MIRA INFORM REPORT
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Report Date : |
10.07.2007 |
IDENTIFICATION
DETAILS
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Name : |
RONCH
POLYMERS PRIVATE LIMITED |
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Registered Office : |
11
& 12, Busa Industrial Estate, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
07.12.1995 |
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Com. Reg. No.: |
11-95063 |
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CIN No.: [Company Identification No.] |
U25209MH1995PTC095063 |
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TAN No.: [Tax Deduction & Collection Account
No.] |
MUMR08834A |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Manufacturers
of plastic injection moulded items. |
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 270000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually
correct |
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Litigation : |
Clear |
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Comments : |
Subject
is a well established and reputed company having satisfactory track. Trade relations are fair. Financial position is satisfactory. Payments are usually correct and as per
commitments. The
company can be considered good for normal business dealings at usual trade
terms and conditions. |
LOCATIONS
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Registered / Head Office : |
11
& 12, Busa Industrial Estate, T. J. Road, Sewree [West], Mumbai – 400015,
Maharashtra, India |
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Tel. No.: |
91-22-24116248 |
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Fax No.: |
91-22-24116248 |
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E-Mail : |
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Website : |
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Factory
: |
L –
101, MIDC Industrial Area, Taloja, District Raigad - 410208, |
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Tel.
No.: |
91- 27402067/27402524/27901020 |
DIRECTORS
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Name : |
Mr.
Champalal Kaluram Jain |
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Designation : |
Director
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Address : |
11,
Hariniwas Co-operative Housing Society, 2nd Floor, L. B. S. Marg,
Kurla, Mumbai – 400070, |
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Date of Birth/Age : |
01.03.1954 |
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Date of Appointment : |
07.12.1995 |
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Name : |
Mr.
Inder Vimalchand Borana |
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Designation : |
Director
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Address : |
208/209,
Jeevan Vihar, |
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Date of Birth/Age : |
15.07.1967 |
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Date of Appointment : |
07.12.1995 |
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Name : |
Mr.
Laxmichand Shivlal Borana |
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Designation : |
Director
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Address : |
5/37,
Jaldarshan, |
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Date of Birth/Age : |
06.03.1957 |
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Date of Appointment : |
07.12.1995 |
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Name : |
Mr.
Vimalchand Shivlal Borana |
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Designation : |
Director
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Address : |
208/209,
Jeevan Vihar, |
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Date of Birth/Age : |
09.07.1946 |
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Date of Appointment : |
09.12.1995 |
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Name : |
Mr.
Arun Babulal Rathod |
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Designation : |
Director |
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Address : |
Flat
No. 74, 7th Floor, Dadar Chitra Co-operative Housing Society,
Behind Chitra Cinema, |
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Date of Birth/Age : |
16.09.1973 |
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Date of Appointment : |
16.01.1998 |
MAJOR
SHAREHOLDERS
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Names
of Shareholders |
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No. of Shares |
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EQUITY SHARES |
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Mr.
Champalal K. Jain |
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1460 |
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Mr.
Inder V. Borana |
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9650 |
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Mr.
Laxmichand S. Borana |
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1760 |
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Mr. Manek
C. Jain |
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16050 |
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Mr.
Anil Bhushan |
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290 |
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Ms.
Archana A. Bhushan |
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200 |
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Mr.
Vimalchand S. Borana |
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100 |
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S. P.
Shah & Sons [HUF] |
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100 |
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Mr.
Arun B. Rathod |
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10390 |
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Mr. Pravin
B. Rathod |
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1610 |
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Mr.
Sanjay V. Borana |
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8035 |
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Chanvim
Engineering India Private Limited |
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1 |
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Mr.
Fatehchand M. Shah |
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1 |
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Ms.
Neeta S. Trivedi |
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1 |
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Ms.
Bhanu D. Jain |
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1 |
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Mr.
Shantilal C. Jain |
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1 |
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Mr.
Champalal K. Jain [HUF] |
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14490 |
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Ms.
Dharmavati V. Borana |
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29340 |
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Ms.
Pushpa L. Borana |
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6520 |
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PREFERENCE SHARES |
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Mr.
Champalal K. Jain |
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8500 |
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Mr.
Laxmichand S. Borana |
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6000 |
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Mr.
Manek C. Jain |
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5000 |
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Mr.
Arun B. Rathod |
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3000 |
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Mr.
Pravin B. Rathod |
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1000 |
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Mr.
Sanjay V. Borana |
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7000 |
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Chanvim
Engineering India Private Limited |
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22500 |
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Mr.
Champalal K. Jain [HUF] |
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27000 |
BUSINESS
DETAILS
|
Line of Business : |
Manufacturers
of plastic injection moulded items. |
GENERAL
INFORMATION
|
Suppliers : |
Ř
Chanvim Engineering [ Ř
Dheeraj Tools & Engineering Products Ř
Eastern Peripherals Private Limited Ř
Prasad GWK Cool Tech Private Limited Ř
Ritik Ceramics Private Limited Ř
TUV India Private Limited Ř
Viajy Hydraulic [ Ř
Bhairavi Traders Ř
L & T Limited Ř
L & T Demag Plastic Machine Private Limited Ř
Paras Marble Industries Private Limited Ř
Perfect Transformer Oil Federation Ř
Roop Telesonic Ultrasonic Ř
Aalekh Industries [ Ř
Flamingo Poly Colour Private Limited Ř
Fortune Packaging Private Limited Ř
Mouldcraft [ Ř
Premium Moulding Processing Private Limited Ř
Supreme Petrochem Limited Ř
Uni Globe Packaging Private Limited Ř
Vishwanath Packaging Industries Ř
Vallabh Polyplast Industries Limited |
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Customers : |
Ř
Amber Enterprises [ Ř
B. S. Refrigetion Ř
Clariant [ Ř
Chanvim Plastics Private Limited Ř
Daewoo Anchor Electrical Ř
Electrolux India Limited Ř
Exide Industries Limited Ř
Exotech Plastics Private Limited Ř
Ergocomp Plastics [ Ř
Jay Body Hanger Ř
I. G. E. India Private Limited Ř
Penta Force Batteries Private Limited Ř
Universal Comfort Product Private Limited Ř
V.I.P. Industries Limited Ř
Voltas Limited, Ř
Vijay Engineering |
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Bankers : |
Citi
Bank N.A. HDFC
Bank Limited Abhyudaya
Co-operative Bank Limited Bank
of IndusInd
Bank Limited State
Bank of State
Bank of |
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Facilities : |
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Banking Relations : |
satisfactory |
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Auditors : |
N. J.
Mehta & Company Chartered
Accountants, 42-48,
Raghunath Maharaj Street, 10, Bahrinwala Building, 1st Floor,
Mandvi – Koliwada, Near Carnak Bridge, Mumbai – 400003, Maharashtra |
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Tel. No.: |
91-22-23410109/23448851 |
CAPITAL
STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
600000 |
Equity
Shares |
Rs. 100/- each |
Rs. 60.000 millions |
Issued,
Subscribed & Paid-up Capital :
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No.
of Shares |
Type |
Value |
Amount |
|
180000 |
Equity
Shares |
Rs. 100/- each |
Rs. 18.000 millions |
FINANCIAL
DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
18.000 |
18.000 |
10.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
51.357 |
51.131 |
35.537 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
69.357 |
69.131 |
45.537 |
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LOAN FUNDS |
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1] Secured Loans |
100.975 |
105.540 |
54.398 |
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2] Unsecured Loans |
50.588 |
31.463 |
29.873 |
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TOTAL BORROWING |
151.563 |
137.003 |
84.271 |
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DEFERRED TAX LIABILITIES |
21.106 |
0.000 |
0.000 |
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TOTAL |
242.026 |
206.134 |
129.808 |
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APPLICATION
OF FUNDS |
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FIXED
ASSETS [Net Block] |
158.036 |
151.011 |
79.070 |
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Capital
work-in-progress |
7.383 |
4.101 |
3.027 |
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INVESTMENT |
0.058 |
7.558 |
7.558 |
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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 |
38.077
|
26.913
|
17.559 |
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Sundry
Debtors |
34.906
|
44.492
|
27.095 |
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Cash
& Bank Balances |
1.109
|
2.564
|
2.099 |
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Other
Current Assets |
0.000
|
0.000
|
0.000 |
|
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Loans
& Advances |
35.554
|
31.801
|
25.257 |
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Total Current
Assets |
109.646
|
105.770 |
72.010 |
|
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current
Liabilities |
29.491
|
60.097
|
31.897 |
|
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Provisions |
3.632
|
2.240
|
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Total Current
Liabilities |
33.123
|
62.337 |
31.897 |
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Net Current Assets |
76.523
|
43.433 |
40.113 |
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MISCELLANEOUS
EXPENSES |
0.026 |
0.031 |
0.040 |
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TOTAL |
242.026 |
206.134 |
129.808 |
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PROFIT & LOSS ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Sales Turnover [including other income] |
254.733 |
190.865 |
106.493 |
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|
|
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Profit/(Loss) Before Tax |
24.673 |
17.839 |
12.421 |
|
Provision for Taxation |
0.000 |
0.000 |
1.034 |
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Profit/(Loss) After Tax |
24.673 |
17.839 |
11.387 |
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Expenditures : |
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Interest |
16.165 |
|
|
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Depreciation |
8.514 |
5.330 |
94.072 |
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Other Expenses |
205.380 |
154.794 |
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Total Expenditure |
230.059 |
173.026 |
94.072 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
9.68
|
9.35 |
10.69 |
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Net Profit Margin (PBT/Sales) |
(%) |
9.68
|
9.35 |
11.66 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
9.22
|
6.95 |
8.22 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.35
|
0.26 |
0.27 |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.66
|
2.88 |
2.55 |
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Current Ratio (Current Asset/Current Liability) |
|
3.31
|
1.70 |
2.25 |
LOCAL
AGENCY FURTHER INFORMATION
FIXED ASSETS
Ř
Land
Ř
Buildings
Ř
Machineries
Ř
Electrical Installations
Ř
Moulds
Ř
Office Equipments
Ř
Computers
Ř
Furniture & Fixtures
Ř
Motor Vehicles
Form 8 Particular for creation or
modification of charges
|
Name
of the company |
RONCH
POLYMERS PRIVATE LIMITED |
|
Presented By |
Mr.
Laxmichand Borana / Mr. Champalal Kaluram Jain |
|
1)
Date and description of instrument creating the change |
Goods
security agreement dated 29th May, 2001 executed by Ronch Polymers
Private Limited [Hereinafter referred to as “the Company”] in favour of
Citibank N.A. [therein and hereinafter referred to as “the Lendor”] |
|
2)
Amount secured by the charge/amount owing on the securities of charge |
Fund
based facilities for Rs. 20.000 millions and non fund based facilities for
Rs. 7.500 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 stocks, book debts forming part of its assets both present and future |
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4)
Gist of the terms and conditions and extent and operation of the charge. |
In
consideration of the lender having agreed to lend advance to the company,
fund based & non fund based facilities under agreement and declaration by
the company inter alia, as follows : 1.
Covenant by the company to repay the facility at [2] above and pay interest
and all other monies in the manner set out in the Goods Security Agreement
between the company and the lender and to comply with the terms and
conditions of the said goods security agreements. 2. The
said stocks, book debts hypothecated, to the lender as and by way of first
charge as security for and be charged with the repayment of the loan with all
interest, liquidated, damages, premia on prepayment or on redemption, costs,
charges, and other expenses payable by the company to the lender in respect
thereof. Margin
– 36% 3. The
companies to keep the said goods in marketable and good condition and also
insured as provided therein 4.
Power of entry, power to take charge and / or possession of , seize, recover,
receive, appoint and sell, contract, dispatch for realisation or otherwise
dispose of or deal with all or any part of the said goods; etc., as provided
therein |
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5)
Name and Address and description of the person entitled to the charge. |
CITIBANK,
N.A. Bandra
Kurla Complex, G – Block, Bandra [East], Mumbai – 400051 |
|
6)
Date and brief description of
instrument modifying the charge |
Deed
of Modification dated 20.04.2004 relating to increase in credit facilities |
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7)
Particulars of modifications already registered / filed in the office of the
registrar of the companies |
Deed
of Modification dated 07.11.2003 for Rs. 30 millions |
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8)
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
original charge was created on 29.05.2001 for securing Rs. 27.500 millions
which was modified on 07.11.2003 for Rs. 30 millions by way of first charge
on current assets. The
Bank has now extended additional facilities to the company and made a new
deed of modification for Rs. 38.500 millions which is an increase of Rs.
8.500 millins which is secured against the said current and moveable assets
[including stock & debtors and plant and machinery] Hypothecated
by way of first charge to the lender both present & future. |
|
Name
of the company |
RONCH
POLYMERS PRIVATE LIMITED |
|
Presented By |
State
Bank of |
|
1)
Date and description of instrument creating the change |
a.
Agmt. Of loan for overall Limit [Form C- 1] b.
Agmt. Of Hypo. Of goods and Assets [Form C – 2] c. Letter
regarding the grant of individual limits overall limit [Form C – 5] All
the above agmt. are dt. 26.07.2004 and executed for the creation of a single
charge |
|
2)
Amount secured by the charge/amount owing on the securities of charge |
Rs.
124.800 millions Cash
Credit [Stock] : Rs. 45.000 millions Sub-Limit
Cash Credit : Rs. [30.000] millions [Book
Debts] [cover period 90 days] Term
Loan : Rs. 58.800 millions Bank
Guarantee : Rs. 21.000 millions
---------------------------------------- Rs. 124.800
millions
====================== [Including
one time counter guarantee limit Rs. 19.500 millions to be issued to CITI
Bank] |
|
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
first charge by way of hypothecation of the borrower’s entire goods, movable
and other assets present and future including documents of title to the goods
and other assets. Such as book debts
outstanding moneys, receivables including receivables by way of cash
assistance and / or cash incentive under the Cash Incentive Scheme or any
other scheme. Claims, including claims
by way of refund of customs/excise duties under the Duty Drawback Credit
Scheme or any other scheme, bills, invoices, documents, contracts, insurance
policies, guarantee, engagements, securities, investments and rights uncalled
capital all machinery present and future of such from satisfactory to the
Bank. Raw materials, stocks
–in-process finished goods, book debts / receivables [cover period 90 days] |
|
4)
Gist of the terms and conditions and extent and operation of the charge. |
R.O.I.
: As would be determined by the bank from time to time MARGIN
: Raw materials : 25% Stocks – in – process :
33.33% Finished goods : 25% Book debts / receivable :
40% [cover period 90 days] REPAYMENT
: First
9 monthly instalments of Rs. 0.900 million Next
12 monthly instalments of Rs. 0.900 million Next
10 monthly instalments of Rs. 1.000 millions Next 2
monthly instalments of Rs. 1.100 millions Next
monthly instalments of Rs. 1.200 millions Last
12 monthly instalments of Rs. 1.200 millions [Each instalments
is payable on 1st of every month] |
|
5)
Name and Address and description of the person entitled to the charge. |
State
Bank of Churchgate
Branch, Mumbai
– 400020 |
|
6)
Date and brief description of
instrument modifying the charge |
No
instrument. Memorandum of Deposit of Title Deeds for creation of Equitable
Mortgage dt. 10.08.2004 |
|
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
original charge was created on 26.07.2004 for Rs. 124.800 millions. Now by the present modification dt.
10.08.2004 the company offered an additional mortgage by deposit of title
deed over its movable properties by fixing the mortgage at Rs. 124.800
millions including interest, cost, charges, and expenses due or becoming due
and payable by the said borrower. The
immovable properties hereinabove referred under are as follows : Plot
No. 7, S. No. 57/3, Village Dunetha, Nani Daman All
that piece or parcel of non agricultural land know as Plot No. 7, Survey No.
57/3 of Village Dunetha, Nani Daman, within the jurisdiction of Varkund Group
Gram Panchayat, Taluka Daman, District Daman bounded as under : On or
towards the East : by the plot no. 16 of survey no. 57/3 of village Dunetha On or
towards the West : 10 mt. wide road On or
towards the North : by the old plot no. 13 On or
towards the South : by the plot no. 17 Plot
no. L – 101, Taloja Industrial Area, Taluka Panvel District Raigad All that
piece or parcel of land known as Plot No. L -101, in the Taloja Industrial
Area, within the village limits of Tondare and outside the limits of
Municipal Council in rural area, Taluka and Registration sub-district Panvel,
District and Registration District Raigad, containing by admeasurement 2400
sq. mts. or thereabouts bounded as under : On or
towards the On or
towards the South West : by On or
towards the North East : by Plot No. L – 102 & On or
towards the South West : by |
|
Name
of the company |
RONCH
POLYMERS PRIVATE LIMITED |
|
Presented By |
State
Bank of |
|
1)
Date and description of instrument creating the change |
a.
Agmt. Of loan for overall Limit [Form C- 1] b. Agmt.
Of Hypo. Of goods and Assets [Form C – 2] c.
Letter regarding the grant of individual limits overall limit [Form C – 5] All
the above agmt. are dt. 26.07.2004 and executed for the creation of a single
charge |
|
2)
Amount secured by the charge/amount owing on the securities of charge |
Rs.
124.800 millions Cash
Credit [Stock] : Rs. 45.000 millions Sub-Limit
Cash Credit : Rs. [30.000] millions [Book
Debts] [cover period 90
days] Term
Loan : Rs. 58.800 millions Bank
Guarantee : Rs. 21.000 millions
---------------------------------------- Rs. 124.800
millions
====================== [Including
one time counter guarantee limit Rs. 19.500 millions to be issued to CITI
Bank] |
|
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
first charge by way of hypothecation of the borrower’s entire goods, movable
and other assets present and future including documents of title to the goods
and other assets. Such as book debts
outstanding moneys, receivables including receivables by way of cash
assistance and / or cash incentive under the Cash Incentive Scheme or any other
scheme. Claims, including claims by
way of refund of customs/excise duties under the Duty Drawback Credit Scheme
or any other scheme, bills, invoices, documents, contracts, insurance
policies, guarantee, engagements, securities, investments and rights uncalled
capital all machinery present and future of such from satisfactory to the
Bank. Raw materials, stocks
–in-process finished goods, book debts / receivables [cover period 90 days] |
|
4)
Gist of the terms and conditions and extent and operation of the charge. |
R.O.I.
: As would be determined by the bank from time to time MARGIN
: Raw materials : 25% Stocks – in – process :
33.33% Finished goods : 25% Book debts / receivable :
40% [cover period 90 days] REPAYMENT
: First
9 monthly instalments of Rs. 0.900 million Next
12 monthly instalments of Rs. 0.900 million Next
10 monthly instalments of Rs. 1.000 millions Next 2
monthly instalments of Rs. 1.100 millions Next
monthly instalments of Rs. 1.200 millions Last
12 monthly instalments of Rs. 1.200 millions [Each
instalments is payable on 1st of every month] |
|
5)
Name and Address and description of the person entitled to the charge. |
State
Bank of Churchgate
Branch, Mumbai
– 400020 |
|
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 |
WEBSITE DETAILS:
The company is one of the pioneer molders
specializing in injection molding having a experience of over a decade in
the field of plastic molding. The group is known for its high quality, timely supply and right
price. The groups commitment towards high quality is trusted by various
multinationals with whom the group enjoys a committed relationships.
It is
primarily the preferred OEM suppliers for various multinational companies
namely Hindustan Lever, Tata Autoplastic Limited, Electrolux, Exide and Fiat
India Limited
Introduction
The company is a fast growth, quality
centric injection moulding and mould making organization based in
Started
in 1995 with one facility and few machines, RPPL grew from that stage to thirty
eight machines making it presence at four different cities namely Mumbai, Pune,
Plastics
Aluminum
Mould
Making
Distribution
C
& F Services
The
Groups strength is Plastics in which it has been able to achieve new heights.
Plastics segment has a capacity of 6000 MTPA and is a preferred OEM supplier to
multinationals like Electrolux, Exide, Hindustan Lever, Daewoo Anchor
Electronics Limited, Tata Auto Plastic Limited and Fiat India Limited
Quality
Commitment
Their strength
is its dedicated commitment to quality. Their quality standards have enabled them
to win and retain job works of various MNC's and industry leaders like
Electrolux, Exide, Hindustan Lever, Daewoo Anchor Electronics Limited, Tata
Auto Plastic Limited and Fiat India Limited They are an ISO 9001:2000 certified
company.
People
Lead by
experienced businessman and by professionals having deep knowledge in the field
of polymers along with dedicated employees they have one of the best teams to
serve their customers better.
Future
The
company is trying to position itself as the specialists in high performance
injection moulding . For this they their upgrading their quality standards and
technology to serve their customers better and better !!
The
company’s mission is to be the leader in the custom injection molding of close
tolerance parts. RPPL will accomplish this through the utilization of the
latest technologies and materials to solve their customer's most difficult
technical and quality related problems. Acknowledging that their employees their
RPPL's greatest assets, they will continuously support the growth and development
of their employees.
History
RONCH
POLYMERS PRIVATE LIMITED (RPPL) is a private limited company incorporated on
7th December 1995, with the Registrar of Companies,
It is a
Borana group of companies. The well-diversified group of companies shares its
interests in various industries like aluminum, plastics, wholesale &
distribution and jewellery. The plastic segment of the group has four Plastic
Moulding plant at Taloja (Mumbai), Hinjewadi (Pune), Daman and Butibori (
In all
group has 38 machines ranging from 50T to 1800T making it one of the
largest processor of Plastics for industrial clientele. Group is pioneer in
manufacturing of high quality plastics molded products on the state of art
moulding machineries catering to the needs of various multinational's like
Eletolux Kelvinator Limited, Hindustan Lever Limited, Tata Auto Plastic Limited,
Exide industries Limited, Daewoo Anchor Electronics Limited, Fiat India Limited,
LG Electronics Limited, Samsung who treat the group as its preferred OEM suppliers
for over a decade.
Due to
RPPL's unique abilities to solve problems for
Clientele
Group has treasured its relationship with its clients through its faith
in quality, timely supply and right price. This faith has helped it maintain
these relationship over a long period of time. Their Expanding Clientele which
is a treasure for them is as follows:
v
Hindustan Lever Limited Associated Since 1995.
v
Electrolux Kelvinator Limited Associated Since 1995.
v
Fiat India Limited
Associated Since 1999.
v
Tata Auto Plastics Systems Limited Associated Since
1999.
v
Lg Electronics Limited Associated Since 1999
v
Ucpl (
v
Allwyn Limited
Associated Since 1990.
v
Whirlpool India Limited Associated Since 1995.
v
Bpl India Limited
Associated Since 1998.
v
Videocon Appliances Limited Associated Since 1998.
v
Exide Industries Limited Associated Since 1998
v
Daewoo India Limited
Associated Since 1999
v
Zandu Pharmaceuticals Associated Since 1999.
v
Ergocomp India Limited Associated Since 2003
CMT
REPORT [Corruption,
Money laundering & Terrorism]
The
Public Notice information has been collected from various sources including but
not limited to: The Courts,
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.40.41 |
|
|
1 |
Rs.81.37 |
|
Euro |
1 |
Rs.54.98 |
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 |