MIRA
INFORM REPORT
|
Report Date : |
25.06.2008 |
IDENTIFICATION
DETAILS
|
Name : |
MEI POWER PRIVATE LIMITED |
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Formerly Known As : |
THE MARSON’S ELECTRICAL INDUSTRIES PRIVATE LIMITED |
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Registered Office : |
11th Floor, Room No. 36, 23 A, Netaji Subhash Road, Kolkata
– 700001, West Bengal |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
05.01.1984 |
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Com. Reg. No.: |
21 - 37064 |
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CIN No.: [Company
Identification No.] |
U31102WB1984PTC037064 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CALT00780D |
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PAN No.: [Permanent
Account No.] |
AABCT1567H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers, Exporters and Importers of Transformers and Components,
Wind Power Generation. |
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 312670 |
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Status : |
Good |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Mr. Ajay Samvedi, Accountant confirmed the details. Subject is a well-established company having satisfactory track. Trade relations are fair. Financial position of the company is
satisfactory. Payments are usually correct and as per commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Ajay Samvedi |
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Designation : |
Accountant |
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Date : |
24.06.2008 |
LOCATIONS
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Registered Office : |
11th Floor, Room No. 36, 23 A, Netaji Subhash Road, Kolkata
– 700001, West Bengal, India |
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Tel. No.: |
91-33-22301968 / 40050326 |
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Fax No.: |
91-33-40050326 |
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E-Mail : |
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Website : |
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Area : |
270 Sq. ft |
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Location : |
Rented |
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Factory : |
Artoni, Mathura Road, Agra – 282 002, Uttar Pradesh, India |
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Tel. No.: |
91-562-2642327/ 2642328/2641448/ 2640144 |
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Mobile No.: |
91-9837021142 |
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Fax No.: |
91-562-2641435 |
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City Office : |
1/189, Delhi Gate, Civil Lines, Agra – 282 002, India |
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Tel. No.: |
91-562-2520027/ 2850812 |
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Fax No.: |
91-562-2851306 |
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Sales Office : |
Located at: Calcutta Tel No.: 91-33-2201968 Lucknow Tel No.: 91-522-321495 Delhi Tel No.: 91-11-29219745 Jaipur Tel No.: 91-141-3235253 |
DIRECTORS
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Name : |
Mr. Malook Chand Jain |
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Designation : |
Chairman Cum Managing Director |
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Address : |
17, Mayfair Road, Kolkata – 700019, West Bengal, India |
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Date of Birth/Age : |
27.11.1929 |
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Date of Ceasing : |
19.06.2004 |
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Name : |
Mr. Bimlesh Kumar Jain |
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Designation : |
Director |
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Address : |
1/189, Delhi Gate, Civil Lines, Agra – 282 002, Uttar Pradesh, India |
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Date of Birth/Age : |
17.01.1953 |
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Qualification : |
B.com |
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Date of Appointment : |
05.01.1984 |
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Name : |
Mr. Pawan Kumar Jain |
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Designation : |
Director |
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Address : |
1/189, Delhi Gate, Civil Lines, Agra – 282 002, Uttar Pradesh, India |
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Date of Birth/Age : |
04.07.1958 |
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Date of Appointment : |
29.03.1985 |
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Date of Ceasing : |
19.06.2004 |
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Name : |
Mr. Nirmal Kumar Jain |
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Designation : |
Wholetime Director |
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Address : |
1/189, Delhi Gate, Civil Lines, Agra – 282 002, Uttar Pradesh, India |
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Date of Birth/Age : |
21.08.1954 |
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Date of Appointment : |
01.07.1987 |
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Name : |
Mrs. Neetu Jain |
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Designation : |
Wholetime Director |
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Address : |
1/189, Delhi Gate, Civil Lines, Agra – 282 002, Uttar Pradesh, India |
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Date of Birth/Age : |
17.01.1978 |
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Date of Appointment : |
25.07.2001 |
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Name : |
Mr. Nitin Jain |
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Designation : |
Wholetime Director |
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Address : |
1/189, Delhi Gate, Civil Lines, Agra – 282 002, Uttar Pradesh, India |
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Date of Birth/Age : |
02.08.1980 |
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Date of Appointment : |
25.07.2001 |
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Name : |
Mr. Swaroop Chand Jain |
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Designation : |
Director |
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Address : |
1/189, Delhi Gate, Civil Lines, Agra – 282 002, Uttar Pradesh, India |
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Date of Birth/Age : |
19.08.1927 |
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Date of Appointment : |
15.02.2000 |
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Name : |
Mr. Deepak Jain |
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Designation : |
Wholetime Director |
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Address : |
1/189, Delhi Gate, Civil Lines, Agra – 282 002, Uttar Pradesh, India |
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Date of Birth/Age : |
23.09.1973 |
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Date of Appointment : |
27.10.1999 |
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Date of Resignation : |
31.12.2007 |
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Name : |
Mr. Rahul Jain |
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Designation : |
Director |
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Address : |
1/189, Delhi Gate, Civil Lines, Agra – 282 002, Uttar Pradesh, India |
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Date of Birth/Age : |
13.07.1974 |
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Date of Appointment : |
30.12.1999 |
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Date of Resignation : |
31.12.2007 |
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jName : |
Mr. Ratan Kumar Jain |
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Designation : |
Director |
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Address : |
1/189, Delhi Gate, Civil Lines, Agra – 282 002, Uttar Pradesh, India |
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Date of Birth/Age : |
11.05.1956 |
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Date of Appointment : |
15.02.2000 |
KEY EXECUTIVES
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Name : |
Ms. Anju Jain |
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Designation : |
Company Secretary |
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Address : |
B – 623, Kamla Nagar, Agra – 282 004, Uttar Pradesh, India |
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Tel No.: |
91-562-2880341 / 2331618 |
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Mobile No.: |
91-9897602111 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 31.03.2007
|
Names of Shareholders |
No. of Shares |
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Mr. Bimlesh Kumar Jain |
411766 |
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Mr. Nirmal Kumar Jain |
88400 |
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Mrs. Usha Jain |
23134 |
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Mr. Nitin jain |
162600 |
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Mrs. Neetu Jain |
21668 |
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Mr. Swaroop Chand jain |
84100 |
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Mr. Ratan Kumar Jain |
2334 |
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Mr. Gaurav Jain |
7998 |
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Total |
802000 |
Equity share breakup (Percentage of Total Equity)
As on 31.03.2007
|
Sr. No. |
Category |
Percentage |
|
1. |
Directors or relatives of directors |
100.00 |
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|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers, Exporters and Importers of Transformers and Components,
Wind Power Generation. |
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Exports : |
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Countries : |
v US v African
Countries v European
Countries v Asian Countries |
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Imports : |
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Countries : |
v Europe v Japan v Korea v UK v USA |
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Terms : |
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Selling : |
L/C |
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Purchasing : |
Credit ( 30 days) |
GENERAL
INFORMATION
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Suppliers : |
v Hindustan Copper Limited v Hondai, Japan v Mutsubishi, Japan v National Aluminium Company Limited v Overseas Development Corporation, UK v Steel Authority of India Limited v Taerni Spa, Italy |
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Customers : |
v Wholesalers v Government Bodies v Coal India Limited v Delhi Electric Supply Administration v Rajasthan State Electricity Board v U P State Electricity Board v Haryana State
Electricity Board v GRID Corporation
of Orissa Limited International
Customers v P J Allen Export
Services – UK v Power Generation
Industries – UK v Federal Ministry
of Power and Steel - Nigeria, Africa v National
Electric Power Authority – Nigeria, Africa v PEC – Yemen v Pedeee - Syria |
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No. of Employees : |
+ 100 |
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Bankers : |
v United Bank of
India Free Ganj Branch, Kolkata v ICICI Bank
Limited |
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Facilities : |
CC – Rs. 250.000 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Prem Pradeep and Company Chartered Accountants |
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Address : |
Friends Wasan Plaza, Sanjay Place, Agra – 282 002, Uttar Pradesh,
India |
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Tel. No.: |
91-562-2525540 |
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Mobile No.: |
91-9359932092 |
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Parent Company: |
A Marson’s Group Company |
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Affiliates : |
v A P Electricals Private Limited v Banmore Electricals Private Limited v Kotsons Electricals Private Limited v Marson’s Finance Limited v Marson’s Limited v Marson’s Textiles Limited v Venus Construction s Private Limited v Western Transformers & Equipments Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5,000,000 |
Equity shares |
Rs. 10/- each |
Rs. 50.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
802,000 |
Equity shares |
Rs. 10/- each |
Rs. 8.020
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
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 |
8.020 |
8.020 |
8.020 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
54.514 |
38.327 |
38.927 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
62.534 |
46.347 |
46.947 |
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LOAN FUNDS |
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1] Secured Loans |
42.665 |
50.255 |
61.199 |
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2] Unsecured Loans |
5.150 |
12.800 |
10.800 |
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TOTAL BORROWING |
47.815 |
63.055 |
71.999 |
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DEFERRED TAX LIABILITIES |
5.663 |
5.790 |
0.000 |
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TOTAL |
116.012 |
115.192 |
118.946 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
36.871 |
37.986 |
35.864 |
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Capital work-in-progress |
0.356 |
0.000 |
0.000 |
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INVESTMENT |
0.008 |
0.008 |
0.008 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
22.543
|
54.492 |
61.274 |
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Sundry Debtors |
176.226
|
87.536 |
101.584 |
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Cash & Bank Balances |
45.050
|
19.713 |
25.271 |
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Other Current Assets |
0.136
|
0.104 |
0.116 |
|
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Loans & Advances |
28.896
|
31.196 |
3.476 |
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Total
Current Assets |
272.851
|
193.041 |
191.721 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
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Current Liabilities |
191.344
|
115.650 |
108.433 |
|
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Provisions |
2.730
|
0.193 |
0.214 |
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Total
Current Liabilities |
194.074
|
115.843 |
108.647 |
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Net Current Assets |
78.777
|
77.198 |
83.074 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
116.012 |
115.192 |
118.946 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
|
|
Sales Turnover (Including Other Income) |
|
1075.902 |
473.869 |
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Total Income |
|
1075.902 |
473.869 |
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Profit/(Loss) Before Tax |
|
32.407 |
8.827 |
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Provision for Taxation |
|
11.397 |
3.418 |
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Profit/(Loss) After Tax |
|
21.015 |
5.409 |
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Earnings in Foreign Currency : |
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FOB Export Earnings |
|
163.563 |
183.740 |
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Total Earnings |
|
163.563 |
183.740 |
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Imports : |
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Raw Materials |
|
150.515 |
77.853 |
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Total Imports |
|
150.515 |
77.853 |
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Expenditures : |
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Depreciation & Amortization |
|
2.695 |
2.569 |
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Other Expenditure |
|
1040.800 |
462.473 |
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Total Expenditure |
|
1043.495 |
465.042 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
1.95
|
1.14 |
-- |
|
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Net Profit Margin (PBT/Sales) |
(%) |
3.01
|
1.86 |
-- |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.01
|
1.86 |
-- |
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Return on Investment (ROI) (PBT/Networth) |
|
0.52
|
0.19 |
-- |
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Debt Equity Ratio (Total Liability/Networth) |
|
3.10
|
2.50 |
2.31 |
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Current Ratio (Current Asset/Current Liability) |
|
1.41
|
1.67 |
1.76 |
LOCAL AGENCY
FURTHER INFORMATION
Note:
The Subject Company was originally incorporated on 05.01.1984 as “The
Marson’s Electrical Industries Private Limited” and changed to MEI Power Private
Limited” w.e.f. 08.01.2008 as per records as per registry records vide SRN No.
A28264232
Trade References
v State Electric Board
v West Bengal State Electric Transmission Limited
v Ajmer Vidhut Vittarah Limited
Form 8
|
Name of the company |
THE MARSON’S ELECTRICAL INDUSTRIES PRIVATE LIMITED |
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Presented
By |
Director |
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1) Date and description of instrument creating the change |
23.07.1985 Hypothecation of
goods deed. Hypothecation of
debts movable assets. Hypothecation of
Plant and Machinery Mortgage deed of
land and building. Subsequently,
modified on 15.04.1987, 03.06.1989, 25.01.1990, 03.03.1992, 22.02.1994,
20.04.1995, 01.01.1997 and 23.11.1998. |
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2) Amount secured by the charge/amount owing on the securities of charge |
15% of Rs. 24.144
millions i.e. Rs. 3.621 millions as per share in partnership of M/s Marson’s
Electrical Industries (Certified copy of Partnership deed enclosed)
subsequently its limit increased / decreased to Rs. 37.850 millions Rs. 45.783
millions Rs. 70.783
millions Rs. 81.772
millions Rs. 99.137
millions Rs. 172.822
millions Rs. 166.934
millions Rs. 182.876
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 |
1. That the whole
of the borrower’s stock consisting of stocks, raw materials, goods in
process, finished and semi-finished goods for manufacturing of power and
distribution transformer whether raw of in process of manufacture and all
products, goods and movable property of any kind which now or hereafter from
time to time during this security shall be brought into stored or be in or
about the borrower’s premises or godowns at Marson’s Electrical Industries,
Artoni, Agra. 2. That all the borrower’s
present and future book debts outstandings moneys receivable claims bills
contract engagements securities rights and movable assets shall be
hypothecated to the bank. 3. The Borrower
hereby hypothecated by way of first charge in favour of the Bank and its
assigns all plant and machinery, engines, bollers, appliances, tools and
equipments etc. 4. Mortgage of
title deeds of 3 bigha, 15 Biswa, 17 Biswan of Marson’s Electrical Industries
with factory building as per deed of mortgage. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Interest 7.5%
p.a. above the Reserve Bank of India, rate for demand loans from time to time
with a minimum rate 17.5% p.a. Subsequently rate
of interest modified to 6.5%, 7.5%, 10%, 7%, 4.75%, 8%, and 9.36%p.a. above
the Reserve Bank of India rate for demand loans from time to time with a
minimum rate of 16.5%, 17.5%, 22%, 19%, 16.75%, 20%, and 18.36% p.a.
respectively. |
|
5) Name and Address and description of the person entitled to the charge. |
United Bank of
India Main Branch,
Freegani, Agra – 282 004, Uttar Pradesh, India |
|
6) Date and brief description of instrument modifying the charge |
05.03.2002 Hypothecation of
goods deed Hypothecation of
debts and movable assets. Hypothecation of
Plant and Machinery. Mortgage deed of
land and buildings for Rs. 110.559 millions. |
|
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. |
The charge is
modified in respect of amount i.e. from Rs. 1828.760 millions to Rs. 1105.590
millions and interest rate from 9.36% p.a. above the Reserve Bank of India
rate for demand loans from time to time with a minimum rate 18.36% p.a. to 9%
p.a. above the Reserve Bank of India rate for demand loan from time to time
with a minimum rate 15.50% p.a. |
Form 8
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified
|
90253229 |
|
Corporate
identity number of the company |
U31102WB1984PTC037064 |
|
Name of the
company |
THE MARSON’S ELECTRICAL INDUSTRIES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
11th Floor, Room No. 36, 23 A, Netaji Subhash Road, Kolkata
– 700001, West Bengal |
|
Type of charge |
v
Immovable
property v
Others v
Hypothecation
of Stock, Book Debts and Plant and Machinery. |
|
Particular of
charge holder |
Name : United
Bank of India Address: Main
Branch, Freeganj City : Agra State : Uttar
Pradesh ISO country code:
IN Pin code: 282004 E-mail ID: bmagr@unitedbank.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
Hypothecation of
Goods Hypothecation of
Debts and movable assets Hypothecation of
Plant and Machinery Mortgage deed of
land and building for Rs. 268.644 millions |
|
Date of
instrument Creating the charge |
17.01.2007 |
|
Amount secured by
the charge |
Rs. 268.644
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit
11.75% p.a. (BPLR) PC and FBP The
administrated Rate as per HO/RBI Guidelines Working Capital
Term Loan (I) – 11.75% p.a. (BPLR) Working Capital
Term Loan (II) – 9.50% p.a. (BPLR) Terms of
Repayment Working Capital
Term Loan (I) – 13 Quarterly instalments (last instalment due on 15.01.2010). Working Capital
TermLoan (II) – 9 Quarterly instalments (last instalment due on 15.01.2009) Margin Stock / Book
Debts (For CC) 25% Bills 25%, PC 25%. FBP 0%, LC/LG
10%, Disputed LG 100% Extent and
Operation of the charge Overall limits
Rs. 268.644 millions
(i) Khasara Plot No. 151 and 152, Land 3 Bighas, 15 Biswas, 17 Biswan
bounded by on North Khasara No. 146 and 150 on south Mathura Road on East
Khasara No. 153 and portion of 152/2 onm West Kacha Rasta. (ii) Khasara Plot No. 149/3 and 150, land 2 Bighas 4 Biswa. iii) Khasara No. 146 B, Land 1 Bigha 10 Biswa registered on 24.07.2001
at 3215 pages 189 to 210. 2. Plant and Machinery, movable assets. |
|
Short particulars
of the property charged |
Property at Village Artoni, Mathura Road, Agra – 282007 (i) Khasara Plot No. 151 and 152, Land 3 Bighas, 15 Biswas, 17 Biswan
bounded by on North Khasara No. 146 and 150 on south Mathura Road on East
Khasara No. 153 and portion of 152/2 onm West Kacha Rasta. (ii) Khasara Plot No. 149/3 and 150, land 2 Bighas 4 Biswa. iii) Khasara No. 146 B, Land 1 Bigha 10 Biswa registered on 24.07.2001
at 3215 pages 189 to 210. |
|
Date of latest
modification prior to the present modification |
18.02.2006 |
|
Particulars of
the present modification |
This charge is modified
in respect of amount i.e. from Rs. 2336.100 millions to Rs. 2686.440 millions
and interest rate from 4.75% p.a. above the Reserve Bank of India rate for
demand loans with a minimum rate 10.75% p.a. to 5.75% p.a. above the Reserve
Bank of India rate for demand loan with a minimum rate 11.75% p.a. The
overall limit is Rs. 2886.440 millions. |
Indian Government
owned State Electricity Board/Undertakings:-
v
West Bengal
State Electricity Board.
v
Uttar Pradesh
State Electricity Board.
v
Rajasthan State
Electricity Board.
v
Madhya Pradesh
Electricity Board.
v
Delhi Vidyut
Board.
v
Haryana State
Electricity Board.
v
Punjab State
Electricity Board.
v
Directorate
General of Supplies & Disposals, New Delhi.
v
National
Thermal Power Corporation.
v
GRID
Corporation of Orissa Ltd (GRIDCO)
v
North -East
Frontier Railway.
v
Govt. of
Manipur.
v
Uttar Pradesh
State Electricity Board (Design Circle)
v
NEEPCO,
Shillong.
v
Air Force Naval
Housing, New Delhi.
v
Garrison
Engineer Military Engineering Service, Agra.
v
National
Thermal Power Corporation Ltd, Agra - Through M/s Allied Engineers, Agra.
v
Public Works
Department, Agra.
v
Yamuna Hydel
Circle, Dehradun.
v
New Okhla
Industrial Developement Authority (NOIDA), Ghaziabad.
v
Firoz Gandhi
Unchhahar Thermal Project, Rae Bareilly.
Private
Organizations:-
v Chemical & engineering Plants.
v
Steel Industries.
v
Paper & Sugar Mills.
v
Textile Industries.
v
Hotels & Hospitals.
v
Cold Storages and others.
World Bank Financed
Projects
As Per Website Details
Established in the year
1973 subject is one of the leading manufacturers of Power & Distribution It
has today grown to a workmen strength of about 400 with a sales turnover of
over Ind. Rs.500.00 Million.
Developing its own
engineering strength, Marsons now has a design and manufacturing capacity upto
16 MVA Power and Distribution in 33 KV class. Marsons' dedication to quality,
timely project execution and services have helped the client base which
includes almost all the 'State Electricity Boards' in India and making International
utilities.
Company's
annual production capacity can be put to an aggregate figure of 900000 KVA per annum, which
Some distinctions
earned by the Company over the years are as under:-
Achived ISO-9001 Quality System
Certification from DNV, on 8.10.97 for Design, Development,
Manufacturing and Servicing of Power & Distribution Transformers.
Won the National productivity
Award in the year 1996 by National Productivity Council, Govt. of
India, Ministry of Industry, New Delhi.
Executed prestigious World Bank
(IBRD) financed projects for Transformers, us$15 million against
International bidding.
Type Tested - Entire
range of Transformers has been type tested (Design validation tests) at Central
Power Institute - A Premier Power Research Institute in India.
Large export experience in the middle-east and Africa.
Completely integrated in-house manufacturing and
Testing facilities.
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. 42.82 |
|
UK Pound |
1 |
Rs. 84.27 |
|
Euro |
1 |
Rs. 66.62 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, they have no basis upon which to
recommend credit dealings |
No Rating |
|