MIRA
INFORM REPORT
|
Report Date : |
16.02.2007 |
IDENTIFICATION
DETAILS
|
Name : |
MEDHA SERVO DRIVES PRIVATE LIMITED |
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Registered Office : |
P-4/5B,
I.D.A, Nacharam, Hyderabad - 500 076 , Andhra Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
27.01.1984 |
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Com. Reg. No.: |
01-4436 |
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CIN No.: [Company
Identification No.] |
U31103AP1984PTC004436 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
HYDM00473E |
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Legal Form : |
Private limited liability company. |
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Line of Business : |
Manufacturing of wheel flange lubricators, speed / time /
distance recorders and indicators and inverters and static converters in
collaboration with "Powernetics Limited, UK" for railways. |
RATING & COMMENTS
|
MIRAs Rating : |
Ba |
|
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
325000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
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Comments : |
Subject
is a well-established and reputed company having satisfactory track.
Directors are reported as experienced and respectable businessmen. Trade
relations are reported as fair. Business is active. 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 : |
P-4/5B, I.D.A, Nacharam, Hyderabad - 500
076 , Andhra Pradesh, India |
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Tel. No.: |
91-40-2717 1101 / 2791 / 3990 |
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Fax No.: |
91-40-2717 4908 |
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E-Mail : |
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Website : |
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Area : |
Ό acre |
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Location : |
Rented
|
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Factory
1 : |
Survey No. 780/781, Jodimetla
Cross Road, Korremula Village, Ghatkesar Mandal, R. R. District,
Andhra Pradesh - 501 301 |
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E-Mail
: |
Production : production@medhaindia.com |
DIRECTORS
|
Name : |
Mr. Y. Yugandhar Reddy |
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Designation : |
Managing Director |
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Address : |
12-13-312/1,
Street No. 13, Tarnaka, Secunderabad 500017, Andhra Pradesh, India |
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Date of Birth/Age : |
01.07.1953 |
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Date of Appointment : |
07.01.1984 |
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Name : |
Mr. P. Sarachan Babu |
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Designation : |
Director
|
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Address : |
Plot
No. C8, Cresent Road, Behind Society Office, Sainikpuri, Secunderabad
500062, Andhra Pradesh, India |
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Date of Birth/Age : |
25.07.1947 |
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Date of Appointment : |
24.04.1984 |
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Name : |
Mr. Y. Mohan Rao |
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Designation : |
Director |
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Address : |
2-194/4,
Street No. 3, Habsiguda, Hyderabad 500007, Andhra Pradesh, India |
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Date of Birth/Age : |
10.07.1950 |
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Date of Appointment : |
27.11.1991 |
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Name : |
Mr. N. Srinivas Reddy |
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Designation : |
Whole
Time Director |
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Address : |
F 101,
LR Nestle, D. No. 385/12, 1 to 8, Gandhi Nagar, New Bakaram, Hyderabad,
Andhra Pradesh, India |
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Date of Birth/Age : |
10.02.1967 |
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Date of Appointment : |
12.12.1997 |
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Name : |
Mr.
Vinod Kumar Agarwal |
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Designation : |
Director
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Address : |
F-12,
Madhura Nagar, Sanjeeva Reddy Nagar, Hyderabad, Andhra Pradesh, India |
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Date of Birth/Age : |
25.03.1969 |
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Date of Appointment : |
16.05.2002 |
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Name
: |
Mr.
Subodh P Yeotikar |
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Designation
: |
Whole
Time Director |
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Address
: |
F-402,
Akruti Homes, Nagarjuna Nagar, Tarnaka, Secunderabad, Andhra Pradesh,
India |
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Date
of Birth/Age : |
07.04.1963 |
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Date
of Appointment : |
16.05.2002 |
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Name
: |
Mr. G.
Rajesham |
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Designation
: |
Director
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Address
: |
Plot
No. 2, Sy No. 104, Ravindra Nagar, Block No. 7, Kapra, Nacharam, Hyderabad,
Andhra Pradesh, India |
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Date
of Birth/Age : |
02.06.1963 |
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Date
of Appointment : |
06.03.2004 |
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Name
: |
Mr. V
R. H. S. Prasad Sanka |
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Designation
: |
Director
|
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Address
: |
Concorde
Apartments, G-2, 6-3-658, opposite, Civil, Supplier Bhavan, Somajiguda,
Hyderabad |
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Date
of Appointment : |
31.08.2005 |
KEY EXECUTIVE
|
Name
: |
Mr. K.
Chandrasekhar Naidu |
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Designation
: |
Company
Secretary |
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Address
: |
Flat
No. 308, Mahalaxmi Apartments, Mahathma Nagar, old Bowenpally, Secunderabad,
Andhra Pradesh, India |
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Date
of Birth/Age : |
05.10.1978 |
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Date
of Appointment : |
01.09.2005 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
|
No. of Shares |
|
Y. Yugandhar Reddy |
|
61786 |
|
P. Sarachan Babu |
|
107486 |
|
Y. Lakshmi |
|
56908 |
|
P. Sujatha |
|
27208 |
|
Y. Sireesha |
|
98050 |
|
Y. Mohan Rao |
|
38572 |
|
N. Srinivas Reddy HUF |
|
20450 |
|
Y. Kasyap Reddy |
|
22500 |
|
Y. Swetha |
|
17500 |
|
P. V.
Shashidhar |
|
24000 |
|
Y.
Naveen |
|
22090 |
|
N. Shailaja
Reddy |
|
4000 |
|
Subodh
P. Yeotikar |
|
10000 |
|
Vinod
Kumar Agarwal |
|
16000 |
|
M.
Ravi Kumar |
|
6500 |
|
B.
Sanjay Reddy |
|
5000 |
|
N. Srinivas Reddy |
|
34000 |
|
G.
Rajesham |
|
14540 |
|
Viresh
Kumar |
|
650 |
|
K. Ram
Babu |
|
650 |
|
B. O.
Chema Reddy |
|
650 |
|
C. V.
Mahender Reddy |
|
650 |
|
M.
Suresh |
|
650 |
|
K.
Rajesh |
|
650 |
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J. S.
Leela |
|
300 |
|
K.
Pavani |
|
300 |
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B.
Ramachandra Murthy |
|
300 |
|
Hema
Raju |
|
300 |
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P.
Srinivas Rao |
|
300 |
|
M.
Murali Raju |
|
300 |
|
G.
Arun Kumar |
|
650 |
|
G.
Kusuma |
|
650 |
|
K J
Shiva Rama Krishna |
|
650 |
|
M
Shashi Kanti Reddy |
|
650 |
|
L.
Kishan |
|
650 |
|
Ch
Satya Sai Raju |
|
300 |
|
G. R.
Chandra Sekhar |
|
300 |
|
Y Sri
Devi |
|
300 |
|
N Raju
|
|
300 |
|
D
Srinivas |
|
300 |
|
Y
Yugandhar Reddy HUF |
|
2850 |
|
P. S.
Babu HUF |
|
2850 |
|
Y
Mohan Rao HUF |
|
2850 |
|
G Rama
Devi |
|
5460 |
|
Total |
|
611050 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of wheel flange lubricators, speed / time /
distance recorders and indicators and inverters and static converters in
collaboration with "Powernetics Limited, UK" for railways. |
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Products : |
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PRODUCTION
STATUS
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Particulars |
Unit |
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Actual Production |
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STDRS, SI, Inverters, Software, MEP |
Nos. |
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|
530 |
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Parts of above |
Nos. |
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|
82439 |
GENERAL
INFORMATION
|
No. of Employees : |
40 |
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Bankers : |
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Facilities : |
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Banking Relations : |
Satisfactory
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Auditors : |
V. G. Rao and Associates Chartered Accountants |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
650000 |
Equity shares |
Rs. 100/- each |
Rs. 65.000 Millions |
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Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
611050 |
Equity shares |
Rs. 100/- each |
Rs. 61.105 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 |
|
61.105 |
58.530 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
23.168 |
23.101 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
84.273 |
81.631 |
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|
LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
|
36.389 |
30.148 |
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2] Unsecured Loans |
|
0.000 |
0.000 |
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TOTAL BORROWING |
|
36.389 |
30.148 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
|
120.662 |
111.779 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
46.999 |
42.188 |
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INVESTMENT |
|
0.700 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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|
|
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|
Inventories |
|
53.869 |
49.973 |
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Sundry Debtors |
|
18.681 |
15.559 |
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Cash & Bank Balances |
|
1.697 |
6.684 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
8.307 |
7.115 |
|
Total Current Assets |
|
82.554 |
79.331 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
5.964 |
5.113 |
|
|
Provisions |
|
3.627 |
4.627 |
|
Total Current Liabilities |
|
9.591 |
9.740 |
|
|
Net Current Assets |
|
72.963 |
69.591 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
120.662 |
111.779 |
|
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
|
Sales Turnover [including other income] |
|
179.326 |
187.968 |
|
|
|
|
|
|
Profit/(Loss)
Before Tax |
|
3.693 |
24.912 |
|
Provision
for Taxation |
|
0.290 |
4.636 |
|
Profit/(Loss)
After Tax |
|
3.403 |
20.276 |
|
|
|
|
|
|
Total
Expenditure |
|
175.632 |
163.056 |
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
|
1.90 |
10.79 |
|
|
|
|
|
|
|
Net
Profit Margin (PBT/Sales) |
(%) |
|
2.06 |
13.25 |
|
|
|
|
|
|
|
Return
on Total Assets (PBT/Total
Assets} |
(%) |
|
2.85 |
20.50 |
|
|
|
|
|
|
|
Return
on Investment (ROI) (PBT/Networth) |
|
|
0.04 |
0.31 |
|
|
|
|
|
|
|
Debt
Equity Ratio (Total
Liability/Networth) |
|
|
0.55 |
0.49 |
|
|
|
|
|
|
|
Current
Ratio (Current
Asset/Current Liability) |
|
|
8.61 |
8.14 |
LOCAL AGENCY
FURTHER INFORMATION
Subject is a Registered Small Scale Industry.
Result of Operations
During the year under report, the entire economy was normal
including Indian Railways, their Major customer. As a consequence the order
position is normal and they have made a profit of Rs. 3.693 Millions during
this year as against Rs. 24.912 Millions profit of previous year. During this
year, the company has taken up new projects of Railways and incurred huge
R&D expenditure of Rs. 22.080 Millions as against the R&D Expense of
Rs. 6.309 Millions incurred during the previous year. this increase in R &
D expenditure during the year resulted in lower profits of the company.
For this R&D, the company has received R&D recognition for
development of new products and up gradation of existing products, which well
improve the profit in further.
Fixed Assets
- Land
- Building
- Plant and Machinery
- Electrical Equipment and
Installation
- Office Equipment
- Furniture and Fixture
- Vehicles
- R & D Equipment
- Computer
- Foreign Technical Know-How
- Technical Know How
Bankers
Charges Report as per Registry
|
Name of the company |
MEDHA
SERVO DRIVES PRIVATE LIMITED |
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|
Presented By |
Mr. Y. Yugandhar Reddy,
Managing Director |
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|
Amount secured by the charge/amount owing on the securities of charge |
Rs.
2.400 Millions |
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|
Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Equitable
mortgage of land and Building of the
company at Syrvey
No. 780/781 at Kjorremula Village P-4/5B,
IDA, Nacharam P
4/9A, IDA, Nacharam Pledge
of companys fixed assets existing and proposed. |
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|
Gist of the terms and conditions and extent and operation of the charge. |
Interest
@ 13.26 % p.a. with quarterly rests. Repayment in 8 half yearly instalments
from one year form the date of disbursement of the loan with for enhanced
position of term loan of Rs. 27.500 Millions |
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|
Name and Address and description of the person entitled to the charge. |
State
Bank of India Nacharam
I. A. Hyderabad
|
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Date and brief description of instrument modifying the charge |
Supplementary
general agreement dated 25.05.1999 |
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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. |
Limits
enhanced as follows Rs In Millions
|
|
Corporate
identity number of the company |
U31103AP1984PTC004436 |
|
Name
of the company |
MEDHA SERVO DRIVES PRIVATE LIMITED |
|
Address
of the registered office or of the principal place of business in India of the company |
P-4/5B,
I.D.A, Nacharam, Hyderabad - 500 076 , Andhra Pradesh, India |
|
This
form is for |
Modification
of charge |
|
Type
of charge |
Hypothecation
Equitable
mortgage or mortgage of property by deposition the title deeds |
|
Particular
of charge holder |
State
Bank of India Nacharam
I. A. , Hyderabad - 500076, Andhra
Pradesh, India |
|
Date
of instrument Creating the charge |
07.08.1995 |
|
Amount
secured by the charge |
Rs.
7.500 Millions |
|
Brief
of the principal terms an conditions and extent and operation of the charge |
As per
limits of agreements |
|
Description
of the property charged indicating whether it is a charged on |
Immovable
Property Furniture
and Fixture Book
debts Stock
in trade Fixed
deposits |
|
Charge
identification number of the charge to be modified |
17995 |
|
Particulars
of the present modification |
Present
and future land and building and movable and immovable properties of the
company |
As Per Website
From their inception in 1984, they have striven to uphold their
image as an R&D centric organisation, delivering products meeting globally
accepted standards. They are happy that they have been able to fulfill their
obligations to their clientele worldwide and that today Medha is synonymous
with cutting edge technology and a diverse range of products for the Railways
starting from simple Speed Recorders to entire locomotive control systems, for
both diesel and electric locomotives.
To aid us in achieving their goals, they have entered into a technical
collaboration with M/s Powernetics Ltd., U.K., a leading supplier of static
converters and inverters for the last 25 years to the European railways.
Through this collaboration they have been able to manufacture 25 KVA Static
Inverters for use on air-conditioned coaches, and 180 KVA Static Converters for
use on electric locomotives replacing ARNO Converters.
They specialise in designing and engineering products for application on
locomotives, to withstand shock and vibration, wide temperature variations, and
electrical disturbances present in the locomotive environment. Their strength
lies in designing and integrating micro processor based real time control
equipment with IGBT based power controls as well as mechanical equipment.
They have designed and manufactured various world class high-tech electronics
products for application on the locomotives, Coaches and Railway Stations. For
Locomotives they supply different models of Speed Recorders, Energy Monitoring
Systems, Event Recorders, Wheel Flange Lubricators, Wheel Slip Control Systems,
Electronic Governors, 180KVA, 3ph Static Converters and Microprocessor based
Locomotive Controls for both diesel and electric locos. For Air conditioned
Coaches they supply 25KVA, 3ph Inverters and 2.5KVA Inverters. For Railway
Stations they supply Integrated Power Supply Systems. A host of other
technologically advanced products geared to achieve greater reliability and
efficiency in the Railway operations are under various stages of design and
development. They have also developed a few products for Automobile Sector and
Industrial applications.
They also offer their design services to customers in embedded control
applications for end to end product development, which covers the entire
spectrum of activities between product concept and product launch, viz. System
design, Hardware design including PCB Layout design, Firmware development
including high level design and detail design, Mechanical design, validation
& verification services, and even sample production for real time control
equipment, in Railway, Automobile and Industrial sectors.
They are proud of the achievements that have made Medha a successful company
with a sales turnover of Rs. 188 million, powered by a dedicated team that
values quality above everything. They are awarded with ISO 9001-2000
and Q9001 Certificates by M/s American Quality Assessors accredited by
ANSI-RAB.
Product
Railway Equipments
Tachographs & Event Recorders
Locomative Control Equipments
Auxiliary Equipment
Power Conversion Equipment
Automobile Equipments
Tachographs
Speed Limiter
Industrial Equipments 
Plasma Generating Power Supplies
Induction Heating Equipment
Electronic Manufacturing
Services
Their Design Centre located at Hyderabad in India, sprawling over
4 acres of land, well equipped with the facilities required for the Design and
Development of micro-processor based real time control equipment, power
electronics equipment and precision electro-mechanical equipment, consists of
A centrally air conditioned building occupying about
20,000 sft. area.
Software development
tools required for various micro controllers/ micro processors used in the
projects.
Work stations equipped with the latest versions of
CADSTAR software for PCB layout design.
Work stations equipped with latest versions of
AUTOCAD, MECHANICAL DESKTOP and INVENTOR software
for mechanical design.
A Control Electronics Laboratory with sophisticated
test equipments for hardware development and testing.
A Power Electronics Laboratory with sophisticated test
equipments for development and testing.
Custom made Locomotive Simulators and other test
facilities for Product development and testing.
A well furnished library for the latest technical literature.
A network of computers is employed to develop software/ firmware, and to
generate mechanical drawings and designs. Computer Aided Software Engineering
(CASE) tools are used to develop structured software programs with professional
documentation at all levels.
They also offer their design services to customers in embedded control
applications for end to end product development, which covers the entire
spectrum of activities between product concept and product launch, viz. System
design, Hardware design including PCB Layout design, Firmware development including
high level design and detail design, Mechanical design, validation &
verification services, and even sample production for real time control
equipment, in Railway, Automobile and Industrial sectors.
Strictly adhering to ISO 9001-2000 Quality Systems and
procedures, the Design Centre generates various drawings for each part,
outlining details for the raw materials and bought-out components, acceptance
criteria for various parts and sub-assemblies, testing and tuning procedures,
acceptance and qualification test procedures for the final assembly, designs
& drawings for custom made Tools, Jigs, Fixtures & Test Jigs, and the
preparation of user manuals / maintenance manuals. Design reviews are conducted
at various stages of the development process by their team of expert engineers.
Each product design is examined in the stages of conceptual design, detailed
design, development, testing, design validation, qualification testing and
field trials, and the appropriate documentation is generated at each stage.
Soft Ware
At MEDHA they have expertise in Real Time Embedded
Control and Safety critical Software Solutions for Railway, Automobile and
Industrial sectors. Being a product-oriented unit, the software developed is of
the highest quality satisfying all the application norms needed for the
software. The unique approach of the software development methodology to
generate the best process for the software product continues to deliver quality
software, in optimum possible time to their customers. A sound knowledge
management system helps improve the processes based on experience of the
engineers. The Quality Model emphasizes on defect prevention rather than defect
correction to ensure defect free solutions. The quality program is aligned to
the business goals of the organization.
Software development is made more predictable and
reliable by re-use of metrics data collected for projects executed earlier.
They have a set of software tools developed in house to automate the software
testing and development methodology. Every project has a quality consultant
attached who mentors the developers on implementing the right processes to
reduce defects. The quality consultant conducts Regular internal audits to
ensure compliance to the predefined quality norms, and identifies, evaluates
and inducts new tools and technologies to increase productivity, effectiveness
and improved efficiency. The process being followed is the best for the project
and also regularly improved through a process improvement mechanism.
Services offered (On site and Off site Project management)
New Product Development:
Requirements Engineering
Feasibility study
Simulation, Modeling using MATLAB
HLD and LLD using Structured or UML methodologies
Coding
Test Planning and execution
» Unit testing, Integration testing, System Testing
Configuration Management
Rapid prototyping 
Independent
verification and validation:
Static analysis
Test plan Design
Test automation and scripting
Compliance Testing
Regression Testing
Product Reengineering:
Up gradation to new Technologies
Performance and Reliability enhancement
New hardware Porting
Product Maintenance
Language Translation
» Assembly to Higher-level language
Code Reverse Engineering for Design Validation
Special Study and Analysis (FMEA etc)
Domain Expertise
Embedded Software for Railway Equipment
Micro processor based Locomotive Control System for Diesel Electric
Locomotives
Micro Processor Based Control and Fault Diagnostic System for Electric
Locomotives
Electronic Governors for Diesel Locomotives
Wheel Slip Control System for Electric Locomotives
Wheel Flange Lubricators for both Diesel and Electric Locomotives
Speed, Time and Distance Recorders for both diesel and electric
locomotives
Event Recorders for Locomotives
25 KVA Static Invertors for Air conditioned coaches
180 KVA Static Converters for Electric Locomotives
Integrated Power Supply system for Railway Stations
Automotive Embedded Software
Speed Recorder for Automobiles
Speed Limiter for Automobiles
Body computers and Chassis
Restraint control Module
Transmission and engine control
Instrumentation panel Control
Adaptive Cruise Control
Steering control
Light Control
Industrial Automation and Process control
Multipoint Scanners
Multi parameter Data acquisition System
Factory automation
Annunciation systems
Technical expertise
Embedded and Real-time Applications
|
Microprocessors |
Zilog 80, Intel 8085, Intel 8086, Rabbit |
|
Microcontrollers |
Intel 8751 series and 87C196 series, Motorola
68XX, 68K, PPCTI, ARM, Microchip-PIC, NEC |
|
DSP |
TI, Analog, PIC |
|
Languages |
C, C++, ADA, MGM, Assembly, VC ++, VB |
|
Communication Protocols |
CAN, KW2000, LIN, CLASS 2 |
|
Operating Systems |
Vxworks, Linux, QNx, PSOS, OSEK, Proprietary
Project specific |
Quality procedures
|
Estimation |
COCOMO, Wide band Delphi |
|
Planning |
Software Project Plan |
|
Tracking |
Daily meeting, MPP |
|
Reporting |
Weekly reports, Event reports |
|
Configuration Management |
Continuous, VSS |
|
Change Control |
Software Change Record |
|
Reviews |
Internal Technical Review within the Team,
External peer Review |
|
Documentation |
Templates, Standards |
|
Testing |
Independent Verification and validation |
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 Intl 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
companys 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.44.25 |
|
UK
Pound |
1 |
Rs.86.41 |
|
Euro |
1 |
Rs.58.10 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
48 |
This score serves as a reference to assess SCs 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 |
|