MIRA
INFORM REPORT
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Report Date : |
16.06.2007 |
IDENTIFICATION DETAILS
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Name : |
COLT TECHNOLOGY SERVICES INDIA PRIVATE LIMITED |
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Registered Office : |
103, Ashoka Estate, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
01.04.2004 |
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Com. Reg. No.: |
55-125537 |
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CIN No.: [Company
Identification No.] |
U72900DL2004PTC125537 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
RTKC01390E |
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Legal Form : |
Private limited liability company. |
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Line of Business : |
Provider of data, voice and managed services to business
and government customers. |
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 730000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed company having satisfactory
track. Directors are reported as experienced and respectable businessmen. Trade
relations are reported as fair. Business is active. Payments are usually
correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
103, Ashoka Estate, |
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E-Mail : |
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Website : |
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Head Office : |
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DIRECTORS
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Name : |
Mr. Kenneth Starkey |
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Designation : |
Director |
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Address : |
Bridle Path, |
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Date of Appointment : |
01.04.2004 |
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Date of Ceasing : |
27.05.2005 |
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Name : |
Mr. Christopher Woodman |
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Designation : |
Director |
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Address : |
51, |
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Date of Appointment : |
01.04.2004 |
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Date of Ceasing : |
27.05.2005 |
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Name : |
Mr. Richard Adams |
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Designation : |
Director |
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Address : |
B – 11, Pushpangli Farm House, |
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Date of Appointment : |
01.04.2004 |
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Date of Ceasing : |
27.05.2005 |
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Name : |
Mr. Anshuman Kankan |
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Designation : |
Managing Director |
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Address : |
69 Akashneem Marg, |
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Date of Birth/Age : |
03.04.1961 |
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Date of Appointment : |
22.09.2004 |
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Name : |
Ms. Tanuja Randery |
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Designation : |
Director |
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Address : |
30 St. mary Abbott, |
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Date of Appointment : |
27.05.2005 |
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Name : |
Mr. Anoop Kumar Tawakley |
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Designation : |
Director |
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Address : |
T 14/7, DLF Qatab, Enclave Phase II, Gurgaon – 122002, |
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Date of Birth/Age : |
13.02.1960 |
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Date of Appointment : |
11.08.2005 |
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Name : |
Mr. Pankaj Malik |
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Designation : |
Director |
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Address : |
ZP 13, Maurya Enclave, Pitampura, |
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Date of Appointment : |
11.08.2005 |
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Name : |
Ms. Leena Chacko |
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Designation : |
Director |
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Address : |
Penninsula Chambers, Penninsula Corporate, Park Ganpatrao Kadam Marg,
Lower Parel, Mumbai, |
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Date of Appointment : |
01.04.2004 |
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Name : |
Mr. Dinesh M Prasad |
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Designation : |
Director |
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Address : |
30 ST, |
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Name : |
Mr. Paul Anthony Richman |
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Designation : |
Director |
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Address : |
Old Farm Cottage, |
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Date of Birth/Age : |
07.02.1959 |
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Date of Appointment : |
28.06.2006 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Colt Telecom |
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10 |
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4226490 |
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Total |
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4226500 |
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Equity Share
Breakup |
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Category |
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Percentage of
Holding |
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Foreign holdings [Foreign institutional investors, Foreign
Companies, Foreign Financial Institutions, Non-resident Indian or Overseas
corporate bodies or others] |
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100.00 % |
BUSINESS DETAILS
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Line of Business : |
Provider of data, voice and managed services to business
and government customers. |
GENERAL INFORMATION
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Bankers : |
Not Available |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Price Waterhouse Chartered Accountants |
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Address : |
P-1, Aditya Vihar, Saidula Jab, Opposite D Block, Saket – 110030, |
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Holding Company : |
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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25000000 |
Equity Shares |
Rs. 10/- each |
Rs. 250.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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4226500 |
Equity Shares |
Rs. 10/- each |
Rs. 42.265
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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42.265 |
42.265 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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142.130 |
36.988 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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184.395 |
79.253 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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256.399 |
110.989 |
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TOTAL BORROWING |
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256.399 |
110.989 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
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440.794 |
190.242 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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259.405 |
118.028 |
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Capital work-in-progress |
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0.175 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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7.092 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
0.000 |
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Sundry Debtors |
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301.140 |
134.425 |
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Cash & Bank Balances |
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31.704 |
37.361 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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33.673 |
14.436 |
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Total
Current Assets |
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366.517 |
186.222 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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179.449 |
112.900 |
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Provisions |
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12.946 |
1.108 |
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Total
Current Liabilities |
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192.395 |
114.008 |
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Net Current Assets |
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174.122 |
72.214 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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440.794 |
190.242 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover [Estimated] |
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700.000 |
350.000 |
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.43 |
2.84 |
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Current Ratio (Current Asset/Current Liability) |
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1.91 |
1.63 |
LOCAL AGENCY FURTHER INFORMATION
AS PER WEBSITE
COLT in
COLT identified
COLT is the leading provider of data, voice and managed services to
business and government customers in
COLT has received over 40 European and local awards over the years which
positively reflects on the performance of COLT's business. Including
Prestigious World Communication Award for customer service, three years in the
running. With the launch of its operations, the facility in
COLT's operations Based out of Gurgaon (NCR), Delhi, are an integral
service to COLT's European business, employing experienced professionals
performing back end operations in all business areas - Network Operations and
Engineering, IT, Service Provisioning, Sales and Marketing Support, HR and
Finance. It has leveraged the growing shared services sector and the buoyant IT
and Telecom sectors in
Technical customer support services, is one of the critical aspects of
COLT's business. With the launch of its operations,
Some Facts about COLT:
> COLT is the leading pan-European provider of business
communications services with over 10 years of growth.
> COLT offers a complete portfolio of end-to-end services including
voice, data and hosting solutions.
> COLT owns and manages an integrated 20,000 kilometer network that
connects 9000 buildings in 32 major cities in 13 countries with additional
points of presence around the world
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.97 |
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1 |
Rs.80.73 |
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Euro |
1 |
Rs.54.56 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
7 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
7 |
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--LEVERAGE |
1~10 |
7 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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51 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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