MIRA
INFORM REPORT
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Report Date : |
16.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
FIELD FRESH FOODS
PRIVATE LIMITED |
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Registered
Office : |
H – 5/ 12
Mehrauli Road, New Delhi – 110 030 |
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Country: |
India |
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Financials (as
on): |
31.03.2007 |
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Date of
Incorporation : |
06.09.2004 |
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Com. Reg. No.: |
55-128848 |
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CIN No.: [Company Identification No.] |
U15133DL2004PTC128848 |
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TAN No.: [Tax Deduction & Collection Account No.] |
DELF02752B |
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Legal Form : |
Private Limited
Liability Company |
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Line of
Business : |
Manufacturer and
Exporters of Fruits and Vegetable products |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit
Limit : |
USD 640000 |
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Status : |
New Company |
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Payment
Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a new
company venture of Bharti Enterprises, chaired by Mr. Sunil Mittal. Available
Information indicates high financial responsibility of the company. Trade
relations are fair. Initial loss is an establishment expenses. The company is
expected to do well when it is in full stream. The company can
be considered normal for business dealings at usual trade terms and
conditions. |
LOCATIONS
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Registered
Office : |
H – 5/ 12
Mehrauli Road, New Delhi – 110 030, India |
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Tel. No.: |
91-11-51666000 |
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Fax No.: |
91-11-51666011 |
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Website: |
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Corporate
Office : |
Golf View
Corporate Towers, 6th Floor, Sector 42, Gurgaon 122001, Haryana |
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Tel. No.: |
91-124-4109400 /
5109434 / 4109408 |
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Fax No.: |
91-124-4109390 |
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E-Mail : |
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Location : |
Commercial |
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Factory : |
D – 195, Okhla
Industrial Area, Phase – I, New Delhi – 110020 |
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Tel. No.: |
91-11-40573046 |
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Fax No.: |
91-11-41709630 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Sunil Bharati
Mittal |
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Designation : |
Director |
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Address: |
19 Amrita Shergill
Marg, New Delhi – 110 003, India. |
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Date of
Birth/Age : |
23.10.1957 |
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Date of
Appointment : |
06.09.2004 |
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Name : |
Mr. Rakesh
Bharati Mittal |
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Designation : |
Director |
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Address: |
E – 26, Vasant Marg,
Vasant Vihar, New Delhi – 110 057, India. |
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Date of
Birth/Age : |
18.09.1955 |
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Date of
Appointment : |
06.09.2004 |
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Name : |
Mr. Lynn De
Rothschild |
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Designation : |
Director |
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Address: |
435 East 52 Street
Apartment 18/ 19, New York – 10022, USA. |
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Date of
Birth/Age : |
02.07.1954 |
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Date of
Appointment : |
25.11.2004 |
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Name : |
Mr. Evelyn De
Rothschild |
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Designation : |
Director |
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Address: |
12 Foulis
Terrace, Londoa -, SW 73 LZ, England. |
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Date of
Birth/Age : |
29.08.1931 |
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Date of
Appointment : |
25.11.2004 |
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Name : |
Mr. Jitendra
Singh |
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Designation : |
Secretary |
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Address: |
20/ 0B, Rail
Vihar, Sector 56, Gurgaon – 122 003, Haryana. |
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Date of
Birth/Age : |
30.10.1973 |
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Date of
Appointment : |
25.04.2005 |
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Name : |
Mr. Prakash
Madhava Nene |
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Designation : |
Alternate
Director |
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Address: |
E-1/6, First
Floor, Vasant Vihar, New Delhi 110057, India |
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Date of
Birth/Age : |
30.07.1954 |
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Name : |
Mr. Rajiv Luthra |
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Designation : |
Director |
KEY EXECUTIVES
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Name : |
Mr. Ravi S Deo |
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Designation : |
Chief Executive
Officer |
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Date of
Birth/Age : |
41 Years |
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Qualification: |
MBA |
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Experience: |
22 Years |
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Date of
Appointment : |
06/09/2004 |
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Name : |
Mr. Kevin Parker |
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Designation : |
Chief Operating
Officer |
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Date of
Birth/Age : |
46 Years |
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Qualification: |
Graduate |
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Experience: |
26 Years |
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Date of
Appointment : |
06/09/2004 |
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Name : |
Mr. Sandeep
Bansal |
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Designation : |
Financial Head |
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Name : |
Mr. Rabindra
Kumar Purohit |
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Designation : |
Secretary |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names
of Shareholders |
No. of Shares |
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|
Bharti
Enterprises Private Limited |
4423500 |
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Elro Holding
India Limited |
4423500 |
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Equity Share
Breakup |
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Percentage of
Holding |
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Foreign Holdings |
|
50.00 |
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Bodies Corporate |
|
50.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of
Business : |
Manufacturer and
Exporters of Fruits and Vegetable products |
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Agencies Held
: |
Roldtchild- U. K.
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Exports to : |
European
Countries, Middle East and UK |
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Terms : |
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Selling : |
L/C, Credit (60
days) and TT (Case to case basis) |
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Purchasing : |
Cash and Credit |
GENERAL
INFORMATION
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Customers : |
Wholesalers |
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No. of
Employees : |
35 |
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Bankers : |
Ø
IDBI, New
Delhi Ø
HDFC Bank Limited,
New Delhi and Gurgaon Ø
ING Vysya
Bank Ø
Deutsche
Bank Ø
ICICI Bank
Limited, Land Mark, Race Course Circle, Vadodara 390007, Gujarat, India |
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Facilities : |
Cash Credit limit
: Rs. 10.000 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Price Waterhouse Chartered Accountants |
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Address : |
Building 8, 7th and 8th floor, Tower B, DLF
Cyber City, Gurgaon 122002, Haryana, India |
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Associates/Subsidiaries : |
Ø
Bharti Tele-Ventures Limited Legal Status : Public Limited Company Date of Incorporation : 7th July 1995 Address : Qutab
Ambience (at Qutab Minar), Mehrauli Road, New Delhi - 110 030 Tel. No.: +91 11 5166
6000 Fax No.: +91 11 5166
6011/12 Website : http://www.bhartiteleventures.com
About the company : Bharti Tele-Ventures
Limited, a part of Bharti Enterprises, is India's leading
provider of telecommunications services. The businesses at Bharti
Tele-Ventures have been structured into two main strategic business groups -
the Mobility Leaders business group and the Infotel Leaders business group.
The Mobility business group provides GSM mobile services across India in
twenty three telecom circles, while the Infotel business group provides
broadband & telephone services, long distance services and enterprise
services. All these services are provided under the Airtel brand. Turnover : Rs. 80.027 millions as on March 31st
2005 Ø
Bharti Tele Tech Limited Legal Status : Public Limited Company Date Incorporation : 30th March 1999 About the Company : In 1985, Bharti Teletech entered into a technical collaboration with
Siemens AG, the German technological giant and set up a plant in Ludhiana to
manufacture telephones. In 1991, Beetel manufactured phones for 'Sprint', the
American telecom mammoth. Shortly after, in 1993-94, came ISO 9001-2000
accreditations for the manufacturing units - by this time two in numbers, at
Gurgaon and Ludhiana. And in a short span of time, Beetel was already the
market leader. Cornering a third of the Indian market, Beetel became 'India's
Favorite Phone'. In between these years, while acclaim and achievements were flowing fast and steady, Beetel was initiating and implementing steps that would take them beyond the borders of India. The immediate necessity was to establish an in-house research and development base. This was necessary on two counts - Firstly, to indigenize technologies for the local market, and secondly, to pioneer new technologies. The first telephone instrument to get ISO accreditations, India's first EPBT phone, the first to cross the 10 million unit mark and thereafter 20 million mark, the only Indian telephone company to be present in 30 countries mapping 5 continents. The biggest manufacturer of telephones in the world outside China. A brand present in every second Indian home. The story of Beetel is one of milestones, inspirational efforts, teamwork and of an ambition that knew no bounds. Ø
Telecom
Seychelles Limited Legal Status : Public
Limited Company Ø
Bharti
Telesoft Limited Ø
TeleTech Services (India) Limited |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
125000000 |
Equity Shares |
Rs. 10/- each |
Rs. 1250.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
65000000 |
Equity Shares |
Rs. 10/- each |
Rs. 650.000 Millions |
|
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
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1] Share Capital |
650.000 |
350.000 |
88.470 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
[489.219] |
[153.937] |
(34.541) |
|
|
NETWORTH |
160.781 |
196.063 |
53.929 |
|
|
LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
200.000 |
102.621 |
0.000 |
|
|
2] Unsecured Loans |
39.700 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
239.700 |
102.621 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
400.481 |
298.684 |
53.929 |
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
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|
FIXED ASSETS [Net Block] |
130.630 |
14.531 |
8.951 |
|
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Capital work-in-progress |
119.757 |
70.080 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
95.164 |
0.000 |
8.368 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
68.381 |
21.729 |
5.385 |
|
|
Sundry Debtors |
20.225 |
8.038 |
0.651 |
|
|
Cash & Bank Balances |
5.597 |
135.001 |
41.002 |
|
|
Other Current Assets |
0.024 |
0.952 |
0.528 |
|
|
Loans & Advances |
26.055 |
71.803 |
5.292 |
|
Total
Current Assets |
120.282
|
237.523 |
52.858 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
61.372 |
21.387 |
15.448 |
|
|
Provisions |
3.980 |
2.063 |
0.800 |
|
Total
Current Liabilities |
65.352
|
23.450 |
16.248 |
|
|
Net Current Assets |
54.930 |
214.073 |
36.610 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
400.481 |
298.684 |
53.929 |
|
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
138.212 |
29.090 |
0.665 |
|
|
Other Income |
10.625 |
5.155 |
0.646 |
|
|
Total Income |
148.837 |
34.245 |
1.311 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
[333.380] |
[118.144] |
[34.541] |
|
|
Provision for Taxation |
1.902 |
1.253 |
0.000 |
|
|
Profit/(Loss) After Tax |
[335.282] |
[119.397] |
[34.541] |
|
|
|
|
|
|
|
|
Earnings in Foreign Currency |
89.804 |
31.698 |
0.013 |
|
|
|
|
|
|
|
|
Imports |
36.441 |
32.348 |
0.000 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Interest |
6.916 |
0.854 |
0.126 |
|
|
Depreciation & Amortization |
13.847 |
4.700 |
0.825 |
|
|
Other Expenditure |
461.454 |
146.835 |
35.268 |
|
|
Profit on sale of Investments |
0.000 |
0.000 |
[0.367] |
|
Total Expenditure |
482.217 |
152.389 |
35.852 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total
Income |
(%) |
[225.27]
|
[348.66] |
[2634.71] |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
[241.21]
|
[406.13] |
[5194.14] |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
[132.87]
|
[46.87] |
[55.88] |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
[2.07]
|
[0.60] |
[0.64] |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.90
|
0.64 |
0.30 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.84
|
10.12 |
3.25 |
LOCAL AGENCY
FURTHER INFORMATION
Fixed Assets:
- Leasehold Improvements
- Office equipments
- Computers
- Furniture & Fixtures
Bankers Charges
Report as per Registry
|
This Form is for |
Creation of charge |
|
Charge
identification number of the charge to be modified |
NA |
|
Corporate
identity number of the company |
U15133DL2004PTC128848 |
|
Name of the
company |
FIELD FRESH FOODS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
H – 5/ 12
Mehrauli Road, New Delhi – 110 030, India |
|
Type of charge |
Ø
Book Debts Ø
Movable Property
|
|
Particular of
charge holder |
ICICI Bank
Limited Land Mark, Race
Course Circle, Vadodara 390007, Gujarat, India |
|
Nature of
description of the instrument creating or modifying the charge |
Deed of hypothecation
dated 20.09.2006 and Master facility agreement dated 18.09.2006 amounting Rs.
120 Millions for various credit facilities. |
|
Date of
instrument Creating the charge |
20.09.2006 |
|
Amount secured by
the charge |
Rs. 120.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
[a] Rate of
Interest 8% per annum [b] Terms of
repayment Working capital
facility is repayable on demand.
However the facility is for 12 months. [c] Margin no margin for LC
facility. For bank guarantee
facility, Guarantees covering disputed liability - 100%, financial
Guarantee-10%, Performance guarantee - 10% [d] Extent and
operation of the charge First charge over
the current assets of the Company |
|
Short particulars
of the property charged |
Field Fresh Foods
Private Limited C/o. Bafna Ware House, Gate No. 102/103, Ambe Hill Jaulke,
Taluka Dindori, Maharashtra Field Fresh Foods
Private Limited C/o. Punjab Agri Food Parks Private Limited, G. T. Road, Sirhind,
Fatehgarh, Sahib, Punjab, India |
|
Date of latest
modification prior to the present modification |
NA |
|
Particulars of
the present modification |
NA |
AS PER
WEBSITE DETAILS
PROFILE:
Subject, as the name suggests, is a company engaged in
providing premium quality fresh produce to the markets worldwide.
Subject was set up in the
Year 2004 with a vision to Link Indian Fields to the World by making
India a global food basket . The objective was not just to provide best quality
fresh produce to the world but also protect the land under cultivation and
quality of lives of the workers and their communities.
Subject promotes world class standards for agricultural
practices, progressive farming techniques & identification and adoption of
appropriate technologies.
For the purpose, the company has acquired 300 acres of land
from the Government of Punjab for its flagship operations & first R&D
farm called the FieldFresh Agri Centre of Excellence.
The Research & Development work, being undertaken at the
Model Farms, is benefiting a large number of partner & non-partner farmers.
About Subject
Values
Conducting itself with the highest degree of integrity,
complete transparency and sensitivity towards its stake holders, the
environment and providing value to its customers.
Mission
The mission is to be a dominant global player in the food
industry. To offer consistently high quality products and aim for value
leadership in the fresh produce category. Cutting edge product development,
deployment of appropriate technology, close understanding of the market trends
and consumer needs are the pillars of success of FieldFresh.
Subject aspires to create India’s first global
outsourcing opportunity in fresh produce.
Initiatives
- Subject is making a sincere and committed attempt to bridge the current
gap between the vast inherent potential of the agri-horticulture sector
with the requirements of the world market.
- It has acquired 300 acres of farm land
in Punjab which is the fulcrum point of R&D, Information &
knowledge dissemination and crop & varietals trials.
- The farm includes 42 acres of
state-of-the-art protected cultivation including, poly-houses, glass and
green houses and net houses.
- The company aims to engage directly or
indirectly over 1 lac people in its operations. This workforce in turn
will enhance social & economic benefits of the community at large.
- Subject has also partnered with one of India’s leading Agricultural
University, the PAU at Ludhiana, Punjab to share existing manpower
resources, employ PAU graduates and conduct periodic joint training &
development programmes
Business Approach
Safe food, good
agricultural practices, environment safety, fair trade practices and high
employee welfare standards are the underpinnings of the business approach.
FieldFresh Management
The greatest asset of
FieldFresh is the strength & experience of its Board of
Directors & Senior Management Team. It seeks, respects and values the
diverse qualities that its people bring to the company and are committed to
utilising the richness of knowledge, ideas, and experience this diversity provides.
Board of Directors & Management:
Mr. Sunil Bharti Mittal (Chairman)
Sunil Bharti Mittal is the Founder, Chairman and Group Managing
Director of Bharti Enterprises, India’s leading telecommunications
conglomerate. Mr. Mittal founded Bharti at the age of 18 after graduating from
Punjab University. Today he heads a successful enterprise, among the top 10 in
India, employing over 15,000 people.
Mr. Rakesh Bharti Mittal (Director)
Rakesh Bharti Mittal is the Vice-Chairman of Bharti Enterprises.
An electronics engineer, he has a rich experience in managing evolving business
operations and environments for over 29 years. He is the Vice Chairman &
Managing Director of Bharti Tele-Tech and is the Director in other group
companies of Bharti, engaged in telecom services & solutions, BPO, etc.
Mr Rolando C Gapud, (Director)
Mr Rolando C Gapud
holds a Master of Science in Industrial Management degree from the
Massachusetts Institute of Technology. He has over thirty years experience in
banking, finance and general management, having worked as CEO of several
Philippine companies, notably Security Bank and Trust Company, Oriental
Petroleum and Minerals Corp and Greenfield Development Corp. He was also the
COO of the joint venture operations of Bankers Trust and American Express in
the Philippines. He has served in the Boards of various major Philippine
companies, including the Development Bank of the Philippines, the development
finance arm of the Philippine Government. Mr Gapud is currently adviser to the
NutriAsia Group of Companies.
Mr Joselito D Campos, (Director)
Mr Joselito D
Campos, Jr holds an MBA from Cornell University. He is Chairman and CEO of the
NutriAsia Group of Companies, a major food conglomerate in the Philippines. He
is also Chairman of Fort Bonifacio Development Corp and Vice Chairman of
Ayala-Greenfield Development Corp, two major Philippine property developers. He
was formerly Chairman and CEO of United Laboratories, Inc and its regional
subsidiaries and affiliates. UniLab is the Philippines’ largest pharmaceutical
company with substantial operations in the Asian region. Mr Campos is the
Honourary Consul in the Philippines for the Republic of Seychelles. He is
Chairman of the Metropolitan Museum of Manila and is a Trustee of the Asia
Society in the Philippines, the Philippines-China Business Council and the
Philippine Business for Social Progress Foundation.
Sanjay Nandrajog (CEO)
Sanjay Nandrajog
joined FieldFresh Foods Pvt. Ltd. as the CEO in November 2007. He has been associated
with the Bharti group since January 2003, where he has held several leadership
positions in the Airtel Mobility business across both North and South business
hubs. His last assignment was as the Executive Director – International
Operations and Managed services, responsible for the Seychelles, Channel
Islands and Sri Lanka operations. A chemical engineer from IIT Delhi and an
alumnus of IIM Calcutta, Sanjay has a rich experience of over 21 years in
diverse industries like Telecom, Beverages, Cosmetics, Paints, and Fertilizers
and has worked in organizations like PepsiCo, Lakme & ICI in various Sales
& Marketing, General Managerial and leadership roles.
PRESS RELEASE
HON’BLE CM OF PUNJAB INAUGURATES
FIELDFRESH’S STATE-OF-THE-ART FRESH PRODUCE PACK-HOUSE
India’s largest fresh produce packaging facility spread
over 50,000 sq ft.
- The first fresh produce pack house in India to have hydro-cooling
facility
- Capacity to handle 16 tons of fresh produce per hour and 5
different kinds of product lines at the same time
- Cold Storage capacity of 500 tons with three temperature zones
- Facility to help increase shelf life of the produce and make
quality more reliable
Ludhiana, Wednesday, October 31, 2007: Mr. Parkash Singh Badal, Hon’ble
Chief Minister of Punjab today inaugurated FieldFresh’s state-of-the-art fresh
produce pack-house in Ladhowal, Ludhiana in the presence of Mr. Rakesh Bharti
Mittal, Vice Chairman, Bharti Enterprises and Mr. Rohtash Mal, Chief Executive
Officer, FieldFresh Foods (P) Ltd.
On the occasion, Mr. Rakesh Bharti Mittal said, “FieldFresh has
made significant investments towards introducing latest farm technology
and creating modern farm infrastructure
such as protected cultivation in Punjab. This state-of-the-art pack house is
another demonstration of our commitment towards developing world-class
agriculture facilities in the state. It will provide the much needed
strength to cold chain infrastructure in the state and help
us better serve our customers in India as
well as international markets.
Spread over 50,000 sq ft area, this state-of-the-art fresh produce
pack house is the first of its kind in the country and has hydro cooling and
forced cooling facilities. The pack-house, which is located in
FieldFresh Agri Centre of Excellence, in Ladhowal,
Ludhiana and has been built as per the GMP and HACCP
guidelines. This new facility will not only increase the shelf life of the
fresh produce but will also make the quality of the produce more reliable.
The facility has three packaging lines with a capacity to handle
several different kinds of products at the same time. The pack house is
equipped with pre-cooling chambers, cold storage facility, and equipment for
sorting, grading and handling of produce under controlled conditions. It
can handle sixteen tons of various vegetables per hour and has a cold storage
capacity of 500 tons with three different temperature zones.
FieldFresh also announced that it
has been permitted by the Government of Punjab
to have bilateral agreements for directly procuring
fresh produce from farmers in the State. The Company has set up a
procurement facility at the FieldFresh Agri Centre of Excellence for this
purpose.
Recently, the Company undertook an
initiative for its partner farmers in Punjab under
which 80 of its partner farmers received the
internationally acclaimed Eurepgap certification. This is expected to
provide further boost to export of fresh produce from Punjab to overseas
markets. FieldFresh undertook this initiative as a Primary Marketing
Organization.
FieldFresh, which is a 50:50 joint venture between Bharti
Enterprises and DMPL India Limited, has inducted Del Monte Pacific Limited as a
strategic partner in the Company. Del Monte brings with it its vast expertise
in agro operations, processing, marketing and distribution of premium-quality
food and beverage products.
FieldFresh has been exporting fresh fruits and vegetables to key
markets including UK, the Middle East and Europe. Given the growing opportunities
in the Indian economy, FieldFresh plans to enhance its focus through value
added products in the domestic market. It will also evolve a comprehensive
strategy for serving the needs of the Business-to-Business segment. The
company will continue to cater to export markets.
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. 39.27 |
|
UK Pound |
1 |
Rs. 76.88 |
|
Euro |
1 |
Rs. 58.40 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
37 |
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 |
|