MIRA INFORM REPORT

 

 

Report Date :

09.06.2007

 

IDENTIFICATION DETAILS

 

Name :

KAWARLAL AND COMPANY

 

 

Registered Office :

27, Raghunayakulu Street, Chennai - 600 003, Tamilnadu

 

 

Country :

India

 

 

Financials (as on) :

31.03.2007

 

 

Date of Incorporation :

1960

 

 

IEC No.:

0501017305

 

 

Legal Form :

Sole Proprietory Concern

 

 

Line of Business :

Distributors, Importers and Traders of Pharmaceutical Equipments.

 

 

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 64000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is a well-established and reputed concern in its field.  The concern is progressing well. Business is looked after by sons of the proprietor who are respectable, experienced, and resourceful businessmen. They possess immovable property of important value. Their payments are usually correct and as per commitments.

 

The concern can be considered good for normal business dealings at usual trade terms and conditions.

 

 

LOCATIONS

 

Registered Office :

27, Raghunayakulu Street, Chennai - 600 003, Tamilnadu, India

Tel. No.:

91-44-25352767 / 5801 / 7534

Fax No.:

91-44-25350234

E-Mail :

1. kawar@md3.vsnl.net.in

2. sales@kawarlal.com

3. info@kawarlal.com

Website :

http://www.kawarlal.com

Area :

600 sq. fts

Location :

Owned

 

 

Accounts Office :

16, Nyniappa Street, Chennai – 600 003, Tamilnadu

Tel. No.:

91-44-25358434 / 25344364

Fax No.:

91-44-25351199

E-Mail :

1. accounts@kawarlal.com

2. kawarac@dishnetdsl.net

 

 

Godown:

No. 166, G.N.T. Road, Nnadhavaratra , Chennai

Tel. No.:

91-44-55379527

Area :

19500 Sq.fts

Location :

Owned

 

 

Branches:

Mumbai Office:

“Samaj Deep” 301, Jamnadas Adukla Road, 3rd Floor, Kandivali (W), Mumbai – 400 067, Maharashtra, India

Tel No.:

91-22-28638200

Fax No.:

91-22-28638222

E-Mail :

Mumbai@kawarlal.com

 

 

SOLE PROPRIETOR

 

Name :

Mrs. Manori Bai

Designation :

Proprietor

Date of Birth/Age :

73 years

Address :

208, Mint Street, Chennai -600003

 

 

KEY EXECUTIVES

 

Name :

Mr. K. Vijay Jain

Designation :

Chief Executive

Address :

208, Mint Street, Chennai -600003

Date of Birth/Age :

55 years

Qualification :

XII

Experience :

38 years

 

 

Name :

Mr. K. Parasmal Jain

Designation :

Chief Executive

Address :

41, Raghunayakulu Street, Chennai 600003

Date of Birth/Age :

46 years

Qualification :

B. Com

Experience :

25 years

 

 

Name :

Mr. K. Ramlal Jain

Designation :

Chief Executive

Address :

27, Raghunayakulu Street, Chennai 600003

Mobile No.:

91-9840966544

Date of Birth/Age :

43 years

Qualification :

XII

Experience :

23 years

 

 

BUSINESS DETAILS

 

Line of Business :

Distributors, Importers and Traders of Pharmaceutical Equipments.

 

 

Products :

·         Lactose 200 Mesh

·         DCL 11

·         DCL 15

·         DCL 21

·         Sodium Starch Glycolate USP / NF

·         Croscarmellose Sodium USP / NF

·         Pregelatinated Starch USP / NF

·         Aspartame Powder USP XXV

·         L-Phenylalanine

·         Polyvinyl Pyrollidone K30 USP XXV

·         Cross Linked PVP USP XXV

·         VA64 USP XXV

·         Cremophor R H 40

·         Fumed Silica / Coloidol Silicon Di Oxide

·         ADM Xanthan Gum

·         Xantham Gum

·         Calcium Citrate USP 24

·         L-Arginine Basic

·         PVPK 30

·         Polyvinyl Pyrollidone K 30 USP XXV

 

 

 

Agencies Held :

Ř       DMV International, The Netherlands

Ř       The Lactose Company of New Zealand

Ř       HMS, Holland

Ř       Indimet, New York

Ř       Cabot, Germany

Ř       AVEBE, The Netherlands

Ř       SPI, France

Ř       BASF, Germany

Ř       Monsanto, U.S.A.

Ř       The Nutra Sweet Co, USA

Ř       Cabot Sanmar Limited

Ř       Jiangbeii Food Addition Factory, China

Ř       Ningbo Haider Amino Acid Industry Co. Limited, China

Ř       Simcon Laboratories Limited, Mangalore, Karnataka

Ř       SPI Polyols, USA & France

Ř       Medkhm, Russia

Ř       Feicheng Ruitai Fine Chemicals Co. Limited, China

Ř       Amtex, Colombia

Ř       Archer Daniels Midland Co., USA

Ř       Zjmi-Alpharm Chemicals Co., China

Ř       Amtex Quinuica, Brazil

 

 

Imports from :

Holland Germany, The Netherlands, New Zealand, U.S.A., and Germany

 

Names of import items

Name of the manufacturers

Lactose, DCL Grades Lactose

Sodium Starch Glycoalte (Primojel), Croscarmellose, Sodium (Primellose)

M/s. DMV International – Holland

HPMC 60RT 5 CPS, 15 CPS, 50 CPS, HPMC K4M, K15M/K100 M USP ETHYL CELLULOSE N7/N10/N20/N50

M/s. Feicheng Ruitai, China

(Taian Ruitai Cellulose Company Limited, China)

Sodium CMC

M/s. Amtex – Quimica

Kollidon K30, Kollidon K 90, Cross Linked PVP, VA 64, MAZE 100 P, MAE 30 P, Cremophor RH 40/60 Lutrol F 127 /F 68

M/s. BASF – USA/Germany -

Mannitol powder USP

M/s. SPI Pharma – USA

Mannitol Pyrogen free

 

Aspartame Natrasweet powder USP L-Phenylalanine Neotame

M/s. The NutraSweet Company – USA

Lactose IP 200 M

M/s. Saputo Cheese g.p., Canada

PVP K 30 USP, PVP lodine, Crospovidone

M/s. Nanhang Industrial Co., Ltd.

 

Xanthan Gum    Pharma grade

M/s. Shandong Deosen

 Corporation - China

 

 

Terms :

 

Selling :

Credit (90 days)

 

 

Purchasing :

D/A (90 to 120 days) and Credit (90 days)

 

 

GENERAL INFORMATION

 

Customers :

Wholesalers, Retailers, End Users and OM’s

 

 

No. of Employees :

25 ( Office: 20 Godown: 5)

Group employs 150 people

 

 

Bankers :
  • Union Bank of India, Sowcarpet Branch, Mint Street, Chennai - 600 003, Tamilnadu

 

  • Bank of India

             Sowcarpet Branch, Devaraja Maddi Street, Chennai - 600003

 

 

Facilities :

Union Bank of India :-

Cash Credit Limit : Rs. 50.000 millions (Letter of Credit Limit)

                              Rs. 20.000 millions Cash Credit

 

 

 

Banking Relations :

Good

 

 

Auditors :

 

Name :

R. Rajendrakumar & Company

Chartered Accountants

Address :

374, Murt Street, Chennai – 600003

Tel. No.:

91-44-25354874/2934

 

 

Associates/Subsidiaries :

Ř       Vijay Sales Corporation       

Activity : Computer software Suppliers

 

Ř       Kawarlal & Sons     

Ř       27, Raghunayakulu Street, Chennai- 600003             

Activity : Dealing in raw material for Drugs &          

Pharmaceuticals

Sole Proprietor: Mr. Parasmal Jain

Annual Turnover: Rs. 60.00 millions

 

Ř       Kawarlal Agencies, Chennai, Tamilnadu

 

Ř       D. K. Enterprises, Chennai, Tamilnadu

41, Raghunayakulu Street, Chennai – 600003.

Line of Business : Importers and Distributors of Chemicals and Pharmaceuticals          

 

Ř       V. P. Traders, Chennai, Tamilnadu

 

Ř       Vijay Sons, Chennai, Tamilnadu

Ř       Manish Global Ingredients, Chennai

 

[All the above concerns are engaged in trading activity.]

 

 

CAPITAL STRUCTURE

 

 

Capital Investment :

 

Owned :

Rs. 150.000 millions

Borrowed :

Rs. 30.000 millions

Total :

Rs. 180.000 millions

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

Particulars

 

 

 

31.03.2007

Sales Turnover

 

 

1750.000

 

 

 ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2006

31.03.2005

31.03.2004

SHAREHOLDERS FUNDS

 

 

 

1] Proprietor’s Capital

16.121

15.422

13.009

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

0.000

0.000

0.000

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

16.121

15.422

13.009

LOAN FUNDS

 

 

 

1] Secured Loans

170.475

0.000

0.000

2] Unsecured Loans

0.000

129.708

53.437

TOTAL BORROWING

170.475

129.708

53.437

DEFERRED TAX LIABILITIES

0.000

0.000

0.000

 

 

 

 

TOTAL

186.596

145.130

65.118

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

3.079

3.122

0.911

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

0.000

0.000

0.001

DEFERREX TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
 

 

23.066

 

Sundry Debtors
 

 

83.830

 

Cash & Bank Balances

NA

231.222

0.334

 

Other Current Assets
 

 

(1.651)

 

Loans & Advances
 

 

7.480

Total Current Assets

NA

231.222

114.730

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Current Liabilities
 

90.517

50.524

 

Provisions
 

0.000

0.000

Total Current Liabilities

NA

90.517

50.524

Net Current Assets

182.616

140.705

64.206

 

 

 

 

MISCELLANEOUS EXPENSES

0.900

0.000

0.000

 

 

 

 

Difference in opening balance

0.001

1.302

0.000

 

 

 

 

TOTAL

186.596

145.130

65.118

 

 

 

 

 

 

PROFIT & LOSS ACCOUNT

 

PARTICULARS

 

31.03.2006

31.03.2005

31.03.2004

Sales Turnover

768.308

520.000

482.405

Other Income

87.633

0.000

0.000

Total Income

855.941

520.000

482.405

 

 

 

 

Profit/(Loss) Before Tax

3.823

3.694

55.956

Provision for Taxation

0.000

0.000

0.000

Profit/(Loss) After Tax

3.823

3.694

55.956

 

 

 

 

Expenditures :

 

 

 

 

Manufacturing Expenses

678.869

0.000

0.000

 

Direct Expenses

13.186

0.000

0.000

 

Administrative Expenses

83.461

0.000

0.000

 

Other Expenditure

76.602

81.845

53.459

Total Expenditure

852.118

81.845

53.459

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2006

31.03.2005

31.03.2004

PAT / Total Income

(%)

0.45

0.71

11.60

 

 

 

 

 

Net Profit Margin

(PBT/Sales)

(%)

0.50

0.71

11.60

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

NA

1.58

48.39

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.24

0.24

4.30

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

NA

14.28

8.07

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

NA

2.55

2.27

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Business:

 

Subject acts as Importers and Traders of Pharmaceutical Equipments.

 

It imports Lactose, Pupk30 Cabosir, Kollidone from Holland, New Zealand, U.S.A., and Germany against D/A (90 to 120 days) terms.

 

It is in trade terms with:-

 

Ř       DMV International, The Netherlands

Ř       The Lactose Company of New Zealand

Ř       HMS, Holland

Ř       Indimet, New York

Ř       Cabot, Germany

Ř       AVEBE, The Netherlands

Ř       SPI, France

Ř       BASF, Germany

Ř       Monsanto, U.S.A.

Ř       The Nutra Sweet Co, USA

Ř       Cabot Sanmar Limited

Ř       Jiangbeii Food Addition Factory, China

Ř       Ningbo Haider Amino Acid Industry Co. Limited, China

Ř       Simcon Laboratories Limited, Mangalore, Karnataka

Ř       SPI Polyols, USA & France

Ř       Medkhm, Russia

Ř       Feicheng Ruitai Fine Chemicals Co. Limited, China

Ř       Amtex, Colombia

Ř       Archer Daniels Midland Co., USA

Ř       Zjmi-Alpharm Chemicals Co., China

Ř       Amtex Quinuica, Brazil

Ř       M/s. APEX Laboratories, Chennai SIDCO Garment Complex

Ř       The Madras Pharmaceuticals, 137 –B, Old Mahabalipuram Road, Karnataka

Ř       M/s. Arvind Remedies, 190, Poonamllie, High Road, Chennai 600084

      Tel No: 91-44-2642364

 

Website Details Attached:

 

Profile:

The house of Kawarlal is a time tested and trusted name for the supply of quality Imported Drugs and other Pharmaceutical Excipients.

Established in 1959 by Late Sri. Kawarlal Jain, with the mission of offering the world's leading food ingredients and pharmaceutical excipients in India. With a solid foundation in superior customer service and technical support, we offer to the Indian Industry a broad portfolio of international ingredients designed to improve the taste, texture and performance of the end products.

They believe in strong fundamentals, and stand firmly committed to quality, uninterrupted supplies, reliable technical support, liberal trade policies, competitive price and amicable customer relationship.

This has seen us capturing a major market share in every sphere of our activity. We thank our principals for their growing confidence in us, which propels us into accepting newer challenges. Hence open to more business opportunities.

They represent various internationally well known companies to name a few like DMV International - Holland, The NutraSweet Company- USA, Feicheng Ruitai Fine Chemicals - China, Hangzhou Nanhang - China, BASF -USA., ADM - USA, Les Formages Saputo Cheese Tee Ltd. - Canada, Mingtai Taiwan Chemicals co. Ltd. - China, SPI Polyols Inc. - USA, and Amtex Quinuica - Brazil.

 

 

Suppliers:

 

Their eminent suppliers' list are as follows:

  • DMV INTERNATIONAL, THE NETHERLAND
  • AVEBE
  • THE NUTRA SWEET CO., U.S.A
  •  B A S F., U.S.A / GERMANY
  •  CABOT SANMAR LTD, INDIA
  •  AMTEX – COLOUMBIA
  •  ARCHER DANIELS MIDLAND CO., U.S.A
  •  JIANGBEI FOOD ADDITION FACTORY, CHINA
  • NINGBO HAIDER AMINO ACID INDUSTRY CO. LTD., CHINA
  • ZJMI-ALPHARM CHEMICALS CO., CHINA
  • FEICHENG RUITAI FINE CHEMICALS CO. LTD., CHINA
  • S P I Polyols, U.S.A. & France
  • MEDKHM, RUSSIA
  • SIMCON LABORATORIES LTD., Mangalore India.

 

Products:

 

 

M/s. DMV International – Holland, US FDA Equivalent and DMF Producer (Largest) of pharmaceutical and Direct Compressible Lactose grade globally - We, as Largest Distributor in India.

BRAND

PRODUCT

PACKING

Pharmatose

Lactose 200 Mesh IP, BP, Ph.Eur, USP/NF, JP

25kg. Bag

Pharmatose

Lactose 50/80/125/150/450 Mesh IP, BP, Ph.Eur, USP/NF, JP

25kg. Bag

HMS

Lactose 200 Mesh IP, BP, Ph.Eur, USP/NF, JP

25kg. Bag

Pharmatose

DCL 11 Spray Dried Lactose IP, BP, Ph.Eur, USP/NF, JP

40kg. P.Drum

Pharmatose

DCL 15 Monohydrate Lactose IP, BP, Ph.Eur, USP/NF, JP

25kg. Bag

Pharmatose

DCL 21 Anhydrous Lactose IP, BP, Ph.Eur, USP/NF, JP

50kg. Drum

Primojel

Sodium Starch Glycolate IP, BP, Ph.Eur, USP/NF, JP

50kg. Drum

Primellose

Croscarmellose Sodium IP, BP, Ph.Eur, USP/NF, JP

25kg. Drum

Prejel Pa 5 pH

Pregelatinised Starch IP, BP, Ph.Eur, USP/NF, JP

25kg. Bag

 

 

 

M/s. Taian Ruitai Cellulose Co. Ltd. – China, World’s IIIrd and Asia’s IInd producer of Cellulose Ether and its derivatives - We, as Exclusive Distributor for India

BRAND

PRODUCT

PACKING

Rutocel

HPMC 60 RT 5CPS Premium IP, BP, USP 26, JP

25kg.F. Drum*

Rutocel

HPMC 60RT 15CPS IP, BP, USP 26, JP

25kg. F. Drum*

Rutocel

HPMC 60 RT 50CPS IP, BP, USP 26, JP

25kg. F. Drum*

Rutocel

HPMC 75 RT K4M/K15M/K100M IP, BP, USP 26, JP

25kg. F. Drum*

Fetocel

Ethyl Cellulose N7/N10/N20/N50 IP, BP, USP 26, JP

25kg. F. Drum*

Coatcel

Hydroxy Propyl Cellulose RT-LF IP, BP, USP 26, JP

25kg. F. Drum*

· Multi colour, Tamper proof Seal Fibre Drum

M/s. Amtex – Quimica, World’s second Largest dedicated Producer of Sodium
Carboxy Methyl Cellulose (32000 MT) - We, as Exclusive Distributor for India

BRAND

PRODUCT

PACKING

Kemsel

Sodium CMC 99.5% Purity
A – 200 to 500% CPS Viscosity
B – 800 to 1200% CPS Viscosity
C – 2000 to 3000% CPS Viscosity
D - % CPS Viscosity


25kg. Bag

 25kg. Bag

 25kg. Bag

 25kg. Bag

Sodium CMC – Different Custom made Viscosity, D. S., Particle size, etc. can offer on requests.
CMC – CarboxyMethylCellulose

M/s. BASF – USA/Germany - 150 years old, world’s No. 1 technology based producer
We, as Authorized Distributor in India

BRAND

PRODUCT

PACKING

Kollidon

K30 PVP K30 IP, BP, Ph.Eur, USP/NF, JP

50kg. Drum

Kollidon

K90 PVP K90 IP, BP, Ph.Eur, USP/NF, JP

25kg. Carton

Kollidon

CL Cross Linked PVP IP, BP, Ph.Eur, USP/NF, JP

40kg. Drum

Kollidon

VA64 IP, BP, Ph.Eur, USP/NF, JP

35kg. Drum

Kollicoat

MAE 100 P (=Eudragit L 100-55) IP, BP, Ph.Eur, USP/NF, JP

25kg. Cartoon

Kollicoat

MAE 30 P (=Eudragit L 30D) IP, BP, Ph.Eur, USP/NF, JP

25kg. Carbouy

Cremophor

Cremophor RH 40/60/EL IP, BP, Ph.Eur, USP/NF, JP

60kg. Drum

Lutrol

Lutrol F 127 / F68 IP, BP, Ph.Eur, USP/NF, JP

90kg. Drum

PVP – Polyvinyl Pyrollidone

M/s. Bolak Co. Ltd. - Korea

BRAND

PRODUCT

PACKING

Bolak

Ca-CMC USP/BP

10kg. Tin

Ca-CMC – Calcium CarboxyMethylCellulose

M/s. SPI Polyols – USA/France

BRAND

PRODUCT

PACKING

Mannogem

Mannitol Powder USP/BP

72.6kg Drum

M/s. The NutraSweet Company – USA
- Sweetener is sold in more than 100 countries and used in over 5,000 products.

BRAND

PRODUCT

PACKING

NutraSweet

Aspartame Powder USP 26/NF

1/25kg Drum

NutraSweet

L-Phenylalanine

25kg. Drum

NutraSweet

Neotame (8000 x Sugar) IP

250gms. P. container

M/s. Saputo Cheese g.p., Canada - We as Distributor for India

BRAND

PRODUCT

PACKING

Lactose

Lactose mesh 200 IP

25kg. Bag

M/s. Changshu Wanxing - China

BRAND

PRODUCT

PACKING

ALA

Alpha Lipoic Acid

10/25kg. Drum

M/s. Cabot Sanmar Ltd. – India – We are Authorized Distributor for T.N., Karnataka, Kerala.

BRAND

PRODUCT

PACKING

Cab-O-Sil

Cab-O-Sil M5

5kg. Bag

M/s. Nanhang Industrial Co., Ltd.

BRAND

PRODUCT

PACKING

Povidone

PVP K 30

 PVP K 30 USP 27/EP4

 PVP Iodine

 Crospovidone USP 27/EP4

 PVP K30 / K90 (Aqueous Solution)

VA73 E, VA64 E, VA64 (Powder), VA55 E, VA

 37 E

25kg. F. Drum

 50kg. F. Drum

 25kg. F. Drum

M/s. Nantong Feiyu Fine Chemicals Co., Ltd. – China

BRAND

PRODUCT

PACKING

Calcium Ca

Calcium Citrate USP 25/26

25kg F. Drum

M/s. Shandong Deosen Corporation - China, World’s II largest producer of XC

 

BRAND

PRODUCT

PACKING

Ziboxan

Xanthan Gum Pharma F80 FDA

25kg Box

OTHER PRODUCTS

ITEM NAME

PACKING

MANUFACTURER

Ichthammol CP 2000

20kg Tin

China

Mannitol Pyrogen Free USP/BP

25kg Bag

Bright Moon Seaweed - China

Beta cyclodextrin

10kg drawing

 

Calcium Dobesilate BP 2002

25 Kg Drum

China

Chloro Promozine HCL – BP 98

25 Kg

China

D-Biotin

25 Kg

China

Captopril

5 Kg

China

Tretonion

100 Gms

China

Piracetam

25 Kg Drum

China

Clavulanate Potassium + Avicel

2 Kg Bag

Mexico

Benfotiamine

5 Kg

Japan

Folic Acid

20 Kg Drum

China

Isotretinion

1 Kg

China

L-Phenylalanine

25kg. Drum

The NutraSweet Co, U.S.A

L – Arginine Base

25kg. Drum

Shin Star – China

L – Caritine – L-Tartarate

25 Kg

China

N-Acetyl – L-Cysteine USP 24

25 Kg Drum

China

N-Acetyl- L-Acetate

25 Kg Drum

China

 

 

 

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. 40.98

UK Pound

1

Rs. 80.98

Euro

1

Rs. 54.99

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

6

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILIRY

1~10

5

--LIQUIDITY

1~10

6

--LEVERAGE

1~10

5

--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

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

50

 

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

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions