MIRA INFORM REPORT
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Report Date : |
12.06.2007 |
IDENTIFICATION
DETAILS
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Name : |
GOMA
ENGINEERING PRIVATE LIMITED |
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Registered Office : |
L B S
Marg, Majiwade, Thane(West), Mumbai - 4000601, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
23.06.1982 |
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Com. Reg. No.: |
11-27510 |
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CIN No.: [Company Identification No.] |
U28920MH1982PTC027510 |
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TAN No.: [Tax Deduction & Collection Account
No.] |
PNEG05217C |
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PAN No.: [Permanent Account No.] |
AABCG1059K |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
The
Company is engaged in the business of Designing, Manufacturing and Execution
of Turnkey Projects in Milk related products |
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
74000 |
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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 records.
Trade relations are fair. Payments are correct and as per commitments. The
company is doing well. It can
be considered good for normal business
dealings at usual trade terms and conditions |
LOCATIONS
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Registered Office : |
L B |
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Tel. No.: |
91-25340875 |
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Fax No.: |
91-25333634 |
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E-Mail : |
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Website: |
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Head
Office : |
Behind
Universal Petrol Pump, Off. L.B.S. Marg, Majiwada, Thane – 400601 (Mumbai), |
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Tel.
No.: |
91-2225346436
/ 2225340875 / 2225341438 / 2225341937 |
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Fax
No.: |
91-22-5333634 |
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E-Mail
: |
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Factory
: |
214/2,
Khupari, Off. |
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Eastern
Region [Kolkata] Branch: |
M/s.
Ceefor Corporation 154, |
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Mobile
No.: |
91-9331078487 |
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E-Mail: |
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Contact person: |
Mr.
Shekar N. Chakraborty |
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Southern
Region [ |
Number
540, 1st |
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Tel.
No.: |
91-80-25701525 |
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Mobile
No.: |
91-9341002939 |
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E-Mail: |
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Contact person: |
Mr. V.
G. Sankaran |
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Southern
Region [Chennai] Branch: |
H –
41/B, |
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Mobile
No.: |
91-9381056816 |
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E-Mail: |
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Contact person: |
Mr. S.
Rajkumar |
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Northern
Region [ |
Vasant
Vihar, 14, Palam Marg, Opp. Malai Mandir, |
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Tel.
No.: |
91-9313406465 |
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E-Mail: |
91-11-26147101 |
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Contact person: |
Mr. A.
Minhas |
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E-Mail
: |
DIRECTORS
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Name : |
Mr.
Maru Maganlal Laxmanbhai |
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Designation : |
Chairman |
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Address : |
7/1002,
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Date of Birth/Age : |
14.02.1937 |
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Date of Appointment : |
26.06.1982 |
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Name : |
Mr.
Gosrani Keshavji Meghji |
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Designation : |
Managing
Director |
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Address : |
11/12,
Kashima Appartments, 4th Floor, Mani Baug, L.B. Marg, Thane –
400602 |
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Date of Birth/Age : |
16.09.1940 |
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Date of Appointment : |
26.06.1982 |
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Name : |
Mr.
Gosrani Jayesh Keshavji |
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Designation : |
Director |
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Address : |
601/602,
Sita Vihar Co-operative Society, Near Damani Estate, LBS Marg, Thane – 400602 |
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Date of Birth/Age : |
28.11.1965 |
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Date of Appointment : |
01.04.1995 |
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Name : |
Mr.
Gosrani Chetan Meghaji |
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Designation : |
Director |
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Address : |
11/12,
Kashima Appartments, 4th Floor, Mani Baug, L.B. Marg, Thane –
400602 |
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Date of Birth/Age : |
17.02.1972 |
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Date of Appointment : |
01.04.2000 |
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Name : |
Mr.
Gosrani Mohanlal Liladhar |
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Designation : |
Director |
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Address : |
8/A,
Vandan Cooperative Society Limited, L.B. Marg, Thane - 400602 |
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Date of Birth/Age : |
14.06.1947 |
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Date of Appointment : |
01.11.1983 |
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Name : |
Mr.
Maru Kantilal Veljibhai |
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Designation : |
Director |
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Address : |
A2/601,
Vikas Complex, LBS Marg, Thane – 400601 |
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Date of Birth/Age : |
15.12.1951 |
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Date of Appointment : |
01.11.1983 |
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Name : |
Mr.
Maru Bhavesh Maganlal |
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Designation : |
Director |
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Address : |
7/1002,
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Date of Birth/Age : |
20.09.1969 |
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Date of Appointment : |
01.04.1995 |
KEY
EXECUTIVES
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Name
: |
Mr.
Nitin R. Joshi |
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Designation
: |
Company
Secretary |
MAJOR
SHAREHOLDERS
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Names
of Shareholders |
No. of Shares |
Percentage of Holding |
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Mr. K.
M. Gosrani |
2139 |
6.11 |
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Mr. K.
M. Gosrani HUF |
50 |
0.14 |
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Mrs.
Manjulaben K. Gosrani |
1480 |
4.23 |
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Mr.
Jayesh K. Gosrani |
3920 |
11.20 |
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Mr. Jayesh
K. Gosrani HUF |
428 |
1.22 |
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Mrs.
Seema J. Gosrani |
1810 |
5.17 |
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Mr.
Deepen K. Gosrani |
540 |
1.54 |
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Mr.
Chetan K. Gosrani |
3106 |
8.87 |
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Mr.
Chetan K. Gosrani HUF |
19 |
0.05 |
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Mrs.
Bijal C. Gosrani |
946 |
2.70 |
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Mr.
Mohanlal L. Gosrani |
1333 |
3.81 |
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Mr.
Mohanlal L. Gosrani HUF |
1 |
0.00 |
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Mrs.
Nirmalaben M. Gosrani |
1328 |
3.79 |
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Mrs.
Deepa R. Haria |
100 |
0.29 |
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Mrs.
Bhairavi S. Karaniya |
100 |
0.29 |
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Mrs.
Priya M. Shah |
100 |
0.29 |
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Mrs.
Neha K. Gada |
100 |
0.29 |
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Mr. Maganlal
L. Maru |
2901 |
8.29 |
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Mrs.
Kanchanben M. Maru |
2385 |
6.81 |
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Mr.
Prashant M. Maru |
2673 |
7.64 |
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Mrs.
Kunjal P. Maru |
1 |
0.00 |
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Mr.
Bhavesh M. Maru |
2950 |
8.43 |
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Mr.
Kantilal V. Maru |
3773 |
10.78 |
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Mrs.
Premlataben K. maru |
500 |
1.43 |
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Mr.
Mehul K. Maru |
1 |
0.00 |
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Mr.
Pravin V. maru |
600 |
1.71 |
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Mrs.
Shobanaben P. Maru |
750 |
2.14 |
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Mr.
Manilal J. Shah |
961 |
2.74 |
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Mrs.
Sarlaben M. Shah |
2 |
0.00 |
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Total |
35000 |
100.00 |
All the
shares are held by directors or their relatives.
BUSINESS
DETAILS
|
Line of Business : |
The
Company is engaged in the business of Designing, Manufacturing and Execution
of Turnkey Projects in Milk related products |
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Products : |
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Exports to: |
The Company Exports Homogeniser to |
PRODUCTION
STATUS
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Particulars |
Unit |
Licensed Capacity |
Installed Capacity |
Actual Production |
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Pumps |
Numbers |
----- |
----- |
45 |
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Homogenisers |
Numbers |
----- |
----- |
33 |
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Dairy Plant |
Numbers |
----- |
----- |
NIL |
GENERAL
INFORMATION
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No. of Employees : |
About 150 |
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Bankers : |
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Facilities : |
Secured
Loans from ICICI Bank |
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Banking Relations : |
Satisfactory |
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Auditors : |
Mr.
Pradip K. Shah Chartered
Accountants |
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Tel. No.: |
B / 504,
Ambika Apartments, 90, |
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Tel. No.: |
91-22-906537 |
CAPITAL
STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
500000 |
Equity
Shares |
Rs 10/- each |
Rs 5.000 Millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
35000 |
Equity
Shares |
Rs 100/- each |
Rs 3.500 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 |
3.500 |
3.500 |
3.500 |
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2] Share Application Money |
0.000 |
0.000 |
---- |
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3] Reserves & Surplus |
15.112 |
10.705 |
8.170 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
----- |
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NETWORTH |
18.612 |
14.205 |
11.670 |
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LOAN FUNDS |
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1] Secured Loans |
1.982 |
1.732 |
0.387 |
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2] Unsecured Loans |
32.248 |
25.756 |
23.123 |
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TOTAL BORROWING |
34.230 |
27.488 |
23.510 |
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DEFERRED TAX LIABILITIES |
0.971 |
0.852 |
0.766 |
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TOTAL |
53.813 |
42.545 |
35.946 |
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APPLICATION
OF FUNDS |
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FIXED ASSETS
[Net Block] |
16.026 |
13.182 |
11.530 |
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Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
4.097 |
2.005 |
1.916 |
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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 |
25.771
|
22.070 |
14.575 |
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Sundry
Debtors |
29.112
|
19.880 |
16.316 |
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Cash
& Bank Balances |
7.831
|
7.618 |
7.682 |
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Other
Current Assets |
0.029
|
0.044 |
0.000 |
|
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Loans
& Advances |
14.180
|
8.001 |
5.181 |
|
Total Current
Assets |
76.923
|
57.613 |
43.754 |
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Less : CURRENT LIABILITIES &
PROVISIONS |
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Current Liabilities |
36.078
|
25.629 |
21.313 |
|
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Provisions |
7.155
|
4.626 |
0.000 |
|
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Total Current
Liabilities |
43.233
|
30.255 |
21.313 |
|
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Net Current Assets |
33.690
|
27.358 |
22.441 |
|
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MISCELLANEOUS
EXPENSES |
0.000 |
0.000 |
0.059 |
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TOTAL |
53.813 |
42.545 |
35.946 |
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PROFIT & LOSS ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Sales
Turnover [including other income] |
116.738 |
81.653 |
86.921 |
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|
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Profit/(Loss) Before Tax |
-- |
5.822 |
4.807 |
|
Provision for Taxation |
-- |
2.100 |
1.838 |
|
Profit/(Loss) After Tax |
7.164 |
3.722 |
2.969 |
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|
Export Value |
0.000 |
N.A. |
Euro 0.059 USD 0.145 |
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Import Value |
0.000 |
N.A. |
4.176 |
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Total Expenditure |
109.574 |
39.751 |
---- |
KEY RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
PAT /
Total Income |
(%) |
6.14
|
4.56
|
3.41 |
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|
Net Profit Margin (PBT/Sales) |
(%) |
6.14
|
7.13
|
5.53 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
7.38
|
8.22
|
8.69 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.38
|
0.41
|
0.41 |
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Debt Equity Ratio (Total Liability/Networth) |
|
4.16
|
4.06
|
3.84 |
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|
Current Ratio (Current Asset/Current Liability) |
|
1.78
|
1.90
|
2.05 |
LOCAL
AGENCY FURTHER INFORMATION
Property
- Buildings
- Xerox Machine
- Motor Car
- Land
- Plant and Machinery
- Computers
- Furniture and Fixtures
Website Details :
Dairy
Subject is a company
started in 1982, is involved in designing, manufacturing & marketing of
Food & Beverages Equipment viz. Homogeniser, Pasteuriser, Crate Cleaning
Equipment, Sanitary Pumps, Cup Filling & Sealing Machine, Skid Mounted
Process Modules and also undertakes Dairy, Ice Cream, Food & Beverages
Projects on turnkey basis.
Subject started its operation by manufacturing High Pressure Reciprocating
Pumps for Industrial cleaning. In the year 1991, it developed
After the success of
manufacturing Homogeniser indigenously Goma has expanded its range by
manufacturing HTST Pasteuriser in technical collaboration with foreign
companies. Goma also has a range of Dairy equipments like Butter churn,
Sanitary Pumps, Storage Tanks, Batch Tanks, Ageing Vats and Cream Separators.
(for more click Pasteurisers).
The company undertakes
Dairy Projects from 100 Litres per Day (LPD) to 1,00,000 LPD on a Turn-Key
basis. Projects for manufacturing of Ice-Cream, Butter, Cheese, Ghee, Yogurt,
Flavoured Milk are also taken.
INFRASTRUCTURE
The Company is head-quartered at Thane (30 Kms from Mumbai) having over 3000
sq. feet of administrative office and over 3500 sq. feet of warehousing
facilities for spares. The manufacturing facilities at Wada (approx. 50 Kms
from Thane) is spread over an area of over 5 acres. The factory is equipped
with modern facilities for Manufacturing, Fabrication, Machining, Assembly,
Painting, Testing, and Warehousing.
Subject’s after sales
service is backed by well-trained engineers & technocrats and is one of the
best in the industry having quick response time, thereby reducing downtime to
minimal at the customers end. Subject is now an ISO 9001 certified Company.
Subject has regional
offices for sales & service at
Subject is headed by
Mr.M.L.Maru (Chairman) & Mr.K. M.Gosrani (M.D) who have a vast experience
of over 45 years in the industry. The company is supported by Dr.J.V.Parekh - a
leading Dairy Technologist in
KEY CONTACT PERSONS ( Dairy & Food Engineering Division)
Mr. Jayesh K Gosrani : Joint Managing Director
Mr. Srinivas Sondur :
Manager – Marketing
Mr. Amol Maind : Deputy
Manager - Marketing
Pumps
They at subject since
1982, are specialised in designing and manufacturing - marketing, High Pressure
reciprocating Pump & Accessories for Cleaning, Cutting, Removing,
Descaling, Testing, Spraying, Reverse Osmosis, Liquid Transfer. GOMA has
supplied over 1000 High Pressure Pump Units all over
Subject manufactures a wide range (over 100 models) of High pressure pumps to
choose from, each suited for exact customer requirement. The present
High Pressure Pumps on Hire / Contract
GOMA also gives High Pressure Pumps on Contract / Hire basis along with
operating crew at very competitive rates. The services of hydrojetting can be
made available on a short notice and for day/night continuous working. It has a
fleet of pumps giving pressures upto 15,000 PSI along with accessories. The
company also undertakes annual rate contracts for hydrojetting.
International Participation
Subject represented
High Pressure Pumps Applications
The High Pressure Pumps are most versatile for effective cleaning in almost
industries viz. Automobile, Cement, Power Plants, Petrochemical / Petroleum,
Chemicals, Iron & Steel, Heavy Engineering, Paper plants etc.
INFRASTRUCTURE
The Company is head-quartered at Thane (30 Kms from Mumbai) having over 3000
sq. feet of administrative office and over 3500 sq. feet of warehousing
facilities for spares. The manufacturing facilities at Wada (approx. 40 Kms
from Thane) is spread over an area of over 5 acres. The factory is equipped
with modern facilities for Manufacturing, Fabrication, Machining, Assembly,
Painting, Testing, and Warehousing.
Subject’s after sales
service is backed by well-trained engineers and is one of the best in the
industry having quick response time, thereby, reducing downtime to minimal at
the customers end. Goma is now an ISO 9001 Company.
They have branches in
Bangalore & Chennai (Southern Region) and Kolkata (Eastern Region) &
Subject is headed by
Mr. M. L. Maru (Chairman)
& Mr. K. M. Gosrani (M.D), who have a vast experience of over 30 years in
the industry. It has a dedicated team of 100 qualified and self motivated
workforce in different departments of administration, design, R&D,
marketing, manufacturing, dispatch, quality control, installation &
commissioning and after sales servicing.
KEY CONTACT
PERSONS ( High Pressure Pumps & Systems Division)
Mr. Chetan Gosrani : Executive Director
Mr. Arvind Kausadikar:
Manager – Marketing
Form 8 Particular for creation or
modification of charges
|
Name
of the company |
GOMA
ENGINEERING PRIVATE LIMITED |
|
Presented By |
MR.
KESHAVJI M. GOSRANI (DIRECTOR) |
|
1)
Date and description of instrument creating the change |
1]
Loan / Cash Credit agreement 2]
Hypothecation of tangible movable machinery and plant 3]
Hypothecation agreement 4] Charge
and Hypothecation of book debts (all
the documents dated 29.06.2000 constitute single charge) |
|
2)
Amount secured by the charge/amount owing on the securities of charge |
Rs
5.500 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 |
Hypothecation
of all stocks, Book Debts, Plant and Machinery by way of Prime security. Supplementary
mortgage of factory premises at Wada and Office premises at thane by way of
collateral security. Working
capital i.e. cash credit limit for 12 months plus interest payable at 17.50
%p.a. Charge
to cover all outstanding sums, interests, costs and charges payable by the
company to the bank. |
|
4)
Gist of the terms and conditions and extent and operation of the charge. |
Working
capital i.e. cash credit limit for 12 months plus interest payable at 17.50%
pa. |
|
5)
Name and Address and description of the person entitled to the charge. |
The
Thane Janata Sahakari Bank Limited Anant
Laxmi Chambers, Naupada, Thane(West) - 400602 |
|
6)
Date and brief description of
instrument modifying the charge |
Record
of mortgage by deposit of title deeds dated |
|
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. |
FIRST MODIFICATION Charge
is modified on account of enhancement in Cash Credit facility by Rs 0.500
Millions thereby taking total Cash Credit facility limit from Rs 5.500
millions to Rs. 6.000 millions Charge
is secured by hypothecation of present and future stocks of raw materials,
work in progress, finished goods, consumable stores and spares referred as
“the said goods” and also book debts, outstanding decrees, money receivable,
claims and bills referred to as “the said receivables” and also movable plant
and machinery, machinery spares and accessories referred to as “the said
plant and machinery” which are collectively referred to as “the securities”
in the hypothecation agreement. Interest
payable at 1.50%p.a. over bank’s PLR subject to minium of 14.50% p.a. with
monthly rests. Penal
Interest I 2%p.a. in case of defaults, Margin
– 30 % Period-
120Moths Charges
to cover all outstanding sums, interests, costs and charges payable by the
company to the bank. SECOND(PRESENT) MODIFICATION Charge
is modified on account of provision of collateral
security as being “Unit 16”, 1st Floor, Village Majiwade,
Thane and Plot of land admeasuring 5 acres out of Gut No. 214, Village
Khupri, Taluka Wada, District Thane alongwith structures more particularly
specified in schedule I and III respectively. |
|
Name
of the company |
GOMA
ENGINEERING PRIVATE LIMITED |
|
Presented By |
MR.
KESHAVJI M. GOSRANI (DIRECTOR) |
|
1)
Date and description of instrument creating the change |
1]
Loan / Cash Credit agreement 2] Hypothecation
of tangible movable machinery and plant 3]
Hypothecation agreement 4]
Charge and Hypothecation of book debts (all
the documents dated 29.06.2000 constitute single charge) |
|
2)
Amount secured by the charge/amount owing on the securities of charge |
Rs
5.500 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 |
Hypothecation
of all Stocks, Book Debts, Plant and Machinery by way of Prime security. Supplementary
mortgage of factory premises at Wada and Office premises at thane by way of
collateral security. Working
capital i.e. cash credit limit for 12 months plus interest payable at 17.50
%p.a. Charge
to cover all outstanding sums, interests, costs and charges payable by the
company to the bank. |
|
4)
Gist of the terms and conditions and extent and operation of the charge. |
----- |
|
5)
Name and Address and description of the person entitled to the charge. |
The
Thane Janata Sahakari Bank Limited Anant
Laxmi Chambers, Naupada, Thane(West) - 400602 |
|
6)
Date and brief description of
instrument modifying the charge |
1]
Loan Agreement 2]
Hypothecation of Goods and Book Debts 3] Hypothecation
of Goods, Plant and Machinery and Debts (All
the documents dated |
|
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. |
FIRST MODIFICATION Charge
is modified on account of enhancement in Cash Credit facility by Rs 0.500
Millions thereby taking total Cash Credit facility limit from Rs 5.500
millions to Rs. 6.000 millions Charge
is secured by hypothecation of present and future stocks of raw materials,
work in progress, finished goods, consumable stores and spares referred as
“the said goods” and also book debts, outstanding decrees, money receivable,
claims and bills referred to as “the said receivables” and also movable plant
and machinery, machinery spares and accessories referred to as “the said
plant and machinery” which are collectively referred to as “the securities”
in the hypothecation agreement. Interest
payable at 1.50%p.a. over bank’s PLR subject to minimum of 14.50% p.a. with
monthly rests. Penal
Interest I 2%p.a. in case of defaults, Margin
– 30 % Period-
120Moths Charges
to cover all outstanding sums, interests, costs and charges payable by the company
to the bank. |
|
Name
of the company |
GOMA
ENGINEERING PRIVATE LIMITED |
|
Presented By |
MR.
JAYESH K. GOSRANI (DIRECTOR) |
|
1)
Date and description of instrument creating the change |
1]
Loan / Cash Credit agreement 2] Hypothecation
of tangible movable machinery and plant 3]
Hypothecation agreement 4]
Charge and Hypothecation of book debts (all
the documents dated 29.06.2000 constitute single charge) |
|
2) Amount
secured by the charge/amount owing on the securities of charge |
Rs
5.500 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 |
Hypothecation
of all stocks, Book Debts, Plant and Machinery by way of Prime security. Supplementary
mortgage of factory premises at Wada and Office premises at thane by way of
collateral security. |
|
4)
Gist of the terms and conditions and extent and operation of the charge. |
Working
capital i.e. cash credit limit for 12 months plus interest payable at 17.50
%p.a. Charge
to cover all outstanding sums, interests, costs and charges payable by the
company to the bank. |
|
5) Name
and Address and description of the person entitled to the charge. |
The
Thane Janata Sahakari Bank Limited Anant
Laxmi Chambers, Naupada, Thane(West) - 400602 |
|
6)
Date and brief description of
instrument modifying the charge |
1]
Loan agreement 2]
Hypothecation of goods and book debts 3]
Hypothecation of goods, plant and machinery and debts (all
the documents dated 17.09.2005 constitute single charge) |
|
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. |
FIRST MODIFICATION Charge
is modified on account of enhancement in Cash Credit facility by Rs 0.500
Millions thereby taking total Cash Credit facility limit from Rs 5.500
millions to Rs. 6.000 millions Charge
is secured by hypothecation of present and future stocks of raw materials,
work in progress, finished goods, consumable stores and spares referred as “the
said goods” and also book debts, outstanding decrees, money receivable,
claims and bills referred to as “the said receivables” and also movable plant
and machinery, machinery spares and accessories referred to as “the said
plant and machinery” which are collectively referred to as “the securities”
in the hypothecation agreement. Interest
payable at 1.50%p.a. over bank’s PLR subject to minimum of 14.50% p.a. with
monthly rests. Penal
Interest I 2%p.a. in case of defaults, Margin
– 30 % Period-
12 Moths Charges
to cover all outstanding sums, interests, costs and charges payable by the
company to the bank. |
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.40.91 |
|
|
1 |
Rs.80.46 |
|
Euro |
1 |
Rs.54.60 |
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 |
YES |
|
--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 |
|
NR |
In view
of the lack of information, we have no basis upon which to recommend credit
dealings |
No Rating |
|