MIRA
INFORM REPORT
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Report Date : |
07.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
MARQUISE GEMS PRIVATE LIMITED |
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Registered Office : |
407, Arun Chambers, Tardeo Road, Mumbai – 400034, Maharashtra, India |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
24.03.2004 |
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Com. Reg. No.: |
145303 |
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CIN No.: [Company
Identification No.] |
U51398MH2004PTC145303 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMM31379F |
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PAN No.: [Permanent
Account No.] |
AAECM6036H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Exporter, Supplier and Trading Company Dealing in
Exquisite Range of Jewelry. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 500 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Mr. Prabhakar denied to part any details on the ground that this year
they donot want to renew subscription for trade India. As claimed, it was already
conveyed to them. Subject is poor in Corporate Compliance Governance. It’s estimated annual sales can be around Rs.20.000 Millions with
unknown profit margin. It can be considered for any business dealings on safe and secured
trade terms and conditions. |
INFORMATION
DECLINED BY
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Name : |
Mr. Prabhakar |
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Date : |
04.08.2008 |
LOCATIONS
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Registered Office : |
407, Arun Chambers, Tardeo Road, Mumbai – 400034, Maharashtra, India |
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Tel. No.: |
91-22-23526069/ 6059/ 3569/ 4559 |
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Fax No.: |
91-22-66519529 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr. Rupin Banker |
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Designation : |
Director |
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Address : |
82-B, Mittal Tower, Nariman Point, Mumbai – 400021, Maharashtra, India |
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Name : |
Mrs. Meenakahi Banker |
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Designation : |
Director |
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Address : |
14, Interlink Industrial Estate, Caves Road, 30 Ganeshwari (West),
Mumbai – 400066, Maharashtra, India |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 09.03.2004)
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Names of Shareholders |
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No. of Shares |
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Rupin Banker |
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5000 |
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Meenakahi Banker |
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5000 |
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Total |
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10000 |
BUSINESS DETAILS
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Line of Business : |
Exporter, Supplier and Trading Company Dealing in
Exquisite Range of Jewelry. |
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Products : |
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Exports : |
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Countries : |
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GENERAL
INFORMATION
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No. of Employees : |
30 |
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Bankers : |
Not Available |
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Banking Relations
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Unknown |
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Auditors : |
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Name : |
Haresh R. Joshi and Company Chartered Accountant |
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Address : |
43/45, Ganesh Bhuvan, II No Marine Street, Mumbai – 400002,
Maharashtra, India |
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Membership : |
FIEO, Gems and Jewelry Export Promotion Council |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
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FINANCIAL DATA
[all figures are in Rupees Millions]
No financials are available since incorporation of the company.
Thus, company is poor in Corporate Compliance/ Governance.
Further, Management remained non-cooperate during current investigation.
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
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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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(0.001) |
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NETWORTH |
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0.099 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
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2] Unsecured Loans |
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0.030 |
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TOTAL BORROWING |
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0.030 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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0.129 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.000 |
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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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0.000 |
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Sundry Debtors |
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0.000 |
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Cash & Bank Balances |
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0.100 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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0.000 |
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Total
Current Assets |
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0.100 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.001 |
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Provisions |
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0.000 |
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Total
Current Liabilities |
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0.001 |
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Net Current Assets |
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0.099 |
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MISCELLANEOUS EXPENSES |
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0.030 |
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TOTAL |
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0.129 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2005 |
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Sales Turnover |
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0.000 |
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Other Income |
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0.000 |
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Total Income |
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0.000 |
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Profit/(Loss) Before Tax |
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(0.001) |
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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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(0.001) |
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Expenditures : |
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Payment top Auditors |
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0.001 |
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Total Expenditure |
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0.001 |
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KEY RATIOS
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PARTICULARS |
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31.03.2005 |
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PAT / Total Income |
(%) |
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NA |
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Net Profit Margin (PBT/Sales) |
(%) |
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NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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(1.00) |
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Return on Investment (ROI) (PBT/Networth) |
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(0.01) |
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Debt Equity Ratio (Total Liability/Networth) |
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0.31 |
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Current Ratio (Current Asset/Current Liability) |
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100.00 |
LOCAL AGENCY
FURTHER INFORMATION
Note:
The Registered Office of the company has been shifted from 15th
Floor, Gharonda Opposite White House, Walkeshwar Road, Mumbai – 400006,
Maharashtra, India to the present address w.e.f 01.05.2006
Website Details:
Profile:
Subject is one of the exporter, supplier and trading company
dealing in exquisite range of jewelry of all kinds like gold jewelry, silver
jewelry, diamond jewelry, platinum jewelry, pearl jewelry and gemstone jewelry.
The company was incorporated in the year 2004. In such a short span of time,
they have achieved high market goodwill and have created a huge niche for
overseas countries. Their collection is attractive and unique in itself. Prices
are worth the quality and designing patterns of the jewelry items. The jewelry
meets the set criterion of international quality measurement; they have earned
ISO 9001: 2000 certifications.
Range of Jewelry:
- Gold Jewelry
- Silver Jewelry
- Diamond Jewelry
- Platinum Jewelry
- Pearl Jewelry
- Gemstone Jewelry
The collection is not only unique but also represents a
perfect blend of fine craftsmanship and creativity. They supply both modern and
traditional style of jewelry.
Special Traits:
There are many characteristics of the jewelry supplied by them that makes
them different from their immediate competitors. Some of them can be
highlighted, like:
- Awesome designs
- Fine finishing
- Sharp cuts
- Durable nature
- Affordable prices
- Timely delivery
- Creative designs
- Stepwise quality testing
- Wide network of clients
Achievements:
Their range of gold jewelry, silver
jewelry, diamond jewelry, platinum jewelry, pearl jewelry and gemstone jewelry
has made a remarkable impact in fashion industry. Due to
exclusiveness of the collection, they became popular within a limited time.
Being fully equipped with the talented staff and marketing executives, they are
planning to come up with more new designs at reasonable prices and expand their
market beyond North America, Europe, Middle East, etc.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No 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.42.00 |
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UK Pound |
1 |
Rs.82.14 |
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Euro |
1 |
Rs.65.09 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
2 |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
- |
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--LEVERAGE |
1~10 |
2 |
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--RESERVES |
1~10 |
- |
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--CREDIT LINES |
1~10 |
1 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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 |
NO |
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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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14 |
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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