MIRA
INFORM REPORT
|
Report Date : |
15.05.2008 |
IDENTIFICATION
DETAILS
|
Name : |
ABHYUDAYA CO-OPERATIVE BANK LIMITED |
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Registered Office : |
Abhyudaya Nagar, Building
No. 36, G. D. Ambekar Marg, Kalachowky, Mumbai – 400 033, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
16.01.1964 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMA06836E |
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Legal Form : |
Cooperative Bank |
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Line of Business : |
Banking
Activities |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 30019600 |
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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 cooperative bank. Trade relations are fair. Nothing adverse
reported. Trade relations are fair. Payments are correct and as per
commitments. The subject can
be considered normal for business dealings at usual trade terms and
conditions. |
LOCATIONS
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Registered Office : |
Abhyudaya Nagar,
Building No. 36, G. D. Ambekar Marg, Kalachowky, Mumbai – 400 033,
Maharashtra |
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Tel. No.: |
91-22-56053708 |
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Fax No.: |
91-22-24701271 |
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E-Mail : |
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Website : |
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Administrative
Office : |
K. K. Tower,
Abhyudaya Bank Lane, Off G. D. Ambekar Marg, Parel Village, Mumbai – 400 012,
Maharashtra, India |
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Tel. No.: |
91-22-24140961-64/
56053690 |
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Fax No.: |
91-22-24139782 |
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E-Mail : |
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Staff Training
College: |
Abhyudaya Bank
Building, Abhyudaya Bank Marg, Sector 17, Vashi, Navi Mumbai – 400 705,
Maharashtra, India. |
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Tel. No.: |
91-22-56107386 |
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E-Mail : |
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Clearing & Treasury Department: |
Abhyudaya Bank
Building, 251 Perin Nariman Street, Fort, Mumbai – 400 001, Maharashtra,
India. |
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Tel. No.: |
91-22-22666905/
56053719/ 22617543/ 22693455-58 |
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Fax No.: |
91-22-22613891/
22692923 |
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E-Mail : |
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Accounts & Inspection Departments: |
Abhyudaya Bank Building,
Abhyudaya Bank Marg, Sector 17, Vashi, Navi Mumbai – 400 705, Maharashtra,
India. |
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Tel. No.: |
91-22-27895121/
56107389/ 27896273/ 56107388 |
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Fax No.: |
91-22-27895123 |
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E-Mail : |
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Recovery
Department: |
Shrama Safalya,
63, G. D. Amberkar Marg, Parel Village, Mumbai – 400 012, Maharashtra, India. |
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Tel. No.: |
91-22-24153694-95/
65053709-3692 |
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Fax No.: |
91-22-24153697 |
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E-Mail : |
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Housing Loan
Cell: |
Gurukrupa CHS
Limited, Opposite Plaza Cinema, Dadar (West), Mumbai – 400 028, Maharashtra,
India. |
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Tel. No.: |
91-22-24325136/
56053705 |
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Fax No.: |
91-22-24384655 |
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ZONAL OFFICES: |
Western: Lumbini Building,
National Library Road, Bandra (West), Mumbai – 400 050, Maharashtra, India. Tel. No.:
91-22-26426721/ 65053715 Fax No.:
91-22-26420368 Email: dgmwz@abhyudayabank.net Central: 4/5, Sunita
Apartment, R. B. Kadam Marg, Ghatkopar (West), Mumbai – 400 086, Maharashtra,
India. Tel. No.:
91-22-65053714/ 25139213 Fax No.:
91-22-25138846 Email: dgmcz@abhyudayabank.net Navi Mumbai: Abhyudaya Bank Building, Abhyudaya Bank
Marg, Sector 17, Vashi, Navi Mumbai – 400 705, Maharashtra, India. Tel. No.: 91-22-56107390-92 Fax No.: 91-22-27891815 Email: dgmnmz@abhyudayabank.net Pune: 1,2 & 16, Dhanwant Plaza, Badhwar
Peth, Pune – 411 002, India Tel. No.: 91-9520-24491119/ 1098 |
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Branches: |
Places: Brihan
Mumbai Abhyudaya Nagar CreditCell Andheri Bail Bazar Bhandup Borivali Dadar Darukhana Dharavi Fort Ghatkopar Hill Road
(Bandra) Kandivli Kanjur Kher Nagar
(Bandra) Malad (East) Malad(West) Mulund (West) Nehru Nagar Parel Sewri SherlyRajan Wadala Worli Nhava Sheva Nerul New Panvel Turbhe Vashi Thane Bhiwandi Mumbra Naupada Lokmanya Nagar Pune: Baner Survey No.264,
Muktai Bunglow, Baner, Pune-411 045 Budhwar Peth 598, Dhanwant
Plaza, Budhwar Peth, Pune-411 002 Deccan Gymkhana Amit Samruddhi,
Off. M.J.Road, Shivaji Nagar, Pune-411 004 Dhankawadi Shivsmarak
Samiti, Pune-Satara Road, Dhankwadi, Pune-411 037 Kirkee(Khadki) 46,
"D", Aundh Road, Khadki, Pune-411 007 LaxmiRoad 867, Budhwar
Peth, Laxmi Road, Pune-411 002 Nana Peth 355, NanaPeth,
Pune-411 002 Paud Road Mangalam Chambers,
Erandwana, Paud Road, Pune-411 038 Pimpri Plot No. 1 20,
Jamthani Road, Pimpri, Pune-411017 Shivaji Nagar 1 85, Devki
Apartment, Shivaji Nagar, Pune-411 005 Sinhgad Road Chintamani
Vertex, Hingane Khurd, Sinhgad Road, Pune-411 051 Thergaon S.No. 19-B, Dange Chowk, Ganesh Mandir, Pune-411 033 Wagholi 620, Pune Nagar
Road, Wagholi, Tal.Haveli, Pune-412 207 Yerawada Seiko Apartment,
Nagar Road, Yerawada, Pune-411 006 Extension
Counter: Bhandup |
DIRECTORS
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Name : |
Mr. Sandeep S. Ghandat |
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Designation : |
Chairman |
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Name : |
Mr. Harihar S. Jaiswar |
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Designation : |
Vice Chairman |
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Name : |
Mr. Manjayya C. Shetty |
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Designation : |
Managing Director |
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Name : |
Mr. Raghuram V. Shetty |
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Designation : |
Director |
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Name : |
Mr. Maruti S. Mehetre |
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Designation : |
Director |
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Name : |
Mr. Bhiwa M. Shivdikar |
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Designation : |
Director |
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Name : |
Mr. Sitaram C. Ghandat |
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Designation : |
Director |
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Name : |
Mr. Achyut L. Kandpile |
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Designation : |
Director |
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Name : |
Mr. Ashok R. Chalke |
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Designation : |
Director |
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Name : |
Mr. Mhatarba
S. Kane |
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Designation : |
Director |
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Name : |
Mr. Yeshwant
M. Shinde |
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Designation : |
Director |
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Name : |
Mrs. Jessie C. D'Silva |
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Designation : |
Director |
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Name : |
Mrs. Ratnamala M. Gorde |
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Designation : |
Director |
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Name : |
Mr. Nityanand
M. Prabhu |
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Designation : |
Director |
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Name : |
Mr. Jayantilal
C. Jain |
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Designation : |
Director |
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Name : |
Mr. Vinod
K. Shah |
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Designation : |
Director |
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Name : |
Mr. Vilas
R. Jadhav |
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Designation : |
Director |
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Name : |
Mr. Waman
V. Nalbhimwar |
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Designation : |
Director |
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Name : |
Mr. Shashikant
N. Shetty |
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Designation : |
(Staff Representative) |
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Name : |
Mr. Kishore T. Kadam |
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Designation : |
(Staff Representative) |
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Name : |
Mr. Manjayya C.
Shetty |
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Designation : |
Managing Director
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Name : |
Mr. Rajeev D.
Gangal |
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Designation : |
General Manager |
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Name : |
Mr. Vijay S.
Morye |
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Designation : |
Additional General Manager |
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Name : |
Mr. Vishnu M.
Jadhav |
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Designation : |
Dy. General Manager (Western Zone) |
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Name : |
Mr. Sadanand K.
Nayak |
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Designation : |
Dy. General
Manager (Central Zone) |
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Name : |
Mr. Hasan S.
Patel |
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Designation : |
Dy. General
Manager (Legal & Recovery Department)(upto 11-07-06) |
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Name : |
Mr. Puneethkumar R.
Shetty |
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Designation : |
Dy. General
Manager (Pune Zone.) |
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Name : |
Mr. Prakash K. Naik |
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Designation : |
Dy. General Manager (Navi Mumbai Zone) |
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Name : |
Mr. Dhanji G.
Kurlawala |
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Designation : |
Dy. General
Manager (I.T. Department) |
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Name : |
Mr. Dattaram H.
Dawal |
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Designation : |
Assistant General Manager (Legal &
Recovery Department) |
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Name : |
Mr. Anil G. Khatu |
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Designation : |
Assistant General Manager (Accounts
Department) |
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Name : |
Mr. Prasanth L.
Mohapatra |
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Designation : |
Assistant General Manager (Loans &
Advances Department) |
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Name : |
Mr. Anil K. Nikam |
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Designation : |
Assistant General Manager (Clearing &
Treasury Department) |
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Name : |
Mr. Mukund K.
Agashe |
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Designation : |
Senior Manager (Industrial Finance Department) |
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Name : |
Mr. V. Sampath |
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Designation : |
Senior Manager (Inspection
& Vigilance Department) |
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Name : |
Mr. Anthony P.
Naronha |
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Designation : |
Senior Manager (Legal
Department) |
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Name : |
Mr. Sonudas A.
Naik |
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Designation : |
Senior Manager (Development
Department) |
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Name : |
Mr. Jagajeevandas
Raai |
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Designation : |
Professional
Director |
BUSINESS DETAILS
|
Line of Business : |
Banking
Activities |
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GENERAL
INFORMATION
|
No. of Employees : |
1285 |
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Bankers : |
Reserve Bank of
India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Haribhakti &
Company Chartered
Accountant |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000000 |
Equity Shares |
Rs. 10/- each |
Rs. 500.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
26279222 |
Equity Shares |
Rs. 10/- each |
Rs. 262.792 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 |
323.200 |
262.800 |
224.200 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
7181.700 |
6230.100 |
5580.200 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
7504.900 |
6492.900 |
5804.400 |
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LOAN FUNDS |
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1] Secured Loans |
21549.800 |
18358.700 |
16468.000 |
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2] Unsecured Loans |
713.200 |
0.000 |
0.000 |
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TOTAL BORROWING |
22263.000 |
18358.700 |
16468.000 |
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DEFERRED TAX LIABILITIES |
911.500 |
500.000 |
418.300 |
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TOTAL |
30679.400 |
25351.600 |
22690.700 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
252.200 |
158.800 |
176.900 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
11885.500 |
12635.300 |
9425.600 |
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DEFERREX TAX ASSETS |
2060.900 |
1347.700 |
1063.200 |
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
0.000
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
3291.300
|
2011.100 |
741.800 |
|
|
Other Current Assets |
350.000
|
50.000 |
3442.100 |
|
|
Loans & Advances |
12839.500
|
9148.700 |
7841.100 |
|
Total
Current Assets |
16480.800
|
11209.800 |
12025.000 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Net Current Assets |
16480.800
|
11209.800 |
12025.000 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
30679.400 |
25351.600 |
22690.700 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
2331.600 |
2023.900 |
1926.900 |
|
|
Other Income |
211.400 |
281.700 |
155.700 |
|
|
Total Income |
2543.000 |
2305.600 |
2082.600 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
170.600 |
727.000 |
221.700 |
|
|
Provision for Taxation |
0.000 |
0.000 |
0.000 |
|
|
Profit/(Loss) After Tax |
170.600 |
727.000 |
221.700 |
|
|
|
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Expenditures : |
|
|
|
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|
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Interest |
976.400 |
847.900 |
873.700 |
|
|
Insurance Expenses |
863.900 |
582.500 |
553.900 |
|
|
Provision and Contingencies |
532.100 |
148.200 |
433.300 |
|
Total Expenditure |
2372.400 |
1578.600 |
1860.900 |
|
KEY RATIOS
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
Credit Deposit Ratio |
55.10
|
48.78 |
47.53 |
|
Investment Deposit Ratio |
61.44
|
63.34 |
55.99 |
|
Cash Deposit Ratio |
13.29
|
7.90 |
4.41 |
|
Interest Expended/Interest Earned |
41.88
|
41.89 |
45.34 |
|
Other Income/Total Income |
8.31
|
12.22 |
7.48 |
|
Operating Expense/Total Income |
33.97
|
25.26 |
26.60 |
|
Interest Income/Total Funds |
8.32
|
8.43 |
8.63 |
|
Interest Expended /Total Funds |
3.49
|
3.53 |
3.91 |
|
Net Interest Income/Total Funds |
4.84
|
4.90 |
4.72 |
|
Non Interest Income/Total Funds |
0.75
|
1.17 |
0.70 |
|
Operating Expense/Total Income |
3.08
|
2.42 |
2.48 |
|
Profit Before Provisions/Total Funds |
2.51
|
3.64 |
2.93 |
|
Net Profit/Total Funds |
0.61
|
3.03 |
0.99 |
|
Return On Net Worth (%) |
2.44
|
11.82 |
4.00 |
LOCAL AGENCY
FURTHER INFORMATION
Profile
Subject is one of the leading Urban Co-operative
Banks in India, in its outlook and approach, has the objective of progress and
prosperity of all. From a humble beginning in January 1964 as a Co-operative
Credit society with a share capital of a merely Rs.5,000/- held by 83 members,
today Abhyudaya Co-op bank has become one of the large Urban Co-operative Banks
with a "Scheduled Bank" status. The bank has been converted into a " Multi-State Scheduled Urban Co-op.
Bank " w.e.f. 11th January, 2007. The area of
operation which was restricted to the State of Maharashtra has now been
extended to Karnataka State. Currently, the capital base of the bank
stands at Rs. 323.200
millions and Reserves and surpluses at Rs. 6199.300 millions. The bank has 1,17,139 members and more than 11 lakh depositors. The
Bank has seen a tremendous growth in deposits. The deposits of the bank are
over Rs. 21550.000
millions as on 31.03.2007, which were Rs. 18360.000 millions as at the end of
the financial year 2005-2006. The loans and
advances stood at Rs. 12840.000
millions as on 31.03.2007. The bank had posted a net income of Rs. 187.500 millions as on 31.03.2007. The growth rate
of the bank compares well with that of others in the sector. The Bank has
maintained a steady growth. The bank has been paying dividend @ 15% to its
members which is maximum permissible as per the MCS Act.
The Bank has launched different loan schemes tailor-made to suit the needs of
various customers. The schemes aim at providing loans for purchase or
construction of residential premises, repair/renovation of house property,
purchase of car, seeking higher education and for purchase of household
consumer durable. One of the loan schemes, viz. "Udyog Vikas Yojana"
is specially designed for the benefit of small entrepreneurs and businessmen.
The procedure for sanctioning of loans under the schemes has been simplified
and relaxed with a view to attract new customers and facilitating speedy
sanction of loans. The Bank has total 53 Branches including a Mobile Bank at Navi Mumbai. Bank is committed to spread
network of branches throughout the State and provide much needed banking
services to the population, which has been deprived of the banking facilities.
Innovative Banking is another area of
operation that Abhyudaya is currently focusing on for a sustainable long term
growth. The Bank has always endeavored for providing satisfactory customer
service with the help of the latest technology. The Bank has provided fully
computerised services to its valued clients. Bank is offering 11 Hours fully computerised services at
15 branches and 24 hours ATM service at 32 branches. With a view to meet the challenges of technologically advanced banking
system and to upgrade its existing technology, the bank has decided to
introduce "Total Bank Automation" to provide the facility of
inter-branch connectivity for any time and any branch banking transactions.
|
Shri
Manjayya C. Shetty |
Managing Director |
|
Shri
Rajeev D. Gangal |
General Manager |
|
Shri
Vijay S. Morye |
Additional General Manager |
|
Shri Vishnu
M. Jadhav |
Deputy General Manager (Central Zone) |
|
Shri
Sadanand K. Nayak |
Deputy General Manager (Western Zone) |
|
Shri
Prakash K. Naik |
Deputy General Manager (Navi Mumbai Zone) |
|
Shri
Puneetkumar R. Shetty |
Deputy General Manager (Treasury Dept.) |
|
Shri
Hasan S. Patel |
Deputy General Manager (Legal & Recovery) (Upto 11-07-2006) |
|
Shri
Dhanji G. Kurlawala |
Deputy General Manager (Information Technology & Shares
Department) |
|
Shri
Anil G. Khatu |
Assistant General Manager (Accounts Department) |
|
Shri
Prashant K. Mohapatra |
Assistant General Manager (Loans & Advances) |
|
Shri
Anil K. Nikam |
Assistant General Manager (Clearing & & Treasury Department) |
|
Shri
Mukund K. Agashe |
Senior Manager (Industrial & Finance Department) |
|
Shri
V. Sampath |
Senior Manager (Inspection & Vigilance Department) |
|
Shri
Anthony P. Naronha |
Senior Manager (Legal Department) |
|
Shri
Sonudas A. Naik |
Senior Manager (Development Department) |
|
Administrative Offices &
Departments : |
|
|
Registered Office & Shares Dept. |
share@abhyudayabank.net |
|
Central Clearing Department |
clearing@abhyudayabank.net |
|
Treasury Department |
treasury@abhyudayabank.net |
|
Accounts Department |
accounts@abhyudayabank.net |
|
Inspection
Department |
inspection@abhyudayabank.net |
|
Legal Department |
legal@abhyudayabank.net |
|
Recovery Department |
recovery@abhyudayabank.net |
|
Information Technology Department |
it@abhyudayabank.net |
|
Personnel Department |
personnel@abhyudayabank.net |
|
Secretarial
Department |
secretarial@abhyudayabank.net |
|
Development Department |
development@abhyudayabank.net |
|
Loans Department |
loans@abhyudayabank.net |
|
Insurance Department |
insurance@abhyudayabank.net |
|
Industrial Finance Department |
industrial@abhyudayabank.net |
|
Stationery Department |
stationery@abhyudayabank.net |
|
Staff Training College |
training@abhyudayabank.net |
|
Marketing Cell |
mkt@abhyudayabank.net |
|
Vigilance Department |
vigilance@abhyudayabank.net |
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Zonal Offices : |
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Western |
dgmwz@abhyudayabank.net |
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Central |
dgmcz@abhyudayabank.net |
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Navi Mumbai |
dgmnz@abhyudayabank.net |
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Administration |
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Shri Sandeep S. Ghandat (Chairman) |
chairman@abhyudayabank.net |
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Shri Harihar S. Jaiswar (Vice-Chairman) |
vicechairman@abhyudayabank.net |
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Shri Manjayya C. Shetty (Managing Director) |
mcshetty@abhyudayabank.net |
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Shri Rajeev D. Gangal (General Manager) |
rdgangal@abhyudayabank.net |
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Shri Vijay S. Morye (Addl. General Manager) |
vsmorye@abhyudayabank.net |
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Shri Sadanand K. Nayak (Deputy General Manager) |
sknayak@abhyudayabank.net |
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Shri Hasan S. Patel (Deputy General Manager) |
hspatel@abhyudayabank.net |
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Shri Vishnu M. Jadhav (Deputy General Manager) |
vmjadhav@abhyudayabank.net |
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Shri Puneethkumar R. Shetty (Deputy General Manager) |
prshetty@abhyudayabank.net |
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Shri Prakash K.Naik (Deputy General Manager) |
pknaik@abhyudayabank.net |
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Shri Dhanji G. Kurlawala (Deputy General Manager) (I T & Shares Dept.) |
dgkurlawala@abhyudayabank.net |
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Shri Mukund K. Agashe (Senior Manager) (Industrial Finance Dept.) |
mkagashe@abhyudayabank.net |
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Shri Denzil G. Mathias (Manager - Software) (Information Technology Dept.) |
dgmathias@abhyudayabank.net |
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Shri Pundlik D. Kharade (Manager - Hardware) (Information Technology Dept.) |
pdkharade@abhyudayabank.net |
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Shri Anant D. Dhanpawde (Manager ) (Information Technology Dept.) |
addhanpawde@abhyudayabank.net |
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Shri Swapnil S. Dalvi (Manager ) (Information Technology Dept.) |
ssdalvi@abhyudayabank.net |
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Shri Milind H.Pharande (Manager) (Personnel Dept.) |
mhpharande@abhyudayabank.net |
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Shri S.D.Kulkarni (Manager) (Industrial Finance Dept.) |
sdkulkarni@abhyudayabank.net |
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Smt. Usha Y. Thakur (Law Officer) |
uythakur@abhyudayabank.net |
Operational
Results:
The growth of Deposits and Advances was an area
of concern in the previous year when the annual growth rate of both Deposits
and Advances remained below 2%. However, the negative trend was overcome during
the year and the Deposits of the Bank have grown by Rs. 1890.700 Millions and
registered a healthy and normal growth of 11.48%. Similarly, the Bank's
Advances have grown by Rs.1307.600 Millions registering a growth rate of
16.68%. As a result of the higher growth rate of Advances, the Bank has
achieved a CD ratio of 49.83% as on 31.3.2006, as against the CD ratio of
47.61% as on 31.3.2005.
Membership :
The number of shareholder members has
increased from 109035 to 112523 by the year end. During the year, 5162 new
members were admitted; whereas membership of 1674 members was discontinued because
of resignation, death etc. At the end of the year 2005-06, the nominal
membership of the bank stood at 47725
Paid Up Capital and Reserves :
Paid up capital of the Bank increased from
Rs. 224.200 Millions as on 31.03.2005 to Rs. 262.800 Millions as on 31.03.2006
registering a growth of 17.22% over the previous year. The Reserves and other
funds have increased from Rs. 4739.500 Millions as on 31.03.2005 to Rs.
4881.600 Millions as on 31.03.2006. The overall additional contribution to
reserves
Merger of “Citizens Co-operative Bank
Limited, Pune” with the Bank:
With a view to spreading the branch network
and derive benefits and vast business potentials of the area in and around pune
city, the bank approached RBI and Co-operative Department authorities with
proposal for the merger of citizens Co-Operative Bank Limited with the bank.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
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. 42.33 |
|
UK Pound |
1 |
Rs. 82.31 |
|
Euro |
1 |
Rs. 65.46 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
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--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--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 |
NO |
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--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
66 |
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 |
|