MIRA
INFORM REPORT
|
Report Date : |
27.01.2007 |
IDENTIFICATION
DETAILS
|
Name : |
MKG
COMPUTERS PRIVATE LIMITED |
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Formerly Known As : |
MKG
INFOSYS PRIVATE LIMITED |
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Registered Office : |
F – 1,
Block No. 35, Sanjay Place, Agra – 282005, Uttar Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
18-12-1998 |
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Com. Reg. No.: |
20-24076 |
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CIN No.: [Company
Identification No.] |
U65921UP1998PTC024076 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AGRM10564B |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Dealers
of Computer Peripherals. |
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 |
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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 and reputed company having satisfactory track. Directors are reported as experienced and respectable
businessmen. Trade relations are
reported as fair. 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/ Corporate Office : |
F – 1,
Block No. 35, Surya Kiran Building, Sanjay Place, Agra – 282005, Uttar
Pradesh |
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Tel. No.: |
91-562-2853909 |
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Mobile No.: |
91-9319129779/ 9837038795 |
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Fax No.: |
91-562-2525490 |
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E-Mail : |
pkmangal.ca@gmail.com |
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Website : |
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Sales
Offices : |
39-G/102, Sky Tower, Sanjay Place, Agra – 282002, Uttar Pradesh, India Tel.: 91-562-2524466 Fax: 91-562-2525490 Mobile: 91-9319200888 E-mail: mkginfo@sancharnet.in Website: http://www.mkgindia.com
Tel.: 91-120-3029241 Tele Fax: 91-120-3029241 Mobile: 91 9312696885 E-mail: gzb@mkgindia.org Website: http://www.mkgindia.com
Tel.: 91-565-3092032 Tele Fax: 91-565-3092032 Mobile: 91-9312696885 E-mail: mkginfo@sancharnet.in Website: http://www.mkgindia.com
Tel.: 91-571-3205080 Tele Fax: 91-571-3205080 Mobile: 91-9319065374 E-mail: mkginfo@sancharnet.in Website: http://www.mkgindia.com |
DIRECTORS
|
Name : |
Mr. Mahendra
KR Garg |
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Designation : |
Director
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Address : |
95,
Kaveri Kunj, Kamla Nagar, Agra – 282005, Uttar Pradesh, India |
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Date of Birth/Age : |
10.07.1950 |
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Date of Appointment : |
18.12.1998 |
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Name : |
Mr.
Umesh Garg |
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Designation : |
Director
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Address : |
95,
Kaveri Kunj, Kamla Nagar, Agra – 282005, Uttar Pradesh, India |
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Date of Birth/Age : |
05.04.1975 |
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Date of Appointment : |
18.12.1998 |
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Name : |
Mr.
Vikas Garg |
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Designation : |
Director
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Address : |
95, Kaveri
Kunj, Kamla Nagar, Agra – 282005, Uttar Pradesh, India |
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Date of Birth/Age : |
07.01.1977 |
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Date of Appointment : |
01.05.2001 |
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Name : |
Mr.
Naveen Garg |
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Designation : |
Director
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Address : |
95, Kaveri
Kunj, Kamla Nagar, Agra – 282005, Uttar Pradesh, India |
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Date of Birth/Age : |
01.09.1978 |
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Date of Appointment : |
01.05.2001 |
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Name : |
Mr.
Eugenf Freese |
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Designation : |
Director
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Address : |
108, Defence
Estate, Phase – II, Deori Road, Agra – 282005, Uttar Pradesh, India |
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Date of Appointment : |
01.05.2001 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
|
No. of Shares |
|
Mr.
Mahendra KR. Garg |
|
1000 |
|
Mr. Umesh
Garg |
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1000 |
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Mr.
Naveen Garg |
|
6500 |
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Mr.
Vikas Garg |
|
10000 |
|
Ms.
Usha Garg |
|
10000 |
BUSINESS DETAILS
|
Line of Business : |
Dealers
of Computer Peripherals. |
GENERAL
INFORMATION
|
Bankers : |
State
Bank of India Sadar Bazar,
Agra State
Bank of India SIB
Branch, Agra |
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Banking Relations : |
Satisfactory
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Auditors : |
Renu
& Company Chartered
Accountants, 76,
North Vijay Colony, Agra – 282004, Uttar Pradesh, India |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
250000 |
Equity
Shares |
Rs. 10/- each |
Rs. 2.500 millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
250000 |
Equity
Shares |
Rs. 10/- each |
Rs. 2.500 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
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|
SHAREHOLDERS FUNDS |
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1] Share Capital |
|
2.500 |
0.285 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
0.127 |
0.028 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
2.627 |
0.313 |
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LOAN FUNDS |
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|
|
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1] Secured Loans |
|
14.231 |
0.091 |
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2] Unsecured Loans |
|
0.000 |
0.000 |
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TOTAL BORROWING |
|
14.231 |
0.091 |
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|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
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Advances from Shareholders and Directors |
|
0.000 |
0.250 |
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|
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|
|
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TOTAL |
|
16.858 |
0.654 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
1.973 |
0.056 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
|
12.532 |
4.603 |
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Sundry Debtors |
|
13.582 |
0.279 |
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Cash & Bank Balances |
|
1.149 |
0.105 |
|
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Other Current Assets |
|
0.000 |
0.000 |
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Loans & Advances |
|
2.065 |
0.098 |
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Total Current Assets |
|
29.328 |
5.085 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
|
14.024 |
4.487 |
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Provisions |
|
0.419 |
0.000 |
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Total Current Liabilities |
|
14.443 |
4.487 |
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Net Current Assets |
|
14.885 |
0.598 |
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MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
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TOTAL |
|
16.858 |
0.654 |
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KEY
RATIOS
|
PARTICULARS |
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|
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
|
-- |
-- |
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Net
Profit Margin (PBT/Sales) |
(%) |
|
-- |
-- |
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Return
on Total Assets (PBT/Total
Assets} |
(%) |
|
-- |
-- |
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Return
on Investment (ROI) (PBT/Networth) |
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|
-- |
-- |
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Debt
Equity Ratio (Total
Liability/Networth) |
|
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10.91 |
14.62 |
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Current
Ratio (Current
Asset/Current Liability) |
|
|
2.03 |
1.13 |
LOCAL AGENCY
FURTHER INFORMATION
Subject
was incorporated on 18th December, 1998 as ‘MKG Crefin Private
Limited’. The name was changed to ‘MKG
Infosys Private Limited’ w.e.f. 1st March, 2001. Again the name was changed to the present
name.
Celeron,
Celeron Inside, Centrino, Centrino Logo, Core Inside, Intel, Intel Logo, Intel
Core, Intel Inside, Intel Inside Logo, Intel SpeedStep, Intel Viiv, Itanium,
Itanium Inside, Pentium, Pentium Inside, Xeon and Xeon Inside are trademarks or
registered trademarks of Intel Corporation or its subsidiaries in the United
States and other countries
|
Name of the company |
MKG COMPUTERS PRIVATE LIMITED |
|
Presented By |
STATE BANK OF INDIA, SADAR BAZAR, AGRA |
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1) Date and description of instrument creating the change |
Agreement of loan cum hypothecation [Form SME – 2] dated 27.10.2005 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 11.700 millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation of oil present and future stocks of computers and electronic hardware and peripherals, spares, raw materials, goods, book debts and vehicles and all other movable assets of the borrowers including receivables, documents of title to goods, outstanding monies, bills, invoices, documents, contracts, insurance policies, guarantees, engagements securities, investments and rights and the present machinery and all the future machinery belonging to or in the possession of the borrower or of the bank or of any third party whether in India or elsewhere including al such goods, vehicles, other movable assets as may be in the course of shipment transit or delivery and all the machinery, vehicles and other equipment items of whatever nature acquired by the borrower pursuant or subsequent to these presents |
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4) Gist of the terms and conditions and extent and operation of the charge. |
The above are hypothecated to secure the cash credit [hypothecation] limit of Rs. 11.700 millions granted by bank to the company Interest to be charged at the rate of 1.25% below State Bank advance rate with a minimum of 9% per annum Margin : Finished Goods – 25% The company has also undertaken that during the currency of the bank’s credit facilities. The company will not, without the banks prior permission in writing :- a. Create any further charge, lien or encumbrance over the assets and properties of the nit / guarantors to be charged / charged to the bank in favour of any other bank, financial institution, firm or persons b. Enter into borrowing arrangements either secured or unsecured with any other bank / financial institution / company or otherwise or accept deposits from the arrangements indicated in the funds flow statement submitted to the bank from time to time and approved by the bank c. Undertake guarantee obligations on behalf of any other company, firm or person Other terms and conditions shall be applicable as per Letter of Arrangement [Form SME -1] No. CM/2005-06/175 dated 14.10.2005 duly accepted by the company |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of India, Sadar Bazar, Agra |
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6) Date and brief description of instrument modifying the charge |
N.A. |
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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. |
N.A. |
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Name of the company |
MKG COMPUTERS PRIVATE LIMITED |
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Presented By |
STATE BANK OF INDIA, SIB BRANCH, AGRA |
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1) Date and description of instrument creating the change |
Agreement of loan cum hypothecation [Form SME – 2] dated 27.10.2005 registered on 16.11.2005 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 11.700 millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation of oil present and future stocks of computers and electronic hardware and peripherals, spares, raw materials, goods, book debts and vehicles and all other movable assets of the borrowers including receivables, documents of title to goods, outstanding monies, bills, invoices, documents, contracts, insurance policies, guarantees, engagements securities, investments and rights and the present machinery and all the future machinery belonging to or in the possession of the borrower or of the bank or of any third party whether in India or elsewhere including all such goods, vehicles, other movable assets as may be in the course of shipment transit or delivery and all the machinery, vehicles and other equipment items of whatever nature acquired by the borrower pursuant or subsequent to these presents |
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4) Gist of the terms and conditions and extent and operation of the charge. |
b. Enter into borrowing arrangements either secured or unsecured with any other bank / financial institution / company or otherwise or accept deposits from the arrangements indicated in the funds flow statement submitted to the bank from time to time and approved by the bank c. Undertake guarantee obligations on behalf of any other company, firm or person Other terms and conditions shall be applicable as per Letter of Arrangement [Form SME -1] No. CM/2005-06/175 dated 14.10.2005 duly accepted by the company |
|
5) Name and Address and description of the person entitled to the charge. |
State Bank of India, Sadar Bazar Branch, Agra |
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6) Date and brief description of instrument modifying the charge |
Agreement of Loan cum Hypothecation [Form SME – 2] dated 08.12.2005 |
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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. |
On renewal, the cash credit limit has been enhanced from Rs. 11.700 millions to Rs. 19.000 millions. Therefore, the total amount of charge secured against hypothecation of stocks, book debts, plant & machinery etc. as mentioned in column number [3] above has now been enhanced from Rs. 11.700 millions to Rs. 19.000 millions The above said charge was originally created in favour of State Bank of India, Sadar Bazar Branch, Agra which stands transferred in favour of State Bank of India, SIB Branch, Sanjay Place, Agra. Therefore, in column No. 5 above, the name and address of the person entitled to charge should now be read as under :- State Bank of India, SIB Branch, Sanjay Place, Agra Other terms and conditions shall be applicable as per, Letter of arrangement [SME-1] dated 28.11.2005 |
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.44.24 |
|
UK
Pound |
1 |
Rs.86.95 |
|
Euro |
1 |
Rs.57.33 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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 |
|