MIRA
INFORM REPORT
|
Report Date : |
05.03.2008 |
IDENTIFICATION
DETAILS
|
Name : |
ANABOND LIMITED |
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Formerly Known As : |
ANABOND PRIAVTE
LIMITED |
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Registered Office : |
R.S.No.26/2, CAD No.82,
Thirubuvanai Village, Mannadipet Commune, Pondicherry – 605 012 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
29.02.1984 |
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Com. Reg. No.: |
59-249 |
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CIN No.: [Company
Identification No.] |
U99999PY1984PTC000249 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEA00689D |
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PAN No.: [Permanent
Account No.] |
AACCA4158Q |
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Legal Form : |
A Closely Held
Public Limited Liability Company. |
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Line of Business : |
Manufacturer of
Adhesives and Sealants (Liquid Form), Lubricants, and Adhesives and Sealants
(Paste Form) |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Maximum Credit Limit : |
USD 961432 |
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Status : |
Good |
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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 fine track. Directors are reported as experienced,
respectable and resourceful intermediates. Their trade relations are fair.
Financial position is good. Payments are usually correct and as per
commitments. The company can
be considered good for any normal business dealings at usual trade terms and
conditions. |
LOCATIONS
|
Registered Office : |
R.S.No.26/2, CAD
No.82, Thirubuvanai Village, Mannadipet Commune, Pondicherry-605 012, India |
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Tel. No.: |
91-413-2640869/
808/ 868 |
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E-Mail : |
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Website : |
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Corporate Office 1 : |
No. 15, 2nd
Cross Street, Indiara Nagar, Adyar, Chennai – 600 020, Tamilnadu, India |
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Tel No.: |
91-44-23460041 /
42 / 43 |
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Fax No.: |
91-44-23460048 |
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E-Mail: |
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Corporate
Office 2 : |
Old No.55, New. No.38, Kamaraj Avenue, Teachers Colony,
Adyar, Chennai- 600 020. |
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Plants: |
Type 2, 36 , VST
Campus, Chennai – 600 041, Tamilnadu Research and Development Centre: 86, Perungudi, Chennai
– 600 096, Tamilnadu, Chennai – 600 096 Tel No.: 91 – 44-
23460064 / 65 Fax No.: 91 –
44-42152145 RS 28/2, CAD 82,
Thirubhuvani Village, Manadipet Commune, Pondicherry – 605 107 Tel No.
91-413-2640868/2640304/2649394 Fax No.
91-413-2640808/2640775 Email : anapropdy@sify.com
Village Baridua,
P. O. Amerigong, G. S. Road, 9th Mile, Dist. Bhoi, Meghalaya No.102, Illalur Village, Chengalpet Taluka, Kanchipuram
District, Tamilnadu - 603 110 Fax No.: 91-4114 -27478784 |
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Zonal Office: |
311, J. K.
Chambers, Sector 17, Vashi, Navi Mumbai – 400 705, Maharashtra |
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Tel. No.: |
91-22-2789
3500/2789 2711 |
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Fax No.: |
91-22-2789 2696 |
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Marketing -
Head Office : |
No.15, 2nd Cross Street, Indira Nagar, Adyar,
Chennai- 600 020 Phone : 91-44-24402311/12/13 Domestics
Marketing: Tel No.:91-44-23460045/46 Fax No.:91-44-23460048 Email: marketing@anabond.com International
Marketing: Tel No.:91-44-24483649 Fax No.:91-44-24928005 Email: exports@anabond.com |
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Overseas
Operations : |
Dusit Court, 14 Soi Wattanawong, Rajprarop Road,
Makasan, Rajtavi, Bangkok- 10400, Thailand. A-09-09, Menara Megah, Jalan Kolam Air 51200, Kuala
Lumpur, Malaysia. |
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Factory
: |
No. 102, Illalur Village, Chengalpet Taluka, Districts
Kancheepuram – 603110, Tamilnadu, Indi |
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Tel No.: |
91-4114-27478757/274 |
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Fax No.: |
91-4114-27478784 |
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Branches : |
Located at: Mumbai Room
No.101, Sundara Palace, Tilak Nagar, Dombivali East, Mumbai
- 421 201, Maharashtra, India Phone : 91 - 251 - 2434299 Fax : 91 - 251 – 2434308 Email : anabond@indiatimes.com
Kolkata P-475,
II Floor, Keyatala Road (South), Kolkata - 700 029, India Phone : 91-33-2466 4447 E-mail : anabondkolkata@vsnl.net
Pondicherry 71,
Vazhuduvur Road, Kondon Palayam, Pondicherry
-605009, Tamilnadu, India Tel.
No. 91-44-24917529/24919493/24917631 Fax.
No. 91-44-24919105 Bangalore 133,
First Floor, 11th Cross,
Malleswaram, Bangalore
- 560 003, Karnataka Tel.
No. 91-80-3315822 Fax.
No. 91-80-3361072 E-mail.
anabond@bgl.vsnl.net.in Navi Mumbai PH-13,
Plot No. 11, Kailash Co-operative
Housing Society,
Sector - 16, Kopar Kharine, Navi
Mumbai -400 701, Maharashtra Tel.
No. 91-22-27549260 Telefax.
No. 91-22-27549270 West Bengal 10 B,
Aswini Dutta Road, Mezzanine Floor, Kolkata-
700 029, West Bengal Tel.
No. 91-33-24667766/9074 Fax.
No. 91-33-24666946 Coimbatore 1951
-E1, Gounder Complex, Trichy Road, Ramanathapuram,
Coimbatore - 641 045 Tel.
No. 91-422-2312641 Fax.
No. 91-422-2314337 E-mail. vensel_tnd@yahoo.com New Delhi 102,
Sai Bhavan Commercial Complex Ranjit
Nagar, New Delhi - 110 008 Tel.
No. 91-11-25700458/7554 Fax.
No. 91-11-25708963 E-mail.
anamarkedel@usa.net Pune "Anugraha
Co-Housing Society", Building - "B", Wing - 3, Flat No. 37, Mhada,
Morewadi, Pimpri, Pune, Maharashtra Tel.
No. 91-20-27440591 Fax.
No. 91-20-2748 5677 E-Mail:
anabondpune@hotmail.com |
DIRECTORS
|
Name : |
Mr. J.
Vijayakumar |
|
Designation : |
Chairman cum
Managing Director |
|
Address : |
41/2D, Athreya
Apartment, 2nd Main Road, Gandhi Nagar, Adyar, Chennai – 600020,
Tamilnadu, India |
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Date of Birth/Age : |
07.09.1951 |
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Date of Appointment : |
24.02.1984 |
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Name : |
Mr. A. V.
Ramanujam |
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Designation : |
Director |
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Address : |
20, 1 Main Road, Ceebros
Apartment, III Floor, Flat No.C-2, Gandhi Nagar, Chennai-600 020, India |
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Date of Birth/Age : |
14.04.1951 |
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Date of Appointment : |
24.02.1984 |
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Name : |
Mr. Ashok Ahuja |
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Designation : |
Director |
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Address : |
H-34, Kirti Nagar,
New Delhi 110 015, India |
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Date of Birth/Age : |
10.06.1956 |
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Date of Appointment : |
30.09.1999 |
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Name : |
Mr. Bernard Syiem |
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Designation : |
Director |
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Address : |
G.S. Road, 9th
Mile, Baridua Village, District – RI – Bhol, Amerigog, Meghalaya – 781023,
India |
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Date of Birth/Age : |
12.08.1968 |
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Date of Appointment : |
15.12.2004 |
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Name : |
Mr. Esakiapillai Srinivasan |
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Designation : |
Director |
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Address : |
23/9, Amirthavanam
Flats, Temple Avenue Srinagar Colony, Saidapet, Chennai – 600015, Tamilnadu,
India |
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Date of Birth/Age : |
17.03.1961 |
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Date of Appointment : |
29.09.2007 |
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Name : |
Mr. Jolarpettai Veeramuthu Sreedhar |
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Designation : |
Director |
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Address : |
No.5G, Deccan
Lakshmi Flats 16th Cross Street, Indira Nagar, Adyar, Chennai –
600020, Tamilnadu, India |
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Date of Birth/Age : |
12.04.1962 |
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Date of Appointment : |
29.09.2007 |
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Name : |
Mr. Kaliappan Adhinarayanan |
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Designation : |
Director |
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Address : |
Plot No.5, Door
No.2, Padmalaya Apartments, Balakrishna Road, Valmiki Nagar – 600041,
Tamilnadu, India |
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Date of Birth/Age : |
20.04.1949 |
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Date of Appointment : |
29.09.2007 |
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Name : |
Mr. Venkateshwaran Lakshminarayanan |
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Designation : |
Director |
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Address : |
No.7, Narayan Kripa GA Jeevarathinam Nagar, Adyar, Chennai – 600020,
Tamilnadu, India |
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Date of Birth/Age : |
18.06.1956 |
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Date of Appointment : |
29.09.2007 |
KEY EXECUTIVES
|
Name : |
Mr. E. Srinivasan |
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Designation : |
Head – Domestic Business |
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Name : |
Mr. J V Sreedhar |
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Designation : |
Head – Specialty Coatings |
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Name : |
Mr. V Lakshminarayanan |
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Designation : |
Finance Controller |
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Name : |
Mr. K Adhinarayanan |
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Designation : |
Vice President R and D |
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Name : |
Mr. A R Kalairaja |
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Designation : |
Group Manager |
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Name : |
Mr. S Esakkimuthu |
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Designation : |
M R – ISO -9001 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
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No. of Shares |
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Mr. J.
Vijayakumar |
|
3641 |
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Mr. A. V.
Ramanujam |
|
21473 |
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Mr. C A Thiagarajan |
|
1216 |
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Mr. S. Murali |
|
808 |
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Mr. E. Shrinivasan |
|
6065 |
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Mr. K Elanchelian |
|
756 |
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Mr. D. S Abel |
|
745 |
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Mr. M P Krishanamurthy |
|
868 |
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Mr. Lawrence D’Souza |
|
5782 |
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Mr. T S Ramchandran |
|
865 |
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Mr. J K Poorneshwaran |
|
732 |
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Mr. J V Sreedhar |
|
5344 |
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Mr. Micheal George |
|
803 |
|
Mr. D N Ahuja |
|
5260 |
|
Mrs. Honeraine Balasamy |
|
782 |
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Mr. Father Guezou S D B |
|
1900 |
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Mr. K adhinarayan |
|
2517 |
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Mr. Ashok Ahuja |
|
5086 |
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Mr. V Vanaja |
|
4809 |
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Mr. V. Sampoornam |
|
3469 |
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Mr. J V Sitva |
|
52300 |
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Mr. J V Sembian |
|
43584 |
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Mr. R Karthik Surya |
|
13862 |
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Mr. A R Kalairaja |
|
1056 |
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Mr. V Lakshminarayanan |
|
2975 |
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Mr. T S Rajeswaran |
|
1500 |
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Mr. R. Sangamitrai Surya |
|
6730 |
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Category |
|
Percentage of
Holding |
|
Directors or relatives of directors |
|
75.28 |
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Others |
|
24.72 |
|
|
|
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Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Adhesives
and Sealants (Liquid Form), Lubricants, and Adhesives and Sealants (Paste
Form) |
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Products : |
Anaerobic Adhesives and Sealants
Speciality Products
Long After Glow Products
Rubber Based
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GENERAL
INFORMATION
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Customers : |
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Bankers : |
C and I Credit
Branch, “Auras Corporate Center” 98-A, Dr. Radhakrishnan Salai, Mylapore,
Chennai - 600004
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Facilities : |
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Banking
Relations : |
Good |
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Auditors : |
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Name : |
R. Srivatsan and
Company Chartered
Accountants, |
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Address : |
Old No. 23, New
No. 2, 1ST Cross Street, Shastri Nagar, Chennai – 600020 ,
Tamilnadu, India |
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Tel. No.: |
91-44-24466781/24911292,
2446-8589/2446 8142 |
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Mobile No.: |
91-44-24466781 |
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Fax No.: |
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Associates/Subsidiaries : |
Anadocs IT Solutions Private Limited CIN No.: U72200TN2003PTC051954 |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
400000 |
Equity Shares |
Rs.100/- each |
Rs. 40.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300230 |
Equity Shares |
Rs.100/- each |
Rs. 30.023 millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
30.023 |
23.003 |
|
|
2] Share Application Money |
|
2.418 |
15.553 |
|
|
3] Reserves & Surplus |
|
207.917 |
97.563 |
|
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
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NETWORTH |
|
240.358 |
136.119 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
61.504 |
31.734 |
|
|
2] Unsecured Loans |
|
7.145 |
5.705 |
|
|
TOTAL BORROWING |
|
68.649 |
37.439 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
|
309.007 |
173.558 |
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
|
152.359 |
68.620 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
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INVESTMENT |
|
33.987 |
22.862 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
51.543
|
39.252 |
|
|
Sundry Debtors |
|
106.584
|
85.517 |
|
|
Cash & Bank Balances |
|
5.283
|
5.681 |
|
|
Other Current Assets |
|
0.000
|
0.000 |
|
|
Loans & Advances |
|
32.849
|
30.437 |
|
Total
Current Assets |
|
196.259
|
160.887 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
57.267
|
66.133 |
|
|
Provisions |
|
18.580
|
13.318 |
|
Total
Current Liabilities |
|
75.847
|
79.451 |
|
|
Net Current Assets |
|
120.412
|
81.436 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
2.249 |
0.640 |
|
|
|
|
|
|
|
|
TOTAL |
|
309.007 |
173.558 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
597.343 |
508.228 |
402.320 |
|
|
Other Income |
4.347 |
5.539 |
4.507 |
|
|
Total Income |
601.690 |
513.767 |
406.827 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
35.182 |
23.038 |
19.221 |
|
|
Provision for Taxation |
3.950 |
2.113 |
4.100 |
|
|
Profit/(Loss) After Tax |
31.232 |
20.925 |
15.121 |
|
|
|
|
|
|
|
|
Export Value |
19.287 |
42.968 |
0.000 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Raw Material Consumed |
310.230 |
272.936 |
215.479 |
|
|
Consumption of stores and spare parts |
8.941 |
7.334 |
62.423 |
|
|
Salaries, wages and bonus |
42.864 |
36.692 |
39.713 |
|
|
Managerial Remuneration |
0.135 |
0.081 |
29.893 |
|
|
Payment of auditors |
9.376 |
7.776 |
0.000 |
|
|
Interest and Finance Charges |
1.284 |
0.945 |
4.587 |
|
|
Insurance Expenses |
8.973 |
8.258 |
0.865 |
|
|
Power and Fuel |
15.243 |
14.414 |
5.843 |
|
|
Depreciation and amortization |
169.462 |
142.293 |
10.301 |
|
|
Other expenditure |
0.000 |
0.000 |
18.502 |
|
Total Expenditure |
566.508 |
490.729 |
387.606 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
5.19
|
4.07
|
3.72 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.89
|
4.53
|
4.78 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
6.61
|
8.37 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.10
|
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
NA
|
0.60
|
0.86 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
NA
|
2.59
|
2.02 |
LOCAL AGENCY
FURTHER INFORMATION
|
Corporate
identity number (CIN) Foreign company registration number |
U99999PY1984PTC000249 |
|
Name of the
Company |
ANABOND LIMITED |
|
Address |
R.S.No.26/2, CAD
No.82, Thirubuvanai Village, Mannadipet Commune, Pondicherry-605 012, India |
|
This form is for |
Creation of
charge |
|
Type of Charge |
Immovable
property |
|
Particulars of
the charge holder |
Indian Overseas
Bank Commercial and
Institutional Credit Branch, 98-A, Dr. Radhkrishnan Salai Mysore, Chennai –
600004, Tamil Nadu, India |
|
Nature or
description of the instrument(s) creating or modifying the charge |
Confirmation
Letter Evidencing Creation of Supplemental Mortgage |
|
Date of the
instrument creating or modifying the charge |
24.10.2007 |
|
Amount secured by
the charge |
Rs.40.000
Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of
Interests: Charges over the company’s
immovable property more specifically described to the supplemental mortgage
attached herewith as collateral to secure the due repayment of credit
facility of Rs.40.00 Millions availed by Anadocs IT Solution Private Limited,
Chennai in favour of the Bank. Terms of
Repayment: Charge over the
company’s immovable property more specifically described to the supplemental
mortgage attached herewith as collateral to secure the due repayment of
credit facility of Rs.40.00 Millions availed by Anadocs IT Solution Private
Limited, Chennai in favour of the Bank. Margin: Charge over the
company’s immovable property more specifically described to the supplemental
mortgage attached herewith as collateral to secure the due repayment of
credit facility of Rs.40.00 Millions availed by Anadocs IT Solution Private
Limited, Chennai in favour of the Bank. Extent and
operation of the charge: Credit facility
of Rs. 40.00 Millions availed by Anadocs IT Solution Private Limited, Chennai
is additionally secured by way of company’s immovable property more
specifically described to the supplemental mortgage attached herewith for its
due repayment favoring the Bank. |
|
Short particulars
of the property charged (including location of the property) |
Factory Land and Building
No.36, Type II Functional Industrial Estate, Thruvanmiyur, Chennai – 600041 Plot No.86,
Developed Plot Estate, Perungudi, Chennai – 600096 Developed Plot
No. 82, Mannadipet Commune, Thirubhuvanai Village, Podicherry Plot No.102,
Ilalur Village, Chenglepet Taluk Door No.12, Plot
No.316, First Avenue, Indira Nagar, Adayar, Chennai - 600020 |
|
Particular of the
present modification |
NA |
|
Name of the company |
ANABOND LIMITED |
||||||||||||
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Presented By |
Indian Overseas
Bank Commercial and Institutional
Credit Branch “Auras Corporate
Center”, 98 – A, Dr. Radhakrishnan Salai, Mylapore, Chennai – 600 004,
Tamilnadu, India |
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1) Date and description of instrument creating the change |
07.09.2001 Letter of
Hypothecation (F 110E) |
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2) Amount secured by the charge/amount owing on the securities of charge |
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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 |
Pari-passu charge
on stocks, stores, book debts and other current assets of the company with
IndusInd Bank Limited (Letter ceding
pari-passu charge from IndusInd Bank Limited, Chennai, dated 03.09.2001) |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Cash Credit: Rate of Interest:
15.50% (PLR + 3.5%) Letter of Credit: Rate of Interest:
As per Standard Rates in Force Letter of
Guarantee: Rate of Interest:
As per Standard Rates in Force. The other terms
and conditions as per the letter of hypothecation and sanction letter of
Indian Overseas Bank, dated 15.05.2001 |
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5) Name and Address and description of the person entitled to the charge. |
Indian Overseas
Bank Commercial and
Institutional Credit Branch “Auras Corporate
Center”, 98 – A, Dr. Radhakrishnan Salai, Mylapore, Chennai – 600 004,
Tamilnadu, India |
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6) Date and brief description of instrument modifying the charge |
06.10.2004 Confirmation
letters evidencing creation of supplemental mortgage. |
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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 existing
Credit facilities for a sum of Rs. 111.087 millions are additionally secured
by way of extraction of supplemental mortgage of the company’s immovable
properties situated at
There is no
change in the total limits. The other terms
and conditions and security description charged to the earlier creation /
modifications shall apply and extend to the said modification. The other terms
and conditions remain as per the documents enclosed herewith. |
Fixed
Assets:
- Land
- Building
- Plant &
Machinery
- Motor Cycles
- Furniture
& Fixture
- Type Writers
- Calculator
- Office
Equipment
- Computer
Profile
Subject was
established in the year 1979, for the development and manufacture of
Engineering Adhesives and Sealants. Subject is the first Indian company to
manufacture Anaerobic Adhesives and Sealants, RTV Silicone Sealants and Single
component epoxies.
These products are used as a raw material for the manufacturing industry or for
the service of different processing industries. Their adhesives find diverse
spectrum of applications in products right from Disposable Syringes to space vehicles.
Subject still remains to be the largest manufacturer and supplier of liquid
gaskets for Indian automobile engine and transmission in India.
Features
· Two
decades of expertise in design and manufacture of Adhesives, Sealants and
Coatings.
· Total Commitment
towards Quality and Service- an ISO 9001 company.
· Dedicated
staff and personalized attention.
· Serving
satisfactorily to a wide cross section of industries.
· Manufacturing
facility at Chennai and Pondicherry.
· With wide
network of offices and dealership points
What Anabond Offers
· A wide
range of Adhesives and Sealants for automobile building.
· Products
of at Consistent Quality at competitive Prices.
· Products
manufactured through stringent process and quality procedures. Conforming
to ATMs
(Anabond Test Methods traceable to ASTM,
DIN and JIS etc)
· Reliable
deliveries.
· Tailor
made grades to suit individual need of CUSTOMER.
· Personalized,
efficient service at Customer's doorstep.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON DESIGNATED
PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 40.29 |
|
UK Pound |
1 |
Rs. 79.98 |
|
Euro |
1 |
Rs. 61.20 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
|
|
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
|
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
46 |
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/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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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