MIRA
INFORM REPORT
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Report Date : |
19.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
BBIPL INFRASTRUCTURES INDIA PRIVATE LIMITED |
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Registered Office : |
No:9, 5th Cross, Swimming Pool Extn, Malleswarm
Bangalore:560003, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.20006 |
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Date of Incorporation : |
11.04.2003 |
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Com. Reg. No.: |
08-31817 |
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CIN No.: [Company
Identification No.] |
U45209KA2003PTC031817 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
To Carry on all or any of the business, Constructors, Contractors,
Promoters, developers, Builders of layouts, houses, Farm house, Villas, of all
types and description, Villas, trade centers, infrastructure projects,
technology parks, processing zones, techno centers, utility projects, ports
and docks, runways and roadways, transportations projects, community centers,
warehousing theme cottages, corporate office, for financial institution,
insurance corporations, multinational corporations, communications
facilities, convergent communication backbones, earth stations,
television/radio stations; entertainment centers, multiples, drives-in theatres,
I-max, theme parks, rides and dives, video parlors, bowling alleys, water
sports, swimming pools, museums, aquarium, circus auditoria for performing
arts; education. |
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 well-established and reputed company having satisfactory
track. Directors are reported as experience 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 : |
No:9, 5th Cross, Swimming Pool Extn, Malleswarm
Bangalore:560003, Karnataka,India |
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Tel. No.: |
91-80-23316154 |
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Fax No.: |
91-80-23310224 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Bheemaneni.Chitti Babu |
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Designation : |
Managing Director |
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Address : |
#19, 5th Cross, Swimming Pool Extension, Malleswaram,
Bangalore-560 003 |
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Date of Birth/Age : |
28.07.1967 |
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Date of Appointment : |
11.04.2004 |
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E-Mail: |
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Name : |
Ms. B. Revathi |
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Designation : |
Director |
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Address : |
#19, 5th Cross, Swimming Pool Extension, Malleswaram,
Bangalore-560 003 |
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Date of Birth/Age : |
16.01.1974 |
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Date of Appointment : |
11.04.2003 |
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Name : |
Mr. Konidala Damodar |
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Designation : |
Director |
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Address : |
#17,Between 13th and 14th Cross, Malleswaram,
Bangalore-560 003 |
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Date of Birth/Age : |
28.03.1941 |
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Date of Appointment : |
11.04.2003 |
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Name : |
Mr. B. Subramanyam Naidu |
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Designation : |
Director |
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Address : |
# 1/38,Palasamudram Village Palasamudram-517 599, Andhra Pradesh |
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Date of Birth/Age : |
05.11.1941 |
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Date of Appointment : |
11.04.2003 |
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Name : |
Mrs. Anamalamadi Vahidha |
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Designation : |
Director |
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Address : |
#325, Veerlagudi, Vengalarajukuppam, Kuppam, (post) Palasamudram:517
599. Andhra Pradesh |
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Date of Birth/Age : |
28.07.1962 |
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Date of Appointment : |
11.04.2003 |
MAJOR SHAREHOLDERS
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Names of Shareholders |
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No. of Shares |
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Mr. B. Chitti Babu |
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45000 |
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Mrs. B. Revathi |
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1000 |
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Mr. K . Damodar |
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1000 |
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Mr. B.Subramanyam Naidu |
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1000 |
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Mrs A. Vaheedha |
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1000 |
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Mr. B. Chitti Babu |
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59000 |
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Mr. K Domodar |
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20,000 |
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Mr. V. Sekar |
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11,000 |
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Mr. M. Babu |
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5,000 |
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Mr.D.Manjunath |
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5,000 |
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Total |
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149,000 |
BUSINESS DETAILS
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Line of Business : |
To Carry on all or any of the business, Constructors, Contractors, Promoters,
developers, Builders of layouts, houses, Farm house, Villas, of all types and
description, Villas, trade centers, infrastructure projects, technology
parks, processing zones, techno centers, utility projects, ports and docks,
runways and roadways, transportations projects, community centers,
warehousing theme cottages, corporate office, for financial institution,
insurance corporations, multinational corporations, communications
facilities, convergent communication backbones, earth stations, television/radio
stations; entertainment centers, multiples, drives-in theatres, I-max, theme
parks, rides and dives, video parlors, bowling alleys, water sports, swimming
pools, museums, aquarium, circus auditoria for performing arts; education |
GENERAL INFORMATION
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No. of Employees: |
About 75 |
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Bankers : |
UCO Bank Malleshwarm Branch, Bangalore-560003, Karnataka, India |
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Facilities : |
-- |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
P.J. Jagannadha Reddy Chartered Accountant |
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Address : |
47D, Seetharam Building, J.C. Road, Bangalore:560002 Karnataka |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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150000 |
Equity shares |
Rs.100/-(each) |
Rs.15.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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149000 |
Equity shares |
Rs.100/-(each) |
Rs.14.900 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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7.200 |
4.900 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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63.606 |
20.783 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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70.806 |
25.683 |
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LOAN FUNDS |
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1] Secured Loans |
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50.864 |
41.955 |
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2] Unsecured Loans |
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13.133 |
7.600 |
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TOTAL BORROWING |
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63.997 |
49.555 |
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DEFERRED TAX LIABILITIES |
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4.622 |
4.006 |
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TOTAL |
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139.425 |
79.244 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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61.448 |
43.926 |
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Capital work-in-progress |
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17.254 |
7.333 |
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INVESTMENT |
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DEFERREX TAX ASSETS |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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37.675 |
8.876 |
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Sundry Debtors |
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99.260 |
25.982 |
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Cash & Bank Balances |
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2.034 |
7.420 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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113.216 |
84.808 |
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Total
Current Assets |
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252.185 |
127.086 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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166.570 |
94.042 |
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Provisions |
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24.947 |
5.132 |
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Total
Current Liabilities |
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191.517 |
99.174 |
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Net Current Assets |
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60.668 |
27.912 |
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MISCELLANEOUS EXPENSES |
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0.055 |
0.073 |
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TOTAL |
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139.425 |
79.244 |
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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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2.70 |
3.86 |
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Current Ratio (Current Asset/Current Liability) |
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1.31 |
1.28 |
LOCAL AGENCY
FURTHER INFORMATION
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Name of the company |
Bheemaneni Builders (India) Private
Limited |
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Presented By |
Bheemaneni Builders (India) Private
Limited |
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1) Date and description of instrument creating the change |
22nd November 2003, Hypothecation Agreement |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.15.000
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 of
vechiles of JCB Excavator loader Bearing Regn. No: KA-04-A-3033 and Ashok
Leyland Tipper bearing Reg. No. KA-04-C-1008 and KA-04-C-2277 and Bills
receivaqbles from various government/public/private organization like
KHSDP,KHB,PWD,CPWD,RITES,etc,belonging to the company |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interset @ 14%p.a
Repayable on Demand |
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5) Name and Address and description of the person entitled to the charge. |
The Karnataka
Bank Limited Nehrunagar Branch Banglore-560 020 |
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6) Date and brief description of instrument modifying the charge |
05.05.2005 Hypothecation
Agreement Promote |
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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. |
Renewal of Limit
of Rs.15.000 Millions Interest @ 2% above KBPLR with a Minimum of 14%Pa. All
other Terms, conditions and Securities continues. |
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.66 |
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UK Pound |
1 |
Rs.85.91 |
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Euro |
1 |
Rs.58.44 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
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 |
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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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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