MIRA
INFORM REPORT
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Report Date : |
05.09.2007 |
IDENTIFICATION DETAILS
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Name : |
PARIKH PACKAGING PRIVATE LIMITED |
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Registered Office : |
Opposite Rotomac Pens, Sarkhej Bavla Highway, Village Moraiya, Taluka –
sanand, Anand – 382213, Gujarat. |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
22.10.1999 |
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Com. Reg. No.: |
04-36763 |
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CIN No.: [Company
Identification No.] |
U25209GJ1999PTC036763 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMP00631B |
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PAN No.: [Permanent
Account No.] |
AABCP789F |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Manufacturer and
Exporter of Packing and Packaging articles |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 62568 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established
and reputed company having satisfactory track records. Directors are reported
as experienced and respectable businessmen. Trade relations are reported as
fair. Business is active. Payments are usually correct and as per
commitments. The company can
be considered normal for business dealings at usual trade terms and
conditions. |
LOCATIONS
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Registered Office : |
Opposite Rotomac
Pens, |
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Tel. No.: |
91-2717-251106 /
251375 / 251376 / 251377 |
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Mobile No.: |
91-9825047474 |
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Fax No.: |
91-2717-251106 /
251376 |
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E-Mail : |
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Website : |
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Administrative Office: |
29, 3rd
Floor, Sri Krishna Centre, Near Mithakhali |
DIRECTORS
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Name : |
Mr
Rameshchandra Ochavlal Parikh |
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Designation : |
Director |
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Address : |
514, Lane No 21, Satagrah
Chhavni, Satellite Road, Ahmedabad – 380015, Gujarat |
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Date of Birth/Age : |
14.08.1945 |
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Date of Appointment : |
22.10.1999 |
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Name : |
Mr Pavan
Rameshchandra Parikh |
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Designation : |
Director |
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Address : |
514, Lane No 21, Satagrah
Chhavni, Satellite Road, Ahmedabad – 380015, Gujarat |
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Date of Birth/Age : |
23.12.1975 |
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Date of Appointment : |
22.10.1999 |
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Name : |
Mr Pranav
Rameshchandra Parikh |
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Designation : |
Director |
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Address : |
514, Lane No 21, Satagrah
Chhavni, Satellite Road, Ahmedabad – 380015, Gujarat |
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Date of Birth/Age : |
11.03.1974 |
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Date of Appointment : |
22.10.1999 |
KEY EXECUTIVES
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Name : |
Ajay Parikh and Associates |
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Designation : |
Company Secretary |
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Address : |
C – 4, Yashpal Apartment, Ground Floor, Near Vijay Char Rasta,
Navrangpura, Ahmedabad 380 009, |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
Equity Share Holders as on 31.03.2006
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Names of Shareholders |
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No. of Shares |
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Mr Rameshbhai O
Parikh |
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210800 |
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Mr Pranavbhai R
Parikh |
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16600 |
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Mr Pavanbhai R
Parikh |
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16600 |
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Mr Kamalkant O
Parikh |
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100 |
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Mrs Jyotsnaben K
Parikh |
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100 |
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Mr Ketanbhai K
Parikh |
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100 |
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Mr Samirbhai K
Parikh |
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100 |
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Mr Niravbhai K
Parikh |
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100 |
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Mrs Hemaben N
Parikh |
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100 |
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Mrs Sonaliben S
Parikh |
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100 |
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Mrs Namrataben K
Parikh |
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100 |
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Mr Satisbhai O
Parikh |
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100 |
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Mr Satisbhai O
Parikh – HUF |
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100 |
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Mrs Ritaben S
Parikh |
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100 |
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Mr Anujbhai S
Parikh |
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100 |
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Mrs Rajanben R
Parikh |
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100 |
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Mrs Amiben P
Parikh |
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100 |
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Mr Occhavlal M
Parikh |
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100 |
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Mrs Shradhaben O
Parikh |
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100 |
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Mrs Amritaben S
Parikh |
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100 |
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Mr Pradipbhai K
Shah |
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100 |
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Mrs Monaliben P Shah |
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100 |
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Mrs Niveditaben P
Shah |
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100 |
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Mr Umeshbhai R
shah |
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100 |
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Mr Nayanbhai A
Shah – HUF |
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100 |
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Mr Shrenikbhai A
Shah – HUF |
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100 |
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Mrs Rekhaben U
Shah |
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100 |
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Mr Kairavbhai U
Shah |
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100 |
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Mr Chintanbhai U
Shah |
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100 |
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Mr Yogesh K Shah
– HUF |
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100 |
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Mr Yogendrabhai K
Shah |
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50 |
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Mrs Sonaliben Y
Shah |
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100 |
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Mr Rameshbhai O
Parikh – HUF |
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500 |
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Mrs Sharmisthaben
Y shah |
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50 |
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Mr Pavanbhai R
Parikh – HUF |
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500 |
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Mr Pravanbhai R
Parikh – HUF |
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500 |
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Mrs Ranjanben K
Doshi |
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500 |
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Mrs Bhartiben O
Parikh |
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500 |
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Mr Kaniyalal
Navnitlal Parikh |
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500 |
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Mrs. Rajviben P
Parikh |
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100 |
Redeemable Preference Share Holders as on
31.03.2006
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Names of
Shareholders |
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No. of Shares |
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Mr Pranavbhai R
Parikh |
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120000 |
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Mr Pravanbhai R
Parikh – HUF |
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5000 |
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Mr Pavanbhai R
Parikh |
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120000 |
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Mr Pavanbhai R
Parikh – HUF |
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5000 |
Equity Share Break – up ( Percentage of Total Equity )
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Sr.
No. |
Category |
Percentage |
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1 |
Directors or relatives of directors |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and
Exporter of Packing and Packaging articles |
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Products : |
Ř
Food
Packaging Ř
Liquid
Packaging Ř
Pharmaceutical
Packaging Ř
Packaging
Pouch Ř
Packaging
Bags Ř
Plastic
Packaging Ř
Other
Packaging materials |
GENERAL INFORMATION
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Bankers : |
Ř
The
Karur Vyasya Bank Limited, Motilal Centre, Ř
IDBI
Bank Limited Ř
HDFC
Bank Limited Ř
State
Bank of Ř
Nutan
Nagarik Sahakari Bank Ř
Madhav
Nagrik Sahakari Bank |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Tarang R Kothari and Associates Chartered Accountants |
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Address : |
10, AMI Apartment, Punit Nagar, Maninagar, Ahmedabad – 380 008, |
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Associates/Subsidiaries : |
K R Metal Industries Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 millions |
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500000 |
Preference shares |
Rs.10/- each |
Rs.5.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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10.000 |
5.000 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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5.642 |
3.950 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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15.642 |
8.950 |
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LOAN FUNDS |
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1] Secured Loans |
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40.897 |
38.033 |
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2] Unsecured Loans |
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32.824 |
43.652 |
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TOTAL BORROWING |
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73.721 |
81.685 |
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DEFERRED TAX LIABILITIES |
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3.912 |
2.709 |
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TOTAL |
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93.275 |
93.344 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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66.450 |
43.836 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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1.834 |
2.672 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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18.661 |
12.536 |
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Sundry Debtors |
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31.016 |
38.218 |
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Cash & Bank Balances |
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0.940 |
0.793 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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6.246 |
9.772 |
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Total
Current Assets |
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56.863 |
61.319 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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28.922 |
13.295 |
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Provisions |
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2.957 |
1.197 |
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Total
Current Liabilities |
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31.879 |
14.492 |
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Net Current Assets |
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24.984 |
46.827 |
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MISCELLANEOUS EXPENSES |
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0.007 |
0.009 |
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TOTAL |
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93.275 |
93.344 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2006 |
31.03.2005 |
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Sales Turnover |
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141.373 |
135.110 |
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Other Income |
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1.366 |
1.116 |
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Total Income |
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142.373 |
136.226 |
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Profit/(Loss) Before Tax |
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3.952 |
1.971 |
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Provision for Taxation |
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1.730 |
0.963 |
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Profit/(Loss) After Tax |
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2.222 |
1.008 |
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Earnings in Foreign Currency : |
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Total Earnings |
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15.610 |
12.241 |
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Imports : |
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In USD |
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113242.65 |
-- |
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In EURO |
|
1.725.00 |
-- |
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Expenditures : |
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Cost of Goods Sold |
|
111.253 |
114.810 |
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Sales, Distribution and admin expenses |
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15.344 |
10.940 |
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Preliminary Expenses |
|
0.002 |
0.002 |
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Financial charges |
|
9.133 |
6.651 |
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Depreciation & Amortization |
|
3.055 |
1.852 |
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Total Expenditure |
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135.732 |
134.255 |
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KEY RATIOS
|
PARTICULARS |
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|
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
|
1.56 |
0.73 |
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Net Profit Margin (PBT/Sales) |
(%) |
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2.79 |
1.45 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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3.20 |
1.87 |
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Return on Investment (ROI) (PBT/Networth) |
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|
0.25 |
0.22 |
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Debt Equity Ratio (Total Liability/Networth) |
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|
6.75 |
10.74 |
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Current Ratio (Current Asset/Current Liability) |
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|
1.78 |
4.23 |
LOCAL AGENCY FURTHER INFORMATION
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Corporation identity number or foreign company registrations number of
the company |
U25209GJ1999PTC036763 |
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Name of the company |
PARIKH PACKAGING PRIVATE LIMITED |
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Address |
Opposite Rotomac Pens, Sarkhej Bavla Highway,
Village Moraiya, Taluka, sanand – 382213, Gujarat, India |
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This Form is for |
Modification of Charge |
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Type of Charges |
Book Debts Movable Property(not being pledge) |
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Particular of the charge holder
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Karur Vysya Bank Limited Motilal Centre, Email ID: ravichandrank@kvbmail.com |
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Nature or description of the instrument creating charge |
Agreement for credit facilities
(Hypothecation Deed) dated : 06.12.2006 |
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Date of the instrument creating charge |
06.12.2006 |
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Amount Secure by the charge |
Rs.95.120 millions |
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Brief of the principal terms and conditions and extent and operation
of the charge |
Rate
of Interest: Rate of Interest on OCC 11.25% PA PCL / FBN /FBP @ 7.50% TL ( Building ) 11.25% PA HPMA ( New Limit ) 11.25% ILC/FLC /BG as per circular Terms
of Repayment: OCC/PCL/FBN/FBP – Valid for one Year (
Renewable on Yearly basis) Term Loan ( Building ) and HPMA Loan shall
be Repaid in 60 monthly installments. Margin: OCC -25% on stocks and 35% on Book Debts PCL -25% FBN – Nil FBP -25% ILC/FLC -10% HPMA -25% Tl (building ) – 50% Extent
and operation of the charge: The charges operates in favour of the bank
for due repayment of its financial assistance to the company. Others: The
charges operates in favour of the bank for due repayment of its financial
assistance to the company. |
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Short Particulars of the Property charged (including location of the property) |
Hypothecation of the borrower’s stocks of raw materials, goods – in – process of manufacture, all finished and manufactured goods, articles, stores and spares, plant and machineries, furniture and fixtures, office equipments, electrical installations, book debts, outstanding monies, receivables, claims, bills, rights to or movable assets (both present and future). |
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Particulars of the present modification |
The charge on the securities now stands increased to Rs. 95.120 millions as detail here under: Charge registered earlier: 72.008 millions Add: Additional limits granted Now : 27.500 millions Less: HPMA-II ( Rs. 1.5 millions) closed and reduction in BG lImit ( Rs. 2.888 millions ) : 4.388 millions Total charges now registered : 95.120 millions |
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Name of the company |
PARIKH PACKAGING PRIVATE LIMITED |
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Presented
By |
Shri Pranav R Parikh |
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1) Date and description of instrument creating the change |
Equitable Mortgage
of land and Building dated 14.02.2002 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Term Loan
(Building) : Rs 3.000 Millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Piece of parcel
of non-agricultural construction freehold land admeasuring 5945.68 Sq. meter
of revenue survey no 432 part situated at Mouje Moraiya Taluka, Sanand in the
district 7 and sub district of ahmedabad and construction of building on the
said land. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest rate @
14% shall be charged and margin for building @50% per Annum. |
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5) Name and Address and description of the person entitled to the charge. |
The Kurur Vysya Bank Limited Motilal Centre, |
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6) Date and brief description of instrument modifying the charge |
Confirmation of deposit
of title deeds dated – 05.03.2005 |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Earlier Total
limits sanctioned to the company was at Rs. 49.000 millions now by this deeds
the additional limits has been sanction to the company by way of (1) FLC of
Rs. 8.350 millions and (2) TL (M) Rs. 7.500 millions and the said equitable
mortgage continue to be secured for the total facilities granted to the
company amounting to Rs.. 64.858 millions. All other terms and conditions
remaining unchanged.. |
As per website details:
Subject - is
the newest venture of company’s Group
and has created a niche in the market as Packaging Solution Providers to a wide spectrum of industries. The
ISO 9002 company in a short span of three years has forged ahead growing three
folds in the last year itself. They are providers of food packaging solution,
liquid packaging solution, pharmaceutical packaging solution, packaging pouch,
packaging bags, plastic packaging solution and other packaging materials in
The company is all set to serve the Pharmaceutical, Food and
FMCG industry Its primary focus is to provide Quality Products along with
optimum Customer Service. This has been achieved through implementation of
formal organizational structures and operational systems thereby attaining the
highest level of professionalism.
With international markets in sight, subject is dedicated to provide the
highest quality standards at a reasonable price with maximum customer
satisfaction.
Today, the company constantly addresses new challenges and finds innovative
solutions thus carving a unique position within the packaging industry.
Infrastructure
The new factory at Ahmedabad is designed engineered to be a one-stop shop for all printing and packaging needs.
To meet the strict requirements of Food and Pharmaceutical industries and its responsibility
towards public health, the company has invested heavily in Hygiene and a
Controlled environment.
The above is achieved in 20,000 sq. ft of Clean, Dust free, Insect free environment thus ensuring the packaging material which carries the sales appeal and shelf life reaches the customer with utmost care.
To provide multi-coloured and multi-dimensional printing and packaging the company's production facilities includes three multicolour Printing lines Versatile Lamination machine, Slitting / Rewinding/ Doctoring machines.
Infrastructure and technology pave way to fulfil customer needs.
Products
- Pharmaceutical Strip and Blister Pack: Packaging of Tablets / Capsules
- Tagger Foil: Pilfer proof diaphragm for Tin Containers
- Cigarette Foil: Inner Wrapper for Cigarettes in Shell and Side / Hinge Lid/ Soft Packs
- Lidding Foil: Pilfer proof foil cover for Rigid/ Semi Rigid Containers
- House Foil: Household Applications in Cooking, Freezing, Wrapping, Storing etc.
- Label Foil: Textiles, Beer, Other Bottles and Container Labels
- Decorative Foil: Fireworks, Bangles, Gift Wrap, Resistive Decoration
Quality Control
Quality Control Department is equipped to meet the most stringent demands of the clients. Vigorous tests are carries out under strict Standard Operating Procedures (SOP) for all raw materials and finished products to ensure that clean, hygienic and defect free products are delivered to the customers.
Measures for Quality Control
- Well equipped Laboratory consisting of Bursting Strength Machine, Peel Bond Testing, Gramage Measuring, Sealing Machine, Hot Plate, Oven, Pin Hole Box and all chemical analysis equipments.
- Quality checks at all the stages of production cycle.
- Technical assessment of products to verify acceptability of all jobs
- Customized reports to ensure traceability.
- All supplies are certified with Quality Assurance report.
Infrastructure and technology are the tools, but the Quality Control Department provides the cutting edge.
Strengths
The company believes in investing substantially in one of its most valuable assets manpower.
Today company’s group comprises of technocrat team, striving collectively
towards achieving a common goal of taking the company to greater heights.
Efficient human resource has let subject reach the pinnacle that it is on today.
The Company in a nutshell.
Packaging Pouches, Packaging Bags and
Packaging Rolls
The subject is a manufacturer and supplier of Packaging
Pouches, Packaging Bags and Packaging Rolls in
The organization offers a variety of high quality packaging material like: pouches, bags and rolls for a host of food items.
Packaging Bags and Packaging Rolls
These are attractive in appearance and truly combine designs with
functionality. The material used is strong and reliable. These are used for an
enormous range of products that include: dry fruits, fruit juices,
pharmaceutical products etc. Bags are supplied in flat and gusseted flat types
with bottom heat seal or sewed seal. A wide range of bags for raw materials
heavy duty packaging include: dry foods, sugar, animal feeds, coffee bean,
cereal, powdered milk, plastic resin etc. The material structure can be made as
per the needs of the customers' products characteristics. Bags are supplied in
flat and gusseted flat types with bottom heat seal or sewed seal. The subject
is a manufacturer and supplier of packaging pouches, packaging bags, packaging
rolls, food packaging pouches, food packaging bags and food packaging rolls.
Packaging Pouches
The variety of pouches used as packaging material include:
Standup Packaging Pouches
- Oils, Lubricants and Grease.
- Distemper, Cement
- Colors
- Liquid Detergent
- Dry Fruits and Namkeen
- Fruit Juices and Sauces
Centre Seal Packaging Pouches
- Tea
- Namkeen
- Coffee
- Sugar
- Detergent Powder
- Rice
- Chocolate
- Breakfast Cereal
- Cereal Bar
- Seeds
- Lubricants, Oils
- Grease
- Tobacco
- Powder Toner
- Distemper
- Cement Colors
Zipper Packaging Pouches
- Pan Masala, Zafrani Patti, Tobacco, Khaini
- Herbal Henna Powder.
- Tea, Coffee. Namkeen.
- Candies and Chocolate.
- Distemper, Cement Colours.
- Grease
Retort Pouches for processed foods
- Daal Makhani
- Matter Paneer
- Sarson Ka Saag
- Chicken Biryani
- Palak Paneer
Gussetted Packaging Pouches
- Tea
- Namkeen
- Tobacco
- Powder, Toner
- Grease
- Distemper,
Cement Colours
The Parikh Packaging at, Parikh Packaging Private. Limited. Are manufacturers and suppliers
of packaging pouches, packaging bags and packaging rolls in
Food Packaging Foils and Food Packaging Materials
The subject is a manufacturer and supplier of Food Packaging
Foils and Food Packaging Materials in
Packaging Materials for Chilled Food Items
Packaging items made of PET, nylon, PE lamination have high strength under frozen conditions and therefore best suited for packing frozen food products. Standing pouches are used for refrigerated products and retortable pouches are ideal for frozen and refrigerated meal.
Packaging Materials for Liquid Food Products
Liquid items need special care and attention while packing. Various types of fruit juices, oils, chemicals and other drinks are packed in items produces from laminated film with barrier properties.
Packaging Materials for Meat Products
Vacuum pouches make perfect packaging material for exclusive packaging of meat, chicken, fish etc. Having the required strength, saleability and product protection features, the coextruded pouches are highly functional in retaining the taste and aroma of the products. The high moisture barrier present in the packaging item conserves the natural juice of the products.
Packaging Materials for Dry Groceries
The aromatic dry groceries need superior packaging items to retain their aroma and flavor. The chief dry groceries are: coffee, tea, milk, pasta, rice, powdered soup etc. The packing items range from a variety of pouches, bags with lamination or solvent-based. The laminated multi-layer material ensures the protection of these dry groceries from water vapor and aroma loss. Further, these items can also be vacuum packed for protection.
The subject is at, Parikh Packaging Private Limited, manufacturers and suppliers of food packaging foils and food packaging materials for chilled food items, liquid food products, meat products, dry groceries and many more.
Pharmaceutical Packaging Materials
Subject is a manufacturers and suppliers of Pharmaceutical Packaging Materials like strip foils, blister foils, cold form aluminium foils etc. The company offers total packaging solutions for all varieties of pharmaceutical items adopting different material constructions.
Strip Foils
The foil material is soft fully annealed aluminum alloy with colorless LDPE as the sealant. The peel Strength of LDPE to foil is 200 gms/15 mm min and seal strength of foil is 450 gms/15 mm min. The supply of these material can be in reel form, jumbo roll, reel wandering or card board carton.
Blister Foils
Hard Aluminum Alloy is used as the foil material in pharmaceutical packaging. The heat seal coatings are colorless vinyl coatings that conform to the government regulations regarding direct contact with medicines and drugs. Thus, they are totally safe as packaging materials. This resin is suitable for heat sealing to PVC / PVDC coated PVC Films. The company provides lacquer coating if required. The packing of pharma products is normally done Card Board Cartons or as specified by the clients.
Test Certificate can be provided for actual observed values of different
parameters.
Cold Form
Aluminium foils have unique codforming quality and is a total barrier material. Thus, it is very good for specific applications PVC can be replaced by a PP film. It is used for packaging of tablets, capsules, pills and is ideal for for coldform blister packaging machines.
Manufacturers, exporters and suppliers of Pharmaceutical Packaging Materials like strip foils and blister
foils in
Other Packaging Products
Exclusive packaging is necessary for various types of
non-food items too. These include : different types of soaps and detergents,
cigarettes, paper tissues, shampoo and industrial products and much more. The
subject is a manufacturer, exporter and supplier of packaging materials and
packaging products in
The organization is well geared to support large diameter packaging such as
canvas, a heat shield and picnic pad. Specialized paper and surface coatings
provide high gloss varnish finishes as a low cost alternative to film or paper
laminations. The varieties of form, fill and seal packaging and pouches are available
in various film structures.
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.40.91 |
|
|
1 |
Rs.82.57 |
|
Euro |
1 |
Rs.55.72 |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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 |
|