MIRA
INFORM REPORT
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Report Date : |
05.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
RAYALA
CORPORATION PRIVATE LIMITED |
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Registered Office : |
144/7,
Old Mahabalipuam Road, Kottiyakkam, Chennai – 600041, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
04.11.1948 |
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Com. Reg. No.: |
18-2216 |
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CIN No.: [Company
Identification No.] |
U34103TN1948PTC00216 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHER06505C |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Subject
is engaged in general engineering, electrical appliances, automotive
components, agriculture, food processing and real estate. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD
20000 |
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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
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Registered Office : |
144/7,
Old Mahabalipuam Road, Kottiyakkam, Chennai – 600041, Tamilnadu, India |
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Tel. No.: |
91-44-24483794/55420708 |
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Fax No.: |
91-44-24483871 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr.
Gopalakrishna Rangarao R. V. |
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Designation : |
Chairman |
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Address : |
The
Palace Bobbilli, Bobbilli, Vijayanagaram – 532558, Andhra Pradesh |
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Date of Birth/Age : |
08.08.1926 |
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Date of Appointment : |
04.11.1948 |
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Name : |
Mr.
Pratap Madipakkam Rajagopal |
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Designation : |
Director
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Address : |
Villa
Enchantress, 31, Ranjit Road, Kottur, Chennai – 600085, Tamilnadu |
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Date of Birth/Age : |
20.07.1923 |
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Date of Appointment : |
14.06.1953 |
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Name : |
Mr.
Ranjit Pratap |
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Designation : |
Managing
Director |
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Address : |
Villa
Enchantress, 31, Ranjit Road, Kottur, Chennai – 600085, Tamilnadu |
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Date of Birth/Age : |
13.01.1953 |
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Date of Appointment : |
26.06.1988 |
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Name : |
Mr.
Mritunjay Singh |
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Designation : |
Director
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Address : |
Sangeetha,
6, Kasturi Estate, Chennai – 600086, Tamilnadu, India |
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Date of Birth/Age : |
24.01.1944 |
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Date of Appointment : |
21.02.1976 |
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Name : |
Mr.
Madipakkam Rangaih |
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Designation : |
Director
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Address : |
14,
Cornwall Cross Road, Longford Garden, Bangalore – 560025, Karnataka, India |
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Date of Appointment : |
16.08.1958 |
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Name : |
Mr.
Sujaykrishna Rangarao R. V. |
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Designation : |
Director
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Address : |
The
Palace Bobbilli, Bobbilli, Vijayanagaram – 532558, Andhra Pradesh |
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Date of Birth/Age : |
19.09.1970 |
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Date of Appointment : |
18.04.1989 |
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Name : |
Mr.
Ramakrishna Ranga Rao R. v. |
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Designation : |
Whole
Time Director |
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Address : |
The
Palace Bobbilli, Bobbilli, Vijayanagaram – 532558, Andhra Pradesh |
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Date of Birth/Age : |
26.05.1972 |
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Date of Appointment : |
22.09.1993 |
MAJOR SHAREHOLDERS
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Names
of Shareholders |
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No. of Shares [Equity / Preference] |
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Mrs.
Rajakumari I. V. Indira Devi |
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170 |
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Mrs.
Indira Rajakrishna |
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440 |
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Madras
Commercial Corporation Private Limited |
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5524 [E] 1300 [P] |
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Mrs.
Narmada Krishnamurthy |
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300 |
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Mr. M.
R. Pratap |
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5166 |
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Mrs.
Pushpammal |
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240 |
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Mr. R.
V. G. K. Ranga Rao |
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3212 170 |
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Mr. M.
R. Rajakrishna |
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940 |
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Mr.
Ranjit Pratap |
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20581 300 |
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Mr. W.
S. Sethunarayana Babu |
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119 |
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Mr.
Ranjit Pratap [Trustee] on behalf of Mrs. Sridevi Pratap Family Trust |
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2669 |
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Mrs.
Saraswathy Nagaraja Rao [alias] Sarayachamani |
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300 |
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Ranjit
Enterprises Rep. by Anjani Ranjit Partner |
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7391 |
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Mr. R.
V. S. Kumara Krishna Rangarao |
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4968 |
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Mr. R.
V. Sujay Krishna Ranga Rao |
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4967 115 |
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Mr. R.
V. Ramakrishna Ranga Rao |
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4967 115 |
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Mrs.
Vijayalakshmi Jayaram |
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915 |
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Mr. J.
Suresh |
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520 |
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Mrs.
R. Mangathayaru |
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356 |
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Mr.
Ashok J. Padmaraj |
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250 |
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Mr. C.
Jaganmohan |
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550 |
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Mr. P.
G. Rangabashyam |
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750 |
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Mr. M.
C. Sathyanarayanan |
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450 |
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Mr.
Ranvir Ranjit |
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1122 |
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Mr.
Rajiv Ranjit |
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1122 |
BUSINESS DETAILS
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Line of Business : |
Subject
is engaged in general engineering, electrical appliances, automotive
components, agriculture, food processing and real estate. |
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Products : |
Cashew
Nuts, Fruits, Vegetables and Mango |
GENERAL
INFORMATION
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Bankers : |
Union Bank of India Chennai Main Branch, 139, Broadway, Chennai 600108 Bharat Overseas Bank Limited Nungambakkam Branch, College Road, Chennai – 600006 Canara Bank 787 Mount Road, Madras – 2 |
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Facilities : |
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Banking Relations : |
Satisfactory
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Auditors : |
M. R.
Gowri Shankar Chartered
Accountants, Kamakott,
3, 80th Street, Ashok Nagar, Chennai – 600083, Tamilnadu, India |
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Tel. No.: |
91-44-24892475 |
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Mobile No.: |
91-9840040750 |
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Fax No.: |
gowrishankar_mr@rediffmail.com |
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E-Mail : |
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Subsidiaries : |
SUSPA
Pneumatics India Limited 144/7,
Old Mahabalipuam Road, Kottiyakkam, Chennai – 600041, Tamilnadu, India Tel.
No. : 91-44-24482513 Fax
No. : 91-44-24926671 E-mail
: suspa2000@satyam.net.in SUSPA
Shriram Components Limited No.
115, Edaiyan Kuppam Village, Thandalam Panchayat, Tiruporur, Chengulpet
District 603110, India |
CAPITAL STRUCTURE
Authorised
Capital :
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No.
of Shares |
Type |
Value |
Amount |
|
8000 |
10% 1st
Preference Shares |
Rs. 100/- each |
Rs. 0.800 million |
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2000 |
10% 2nd
Preference Shares |
Rs. 100/- each |
Rs. 0.200 million |
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90000 |
Equity
Shares |
Rs. 100/- each |
Rs. 9.000 millions |
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TOTAL |
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Rs. 10.000
millions |
Issued,
Subscribed & Paid-up Capital :
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No.
of Shares |
Type |
Value |
Amount |
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3870 |
10% 1st
Preference Shares |
Rs. 100/- each |
Rs. 0.387 million |
|
41264 |
Equity
Shares |
Rs. 100/- each |
Rs. 4.126 millions |
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24855 |
Equity
Shares |
Rs. 50/- each |
Rs. 1.242 millions |
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TOTAL |
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Rs. 5.756
millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
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SOURCES OF FUNDS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
5.756 |
5.756 |
5.756 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
[0.814] |
[10.008] |
[15.667] |
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NETWORTH |
4.942 |
[4.252] |
[9.911] |
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LOAN FUNDS |
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1] Secured Loans |
16.698 |
25.890 |
32.785 |
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2] Unsecured Loans |
15.245 |
0.616 |
0.000 |
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TOTAL BORROWING |
31.943 |
26.506 |
32.785 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
36.885 |
22.254 |
22.874 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
38.624 |
18.375 |
10.229 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
1.031 |
1.031 |
1.031 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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Sundry Debtors |
5.333 |
6.776 |
55.373 |
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Cash & Bank Balances |
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Other Current Assets |
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Loans & Advances |
48.485 |
45.127 |
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Total Current Assets |
53.818 |
51.903 |
55.373 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities & Provisions |
56.588 |
49.055 |
43.759 |
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Total Current Liabilities |
56.588 |
49.055 |
43.759 |
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Net Current Assets |
[2.770] |
2.848 |
11.614 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
36.885 |
22.254 |
22.874 |
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PROFIT
& LOSS ACCOUNT
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PARTICULARS |
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31.03.2005 |
31.03.2004 |
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Sales Turnover [including other income] |
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25.488 |
20.966 |
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Profit |
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9.345 |
5.373 |
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Total
Expenditure |
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16.143 |
15.593 |
KEY
RATIOS
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PARTICULARS |
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31.03.2005 |
31.03.2004 |
31.03.2003 |
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PAT / Total Income |
(%) |
36.66 |
25.62 |
N.A. |
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Net
Profit Margin (PBT/Sales) |
(%) |
36.66 |
25.62 |
N.A. |
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Return
on Total Assets (PBT/Total
Assets} |
(%) |
10.10 |
7.64 |
N.A. |
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Return
on Investment (ROI) (PBT/Networth) |
|
1.89 |
[1.26] |
N.A. |
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Debt
Equity Ratio (Total
Liability/Networth) |
|
17.91 |
[17.77] |
[7.72] |
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Current
Ratio (Current
Asset/Current Liability) |
|
0.95 |
1.05 |
1.26 |
LOCAL AGENCY
FURTHER INFORMATION
FINANCIAL
RESULTS
During
the year under report the company has made a profit of Rs. 9.160 millions
before providing for taxation and after providing for depreciation of Rs. 1.309
millions.
Fixed
Assets
Land,
Building, Plant & Machinery, Furniture, Vehicles, Air Conditioner and
Computers
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Name of the company |
Rayala Corporation Private Limited |
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Presented By |
Mr. Ranjit Pratap, Managing Director |
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1) Date and description of instrument creating the change |
No instrument was created. The company on 28th February 2002 has confirmed deposit of title deeds for creation of equitable mortgage |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 63.500 millions due under term loan V, VI, VII & VIII disbursed with interest cost and other expenses debited to the company’s account from time to time |
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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 |
Equitable mortgage of company’s leasehold rights on 76000 sq. ft. of built-up area equivalent to 89610 sq. ft. of super built-up area in various floors as detailed.
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4) Gist of the terms and conditions and extent and operation of the charge. |
1. Term Loan – V : Rs. 12.600 millions, 30% margin interest @ 1% below BPLR i.e. 9.75% repayable in 84 equal monthly instalments without any moratorium with EMI of Rs. 0.208 million 2. Term Loan – VI : Rs. 12 millions, 30% margin interest @ 1% below BPLR i.e. 9.75% repayable in 84 equal monthly instalments without any moratorium with EMI of Rs. 0.198 million 3. Term Loan – VII : Rs. 29.500 millions, 30% margin interest @ 1% below BPLR i.e. 9.75% repayable in 84 equal monthly instalments without any moratorium with EMI of Rs. 0.486 million 4. Term Loan – VIII : Rs. 9.400 millions, 30% margin interest @ 1% below BPLR i.e. 9.75% repayable in 76 equal monthly instalments without any moratorium with EMI of Rs. 0.166 million |
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5) Name and Address and description of the person entitled to the charge. |
Union Bank of India Chennai Main Branch, 139, Broadway, Chennai 600108 |
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6) Date and brief description of instrument modifying the charge |
18.07.2005 – Sanction Letter No. ADV/RK/1902 sanctioning Rs. 63.500 millions under Term Loans V, VI, VII & VIII |
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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 company has availed additional Term Loan of Rs. 63.500 millions. The term loan carries interest @ 9.75% presently and is repayable as :
The term loan is also secured by extension of Equitable Mortgage of the company’s property prescribed in column No. 3. Thus the total charge on the company’s immovable property stands modified from Rs. 36.100 millions to Rs. 63.500 millions |
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Name of the company |
Rayala Corporation Private Limited |
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Presented By |
Mr. Ranjit Pratap, Managing Director |
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1) Date and description of instrument creating the change |
No instrument was created. The company on 28th February 2002 has confirmed deposit of title deeds for creation of equitable mortgage of the property 1. The company on 09.12.2003 has confirmed the deposit of title deeds for creation of equitable mortgage of the property 2 which is now extended for the present loan |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 209.800 millions due under term loan V, VI, VII, VIII & IX disbursed with interest cost and other expenses debited to the company’s account from time to time |
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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 |
Equitable mortgage of company’s leasehold rights on 76000 sq. ft. of built-up area equivalent to 89610 sq. ft. of super built-up area in various floors as detailed.
Comprised in Tower 1, Rayala Towers, 158 [781-785] Anna Salai, Chennai – 600002, together with 23751 sq. ft. of undivided interest in the land comprised in R.S. No. 22/1, Block 3 2. Equitable mortgage of the company’s property comprised in survey no. 278/1A, 2A, 7A, 8A and 278/1B, 2B, 7B, 8B excluding the portion of the land measuring about 25530 sq. ft. already mortgaged to the Union Bank of India, in respect of the term loan sanctioned to Mr. Ranjit Pratap, at Kottivakkam Village, within the Registration district of Madras south and Registration sub-district of Adyar, situate at 144/7 Old Mahabalipuram Road, Kottivakkam, Chennai – 41 |
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4) Gist of the terms and conditions and extent and operation of the charge. |
1. Term Loan – V : Rs. 12.400 millions, 30% margin interest @ 1% below BPLR i.e. 9.75% repayable in 84 equal monthly instalments without any moratorium with EMI of Rs. 0.208 million 2. Term Loan – VI : Rs. 11.800 millions, 30% margin interest @ 1% below BPLR i.e. 9.75% repayable in 84 equal monthly instalments without any moratorium with EMI of Rs. 0.198 million 3. Term Loan – VII : Rs. 29.100 millions, 30% margin interest @ 1% below BPLR i.e. 9.75% repayable in 84 equal monthly instalments without any moratorium with EMI of Rs. 0.486 million 4. Term Loan – VIII : Rs. 9.300 millions, 30% margin interest @ 1% below BPLR i.e. 9.75% repayable in 73 equal monthly instalments without any moratorium with EMI of Rs. 0.166 million In respect of property in column 3 [2] 5. Term Loan – IX : Rs. 147.200 millions, 46% margin interest @1% below BPLR i.e. 12.25% repayable in 84 equal monthly instalments after an initial moratorium period of 12 months with EMI of Rs. 2.618 millions |
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5) Name and Address and description of the person entitled to the charge. |
Union Bank of India Chennai Main Branch, 139, Broadway, Chennai 600108 |
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6) Date and brief description of instrument modifying the charge |
10.10.2005 – Sanction Letter No. ADV/RK/2102 sanctioning Rs. 209.800 millions under Term Loans V, VI, VII, VIII & IX |
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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 company has availed additional Term Loan of Rs. 209.800 millions. The term loan carries interest @ 9.75% & 12.25% presently and is repayable as :
The term loan is also secured by extension of Equitable Mortgage of the company’s property prescribed in column No. 3. Thus the total charge on the company’s immovable property stands modified from Rs. 63.500 millions to Rs. 209.800 millions |
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Name of the company |
Rayala Corporation Private Limited |
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Presented By |
Rayala Corporation Private Limited and Bharat Overseas Bank
Limited |
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1) Date and description of instrument creating the change |
No instrument. Confirmation letter of deposit of Title Deeds enclosed Corporate guarantee of the company |
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2) Amount secured by the charge/amount owing on the securities of charge |
Term loan Rs. 17.500 millions Loan sanctioned to Mr. Ranvir Ranjit |
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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 |
A. Equitable Mortgage of the below mentioned properties :- All the land and factory building measuring about 45, 575 sq. ft. put up on the land, situated at No. 24, Melakottaiyur Village, Chenglepet Taluk and district namely, i. Land measuring 68 cents in S. No. 100/2, bounded on the North by land in S. No. 100/1 [belonging to Sethulakshmana Reddy], East by land in S. No. 102/1 [belonging to Mr. R. Gopalswamay Naidu], West by Land in S. No. 101A/1 & 101A/3, [belonging to Mr. R. Gopalswamy Naidu], and South by Land in S. No. 102/1 [belonging to Mr. R. Gopalswamy Naidu] ii. Land measuring 62 cents in S. No. 101A/1, bounded on the North by Land in S. No. 99/2A6 & 99/2A11 [belonging to A. Varadhan and Mr. Gopalswamy Naidu], East by land in S. No. 100/2 [belonging to Mr. R. Gopalswamy Naidu], West by Land in S. No. 101A/2 [belonging to Mr. R. Gopalswamy Naidu], and South by Land in S. No. 101A/3 [belonging to Mr. R. Gopalswamy Naidu]. Land measuring 25 cents in S. No. 101A/s bounded on the North by Land in s. No. 99/2A3 [belonging to Mr. V. Varadharajulu, Mr. Ramakrishna Naidu], West by land in S. No. 69 A [belonging to Mr. Deraviam] and South by Kelambakkam – Vandalur Main Road Land measuring 64 cents in S. No. 101A/3, bounded on the North by land in S. No. 101A/1 [belonging to Mr. R. Gopalswamy Naidu], East by Land in S. No. 100/2, & S. No. 102/1, [belonging to Mr. R. Gopalswamy Naidu], west by land in s. no. 101A/2 [belonging to Mr. R. Gopalswamy Naidu], and South by Ketambakkam – Vandalur Main Road & Land in S. No. 107a/6 [belonging to Mr. Radhakrishnan] Land measuring 59 cents in s. no. 102/1, bounded on the North by land in s. no. 100/1 & s. no. 100/2 [belonging to Sethulakshmana Reddy, R. Gopalswamy Naidu], East by land in s. no. 102/3, S. no. 102/2A [belong to Mr. R. Gopalswamy Naidu], and South by Land in S. No. 107A//3 [belonging to Mr. Radhakrishnan] & S. No. 107A/5 [belonging to Mr. R. Gopalswamy Naidu] Land measuring 46 cents in s. no. 102/3, bounded on the North by land in s. no. 100/1 [belonging to Sethulakshman Reddy], east by land in S. No. 102/2B [belonging to Mr. Vijayagopal], West by land in s. No. 102/1 [belonging to Mr. R. Gopalswamy Naidu], and south by land in s. no. 102/2A [belonging to Mr. Srinivasan] Land measuring 18 cents in s. no. 107A/5, bounded on the North by land in s. no. 102/1 [belonging to Mr. R. Gopalswamy Naidu], East by land in s. no. 107A/4 [belonging to Mr. Vijayagopal], West by land in s. no. 107A/6 [belonging to Mr. Radhakrishan & Kelambakkam Vandalur Main Road], and South by land in s. no. 108A/1 [belonging to Saroja Ammal and Mrs. Sundarmbal] In all measuring 3.42 acres and situated within the sub registration district of Guduvancheri and Registration district of Chenglepet B] Corporate Guarantee of the company to secure the Term loan of Rs. 17.500 millions sanctioned to Mr. Ranvir Ranjit |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Terms as per the documents executed. The property is offered as security by the company to secure the Term Loan limit of Rs. 17.500 millions sanctioned to Mr. Ranvir Ranjit |
|
5) Name and Address and description of the person entitled to the charge. |
Bharat Overseas Bank Limited Nungambakkam Branch, College Road, Chennai – 6 |
|
6) Date and brief description of instrument modifying the charge |
Nil |
|
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. |
Nil |
|
Name of the company |
RAYALA CORPORATION PRIVATE LIMITED |
|
Presented By |
RAYALA CORPORATION PRIVATE
LIMITED |
|
1) Date and description of instrument creating the change |
Hypothecation agreement for goods received under usance Letter of Credit 18.04.1986 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 2.900 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 |
400 sub of Electronic Typewriter Components for the manufacture of Electronic Typewriter |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Payable on due date with interest @ 7.5% above the RBI rate with a minimum of 17.5% overdue interest 2% extra or such other rates stipulated by the bank from time to time |
|
5) Name and Address and description of the person entitled to the charge. |
Canara Bank 787 Mount Road, Madras – 2 |
|
Name of the company |
RAYALA CORPORATION PRIVATE LIMITED |
|
Presented By |
RAYALA CORPORATION PRIVATE
LIMITED |
|
1) Date and description of instrument creating the change |
Hypothecation agreement for goods received under usance Letter of Credit 18.04.1986 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 2.900 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 |
400 sub of Electronic Typewriter Components for the manufacture of Electronic Typewriter |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Payable on due date with interest @ 7.5% above the RBI rate with a minimum of 17.5% overdue interest 2% extra or such other rates stipulated by the bank from time to time |
|
5) Name and Address and description of the person entitled to the charge. |
Canara Bank 787 Mount Road, Madras – 2 |
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.44.42 |
|
UK
Pound |
1 |
Rs.86.61 |
|
Euro |
1 |
Rs.58.46 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
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 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
49 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit
history (10%) Market
trend (10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
|
<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|