MIRA
INFORM REPORT
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Report Date : |
13.11.2007 |
IDENTIFICATION
DETAILS
|
Name : |
TAMILNAD MERCANTILE BANK LIMITED |
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Registered Office : |
57, V.E.Road, Thothukudi; 628002, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
11.05.1921 |
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Com. Reg. No.: |
001908 |
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CIN No.: [Company
Identification No.] |
U65110TN1921PLC001908 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHET01129C |
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Legal Form : |
Public Limited Liability Bank. |
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Line of Business : |
Subject is engaged in banking activities. |
RATING &
COMMENTS
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MIRA’s Rating : |
Aa |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 271161200 |
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Status : |
Excellent |
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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 bank 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 bank can be considered normal for business dealings at usual trade
terms and conditiosn |
LOCATIONS
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Registered Office : |
57, V. E. Road, Tuticorin – 628 002, Tuticorin District, Tamil Nadu, INDIA |
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Tel. No.: |
91-461-321382 / 321929 / 321932 / 321971 / 325381 / 325831 |
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Fax No.: |
91-461-322994 |
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E-Mail : |
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Website : |
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Branches : |
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DIRECTORS
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Name : |
Mr. S Radhakrishnan |
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Designation : |
Chairman & CEO |
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Name : |
Mr. B Ramachandra Adityan |
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Designation : |
Director |
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Name : |
Mr. R Kannan Adityan |
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Designation : |
Director |
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Name : |
Mr. M G M Maran |
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Designation : |
Director |
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Name : |
Mr. A Rajagopalan |
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Designation : |
Director |
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Name : |
Mr. V Bhaskaran |
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Designation : |
Director |
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Name : |
Mr. P H Arvindh Pandian |
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Designation : |
Director |
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Name : |
Mr. P Prem Vetty |
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Designation : |
Director |
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Name : |
Mr. A Narayanan |
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Designation : |
Director |
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Name : |
Mr.
N Balasubramanian |
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Designation : |
Director |
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Name : |
Mr.
A Selvaganesh |
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Designation : |
Director |
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Name : |
Mr. G Narayana Moorthy |
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Designation : |
Director |
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Name : |
Mr. S T Kannan |
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Designation : |
Director |
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Name : |
S Swaminathan |
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Designation : |
Director |
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Name : |
Mr. K K. Sharma |
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Designation : |
Director |
KEY EXECUTIVES
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Name : |
Mr.K K
Sharma |
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Designation : |
Company Secretary |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in banking activities. |
GENERAL
INFORMATION
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No. of Employees : |
2295 |
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Bankers : |
Reserve Bank of India |
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Banking
Relations : |
Good |
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Auditors : |
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Name : |
J. Thomas Fernando & Company Chartered Accountants |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000000 |
Equity Share |
Rs.10/- each |
Rs.100.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
280000 |
Equity Shares |
Rs.10/- each |
Rs.2.800
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
2.800 |
2.800 |
2.800 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
7588.700 |
6565.000 |
5585.600 |
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4] deposit |
60198.800 |
52028.700 |
48268.800 |
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NETWORTH |
67790.300 |
58596.500 |
53857.200 |
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LOAN FUNDS |
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1] Secured Loans |
570.500 |
231.500 |
113.400 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
570.500 |
231.500 |
113.400 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
68360.800 |
58828.000 |
53970.600 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
492.900 |
524.200 |
509.000 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
23164.100 |
23619.400 |
22855.700 |
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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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Balance with Banks and Money at call and short Notice |
1111.900
|
1474.000
|
2156.600 |
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Cash & Bank Balances |
3680.200
|
2813.100
|
3039.100 |
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Other Current Assets |
1953.000
|
1332.700
|
1345.300 |
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Loans & Advances |
40467.200
|
31263.900
|
26262.400 |
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Total
Current Assets |
47212.300
|
36883.700
|
32803.400 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
2508.500
|
2199.300
|
2197.500 |
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Provisions |
0.000
|
0.000
|
0.000 |
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Total
Current Liabilities |
2508.500
|
2199.300
|
2197.500 |
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Net Current Assets |
44703.800
|
34684.400
|
30605.900 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
68360.800 |
58828.000 |
53970.600 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
6379.900 |
5483.200 |
5127.000 |
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Other Income |
927.400 |
826.200 |
679.500 |
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Total Income |
7307.300 |
6309.400 |
5806.500 |
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Profit/(Loss) Before Tax |
1057.800 |
1011.900 |
823.500 |
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Provision for Taxation |
0.000 |
0.000 |
0.000 |
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Profit/(Loss) After Tax |
1057.800 |
1011.900 |
823.500 |
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Expenditures : |
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Interest |
3422.000 |
3023.300 |
2815.700 |
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Operating Expenses |
1573.300 |
1297.000 |
1248.700 |
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Provisions and Contingencies |
1254.200 |
977.200 |
918.600 |
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Total Expenditure |
6249.500 |
5297.500 |
4983.000 |
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KEY RATIOS
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Credit
Deposit Ratio |
63.92 |
57.36 |
51.35 |
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Investment
Deposit Ratio |
41.69 |
46.34 |
50.26 |
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Cash
Deposit Ratio |
5.79 |
5.83 |
5.72 |
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Interest
Expended/Interest Earned |
53.64 |
55.14 |
54.92 |
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Other
Income/Total Income |
12.69 |
13.09 |
11.70 |
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Operating
Expense/Total Income |
21.53 |
20.56 |
21.51 |
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Interest
Income/Total Funds |
9.67 |
9.36 |
9.58 |
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Interest
Expended /Total Funds |
5.19 |
5.16 |
5.26 |
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Net
Interest Income/Total Funds |
4.49 |
4.20 |
4.32 |
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Non
Interest Income/Total Funds |
1.41 |
1.41 |
1.27 |
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Operating
Expense/Total Income |
2.39 |
2.21 |
2.33 |
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Profit
Before Provisions/Total Funds |
3.51 |
3.39 |
3.25 |
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Net
Profit/Total Funds |
1.60 |
1.73 |
1.54 |
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Return
On Net Worth(%) |
14.94 |
16.65 |
15.90 |
LOCAL AGENCY
FURTHER INFORMATION
BRANCH NETWORK:
During the year 2005-06 the bank
has opened one branch at Gingee, Tamilnadu. The Bank is planning to improve its
Branch network by opening branches at potential centres where business
development is identified and the necessary applications for licences have been
submitted to RBI.
PRODUCT INNOVATION, NEW PRODUCTS, NEW
SERVICES:
During the year products like
TMB-Car, TMB-Home, TMB-Education, TMB-Traders, TMB-Personal, TMB-Rentals,
TMB-Doctor, TMB-Two Wheeler, TMB-Education (Short Term), TMB-Mahalir, TMB-IPO
and TMB-Pension have been continuously fine tuned to suit the customers'
requirements. In addition new products viz. TMB-Tractor, TMB-Kisan Credit Card,
TMB-Easy Mortgage were also introduced. The bank has introduced TMB-Mini Vehicle
loan scheme aiming at small and medium business sector. The concerted efforts
have resulted in retail credit reaching a position of 16% of the total
advances.
The existing deposit products under Anywhere Banking scheme viz.
TMB-Diamond Current Account, TMB Platinum Current Account, TMB Gold Current
Account, TMB Silver Current Account, TMB-Pearl Current Account and TMB Premium
Savings Bank Account have been marketed intensively. The bank has introduced an
auto sweep fixed deposit facility in its TMB-VISA savings account. Bank has
also introduced an insurance linked recurring deposit 'Siranjeevee'. It has
also launched KIDS recurring deposit on 21.01.2006 for the benefit of children
and 'Santhosh' deposit scheme for the benefit of senior citizens on 08.03.2006.
As per the directions of RBI the Bank has launched 'No Frills' Savings Bank
account scheme to cater to the needs of the low income group who normally do
not have access to banking services. The scheme will enable individuals to open
a SB account with an initial deposit of as low as Rs.5/-. The Bank has become a
clearing banker of NCDEX with effect from 09.03.2006 and a Depository
Participant through NSDL since 22.03.2006. The Bank has also entered into a tie
up arrangement with National Collateral Management Services Ltd., to advance
against warehouse receipts since 19.08.2005.
The bank had introduced 'at par' DD drawing and cheque collection
arrangement with IDBI Bank Ltd. (55 locations) and HDFC Bank Ltd. (98
locations). The customers will get the benefit of 'No extra charge' towards
other banks' commission in 152 locations where the Bank's branches are not
located.
The bank has also a tie up arrangement with Western Union under which
Money Transfer facility from abroad is available in all the branches. Mutual
Fund Services are now being offered to customers of the bank by having tie up
arrangement with Prudential ICICI, UTI Bank, Reliance Capital Asset Management
Company Ltd., and Franklin Templeton Asset Management Company Ltd.
Performance
Highlights as at March 31, 2007
- Operating Profit for the year 2006-2007
was Rs.2312.000 Millions (increase of 18.98% over last year) up from
Rs.1943.200 Millions for 2005-2006.
- Net Profit of Rs.1057.800 Millions was
higher than that of the previous year at Rs.1011.900 Millions.
- Net owned funds increased to
Rs.7591.500 Millions from Rs.6567.900 Millions with an increase of 15.58%
over last year.
- Return on Equity stood at 14.94%
- The Board has proposed a dividend of
1000% for the shareholders subject to approval of the members at the
Annual General Meeting.
- Earning per Share is Rs.3719/- which
reflects the enhanced shareholders value.
- Capital Adequacy Ratio stood at 16.77%,
which is higher in the Banking Industry.
- Business volume was at Rs.100670.000 Millions
from Rs.83290.00 Millions up by 20.87% constituting Deposits of
Rs.60200.000 Millions and advances of Rs.40470.000 Millions.
- Deposits increased to Rs.60200.000
Millions from Rs.52030.000 Millions and recorded a growth of 15.70%.
- Advances increased to Rs.40470.000
Millions from Rs.31260.000 Millions and recorded a growth of 29.46%.
- C.D Ratio of the Bank improved to
67.23% from 60%.
- Return on Assets at 1.57%.
- Business per employee increased to
Rs.45.100 Millions from Rs.35.800 Millions.
- Profit per employee increased to Rs
0.476 Million from Rs.0.441 Million.
- Foreign Exchange Merchant Turnover
increased to Rs.3923 Millions from Rs.30760.000 Millions by registering
growth of 27.54%.
- Net NPA was brought down to 0.98% from
2.17%.
- Brought all the 183 branches under
FINACLE and achieved 100% networking.
- Servicing about 2 million delighted
customers.
- Facility to access over 12300+ ATMs
nationwide.
- 50 own ATMs in major cities.
- Introduced three new deposit schemes
with competitive rate of interest, i.e. TMB-555, TMB-444 & Tax Savings
Deposit Schemes (Malligai & Mullai).
- New loan products viz., TMB-SME credit
and TMB-Banana Cultivation under tissue culture were introduced.
- More thrust on helping the Rural Poor
through Self Help Group ? The Bank has doubled its advances to the SHGs,
i.e, from Rs.47.900 Millions to Rs.105.500 Millions which was benefited by
1507 SHGs.
- Thrust has been given to increase
Education Loan and in result the amount of advance has been increased to
Rs.135.200 Millions from Rs.71.600 Millions which was benefited by 1306
students.
- The Bank is actively participating in
Financial Inclusion to inculcate savings habit among the underprivileged
people and introduced TMB-Janatha Account (No Frill Account). The bank has
multiplied its force and so far opened 51298 accounts under the scheme
with balance of Rs.37.700 Millions. Previously it was only 3976 accounts
on 31.03.2006.
- Tie up arrangement with Franklin
Templeton Asset Management Company Ltd., in addition to the existing ICICI
Prudential, UTI & Reliance Capital Asset Management Companies to
distribute their Mutual Fund Products.
As Per
Web Site:
Generis & Growth
The history of Tamilnad Mercantile Bank Ltd., the then Nadar Bank Ltd., dates back to 1921. The thought of establishing a bank under the guidance of the able Nadar business community was mooted out in the Anniversary of Nadar Mahajana Sangam held at Tuticorin in 1920. The proposal was effected soon. The bank was registered on May 11, 1921 as "The Nadar Bank Ltd".
A group of dedicated men with shrewd acumen and sound integrity had been constituted as Board of Directors and they elected Shri. M.V. Shanmugavel Nadar as Chairman on Nov 04, 1921. The bank was opened by Shri. T.V. Balagurusamy Nadar, the then President of the Nadar Mahajana Sangam and the bank threw open its door to the public on Nov 11, 1921 at 9 a.m. in Ana Mavanna Building at South Raja Street, Tuticorin.
Management
Founder Directors of TMB
- Shri M.V. Shanmugavel Nadar
- Shri A.M.M. Sinnamani Nadar
- Shri AR.A. Shenbaga Nadar
- Shri K.A.M.A. Kalliapa Nadar
- Shri M.VE. Rathnasami Nadar
- Shri AR.A.S. Arumugasamy Nadar
- Shri T.V. Balagurusamy Nadar
- Shri P.K.S.A. Arumuga Nadar
- Shri M.S.P.A. Chidambara Nadar
The bank became a Scheduled Bank under the Reserve Bank of India Act on May 11, 1935. The Nadar Bank Ltd., changed its name to the Tamilnad Mercantile Bank Ltd., on November 26, 1962. Ever since the bank stands pre-eminently among the galaxy of banks in the private sector depicting scientific and sound functioning.
Excellence in Management
The bank has been fortunate in having very eminent and honest men of vision and great talent as Board of Directors and Executives. The ever increasing profit figures of the bank depicts the efficiency of the management. The bank, which was opened with a small capital of Rs. 0.500Millions, has an impeccable record of having a net worth of Rs. 6567.900 Millions as on March 31, 2006 making it a strong and sound bank.
Past & Present Chief Executives
The strong foundation was laid down by the Chief executives of the bank from the very beginning by their outstanding efficiency, devotional duty, able administration and profound knowledge.
In 1969, the Reserve Bank of India advised for the appointment of a whole time Chairman and Chief Executive Officer of the bank. The following persons have so far served in that post.
Past and Present Chairman of TMB
|
Chairman |
Period of Association |
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Shri R. Jeyaraj |
1969-1988 |
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Shri J. Kasiviswanathan |
1989-1991 |
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Shri M. Jesudasan |
1992-1996 |
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Shri K.N.V. Nayar |
1996-1997 |
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Shri S. Krishnamurthy |
1997-2002 |
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Shri R. Natarajan |
2002-2004 |
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Shri S. Radhakrishnan |
2004-2006 |
Past and Present MD / CEO at TMB
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MD and CEO |
Period of Association |
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Shri G. Narayana Moorthy |
Since Dec. 2006 |
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List of ATM Centers:
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Table showing the List of ATM Centers |
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Sr. |
Location |
Type |
Address |
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Above details about the ATM subject to change without notice. Please call / email us for the current updated details. |
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Guntur, Andhra Pradesh |
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1 |
Guntur |
Onsite |
Chinduru Mansion, 24-2-49, Chaparalavari Street, Patnam Bazzar, Guntur - 522 003 |
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Vijayawada, Andhra Pradesh |
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2 |
Vijayawada |
Onsite |
11-15-5, Vinnakottavari Street, 1 Floor, Vijayawada - 520 001 |
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Bangalore, Karnataka |
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3 |
Cantonment |
Onsite |
Mahalaxmi Chambers, 29, M.G.Road, Cantonment, Bangalore - 560 001. |
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Mumbai, Maharastra |
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4 |
Mumbai Sion |
Onsite |
Vandhana Scheme No.6 Road 25 Sion Circle |
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Pune, Maharastra |
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5 |
Magaprapetta |
Offsite |
Magaprpetta City, Hadapsar |
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Aruppukottai, Tamilnadu |
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6 |
Arupukottai |
Onsite |
25, Virudhunagar Main Road, Aruppukottai - 626 101. |
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Chennai, Tamilnadu |
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7 |
Anna Nagar |
Onsite |
AC-16, II Avenue, Anna Nagar, Chennai - 600 040. |
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8 |
S.S.N. College of Engg. |
Offsite |
S.S.N.College of Engineering,Old Mahabalipuram Rd., Kalavakkam, Chennai - 603 110. |
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9 |
T. Nagar |
Onsite |
25, Venkatnarayana Road, Park Center, T.Nagar, Chennai - 600 017. |
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10 |
Thiruvanmiyur |
Onsite |
No.3, Thiruvalluvar Salai, Opp. Bus Depot, Thiruvanmiyur, Chennai - 600 041. |
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11 |
Washermanpet |
Onsite |
No.20, G.A.Road, Old Washermanpet, Chennai - 600 021. |
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Coimbatore, Tamilnadu |
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12 |
Kumarapalayam Pudur |
Onsite |
Selvapuram, Coimbatore 641 026. |
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13 |
Main |
Onsite |
10/122, Big Bazaar Street, Coimbatore - 641 001. |
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14 |
R.S. Puram |
Onsite |
539-540,D.B.Road,R.S.Puram,Coimbatore - 641 002. |
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Dindigul, Tamilnadu |
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15 |
Salai Road |
Onsite |
9, Salai Road, Dindigul 624 001. |
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Erode, Tamilnadu |
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16 |
Periar Nagar |
Offsite |
Door No.H-32, Periyar Nagar,E.V.N.Road, Erode. |
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Kancheepuram, Tamilnadu |
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17 |
Kancheepuram |
Onsite |
No.52 ABC Vallal Pachaiyappan Street, Kancheepuram 1 |
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Karaikudi, Tamilnadu |
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18 |
New Town |
Offsite |
S.M.K.Complex,100 feet Road,New Town, Karaikudi. |
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Karur, Tamilnadu |
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|
19 |
Kovai Road |
Offsite |
D.No.1027, Transport House,(Near LGB Petrol Bunk), Kovai Road, Karur. |
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Kovilpatti, Tamilnadu |
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20 |
Kovilpatti |
Offsite |
Door No.1920,(Old.No.483-B), Main Road, Kovilpatti. |
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Madurai, Tamilnadu |
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|
21 |
Kamarajar Salai |
Offsite |
181, Kamarajar Salai, Madurai - 625 009. |
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22 |
Madurai Main Branch |
Onsite |
East Avani Moola Street |
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23 |
Nagamalai Pudukottai |
Offsite |
S.Vellaichamy Nadar College Campus, Nagamalai Pudukottai, Madurai - 625 019. |
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24 |
Vasantha Nagar |
Offsite |
D.No.44, Thiruparankundram Road, Vasantha Nagar, Madurai - 625 003. |
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Marthandam, Tamilnadu |
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25 |
Marthandam |
Onsite |
2/24-2 Annex Vin Complex, Trivandrum Main Road, Marthandam 629 165. |
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Nagerkoil, Tamilnadu |
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|
26 |
Nagercoil |
Onsite |
229-1,Charles Miller Street, College Road, Nagercoil - 629 001. |
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Namakkal, Tamilnadu |
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27 |
Namakkal |
Offsite |
17, Paramathy Main Road, Opp. Municpal Office, Namakkal 637 001. |
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Pollachi, Tamilnadu |
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28 |
Pollachi |
Offsite |
Udumalai Road |
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Rajapalayam, Tamilnadu |
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29 |
Tenkasi Road |
Offsite |
Door No.255, Tenkasi Road, Rajapalayam - 626 117. |
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Salem, Tamilnadu |
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|
30 |
Guhai |
Offsite |
D.No.68, Trichy Main Road, Guhai, Salem. |
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Sivakasi, Tamilnadu |
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|
31 |
Mepco College Extn. Counter |
Onsite |
Mepco Schlenk Engg. College, Mepco Nagar, Sivakasi - 626 005. |
|
32 |
Sivalasi - Bazaar |
Offsite |
34,South Car Street, Sivakasi - 626 123. |
|
33 |
Velayutham Road |
Offsite |
D.No.43-B,Velayutham Road, Sivakasi - 626123. |
|
Tenkasi, Tamilnadu |
|||
|
34 |
Tenkasi - Pavoorchatram |
Offsite |
D.No.3G/3, TALCL Arumugasamy Nadar Complex, Old Bus Stand Road, Tenkasi 627 811. |
|
Thanjavur, Tamilnadu |
|||
|
35 |
Thanjavur Main |
Onsite |
941 East Main Road, Thanjavur 613 001 |
|
Theni, Tamilnadu |
|||
|
36 |
Madurai Road |
Offsite |
S.No.503/1,Door No.203,109/A, Madurai Road, Theni - 626 531. |
|
Thiruvarur, Tamilnadu |
|||
|
37 |
Thiruvarur |
Onsite |
29, 29/1 Pallivasal Street, Thiruvarur - 610 001 |
|
Thoothukudi, Tamilnadu |
|||
|
38 |
Sipcot |
Onsite |
No.97/H/30, Ground Floor, Palayamkottai Road, Thoothukudi - 628 008. |
|
39 |
South |
Onsite |
283, W.G.C. Road, Thoothukudi - 628 002. |
|
40 |
SPIC Nagar |
Offsite |
5/664, SPIC Nagar, Thoothukudi - 628 005. |
|
41 |
Thiruchendur Road |
Onsite |
50/2 Thiruchendur Road, Thoothukudi 628 003 |
|
42 |
Thoothukudi Main |
Onsite |
56 & 57, Beach Road, Thoothukudi 628 001 |
|
Tirunelveli, Tamilnadu |
|||
|
43 |
Palayamkottai |
Onsite |
St. John's College Campus, Water Tank Road, Palayamkottai - 627 002. |
|
44 |
Vanarpettai |
Offsite |
A.R.A.S.P.V.P.V. Building,10-D, Trivandrum Road, Vannarpettai, Tirunelveli - 627 001. |
|
Trichy, Tamilnadu |
|||
|
45 |
Thillai Nagar |
Offsite |
Vedham Towers, D-40, Shastri Road, 7th Cross Corner, Tiruchirapalli 620 018 |
|
Uslampatti, Tamilnadu |
|||
|
46 |
Usilampatti |
Onsite |
93 Madurai Main Road, Usilampatti 625 532 |
|
Vellore, Tamilnadu |
|||
|
47 |
Thottapalayam |
Offsite |
Popular Petrol Bunk, 1/19, Katpadi Road, Vellore - 632 004 |
|
Villupuram, Tamilnadu |
|||
|
48 |
Trichy Trunk Road |
Offsite |
D.No.19/21, M/s.HPCL Ltd., Trichy Trunk Road, Villupuram - 605 602. |
|
Virudhunagar, Tamilnadu |
|||
|
49 |
Theppam |
Offsite |
D.No.197, Theppam North Bazaar, Virudhunagar - 626 001. |
|
50 |
Virudhunagar |
Onsite |
280, Madurai Road, Virudhunagar 626 001 |
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.39.33 |
|
UK Pound |
1 |
Rs.81.70 |
|
Euro |
1 |
Rs.57.67 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
9 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
10 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
9 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
9 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
81 |
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 |
|