MIRA
INFORM REPORT
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Report Date : |
06.10.2007 |
IDENTIFICATION DETAILS
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Name : |
RAJASTHAN MEDICARE RELIEF SOCIETY |
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Registered Office : |
M B Govt, |
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Country : |
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Date of Incorporation : |
1995 |
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Legal Form : |
Non Profit Making Society |
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Line of Business : |
Subject is engaged in Financing Public Health Services |
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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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a non profit making society under the cooperative society’s
Act. It runs for the good cause of the people at large. Trade relations are fair. Nothing adverse reported. Payments are usually correct and as per commitments. It can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
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Registered Office : |
M B Govt, |
MANAGEMENT
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Name : |
Dr. N.K. Mathur |
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Designation : |
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Tel No. : |
91-141-2702106 |
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Name : |
Dr. Ajit Bapna |
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Designation : |
Retired HOD E and NT, |
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Mobile No. : |
91-9829016765 |
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Tel No. : |
91-141-2562646 |
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Name : |
Dr. S C Mathur |
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Designation : |
Director SIHFW |
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Tel No. : |
91-141-2708534 / 2706496 / 2701938 |
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Name : |
Dr. O.P. Gupta |
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Designation : |
Director, Public Health |
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Tel No. : |
91-141-2229858 |
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Name : |
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Designation : |
Director, Indian Institute of Health Management Research (IIHMR) |
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Name : |
Dr. Manoj Saxena |
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Designation : |
CHC in charge |
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Tel No. : |
91-2934-286681 |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in Financing Public Health Services |
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GENERAL INFORMATION
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Bankers : |
Not Available |
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CAPITAL STRUCTURE
Not Available
LOCAL AGENCY FURTHER INFORMATION
History
Background:
In order to make public health care services sustainable, various options such
as pay clinics and auto finance schemes have been explored by State governments
since the 1980s. However, these schemes became dysfunctional due to a lack of interest
among doctors and institutions and a lack of incentive to generate revenue,
since all revenue from these schemes went to the State treasury. But dwindling
resources in the public sector coupled with a lack of maintenance of
infrastructure and equipment necessitated the Rajasthan Health and Family
Welfare department to set up autonomous societies in medical colleges and other
health facilities from 1995. The initiative aimed to encourage alternative
sources of health financing through user-fee schemes and in-hospital
pharmacies. This strategy was first started in a tertiary level hospital, SMS
hospital, Jaipur and its success led to its replication in other medical
colleges, district hospital and sub-divisional hospitals. The success of this
initiative has led the
Action:
Following the drafting of a constitution and rules of the society, seed money
of Rs 1.200 millions was given to the medical college hospitals; Rs.0.200
million to district hospitals. Guidelines and orders were issued to ensure
effective functioning of these societies. RMRS was allowed to collect the
revenue of user fees from patients’ hospitalised and out-patient department and
laboratory, as well as from donations, and contracting out of space. Purchase
of hospital equipment was permitted and the government contributed half the
cost if the other half was obtained through public contributions.
In 1998 guidelines were issued for utilization of revenue generated by the
societies; 50% could be used for purchase of equipment, while the other half
had to be spent on provision of facilities to patients, cleanliness, and
purchase of instruments. Detailed guidelines for purchase, maintenance and
repair works were also issued.
In 1996, the RMRS was scaled up to cover all hospitals with 100 beds. All
equipment used under the auto finance scheme was transferred to a society which
would be responsible for its maintenance. Amendments were also made to the
Rajasthan civil service (Medical Attendance) Rules, 1970, so as to allow
re-imbursement of the charges paid by government employees to the RMRS for
diagnostic tests and investigations. A regular audit of accounts was also
ordered, along with the exemption of donations received from income tax.
The management structure of the societies is autonomous and consists of 9 to 11
officials and non-officials at State, Regional and district levels. The Society
functions outside the purview of the State, the General Financial Rules (GFR)
do not apply and it can purchase equipment according to its own requirements.
Mainly, the funds in RMRS are used for maintenance and renovation of buildings,
maintenance and repair of equipment, purchase of new equipment, improving
sanitation and cleanliness, improving other facilities for patients and
attendants, computerization of various systems and provision of free medicines
for below poverty line (BPL) families.
The source of funds for the Society includes seed money from the State
Government and transfer of operational control of diagnostic machines. Free
services are provided to certain sections of the population as stipulated in
the Government Order. These include, families living below the poverty line,
widows, freedom fighters, destitute people, citizens over 70 years and retired
government servants. Charges are as follows
i) Average OPD chargers.Rs. 2 .
ii) Inpatient charges Rs. 5 .
iii) In-patient referral by private practitioners. Rs. 10.
iv) Bed charges for private rooms, cubicles or cottage wards from Rs. 50 to 600
depending upon the type of facility.
Management training has been organised for RMRS senior managers on guidelines,
stock keeping and accounting. The training programme was coordinated by State
Institute of Health Family Welfare. Studies have also been carried out to
assess the functioning of RMRS by IIHMR, Jaipur and SIHFW, Rajasthan.
Accounting software for medical colleges and big hospitals and an operational
manual which includes the audit process have been completed. The National
Informatics Centre, Rajasthan, is developing the software for CHCs.
Results:
In 2003 CHC Sadri, Pali constituted an RMRS with seed money from the European
commission. The money generated through user charges was used for repairing the
building, construction of cottage wards, buying furniture, petromax (used
during load-shedding) construction of stores, paying honorariums to staff for
extra work, providing medicines for BPL families.
During the quarterly meeting, besides RMRS members there were also
representatives from major political parties in the area and the CHC takes
approval for the use of funds (for further details see minutes of the meeting
available in the documents and illustration section). Before the presentation
of any new proposal is presented, needs assessment is done. Availability of
funds and discretion to use them for improving the quality of care is a source
of confidence for the CHC staff as they can plan what is required for the
functioning of the facility. The funds from the RMRS helped the CHC to make a
life line store operational. The training given by SIHFW was found useful by
the CHC in-charge and that helped them to handle the issues concerning running
the RMRS.
The setting up of an RMRS in CHCs and PHCs is a recent phenomenon and therefore
little documentation on the impact of this initiative on increasing the access
to services is yet available. However, a study done by SIHFW on RMRS does
mention the achievements or improvements by RMRS (see documents and
illustration section). In order to strengthen RMRS a monitoring cell was set up
at the state level in 2004.
imbursement of the charges paid by government employees to the RMRS for
diagnostic tests and investigations. A regular audit of accounts was also
ordered, along with the exemption of donations received from income tax.
The management structure of the societies is autonomous and consists of 9 to 11
officials and non-officials at State, Regional and district levels. The Society
functions outside the purview of the State, the General Financial Rules (GFR)
do not apply and it can purchase equipment according to its own requirements.
Mainly, the funds in RMRS are used for maintenance and renovation of buildings,
maintenance and repair of equipment, purchase of new equipment, improving
sanitation and cleanliness, improving other facilities for patients and
attendants, computerization of various systems and provision of free medicines
for below poverty line (BPL) families.
Cost
In the tribal and semi-desert districts
(Jaisalmer, Barmer, Jalore, Nagaur,
Time to set up - One year.
Advantages –
³
Revenue generation: Increased availability of
financial resources to hospitals from renting of parking areas, auditoriums,
contracting out the administration of canteens.
³
Financial Autonomy: Each society is authorised to purchase items ranging from
Rs. 0.001 to 0.010 million though the State’s guidelines suggest that
institutional heads have authority to make decisions regarding expenses less
than Rs. 0.005 million
³
Improved efficiency in the system: The society can follow the State’s
established government financial and accounting rules or their own purchasing
procedures.
³
Cost recovery: Multiple sources of supplementary financing are available and
user charges are levied for a full range of services. Exemptions are judicious.
Challenges –
Management skills: Continuous enhancement of
the management capabilities of hospital administrators, systems and procedures
of procurement, maintenance of equipment and hospital buildings as well as
contracting and outsourcing is necessary for smooth functioning of RMRS.
Maintenance: A lack of clear policy regarding with whom rests the
decision-making authority for repair and maintenance. A study found 53%
societies report difficulty in repairing and maintaining equipment.
User charges: Procedures for exemption of user charges to vulnerable groups are
usually informal and discretionary. Increase in proportion of patients visiting
the health facility will make it difficult for RMRS to spend money on upgrading
services.
Utilization of RMRS funds: Hospital managers fail to spend the generated
revenue efficiently, as most of spending is on equipment in absence of trained
personnel to operate the machines. So there is under-utilization of machines.
Subsidy: The government subsidies to hospitals have not declined because of the
transfer of matching grants to participating hospitals. So, it has not relieved
the state’s burden.
Monitoring: Regular systemic monitoring of the RMRS has to be undertaken at all
levels.
Prerequisites
Training of
society officials regarding objectives of the society, guidelines governing the
societies, budgeting, accounting, management information systems, pricing and
needs assessment.
Managerial guidelines should be in place. Facilitation of purchase of
equipment, rationalising pricing schemes.
Expert committee to resolve issues and problems.
Continuous monitoring of the functioning of RMRS.
Sustainability
The programme is
sustainable. Under NRHM, each year now INR 1 lakhs will be transferred to these
societies as untied funds.
Chances of
Replication
The innovative scheme was started in
Rajasthan in one government hospital and later replicated in other facilities
up to CHC level. (By March 2003, the number of RMRS in Rajasthan has reached to
301 which includes 16 RMRS in the Medical College Hospitals, 58 in the District
Hospitals and 217 at the level of CHCs).Now government is going to start such
societies in Model PHC across Rajasthan
³ Programs Initiated
by Medical and Health Department of Rajasthan
1. Chief Minister Jeevan Raksha Kosh :
Chief Minister
Jeevan Raksha Kosh provides an aid to the people living under poverty line and
are affected by serious illness so that they can be treated in government
hospitals. Diseases which can not be treated in government hospitals of
Rajasthan, in such cases aid is provided by All India Institute of Medical
Sciences(AIIMS).
The Rajasthan
government has allocated Rs. 240.000 millions to this fund and has received an
aid of about 25.000 millions from the central government. The Rajasthan
government is trying to obtain another 95.000 millions aid from central
government. With the help of this fund 2013 people living below poverty line
have been benefited till January 2003. An amount of Rs. 100.779 millions has
been spent on their medication
People who are not
below poverty line but those who have yearly income not above Rs. 24000/-, in
such cases for medication like heart bypass surgery/valves change/kidney
transplant and cancer, aid is provided from Chief Minister’s Relief Fund
according to certain rules or 40% of the amount spent in the treatment,
whichever is less and later this amount is returned to the Chief Minister’s
Relief Fund by the Jeevan Raksha Fund. The amount that was returned to Chief
Minister’s Relief Fund by Chief Minister’s Jeevan Raksha Kosh till January 2003
was about 107.189 millions that aided about 3802 people.
2. Medicare Relief Card :
In November 1999, for the first time in Rajasthan interested people of
the families below poverty line and the people suffering from serious illnesses
were benefited by this scheme. Under this scheme the people of the families
below poverty line are provided health and medical facilities free of cost in
all government hospitals.
Achievements :
A total of
23,01,058 selected families were distributed the Medicare Relief Cards. The
description of the health facilities provided to the people having cards is listed
below in the table:
Table :
|
YEAR |
Chief Minister's Jivan Raksha kosh |
Chief Minister's Releif Fund |
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|
labhanvit peoples |
Amount(millions.) |
labhanvit peoples |
Amount(LAKH rs.) |
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|
1999-2000 |
67 |
4.806 |
- |
- |
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2000-2001 |
280 |
18.456 |
636 |
189.965 |
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2001-2002 |
780 |
41.908 |
1405 |
377.900 |
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2002-2003(upto jan 2003) |
886 |
36.509 |
1761 |
504.025 |
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TOTAL |
2013 |
100.779 |
3802 |
1071.89 |
3. Medicare
Relief Society :
To provide the citizens
of Rajasthan with latest health detection and treatment facilities without any
hindrance the state government, as per the orders dated 26.09.1995 established
in the beginning a total of 55 Rajasthan Medicare Relief Societies in all
hospitals relating to the medical colleges and the district hospitals. For the
proper functioning of these societies, a total of 42.080 millions of margin
money was allocated in the years 1995-96 to 1997-98. Viewing to the success of
the scheme the state government according to the orders dated 25.01.1998, took
a decision to establish Medicare Relief Societies in district hospitals having
less than 100 beds and in social health center, so that the citizens of the
state can have treatment and specialist care at cheaper rates. In this manner,
in different steps Medicare Relief Societies were established at the hospitals
having about 30 beds.
Till January 2003 a total of 301 Medicare Relief Societies have been
established that have been registered in 16 hospitals affiliated to medical
colleges, 58 district hospitals, and 227 referral and social health centers.
From the total income acquired from the Medicare Relief Societies, 25%
of it is utilized in providing free medicines to the people below poverty line
having Medicare Relief Card. The society is providing health services free of
cost to the widows, the orphans, the senior citizens above 70 years of age and
to the prisoners.
4. National Cancer Control Program :
The Indian government selected 10 districts of the state to run the
cancer control program and so as such allocated a budget of Rs 15.000 millions.
Rs. 1.5 millions is allocated to every one of the districts selected, from the
budget.
The 10 selected districts are :
- Siker
- Boondi
- Baran
- Dungerpur
- Banswara
- Badmer
- Jalaur
- Shreeganganagar
- Nagaur
- Churu
In the year
2000-2001, the budget of Rs. 15.000 millions was allocated to the head office
and the districts from which an amount of Rs. 3.392 millions was spent and the
remaining of Rs. 11.607 millions was returned. For the years 2001-2002 the
state demanded 11.600 millions from the central government for which
administrative and financial permission was obtained on 18 feb. 2002. From this
an amount of 0.619 millions were spent by D.G.S. and D. to obtain bino-microscopes
at reasonable rates for 31 district, referral hospitals and for social health
care centers and to provide training to the surgeons as well as 40 other senior
and junior gynecologist, pathologist of these 10 districts at Bhagvan Mahavir
Cancer Hospital and Research Center.
Permission for the
allocation of amount of 10.969 millions of rupees has been obtained from the
Indian Government. Out of which 2.325 millions is spent in making a semi ICU in
the radiotherapy ward of SMS medical college jaipur. Another 0.600 million. Is
allocated to
5. National Leprosy Eradication Program :
The National
Leprosy Eradication Program was started in the state of Rajasthan with the aid
of the central government in the year 1970-71. Presently, this program is being
carried out by the state and the central government working unanimous.
The main aims of the program :
- To cure leprosy at its initial stage.
- To cure the infected people so that the spread of the infection can
be prevented.
- To prevent handicap by regular medication.
- To make the patients a beneficial citizens of the society by curing
the disabilities.
- Spreading education so as to remove any misconceptions regarding the
disease in the society.
Keeping the aims of the program in mind, a department has been
established at the state level under the leprosy officer. Along with this, the
following units are working in the state:
|
1. |
District Leprosy
Officer : |
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2. |
District Leprosy
Officer : |
Bharatpur,
Boondi, jalawar, |
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3. |
Urban |
Jaipur, |
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4. |
20 bedded
Leprosy wards : |
Jaipur, |
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5. |
|
Jaipur, |
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6. |
District Leprosy
Skeleton Units : |
Ajmer, Alwar, Barmer,
Banswara, Bheelwara, Beekaner, Chitaurgarh, Dausa, Dhaulpur, Dungerpur,
Hanumanghar, Jaisalmer, Jalaur, Jhunjhunu, Pali, Karauli, Rajsamband, Sirohi,
Sawaimadhavpur and Tonk. |
|
Apart from these, several social service organizations are working in
accordance to the Leprosy Eradication Program. There is a provision of
providing Rs. 200 per month per bed to these organizations.
According to
spread rate of the disease, there were a total of 52,054 expected patients in
the state out of which by December 2002, 50,458 patients were recognized and
treated of which successful completion of treatment have been achieved in case
of 46,060 patients. They are now fully cured. Presently 4,398 are receiving the
treatment. However 1,596 patients still need to be searched
The Indian
government with the help of the aid from the World Bank has started of multi
medicine treatment program in 32 districts of Rajasthan. The first phase of the
program ended in September 2000. Permission for the second phase of the program
has been obtained from the central government for duration of 3 years till
March 2004. So, in all 32 districts of the state the mobile leprosy units under
the District Leprosy Eradication Society are recognizing and curing the
disease. The head of this society is the ?. With the help of this program, this
year complete eradication of leprosy has to be achieved.
According to multi medicine program the districts are divided into
following categories :
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1. |
District with
mid spreadrate(>1) : |
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|
2. |
District with
less spread rate(upto 1) : |
Bharatpur,
Boondi, jalawar, Udaipur, Shreeganganagar, Kota |
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3. |
District with
minimum spread rate : |
which includes
remaining 22 districts which have not been included above |
Table :
|
YEAR |
Paitents
identified as Suffering from Leprocy and Treatment |
Paitents Cured
after the Treatment |
Infection Spread
% per 10,000 population |
||||
|
Aim |
result |
% Result |
Aim |
result |
% Result |
||
|
1998-1999 |
850 |
2797 |
329.05 |
8000 |
3538 |
44.22 |
1.87 |
|
1999-2000 |
2500 |
2689 |
107.56 |
12000 |
6977 |
58.14 |
1.08 |
|
2000-2001 |
1200 |
2033 |
169.41 |
7000 |
3679 |
52.56 |
0.82 |
|
2001-2002 |
1200 |
2051 |
170.92 |
5000 |
2070 |
41.40 |
0.78 |
|
2002-2003 (upto
december 2002) |
800 |
1542 |
192.75 |
5000 |
1428 |
28.56 |
0.78 |
6. National Blindness Control Program :
Due to the increased
percentage of blinds in the state of Rajasthan, the government of
Achievements of the program during the years 1994-2002:
³ Establishment and registration of State Blindness Control Society.
³ Establishment of registration of District Blindness Control Society in all 32 districts of Rajasthan.
³ Upliftment of ophthalmologic department of all the six medical colleges by providing instruments and devices.
³ The 19 District hospitals and 228 Primary health centers have been uplifted and provided with resources.
³ All the eye specialists of each and every medical college and district hospital are to be given the training for eye transplant (E.C.C.E/I.O.L). till now 108 eye specialists have been trained.
³ Camps for the cataract operation are being organized unanimously by different social service groups, district blindness control society and district mobile units for the residents of the far off places .the social service groups are given Rs 400/- for the cataract operation and Rs 600/-for lens transplant .In the eye camps this money is used to provide free medicines ,lodging facility as well as glasses to the patients. static centers has been made at 75 places where eye operations are done at scheduled dates.
³ According to the program there is an aim to build 44 operation theaters,44 beded wards and 296 dark rooms.out of which 44 operation theaters and 44 wards have been constructed by the housing society .the construction of dark rooms in 204 places has also been completed.
Table :
|
YEAR |
Target for Eye
Opration |
Catarct Eye
Opration |
% Aim |
No of Eye Camp |
||
|
Traditional Eye
Operation |
With |
Total |
||||
|
1998-1999 |
197200 |
129160 |
47795 |
176955 |
89.73 |
1648 |
|
1999-2000 |
194000 |
121846 |
66571 |
188417 |
97.12 |
1229 |
|
2000-2001 |
210000 |
104599 |
80437 |
185036 |
88.11 |
1713 |
|
2001-2002 |
210000 |
91445 |
105390 |
196835 |
93.73 |
1641 |
|
2002-2003(upto
december 2002) |
220000 |
49694 |
72743 |
122437 |
55.65 |
929 |
7. Revised National Tuberculosis Control Program :
With the aid of
the World Bank, technical guidance of the World Health Organization and in
collaboration with the TB department of India under the Revised national
Tuberculosis Control Program a procedure named as directly observation
treatment short(DOTS)was started as pilot project in the year 1995 at jaipur
.Under this a patient has to takeanti TB medication under doctors observation
for 6-8 months. Viewing the quality of the program and the exciting results the
state government initiated this program in January,2001 and was activated in
the entire state.
The program costing about a 1000.000 millions is benefiting the entire
state.under this program quality eradication and medication is assured such
that the patients can be provided with regular and complete medication free of
cost from the nearby health center, social service group, personal doctors and
social workers.
According to the revised program there is a provision of providing TB patients
a free check up and medication facility so as such the structure of the
services has been reframed as:-
|
1. |
National TB
control department |
1 |
|
2. |
State TB
demonstration and training center, |
1 |
|
3. |
District TB control
center |
32(in every
state) |
|
4. |
Sub district TB
control center |
2(Churu,
Pratapgarh) |
|
5. |
TB
unit |
143(90 in normal
areas one between the population of 5lakh ,31 in deserts, and 22 in tribal
areas per population of 2.50) |
|
6. |
Microscopy
centers |
650 in normal
areas(per 1 lakh population)and in desert and tribal areas(per 50000
population) |
|
7. |
Cure
centers |
1843(per 20-30
thousand population) |
|
8. |
Sub
centers/treatment observation point |
11296(per 3-5 thousand
population) |
Table 1 :
|
YEAR |
Search for New T
B Paitents |
Spit Test |
||||
|
Target |
Achived |
% |
Target |
Achived |
% |
|
|
1998-1999 |
69800 |
60678 |
86.93 |
232650 |
134818 |
57.95 |
|
1999-2000 |
69800 |
81500 |
116.76 |
232650 |
80498 |
34.60 |
Table 2 :
|
YEAR |
Search for New T
B Paitents |
Annual Rate of
detection of the new T B Paitents(135 per Lakh per yr) |
convergance rate
|
Cured Rate |
|||||
|
Target |
Achived |
% |
Target |
Achived |
Target |
Achived |
Target |
Achived |
|
|
2000 |
39093 |
39890 |
102 |
135 |
137.75 |
90% |
87.85 |
85% |
84.25 |
|
2001 |
76140 |
84390 |
110 |
135 |
151.8 |
90% |
89.5 |
85% |
85.2 |
|
2002 |
76140 |
93399 |
122.66 |
135 |
167.33 |
90% |
90.8 |
85% |
85.33 |
8. National Anti Malaria Program :
In view to make
anti malaria program more effective and progressive the anti malaria program of
the year 2001 was revised and implemented for the year 2002.under this scheme
all the activities of pertaining to anti malaria have been time bound and
scheduled from state level to sub health centers.
According to the
statistics for three years provided by the sub health centers of the districts
7.985 millions of the population was sensitive to the disease, so as such to prevent
the spread of the female anopheles in the year 2002,DDT was sprayed regularly
in two phases in first phase starting from 15th of may to 31st of July and
second phase starting from 1st august to 15th October
For the survey,
removal and immediate treatment of malaria, 20313 free of cost medicine
distribution centers, 2184 fever cure centers, 1521 malaria clinics and 197
mobile teams are working. The facility for immediate treatment and follow up of
the P.F patients was strengthened so that the deaths due to P.F malaria could
be stopped. To make the anti Larva activities more effective, sufficient aid is
being provided to special districts with which the anti larva activities are
strengthened thereby stopping the breeding of mosquitoes.
From 01.04.2002 to
14.05.2005 first malaria crash program was organized in 20 districts costing
0.480 millions and second malaria crash program was organized in 19 districts
costing 0.969 millions under the district collector.
To increase the
activities to check the spread of malaria after the monsoons detailed
directions have been given to all the districts under which officers/workers
have been posted to the areas identified as sensitive to unsure proper
functioning and strengthening of the program. Moreover districts in particular
have been assigned to the director level and deputy director level officers to
provide momentum to the anti malaria campaign.
9. World
Bank Aided Enhanced Malaria Control Project:
The enhanced
malaria control project of the Indian government that is being aided by the
World Bank selected a population of 4.950 millions of 34 block primary health
centers of the 10 districts (banswara,
baran,bhilwada,bundi,chitorgarh,dungarpur,jhalawad, rajasmand, sirohi, udaipur)
have been selected along with jodhpur and bharatpur. According to the
directions issued by the Indian government District Malaria Control
Organizations have been established in the above 10 districts. In accordance
with the project for the effective control of malaria 26.500 millions of rupees
have been allocated in March 2002 for the regular purchase of laboratory
equipments as micro slides, spirit, pricking needle and expenditure on
insecticide spraying team and construction of hatcheries .up to December 2002 ,
20.161millions of rupees have been spent
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including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.39.49 |
|
|
1 |
Rs.80.41 |
|
Euro |
1 |
Rs.55.76 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history (10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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. |
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 |
|