MIRA
INFORM REPORT
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Report Date : |
02.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
BONY POLYMERS PRIVATE LIMITED |
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Registered Office : |
Plot No. 77, Sector – 6, Faridabad – 121006, Haryana |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
11.07.1995 |
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Com. Reg. No.: |
05-32763 |
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CIN No.: [Company
Identification No.] |
U25110HR1995PTC032763 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
RTKB02676C |
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PAN No.: [Permanent
Account No.] |
AABCB1594N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Rubber Products
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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 575000 |
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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/Factory : |
Plot No. 77, Sector – 6, Faridabad – 121006, Haryana |
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Tel. No.: |
91-129-2211701/2/3 |
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E-Mail : |
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Website.: |
DIRECTORS
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Name : |
Mr. Bhatia Raj |
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Designation : |
Director |
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Address : |
House No. 843, Sector – 15, Faridabad – 121007, Haryana |
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Date of Birth/Age : |
15.03.1952 |
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Date of Appointment : |
11.07.1995 |
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Name : |
Ms. Kavita Bhatia |
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Designation : |
Director |
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Address : |
House No. 843, Sector – 15, Faridabad – 121007, Haryana |
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Date of Birth/Age : |
18.01.1954 |
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Date of Appointment : |
11.07.1995 |
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Name : |
Mr. Bhatia Dayal Jai |
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Designation : |
Director |
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Address : |
House No. 1114, Sector – 15, Faridabad – 121007, Haryana |
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Date of Appointment : |
25.03.1999 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
No. of Shares |
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Mr. Bhatia Raj |
1200200 |
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Mr. Bhatia Saket |
1002200 |
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Ms. Bhatia Kavita |
690200 |
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Mr. Raj Kumar Bhatia (HUF) |
602000 |
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M/s. Saket Fabs Private Limited |
500000 |
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Mr. Bhatia J D |
200 |
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Ms. Bhatia Veena |
200 |
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Mr. Bhatia Inder |
200 |
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Ms. Bhatia Seeba |
200 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Rubber Products
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GENERAL
INFORMATION
|
Customer |
For Locomotives v
Indian Railways v
Rites For Four Wheelers v
Claas India Limited. v
Delphi v
Denso India Limited. v
Hindustan Motors Limited. v
Mahindra & Mahindra
Limited. v
Maruti Udyog Limited.
(Suzuki Motors) v
Minda Rika Private Limited.
v
Minda Impco Limited v
Munjal Showa Limited v
Swaraj Mazda Limited v
Tenneco Automotive
Hydraulic Private Limited. For Two Wheelers v
FCC Rico Limited. v
Hero Honda Motors Limited. v
Honda Motorcycle &
Scooter India (Private) Limited. v
Kinetic Engineering
Limited. v
LML Limited. v
Yamaha Motor India (Private)
Limited. For Three Wheelers v
Piaggio India (Private)
Limited. v
Scooter India Limited. For Non Automobiles
Industries v
Birla Yamaha Limited. v
G.E. Motors India Limited. v
Knorr-Bremse India Private
Limited. |
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Bankers : |
Hero Honda Finlease Limited, 34 Community Centre Basant Lokvasant Lok,
Vasan Vihar, New Delhi – 110057 |
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Facilities : |
-- |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Rakesh & Raj Associates Chartered Accountant |
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Address : |
House No. 565, Sector – 7B, Faridabad – 121006 |
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Memberships : |
Nil |
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Collaborators : |
Nil |
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Associates/Subsidiaries : |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10,000,000 |
Equity Shares |
Rs. 10/- Each |
Rs. 100.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
8,000,000 |
Equity Shares |
Rs. 10/- Each |
Rs. 80.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
|
80.000 |
39.954 |
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2] Share Application Money |
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2.954 |
20.500 |
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3] Reserves & Surplus |
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62.563 |
47.847 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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145.517 |
108.301 |
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LOAN FUNDS |
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1] Secured Loans |
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92.694 |
30.775 |
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2] Unsecured Loans |
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10.361 |
14.566 |
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TOTAL BORROWING |
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103.055 |
45.341 |
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DEFERRED TAX LIABILITIES |
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11.842 |
7.893 |
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TOTAL |
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260.414 |
161.535 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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198.489 |
132.681 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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1.189 |
1.189 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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52.425 |
28.514 |
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Sundry Debtors |
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150.530 |
96.748 |
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Cash & Bank Balances |
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9.908 |
4.811 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
|
46.249 |
27.352 |
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Total
Current Assets |
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259.112 |
157.425 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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183.888 |
117.866 |
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Provisions |
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14.495 |
11.908 |
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Total
Current Liabilities |
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198.383 |
129.774 |
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Net Current Assets |
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60.729 |
27.651 |
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MISCELLANEOUS EXPENSES |
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0.007 |
0.014 |
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TOTAL |
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260.414 |
161.535 |
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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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2.07 |
1.61 |
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Current Ratio (Current Asset/Current Liability) |
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1.30 |
1.21 |
LOCAL AGENCY
FURTHER INFORMATION
|
Corporate
identity number (CIN) Foreign company registration number |
U25110HR1995PTC032763 |
|
Name of the
Company |
BONY POLYMERS PRIVATE LIMITED |
|
Address |
Plot No. 77, Sector – 6, Faridabad – 121006, Haryana |
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This form is for |
Creation of
Charge |
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Type of Charge |
Hypothecation |
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Particulars of
the charge holder |
Hero Honda Finlease Limited, 34 Community Centre Basant Lokvasant Lok,
Vasan Vihar, New Delhi – 110057 |
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Nature or
description of the instrument |
Agreement to finance the purchase of equipment and plant and machinery
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Date of
Instrument creating charge |
12.09.2005 |
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Amount secured by
the charge |
Rs. 14.500
Millions |
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Brief of the
principal terms and conditions |
The entire loan
amount will be repaid in 36 monthly installments with a interests at @ 4.86%
per annum Hypothecation by
way of lien and charge on the equipment and plant and machinery to the charge
holder |
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Description of
the property charged indicating |
Plant &
Machinery |
As per website
Details
Profile
Man Power
A team of Professional Engineers & Technologists having wide and
diverse experience in the field of Rubber Technology and Manufacturing with
Total Commitment to Quality. The plants have full fledged team of professionals
and experts to take care of production, procurement and quality assurance.
Management
Practices
The modern Management Practices like continuous improvements,
Quality Circle, Kaizan, VA/VE etc. are not only being preached, but, are being
practiced in day to day working and lot of emphasis is on imparting training to
all the employees.
Products
Rubber Moulded
Components
·
Rings and Gaskets
A comprehensive range of O Rings based on Nitrile, Poly Acrylic, Poly
Urathene, Fluoro Carbon, Silicone, Aflas etc.
v
Shock Absorber
Components
Sprockets, Suspension Bushes,Two-bolt Instrumountings, Buffers,
Stoppers, Elastomeric pads, Rectangular Mountings, Engine Mounts, Hydromounts,
Flexible Couplings etc.
v
Boots and Bellows
v
Grommets for Wiring Harnesses
Rubber to Metal Bonded Components
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Insulators for Carburetors
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Anti Vibration Mounts
v
Rubber Bushes
v
Shocker's Bushes
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Silent Blocks, Buffers
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Hydromounts
Hoses and Fuel Tubes
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Fuel Tubes
Single and double layer Fuel Tubes for use in highly demanding areas of
Two/ Three/ Four wheeler industries.
v
Vacuum Hoses and
Railway Hoses
High pressure hoses assembly for use in Hydraulic Brake Systems in the
Railways, Radiator Hoses, Water Hoses and Vacuum Hoses.
v
General Automotive
Components
Their specialized products have been utilized in highly demanding areas
of automobiles and general industries.
Many components are designed to meet specific customer criteria and the
company is used to the demanding schedules often required in new product
development.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.28 |
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UK Pound |
1 |
Rs.86.62 |
|
Euro |
1 |
Rs.58.32 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
|
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 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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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 |
NO |
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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 |
|
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
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 |
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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 |
|
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 |
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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