MIRA INFORM
REPORT
|
Report
Date : |
26.06.2007 |
IDENTIFICATION DETAILS
|
Name : |
KHS MACHINERY PRIVATE LIMITED |
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Registered
Office : |
53, Madhuban, Near |
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Country
: |
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Financials
(as on) : |
31.03.2006 |
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Com.
Reg. No.: |
04-32397 |
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Date
of Incorporation : |
26.05.1997 |
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CIN
No.: |
U29199GJ1997PTC032397 |
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Com.
Reg. No.: |
04-32397 |
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TAN
No.: (Tax
Deduction & Collection Account No.) |
AHMK00378A |
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|
Legal
Form : |
Private Limited Liability Company |
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Line
of Business : |
Manufacturers
and Sellers of Labeller, Filler and Paramix. |
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 600000 |
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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
|
Registered/Administrative
Office : |
53,
Madhuban, Near |
|
Tel.
No.: |
91-79-26442729/26440331/26443236 |
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Fax
No.: |
91-79-26421324 |
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E-Mail
: |
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Website
: |
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Factory
1 : |
Plot No.
14/16, GIDC, Phase – I, Vatva, Ahmedabad – 382445, |
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Tel.
No.: |
91-79-5832023/24/25 |
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Fax
No.: |
91-79-5832026 |
DIRECTORS
|
Name : |
Mr. N. Mahendra
Patel |
|
Designation
: |
Managing
Director |
|
Address
: |
15,
Kairavi Bunglows, Near Sarathi Hotel, Bodekdev, Ahmedabad – 380054, |
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Date
of Birth/Age : |
17.01.1949 |
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Qualification
: |
M.Sc
[Indl. Engg. and Admn.] from |
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Experience
: |
27 years |
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Date
of Appointment : |
26.05.1997 |
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|
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|
Name : |
Mr. |
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Designation
: |
Director |
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Address
: |
Auf Der
Bach 13, 64665 Alsbach, |
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Date
of Birth/Age : |
21.11.1954 |
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Date
of Appointment : |
26.05.1997 |
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|
|
|
Name : |
Mr. Till
Volkeer |
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Designation
: |
Director |
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Address
: |
Eichen
Dorfestr 17, 65719 Hofheim. |
|
Date
of Birth/Age : |
02.12.1940 |
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Date
of Appointment : |
24.10.2001 |
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|
|
|
Name : |
Mr. Gras
Rainer |
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Designation
: |
Director |
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Address
: |
AM, Sportplatz – 55545, Bad Kruznach |
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Date
of Appointment : |
24.10.2001 |
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|
|
|
Name : |
Mr.
Vogtland Heinz |
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Designation
: |
Director |
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Address
: |
An
Derkamnnsstruck 23, 58239, |
|
Date
of Appointment : |
01.05.2001 |
|
Name : |
Mr. R. Yatindra
Sharma |
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Designation
: |
Director |
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Address
: |
23,
Yogeshwar Bunglows, Opposite Kalindi Bunglows, Near Sola Overbridge,
Ahmedabad – 380054, Gujarat, India |
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Date
of Birth/Age : |
14.03.1955 |
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Date
of Appointment : |
01.05.2001 |
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|
|
|
Name : |
Mr. Petri Ulrich |
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Designation
: |
Director |
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Address
: |
Crispinstrabe – 5144229, |
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Date
of Birth/Age : |
29.12.1938 |
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Date
of Appointment : |
26.05.1997 |
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|
Name : |
Mr. Michl Manfred |
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Designation
: |
Director |
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Address
: |
Zum Frauenkope – 21, Altebamberg |
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Date
of Birth/Age : |
22.04.1947 |
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Date
of Appointment : |
26.05.1997 |
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|
|
|
Name : |
Mr. S Bhuller Gurcharan |
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Designation
: |
Director |
|
Address
: |
KBM Consulting Gmbh, Wetterau Str. 7 C- 63505 |
|
Date
of Birth/Age : |
2ND December, 1940 |
|
Date
of Appointment : |
26th May, 1997 |
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|
|
|
Name : |
Mr. Maternus Gemmel |
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Designation
: |
Director |
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Address
: |
Zur Rosenhecke, 13 A, Bad Kreuznach – 55545 |
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Date
of Birth/Age : |
25.11.1942 |
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Date
of Appointment : |
17.09.2004 |
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|
|
|
Name : |
Mr. Valentin Reisgen |
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Designation
: |
Director |
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Address
: |
Durestrabe S – 41466, |
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Date
of Birth/Age : |
25.11.1956 |
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Date
of Appointment : |
17.09.2004 |
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|
|
|
Name : |
Mr. Till Volker |
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Designation
: |
Director |
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Address
: |
Eichen
Dorfestr 17, 65719 Hofheim. |
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Date
of Appointment : |
18.07.2005 |
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|
|
|
Name : |
Mr. UDO Wilhelm Porsfeld |
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Designation
: |
Director |
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|
|
Name : |
Mr. Johann Grabenweger |
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Designation
: |
Director |
KEY
EXECUTIVES
|
Name : |
Mr. N
Raval Nikunj |
|
Designation
: |
Company
Secretary |
|
Tel.
No.: |
91-79-27456876/
30186542 |
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Mobile
No.: |
91-985383010 |
|
E-Mail |
MAJOR SHAREHOLDERS
|
Names of Shareholders |
No. of Shares |
|
Mr.
Mahendra N. Patel |
99990 |
|
Mr.
Nayana M Patel |
10 |
|
Mr.
Bhuller Gurcharan S |
100000 |
|
Mr. Kohli
Kevalkishan K |
100000 |
|
Mr.
Mamata Machinery |
50000 |
|
M/s. KHS
Maschinen |
600000 |
|
Mr.
Sharma Yatindra R |
50000 |
BUSINESS DETAILS
|
Line
of Business : |
Manufacturers
and Sellers of Labeller, Filler and Paramix. |
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|
|
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Products
: |
Labeler – 8422 Filifr – 8422 Paramix - 8422 |
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Export:
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Imports
from : |
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Terms
: |
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Purchasing : |
L/C [60/90 days] terms |
GENERAL INFORMATION
|
Suppliers
: |
v
Schelemkas Enterprises Inc., v
KHS Maschinen Und Anlagenbau AG, v
|
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|
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No. of
Employees : |
50 |
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|
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Bankers
: |
v
State Bank of v
Standard Chartered Grindlays Bank, v
HDFC Bank Limited, Navrangpura Branch, Ahmedabad – 380009, |
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Banking Relations : |
Satisfactory |
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Auditors
: |
Dinesh R.
Shah and Company Chartered
Accountants |
|
Address: |
51,
Madhuban, Near Madalpur Under Bridge, Ellisbridge, Ahmedabad – 380006, |
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|
|
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Associates/Subsidiaries
: |
v
Mamata Brampton Engineering Private Limited v
Mamata Solar Private Limited v
Mamata Ariwings Private Limited v
KHS Machinery Private Limited v
Klockner Desma Machinery Private Limited v
Ferromatic Milaeron India Limited v
SourcePro Infotech Private Limited v
Mamata Marketing Services v
Win Engineering Private Limited v
Darling Muesco India Private Limited v
Saturn Travels v
Mukti Trust v
KHS Machinen Aniogenbou v
Mamta Machinery Private Limited v
KHS Industrial Maquians |
CAPITAL STRUCTURE
Authorised
Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
5000000 |
Equity
Shares |
Rs.10/- each |
Rs. 50.000 millions |
Issued,
Subscribed & Paid-up Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
1000000 |
Equity
Shares |
Rs.10/- each |
Rs. 10.000 millions |
FINANCIAL
DATA
[all
figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
|
SHAREHOLDERS
FUNDS |
|
|
|
|
|
1] Share
Capital |
10.000 |
10.000 |
10.000 |
|
|
2] Share
Application Money |
0.000 |
0.000 |
0.000 |
|
|
3]
Reserves & Surplus |
143.084 |
120.410 |
116.893 |
|
|
4]
(Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
NETWORTH
|
153.084 |
130.410 |
126.893 |
|
|
LOAN
FUNDS |
|
|
|
|
|
1]
Secured Loans |
0.290 |
28.298 |
6.842 |
|
|
2]
Unsecured Loans |
103.876 |
0.000 |
0.000 |
|
TOTAL
BORROWING
|
104.166 |
28.298 |
6.842 |
|
|
DEFERRED
TAX LIABILITIES |
5.173 |
7.895 |
7.360 |
|
|
|
|
|
|
|
TOTAL
|
262.423 |
166.603 |
141.095 |
|
|
|
|
|
|
|
APPLICATION OF FUNDS
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block]
|
67.990 |
48.682 |
51.256 |
|
Capital work-in-progress
|
56.469 |
0.000 |
0.000 |
|
|
|
|
|
|
|
INVESTMENT
|
0.000 |
0.000 |
0.000 |
|
DEFERREX TAX ASSETS
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES
|
|
|
|
|
|
|
Inventories
|
215.473
|
251.277
|
215.799 |
|
|
Sundry Debtors
|
43.900
|
25.372
|
30.432 |
|
|
Cash & Bank Balances
|
73.007
|
87.592
|
181.488 |
|
|
Other Current Assets
|
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances
|
14.328
|
36.150
|
25.659 |
Total Current Assets
|
346.708
|
400.391
|
453.378 |
|
Less : CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Current Liabilities
|
180.452
|
268.754
|
352.258 |
|
|
Provisions
|
28.292
|
13.716
|
11.281 |
Total Current Liabilities
|
208.744
|
282.470
|
363.539 |
|
Net
Current Assets
|
137.964
|
117.921
|
89.839 |
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
TOTAL
|
262.423 |
166.603 |
141.095 |
|
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
Sales Turnover [including other income]
|
NA |
398.183 |
563.542 |
|
|
|
|
|
Profit/(Loss) Before Tax
|
97.597 |
30.207 |
77.392 |
Provision for Taxation
|
0.000 |
15.288 |
17.402 |
Profit/(Loss) After Tax
|
97.597 |
14.919 |
59.990 |
|
|
|
|
|
Export Value
|
85.049 |
116.515 |
NA |
|
|
|
|
|
Import Value
|
34.086 |
70.267 |
107.445 |
|
|
|
|
|
Total Expenditure
|
NA |
367.975 |
486.149 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
PAT / Total Income
|
(%)
|
NA |
3.74
|
10.64 |
|
|
|
|
|
|
Net Profit Margin
(PBT/Sales) |
(%) |
NA |
7.58
|
13.73 |
|
|
|
|
|
|
Return on Total Assets
(PBT/Total
Assets} |
(%) |
23.53 |
6.72
|
15.33 |
|
|
|
|
|
|
Return on Investment (ROI)
(PBT/Networth) |
|
0.64 |
0.23
|
0.60 |
|
|
|
|
|
|
Debt Equity Ratio
(Total
Liability/Networth) |
|
2.04 |
2.38
|
2.91 |
|
|
|
|
|
|
Current Ratio
(Current
Asset/Current Liability) |
|
1.66 |
1.41
|
1.24 |
LOCAL AGENCY FURTHER
INFORMATION
Year in Retrospect:
Soft drink market grew
with significant market constraints major reason for down side in the growth
was controversy of pesticide content in soft drink severe Government controls
have been imposed an cala majors in terms of stricter quality standards. Due to
this very reason there were no major investments in this segment for the year in
consideration. Despite above market growth constraints the company had
broadened its market in local beer segment and export to
Future business plans are
giving desired results. In future the company will have a strong local presence
in soft drinks, Juices, Beer and Water market. Export development efforts will
give significantly large share of business in future. Business outlook for near
future looks promising with good growth.
Technology Absorption
The company had entered
into an international technical Know – how License Agreement with M/s. KHS
Maschinen Und Anlagenbau AG,
Fixed Assets:
v
Plant &
Machinery
v
Computer
v
Furniture &
Fixture
v
Vehicles
v
Office Equipment
The
company has technical and financial collaboration with :
Ø
KHS
Machinen – Und Anblagenbau AG,
-
For
manufacturing and marketing of complete bottling lines in
Ø
KHS
Anker Maschinebau
-
For
manufacturing and marketing of Labelling Machines in
Indian
Market showed steep slow down – due to adverse fiscal position as well as the
September 11, attach on WTC, etc.
It utilises
about 65% imported raw materials in its manufacturing process and 59% imported
spares for trading.
Sales were
reduced mainly due to the continuous riots in the city during the period under
report.
It foresee
difference in market trend. Good
response in Labelling Applications, Filling Solutions, Spirals and Filtering
appliances, for pharmaceuticals, Beer and Chemical Industry.
The group
has collaboration with :
Ø
Schelenkas
Enterprises Inc.,
Ø
Cincinnati
Milacron Inc.,
Ø
Pure
Pack Inc.,
Ø
Hibar
Systems,
Ø
Alsan
Technologies,
Ø
Ø
KHB
Investment Holdings S.A., Luxumberg
The group
company took part in exhibition for their machines in K – 2001 held in
Form 8 Particular for creation or
modification of charges
|
Name of the Company |
KHS MACHINERY PRIVATE LIMITED |
|
Presented By |
Mr. Mahendra N Patel |
|
|
|
|
1) Date and description of instrument creating the change |
General Agreement for the grant of small industries
advance and Hypothecation of Movables, Book Debts and other assets dated 18.12.2001 |
|
2) Amount secured by the charge/amount owing on the
securities of charge |
Rs. 1.000 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 present and future goods, book
debts movable and other assets of the
Borrower including document of the title to goods and other assets such as
outstanding moneys, contract, engagement, Securities investment and rights
and the present machinery and all future machinery. Borrower or of the bank
or any 3rd party whether in Facility Guarantee – Rs. 1.000 Millions |
|
4) Gist of the terms and conditions and extent and
operation of the charge. |
Hypothecation by way of first charge of all present and
future goods, Book debts movable and other assets and machinery Margin – 10% Tenure – 12 Months |
|
5) Name and Address and description of the person entitled
to the charge. |
State Bank of |
|
6) Date and brief
description of instrument modifying the charge |
NA |
|
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. |
NA |
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.40.95 |
|
|
1 |
Rs.81.80 |
|
Euro |
1 |
Rs.55.09 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP
CAPITAL |
1~10 |
5 |
|
OPERATING
SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS
SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT
LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT
POINTS |
|
|
|
--BANK
CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER
ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT
POINTS |
|
|
|
--SOLE
DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT
ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER
MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
This
score serves as a reference to assess SC’s credit risk and to set the amount of
credit to be extended. It is calculated from a composite of weighted scores
obtained from each of the major sections of this report. The assessed factors
and their relative weights (as indicated through %) are as follows:
Financial condition (40%) Ownership background
(20%) Payment record (10%)
Credit history (10%) Market trend (10%) Operational size
(10%)
RATING
|
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 |