the Bank or the directives of Reserve Bank of India from time to time or the policy of the Bank on advance from SOD Book debts facility of Rs. 3.000 millions granted by the Bank to the Company. Margin : 50 % |
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5) Name and Address and description of the person entitled to the charge. |
Union Bank of India Khand Bazar Branch 109, Kazi Sayed Street, Khand Bazar Mumbai – 400003 |
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6) Date and brief description of instrument modifying the charge |
Supplementary Agreement to hypothecation agreement of Book debts dated 27th May 2004 |
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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 original charge dated 24/11/2003 for Rs. 3.000 millions has been modified from time to time as under. On 14/01/2004 an Equitable Mortgage by way of deposit of Title deeds was created in respect of company’s immovable property viz. A Unit admeasuring about 1158 sq. ft. carpet area along with the right to use the open car spaces bering nos. 01,02 and 03 being Unit No. 011 on the ground floor of the Building known as Peninsula Centre constructed on all those pieces and parcels of land admeasuring about 77,711.31 sq. ft. bearing cadastral survey Nos. 63/74, 107 of Parel Sewri Division, situated at Parel in the Registered district and Sub district of Mumbai city to secure the due repayment to Union Bank of India of all the amount advanced or to be advanced and of all the amount under the Import L/C facility of Rs. 10.000 millions granted or to be granted by Union Bank of India to the Company together with interest, compound interest and / or additional interest in case of default, exchange flections, costs, charges, expenses etc. The total charge remains at the same level of Rs. 3.000 millions Vide this modification an additional sum of Rs. 2.000 millions has been granted by Bank thereby enhancing Imp L/C facility form Rs. 3.000 millions to Rs. 5.000 millions and the security of hypothecation goods and book debts covered by the principal hypothecation agreement shall continue to be a security for the Bank for the enhanced limit of Rs. 5.000 millions together with interest at the rate of 12.75 % p.a. with monthly. Rests or such other rate as may be revised by the Bank form time to time depending on the change in P L R of the Bank or directives of RBI or policy of the Bank from time to time and that all other terms and conditions in Principal Hypothecation agreement shall remain unchanged and shall continue to be applicable to the revised SOD Book debts limit of Rs. 5.000 millions. |
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Name of the company |
ARIHANT CHEMICALS AND RESINS INDIA PRIVATE LIMITED |
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Presented By |
Union
Bank of India, Khand Bazar Branch, Mumbai |
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1) Date and description of instrument creating the change |
Letter of Hypothecation of good and bills dated 08/01/2005 Packing credit agreement dated 08/01/2005 (Both the above agreement constitute a single charge ) |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 9.400 millions
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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 by way of first charge in favour of the Bank all movable property of the borrower meant or intended or export of goods such as chemicals, drugs and resings including raw materials, semi finished goods and finished goods and finished goods and any other goods meant or intended or being manufactured for export lying in the factory or stored at the borrower factory or in sheds whether situate in the main factory shed or godwns at Bhiwandi own at shed hired by the Borrower for storage wherever situate and or in transit belonging to or that may at any time during the continuance of this security belong to the Borrower and meant or intended or being manufactured for export or that may be held by any party to the order and disposition of the Borrower all of which said property goods and assets both and present and future. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest at the rate of 7 % p.a. with monthly rests for FDBP under L/C facility of Rs. 9.400 millions granted by the Bank to the Company. Interest at the rate of 7 % p.a. for packing credit facility of Rs. 5.700 millions as sub limit within the overall FDBP under L/C facility of Rs. 9.400 millions granted by the Bank to the Company. |
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5) Name and Address and description of the person entitled to the charge. |
Union Bank of India Khand Bazar Branch 109, Kazi Sayed Street, Khand Bazar Mumbai – 400003 |
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6) Date and brief description of instrument modifying the charge |
Not Available |
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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. |
Not Available |
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Name of the company |
ARIHANT CHEMICALS AND RESINS INDIA PRIVATE LIMITED |
||||
|
Presented By |
Union
Bank of India, Khand Bazar Branch, Mumbai |
||||
|
1) Date and description of instrument creating the change |
Hypothecation agreement of book debts dated 24th November, 2003 |
||||
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 3.000 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 way of first charge of all the borrowers present and future book dents, outstanding, monies, deposits, receivable, claims and bills contracts, securities, investments , rights and assets. |
||||
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Interest at the rate of 14.5 % p.a. with monthly rests or at such other revised rates as may be prescribed by the bank from time to time depending upon the change in the Prime Lending Rate of the Bank or the directives of Reserve Bank of India from time to time or the policy of the Bank on advance from SOD Book debts facility of Rs. 3.000 millions granted by the Bank to the Company. Margin : 50 % |
||||
|
5) Name and Address and description of the person entitled to the charge. |
Union Bank of India Khand Bazar Branch 109, Kazi Sayed Street, Khand Bazar Mumbai – 400003 |
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6) Date and brief description of instrument modifying the charge |
Supplementary Agreement to hypothecation agreement of Book debts dated 29/12/2004 |
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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 original charge dated 24/11/2003 for Rs. 3.000 millions has been modified from time to time as under. On 14/01/2004 an Equitable Mortgage by way of deposit of Title deeds was created in respect of company’s immovable property viz. A Unit admeasuring about 1158 sq. ft. carpet area along with the right to use the open car spaces bering nos. 01,02 and 03 being Unit No. 011 on the ground floor of the Building known as Peninsula Centre constructed on all those pieces and parcels of land admeasuring about 77,711.31 sq. ft. bearing cadastral survey Nos. 63/74, 107 of Parel Sewri Division, situated at Parel in the Registered district and Sub district of Mumbai city to secure the due repayment to Union Bank of India of all the amount advanced or to be advanced and of all the amount under the Import L/C facility of Rs. 10.000 millions granted or to be granted by Union Bank of India to the Company together with interest, compound interest and / or additional interest in case of default, exchange flections, costs, charges, expenses etc. On 27/05/2004 an additional sum of Rs. 2.000 millions has been granted by Bank thereby SOD facility form Rs. 3.000 millions to Rs. 5.000 millions and the security of hypothecation goods and book debts covered by the principal hypothecation agreement shall continue to be a security for the Bank for the enhanced limit of Rs. 5.000 millions together with interest at the rate of 12.75 % p.a. with monthly. Rests or such other rate as may be revised by the Bank form time to time depending on the change in P L R of the Bank or directives of RBI or policy of the Bank from time to time and that all other terms and conditions in Principal Hypothecation agreement shall remain unchanged and shall continue to be applicable to the revised SOD Book debts limit of Rs. 5.000 millions. Vide this modification an additional sum of Rs. 6.000 millions has been granted by Bank thereby SOD facility form Rs. 5.000 millions to Rs. 11.000 millions and the security of hypothecation goods and book debts covered by the principal hypothecation agreement shall continue to be a security for the Bank for the enhanced limit of Rs. 11.000 millions together with interest at the rate of 12.75 % p.a. with monthly. Rests or such other rate as may be revised by the Bank form time to time depending on the change in P L R of the Bank or directives of RBI or policy of the Bank from time to time and that all other terms and conditions in Principal Hypothecation agreement shall remain unchanged and shall continue to be applicable to the revised SOD Book debts limit of Rs. 11.000 millions. Thus the total changes made of the level of Rs. 11.000 millions. |
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Name of the company |
ARIHANT CHEMICALS AND RESINS INDIA PRIVATE LIMITED |
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Presented By |
Union
Bank of India, Khand Bazar Branch, Mumbai |
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1) Date and description of instrument creating the change |
Hypothecation agreement of book debts dated 24th November, 2003 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 3.000 millions |
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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 way of first charge of all the borrowers present and future book dents, outstanding, monies, deposits, receivable, claims and bills contracts, securities, investments , rights and assets. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest at the rate of 14.5 % p.a. with monthly rests or at such other revised rates as may be prescribed by the bank from time to time depending upon the change in the Prime Lending Rate of the Bank or the directives of Reserve Bank of India from time to time or the policy of the Bank on advance from SOD Book debts facility of Rs. 3.000 millions granted by the Bank to the Company. Margin : 50 % |
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5) Name and Address and description of the person entitled to the charge. |
Union Bank of India Khand Bazar Branch 109, Kazi Sayed Street, Khand Bazar Mumbai – 400003 |
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6) Date and brief description of instrument modifying the charge |
Not Available |
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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. |
Not Available |
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. 44.17 |
|
UK
Pound |
1 |
Rs. 86.66 |
|
Euro |
1 |
Rs. 57.25 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
70 |
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 |