MIRA
INFORM REPORT
|
Report Date : |
07.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
SAKAL PAPERS
LIMITED |
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Registered
Office : |
595, Budhwar Peth,
Pune – 411 002, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2007 |
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Date of
Incorporation : |
16.02.1948 |
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Com. Reg. No.: |
25-6177 |
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CIN No.: |
U22121PN1948PLC006177 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
NGPS03468D |
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Legal Form : |
A Closely held
Public Limited Liability company |
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Line of
Business : |
Printing and
Publishing of newspapers. |
RATING &
COMMENTS
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MIRA’s Rating
: |
Aa |
RATING
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STATUS |
PROPOSED
CREDIT LINE |
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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 |
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Maximum Credit
Limit : |
USD 4000000 |
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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 and reputed publishers of “SAKAL” newspapers. Available information indicates high financial
responsibility of the company.
Financial position is good.
Payments are always correct and as per commitments. The company can
be considered good for normal business dealing at usual trade terms and
conditions. |
LOCATIONS
|
Registered
Office : |
595, Budhwar
Peth, Pune – 411 002, Maharashtra, India |
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Tel. No.: |
91-20-24455500/24455501/24455588/24455500
/ 24405500 |
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Fax No.: |
91-20-24450583 |
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E-Mail : |
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Website : |
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Administration
Office : |
154, Jerbai Wadia
Road, Behind Tata Hospital, Parel, Mumbai – 400012, Maharashtra, India. |
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Press : |
595, Budhwar
Peth, Pune – 411 002, Maharashtra, India |
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Tel. No.: |
91-20-24455500/24455501/24455588/24455500 |
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Fax No.: |
91-20-24450583 |
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E-Mail : |
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Branches : |
Located at: Ø Plot No-42, Sector 11, CBD Belapur, Mumbai
– 400 614, Maharashtra, India. Tel No. 91-22-27572960/27572961 Ø D-4, MIDC, Shiroli, Kolhapur – 416 122,
Maharashtra, India. Tel No. 91-231-2468383/2468384 Ø Plot No-32, MIDC, Satpur, Nasik – 422 007,
Maharashtra, India. Tel No. 91-253-2350066/2350993 |
DIRECTORS
|
Name : |
Ms. Lila Claude
Parulekar |
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Designation : |
Director |
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Address : |
4-A Queens
Garden, Pune – 411001, Maharashtra, India |
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Date of
Birth/Age : |
31.01.1936 |
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Date of
Appointment : |
06.09.1977 |
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Name : |
Mr.
Chandrashekhar Hari Joshi |
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Designation : |
Director |
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Address : |
27/B Budhwar
Peth, Siddharth Chamber, Pune – 411002, Maharashtra, India |
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Date of
Birth/Age : |
01.05.1946 |
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Date of
Appointment : |
21.02.1985 |
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Name : |
Mr. Pratap Govind
Pawar |
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Designation : |
Managing Director |
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Address : |
Plot No. 2, Survey
No. 131/1 Aundh, Pune – 411007, Maharashtra, India |
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Date of
Birth/Age : |
15.10.1944 |
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Date of
Appointment : |
25.03.2006 |
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Name : |
Mr. Yeshwant
Vishnu Chandrachud |
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Designation : |
Chairman cum
Managing Director |
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Address : |
7-B, Samata
Apartment, General Bhosale Marg, Mumbai – 400023, Maharashtra, India |
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Date of
Birth/Age : |
12.07.1920 |
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Date of
Appointment : |
21.09.1985 |
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Name : |
Mrs. Supriya
Sadanand Sule |
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Designation : |
Director |
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Address : |
House No. 2,
First Floor, Silver Oak Estate, Desai Road, Bhulabai Desai Road, Mumbai –
400026, Maharashtra, India |
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Date of
Birth/Age : |
30.06.1969 |
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Date of
Appointment : |
30.12.1996 |
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Name : |
Mr. Abhijit
Pratap Pawar |
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Designation : |
Director |
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Address : |
Plot No. 2,
Survey No. 131/1 Aundh, Pune – 411007, Maharashtra, India |
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Date of
Birth/Age : |
17.02.1972 |
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Date of
Appointment : |
30.12.1996 |
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Name : |
Mrs. Vijaya Mohan
Patil |
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Designation : |
Director |
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Address : |
Anand Residency
Flat No. 3, Second Floor, Plot No. 74-75, First Lane, Aundh, Pune – 411007,
Maharashtra, India |
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Date of
Birth/Age : |
08.02.1958 |
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Date of
Appointment : |
01.01.2005 |
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Name : |
Mr. Shrikrishna
Narhar Inamdar |
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Designation : |
Director |
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Address : |
2A, Ameya
Apartment, Near Kirti College 1193 B Kashi Dharu Marg, Mumbai – 400028,
Maharashtra, India |
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Date of
Birth/Age : |
06.05.1945 |
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Date of
Appointment : |
22.06.2005 |
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Name : |
Mr. Jasdeep Singh
Bedi |
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Designation : |
Director |
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Address : |
A-2, 501/601
Kalpataru Enclave, D p Road, Opp. Hotel Shivsagar, Pune – 411007,
Maharashtra, India |
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Date of
Birth/Age : |
06.06.1972 |
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Date of
Appointment : |
01.09.2005 |
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Name : |
Mr. Mahendra
Singh Garcha |
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Designation : |
Director |
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Address : |
46 Anand Park,
Pooja Heritage, Flat No. 4, Second Floor, Street No. 3, Auindh, Pune –
411007, Maharashtra, India |
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Date of
Birth/Age : |
14.03.1964 |
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Date of
Appointment : |
01.09.2005 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names
of Shareholders |
No. of Shares |
|
Late S. G. P.
Parulekar |
560 |
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Mrs. Lila Claude
Parulekar |
2396 |
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Mr. Pratap Govind
Pawar |
50 |
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Yashad Hospital
Private Limited |
2726 |
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Modular Finance
and Consultancy Private Limited |
5999 |
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Namrata Film
Enterprises Private Limited |
2100 |
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Lap Finance and
Consultancy Private Limited |
58 |
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Pratap Govind
Pawar & Modular Finance and Consultancy Private Limited |
50 |
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Panhala Investment
Private Limited |
5000 |
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Temblai
Investment Private Limited |
3776 |
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Mr.
Chandrashekhar Hari Joshi |
1317 |
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Mr. Abhijit
Pratap Pawar |
968 |
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TOTAL |
25000 |
Equity Shares Breakup (Percentage of Total Equity):
|
Sr No. |
Category |
Percentage |
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1 |
Bodies Corporate |
77.78 |
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2 |
Directors or relative of directors |
16.96 |
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3 |
Other top fifty (50) shareholders |
5.26 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of
Business : |
Printing and
Publishing of newspapers. |
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Products : |
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Imports from : |
Europe and U.S.A |
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Terms : |
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Purchasing : |
L/C and Credit
terms. |
PRODUCTION STATUS
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Particulars |
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Unit |
Installed Capacity |
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Electricity |
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MW |
0.92 |
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Wind Turbine
Generator |
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KW |
230 |
The company’s
installed capacity was as under:
|
Name
of Machine |
No of Units |
Capital per hour per unit
copies of 4 std pages of size 58cms * 41 cms |
|
Goss Suburban |
1 |
14000 |
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Harris N-400 (B) |
4 |
40000 |
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New Line -45 |
18 |
45000 |
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New Line -45 |
6 |
45000 |
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New Line -45 |
6 |
45000 |
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Harris V-15D |
4 |
45000 |
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Harris V-15D |
4 |
45000 |
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Coroset |
4 |
4000 |
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Coroset |
5 |
40000 |
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Newsline -45 |
6 |
40000 |
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Hiline |
1 |
45000 |
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Orient |
1 |
36000 |
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Orient |
1 |
36000 |
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Harris N-4 co(B) |
6 |
36000 |
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Harris V-30 |
4 |
45000 |
GENERAL INFORMATION
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Bankers : |
Ø The United Western Bank Limited, Pune,
Maharashtra, India Ø Bank of Maharashtra, Shivaji Nagar, Pune,
Maharashtra, India. Ø Suvarna Sahakari Bank Limited Ø Cosmos Co-operative Bank Ø Bank of Maharashtra- Lead Bank, Industrial
Finance Branch, F.C. Road, Pune-411005, Maharashtra, India. Ø Bank of Maharashtra, 1177, Budhwar Peth,
Poona – 2 |
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Facilities : |
Secured Loans (Rs. in millions) :
Unsecured Loans (Rs. in millions) :
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Banking Relations : |
Good |
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Auditors : |
G. M. Oka & Company Chartered
Accountants |
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Address : |
32, Swapna Nagri,
Karve Road, Pune – 411 004, Maharashtra, India |
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Tel. No.: |
91-20-30287900/30287500 |
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Fax No.: |
91-20-25440143 |
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E-Mail : |
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Associates/Subsidiaries
: |
v
Ajay
Metachem Private Limited v
United
Metachem Private Limited v
Ojas
Engineering Private Limited v
Modular
Finance & Consultancy Private Limited v
Gomantak Private
Limited v
Wikas
Electrical & Ceramic Products Private Limited v
A P Holding
Private Limited v
Stamford
Warchonologies Developers Private Limited v
D S L
Ventures Private Limited v
Octon
Technologie Private Limited v
Yashad
Hospital Private Limited v
Supriya Holding
Private Limited v
Lap Finance
& Consultancy Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.100/- each |
Rs. 10.000 millions |
Issued, Subscribed
& Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25000 |
Equity Shares |
Rs.100/- each |
Rs.2.500 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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|
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1] Share Capital |
2.500 |
2.500 |
2.500 |
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2] Share
Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves &
Surplus |
792.901 |
715.325 |
495.312 |
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4] (Accumulated
Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH
|
795.401 |
717.825 |
497.812 |
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LOAN FUNDS |
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1] Secured Loans |
626.329 |
376.303 |
165.235 |
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2] Unsecured
Loans |
30.672 |
31.442 |
32.680 |
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TOTAL BORROWING
|
657.001 |
407.745 |
197.915 |
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DEFERRED TAX
LIABILITIES |
13.543 |
17.322 |
22.857 |
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TOTAL
|
1465.945 |
1142.892 |
718.584 |
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APPLICATION OF FUNDS
|
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FIXED ASSETS [Net Block]
|
509.943 |
366.852 |
318.830 |
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Capital work-in-progress
|
6.506 |
0.463 |
0.120 |
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INVESTMENT
|
41.776 |
7.819 |
2.119 |
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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
|
124.430
|
79.177
|
94.287 |
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Sundry Debtors
|
539.558
|
509.285
|
416.355 |
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Cash & Bank Balances
|
147.292
|
94.322
|
67.407
|
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Other Current Assets
|
222.926
|
261.352
|
206.228 |
|
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Loans & Advances
|
361.779
|
170.860
|
59.544 |
Total Current Assets
|
1395.985
|
1114.996
|
843.821 |
|
Less :
CURRENT LIABILITIES & PROVISIONS
|
|
|
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Current Liabilities &
Provision
|
488.216
|
347.238
|
446.306
|
|
|
|
0.049
|
0.000
|
0.000 |
Total Current Liabilities
|
488.265
|
347.238
|
446.306 |
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Net Current Assets
|
907.720
|
767.758
|
397.515
|
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MISCELLANEOUS EXPENSES
|
0.000 |
0.000 |
0.000 |
|
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TOTAL
|
1465.945 |
1142.892 |
718.584 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
2292.061 |
1861.990 |
1589.119 |
|
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Other Income |
130.311 |
213.622 |
96.260 |
|
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Total Income |
2422.372 |
2075.612 |
1685.379 |
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Profit/(Loss) Before Tax |
118.814 |
314.127 |
122.658 |
|
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Provision for Taxation |
40.308 |
94.066 |
47.781 |
|
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Profit/(Loss) After Tax |
78.506 |
220.061 |
74.877 |
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Imports : |
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Capital Goods |
NA |
NA |
1.953 |
|
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Others |
NA |
NA |
80.219 |
|
Total Imports |
NA |
NA |
82.172 |
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Expenditures : |
|
|
|
|
|
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Raw Material Consumed |
1078.922 |
934.772 |
787.553 |
|
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Salaries, Wages, Bonus, etc. |
327.796 |
288.621 |
249.625 |
|
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Managerial Remuneration |
10.497 |
6.607 |
5.122 |
|
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Payment to Auditors |
0.351 |
0.584 |
0.522 |
|
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Interest |
51.828 |
29.900 |
10.126 |
|
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Insurance Expenses |
4.357 |
4.287 |
4.777 |
|
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Bad Debts Written Off |
0.000 |
0.000 |
0.000 |
|
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Power & Fuel |
24.406 |
18.832 |
17.628 |
|
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Depreciation & Amortization |
99.947 |
82.409 |
69.551 |
|
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Other Expenditure |
705.454 |
395.473 |
417.818 |
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Total
Expenditure |
2303.558 |
1761.485 |
1562.722 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
PAT / Total Income
|
(%)
|
3.24
|
10.60
|
4.44 |
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Net Profit Margin
(PBT/Sales) |
(%) |
5.18
|
15.13
|
7.28 |
|
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Return on Total Assets
(PBT/Total
Assets} |
(%) |
6.21
|
21.20
|
10.55 |
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Return on Investment (ROI)
(PBT/Networth) |
|
0.15
|
0.44
|
0.25 |
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|
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Debt Equity Ratio
(Total
Liability/Networth) |
|
1.44
|
1.05
|
1.29
|
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|
|
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|
Current Ratio
(Current
Asset/Current Liability) |
|
2.86
|
3.21
|
1.89
|
LOCAL AGENCY
FURTHER INFORMATION
AGRO WON:
The company started
printing and publishing of a daily Agro Won from 20th April, 2005.
This publication is specifically targeted at the readers from Agricultural segment.
The average print order is 74,721 copies per day. The response from readers is
appreciable.
LEGAL MATTERS:
Civil Suit nos. 225
and 226 of 1998 file in the court of learned Civil Judge senior Division, Pune
by Madeame Parulekar and Ms C L Parulekar
In view of the
judgment of The Honble supreme court 18.03.2005 the two pending being civil
suit nos. 1998 respect 3417 shares and civil suit No. 226 of 1988 in respect of
93 shares in the court judge
Fixed assets
· Land, Leasehold Land,
· Buildings,
· Plant and Machinery,
· Furniture and Fixtures,
· Motors Cars And
· Vehicles,
· Office Equipment’s, etc.
Form 8 Particular for creation
or modification of charges
|
Name of the
Company |
SAKAL PAPERS
PRIVATE LIMITED |
|
Presented By |
Bank of Maharashtra,
1177, Budhwar Peth, Poona - 2 |
|
1) Date and
description of instrument creating the change |
Deed of
hypothecation of book debts of not over 180 days 11.05.72 |
|
2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 0.400 Million |
|
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 |
Hypothecation of
book debts of the company not over 180 days |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
Payable on Demand
Margin – 25% in
bank’s Rate of Interest
– 6% OBR minimum 12% p.a |
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5) Name and
Address and description of the person entitled to the charge. |
Bank of Maharashtra,
1177, Budhwar Peth, Poona – 2 |
|
6) Date and brief description of instrument
modifying the charge |
Nil |
|
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. |
Nil |
|
Corporation identity number or foreign company registrations number of
the company |
U2212MH1948PLC006177 |
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Name of the company |
SAKAL PAPERS LIMITED |
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Address |
Pune -411 030, Maharashtra, India |
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This Form is for |
Modification of charges |
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Type of Charges |
· Book Debts · Movable Property · Others |
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Particular of the charge holder
|
Bank of Maharashtra – Lead Bank Industrial Finance Branch, FC road, Pune –
411 005, Maharashtra, India Email ID: mahabank941@mahabank.co.in |
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|
Nature or description of the instrument creating charge |
· Supplemental Joint and Composite Deed of Hypothecation · Supplemental Credit Facilities Consortium Agreement Both Constitute a single charge and dated
23.10.2006 |
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Date of the instrument creating charge |
23.10.2006 |
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Amount Secure by the charge |
Rs. 1550.250 millions |
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Brief of the principal terms and conditions and extent and operation
of the charge |
Rate of interest: Bank of Maharashtra Cash Credit New Term Loan – BPLR -2% with monthly rests Cosmos Bank Cash Credit New Term Loan -9.50% p.a with monthly rests Terms and conditions of facilities granted by UWB unchanged Terms of repayment: BOM New Term loan Rs. 290.000 millions Principal amount repayable
within five year by equal installment commence from succeeding month of 01.01.2007 Cosmos Bank New term Loan – Rs. 130.000 millions Principal amount
repayable within 60 months Margin: BOM – Cash Credit , New term Loan -25% Cosmos Bank – Cash Credit / LOC , New term loan -25% Terms and conditions of facilities granted by UWB unchanged Extent and Operation of the charge:
Others: Rate of comm.-BOM Bank Guarantee - 50% of normal commission, L/C – As per
Bank’s / FEDAI norms. |
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|
Short particulars of the Property charged |
Current assets of the Company at the company’s factories, premises and
godowns situate at Pune, Mumbai Kolhapur, and Nashik in the state of Maharashtra
or elsewhere or wherever else the same may be situated. |
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Particulars of the present modification |
Rearrangement of finance. The Limits increased by BOM to Rs. 844.300
millions and Cosmos Bank has increased its limits to Rs. 357.500 millions.
The limit UWBL remained unaltered. Total limits stands enhanced to Rs.
1550.250 millions from Rs. 954.450 millions.
|
WEBSITE DETAILS:
The genesis of the Sakaal
Group of Publications dates back to 1932 when it was founded as Sakaal, a local Marathi daily in Pune,
where it is still headquartered. However, in the 75 years of its existence its
growth has been both rapid and remarkable. From a single edition vernacular
newspaper to the multi-faceted Sakaal
Group of Publications, it has now become a multilingual Media House. The saga
of the Sakaal Group is without
parallel in the media industry.
Subject was published
in nine editions and reaches
the length and breadth of Maharashtra. It enjoys a loyal readership that cuts across the rural-urban
divide. Furthermore, the House of Sakaal
also brings out two Marathi weeklies. Saptahik Sakaal, for the whole family, which is the highest-circulated
Marathi weekly in Maharashtra,
and Tanishka, a glossy Marathi magazine, especially for the modern Indian
woman.
The Sakaal Group also
publishes two full-fledged English newspapers, viz. The Maharashtra Herald from Pune and Gomantak Times from Goa. Ever
since it was acquired by the Sakaal
Group, Furthermore, the Sakaal
Group brings out Agrowon, a 16-page tabloid newspaper on agriculture, published in six editions, which is the only one of its
kind in Asia! The Group also hosts an online edition of its newspapers.
Besides, Sakaal’s 4321 SMS-based
services offer mobile users in Maharashtra
and Goa fresh updates on a wide range of topics. And now, the Sakaal Group is about to launch a
full-fledged Hindi TV channel.
The Sakaal Group brings
out a weekly yellow pages pullout, which is the first such initiative by any
newspaper group in India. Other than that, its B and P Division publishes books
on behalf of the Group, and has already produced 10 titles on diverse topics.
The Sakaal Group has also set up
an Education Cell at Pune, which publishes books and periodicals of academic
value for school students.
The Events Division of the Sakaal
Group organizes special events with mass appeal like exhibitions, conferences
and seminars. And, to top it all, the Sakaal
Group of Publications works for social causes through its instruments like the Sakaal Relief Fund, which is aimed at
providing immediate aid to victims of natural disasters, and Madhurangan, which
is an exclusive forum for women, to name just two.
The Sakaal Group is
committed to the adoption of the latest technology like Smart flow and SAP,
which has enabled it maintain its high levels of quality. Similarly,
incorporation of the Six Sigma philosophy of management clearly indicates Subject’s desire to keep up with the
times. Evolving into a world class multinational that combines eastern thought
with western technology is the Sakaal
Group’s goal, which inspires its core team comprising more than 2,000
self-motivated individuals.
Group Profile
Headquartered in Pune, the Sakaal Group is a vast media syndicate that
has made a vivid imprint on the media canvas. With seven core publications that
include three Marathi and two English dailies, and two Marathi weeklies,
extensively covering Maharashtra and Goa, which collectively enjoy a loyal
readership of over six million discerning people. Its e-paper is assiduously
accessed by Netizens all over the globe giving the Sakaal Group phenomenally
wide penetration and reach. Besides, the Sakaal Group also organizes special
events throughout the year, brings out an educational weekly, yellow pages, and
also undertakes commercial printing.
Focused Talent
Subject is a people-oriented organization. It's a resource pool
comprising motivated, dynamic individuals who channel their ideas and energies towards
achieving the broader corporate goal. They are educated, competent and
experienced persons who possess skill sets that drive the company. They have an
open and pulsating work environment that offers scope for advancement and
growth.
PRESS RELEASE:
India in global
Affairs Magazine launched
INDIA and GLOBAL AFFAIRS (IGA) is a quarterly magazine, and much more.
It has been so designed keeping in mind the needs and expectations of the
global thinkers, movers and shakers. Leaders, with their ear to the ground and
an eye all around. Opinion-makers, who have their own take on the situation,
and yet, respect the other viewpoint. Achievers, who are constantly reaching
out to new horizons. IGA aims to be the preferred platform for world
personalities to express opinion, raise and discuss issues, and collaborate to
take the world towards the future.
The first edition of IGA was formally launched by the Prime Minister of India,
Dr. Manmohan Singh on 10th January 2008.
Sakaal takes a big SAP forward
CORRESPONDENT
bureau@sakalherald.com
NEW DELHI: Sakaal Group of Newspapers has won the SAP – ACE 2007 award
in recognition of its efforts in setting global benchmarks in excellence
through implementation of SAP technology. Sakaal’s Director (Technology)
Bhausaheb Patil received the award from SAP AG’s Chief Executive Officer
Henning Kagermann at a function held at a Hyatt Regency on Monday evening.The
Sakaal Group won the award for customer excellence in the Best Media Sector
Implementation – Midsize Enterprises Category. It was the first regional
language newspaper to implement SAP in 2003, that in turn resulted in enormous
savings in terms of manhours and breathed in more efficiency across its
editions.
The group already has 500 trained SAP employees. Kagermann said that India
ranks next only to Germany and US in implementing SAP followed by China and
Japan and the user base is expanding. Eight of the 12 Navratna companies also
use SAP, he added. Industry majors like Tata, Mahindra and Mahindra, Reliance
Telecom, NTPC, BHEL, L and T, won awards in various other categories, National
Housing Bank, Kuoni Travel Group, Dimexon Diamonds won the awards in the medium
size enterprises category. Sixteen companies in Rs. 10000.000 millions plus
turnover and 14 companies in below Rs.10000.000 millions turnover were awarded
in different categories. Nine other companies were also honoured with Special
Jury awards.
The panel of judges comprised Subhiksha Trading Services R. Subramaniam, ONGC
CIO T Ravindran, VP and Group CIO, RPG Group Amit Mukerjee, Head ERP Centre of
Excellence, IIM B, Krishna Sunder, former IT Advisor – TVS Group Venkat Rajan
and others. Ranjan Das, President and CEO SAP Indian Subcontinent, Nimesh
Mehta, Vice-President, and SAP Ecosystem’s executive president Zia Yusuf were
present.
CMT REPORT
(Corruption, Money Laundering and 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.40.67 |
|
UK Pound |
1 |
Rs.82.03 |
|
Euro |
1 |
Rs.62.54 |
SCORE and 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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history (10%) Market
trend (10%) Operational
size (10%)
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial and 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 and 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 |
|