- Summary Information
|
Company Name |
SMART I ELECTRONICS SYSTEMS PRIVATE
LIMITED |
Principal Name 1 |
MR. GANPAT P SHINDE |
|
Status |
SATISFACTORY |
Principal Name 2 |
MR. NIKESH V SHAH |
|
Street Address |
E-103, EKTA BHUMI GARDENS, DATTA PADA ROAD, BORIVALI (EAST),
MUMBAI-400066, MAHARASHTRA, INDIA |
||
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Established Date |
15.06.2006 |
SIC Code |
-- |
|
Telephone# |
91-22-40744444 |
Business Style 1 |
MANUFACTURER |
|
Fax # |
91-22-55702054 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
ACCESS CONTROL SYSTEMS |
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|
# of employees |
53 |
Product Name 2 |
REMOTE ALARM SYSTEMS |
|
Paid up capital |
Rs. 100000 |
Product Name 3 |
SMART CARD SOLUTIONS |
|
Shareholders |
DIRECTORS OR RELATIVES OF DIRECTORS (100%) |
Banking |
Bank of Maharashtra |
|
Public Limited Corp. |
NO |
Business Period |
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|
IPO |
NO |
International Ins. |
- |
|
Public Enterprise |
NO |
Rating |
Ba |
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Related Company |
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Relation |
Country |
Company Name |
CEO |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2008 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
9267000 |
Current Liabilities |
11529000 |
|
Inventories |
11189000 |
Long-term Liabilities |
4418000 |
|
Fixed Assets |
900000 |
Other Liabilities |
000 |
|
Deferred Assets |
000 |
Total Liabilities |
15947000 |
|
Invest& other Assets |
000 |
Retained Earnings |
5309000 |
|
|
|
Net Worth |
5409000 |
|
Total Assets |
21356000 |
Total Liab. & Equity |
21356000 |
|
Total Assets (Previous Year) |
3438000 |
|
|
|
P/L Statement as of |
31.03.2008 |
(Unit: Indian Rs.) |
|
|
Sales |
60000000 (Estimated) |
Net Profit |
-- |
|
Sales(Previous yr) |
-- |
Net Profit(Prev.yr) |
-- |
MIRA
INFORM REPORT
|
Report Date : |
17.12.2008 |
IDENTIFICATION
DETAILS
|
Name : |
SMART I ELECTRONICS SYSTEMS PRIVATE LIMITED |
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Registered Office : |
E-103, Ekta Bhumi Gardens, Datta Pada Road, Borivali (East),
Mumbai-400066, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
15.06.2006 |
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Com. Reg. No.: |
11-162642 |
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CIN No.: [Company
Identification No.] |
U51505MH2006PTC162642 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Access Control Systems and Smart Cards |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 27000 |
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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 well established company having satisfactory track. The
company’s audited sales figure is not available but it was estimated around
Rs. 50.000 Millions per annum. Financial position is satisfactory. Trade
relations are fair. Payments are usually correct and as per communication. The company can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
|
Name : |
Mr. Deepak Bhosale |
|
Designation : |
Account Department |
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Contact No.: |
91-9323804757 |
|
Date : |
15.12.2008 |
LOCATIONS
|
Registered Office : |
E-103, Ekta Bhumi Gardens, Datta Pada Road, Borivali (East),
Mumbai-400066, Maharashtra, India |
|
Tel. No.: |
91-22-40744444 |
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Mobile No.: |
91-9323804757 |
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Fax No.: |
91-22-55702054 |
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E-Mail : |
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Website : |
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Area : |
500 sq.ft (Owned) |
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Administrative Office : |
119, Neha Industrial Estate, Dattapada Road, Borivali (East), Mumbai-400066,
Maharashtra, India |
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Tel. No.: |
91-22-55702054/ 40744444 |
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Fax No.: |
91-22-40744455 |
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E-Mail : |
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Area : |
350 sq.ft |
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Factory : |
Unit No. 118, 1st Floor, Sagar Plaza, Industrial Complex,
Samrudhi Building No. 03, Sativali Road, Vasai (East) Taluka Vasai, District-
Thane-401208, Maharashtra, India |
|
Tel. No.: |
91-22-40744444 |
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Fax No.: |
91-22-55702054 |
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E-Mail : |
DIRECTORS
|
Name : |
Mr. Ganpat P Shinde |
|
Designation : |
Managing Director |
|
Address : |
E-103, Ekta Bhoomi, Gardens Dattapada, Road, Borivali (East|),
Mumbai-400066, Maharashtra, India |
|
Date of Birth/Age : |
11.07.1969 |
|
Date of Appointment : |
15.06.2006 |
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Proprietorship Firm: |
Control soft Systems Address: 119, Neha Industrial Estate, Datta Pada Road, Borivali
(East), Mumbai-400066, Maharashtra, India |
|
|
|
|
Name : |
Mr. Nikesh V Shah |
|
Designation : |
Director |
|
Address : |
C-20, Keshavnidhi CHS, Muljinagar, No. 2, S.V. Road, Mumbai-400092, Maharashtra,
India |
|
Date of Birth/Age : |
13.05.1979 |
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Date of Appointment : |
15.06.2006 |
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Name : |
Mrs. Sheetal P Zanwar |
|
Designation : |
Director |
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Address : |
14, Amrapali Residency Sant Nagar, Pune-411009, Maharashtra, India |
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Date of Birth/Age : |
28.07.1975 |
|
Date of Appointment : |
15.06.2006 |
KEY EXECUTIVES
|
Name : |
Mr. Deepak Bhosale |
|
Designation : |
Account Department |
|
Mobile No. : |
91-9323804757 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 27.09.2008
|
Names of Shareholders |
|
No. of Shares |
|
Ganpat Shinde |
|
9000 |
|
Sheetal Zanwar |
|
500 |
|
Nikesh V Shah |
|
500 |
|
Total |
|
10000 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2008
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Access Control Systems and Smart Cards |
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|
|
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Products : |
·
Access Control Systems ·
Remote Alarm Systems ·
Smart Card Solutions ·
Biometrics ·
OEM Accessories ·
CCTV System ·
Door Interlocked System ·
Electro Magnetic |
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Terms : |
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Selling : |
Credit ( 30 Days) |
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Purchasing : |
Credit ( 30 Days) |
GENERAL
INFORMATION
|
Customers : |
Wholesalers |
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No. of Employees : |
53 (Office 25, Factory 25, Branches 3) |
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Bankers : |
Bank of Maharashtra, Thakur Village Branch, Kandivali (East),
Mumbai-400101, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Tembey and Mhatre Chartered Accountant |
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Address : |
120, Udyog Mandir No. 1, Bhogji Keer Marg, Mahim, Mumbai-400016,
Maharashtra, India |
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Tel. No.: |
91-22-24448069/ 73 |
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E-Mail : |
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Name : |
Gupta Verma and Associates Chartered Accountant |
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Address : |
A-103, Rajshri Accord, Telly Gully Cross Lane, Andheri East, Mumbai-400059,
Maharashtra, India |
CAPITAL STRUCTURE
As on 31.03.2008
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.100 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
10000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.100 Million |
||
FINANCIAL DATA
[all figures are in Rupees Millions]
|
Particulars |
|
|
31.03.2008 |
|
Sales Turnover (Estimated) |
|
|
60.000 |
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2008 |
31.03.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
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1] Share Capital |
|
0.100 |
0.100 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
5.309 |
0.056 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
5.409 |
0.156 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
4.385 |
0.000 |
|
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2] Unsecured Loans |
|
0.033 |
0.100 |
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TOTAL BORROWING |
|
4.418 |
0.100 |
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DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
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TOTAL |
|
9.827 |
0.256 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
0.900 |
0.000 |
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Capital work-in-progress |
|
0.000 |
0.000 |
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INVESTMENT |
|
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
|
11.189 |
0.000 |
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Sundry Debtors |
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8.117 |
2.199 |
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Cash & Bank Balances |
|
0.403 |
0.424 |
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Other Current Assets |
|
0.000 |
0.000 |
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Loans & Advances |
|
0.747 |
0.727 |
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Total
Current Assets |
|
20.456 |
3.350 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
|
10.466 |
3.022 |
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Provisions |
|
1.063 |
0.160 |
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Total
Current Liabilities |
|
11.529 |
3.182 |
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Net Current Assets |
|
8.927 |
0.168 |
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MISCELLANEOUS EXPENSES |
|
0.000 |
0.088 |
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TOTAL |
|
9.827 |
0.256 |
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KEY RATIOS
|
PARTICULARS |
|
|
31.03.2008 |
31.03.2007 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
2.95 |
21.03 |
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Current Ratio (Current Asset/Current Liability) |
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1.77 |
1.05 |
LOCAL AGENCY
FURTHER INFORMATION
Bankers Charges
Report as per Registry
|
This form is for |
Creation of
charge |
|
Corporate identity
number of the company |
U51505MH2006PTC162642 |
|
Name of the
company |
SMART I ELECTRONICS SYSTEMS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
E-103, Ekta Bhumi Gardens, Datta Pada Road, Borivali (East),
Mumbai-400066, Maharashtra, India |
|
Type of charge |
Book Debts Immovable
Property Others |
|
Particular of
charge holder |
Bank of Maharashtra, Thakur Village Branch, Kandivali (East), Mumbai-400101,
Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
Composite Deed of
Hypothecation for all facilities dated 18.02.2008 |
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Date of
instrument Creating the charge |
18.02.2008 |
|
Amount secured by
the charge |
Rs. 4.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest @ BPLR @ 13.25% Terms of
Repayment Cash Credit
Facility hence terms of repayment not specified. Margin 25% Extent and
Operation of the charge Hypothecation of
stocks of raw materials, work in progress, finished goods, consumables and
hypothecation of book debts. Personal
Guarantee of Director Mr. Ganapt Shinde Equitable
mortgage of gala No. 212, Admeasuring 370 sq.ft. at Neha Industrial Estate,
Borivali (East), Mumbai-400066 in the name of Mrs. Prabha Shinde and Mr.
Ganpat Shinde |
|
Short particulars
of the property charged |
Hypothecation of
Stock of raw material, work in progress, Finished goods, Consumables and
Hypothecation of book debts Personal
Guarnatee of directors Mr. Ganpat Shinde Equitable
mortgage of Gala No. 212, Admeasuring Sq.ft at Neha Industrial Estate,
Borivali (East), Mumbai-400066 In the name of Mrs. Prabha Shinde and Mr.
Ganpat Shinde. |
Fixed Assets:
·
Chill Work
·
Plant and Machinery
·
Computer
·
Furniture and Fixture
History
ControlSoft Systems was founded in 2001 to manufacture
Hightech Access Control system. The Company diversified in 2003 to manufacture a
complete range of Access Control products such as Access Controller for Weigand
/ Smart Card / Biometrics ,BioSmart Fingerprint Readers,Contactless Smart Card
Readers,Contact Smart card Readers with USB interface,Access Control System for
Lift , GSM Based Remote SMS alarm System,Electro Magnetic Locks for Access
Control,Secure Safety Exit switch,Door Interlock System, CCTV control Units.
They are Dedicated to provide Software solutions for Access
Control and Smartcard Systems.Smartcard based Electronic signature for 21
cfrpart 11 software in Pharmaceuticals.
In this span of the existence they have been able to achieve
the recognition of being one of the leading Indigenous Security and Automation
product manufacturer.
Controlsoft has a well equipped manufacturing facility in
Vasai(Thane) and Product Developement Center in Mumbai.
The Company is also proud of its Sister Concern Division Enviro Technologies involved in
Electronic Solutions and Software for Healthcare ,BioTech Industry.
Innovation
Controlsoft today offers a comprehensive suite products to
OEM clients for commercial and industrial security and Allied Automation
products for clients range from residential customers to Small Showrooms,
Stores, Industries, Corporate Houses, Govt. Sector undertakings, Hospitals
& Departmental stores.
They develop innovative products keeping eye on the Latest Technology and
Keeping in Mind the affordable price.
Commitment
Controlsoft will continue it’s persuit of technological and
Market leadership with the introduction of more exciting products for ease of
life in this modern eara at minimal cost for all.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction registered
against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or investigation
registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.47.82 |
|
UK Pound |
1 |
Rs.73.08 |
|
Euro |
1 |
Rs.65.56 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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 |
|