MIRA
INFORM REPORT
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Report Date : |
04.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
FAIRMATE CHEMICALS PRIVATE LIMITED |
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Registered Office : |
1514, Ranchod Bhavan, Montivasan Sheri, Saraspur, Ahmedabad – 380 008,
Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
27.06.1995 |
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Com. Reg. No.: |
04 – 26528 |
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CIN No.: [Company
Identification No.] |
U65910GJ1995PTC026528 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMF00074E |
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PAN No.: [Permanent
Account No.] |
AAACF1778M |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Manufacturing and Marketing of Construction Chemicals. |
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 4315 |
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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 company having satisfactory track. Trade relations are fair.
Profit margin is under severe pressure. Payments are reported as correct and
as per commitment. The company can
be considered normal for business dealings at usual trade terms and
conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Himesh |
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Designation : |
Department of General Finance |
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Contact No.: |
91-9879613009 |
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Date : |
26.06.2008 |
LOCATIONS
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Registered Office : |
1514, Ranchod Bhavan, Montivasan Sheri, Saraspur, Ahmedabad – 380 008,
Gujarat, India |
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Tel. No.: |
91-79-22160847/ 26465577 |
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Fax No.: |
91-79-22122545 |
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E-Mail : |
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Website : |
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Head Office : |
Sai Sudha, 8/1
Arunoday Society, Alkapuri, Vadodara -390007, Gujarat, India |
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Tel. No.: |
91-265-2358173-74/2331193 |
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Fax No.: |
91-265-2338733 |
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Branch Office : |
Located At: Bhbubneshwar Office 1071/14, Jagmohan Nagar, Nr.
Iter Engineering College, Bhuneshwar-751 030 Tel./Fax No.: 91-674-23504480 Mobile No.: 91-9338204229 Bangalore Office Gauri
Shankar Nilaya, Ground Floor, 1st Cross, Vinayaka Layout habbal,
Bangalore – 24, Karnataka, India Tel. No.: 91-80-23639852 Fax No.: 91-80-23639851 E-Mail : jawas@fairmate.net
Delhi Office Ground Floor, K-13A, Kalkaji,
Nr. Balaji Estate, New DelhiI-110019 Tel. No.: 91-11-26231726 Mobile No: 91-9312608008 Fax No.: 91-11-26231727 E-Mail : delhi@fairmate.net
Kolkata Office 238
A, Rash Behari Avenue, Kolkata-700 019 Tel. No.: 91-33-4404932 Delhi Office 23/7,
Raja Park, Shakur Basti, DelhiI-110034 Tel. No.: 91-11-27192787 Mobile No: 91-98105515911 Fax No.: 91-11-27101590 Mumbai Office 111, Orbit
Industrial Estate, 1st Floor, Opp. Tangent Furniture Mall,
Chincholi Bunder, off. Link Road, Malad (West), Mumbai – 400064, Maharashtra,
India Tel / Fax No.:
91-22-28794044/45 Sangli
Office Mobile No: 91-9850817020 Udaipur Office Mobile No:
91-9829699943 Jalandhar Office: Mobile No:
91-9815039539 Panipat Office: Mobile No:
91-9813972551 Agra Office: Mobile No:
91-9719402888 Cochin Office: Mobile No:
91-9847169473 Lucknow Office 3/170, Vinay Khand, Gomti Nagar, Lucknow-10. Tel. No.: 91-522-2398102 Mobile No: 91-9335219517 Trissure
Office Mobile No: 91-9447512483 Dubai Office Tel. No.: 97142669292 Nepal
Office Tel. No.: 91-9771-5552723 Fax No.: 91-9771-5559949 |
DIRECTORS
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Name : |
Mr. Rakesh B. Shah |
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Designation : |
Director |
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Address : |
3, Ramkrupa Apartment, Panchvati, 1st Lane, Ambawadi, Ahmedabad – 380 006, Gujarat, India |
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Qualification : |
B.Com |
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Date of Appointment : |
01.04.1997 |
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Name : |
Mr. Umesh B. Shah |
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Designation : |
Director |
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Address : |
3, Ramkrupa Apartment, Panchvati, 1st Lane, Ambawadi, Ahmedabad – 380 006, Gujarat, India |
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Qualification : |
B.Com |
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Date of Appointment : |
01.09.2000 |
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Name : |
Mr. Bhavesh Shah |
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Designation : |
Director |
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Address : |
3, Ramkrupa Apartment, Panchvati, 1st Lane, Ambawadi, Ahmedabad – 380 006, Gujarat, India |
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Qualification : |
B.Com |
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Date of Appointment : |
01.04.1999 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 30.09.2005
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Names of Shareholders |
No. of Shares |
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Mr. Baldevbhai Shah |
10 |
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Mr. Rakesh Shah |
21800 |
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Mr. Umesh Shah |
21800 |
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Mr. Baldevbhai N. Shah Mr. Rakesh B. Shah (Joint) |
1000 |
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Mr. Rakesh B. Shah Mrs. Jaimini R. Shah |
1000 |
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Mr. Umesh B. Shah Mrs. Falguni U. Shah |
1000 |
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Mr. Bhavesh B. Shah Mrs. Swati B. Shah |
1000 |
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Mrs. Jaimini R. Shah Mr. Rakesh B. Shah (Joint) |
1000 |
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Mrs. Falguni U. Shah Mr. Umesh B. Shah |
1000 |
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Mrs. Swati B. Shah Mr. Bhavesh B. Shah (Joint) |
1000 |
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Mr. Baldevbhai N. Shah Mr. Rakesh B. Shah (Joint) Mr. Umesh B. Shah (Joint) |
1000 |
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Mr. Ranchodbhai N.Shah Mr. Umesh B. Shah |
1000 |
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Mr. Ishwarbhai J. Patel Mr. Rajesh I. Patel (Joint) Mrs. Ratnaben I. Patel (Joint) |
10 |
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Mr. Abhesang P. Patel Mr. Ramesh A. Patel (Joint) Mr. Chandu A. Patel (Joint) |
10 |
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Mrs. Prabhuben D. Patel Mrs. Laxmiben R. Patel (Joint) Mrs. Gitaben V. Patel (Joint) |
10 |
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Mr. Amarsang J. Patel Mrs. Laxmiben R. Patel (Joint) Mrs. Ramilaben A. Patel (Joint) |
10 |
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Mr. Dhanjibhai B. Patel Mr. Vasant J. Patel (Joint) Mr. Royajibhai B. Patel (Joint) |
10 |
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Mr. Vinod I. Patel Mrs. Manjulaben I. Patel (Joint) Mr. Chandrakant I. Khalas (Joint) |
10 |
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Mr. Shravanbhai J. Patel |
10 |
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Mr. Bhavesh B. Shah |
20800 |
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Mr. Ranchodbhai N. Shah |
3500 |
Equity share breakup (Percentage of total equity)
As on 31.03.2007
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Sr. No. |
Category |
Percentage |
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1. |
Directors or
relatives of directors. |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing and Marketing of Construction Chemicals. |
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Products : |
v Concrete
admixtures v Waterproofing
systems v Engineering
grouts v Industrial
flooring systems v Protective
coatings v Concrete repairs v Surface treatment
v Pre packed
concrete and mortar v Polysulphide
sealants v Highway repairs. |
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Exports : |
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Products : |
v Chemicals |
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Countries : |
v UAE |
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Imports : |
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Products : |
v Raw Materials |
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Countries : |
v UK v UAE v Franch |
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Terms : |
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Selling : |
Credit ( 60 days) |
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Purchasing : |
Credit, Payment against document. |
GENERAL
INFORMATION
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Customers : |
v Reliance Petroleum Limited v Neyvelli Lignite Corporation v Nirma Limited. v National Hydro Power Corporation Limited v National Thermal Power Corporation Limited v National Highway Authority of India v Steel Authority of India Limited v
Nirma
Limited, Bhavnagar |
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No. of Employees : |
Total : 80 ( Office : 15, Factory : 65) |
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Bankers : |
v Punjab National
Bank v HDFC Bank v
The Saraspur
Nagarik Cooperative Bank Limited |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Jayesh Patel and Company Chartered Accountants |
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Address : |
B – 35, Ajanta Commercial Complex, Income Tax Char Rasta, Ahmedabad –
380014, Gujarat, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100,000 |
Equity shares |
Rs. 10/- each |
Rs. 1.000 million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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76,980 |
Equity shares |
Rs. 10/-
each |
Rs. 0.770
million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.770 |
0.770 |
0.769 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.093 |
0.113 |
0.168 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
0.863 |
0.883 |
0.937 |
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LOAN FUNDS |
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1] Secured Loans |
0.837 |
0.000 |
0.000 |
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2] Unsecured Loans |
8.543 |
6.324 |
2.956 |
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TOTAL BORROWING |
9.380 |
6.324 |
2.956 |
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DEFERRED TAX LIABILITIES |
0.095 |
0.000 |
0.000 |
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TOTAL |
10.338 |
7.207 |
3.893 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
5.638 |
4.779 |
3.819 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.001 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
9.249 |
6.762 |
5.086 |
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Sundry Debtors |
19.356 |
12.627 |
10.170 |
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Cash & Bank Balances |
1.209 |
1.678 |
1.112 |
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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Loans & Advances |
3.432 |
3.630 |
3.975 |
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Total
Current Assets |
33.246 |
24.697 |
20.343 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
28.254 |
22.043 |
20.177 |
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Provisions |
0.292 |
0.226 |
0.093 |
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Total
Current Liabilities |
28.546 |
22.269 |
20.270 |
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Net Current Assets |
4.700 |
2.428 |
0.073 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
10.338 |
7.207 |
3.893 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
69.369 |
51.763 |
33.441 |
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Other Income |
1.038 |
0.732 |
0.000 |
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Total Income |
70.407 |
52.495 |
33.441 |
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Profit/(Loss) Before Tax |
0.141 |
0.078 |
0.222 |
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Provision for Taxation |
0.161 |
0.134 |
0.093 |
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Profit/(Loss) After Tax |
(0.020) |
(0.056) |
0.129 |
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Imports |
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Other Imports |
NA |
NA |
0.636 |
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Total Imports |
NA |
NA |
0.636 |
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Expenditures : |
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Increase/(Decrease) in Finished Goods |
(0.404) |
(0.608) |
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Financial Charges |
0.287 |
0.094 |
33.218 |
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Depreciation & Amortization |
0.987 |
0.699 |
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Other Expenditure |
69.396 |
52.232 |
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Total Expenditure |
70.266 |
52.417 |
33.218 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
(0.03) |
(0.11) |
0.53 |
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Net Profit Margin (PBT/Sales) |
(%) |
0.20 |
0.15 |
0.66 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.20 |
0.15 |
0.91 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.16 |
0.09 |
0.24 |
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Debt Equity Ratio (Total Liability/Networth) |
|
33.08 |
25.22 |
3.15 |
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Current Ratio (Current Asset/Current Liability) |
|
1.16 |
1.11 |
1.00 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References
v
Fairmate Chemicals FZE – USA
v
City Polymer Chemical Private Limited
v
Gujarat City Private Limited
v
CPS Color India
Form 8
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Name of the company |
FAIRMATE CHEMICALS PRIVATE LIMITED |
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Presented By |
Director |
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1) Date and description of instrument creating the change |
Deed of principal hypothecation dated 17th day of April 2000 between M/s. FAIRMATE CHEMICALS PRIVATE LIMITED (therein and hereinafter called the company) of the one part and Gujarat State Financial Corporation (therein and hereinafter called ‘GSFC’ ) of the other part. No instrument was executed but on the 17th day of April 2000 the company created an equitable mortgage in favour of Gujarat State Financial Corporation (GSFC) by depositing title deeds and documentrs with GSFC, relating to company’s immovable property’s being free hold land admeasuring 22000 Sq. ft, situated at R. S. No. 129, Block No. 235, Mahuvad, Tal: Padra, Dist: Baroda all in the state of Gujarat with intent to create a security thereon as and by way of equitable mortgage persuent to the resolution passed by its board of directors on the 1st day of march 2000. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 3.450 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 |
The whole of the movable and immovable properties of the company including the company’s movable plant and machinery, spares, tools accessories, electrical installation erections, furniture, fittings, fixtures, vehicles and other movables structures, building godowns constructed or to be constructed hereafter, (save and except book debts) (therein after collectively called the said properties) short particulars whereof are given in annexure “A” and “B” hereto. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
In consideration of GSFC having agreed to land and advance to the company the said loan of Rs. 3.450 millions it was agreed interalia as follows: 1. Agreement by the company to repay to GSFC the said loan of Rs. 3.450 millions with in a period of 7 years by 25 quarterly instalments to commence after 12 months from the date of first instalment of the loan disbursed together with compound interest at the rate of 17% p.a. In case GSFC desides to make interin disbursement, this will not be constructed at sanction of financial assistrance. In the absence of IDBI refinance, interim disbursement made by the GSFC, if any is liable to recalled on demand at the absolute discreation of GSFC. In case of default either on principal or interest or loan, company shall pay additional interest p.a.by way of liquidated damagesfor the period in default and on the amount in default. The company shall be allowed 1% rebate on gross rate of interest in case of prompt payment of interest and principal installment in due date. 2. As security for due repayment to GSFC of all principal moneys interest and all moneys to GSFC the whole of the movable properties of the company’s including the company’s movable plant and machinery spares, tools, accessories, furniture, fittings, fixture, erections vehicle and other movable (save and except book debts) and the immovable property of the company together with structure, super structures, constructed or to be constructed there on at 22000 Sq. ft. R S No. 129, block No. 235, Madhuvad, Tal: padra, Dist: Baroda. In the state of Gujarat and to be subjectto the prior charges in favour of the company’s Bankers on its stocks of raw materials, goods in process, semi finished goods and finished goods, stores not relating to plant and machinery or any spare parts thereof and other movable permitted by GSFC to secure borrowings for working capital requirements. 3. GSFC entitled to determine the amount to be advanced out of the loan or allow outstanding. 4. Certain covenant on behalf of the company, power of GSFC to inspect and include the goods and acceleration of debts in certain events, specified therein power of entry, insure super intend and/or take charge of and/or to seize, recover, receive, appoint receiver and/or take possession of all or any of the said goods, sell buy public auction or private contract the said goods, sell buy public auction or private contract the said goods in such manner as GSFC should think fit etc. 5. The company shall maintain a minimum margin of 35% with an over all margin of 35.14% on eligible security during the currency of loan. |
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5) Name and Address and description of the person entitled to the charge. |
Gujarat State Financial Corporation Block No. 10-11, Udyog Bhavan, Sector – 11, Gandhinagar, a state financial corporation established for the state of Gujarat. |
AS Per Website Details
Company Profile:
Subject was established in 1982 by Shri.
Baldev Shah, their group chairman.
Subject has divergent
activities like manufacturing, marketing, farming and financing where major
thrust is in manufacturing and marketing of speciality chemicals for
civil engineering industry. Under the aiges of the Chairman and his
continuous involvement, the company has progressed fast towards distant
horizons with power of above 250 personnel, all poised to grow further and to
become a market leader.
Since 1982, subject
is efficiently providing value added and quality oriented services to the civil
engineering industries.
Subject is closely
integrated environment made it to venture into construction chemicals business,
and since then, it is continuously and reliably serving all its high valued
customers to their utmost satisfaction
Subject is manufacturing
a comprehensive range of products like Concrete admixtures, Waterproofing
systems, Engineering grouts, Industrial flooring systems, Protective coatings,
Concrete repairs, Surface treatment, Prepacked concrete and mortar,
Polysulphide sealants, Roadcrete varieties of product for highway repairs. The
information given about products are based on both current development work and
many years of field experience.
The marketing and
manufacturing activities which are pre-excellence have been further expanded to
various parts of India and the neighbouring countries. Subject has numerous
satisfied customers within India and abroad.
Factory Set Up:
The Mother Plant of
Fairmate is located in Baroda in an area of approximately 2,00,000 sq. ft.
surrounded by lush green field. The 25,000 sq. ft. plant area is designed to
accommodate manufacturing of both liquid and powder products to the tune of
13,50,000 liters. & 15,00,000 kgs., capacity per month, respectively.
The confidence,
trust and encouragement reposed on us by their esteemed clients, consultants
and well wishers prompted us to start their manufacturing plant in Bangalore,
Mumbai and Bhubneshwar and at all these plants, production has been streamlined
a view to extend their dependable services round the clock.
Future Plants:
The market
opportunities necessitated their presence at overseas market and they opted
this opportunity to open a plant at Sharjaha, U.A.E.
Fairmate Collaboration :
To provide the
international class quality products at affordable price subject has ventured
into technical collaboration with, Resin Building Products Limited, Doncaster,
U.K. and Morton Chemicals, U.S.A.
Resin Building
Product of U.K. is one of the leader in European technology with a very rich
experience in Resin based speciality chemicals for civil engineering
application. It also manufactures a wide range of latest resin based products
for civil engineering with quality and value added services. They have joined
hands to bring the European Technology and marketing culture.
Morton Chemicals,
U.S.A. the pioneers in manufacturing polysulfide products in the world. Morton
is the leader in the field of polysulfide products with their technical support
Subject is launching a very wide range of polysulfide products.
Another feather in
Fairmate’s cap – procures selling rights for 5 countries including India for
latest technology Carbon Fibers manufactured by Hankuk Fibres Limited., Korea
in the year 2002.
Subject has entered
technical tie up with Green Mountain Inc. of USA for their high performance
single pack polyurethane grouting for water leakage and soil stabilization.
In addition to this
Fairmate has entered 2 more collaboration. One with Neptune Research Inc. for their
innovative product of glass fibre taps to solve leakage from pipe, metal
surface etc and other with Polymeric System Inc. for their epoxy putty for
various applications.
Fairmate Network:
To provide
international class of quality services. They have a wide team of dealers,
distributors and applicators. In additional to their dealer's team, they have
their own offices to provide technical and commercial support in all major
towns of the country.
Fairmate has made
its marketing plans keeping customers in centre point. They have made their
presence felt in market by offering quality products at reasonable price with
rapid and reliable services, back up by freely and readily available technical
advice and assistance.
Fairmate Legal:
Information in this
document is subject to change without notice. No part of this document may be
reproduced or transmitted in any form or by any means, electronic or
mechanical, for any purpose, without the express written permission of Fairamte
Chemicals Private Limited. If, however, the only means of access is electronic,
permission to print one copy is hereby granted.
Trademarks
All The Products
Has Registered Trade Mark. Other product and company names mentioned herein may
be the trademarks of their respective owners.
Datasheet Information
The information
given on each data sheet is based on both current development work and may
years field experience. Whilst every effort is made to ensure that the
information is reliable, they can not accept responsibility for any work
carried out with their materials as they have no control over methods of
application, site conditions etc. In view of the continuing research and
development being undertaken in their laboratories they advise customers in
their own interest to ensure that this data sheet has not been supersede by a
more up-to-date publication. All products are sold subject to their standard
conditions of sale which are available on request. Field services, where
provided, does not constitute supervisory responsibility.
Technical Service
While new advances
and changes will take place one thing will never change is quality and meeting
special needs of customer. Their laboratory in Baroda and technical personnel
& experts are available to provide additional information and technical
assistance. They are eager to work with you in development of new product and
solve the problem.
Concrete Admixture:
A variety of
chloride free and chloride based concrete admixtures for increasing the
workability of concrete which includes , Normal plasticizer, Superplasticiser,
Retarder, Slump retainer and Accelator etc.
v
Faircrete N
v
Faircrete HP
v
Fairflo
v
Faircrete R2
v
Faircrete RMW
v
Fairplast IP
v
Faircrete AE
v
Faircrete NC
v
Faircrete W
v
Spraycrete
v
Fair Fibre
Contractors
v
Shapoorji Pallonji and Company Limited
v
L and T ECC Group
v
Hindustan Construction Company Limited
v
Simplex Concrete Piles (India) Limited
v
Petron Civil Engg. Limited
v
Gammon (India) Limited
v
Srinivas Civil Works
v
Bridge and Roof Company (India) Limited
v
U.B. Engineering Limited
v
Paharpur Cooling Towers Limited
v
Bhageeratha Engg. Limited
v
Spic-Jel Engg. Dodsal Limited
v
Vijay Mistry Construction Private Limited
Consultants
v
Engineers India Limited
v Kvaerner
Power Gas Limited
v Bechtel
Limited., France
v Gherzi
Eastern
v Mecon
Rites
Toyo Engineering
v Ircon
International
v Consulting
Engineering Services
v Le-ND Consultants
v Humphry and
Glasgow
v Tata Consultants
v
SMPS Consultants
Fixed Assets
v
Computer and
Printer
v
Furniture and
Fixture
v
Artwork and
Positive
v
Lab Equipment
v
Machinery
v
Motor car
v
Telephone
Instruments
v
EPABX system
v
A.C. Machine
v
Refrigerator
v
Electrical
Installation
v
Factory
Building
v
Washing
Machine
v
New Computer
and Lap Top
v
Land Purchase
v
Multimedia
Projector
v
Eta Vibro
Screen
v
Fax Machine
v
Pedastel Fan
v
Toshiba 1560
Copier
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 :
The 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.
The 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. 43.30 |
|
UK Pound |
1 |
Rs. 86.13 |
|
Euro |
1 |
Rs. 68.72 |
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 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
NO |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
YES |
|
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 |
|
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, they have no basis upon which to
recommend credit dealings |
No Rating |
|