MIRA INFORM REPORT
|
Report
Date : |
01.03.2007 |
IDENTIFICATION
DETAILS
|
Name : |
SPECTRAL
DIAGNOSTICS PRIVATE LIMITED |
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|
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Registered
Office : |
501-502, and 505-506,
Vikas Deep Building, 189 Laxmi Nagar, District Centre, New Delhi – 110
092, India |
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Country
: |
India |
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Financials
(as on) : |
31.03.2000 |
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Date
of Incorporation : |
06.06.1995 |
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CIN
No.: |
U74899DL1995PTC069456 |
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Com.
Reg. No.: |
55-69456 |
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TAN
No.: (Tax
Deduction & Collection Account No.) |
DELS10510D |
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PAN
No.: (Permanent
Account No.) |
AABCS2425D |
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Legal
Form : |
Private Limited Liability Company |
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Line
of Business : |
Importers, Distributors and Suppliers of Medical
Diagnostic Reagants, Laboratory Equipments and Immuno Chromatographic Tests
(ICT) Equipments. |
RATING & COMMENTS
|
MIRA’s
Rating : |
C |
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists.
Caution needed to be exercised |
Credit not recommended |
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Maximum
Credit Limit : |
-- |
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Status
: |
Defunct
Company |
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Payment
Behaviour : |
Unknown |
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Litigation
: |
Unknown |
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Comments
: |
The company is poor in corporate governance as its last
financials filed with Registry is for 2000. In absence of latest financials
and business details, it would be difficult to assess company’s performance and
financial status. Hence, in view of the aforesaid, it would be advisable to
deal with the company on fully safe and secured trade terms and conditions,
only. |
LOCATIONS
|
Registered/Head
Office : |
501-502,
and 505-506, Vikas Deep Building, 189
Laxmi Nagar, District Centre, New Delhi – 110 092, India |
|
Tel.
No.: |
91-11-22375537/ 22376768/ 22463562/ 22463658 / 22440730 /
22440731 |
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Fax
No.: |
91-11-22464008 |
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E-Mail
: |
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Website
: |
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Location : |
Commercial |
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Regional
Office : |
J.P.Greenland
Apartments, C-1, 3rd Floor, 5th Street Nandan Extension Chennai-600035,
Tamilnadu, India 601,Exclusive
Apartments, Opp. IIT Gate Powai, Mumbai – 400076, Maharashtra, India No.TF-6,
137 Business Point, Brigade Road, Bangalore – 560025, Karnataka, India Tel No. : 91-80-41127969 |
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Mailing Address |
P.O.Box # 9241, Delhi – 110092, India |
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Distributors & Sub-Reseller Network : |
NORTH INDIA - Jammu & Kashmir EAST INDIA - Jharkand– Steel Plant-Bokaro,
Ranchi, Dhanbad WEST INDIA - Gujrat– Surat, Kutch, Ahmedabad, Baroda, Rajkot SOUTH INDIA - Karnataka- Bangalore, Mysore,
Mangalore, Gulbarga |
DIRECTORS
|
Name : |
Mr. Sulekha Chawla |
|
Designation
: |
Director |
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Date
of Appointment : |
23.09.1995 |
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|
|
|
Name : |
Ms. Krishna Chawla |
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Designation
: |
Additional Director |
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Date
of Appointment : |
25.11.2002 |
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|
|
|
Name : |
Mr. Shiv Dayal Chawla |
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Designation
: |
Additional Director |
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Date
of Appointment : |
10.02.2003 |
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|
|
|
Name : |
Mr. Anil Chawla S/O S D Chawla |
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Designation
: |
Director |
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Address:
|
189, Surya Niketan, New Delhi – 110092 |
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|
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|
Name : |
Mr. Rakesh Kumar Sing Jaswal |
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Designation
: |
Director |
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Address:
|
D- 31, Shakarpur Extn. Delhi |
MAJOR SHAREHOLDERS
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
|
|
|
|
Mr.
Sulekha Chawla |
58000 |
34.31 |
|
Ms.
Krishna Dandona |
60000 |
35.49 |
|
Mr. Anil Chawla
|
10 |
0.01 |
|
Mr. Laxmi
Narain Dandona |
1000 |
0.59 |
|
Ms.
Sujata Chadha |
25020 |
14.80 |
|
Ms.
Neelam Dandona |
25020 |
14.80 |
|
Total |
169050 |
100.00 |
BUSINESS DETAILS
|
Line
of Business : |
Importers, Distributors and Suppliers of Medical
Diagnostic Reagants, Laboratory Equipments and Immuno Chromatographic Tests
(ICT) Equipments. |
|
|
|
|
Products
: |
v Anti –RNA Polymerase III ELISA Kit
v ECP ELISA Kit v MESACUP – 2 anti – Tg Test v MESACUP – 2 anti – TPO Test v Antinuclear Antibody (ANA) v Anti – ENA Antibodies v Anti – SM Antibody v Anti – RNP Antibody v Anti – SS- A/ Ro Antibody v Anti – SS- B/ La Antibody v Anti – Scl-70 Antibody v Anti – Jo – 1 Antibody v Anti – CENP – B Antibody v Anti – ds DNA Antibody v Anti – Ribosomal P Antibody v
Laboratory Automation v
Autoimmune v
Cedia v
HIV & Viral Load v
Antibodies v
Innovative Test v
Hemostasis v
Rapid Test v
Infectious Disease v
Other Elisa Kits |
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|
|
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Imports
from : |
USA and Europe |
GENERAL INFORMATION
|
Bankers
: |
v State Bank of India, Najafgarh
Road, New Delhi v Punjab National Bank, Cerral
Market, Kirti Nagar, New Delhi |
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|
|
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Facilities : |
The subject is availing Cash Credit facilities with State Bank
of India and it is secured against hypothecation of stocks. |
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Banking Relations : |
Unknown |
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Auditors
: |
Parmod Singhal and Associates Chattered Accountants 396 KG-1, Vikas Puri, New Delhi – 110 018, India |
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Tel.
No.: |
91-11-25596567/ 25534630 |
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Fax
No.: |
91-11-25534630 |
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E-Mail
: |
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Subsidiaries
: |
v Sentech Bio Medicals Private
Limited |
CAPITAL STRUCTURE
Authorised
Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs. 10/- |
Rs. 5.000 millions |
Issued,
Subscribed & Paid-up Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
169050 |
Equity Shares |
Rs. 10/- |
Rs. 1.690 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
No financials subsequent to year 2000 could be available for
any sources.
Management remained non-cooperative during the current
investigation.
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2000 |
31.03.1999 |
|
SHAREHOLDERS
FUNDS |
|
|
|
|
1] Share
Capital |
|
1.690 |
1.690 |
|
2]
Reserves & Surplus |
|
1.994 |
1.623 |
NETWORTH
|
|
3.684 |
3.313 |
|
LOAN
FUNDS |
|
|
|
|
1]
Secured Loans |
|
0.812 |
2.463 |
|
2]
Unsecured Loans |
|
5.260 |
2.948 |
TOTAL
BORROWING
|
|
6.072 |
5.411 |
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|
|
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TOTAL
|
|
9.756 |
8.724 |
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APPLICATION OF FUNDS
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|
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FIXED ASSETS [Net Block]
|
|
2.247 |
2.182 |
Capital work-in-progress
|
|
0.000 |
0.000 |
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|
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CURRENT ASSETS, LOANS & ADVANCES
|
|
16.374 |
12.803 |
Total Current Assets
|
|
16.374 |
12.83 |
Less : CURRENT LIABILITIES & PROVISIONS
|
|
8.868 |
6.265 |
Total Current Liabilities
|
|
8.868 |
6.265 |
Net
Current Assets
|
|
7.506 |
6.538 |
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MISCELLANEOUS EXPENSES
|
|
0.003 |
0.004 |
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TOTAL
|
|
9.756 |
8.724 |
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2000 |
31.03.1999 |
Sales Turnover [including other income]
|
|
44.225 |
27.464 |
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|
|
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|
Profit/(Loss) Before Tax
|
|
0.667 |
0.762 |
Provision for Taxation
|
|
0.297 |
0.153 |
Profit/(Loss) After Tax
|
|
0.370 |
0.609 |
|
|
|
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Import Value
|
|
32.193 |
18.550 |
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|
|
|
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Total Expenditure
|
|
43.272 |
26.470 |
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2000 |
31.03.1999 |
PAT / Total Income
|
(%)
|
|
0.84 |
2.22 |
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|
Net Profit Margin
(PBT/Sales) |
(%) |
|
1.51 |
2.81 |
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|
Return on Total Assets
(PBT/Total
Assets} |
(%) |
|
3.58 |
5.08 |
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|
Return on Investment (ROI)
(PBT/Networth) |
|
|
0.18 |
0.23 |
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|
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Debt Equity Ratio
(Total
Liability/Networth) |
|
|
4.06 |
3.52 |
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Current Ratio
(Current
Asset/Current Liability) |
|
|
1.85 |
2.04 |
LOCAL AGENCY FURTHER INFORMATION
Profile
It is an emerging corporation engaged in marketing of medical
diagnostic reagants and laboratory equipments for the diagnosis, prevention and
control of human diseases.
The primary objective of the corporation is to take
available the cutting edge technologically advanced diagnostic reagants and
laboratory automation to the medical fraternity and healthcare industry in
pursuit of delivering quality medical care to patients.
The subject is an Authorized Distributors for the following
companies:
Binax Inc.
10 Southgate Road, Scarborough, ME 04074 USA
Ph: 1 207 730 5700
Fax: 1 207 730 5710
Lab Vision Corporation
47790 Westinghouse Drive, Fremont, CA 94539 USA
Ph: 1 510 991 2800
Fax: 1 510 991 2826
Buhlmann Laboratories
AG
P O Box, CH – 4123 Allschwil 1, Switzerland
Ph: 41 61 487 1212
Fax: 41 61 487 1299
Medical and Biological
Laboratories (MBL) Company Limited
Quality Assessment
ISO 9001:2000 Certified Company
LABORATORY AUTOMATION
Fully Automated Bio-chemistry
analyzer:
Fully Automated Immunoassay
Analyzers:
Automated ESR Analyser:
Compact Automatic ESR Analyser
Nephlometer :
|
Name of the company |
SPECTRAL
DIAGNOSTICS PRIVATE LIMITED |
|
Presented By |
State Bank of India |
|
1) Date and description of instrument creating the change |
Agreement of Hypothecation of goods and assets dated
5.2.1997 Letter regarding the grant of dated 5.2.1997 Plage letter in respect of machines as security dated
5.2.1997 |
|
2) Amount secured by the charge/amount owing on the
securities of charge |
Rs. 2.000 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 on stock of medical testing kits stored at C
–32, Kirti Nagar, New Delhi or any where ales including the goods in transit
belong to company |
|
4) Gist of the terms and conditions and extent and
operation of the charge. |
The overall limit is collaterally secured rate 17.5%
margin on finished goods 50% and letter of credit 25% |
|
5) Name and Address and description of the person entitled
to the charge. |
State Bank of India, Najafgarh Road, New Delhi |
|
6) Date and brief
description of instrument modifying the charge |
Not Applicable |
|
7) Particulars of modifications specifying the terms and
conditions or the extent of operations of the charge in which modification is
made and the details of the modification. |
Not Applicable |
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|
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Name of the company |
SPECTRAL
DIAGNOSTICS PRIVATE LIMITED |
|
Presented By |
State Bank of India |
|
1) Date and description of instrument creating the change |
Agreement of Hypothecation dated 5.2.1997 Reg. on
27.2.1997 |
|
2) Amount secured by the charge/amount owing on the
securities of charge |
Rs. 2.000 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 on stock of medical testing kits stored at C
–32, Kirti Nagar, New Delhi or any where ales including the goods in transit
belong to the company |
|
4) Gist of the terms and conditions and extent and
operation of the charge. |
The overall limit is collaterally secured by hypothecation
of machine installed at C –32, Kirti Nagar, New Delhi as per dated 5.2.1997 Rate 17.5% margin on finished goods 50% and letter of
credit 25% |
|
5) Name and Address and description of the person entitled
to the charge. |
State Bank of India, Najafgarh Road, New Delhi |
|
6) Date and brief
description of instrument modifying the charge |
Supplemented agreement of hypothecation of goods and
assets in the overall limit dated 4.9.1997
|
|
7) Particulars of modifications specifying the terms and conditions
or the extent of operations of the charge in which modification is made and
the details of the modification. |
The amount charged enhanced from Rs. 2.000 Millions to Rs.
4.800 Millions in overall Limit Fund Based – Rs. 2.300 Millions Non Fund Based – Rs. 2.500 Millions SBAR – Rs. 4.800 Millions Margin – 50% on finshed goods 40% book debts |
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|
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Name of the company |
SPECTRAL
DIAGNOSTICS PRIVATE LIMITED |
|
Presented By |
S K Goyal, Punjab
National Bank |
|
1) Date and description of instrument creating the change |
Letter of Hypothecation dated 9.1.1996 |
|
2) Amount secured by the charge/amount owing on the
securities of charge |
Rs. 0.300 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 |
Cielo passenager car Chasg No. 19 to 2A 005226 Engen No. G15MF 313889 |
|
4) Gist of the terms and conditions and extent and
operation of the charge. |
The amount secured is to be paid in 36 equal monthly of
Rs. 0.011 Millions 18.50% with quarterly rests. 3% over rate |
|
5) Name and Address and description of the person entitled
to the charge. |
Punjab National Bank, Cerral Market, Kirti Nagar, New Delhi
|
|
6) Date and brief
description of instrument modifying the charge |
Not Applicable |
|
7) Particulars of modifications specifying the terms and
conditions or the extent of operations of the charge in which modification is
made and the details of the modification. |
Not Applicable |
As per website
SPECTRAL is the name synonymous
with providing world class & globally competitive diagnostic solutions to
medical fratenity. They strive to provide quality products & laboratory
equipment used in all major diagnostic laboratories throughout the geographical
spread of India. Over the years SPECTRAL
has been able to spread its footprint right from Kashmir to kanyakumari and
from Gandhinagar to Aizawl.
The guiding philosophy of SPECTRAL
is to produce globally and make available locally technologically advanced
products & automation equipments/products as would herald cutting edge
advancement in diagnosis & patient care system.
SPECTRAL is today an acknowledged
leader in providing end to end solutions in diagnostic industry. The solutions
consist of:
1. Laboratory Automation
2. CEDIA Immunosuppressive Drug Testing
3. TDM & DOA
4. Innovative Test for Detection of TB
5. Complete Range of testing Infectious Diseases
6. Advance Lipid Profile testing with LDL Subfractions
7. Flow Cytometer
8. Autostainer for Histochemistry
9. Coagulation Analyzer
The single minded pursuit of team SPECTRAL is "Affordable
Health for All". And to achieve this objective SPECTRAL strives to keep
itself abreast & technological innovations happening globally & to
bring the most up to date innovations to India.
Board Of Directors
Spectral Diagnostics has a board comprising of
eminent individuals from diverse fields. The board acts with autonomy and
independence in exercising strategic supervision, discharging its fiduciary
responsibilities, and in ensuring that the management observes the highest
standards of ethics, transparency and disclosure.
Their Directors are experts in the diversified fields of medicine, human
resource development, business strategy, finance and economics. They review all
information relating to significant business decisions, including strategic and
regulatory matters.
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
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.44.31 |
|
UK Pound |
1 |
Rs.86.96 |
|
Euro |
1 |
Rs.58.58 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP
CAPITAL |
1~10 |
5 |
|
OPERATING
SCALE |
1~10 |
-- |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS
SCALE |
1~10 |
-- |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
-- |
|
--LEVERAGE |
1~10 |
-- |
|
--RESERVES |
1~10 |
-- |
|
--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 |
|
17 |
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 |
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