MIRA INFORM
REPORT
|
Report
Date : |
22.07.2008 |
IDENTIFICATION DETAILS
|
Name : |
FORD INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
S P Koil Post, Kancheepuram
District Chengalpattu – 603204, Tamilnadu |
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|
|
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Country
: |
India |
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|
|
|
Financials
(as on) : |
31.03.2007 |
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|
|
|
Date
of Incorporation : |
09.08.2000 |
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|
|
|
Com.
Reg. No.: |
18-45537 |
|
|
|
|
CIN
No.: [Company
Identification No.] |
U34103TN2000PTC045537 |
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|
|
|
TAN
No.: [Tax Deduction
& Collection Account No.] |
CHEM02210F |
|
|
|
|
Legal
Form : |
Private Limited Liability Company. |
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|
|
|
Line
of Business : |
Manufacturing and Marketing of Passenger Cars (Ford Ikon) |
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
16000000 |
|
|
|
|
Status
: |
Satisfactory
|
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Payment
Behaviour : |
Regular |
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Litigation
: |
Clear |
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Comments
: |
Subject is a subsidiary of Ford Motor Company, USA. Indian
Operations are passing through difficult times. It continues to incur losses.
Payments are however report as correct and as per commitments. As it is backed by a well known MNC, it can be considered
normal for business dealings at usual trade terms and conditions. |
LOCATIONS
|
Registered
Office/ Factory : |
S P Koil Post, Kancheepuram
District Chengalpattu – 603204, Tamilnadu, India |
|
Tel.
No.: |
91-4114-254375, 91-44-27459754 |
|
Fax
No.: |
91-4114-254278, 91-44-27453850 |
|
Email
: |
|
|
Website
: |
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|
Area : |
350 Acres |
|
Location : |
Outskirts |
|
|
|
|
Workshop : |
72/1 East Coast Road,
Thiruvanmiyur, Chennai 600041, Tamil Nadu, India |
|
Tel.
No.: |
91-44-25022139/ 24759342 |
|
|
|
|
Showroom : |
800 Ponnamallee High Road,
Kilapuk, Chennai 600010, Tamil Nadu, India |
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Tel.
No.: |
91-44-25323202/ 26429585 |
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Fax
No.: |
91-44-26429736 |
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|
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Branch
Office : |
TNPL Building, 35 Anna Salai, Guindy,
Chennai 600032, Tamil Nadu, India |
|
Tel.
No.: |
91-44-22463398/ 22483921/ 25022139 |
DIRECTORS
|
Name : |
Mr. Mark Austin Schulz |
|
Designation
: |
Chairman |
|
Address
: |
One American Road, Dearborn MI 48126 |
|
Date of
Birth/Age : |
29.05.1952 |
|
Date
of Appointment : |
14.08.2002 |
|
Date
of Ceasing : |
11.06.2005 |
|
|
|
|
Name : |
Mr. David Eliot Friedman |
|
Designation
: |
Managing Director |
|
Address
: |
Ramanlyam Towers, Flat 7D, Greenways Road, Chennai-600028 |
|
Date
of Birth/Age : |
13.03.1962 |
|
Date
of Appointment : |
05.01.1999 |
|
Date
of Ceasing : |
31.08.2005 |
|
|
|
|
Name : |
Mr. Anand G. Mahindra |
|
Designation
: |
Director |
|
Address
: |
Gulistan, first Floor, 65, Napean Sea Road, Mumbai-400006 |
|
Date
of Birth/Age : |
01.05.1955 |
|
Date
of Appointment : |
12.03.1996 |
|
Date
of Ceasing : |
28.03.2005 |
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|
|
|
Name: |
Mr. David Kinden Schoch |
|
Designation: |
Director |
|
Date
of Birth/Age : |
27.04.1951 |
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|
|
|
Name: |
Mr. Bharat Doshi |
|
Designation: |
Director |
|
Address
: |
8, St. Helen’s Court, Dr. Gopal Rao Deshmukh Marg,
Mumbai-400026 |
|
Date
of Birth/Age : |
12.06.1949 |
|
Date
of Appointment : |
12.03.1996 |
|
Date
of Ceasing : |
28.03.2005 |
|
|
|
|
Name: |
Mr. John Vincent Felice |
|
Designation: |
Director |
|
Address
: |
20901, Oakwood Boufevard, Dearborn MI 48126, USA |
|
Date
of Birth/Age : |
14.11.1961 |
|
Date
of Appointment : |
14.08.2002 |
|
Date
of Ceasing : |
11.06.2005 |
|
|
|
|
Name: |
Mr. Sam Main Padam |
|
Designation: |
Director |
|
Address
: |
2D, Renga Manor, VII Cross Street, Shastri Nagar,
Chennai-600020, Tamilnadu |
|
Date
of Birth/Age : |
20.06.1962 |
|
Date
of Appointment : |
16.10.1996 |
|
Date
of Ceasing : |
11.03.2005 |
|
|
|
|
Name: |
Mr. George Henry Graham |
|
Designation: |
Whole Time Director |
|
Address
: |
D1, 37 Bishop Garden, R A Puram, Chennai-600028 |
|
Date
of Birth/Age : |
31.07.1951 |
|
Date
of Appointment : |
01.03.2002 |
|
Date
of Ceasing : |
06.05.2005 |
|
|
|
|
Name : |
Ms. Kathryn Lucy Millar (UK Citizen) |
|
Designation
: |
Director |
|
Address
: |
Flat
No.6, Mayflower Apartments, No.9, Sathyanarayana Avenue, RA Puram, Chennai
600 028, Tamil Nadu |
|
Date
of Birth/Age : |
04.07.1967 |
|
Date
of Appointment : |
16.07.2007 |
|
Email
: |
|
|
|
|
|
Name : |
Mr. Peter J Daniel (Australian Citizen) |
|
Designation
: |
Chairman |
|
Address
: |
32/96
Sukumvit 67 Road, North Prakanong, Bangkok 10110 |
|
Date
of Birth/Age : |
09.02.1947 |
|
Date
of Appointment : |
11.06.2005 |
|
|
|
|
Name : |
Mr. Philip G Thighe (Australian Citizen) |
|
Designation
: |
Director |
|
Address
: |
32/7
Sukumvit 67 Road, North Prakanong, Bangkok 10110 |
|
Date
of Birth/Age : |
21.03.1953 |
|
Date
of Appointment : |
11.06.2005 |
|
|
|
|
Name : |
Mr. Dave N Alden (US Citizen) |
|
Designation
: |
Director |
|
Address
: |
39/628
Nichada Thani, Samakee Road, Pakkreed, Nonthaburi, 11120, Thailand |
|
Date
of Birth/Age : |
02.05.1954 |
|
Date
of Appointment : |
11.06.2005 |
|
Email
: |
|
|
|
|
|
Name : |
Mr. Arvind Mathew (American) |
|
Designation
: |
Managing
Director |
|
Address
: |
23,
Prithvi Avenue, Alwarpet, Chennai 600018 |
|
Date
of Birth/Age : |
06.01.1960 |
|
Date of
Appointment : |
01.08.2005 |
|
Email
: |
|
|
|
|
|
Name : |
Mr. Phil
Horlock |
|
Designation
: |
Director |
|
Address
: |
Obne
American Road, Dearborn MI 48126, UK |
|
Date
of Birth/Age : |
31.07.1951 |
|
Date
of Appointment : |
01.03.2002 |
|
Date
of Ceasing : |
11.06.2005 |
|
|
|
|
Name : |
Mr. John
G. Parker |
|
Designation
: |
Chairman |
|
Date
of Birth/Age : |
31.08.1947 |
|
Date
of Appointment : |
27.02.2007 |
|
|
|
|
Name : |
Mr. Gopalan
Parthasarathy |
|
Designation
: |
Whole
Time Director |
|
Address
: |
5F, Block
1 Abbutsbury Apartment, 42 C P Ramasamy Road Alwarpet, Chennai – 600018,
Tamilnadu, India |
|
Date
of Birth/Age : |
15.09.1968 |
|
Date
of Appointment : |
16.07.2007 |
|
|
|
|
Name : |
Mr.
Ravindra K Kulkarni |
|
Designation
: |
Director |
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|
|
|
Name : |
Mr.
Ardeshir R Wadia |
|
Designation
: |
Director |
KEY EXECUTIVES
|
Name : |
Mr. S Ramesh (Indian) |
|
Designation
: |
Company
Secretary |
|
Address
: |
No.10
Panchayat Colony, Radha Nagar, Chrompet, Chennai 600 044 |
|
Date
of Birth/Age : |
11.10.1975 |
|
Date
of Appointment : |
10.06.2005 |
MAJOR SHAREHOLDERS
(As on 31.03.2007)
|
Names of Shareholders |
No. of Shares |
|
|
|
|
Ford
Motor Company |
92277064 |
|
Ford
International Ser |
17422936 |
|
|
|
|
Total |
109700000 |
(As on 31.03.2006)
|
Category |
Percentage |
|
|
|
|
Foreign
Holding (FIIs, FCs, FFIs, NRIs, OCBs, Or Others) |
100.00 |
BUSINESS DETAILS
|
Line
of Business : |
Manufacturing and Marketing of Passenger Cars (Ford Ikon) |
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|
||||
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Products
: |
·
Endeavour ·
Ikon ·
Mondeo ·
Fusion ·
Fiesta ·
Ford |
||||
|
|
|
||||
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Export: |
|
||||
|
Products: |
Cars |
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|
Countries : |
|
PRODUCTION STATUS
|
Particulars |
Unit |
Licensed Capacity |
Installed Capacity |
Actual Production |
|
|
|
|
|
|
|
Passenger
Cars |
Nos |
N.A. |
100000 |
28805 |
|
Spares
for Resale (Sales) |
Millions |
- |
- |
1221204 |
GENERAL INFORMATION
|
No. of
Employees : |
22000 |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers
: |
·
HDFC
Bank Limited
ICICI Bank Tower, 93 Santhome High
Road, Santhome, Chennai – 600028, Tamilnadu, India ·
Indian
Overseas Bank MM Nagar Branch, 34 Nandanar
StreetNH 2, MM Nagar 603 209
12 Riaz Garden Kodambakkam High
Road, Chennai, Tamilnadu, India |
||||||||||||||||||
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Facilities : |
Secured Loans : (As on 31.03.2005) (Rs. In millions)
Unsecured Loans :
|
|
|
|
|
Banking Relations : |
Satisfactory |
|
|
|
|
Auditors
: |
Lovelock and Lewes Chartered Accountants, Chennai. |
|
Address |
32, Khader Nawaz Khan Road,
Nungambakkam, Chennai – 600034, Chennai, Tamilnadu, India |
|
|
|
|
Holding
Company : |
Ford
Motor Company |
|
|
|
|
Associates/Subsidiaries
: |
Common Control ·
Ford Business Services Center Private Limited ·
Ford Motor Company Brazil Limited ·
Ford Motor Company Limited, Britain ·
Ford Espana ·
Ford Werke AG ·
Ford Trading Company LLC ·
Ford Motor Company of Australia Limited ·
Ford Global Technoloties Inc. ·
Ford Motor Company, Mexico ·
Ford Motor Company, China ·
Ford Motor Company, Phillipines ·
Ford Motor Company of Southern Africa
Manufacturing Pty Limited ·
Changan Ford Automobile Corporation Limited ·
Ford Vietnam Limited ·
Ford Argentina S.C.A ·
Ford Operations (Thailand) Company Limited ·
Ford Sales and Service (Thailand) Company Limited ·
Thirdware Solutions Limited ·
Ford of Korea ·
Ford of Sweden ·
Ford Motor Company, Indonesia ·
DCS Holding Company ·
Getrag Ford Transmissions Gmbh ·
Ford Technology Services India ·
Mazda Motor Corporation ·
Ford
of Spain |
CAPITAL STRUCTURE
Authorised
Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
125000000 |
Equity Shares |
Rs.100/-
each |
Rs.12500.000
millions |
|
50000000 |
Preference Shares |
Rs.100/-
each |
Rs.5000.000
Millions |
|
|
|
|
|
|
|
Total |
|
Rs.17500.000 Millions |
Issued,
Subscribed & Paid-up Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
109700000 |
Equity Shares |
Rs.100/-
each |
Rs.10970.000
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 |
|
|
|
|
|
1] Share
Capital |
10970.000 |
9860.810 |
8500.000 |
|
|
2] Share
Application Money |
0.000 |
1109.190 |
0.000 |
|
|
3]
Reserves & Surplus |
10.000 |
0.000 |
0.000 |
|
|
4]
(Accumulated Losses) |
(7688.037) |
(7884.129) |
[6408.476] |
|
NETWORTH
|
3291.963 |
3085.871 |
2091.524 |
|
|
LOAN
FUNDS |
|
|
|
|
|
1]
Secured Loans |
3924.136 |
4084.578 |
5416.257 |
|
|
2]
Unsecured Loans |
2845.538 |
1862.421 |
2380.868 |
|
TOTAL
BORROWING
|
6769.674 |
5946.999 |
7797.125 |
|
|
DEFERRED TAX
LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
TOTAL
|
10061.637 |
9032.870 |
9888.649 |
|
|
|
|
|
|
|
APPLICATION OF FUNDS
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block]
|
9035.876 |
10103.621 |
7462.547 |
|
Capital work-in-progress
|
485.526 |
59.755 |
2119.348 |
|
|
|
|
|
|
|
Unique Tooling Secured Advances
|
0.000 |
0.000 |
897.856 |
|
|
|
|
|
|
|
INVESTMENT
|
0.000 |
0.000 |
0.000 |
|
DEFERREX TAX ASSETS
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES
|
|
|
|
|
|
|
Inventories
|
1925.290
|
2300.437
|
2475.393
|
|
|
Sundry Debtors
|
2011.969
|
475.068
|
519.949
|
|
|
Cash & Bank Balances
|
539.912
|
273.642
|
51.621
|
|
|
Other Current Assets
|
79.825
|
43.345
|
45.940
|
|
|
Loans & Advances
|
1311.571
|
876.626
|
551.001
|
Total Current Assets
|
5868.567
|
3969.118
|
3643.904
|
|
Less : CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Current Liabilities
|
4998.994
|
4910.555
|
4083.556
|
|
|
Provisions
|
333.310
|
190.272
|
154.456
|
Total Current Liabilities
|
5332.304
|
5100.827
|
4238.012
|
|
Net
Current Assets
|
536.263
|
(1131.709)
|
[594.108]
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES
|
3.972 |
1.203 |
3.006 |
|
|
|
|
|
|
|
TOTAL
|
10061.637 |
9032.870 |
9888.649 |
|
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
|
|
Sales
Turnover |
|
14954.978 |
13451.046 |
|
|
Other Income |
|
0.000 |
328.314 |
|
|
Total
Income |
|
14954.978 |
13779.360 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
(1457.833) |
(119.440) |
|
|
Provision for Taxation |
|
17.821 |
0.000 |
|
|
Profit/(Loss) After Tax |
|
(1475.654) |
(119.440) |
|
|
|
|
|
|
|
|
Earnings
in Foreign Currency : |
|
|
|
|
|
|
Export Earnings |
|
0.000 |
1450.639 |
|
|
Commission Earnings |
|
0.000 |
113.786 |
|
Total
Earnings |
|
0.000 |
1564.425 |
|
|
|
|
|
|
|
|
Imports
: |
|
|
|
|
|
|
Raw Materials |
|
|
|
|
|
Purchase for resale |
|
0.000 |
230.489 |
|
|
Capital Goods |
|
0.000 |
186.705 |
|
|
Others |
|
0.000 |
3747.843 |
|
Total
Imports |
|
0.000 |
4165.037 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Cost of Goods Sold |
|
|
10871.235 |
|
|
Administrative Expenses |
|
16412.811 |
2046.817 |
|
|
Financial Charges |
|
|
301.146 |
|
|
Depreciation & Amortization |
|
|
740.870 |
|
Total
Expenditure |
|
16412.811 |
13960.069 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT /
Total Income |
(%) |
NA
|
(9.86)
|
(0.87) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
(9.74)
|
(0.89) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
(10.35)
|
(0.58) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
(0.47)
|
(1.41) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.68 |
3.58
|
0.92 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.10
|
0.77
|
0.86 |
LOCAL AGENCY FURTHER
INFORMATION
Fixed Assets:
- Land-Freehold
- Leasehold
Improvement
- Building
- Plant
and Machinery
- Computers
- Furniture
and Fixtures
- Vehicles
Form 8
|
Corporation identity number or foreign company registrations
number of the company |
U34103TN2000PTC045537 |
|
Name of the company |
FORD INDIA PRIVATE LIMITED |
|
Address |
S P Koil Post, Chengalpattu-
603204, Kancheepuram District, Tamil Nadu, India |
|
This Form is for |
Modification of charge |
|
Type of Charges |
Immovable property |
|
Particular of the charge holder |
Indan Overseas Bank Limited, Nandanar Street, NH2,
Maralmalai Nagar, Tamilnadu-603209 |
|
Nature or description of the instrument creating
charge |
No instrument was execured but on 15.03.2007 a mortgage
was created by the company infavour of Indan Overseas Bank by deposit of
title deeds with ICICI Bank in respect of company’s immovable properties
situated at Klikarabai and Thirukatchur, Chengelpur Taluk, Kancheepuram
District in the state of Tamilnadu in order to create a security thereon as
tend byway of mortgage by deposit of title deeds pursuant to the resolution
passed by the directors of the company on 15.12.2005 |
|
Date of the instrument creating charge |
15.03.2007 |
|
Amount Secure by the charge |
Rs.250.000 millions |
|
Brief of the principal terms and conditions and extent and
operation of the charge |
Rate of interest As stipulated in the loan agreement |
|
Particulars of the Property charged |
The company’s immovable poroerties
situiated at Kilkaranai and Thirutchur, Chegelpur Taluk, Kancheepuram
District in the state of Tamilnadu as defined in the loan agreement and as
defined in the memorandum of entry. |
|
Particulars of the present modification |
No instrument was executed but on 15.03.2007 a mortgage
was created by the company in favour of Indian Overseas Bank by deposit of
title deeds with ICICI Bank in respect of company’s immovable properties situated
at Klikarabai and Thirukatchur, Chengelpur Taluk, Kancheepuram District in
the state of Tamilnadu in order to create a security thereon as tand byway of
mortgage by deposit of title deeds pursuant to the resolution passed by the
directors of the company on 15.12.2007 |
Ford India
has become a major player in the preservation of environment
28/09/2005 Ford
to name its new model 'Fiesta' in India
10/08/2005 V.
Sivaramakrishnan appointed Vice-President of Sales, Marketing and
Service at Ford India
10/08/2005 Special
offers for rain damaged Ford vehicles in Mumbai
25/07/2005 Ford?s
next generation TDCi technology to power the new model.
06/07/2005 Arvind
Mathew appointed Managing Director and President of Ford India.
25/06/2005 Ford
inaugurates Brand@Retail dealership facility at Kottayam
23/06/2005 Wasan
Ford showcases the new Ford Brand@Retail look.
21/06/2005 New
Ford Dealership Inaugurated at Trichur
19/04/2005 Ford
steps up presence in the North East. New Brand @ Retail showroom at Tinsukia
18/04/2005 Ford
enhances service support at Allahabad
17/04/2005 Ford
inaugurates KS Ford dealership in Bhilwara
16/04/2005 Ford
enhances to Brand @ Retail facility at Udaipur
17/03/2005 Latest
Ford Mondeo debuts in India at Rs. 14.20 Lakhs (ex showroom, New Delhi)
07/03/2005 March
Masti - It's time to buy a Ford!
03/03/2005 Ford
- Fusion-Wanna go on a wild trip? Karega"
02/02/2005 Ford
inaugurates PVS Ford at Calicut
21/01/2005 Ford
inaugurates new showroom at Bangalore
17/12/2004 New
Ford showroom at Prabhadevi Mumbai.
24/11/2004 New
Ford Dealership inaugurated in Hyderabad
02/11/2004 Ford
Chief Operating Officer flags off First Fusion in India.
20/10/2004 5000th
Container shipped from Ford India Export Plant
11/10/2004 Ford
ramps up dealership presence in NCR
11/10/2004 Five
years of Josh. Ford Ikon Celebrates 5th anniversary
30/09/2004 Ford
launches 'Total Maintenance Plan' for the Josh customer
25/08/2004 Ford
announces launch of Ford Fusion an Urban Activity Vehicle(UAV)- Part 2
25/08/2004 Ford
announces launch of Ford Fusion an Urban Activity Vehicle(UAV)
10/08/2004 Ford
Launches New Irresistible Ikon
02/08/2004 Ford
dealership inaugurated at Trichy
30/07/2004 Ford
dealership inaugurated at Nellore
30/07/2004 Ford
plans to ramp up dealership facility in Madurai
13/07/2004 Ford
launches Cargainz a unique Customer Loyalty programme
14/06/2004 Ford
India on the Fast Track
01/04/2004 Ford
India Posts Highest Sales Ever
25/03/2004 Aditya
Ford to provide world-class service to Ford customers in Vidarbha
17/03/2004 Brij
Ford to cater to Ford customers in the Eastern UP region
02/01/2004 Ford
creates a unique experience for its customers
14/10/2003 Ford
Endeavour at Rs. 12.90 Lakhs, Ex-Delhi
24/09/2003 Ford
Rolls out 'Endeavour' SUV at Chennai Plant
05/08/2003 Ford
Does It With Flair
16/07/2003 Ford
India launches Ikon NXT SXi
19/06/2003 Ford
Celebrates Centennial in India
04/06/2003 Ford
Motor Company awards World Excellence Award to Cooper Tire and Rubber
Company, India Private Limited
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.71 |
|
UK Pound |
1 |
Rs.85.11 |
|
Euro |
1 |
Rs.67.73 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP
CAPITAL |
1~10 |
6 |
|
OPERATING
SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS
SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT
LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT
POINTS |
|
|
|
--BANK
CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER
ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT
POINTS |
|
|
|
--SOLE
DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER
MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
42 |
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
|
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/normal. |
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 |