MIRA
INFORM REPORT
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Report Date : |
06.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
SUDARSHAN OVERSEAS LIMITED |
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Registered Office : |
306-307, 2nd Floor, Shivam House, Karampura Commercial Complex, New Delhi – 110 015 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
18.03.1993 |
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Com. Reg. No.: |
55-52664 |
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CIN No.: [Company
Identification No.] |
U74899DL1993PLC052664 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
HYDS15715A |
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Legal Form : |
Closely Held Public Limited Liability Company |
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Line of Business : |
Manufacturers and Exporters of Fruit Pulp, Jam, Pickle, Tutti Fruities, Rice, Sesame Seeds and Chemicals. |
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 : |
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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/ Head Office : |
306-307, 2nd Floor, Shivam House, Karampura Commercial Complex, New Delhi – 110 015, India |
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Tel. No.: |
91-11-25194062/25193855/25920375/377/380/ 25920961-65 |
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Mobile No.: |
91-11-25920378 |
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Fax No.: |
91-9810029294 |
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E-Mail : |
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Website : |
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Area : |
5200 Sq. ft. |
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Location : |
Owned |
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Factory 1 : |
Rice Mill: Village Kunjpura, District Karnal, Haryana |
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Tel. No.: |
91-184-22384615 |
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Area : |
50 Acres |
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Location : |
Owned |
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Factory 2 : |
SY.No. 16/1, Konganahalli Village, Talavavara Post, Chintamani Tk., District Karnataka |
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Branches : |
61 K V B Puram, Pichatur, Srikalahasti, K V B Puram, Chittoor, Andhra
Pradesh |
DIRECTORS
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Name : |
Mr. Sanjeev Malhotra |
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Designation : |
Director |
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Address : |
10/81, West Punjabi Bagh, New Delhi – 110 026 |
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Date of Birth/Age : |
04.12.1965 |
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Date of Appointment : |
18.03.1993 |
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Name : |
Mr. Sudarshan Kumar Malhotra |
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Designation : |
Director |
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Address : |
10/81, West Punjabi Bagh, New Delhi – 110 026 |
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Date of Birth/Age : |
15.04.1937 |
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Date of Appointment : |
18.03.1993 |
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Date of Ceasing : |
20.08.2005 |
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Name : |
Mr. Sunayana Malhotra |
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Designation : |
Director |
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Address : |
10/81, West Punjabi Bagh, New Delhi – 110 026 |
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Date of Birth/Age : |
18.03.1993 |
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Date of Appointment : |
18.03.1993 |
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Date of Ceasing : |
20.08.2005 |
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Name : |
Mr. Gautam Seth |
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Designation : |
Director |
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Address : |
Icon Housing, Flat T-1, Plot -10D, Sector 5, Vaishali, Gaziabad |
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Date of Birth/Age : |
19.05.1964 |
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Date of Appointment : |
18.01.2005 |
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Name : |
Mr. Manoj Kumar |
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Designation : |
Director |
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Address : |
416A, Street No.2, Ganesh Nagar II, Delhi-110092 |
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Date of Birth/Age : |
15.10.1971 |
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Date of Appointment : |
18.01.2005 |
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Name : |
Mr. Surya Prakash Shukla |
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Designation : |
Director |
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Address : |
58/B/2, 1st Floor, St. Thomas Town, 2nd Cross Road,
Bangalore-560084, Karnataka, India |
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Date of Birth/Age : |
01.02.1965 |
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Name : |
Mr. Rakesh Kumar |
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Designation : |
Director |
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Address : |
C-107, Ramdutt Enclave, Uttam Nagar, New Delhi-110059, Delhi, India |
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Date of Birth/Age : |
25.08.1952 |
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Date of Appointment : |
10.08.2006 |
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Name : |
Mr. Dhulipalla Venkata Ratnam |
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Designation : |
Director |
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Address : |
Flt No.301, Plot No.647, Sri Sai Enclave, Naveen Nagar, Khairatabad,
Hyderabad-500004, Andhra Pradesh, India |
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Date of Birth/Age : |
14.12.1952 |
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Date of Appointment : |
29.09.2006 |
KEY EXECUTIVES
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Name : |
Mr. Amit Anand |
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Designation : |
Company Secretary |
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Address : |
C-87, Kalka JI, New Delhi |
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Date of Birth/Age : |
05.01.1974 |
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Date of Appointment : |
23.08.2004 |
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Name : |
Mr. Gautam Pawan Gupta |
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Designation : |
Company Secretary |
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Address : |
U-20, Shakarpur, New Delhi-110062, Delhi, India |
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Date of Birth/Age : |
17.03.1979 |
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Date of Appointment : |
27.12.2006 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
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Mr. Sanjeev Malhotra |
1774600 |
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Mr. Sunayana Malhotra |
627000 |
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Funtime Advertisement Private Limited |
100000 |
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J.M.K. Securities |
50000 |
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A.K.S. Builders |
50000 |
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Weal Iron and Steel |
50000 |
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Mrs. Amita
Malhotra |
1900 |
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Mr. Sudarshan Malhotra |
19000 |
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Mrs. Veena Malhotra |
19000 |
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Mr. Sanjay Malhotra |
1900 |
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Mr. Surender Kumar Talwar |
19000 |
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Winsome Portfolio Private Limited |
50000 |
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Sudarshan India Private Limited |
750000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of Fruit Pulp, Jam, Pickle, Tutti Fruities, Rice, Sesame Seeds and Chemicals. |
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Products : |
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Exports : |
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Products : |
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Countries : |
Jordan, Korea Republic, Kuwait, Lebanon, Oman, Saudi Arabia,
UAE and Yamen Arab Republic |
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Terms : |
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Selling : |
L/C, Cash and Credit terms |
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Purchasing : |
L/C and Credit terms |
PRODUCTION STATUS
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Particulars |
Unit |
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Installed
Capacity |
Actual
Production |
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Basmati Rice |
MT/Per Annum |
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75,000 |
60,000 |
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Non-Basmati Rice |
MT/Per Annum |
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2,40,000 |
1,00,000 |
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Fruit Puree and Concentrates |
MT/Per Annum |
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80,000 |
80,000 |
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Processed Foods |
MT/Per Annum |
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30,000 |
10,000 |
GENERAL
INFORMATION
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Suppliers : |
Some of its suppliers are as under: Delhi: v Abdul Galil Radman Trading v Al Bandariyah Dairy Company v Anchal Computers v Arbian Beverage Company Limited v Bafna Packagings Private Limited v Beautex Advertising Media v Blue Dart Express Private Limited v Golden Garden Processed Food v Hunter Shipping and Trading Private Limited v Intime Services v J.B. & Associates v Jyoti Printers v Kerry’s Jupiter Products v Kraft Containers v L.A.Freight Lift Private Limited v National Micro v Overseas Express v Packmaster Containers Private Limited v Radha Industries v Radiant Airways India Private Limited v Rasex Traders v Shiv Shipping v Saranm Sesha Sai Packs v Sealed Air Hong Kong Limited v Sri Venkateshwara Packaging Industries v Stikon v Trans Asian Shipping Services Private Limited v V.Sundararajulu and Associates v Vista Ads v Vista Advertising v Vivek Fine Arts Karnal: v
Ajanta Traders Stationers v
Babu Ram Broker v
Arun Broker v
Dang’s Talk Point v
First Flight Couriers Limited v
Gian Chand, Broker v
Group – 4 Security Guarding Limited v Nawal Kishore Oil Company |
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Customers : |
Its major customers are Wholesalers and End Users. Some of its major customers are as under: New Delhi: v Abdul Galil Radman Trading Company v Al-Rawabi Dairy Company v Al Ahmed Omer Alghobri v Arrow Juice Factory v Bahwan Foods Company v Derhim Industries Company Limited v Dhofar Beverage Company v IBN Hayana Trading Est. v Interband SAL v International Beverage Sharjah v Khimji Ramdas v Marmum Dairy Farm LLC v Modern General Trading v Mohammad Ahmed for Trading v Najdyah Marketing Company Limited v National Agricultural Development Company v National Beverages Company (Oman) v Oman National Dairy Products v Rashwell Company LLC v Shafa Food Industries Company v United Beverage Company v Yeman United Beverages Company Karnal: v
Jaipur Traders v
Madhuram Industries v
Mahadev Trading Company v
Multi Products India v
Parmar Parihar and Company v
R. Mutha Rice House v
Rambaksh v
Ravi Chand Abhay Kumar Jain v
Sach Dev Rice and Pulse Mills v
Sai Trading Company v
Shashi Foods v
Tip – Top |
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Bankers : |
v Vijaya Bank, Barakhamba Road, Connaught Place v State Bank of India, Cochin v State Bank of Patiala, Delhi v Punjab National Bank, Delhi v State Bank of India, Karnal v Indian Bank, Madras v ICICI Bank Limited, Bangalore v ICICI Bank Limited, Delhi v UTI Bank v Andhra Bank v Standard Chartered Bank, Narain Manzil, 23, Barakhamba Road, New Delhi-110001, Delhi, India v State Bank of India (Lead Bank), Overseas Branch, Jawahar Vyapar Bhawan, 1, Tolstoy Marg, New Delhi-110001, Delhi, India |
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Facilities : |
Secured Loans
(Rs. In millions):
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
R.N. Marwah & Company Chartered Accountants |
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Address : |
4/80, Janpath, New Delhi-110001, Delhi, India |
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Associates/Subsidiaries : |
v Sudarshan Consolidated Limited, Shivam House, Karampura, New Delhi Line of Business: Manufacturing Agro-Chemicals v Kaiser Industries Limited, 371-A, M.I.E. Bahadurgarh, Haryana Line of Business: Manufacturing Speciality Chemicals v Heavens Agrotech
Limited v Sudarshan India
Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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7500000 |
Equity Shares |
Rs.10/- each |
Rs.75.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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5136400 |
Equity Shares |
Rs.10/- each |
Rs.51.364 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
51.364 |
35.124 |
27.624 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
111.546 |
97.143 |
91.995 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
162.910 |
132.267 |
119.619 |
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LOAN FUNDS |
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1] Secured Loans |
432.256 |
234.099 |
212.437 |
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2] Unsecured Loans |
11.984 |
0.000 |
0.000 |
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TOTAL BORROWING |
444.240 |
234.099 |
212.437 |
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DEFERRED TAX LIABILITIES |
6.660 |
1.376 |
0.000 |
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TOTAL |
613.810 |
367.742 |
332.056 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
67.896 |
39.767 |
19.354 |
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Capital work-in-progress |
26.554 |
3.145 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
258.387
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145.065 |
43.048 |
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Sundry Debtors |
434.421
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80.389 |
85.651 |
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Cash & Bank Balances |
200.709
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188.516 |
5.842 |
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Other Current Assets |
0.000
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0.000 |
165.013 |
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Loans & Advances |
87.016
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43.140 |
39.704 |
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Total
Current Assets |
980.533
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457.110 |
339.258 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
445.497
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128.836 |
22.892 |
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Provisions |
15.676
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3.444 |
3.664 |
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Total
Current Liabilities |
461.173
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132.280 |
26.556 |
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Net Current Assets |
519.360
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324.830 |
312.702 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
613.810 |
367.742 |
332.056 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover |
1300.981 |
913.439 |
441.785 |
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Other Income |
29.331 |
1.303 |
7.972 |
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Total Income |
1330.312 |
914.742 |
449.757 |
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Profit/(Loss) Before Tax |
32.073 |
7.959 |
12.460 |
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Provision for Taxation |
17.669 |
2.812 |
3.073 |
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Profit/(Loss) After Tax |
14.404 |
5.147 |
9.387 |
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Total Earnings |
NA |
878.884 |
NA |
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Expenditures : |
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Cost of Goods Sold |
NA |
NA |
326.814 |
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Manufacturing Expenses |
NA |
NA |
3.665 |
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Administrative Expenses |
NA |
NA |
11.381 |
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Raw Material Consumed |
63.334 |
71.728 |
NA |
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Purchases made for re-sale |
992.108 |
493.587 |
NA |
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Consumption of stores and spares parts |
1.067 |
1.927 |
NA |
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Increase/(Decrease) in Finished Goods |
(152.177) |
(30.077) |
NA |
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Salaries, Wages, Bonus, etc. |
7.762 |
4.022 |
5.129 |
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Managerial Remuneration |
1.200 |
0.720 |
NA |
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Payment to Auditors |
0.393 |
0.051 |
NA |
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Interest |
29.133 |
29.620 |
12.662 |
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Insurance Expenses |
3.919 |
13.555 |
NA |
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Power & Fuel |
1.464 |
1.212 |
NA |
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Depreciation & Amortization |
3.997 |
3.510 |
2.055 |
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Other Expenditure |
346.041 |
316.926 |
75.589 |
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Total Expenditure |
1298.239 |
906.782 |
437.296 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
1.08
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0.56 |
2.09 |
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Net Profit Margin (PBT/Sales) |
(%) |
2.41
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0.87 |
2.77 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.06
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1.60 |
3.47 |
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Return on Investment (ROI) (PBT/Networth) |
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0.20
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0.06 |
0.10 |
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Debt Equity Ratio (Total Liability/Networth) |
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5.56
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2.77 |
0.03 |
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Current Ratio (Current Asset/Current Liability) |
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2.13
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3.45 |
12.77 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8 Particular for creation or modification of charges
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Name of the company |
SUDARSHAN OVERSEAS LIMITED |
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Presented By |
Jointly by Charge
holder and Borrower |
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1) Date and description of instrument creating the change |
Working capital consortium agreement dated 09.02.2005. Joint deed of hypothecation dated 09.02.20005. Inter se agreement dated 09.02.2005. (Regd. On 14.02.2005) |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.516.000 millions |
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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 first charge on pari passu basis on dstocks of raw materials, stocks-in-process, finished goods and consumable stores and spares lying at the factory, godowns, inward RR/MTR’s/Bills of lading and other documents of title to goods covering raw materials, finished goods in transit and book debts/ receivables, both present and future. Such other collateral securities as are specified and stipulated in the sanction letters of State Bank of India and state Bank of Patiala. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
The charge being so created shall operate on a pari passu basis between State Bank of India and State Bank of Patiala so as to secure their respective working capital facilities extended to the company, State Bank of India being the lead bank in condsorium as formed. |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of India, Overseas Branch, Jawahar Vyapar Bhawan I. Tolstoy Marg, New Delhi-110001 And State Bank of Patiala Chandralok Building 36, Janpath, New Delhi |
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6) Date and brief description of instrument modifying the charge |
No instrument was executed. On 27.05.2005, an equitable mortgage was created by deposit of title deeds of immovable properties of the company with SBI, SBI acing for it self and an agent of State Bank of Patiala in terms of Board resolution dated 20.05.2005. |
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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 working capital facilities of Rs.516.000 millions (SBI Rs.260.000 millions and State Bank of Patiala Rs.256.000 millions) together with interest, additional interest compound interest liquidated damages, commitment charges, premia on prepayment or on redemption, costs, charges, expenses and other moneys payable by the company top consortium banks, are now also secured by equitable mortgage of immovable properties of the company situated at : Plot No.127, Sector 44, Gurgaon, Haryana and 204 and 205, Shivam House, B-2, Karampura Commercial Complex, New Delhi |
Subject is engaged in the business as manufacturers and exporters of Fruit Pulp, Jam, Pickle, Tutti Fruities, Rice, Sesame Seeds and Chemicals.
It manufactures its product under brand name Khass, Tower and Blue Parrot.
Profile
Subject the flagship, Trading House of the group has specialized itself in being on of the largest manufacturers and exporters of Fruits-Juice Concentrates and Processed Foods. The company has strategically located manufacturing facilities for production of various concentrates. It provide technical guidance wherever required, including during the various stages of processing by the customer, development and advise for new products. Today Khaas is synonymous with a premium range of Fruit Juice Concentrates and Processed Foods.
The products handled by the company conform to required specifications, great care is taken while selecting raw Materials, processing technology and packaging material to make sure that only superior quality products reach the consumer world over.
The company over the years has not only implemented latest State-of-the-art technology, but also integrated vertically to give itself and edge over its competitors.
The company stands as pioneer in the field of agro products export. The Company has made substantial progress since its establishment.
Subject is a ISO – 9002 Certified Company.
Awards
v The Company was awarded “The Apeda Export Award” on 24th December 2003 by Shri Arun Jaitley, Minister of Commerce and Industry. The Company in a short span of time has achieved distinction of being the largest exporter of Mango Pure and Concentrates out of India.
v The Certificate of Merit was awarded by the Agricultural and Processed Food Products Export Development Authority, Ministry of Commerce, Government of India for export promotion of Fruit Pulp.
v The Company received ‘State Award For Export Excellence” from Government of National Capital Territory of Delhi” in recognition of its outstanding export performance.
It’s products ranges include: -
v Other Prepared Foods (By Roasting)
v Basmati Rice
v Jam Jellies of Other Fruits
v Guava PRPD/PRSVD
v Oth Fruits PRPD/PRSVD
It is in trade terms with:
v The Chase Manhattan Inc. , Room No. 905, Taichi Building, Taiwan
v Aujan Soft Drinks Industries Limited, Kingdom of Saudi Arabia
v Alamoodi Beverage Industries, Kingdom of Saudi Arabia
Its fixed assets of important value include Plant and Machinery, Computer and Printer, Furniture and Fixtures, Fax Machine, Cycle, Car, Rice Mill (Building), Air Conditioner, Fire Extinguisher, Weighing Scale Machine, Land, Laboratory Equipments, Mobile Phone Hand Set, Electrical fittings, wooden crates, Storage tank, Access Control System, EPBX, Land (Gurgon), Office Equipments, Stabilizer, Water Dispenser, Water Purifier, and Capital.
It employs about 219 persons in its set up comprising of 35 persons in office, 160 persons in factory and 24 persons in branch.
Website Details :
Sudarshan Overseas Limited Popularly
known as “SOL”
was established in 1990 by the Sudarshan Group, which has over 50 years of
business experience. In the past 15 years “Subject” has developed into a
dynamic supply chain company based in India with offices in Dubai , U.A.E. and
China . Founded in 1940, the Sudarshan Group is an old international company in
India with a long and successful tradition of being in business. Headquartered
in India, the Group is a multi business conglomerate operating in over 45
countries and employing over 600 people worldwide.
Fundamentals :
Subject is a leading global supply chain
company of Commodities and food ingredients. Their distinctive position is
based both on the strength of their origination capability and their strong
position in the destination markets worldwide. They manage each activity in the
supply chain from origination to processing, logistics, marketing and
distribution. Their complete integration allows them to add value and manage
risk along the entire supply chain from the origins to their customers. They
are suppliers to many of the world's most prominent brands. They are committed
to providing employment, supporting the community and protecting the
environment in every country in which they operate. Across their worldwide
network they seek to create value, at every level, for their customers,
shareholders and employees alike. They will continue to pursue profitable
growth because, at Subject, they believe creating value is their business.
Origination
:
Their experience starts at the
origin. At the heart of their business is their origination activity, where
their knowledge and expertise assists farmers and collectors in their Agro
Commodity Business provides them with a consistent supply of good quality
produce.
Their physical presence across a wide network of locations
allows them to source the products from as close to the farm gate as possible
directly from the origin. To support this, they have developed a network of
up-country procurement units and warehouses. Their trained and experienced
field managers, with well-institutionalised field operating systems, enable
accurate stock and quality assessment and effective risk management. This
ensures they have complete control over procurement, logistics and storage.
They are a multi-product company, which enables their
country operations to cross source products by sharing resources, thereby
making each country and business, cost competitive and locally effective.
However, the reason behind their extraordinary success in
origination lies not simply in their physical presence in many origins and
their innovative approach to business but in their belief in partnerships,
enabled by the close and productive relationships that they develop with
growers and suppliers.
Marketing
Their extensive network and
integration within the supply chain enables them to provide their customers
with timely, consistent and reliable supplies as well as up to date information
on the world markets. This has helped them forge privileged relationships with
the end users to whom they provide various value added services and customised
solutions.
Their customers expect a reliable supply and efficient
service. They achieve this by getting to know their business partners and
determining their specific needs. They are dedicated to building unique
relationships with customers that reflect their individual requirements by
providing them with customised solutions, including special grades and quality,
traceability, providing organically certified supplies or fair trade produce
certified supplies and tailor made risk management solutions.
Their offices in Dubai & China form the axis for all
their hedging activity. These offices form the key hubs for their marketing
activities with experienced traders who are in constant contact with their customers
worldwide.
In addition to their own marketing expertise and
infrastructure, they have an extensive network of trusted and experienced
agents, with an in-depth understanding of the local markets, which is
particularly important in fragmented industries like cotton. With their
origination skills, they are able to offer a level of service and information,
which differentiates them in the market place. They have strong relationships
with their customers, including major multinationals and support their supply
chain requirements adding value and providing a reliable source of raw
materials and customised solutions and services to them.
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.44.44 |
|
UK Pound |
1 |
Rs.85.89 |
|
Euro |
1 |
Rs.58.54 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this report.
The assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|