MIRA INFORM REPORT
|
Report
Date : |
07.02.2007 |
IDENTIFICATION
DETAILS
|
Name : |
SHEELA FOAMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
C-55,
Preet Vihar, First Floor, Vikas Marg, Delhi – 110 092 |
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|
|
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Country
: |
India |
|
|
|
|
Financials
(as on) : |
31.03.2003 |
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|
|
|
Date
of Incorporation : |
18.06.1971 |
|
|
|
|
Com.
Reg. No.: |
55-5679 |
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|
|
CIN
No.: [Company
Identification No.] |
U74899DL1971PTC005679 |
|
|
|
|
TAN
No.: [Tax
Deduction & Collection Account No.] |
DELS21008B |
|
|
|
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PAN
No.: [Permanent
Account No.] |
AAACS0189B |
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|
|
|
Legal
Form : |
Private
Limited Liability Company |
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|
|
|
Line
of Business : |
Manufacturers
of Flexible Polyurethane Foam products such as Mattress, Foam Pillow Covers,
Bed Cushions and Covers. |
RATING & COMMENTS
|
MIRA’s
Rating : |
Ba |
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered
normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum
Credit Limit : |
USD
2000000 |
|
|
|
|
Status
: |
Good |
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|
|
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Payment
Behaviour : |
Regular |
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|
|
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Litigation
: |
Clear |
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|
Comments
: |
Subject
is a well-established and reputed company having fine track. Directors are reported as experienced,
respectable and resourceful industrialists.
Their trade relations are reported as fair. Financial position of the company is good. Payments are reported as correct and as
per commitments. The company can be considered normal for
business dealings at usual trade terms and conditions. |
LOCATIONS
|
Registered
Office : |
C-55,
Preet Vihar, First Floor, Vikas Marg, Delhi – 110 092, India |
|
Tel.
No.: |
91-11-22467764/22222722 |
|
Fax
No.: |
91-11-22220624 |
|
E-Mail
: |
rahul@sheelafoam.com |
|
Website
: |
http://www.sleepwellflexipuf.com, http://www.sheelafoam.com |
|
|
|
|
Corporate
Office : |
Plot No. 37/2,
Site IV, Sahibabad Industrial Area, District Ghaziabad - 201010, Uttar
Pradesh, India |
|
Tel.
No.: |
91-120-2770045/2770087/2775425/2770539 |
|
Fax
No.: |
91-120-2770366/2775427 |
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E-Mail
: |
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|
Factory
1 : |
·
Sahibabad,
Uttar Pradesh ·
51-A,
Udyog Vihar, Greater Noida, Uttar Pradesh ·
Sarajpur,
Uttar Pradesh ·
Hyderabad,
Andhra Pradesh ·
Plot
No. 37/2, Site IV, Sahibabad Industrial Area, District Ghaziabad - 201010,
Uttar Pradesh Tel. No. 91-120-270045/2770087/2775425 Fax No. 91-120-2770366/2775427 ·
Survey
No. 261/1/2/3, Saily Umar Kui Road, Silvassa – 396230, Union Territory of
Dadra & Nagar Haveli ·
Pondicherry ·
Rampo,
Sikkim ·
A-10,
Sector 8, Noida – 201,301, District Gautam Budh Nagar, Uttar Pradesh ·
Main
Dadri Noida Road, Village Habibpur, District Gautam Budh Nagar, West Bengal ·
Plot
No. 102/1, Madhuban Dam Road, Village Rakholi, Silvassa, Union Territory of
Dadra & Nagar Haveli |
DIRECTORS
|
Name : |
Mr. Rahul
Gautam |
|
Designation
: |
Managing
Director |
|
Address
: |
D – 2,
Diwanshree Apartment, 30, Ferozesaha Road, New Delhi – 110001, India |
|
Date
of Birth/Age : |
18th
November, 1952 |
|
Qualification
: |
B.Tech. M.S. (Chemical Engineering) MS (USA) |
|
Date
of Appointment : |
01st
April, 1996 |
|
Other Directorships |
1.
Core
Moulding(Private) Limited 2.
Feather
foam Enterprises Limited 3.
Soft
Foam Industries Private Limited 4.
Pallavai
Foam Industries Private Limited |
|
|
|
|
Name : |
Mrs.
Sheela Gautam |
|
Designation
: |
Director |
|
Address
: |
D – 2,
Diwanshree Apartment, 30, Ferozesaha Road, New Delhi – 110001, India |
|
Date
of Birth/Age : |
15th
November, 1931 |
|
Date of
Appointment : |
18th
June, 1971 |
|
|
|
|
Name : |
Mr.
Praduman Patel |
|
Designation
: |
Whole
Time Director |
|
Address
: |
C-2,
Greater Kailash Part I, New Delhi – 110 048, India |
|
Date
of Birth/Age : |
30th
August, 1954 |
|
Date
of Appointment : |
01st
April, 1996 |
|
|
|
|
Name : |
Ms.
Namita Gautam |
|
Designation
: |
Director |
|
Address
: |
D – 2,
Diwanshree Apartment, 30, Ferozesaha Road, New Delhi – 110001, India |
|
Date
of Birth/Age : |
17th
January, 1954 |
|
Date
of Appointment : |
01st
June, 2003 |
|
|
|
|
Name : |
Mr.
Ravindra Sharma |
|
Designation
: |
Director |
|
Address
: |
289 – A,
Road No. 12, MLA Colony, Banjara Hills, Hyderabad |
|
Date
of Birth/Age : |
18th
August, 1957 |
|
Date
of Appointment : |
14th
November, 2003 |
|
|
|
|
Name : |
Mr.
Rakesh Chahar |
|
Designation
: |
Whole
Time Director |
|
Address
: |
12 -7,
Nehru Enclave, Kalkaji Extension, New Delhi – 110049, India |
|
Date
of Birth/Age : |
15.12.1964 |
|
Date
of Appointment : |
14.11.2003 |
|
|
|
|
Name : |
Mr. Satish
Sethi |
|
Designation
: |
Director |
|
Address
: |
B – 41,
Cozy Home Apartment, 251, Pali Hill Road, Bandra, Mumbai, Maharashtra |
|
Date
of Birth/Age : |
25.11.1950 |
|
Date
of Appointment : |
14.11.2003 |
|
Date
of Ceasing : |
25.11.2003 |
KEY EXECUTIVES
|
Name : |
Mr. K. P.
Rahul Gautam |
|
Designation
: |
Key
Executive |
|
|
|
|
Name : |
Mr.
Sanjay Goel |
|
Designation
: |
Secretary
|
|
Address
: |
2139,
Block – B, Pocket – 2, Vasant Kunj, New Delhi |
|
Date
of Appointment : |
01.05.2003 |
|
Date
of Ceasing : |
01.10.2003 |
|
|
|
|
Name : |
Mr.
Rajneesh Kumar Tripathi |
|
Designation
: |
Secretary
|
|
Address
: |
2, 1st
Floor, West Mukherjee Nagar, Delhi – 110009 |
|
Date
of Appointment : |
01.10.2003 |
|
Date of
Ceasing : |
01.01.2004 |
|
|
|
|
Name : |
Mr. Ravi
Gupta |
|
Designation
: |
Secretary |
|
Address
: |
C – 5/91,
Yamuna Vihar, Delhi – 110053 |
|
Date
of Birth : |
08.04.1978 |
|
Date
of Appointment : |
06.01.2004 |
MAJOR SHAREHOLDERS
|
Names of Shareholders |
No. of Shares |
|
Mrs.
Sheela Gautam |
5853960 |
|
Mr. Rahul
Gautam |
3293160 |
|
Ms.
Namita Gautam |
1893240 |
|
Mr.
Tushaar Gautam |
662640 |
|
Mr.
Praduman Patel |
1908360 |
|
Mr.
Kartik Patel |
1426080 |
|
Mr.
Himanshu Patel |
1463520 |
|
Ms.
Urmila Patel |
1052400 |
|
Ms. Chaya
Mukherjee |
120 |
|
Ms.
Kalpna Shrish Amin |
240 |
|
Mr. Anil
Tandon |
120 |
|
Mr. Siya
Ram Sharma |
240 |
|
Mr. K. K.
Gautam |
240 |
|
Ms.
Sunita Sharma |
240 |
|
Polyflex
Marketing Private Limited |
4488000 |
|
Serta India
Private Limited |
1620000 |
|
Starlite
India Private Limited |
330000 |
|
Ms.
Alpana Verma & Mr. Aseem Verma |
120 |
|
Ms. Shama
Kapoor & Mr. Sunit Kapoor |
240 |
|
Mr. J. K.
Sharma |
120 |
|
Mr.
Arvind Kumar |
240 |
|
Ms. Padma
& Mr. Prateek Gautam |
480 |
|
Rajesh
Neena & Arpita Sharma |
240 |
|
Mr. Asha
Kapoor |
120 |
|
Mr. Kusum
Gautam |
120 |
|
Ms. Sneh
Lata Jain & Sarika Jain |
120 |
|
Ms.
Shobha Jagdish Amin |
240 |
|
Janubi
Devendra & Rajul Devendra |
240 |
|
Uma
Gautam & Vidyawati Gautam |
240 |
|
Kanak Lata
Sharma & Tushant Sharma |
120 |
|
Ravi
Dhariwal & Rashmi Dhariwal |
360 |
|
Lok Chand
Kapoor & Ravi Kapoor |
240 |
|
Ashish
Sharma & J. K. Sharma |
240 |
|
Mr.
Rakesh Chahar |
120 |
|
Mr.
Ravindra Sharma |
120 |
|
Mr.
Amitabh Devendra |
120 |
|
Ms. Versha
H. Patel |
1200 |
|
Ms.
Meenakshi Patel |
1200 |
|
Ms. Renu
Patel |
1200 |
|
TOTAL |
24000000 |
BUSINESS DETAILS
|
Line
of Business : |
Manufacturers
of Flexible Polyurethane Foam products such as Mattress, Foam Pillow Covers,
Bed Cushions and Covers. |
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Products
: |
·
PU
Foam Mattress ·
Sleep
Products ·
Sleepwell
Flexi-Puf, the brand leader in comfort products, is exclusively made of
Flexible PU Foam manufactured by Company. ·
Sleepwell
Flexi-Puf range includes products that are of special value to hospital and
nursing homes. |
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Exports
to : |
Australia,
Greece, Germany and Canada |
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Imports
from : |
France, Singapore, Germany, U.K. and Japan |
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Terms
: |
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Selling : |
Cash, Contract, Others, L/C or Credit (30/60 days) |
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Purchasing : |
Cash, Contract, L/C or Credit (30 days) |
PRODUCTION STATUS
|
Particulars |
Unit |
|
|
Licensed Capacity |
|
Polyurethane
Foam and allied production |
Mt. |
|
|
15000 Mt/p. a. |
|
Polyurethane
Foam and Coir Sandwitch mattresses |
Pcs. |
|
|
150000 Pcs./p.a. |
GENERAL INFORMATION
|
Suppliers
: |
v
Rhone
Poulenc, France v
Manali
Petrochemicals Limited, Chennai, Tamil Nadu, India v
UB Petroproducts
Limited, Chennai, Tamil Nadu, India v
TPI
Polyol Company Limited, Thailand v
Dow
Services Singapore Pte Limited, Singapore v
Marubeni
Corporation, Japan v
Bayer
Polyurethane's Asia Pte. Limited, 152, Beach Road, # 37-00, The Gateway East,
Singapore – 189721 (TDI and Polyol Supplier) v
Dow
Chemicals Pacific (Singapore) Pte. Limited, 260, Orchard Road, # 18-01, The
Heeren, Singapore – 238855 (TDI and Polyol Supplier) |
|
|
|
|
Customers
: |
Wholesalers,
manufacturers, retailers and government bodies. Some of
its’ major customers are :- v
Foam
Trading Company, Meerut, Rajasthan, India v
Kalpa
Sales, Kanpur, Madhya Pradesh, India v
G.
Dayaram & Company, Mumbai, Maharashtra, India v
Uttar
Pradesh State Road Transport Corporation, Kanpur, Madhya Pradesh and Jhansi,
Uttar Pradesh, India v
Maharashtra
State Road Transport Corporation, Aurangabad, Pune and Nagpur all in Maharashtra, India v
Shree
Ram Industries, Wazirpur, Delhi, India v
Poly
Lamination (Private) Limited, Noida, Uttar Pradesh, India v
Badar
Industries (Private) Limited, Noida, Uttar Pradesh, India v
Capital
Foam Traders, New Delhi, India v
Raj
Stores, New Delhi, India v
A.P.I.
Polymer (India) Limited, New Delhi, India v
Nikhil
Udyog, New Delhi, India v Joyce, Australia |
|
|
|
|
No. of
Employees : |
500 |
|
|
|
|
Bankers
: |
Central
Bank of India, Parliament Street, New Delhi – 110 001 Jammu & Kashmir Bank Limited, New Delhi Standard Chartered Bank Narain Manzil, 23, Barakhamba Road, New Delhi – 110001,
India |
|
|
|
|
Facilities : |
Hypothecation of Plant & Machinery: Rs. 19.400
millions Term Loan: Rs. 2.700 millions Cash Credit: Rs.
39.400 millions |
|
|
|
|
Banking Relations : |
Satisfactory
|
|
|
|
|
Auditors
: |
Gupta and
Gupta Chartered Accountants |
|
Address:
|
4/8, Asaf
Ali Road, New Delhi – 110 002 |
|
Tel.
No.: |
91-11-23279527/23276456 |
|
Fax
No.: |
91-11-23280660 |
|
|
|
|
Associates/Subsidiaries
: |
v
Sleepwell
Enterprises Private Limited v
Feather
Foam Enterprises Private Limited v
Serta
India Private Limited v
Dunlopillo
India Private Limited v
Pallavi
Foam Industries Private Limited v
Sterlite
India Private Limited v
Core
Mouldings Private Limited v
S.F.
Enterprises Private Limited v
Polyflex
Marketing Private Limited Subsidiaries: v Pallavi Foam Industries Private
Limited, Delhi |
CAPITAL STRUCTURE
Authorised
Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
295000 |
Equity
Shares |
Rs. 100/- each |
Rs 29.500 millions |
|
5000 |
Preference
Shares |
Rs. 100/- each |
Rs. 0.500 million |
|
|
Total |
|
Rs.30.000 millions |
Issued,
Subscribed & Paid-up Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
200000 |
Equity
Shares |
Rs. 100/- each |
Rs 20.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
Efforts are continued for latest financials and if
available, it will follow, soon
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2003 |
31.03.2002 |
31.03.2001 |
|
|
SHAREHOLDERS
FUNDS |
|
|
|
|
|
1] Share
Capital |
20.000 |
20.000 |
20.000 |
|
|
2] Share
Application Money |
8.850 |
4.430 |
7.430 |
|
|
3]
Reserves & Surplus |
493.031 |
222.794 |
167.158 |
|
|
4]
(Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
NETWORTH
|
521.881 |
247.224 |
194.588 |
|
|
LOAN
FUNDS |
|
|
|
|
|
1]
Secured Loans |
169.799 |
240.269 |
58.859 |
|
|
2]
Unsecured Loans |
72.227 |
44.228 |
49.281 |
|
TOTAL
BORROWING
|
242.026 |
284.497 |
108.140 |
|
|
DEFERRED
TAX LIABILITIES |
13.135 |
0.000 |
0.000 |
|
|
|
|
|
|
|
TOTAL
|
777.042 |
531.721 |
302.728 |
|
|
|
|
|
|
|
APPLICATION OF FUNDS
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block]
|
491.058 |
369.578 |
110.280 |
|
Capital work-in-progress
|
29.591 |
12.198 |
6.944 |
|
|
|
|
|
|
|
INVESTMENT
|
0.035 |
3.035 |
3.085 |
|
DEFERREX TAX ASSETS
|
|
|
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES
|
|
|
|
|
|
|
Inventories
|
172.282 |
126.426 |
74.624 |
|
|
Sundry Debtors
|
281.850 |
181.111 |
160.169 |
|
|
Cash & Bank Balances
|
19.871 |
24.011 |
9.069 |
|
|
Other Current Assets
|
0.038 |
0.484 |
1.351 |
|
|
Loans & Advances
|
59.316 |
77.604 |
57.822 |
Total Current Assets
|
533.357
|
409.636 |
303.035 |
|
Less : CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Current Liabilities
|
262.758 |
271.189 |
153.229 |
|
|
Provisions
|
14.854 |
0.000 |
16.050 |
Total Current Liabilities
|
277.612
|
271.189 |
169.279 |
|
Net
Current Assets
|
255.745 |
138.447 |
133.756 |
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES
|
0.613 |
8.463 |
48.663 |
|
|
|
|
|
|
|
TOTAL
|
777.042 |
531.721 |
302.728 |
|
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
31.03.2003 |
31.03.2002 |
31.03.2001 |
Sales Turnover [including other income]
|
1709.283 |
1228.310 |
1221.639 |
|
|
|
|
|
Profit/(Loss) Before Tax
|
78.140 |
60.835 |
46.423 |
Provision for Taxation
|
15.880 |
5.200 |
4.500 |
Profit/(Loss) After Tax
|
62.260 |
55.635 |
41.923 |
|
|
|
|
|
Export Value
|
NA |
NA |
57.603 |
|
|
|
|
|
Import Value
|
NA |
NA |
374.180 |
|
|
|
|
|
Total Expenditure
|
1612.181 |
1159.496 |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2003 |
31.03.2002 |
31.03.2001 |
PAT / Total Income
|
(%)
|
3.64 |
4.53 |
3.43 |
|
|
|
|
|
|
Net Profit Margin
(PBT/Sales) |
(%) |
4.57 |
4.95 |
3.80 |
|
|
|
|
|
|
Return on Total Assets
(PBT/Total
Assets} |
(%) |
7.50 |
7.58 |
11.23 |
|
|
|
|
|
|
Return on Investment (ROI)
(PBT/Networth) |
|
0.15 |
0.25 |
0.23 |
|
|
|
|
|
|
Debt Equity Ratio
(Total
Liability/Networth) |
|
1.00 |
2.25 |
1.42 |
|
|
|
|
|
|
Current Ratio
(Current
Asset/Current Liability) |
|
1.92 |
1.41 |
1.79 |
LOCAL AGENCY FURTHER INFORMATION
Business:
The company
has been accredited with ISO 9001:2000 Certification.
Form 8
Particular for creation or modification of charges
|
Corporation identity number or foreign company registrations
number of the company |
U74899DL1971PTC005679 |
|
Name of the company |
SHEELA
FOAMS PRIVATE LIMITED |
|
Address |
C-55,
Preet Vihar, First Floor, Vikas Marg, Delhi – 110 092, India |
|
This Form is for |
Creation of charge |
|
Type of Charges |
Hypothecation |
|
Particular of the charge holder |
Standard Chartered Bank Narain Manzil, 23, Barakhamba Road, New Delhi – 110001,
India E-mail : gkjain1234@rediffmail.com |
|
Nature or description of the instrument creating
charge |
Agreement of hypothecation of machinery |
|
Date of the instrument creating charge |
17.07.2006 |
|
Amount Secure by the charge |
Rs. 110.000 millions |
|
Brief of the principal terms and conditions and extent and
operation of the charge |
Rate of Interest as may be determined by the Bank from
time to time |
|
Description of the property charge whether it is a charge
on |
Plant and machinery |
|
Particulars of the Property charged |
Hypothecation by way of pari passu charge over the whole
of the fixed assets of the borrower situated at co’s premises, factories or
whereverelse situated, including its movable plant and machinery, machinery
spares, tools and accessories and other movables, both present and future
[except assets specifically charge to SCB] |
|
Name
of the company |
SHEELA
FOAM PRIVATE LIMITED |
|
Presented By |
Sheela Foam Private Limited, New Delhi |
|
1) Date and
description of instrument creating the change |
22.11.2005
Copy of recital 22.11.2005
Article of Agreement |
|
2) Amount
secured by the charge/amount owing on the securities of charge |
Rs.
200.000 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 |
1st
charge over net block assets of the company. Present and future [excluding
factory land & building of Sikkim & Greater Noida Unit], and 2nd
charge on Greater Noida unit including equitable mortgage of properties
situated at following locations : - 1. Land
& building at Survey No. 102/1, at village Rakholi, Union Territory of
Dadra & Nagar Haveli & Silvassa [village pachayat No. 213, Rakholi
Gram, Panchayat] 2. Land
& building at Survey No. 261/1/2/3 village Saily, Silvassa Union
Territory of Dadra & Nagar Haveli 3. Land
& Building at 37/2 site – 4, Sahibabad industrial area, Gaziabad, UP 4. Land
& building at Main Dadri Road, Village Habibpur, Suraj Pur, Distrit
Gautam Budh Nagar, UP 5. Land
& building at Survey No. 852, of Medchal village and Mandal, Ranga ready
district Andhra Pradesh 6. Land
& building at R 3 No. 131/1, 131/2, 131/3 and 128/1 at Thiruvandarkoil,
Pondicherry 7. Land
& building at survey no. 257, village syali, UT of Dadra & Nagar
Haveli 8. Land
& building at 51A, Udyog Vihar, Greater Noida, UP 9.
Negative lien on office building at C – 55 Preet Vihar, Vikas Marg, New Delhi 10. Land
& building at survey no. 851, of Medchal village and Mandal, Ranga ready
district Andhra Padesh The above
properties provided to secure the total credit limits of Rs. 585.500 millions FUND
BASED Amount in Rs.
Millions 1. CC
[hyp.] / WCDL Rs.
110.000 3.
OD-Book Debts Rs.
139.000 5.
IBP/IBD
Rs. 1.000 6. Term
loan-Sikkim proj. Rs. 5.500 7. Term
loan-New Rs. 200.000 -----------------------------
Rs. 455.500
------------------------------ NON FUND
BASED Amount in Rs.
Millions 1. Letter
of Credit Rs. 100.000 2. Bank
Guarantee Rs. 10.000
3. LC for
DA/DP]
Rs. 20.000
-----------------------------
Rs. 130.000
----------------------------- Grand
Total
Rs. 585.500
----------------------------- |
|
4) Gist
of the terms and conditions and extent and operation of the charge. |
ROI : BPLR – 3% [minimum 8%] p.a. on monthly rests. Repayment I 5 years in 20 quarterly installments after
moratorium of one year Personal Guarantee of following directors to cover the
fresh term loan exposure :- 1. Sheela Gautam 2. Rahul Gautam 3. Namita Gautam 4. Praduman Patel 5. Ravindra Sharma |
|
5) Name
and Address and description of the person entitled to the charge. |
Central Bank of India Parliament Street, New Delhi |
|
6)
Date and brief description of instrument
modifying the charge |
N.A. |
|
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. |
N.A. |
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.44.12 |
|
UK Pound |
1 |
Rs.87.01 |
|
Euro |
1 |
Rs.57.45 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP
CAPITAL |
1~10 |
7 |
|
OPERATING
SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS
SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT
LINES |
1~10 |
7 |
|
--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 |
NO |
|
--OTHER
MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
62 |
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 |
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 |