MIRA
INFORM REPORT
|
Report Date : |
21st
January, 2007 |
IDENTIFICATION
DETAILS
|
Name : |
COMPAGE
COMPUTERS PRIVATE LIMITED |
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|
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Registered Office : |
1-2-17/23, Shop No. 101, Karan Centre, SD Road, Secunderabad – 500 003, 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 : |
22.10.1997 |
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Com. Reg. No.: |
01-28217 |
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CIN No.: [Company
Identification No.] |
U72200AP1997PTC028217 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
HYDC00650G |
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|
Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Trading of Computer Hardware and Consumables. To impart training, conduct seminars, workshops, short term and long
term courses on computers, computers maintenance, software development,
software exports and to depute personnel to develop and design software in
India and abroad and to start Technology Parks in India and abroad and to
promote Schools, Colleges, institutions Consultancy Services, advice in India
and abroad about manufacturing, technical, managerial and marketing services
in computer education, software, electronics and other allied fields. |
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
30000 |
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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 dealers for computer hardware. Trade relations are
fair. Financial position is good. Payments are correct and as per
commitments. The
company can be considered good for any normal business dealings at usual
trade terms and conditions. |
LOCATIONS
|
Registered Office : |
1-2-17/23, Shop No. 101, Karan Centre, SD Road, Secunderabad – 500 003, Andhra Pradesh |
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Tel. No.: |
91-40-27811950/27811938 |
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Email : |
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Corporate
Office : |
101,
Karan Trade Center, S. D. Road, Secunderabad, Andhra Pradesh |
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Tel.
No.: |
91-40-27811938/27811950/27811953/55312222/27811938 |
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Mobile No.: |
91-9848027097 |
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Fax
No.: |
91-40-27816486 |
DIRECTORS
|
Name : |
Mr.
Mahender Gunuganti |
|
Designation : |
Managing
Director |
|
Address : |
16-11-740/7/E,
Gaddiannnaram, Sukhnagar, Hyderabad, Andhra Pradesh, India |
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Date of Birth/Age : |
15.10.1961 |
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Date of Appointment : |
27.10.1997 |
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|
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Name : |
Mr.
Mohan Raj Chalasani |
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Designation : |
Director
|
|
Address : |
89/2,
RT Sanjeeva Reddy Nagar, Hyderabad, Andhra Pradesh |
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Date of Birth/Age : |
02.01.1963 |
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Date of Appointment : |
22.10.1997 |
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|
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|
Name : |
Ms. G
Shailaja Rani |
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Designation : |
Director
|
|
Address : |
16-11-740/7/E,
Gaddiannnaram, Sukhnagar, Hyderabad, Andhra Pradesh |
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Date of Birth/Age : |
10.10.1965 |
|
Date of Appointment : |
28.10.2002 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
No. of Shares |
|
Mr.
Mahender Gunuganti |
5218 |
|
Mr. K.
HaraGopal |
1200 |
|
Mr. G.
Giridhar |
581 |
|
Mr.
Ch. Raj Mohan |
925 |
|
Ms.
P. Shailaja Rani |
1332 |
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Mr. K.
Vanishree |
750 |
|
Mr.
Surya Devara Rajya Lakshmi |
1625 |
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Ms. G. Sanjeeva Rao |
1369 |
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Mr. G.
Sudershan Ro |
400 |
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Ms. G.
Susheela Devi |
400 |
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Ms. R.
Arundhati Devi |
200 |
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Mr. P.
Srinivasa Rao |
400 |
|
Ms. P.
Anasuya Devi |
300 |
|
Mr. P.
Sampath Rao |
300 |
BUSINESS DETAILS
|
Line of Business : |
Trading of Computer Hardware and Consumables. To impart training, conduct seminars, workshops, short term and long
term courses on computers, computers maintenance, software development,
software exports and to depute personnel to develop and design software in
India and abroad and to start Technology Parks in India and abroad and to promote
Schools, Colleges, institutions Consultancy Services, advice in India and
abroad about manufacturing, technical, managerial and marketing services in
computer education, software, electronics and other allied fields. |
|
|
|
|
Brand Names : |
Hewlett
Packard, Redington, Intel, Samtron, Microsoft and Wipro Consumables. |
GENERAL
INFORMATION
|
No. of Employees : |
50 |
|
|
|
|
Bankers : |
v
UTI
Bank Limited, Secunderabad Branch, R P Road, Secunderabad v
Tamil
Nadu Mercantile Bank v
Indian
Bank |
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|
|
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Banking Relations : |
Satisfactory
|
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|
|
|
Auditors : |
GPHK
& Associates Chartered
Accountants |
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Address: |
3-5-170/A/A/5
II Floor, YMCA Narayanaguda, Hyderabad - 500029, Andhra Pradesh |
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Tel. No.: |
91-40-23260271/23226061 |
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Fax No.: |
91-40-23260211 |
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E-Mail : |
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CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
15000 |
Equity Shares |
Rs. 100/- each |
Rs. 1.500 millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
15000 |
Equity Shares |
Rs. 100/- each |
Rs. 1.500 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1.500 |
1.500 |
1.500 |
|
|
2] Reserves & Surplus |
6.172 |
4.023 |
2.795 |
|
|
NETWORTH |
7.672 |
5.523 |
4.295 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.034 |
0.170 |
|
|
2] Unsecured Loans |
1.120 |
0.920 |
0.920 |
|
|
TOTAL BORROWING |
1.120 |
0.954 |
1.090 |
|
|
DEFERRED TAX LIABILITIES |
0.423 |
0.360 |
0.246 |
|
|
|
|
|
|
|
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TOTAL |
9.215 |
6.837 |
5.631 |
|
|
|
|
|
|
|
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APPLICATION OF FUNDS |
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|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
4.438 |
4.681 |
4.564 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
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|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
10.723
|
6.827 |
6.214 |
|
|
Sundry Debtors |
31.807
|
26.373 |
18.997 |
|
|
Cash & Bank Balances |
4.895
|
4.034 |
1.374 |
|
|
Other Current Assets |
0.551
|
0.486 |
0.111 |
|
|
Loans & Advances |
1.122
|
1.244 |
1.463 |
|
Total Current Assets |
49.098
|
38.964 |
28.159 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
43.039
|
36.135 |
26.710 |
|
|
Provisions |
1.290
|
0.684 |
0.396 |
|
Total Current Liabilities |
44.329
|
36.819 |
27.106 |
|
|
Net Current Assets |
4.769
|
2.145 |
1.053 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.008 |
0.011 |
0.014 |
|
|
|
|
|
|
|
|
TOTAL |
9.215 |
6.837 |
5.631 |
|
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
|
Sales Turnover [including other income] |
572.701 |
451.975 |
349.265 |
|
|
|
|
|
|
Profit/(Loss)
Before Tax |
3.503 |
2.008 |
1.127 |
|
Provision
for Taxation |
1.354 |
0.797 |
0.457 |
|
Profit/(Loss)
After Tax |
2.149 |
1.211 |
0.670 |
|
|
|
|
|
|
Total
Expenditure |
569.197 |
449.966 |
352.334 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
31.03.2003 |
|
PAT / Total Income |
(%) |
0.37
|
0.26 |
0.19 |
|
|
|
|
|
|
|
Net
Profit Margin (PBT/Sales) |
(%) |
0.61
|
0.44 |
0.32 |
|
|
|
|
|
|
|
Return
on Total Assets (PBT/Total
Assets} |
(%) |
6.54
|
4.60 |
3.44 |
|
|
|
|
|
|
|
Return
on Investment (ROI) (PBT/Networth) |
|
0.45
|
0.36 |
0.26 |
|
|
|
|
|
|
|
Debt
Equity Ratio (Total
Liability/Networth) |
|
5.92
|
6.83 |
6.56 |
|
|
|
|
|
|
|
Current
Ratio (Current
Asset/Current Liability) |
|
1.10
|
1.05 |
1.03 |
LOCAL AGENCY
FURTHER INFORMATION
Operations
The
company had achieved sales and income from operation to the extent of Rs.
568.800 millions despite of recession of recession in the industry. The company
is trying hard to improve sales during the current financial year.
Fixed
Assets
v
Air
Conditioners
v
Computer
v
Accounting
Software
v
Furniture
& Fixture
v
Vehicles
v
Office
Equipment
v
Interior
Decoration
v
Building
|
Name of the company |
COMPAGE
COMPUTERS PRIVATE LIMITED |
|
Presented By |
UTI
Bank Limited, Secunderabad Branch, R P Road, Secunderabad |
|
1) Date and description of instrument creating the change |
Power trade facility agreement dated 23.07.2005 Hypothecation of current assets and movable dated 23.07.2005 Sanction letter |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 5.000 millions Cash Credit Rs. 1.250 Millions CC – Additional |
|
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 |
Primary Security Hypothecation of Stock and book debts of concern |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest 2% below PLR presently at 10% with monthly rests Margin – Stock and receivable 25% (receivable upto 60 days will eligiable for drawing power ) |
|
5) Name and Address and description of the person entitled to the charge. |
UTI Bank Limited, Secunderabad Branch, R P Road, Secunderabad, Andhra Pradesh, India |
|
6) Date and brief description of instrument modifying the charge |
Not Applicable |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Not Applicable |
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|
|
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Name of the company |
COMPAGE
COMPUTERS PRIVATE LIMITED |
|
Presented By |
UTI
Bank Limited, Secunderabad Branch, R P Road, Secunderabad |
|
1) Date and description of instrument creating the change |
Power trade facility agreement dated 23.07.2005 Hypothecation of current assets and movable dated 23.07.2005 Sanction letter |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 5.000 millions Cash Credit Rs. 1.250 Millions CC – Additional |
|
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 |
Primary Security Hypothecation of Stock and book debts of concern |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest 2% below PLR presently at 10% with monthly rests Margin – Stock and receivable 25% (receivable upto 60 days will eligiable for drawing power ) |
|
5) Name and Address and description of the person entitled to the charge. |
UTI Bank Limited, Secunderabad Branch, R P Road, Secunderabad, Andhra Pradesh, India |
|
6) Date and brief description of instrument modifying the charge |
Declartion cum confirmation deed to be obtained when the mortgage of immovable property is borrower party or Guarantors and to be used when it is an individual limited company Recitial No. 212 of UTO Bank Limited, Secunderabad Branch dated 5.08.2005 |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
The is on change in the present sanctioned limit of Rs. 6.250. additional collateral security was provided to cover the loan amount of Rs. 6.250. The details of additional securities Equitable mortgage of commercial property bearing Shop No. 115,m Ground Floor, Karan Center Complex, MCH No. 1-2-15 to 23 & 1-2-25 to 27, S D Road, Secunderabad Equitable mortgage of commercial property bearing Shop No. 2, Ground Floor, Revathi Apartment, opposite to Annapuram Block, Aditya Enclave, Gayatri Nagar, Ameerpet, Hyderabad |
|
|
|
|
Name of the company |
COMPAGE
COMPUTERS PRIVATE LIMITED |
|
Presented By |
Jointly by the borrower and the Banker
|
|
1) Date and description of instrument creating the change |
1. Power Trade facility agreement dated 23.07.2005 2. Hypothecation of Current Assets and Movables (Composite) dated 23.07.2005 3. Sanction Letter |
|
2) Amount secured by the charge/amount owing on the securities of charge |
1. Cash Credit ()Hypothecation) : Rs. 5.000 millions 2. CC-Additiional : Rs. 1.250 millions Total Rs. 6.250 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 |
Primary Security : Hypothecation of Stocks and Book Debts of the Concern |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest: 2% below PLR presently 10% p.a. with monthly rests. Margin: Stocks and Receivables 25% (Receivable upto 60 days will be eligible for drawing power) |
|
5) Name and Address and description of the person entitled to the charge. |
UTI Bank Limited, Secunderabad Branch, R P Road, Secunderabad, Andhra Pradesh, India |
|
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 |
|
|
|
|
Name of the company |
COMPAGE
COMPUTERS PRIVATE LIMITED |
|
Presented By |
Jointly by the borrower and the Banker
|
|
1) Date and description of instrument creating the change |
1. Power Trade facility agreement dated 23.07.2005 2. Hypothecation of Current Assets and Movables (Composite) dated 23.07.2005 3. Sanction Letter |
|
2) Amount secured by the charge/amount owing on the securities of charge |
1. Cash Credit ()Hypothecation) : Rs. 5.000 millions 2. CC-Additiional : Rs. 1.250 millions Total Rs. 6.250 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 |
Primary Security : Hypothecation of Stocks and Book Debts of the Concern |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest: 2% below PLR presently 10% p.a. with monthly rests. Margin: Stocks and Receivables 25% (Receivable upto 60 days will be eligible for drawing power) |
|
5) Name and Address and description of the person entitled to the charge. |
UTI Bank Limited, Secunderabad Branch, R P Road, Secunderabad, Andhra Pradesh, India |
|
6) Date and brief description of instrument modifying the charge |
1. Declaration cum confirmation deed to be obtainbed when the mortgageor/s of immovable property/ ies is / are borrower / third party or guarantor/s and to be used when it is an individual/limited company/ partnership firm/ sole proprietorship concern and or other association dated 05.08.2005 2. Recital No. 212 of UTI Bank Limited, Secunderabad branch dated 05.08.2005 |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
There is no change in present sanctioned limit of Rs. 6.250 millions. Additional Collateral security was provided to cover the loan amount of Rs. 5.000 millions out of the total loan amount of Rs. 6.250 millions. The details of additional securities offered are as follows. A] Equitable mortgage of commercial property beaing Shop No. 115, Ground Floor, Karan Center Complex, MCH NO. 1-2-15 to 23 and 1-2-25 to 27, S D Road, Secunderabad admeasuring 1380 sq. ft. standing in the name of the company. B] Equitable mortgage of commercial property beaing Shop No. 2, Ground Floor, Revathi Apartments, Opp to Annapurna Block, Aditya Enclave, Gayatri Nagar, Ameerpet, Hyderabad, admeasuring 370 sq. ft. standing in the name of the company. |
Product
Printers
:-
Colour
Laser Printers, Barcode Printers, Bubble Jet Printers, Dot Matrix Printer,
Sublimation Printers, Ink Jet Printers, Label Printers, Laser Printers, Line
Printers, Plotters, Multipurpose, Solid Ink Printers, Switches and Boxes and
Thermal Printers
Printer
Accessories :-
Black
Ink Cartridges, Black Toner Cartridges, Blank Ink Tanks, Colour Ink, Ink Tanks,
Colour Toner Cartridges, Developer Units, Drum Units, Envelope Cartridges,
Fuser Units, Maintenance Items and Kits, Memory, Paper Cassettes, Printer
Stands, Ribbons, Sheet Feeders and Tractor Feeds.
Networking
:-
ATM
Adapters, ATM Switches, Baluns, Cable Test Equipment, CSUs, DSL/DSUs, Ethernet
Adapters, Ethernet Repeaters, Ethernet Switches, Fast Ethernet, FDDI Adapters,
Firewalls, Firewire, FRADs, Gateways, Gigabit Ethernet, Ethernet Hubs, Gigabit
Repeaters, Internal Hubs, ISDN Adapters, ISDN Switches, Localtalk Adapters,
Media Converters, Media Filters, Network-Media Equipment, Non-Stackable Hubs,
Pocket LAN Adapters, Port Repliator, Routing Switches, Satellite Product,
Serial I/O Adapters, Stackable Hubs, Bundles, Token Ring Adapters, Token Ring
Hubs, Token Ring Repeaters, Switches, Transceivers, USB Hubs Repeaters, Videoconferencing
Adaptors Products, Voltage Converters, VPN Devices, WAN Adapters, Wireless
Adaptors Hubs, Non-Stackable and Wireless Routers.
Components
:-
Computer
Cases, CPU-Mounting Kits, Desktop Cases, Drive Cases, Fans and Boards,
Motherboards, Processors and Rack Mount Cases.
Computers
:-
Apple
Macintosh, Desktops, Laptops, Mainframes, Multi-Processor Servers, Palmtops,
PDA Carrying Cases, PDAs, Rack-Mountable Computers, Servers.
Stationery
:-
A Size,
Address Labels, B Size, Visiting Cards, Camera Printer Paper, CD Matrix
Printer, DVD Labels, Floppy Labels, Ledger Size, Letter Size and Transparency.
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 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.44.21 |
|
UK
Pound |
1 |
Rs.87.48 |
|
Euro |
1 |
Rs.57.23 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit
history (10%) Market
trend (10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
|
<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |