MIRA
INFORM REPORT
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Report Date : |
15.10.2007 |
IDENTIFICATION DETAILS
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Name : |
BOMRAH INDUSTREIS |
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Registered Office : |
6 / 5A, Kirti Nagar Industrial Area, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1980 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELB05978A |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the partners |
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Line of Business : |
Manufacturer and Exporter of starter drives, car starter
drives, auto starter drives, starter drive assemblies, self starter drive
assemblies for various automobiles. |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 3356 |
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Status : |
Good |
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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 concern having satisfactory track.
Partners 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 concern can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
6 / 5A, Kirti Nagar Industrial Area, |
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Tel. No.: |
91-11-45401223 / 45401224 / 45401225 |
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Mobile No.: |
91-9811150031 / 9810115963 / 9310054942 |
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Fax No.: |
91-11-45401226 |
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E-Mail : |
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Area : |
240sq.mtrs |
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Location : |
Owned |
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PARTNERS
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Name : |
Mr. Gulzar Singh |
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Designation : |
Partner |
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Date of Birth/Age : |
49 years |
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Qualification : |
Graduate |
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Experience : |
27 years |
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Name : |
Mr. Balkar Singh |
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Designation : |
Partner |
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Date of Birth/Age : |
46 years |
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Qualification : |
Graduate |
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Experience : |
23 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of starter drives, car starter drives, auto starter drives, starter drive assemblies, self starter drive assemblies for various automobiles. |
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Products : |
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Exports : |
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Products : |
All the above products |
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Countries : |
Europe, |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Suppliers : |
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Hargobind Steel Corporation ˛
Hursh Enterprises ˛
J.B. Sales Corporation ˛
Jain Enterprises ˛
Alloy and Steel Enterprises ˛
Dimpy Engineering Works ˛
J.H. Industries ˛
JMD International ˛
Prem Steels ˛
S.J. Distributors ˛
S.K. Engineering Works ˛
Singh Tools and Machinery ˛
Vardhman Metals ˛
Bhalla Sales Corporation |
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Customers : |
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Auto Lgnition Limited ˛
PMP Components Limited ˛
Auto Part Distributors ˛
Bindra Motors Private Limited ˛
JDC Global ˛
Jumps Auto Industries ˛
Kapoor Tools ˛
Dixix Electrical Limited ˛
Acne Auto Private Limited ˛
Konsales Industries ˛
Real S.P.A ˛
Windser Exports |
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No. of Employees : |
35 |
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Bankers : |
Bank of Kirti Nagar, |
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Facilities : |
Rs.4.000 millions |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
Guru Nanak Forging Private Limited Factory Address: B – 33 / 34, Focal Point, Chanlon, Kurali, Tel No.: 91-160-2642377 CIN: U28910DL1997PTC084326 Registered On: 08.01.1997 Authorised capital: Rs.10.000 millions Paid Up Capital: Rs.4.150 millions STO: Rs.60.000 millions Employees: 50 Activity: Manufacturer and
Exporter of starter drives, car starter drives, auto starter drives, starter
drive assemblies, self starter drive assemblies for various automobiles. |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.2.600 millions |
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Borrowed : |
- |
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Total : |
Rs.2.600 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 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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2.628 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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2.628 |
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LOAN FUNDS |
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1] Secured Loans |
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3.996 |
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2] Unsecured Loans |
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0.775 |
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TOTAL BORROWING |
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4.771 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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7.399 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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6.637 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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4.126 |
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Sundry Debtors |
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9.076 |
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Cash & Bank Balances |
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0.415 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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1.339 |
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Total
Current Assets |
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14.956 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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13.975 |
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Provisions |
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0.219 |
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Total
Current Liabilities |
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14.194 |
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Net Current Assets |
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0.762 |
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MISCELLANEOUS EXPENSES |
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0.000 |
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TOTAL |
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7.399 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
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Sales Turnover |
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36.715 |
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Other Income |
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0.004 |
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Total Income |
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36.719 |
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Profit/(Loss) Before Tax |
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0.839 |
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Provision for Taxation |
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0.000 |
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Profit/(Loss) After Tax |
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0.839 |
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Expenditures : |
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Administrative Expenses |
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1.449 |
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Purchases made for re-sale |
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30.861 |
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Salaries, Wages, Bonus, etc. |
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0.208 |
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Interest |
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0.399 |
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Insurance Expenses |
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0.028 |
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Depreciation & Amortization |
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0.812 |
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Other Expenditure |
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1.600 |
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Total Expenditure |
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35.357 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
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PAT / Total Income |
(%) |
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2.28 |
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Net Profit Margin (PBT/Sales) |
(%) |
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2.28 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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3.88 |
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Return on Investment (ROI) (PBT/Networth) |
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0.31 |
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Debt Equity Ratio (Total Liability/Networth) |
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5.40 |
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Current Ratio (Current Asset/Current Liability) |
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1.05 |
LOCAL AGENCY FURTHER INFORMATION
As Per Web Details
Profile:
Subject is a widely recognized organization
engaged in the manufacture of auto electric parts. They specialize in producing
Starter-Gear-Drive-Assembly suitable for replacement market & O.E.Ms.
Quality &
Testing Facilities
Their passion for
excellence and commitment to quality guarantee that all their products and
services are delivered to provide total customer satisfaction. They start with
a stringent criterion when it comes to selection of vendors and treat their
vendors as not just suppliers but partners in future growth. They conduct
rigorous quality inspections for in-coming and outgoing quality inspections for
all their products.
Their company relies heavily on the response received from clients which serves
as a post-delivery feedback from their valued clients. Their greatest strength
is the ability to pay attention to detail as it has helped them produce
flawless products. They boast of a world class product analysis and reliability
testing lab which constitutes their testing facilities. A thorough
understanding of International Quality standards has resulted in their company
getting quite a few of the prestigious certifications which validate the
genuine quality of their products.
Plant and Machineries
They have all necessary machinery and
equipment required for the design, manufacture and testing of cold/hot forged
& precision machined components from incoming raw material testing to final
inspection and testing. They confirm having spare capacity for the following
industrial processes:
» In-house physical testing & chemical analysis of a wide range of raw
material and products.
» Cold Forging / Hot Forging.
» Manufacture of various components / parts involving machining work on CNC and
conventional Lathe
Machines.
Business Policy And Aim
It has been a business policy of Subject to
constantly invest in new technologies, equipment and quality assurance programs
to offer high quality products and services. They are always ready to adapt new
technologies and accept new challenge. Their ultimate aim is customer's
satisfaction through quality, timely delivery and services.
Market Performance
"BI" products are commercialized
and established in the entire domestic market. Their products are also in high
demand in countries all over the world through the OEMs (Original Equipment
Manufacturer) for use as 'Ready Replacement Products'. mollit anim id est
laborum."
They are sure to cater to your requirements also. Send in your queries and they
will get back to you in the shortest possible time.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.39.33 |
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1 |
Rs.79.74 |
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Euro |
1 |
Rs.55.74 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
7 |
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PAID-UP CAPITAL |
1~10 |
7 |
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OPERATING SCALE |
1~10 |
7 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
8 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
7 |
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--LEVERAGE |
1~10 |
7 |
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--RESERVES |
1~10 |
7 |
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--CREDIT LINES |
1~10 |
7 |
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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 |
YES |
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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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63 |
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. |
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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