MIRA INFORM REPORT

 

 

 

Report Date :

25.07.2008

 

IDENTIFICATION DETAILS

 

Name :

JAYPEE ENGINEERING AND HYDRAULIC EQUIPMENT COMPANY PRIVATE LIMITED

 

 

Registered Office :

24, Strand Road, Kolkata – 700 001, West Bengal

 

 

Country :

India  

 

 

Financials (as on) :

31.03.2007

 

 

Date of Incorporation :

26.05.1995

 

 

Com. Reg. No.:

21-71783

 

 

CIN No.:

[Company Identification No.]

U27104WB1995PTC071783

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

CALJ02106G

 

 

Legal Form :

Private Limited Liability Company 

 

 

Line of Business :

Manufacturer of Road Roller, Tower Crane, Hydraulic Tapper, etc. 

 

 

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 59000

 

 

Status :

Improving

 

 

Payment Behaviour :

Slow

 

 

Litigation :

Clear

 

 

Comments :

Subject is an old and established company and its financial position is improving. The company has been successful in wiping off all its previous losses. Trade relations are fair. Payments are reported as slow but correct.

 

The company can be considered normal for business dealings at usual trade terms and conditions.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Deepak

Designation :

Finance Head

Date :

23.07.2008

 

 

LOCATIONS

 

Registered Office/Head Office :

24, Strand Road, Kolkata – 700 001, West Bengal, India

Tel. No.:

91-33-22305810

Fax No.:

91-33-22307199

E-Mail :

jehel@cal2.vsnl.net.in

USCltd@vsnl.com

Area :

3000 sq. ft.

Location :

Rented – Commercial

 

 

Factory:

Anil Nagar, Budge Budge Trunk Road, Govindpur, District South 24 Paraganas, Kolkata, West Bengal, India

Location :

Owned – Industrial

 

 

Corporate Office :

Anil Nagar, Budge Budge Trunk Road, Govindpur, District South 24 Paraganas, Kolkata, West Bengal-700139, India

Location :

Owned – Industrial

 

 

DIRECTORS

 

 

Name :

Mr. Jagdish Prasad Agarwal 

Designation :

Managing Director

Address :

G-106, Block ’F’, New Acipore, Kolkata-700053, West Bengal, Mr.

Date of Birth/Age :

27.09.1938

Qualification :

B. Com.

Experience :

48 Years

Other Directorships :

  1. Calcutta Forgings and Steel Industries Private Limited
  2. J P Alloys and Steel Private Limited 

Election Commission Identity Card No.

W B-23-150-015394

 

 

Name :

Mr. Shekhar Agarwal

Designation :

Director

Address:

G-106, Block ’F’, New Acipore, Kolkata-700053, West Bengal, India

Date of Birth:

21.09.1964

Qualification:

Post Graduation

Date of Appointment:

26.05.1995

 

 

Name :

Mrs. Bimla Devi Agarwal

Designation :

Director

 

 

Name :

Mr. Dilip Kumar Ghosh

Designation :

Whole time Director

Address:

81/5 Baroda Avenue, Kolkata-700084, West Bengal, India

Date of Birth:

09.10.1947

Qualification:

Technical Engineer

Date of Appointment:

01.04.2008

 

 

Name :

Mrs. Bela Agarwal

Designation :

Whole Time Director

Address:

G-106, Block ’F’, New Acipore, Kolkata-700053, West Bengal, India

Date of Birth:

29.04.1967

Qualification:

 

Date of Appointment:

26.05.1995

Election Commission Identity Card No.

W B-23-150-015397

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 29.09.2003

Names of Shareholders

 

No. of Shares

 

 

 

Mr. Jagdish Prasad Agarwal

 

25100

Mrs. Bimla  Devi Agarwal

 

40000

Mrs. Bela Agarwal

 

100

Mr. Nandlal Agarwal

 

100

Mr. Subhash Agarwal

 

100

Mrs. Nilam Agarwal

 

14000

Ms. Pushpa Gupta

 

16000

Ms. Kiran Gupta

 

14000

Mr. Surekha Suresh Chand

 

10000

Techno Builders Private Limited

 

30000

Jai Mata Finance Company Limited

 

20000

Ms. Rama Devi Agarwal

 

15000

Mr. Sushil Kumar Gupta

 

12500

Ms. Saroj Agarwal

 

11000

Mrs. Sabita Devi Mittal

 

8000

Mr. Rohitash Chandra Mittal

 

16000

Mr. MIthilesh Agarwal

 

11000

Mr. Prem Chand Agarwal

 

6000

Mr. Mamm Chand MIttal

 

16000

Mr. Hemant Kumar Saraf

 

14000

Mr. Dinesh Agarwal

 

11000

Mr. Deepak Agarwal

 

6500

Mr. Mohan Kumar Goenka

 

7500

M r. Suresh Kumar Agarwal

 

12500

Mr. Shyam Sunder Agarwal

 

20000

Ms. Nirmla Agarwal

 

12500

Gaygay Electro Traders

 

26500

Mr. Piyush Kumar Tantia

 

10000

Mr. Sunil Kumar Gupta

 

11000

S K Mercentile Credit

 

20000

Sweetly Trade and Agency

 

55000

Sweetly Holdings Private Limited

 

25000

Kamlesh Mercentile Private Limited

 

40000

Mr. Om Prakash Agarwal

 

15000

Mr. Bajaranglala Bhoot

 

7000

Mr. Swapan Kumar Ghosh

 

27000

Mr. K G Kumar

 

25000

Mr. Pawan Kumar Sharma

 

32000

Pawan Kumar Sharma (HUF)

 

10000

Mr. Ratanlal Kumar Goswami (HUF)

 

10000

Mr. Prakash Kumar Goswami

 

23000

Sajan Kumar Goswami (HUF)

 

10000

Mr. Ratanlala Goswami

 

16000

Mr. Sajjan Kumar Goswami

 

16000

Divyam Domestic Care

 

37500

S S Tracon Limited

 

25000

Kamlesh Trade and Agency

 

32000

Mr. Raj Kumar Choudhary

 

13000

Mrs. Meena Agarwal

 

5000

Mr. Raj Kumar Gupta

 

5000

Mr. Sajjan Kumar Gupta

 

2500

Mrs. Sarika Agarwal

 

7000

Mrs. Seema Kedia

 

9000

Mrs. Suman Kedia

 

9000

Rimmi Enterprises

 

32500

Mrs. Kusum Sharma

 

22500

Mr. Shankarlal Agarwal

 

32100

Mr. Sekhar Agarwal

 

25000

 

Equity Share Break Up As On 29.09.2007

Particulars

Percentage

Bodies Corporate

32.00

Directors or Relatives of Directors

11.00

Other Top 50 Share Holders

57.00

 

 

Total:

100.00

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Road Roller, Tower Crane, Hydraulic Tapper, etc. 

 

 

Products :

Road Roller – 843149.00

Tower Crane – 842620.00

Hydraulic Tapper – 842450.02

 

 

Exports :

 

Countries :

Bangladesh, Nepal, Bhutan

 

 

Imports :

 

Countries :

China and USA

 

 

Terms :

 

Selling :

Credit

 

 

Purchasing :

Credit (60 days)

 

 

 

GENERAL INFORMATION

 

Customers :

  • Manufacturers
  • Government Bodies

 

 

Bankers :

  • United Bank of India, 2, NC Dutta sarani, Kolakata-700001, West Bengal, India
  • Bank of Rajasthan Limited, Strand Road Branch, Kolkata-700001, West Bengal, India

 

 

 

Banking Relations :

Satisfactory

 

 

Auditors :

 

Name :

Sunil  Manpuria and Associates

(Chartered Accountant)

Address :

11 Pollock Street, 1st Floor, Kolkata-700001, West Bengal, India

 

 

Affiliates :

  • Calcutta Forgings and Steel Industries Private Limited
  • J P Alloys and Steel Private Limited
  • United Steel Corporation

 

 

Associates/Subsidiaries :

Calcutta Forgoing and Steel Industries Limited

 

 

 

 

 

CAPITAL STRUCTURE

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1000000

Equity Shares

Rs. 10/-

Rs. 10.000 millions

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

969500

Equity Shares

Rs. 10/-

Rs. 9.695 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

9.695

9.695

9.695

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

2.105

5.145

5.426

4] (Accumulated Losses)

0.000

(1.054)

(3.459)

NETWORTH

11.800

13.786

11.662

LOAN FUNDS

 

 

 

1] Secured Loans

3.910

1.038

5.740

2] Unsecured Loans

6.434

0.000

0.276

TOTAL BORROWING

10.344

1.038

6.016

DEFERRED TAX LIABILITIES

0.261

0.635

0.728

 

 

 

 

TOTAL

22.405

15.459

18.406

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

7.083

10.297

11.253

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

0.500

0.500

0.500

DEFERREX TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories

23.171

13.808

8.942

 

Sundry Debtors

14.266

10.359

12.539

 

Cash & Bank Balances

3.940

2.949

2.744

 

Other Current Assets

0.000

0.000

0.000

 

Loans & Advances

5.311

1.860

2.897

Total Current Assets

46.688

28.976

27.122

Less : CURRENT LIABILITIES & PROVISIONS

 

 

 

 

Current Liabilities

29.640

22.763

20.019

 

Provisions

2.226

1.551

0.450

Total Current Liabilities

31.866

24.314

20.469

Net Current Assets

14.822

4.662

6.653

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

22.405

15.459

18.406

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2007

31.03.2006

31.03.2005

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

3.60

25.03

4.40

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.46

1.19

1.32

 

 

LOCAL AGENCY FURTHER INFORMATION

 

 

Parameters

Details

Existence Verification:

 

Name

JAYPEE ENGINEERING AND HYDRAULIC EQUIPMENT COMPANY LIMITED

Phone/ Mob No.

91-33-24905332

Statutory Approvals:

 

Legal Status of Firm

Private Limited Company

Income Tax Registration

AACJ6628E

Central Sales Tax Registration

19490408172

VAT/TIN Registration

19490408075

Import Export Code

0297023977

 

Form NO.8:

This form is for

Modification of charge

Charge identification number of the modified 

90246959

Corporate identity number of the company

U27104WB1995PTC071783

Name of the company

JAYPEE ENGINEERING AND HYDRAULIC EQUIPMENT COMPANY LIMITED

Address of the registered office or of the principal place of  business in India of the company

24 Strand Road, Ground Floor, Kolkata-700001, West Bengal, India

Type of charge

 Book Debts

Movable Property (not being pledge)

Others

Particular of charge holder

Bank of Rajasthan Limited, Strand Road Branch, 25, Strand Road, Kolkata-700001, West Bengal, India

Nature of description of the instrument creating or modifying the charge

Hypothecation of Goods to secure a demand cash credit

Charge and hypothecation of Book Debts

General Letter of Hypothecation for Inland/ Foreign Bills purchased

Agreement Of Hypothecation of Machinery and goods.

Date of instrument Creating the charge

31.03.2007

Amount secured by the charge

Rs.13.000 millions

Brief particulars of the principal terms an conditions and extent and operation of the charge

Rate of Interest:

Interest shall be charged at such rate or rates as may be decided by bank from time to time subject to minimum of 1% above BPLR, presently 15% p.a. with monthly rests.

 

Terms of Repayment:

Repayable on demand

 

Margin:

Margin shall be 40% on stocks or such as may be decided by bank from time to time.

 

Extent and operation of the charge:

The charge shall operate as first charge in favour of bank

Short particulars of the property charged

All present and future:

Whole of products, stocks in trade, and goods etc at godowns or anywhere else including on high sea

Book Debts, outstanding Moneys, bills, etc

Inland and Foreign bills purchased by Bank

Goods procured out of L/C opened by the bank

Plant and Machineries and Fixed Assets

Date of latest modification prior to the present modification

30.06.2004

Particulars of the present modification 

By this modification :

The limit is raised from Rs.6.000 millions to Rs.13.000 millions as follows:

Cash Credit’s. Rs.5.000 millions, Letter of Guarantee: Rs. 5.000 Millions, LC import/ Inland (DP) Rs. 3.000 millions

Other terms and conditions remain unchanged

Overall limit is Rs. 13.000 millions

 

Bankers Charges Report as per Registry

 

 

Name of the company

JAYPEE ENGINEERING AND HYDRAULIC EQUIPMENT COMPANY LIMITED

Presented By

Mr. Shekhar Agarwal- Director

1) Date and description of instrument creating the change

Date :02.01.2004

Oral Assent to create equitable mortgage

Draft letter of continuity

 

Date :20.11.2000

Oral Assent to create equitable mortgage

Consent letter in Annexure I

2) Amount secured by the charge/amount owing on the securities of charge

Rs.7.000 millions

In respect of united steel corporation is Rs. 5.000 millions

In respect of Calcutta for ging and steel industries private limited is Rs 2.000 millions

Total- Rs. 7.000 millions

 

Rs. 4.000 millions

United Steel Corporation Rs. 2.000 millions

Calcutta Forging and Steel Industries is Rs. 2.000 millions

Total: Rs. 4.000 millions

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

Equitable mortgage by way of deposit of title deeds in respect of property bearing DAG no. 221, under Khatian No. 198, J.L 11 of Mouza Sampa, Mirza Nagar Anil Nagar, P.O and P.S, Maheshtala , district South 24 PGS. Being the 2 nd portion of factory measuring area of Rs. 8.73 Cottahs.

4) Gist of the terms and conditions and extent and operation of the charge.

The charge has been created to secure the limits sanctioned by bank to following parties in respect of which the company also stands as guarantor.

 

United Rs. 5.000 millions steel corporation

Calcutta Rs. 2.000 millions forging and steel industries private limited

Total: 7.000 millions

 

The bank shall be entitled to charge interest @0.00% over BPLR subject to minimum of 11.75% p.a. with qly. Rests or such other rate or rates as may be decided by bank from time to time.

 

The charge has been created to secure the limits sanctioned by bank to following parties in respect of which the company also stands as guarantor.

 

United steel corporation Calcutta forging Rs. 2.000 millions and steel industries private limited

Total: 4.000 millions

 

5) Name and Address and description of the person entitled to the charge.

The Bank of Rajasthan Limited, Strand Road Branch, 25, Strand Road , Kolkata-700001, west Bengal ,India

6) Date  and brief description of instrument modifying the charge

Date 02.01.2004

Oral assent equitable mortgage

Draft letter of continuity

7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.

United steel corporation Rs. 2.000 millions

Calcutta forgings and steel industrial limited Rs. 2.000 millions

Total: 7.000 millions

 

 

Profile

 

Cost efficiency and timely deliveries have earned us a loyal client base in the domestic as well as international market. The principal aim is to comprehend the changing needs of industries and come out with innovative products to meet the exacting requirements of clients.

 

Products

 

 1. Hydraulic Cranes
 2. Hydraulic Scissor Lift
 3. Hydraulic Truck Unloader
 4. Hydraulic Grabs
 5. Hydraulic Road Roller
 6. Hydraulic Mobile & Stationary Cranes
 7. Hydraulic Scissors Lift Platform
 8. Hydraulic Clam Shell Grabs
 9. Hydraulic Mobile Scrappers
10. Hydraulic Electrode Handling Device
11. Hydraulic Log / Bamboo Handler
12. Hydraulic Self-propelled Multi Loader
13. Custom built Hydraulic Equipment
14. Power Packs

 

Hydraulic Cranes

 

Salient Features :

 

 

 

 

 

 

Safety Features :

 

 

 

Model

Maximum Moment Kg. M.

Maximum horizontal out reach
M

STD. basic crane Weight Kg.

Slewing range Deg.

Working pressure Bar

Crane height in contracted position from top of chassis mm.

Recommended GVW for mounting vehicle Tonne9

JPC 6

6000

5.1

1450

380

200

2240

 

JPC 9L

9000

6

2100

380

200

1900

16

JPC 14

14000

6.36

2360

380

200

2350

16

JPC 16

16000

9.01

2490

380

230

2405

16

JPC 19

19000

10.84

3000

380

270

2241

24

JPC 25

25400

10.84

3100

380

270

2241

24

JPC 35

35000

11.13

3950

380

270

2308

24

JPC 45

45000

11.02

4500

380

270

2314

24

 

 

Hydraulic Scissor Lift

 

JEHEL SCISSOR LIFT PLATFORMS provide an effective and safe solution for erection and maintenance jobs at elevated levels.


These Platforms find extensive uses in Hydro-electric Power Projects, Thermal Power Stations, Metal Extraction Industries, Airports, Docks, Ports and other Process Industries.


These Platforms are available in both STATIONARY and MOBILE versions. The MOBILE versions can be mounted on TRUCKS as well as TROLLEYS.

The Power Packs of these Platforms are adaptable to both Electric Motor and Diesel Engine drives. For Truck mounted versions, the drive can be taken from "Power Take-off" Units mounted on the Gear Box of the Truck.

JEHEL Scissors Lift Platforms are provided with 4 (four) nos. STABILIZERS (OUTRIGGERS) as a standard feature to provide complete safety to users. The raising of the Platform is safety-interlocked with Stabilizers to prevent raising the platform before stabilizers are fully deployed. The stabilizers cannot be retracted, unless the platform is fully lowered.


Dual control on the platform and at the ground level and Manual Operation in case of motive power failure are also offered as standard features.

 

TECHNICAL SPECIFICATIONS

PARAMETER

UNIT

MAX

MIN

LIFT from Ground Level (G.L.)

Metre

12

2

CLOSED HEIGHT from (G.L.)

Metre

2.1

0.7

Safe Load on Platform at full lift

Kg

2000

200

PLATFORM SIZE

 

 

 

Length

Metre

5.00

0.70

Width

Metre

3.00

0.40

STAGES

No.

5

1

CONTROL = Dual (at ground control/ truck chassis and on platform)

PRIME MOVER = Electric Motor / I.C. Engine/ Power Take-off Unit of Truck

 

 

Hydraulic Truck Unloader 

 

It having unloading capacity of 30 Ton to 100 Ton including weight of Truck. The angle of tilt is 55 (which is sufficient for unloading most of bulk material). The frame is steel fabricated with anti-skid steel chequered plate welded on top of the frame, tilting arrangement is powered by 2 heavy duty Hydraulic Cylinders. The retractable back stoppers and hooking arrangement for safety of operation is actuated by Hydraulic Cylinders having Hydro-Electric interlocking system. The Hydraulic Power Pack is most optimally designed, fitted with internationally reputed hydraulic and electrical components.

 

 

TECHNICAL DETAILS

Model 40 Ton

Model 50 Ton

Model 60 Ton

Platform Size (mm)

8480 x 3200

8480 x 3200

8550 x 3200

Tilting Angle

55 Deg.

55o

55 Deg.

Pump Capacity

43 Lpm

43 lpm

54 Lpm

Tank Capacity

100 Litres

200 Litres

200 Litres

Motor KW, RPM

15 KW, 1440 RPM

18.5 KW, 1440 RPM

22 KW, 1440 RPM

Operating Pressure

150 Bar

120 BAR

120 BAR

Hydraulic Oil

Servo-68/Hydral-68

Servo-68/Hydral-68

Servo-68/Hydral-68

Oil Cooler

400 x 1020

400 x 1020

400 x 1020

 

1) The system with 60o tilt angle for extra sticky material is available on request.


2)    Lower and higher capacities are available also on request.

 

 

Hydraulic Grabs

 

JEHEL Hydraulic Grabs can be mounted either on EOT Cranes or on Hydraulic Mobile/Stationary Crane. JEHEL Hydraulic Grabs reduce maintenance, power consumption, downtime and operational time. The whole system is very compact and light and user's friendly.

 

Hydraulic Road Roller


The VIBROLL 'JPR 120 H' is an all purpose compactor offering an ideal combination of compact size dead weight and maneuverability. 'VIBROLL JPR 120H' is clear sided and the two box design with hydraulic articulation provides excellent traction & steering. The C.G. prevents accidental damages. The operator is seated comfortably at level from which he has clear view of all sides.

 

APPLICATION

Wearing Course

Surface Course

Binder Course

Base Course

Sub Base Course

Filter Course

Sub Grade

Factories

Housing Colonies

CANALS / DAMS

Trench Reinstatement

Widening of the Road

 

 

Clients


The list of customers include reputed Sugar, Cement, Glass Factories, Paper Mills, who are engaged in handling non-sticky bulk material and various Construction companies, Municipalities, Notified Area Authorities, who are engaged in road construction and material handling. Client list includes:-

 

 

Quality

The organizational strength methodology is perfectly matched and interwoven with quality control at every stage. They have standard Quality Control Equipment at our factories, however, chemical tests, radiographic tests and ultrasonic tests, as and when required, are done from reputed external organization Quality Control and inspection is carried out at the time of purchase of raw materials and is a continuous process until the product is finally despatched. This is also controlled and monitored as per ISO 9001 - 2000.


Facilities


The AutoCAD facilities manned by qualified and experienced Engineer. Almost all designs presently are done in Auto CAD 2000. They have a stable and adequate financial base. Raw material is conveniently available to us through our parent company dealing in special steels, Steel Forgings and Rolling Mill.

 

Networking

 

They have very well qualified and effective Top, Middle and Junior Management personnel infrastructural facilities, total covered area 20,000 sq.ft. These are located within easy reach of Sales and Registered Offices. They have adequate information network to co-ordinate between Factories, Sales Office and Registered Office to attend emergency situations promptly.

 

 

 

 

 

 

 


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.41.96

UK Pound

1

Rs.83.78

Euro

1

Rs.65.82

 

 

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

6

--PROFITABILIRY

1~10

4

--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

 

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, we have no basis upon which to recommend credit dealings

No Rating

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions