MIRA
INFORM REPORT
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Report Date : |
23.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
BALAJI PAPER AND NEWSPRINT PRIVATE LIMITED |
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Registered Office : |
23 Brabourne Road Crown, Kolkata - 700 001, West Bengal |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
10.06.1998 |
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Com. Reg. No.: |
087316 |
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CIN No.: [Company
Identification No.] |
U21013WB1998PTC087316 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CALB05700C |
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PAN No.: [Permanent
Account No.] |
AAGCS5168Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturing of Paper, Board & Paper Products |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 581932 |
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Status : |
Good |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed company having satisfactory
track. Trade relations are fair. Financial position is good. Payments are
usually correct and as per commitments. The company can be considered good for normal business dealings as
usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
23 Brabourne Road Crown, Kolkata – 700 001, West Bengal, India |
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Tel. No.: |
91-33-22427644 |
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Fax No.: |
91-33-22427643 |
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E-Mail : |
pss123@cal2.vsnl.net.in |
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Factory : |
Manikpara, Jhargram, Dist : Paschim Medinipur – 721 513, West Bengal, India |
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Tel. No.: |
03222-230594 |
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Fax No.: |
03222-230598 |
DIRECTORS
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Name : |
Mr. Ram Avtar Agarwal |
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Designation : |
Director |
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Address : |
8, Narayan Prasad Babu Lane, Kolkata – 700 007, West Bengal. |
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Date of Birth/Age : |
10.09.1943 |
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Date of Appointment : |
10.06.1998 |
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Name : |
Mrs. Ritu Agarwal |
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Designation : |
Director |
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Address : |
8, Narayan Prasad Babu Lane, Kolkata – 700 007, West Bengal. |
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Date of Birth/Age : |
26.06.1972 |
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Date of Appointment : |
10.06.1998 |
KEY EXECUTIVES
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Name : |
Mr. Pradip Kumar Kandar |
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Designation : |
Company Secretary |
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Address : |
Sukanta Nagar, Sonarpur, Kolkata 700 150 |
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Name : |
Mr. Manish Agarwal |
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Designation : |
Chief Executive Officer |
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MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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(As on 30.09.2005) |
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Names of Shareholders |
No. of Shares |
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Manish Agarwal |
100 |
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Ram Avtar Agarwal |
40100 |
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Ritu Agarwal |
100 |
|
Bimlok Properties Private Limited |
20000 |
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Saphire Securities Private Limited |
20000 |
|
Ravi Kandoi |
10000 |
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Dipti Kandoi |
10000 |
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Hemsagar Dealers Private Limited |
30000 |
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JPS Trexim Private |
20000 |
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Albatros Investment Private Limited
|
40000 |
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Netsys Technologies Private Limited |
20000 |
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Chaplet Tracon Private Limited |
60000 |
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Mandyati Dealcom Private Limited |
20000 |
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Sarthak Sales Private Limited |
40000 |
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Jhalak Marketing Private Limited |
20000 |
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Imtihan Commercial Private Limited |
20000 |
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Prabhu Suppliers Private Limited |
20000 |
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Prabhu Merchandise Private Limited |
20000 |
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Gitabali Merchants Private Limited |
20000 |
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Expresso Tie Up Private Limited |
20000 |
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Shefali Goods Private Limited |
20000 |
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Grower Distributor Private Limited |
10000 |
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Priya Nivesh Private Limited |
20000 |
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Pee Dee Viniyog Private Limited |
10000 |
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Data Soft Holding Private Limited |
10000 |
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Kishan Chemical Fertilizers Private Limited |
20000 |
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Regency Distributors Private Limited |
30000 |
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Apex Credit Private Limited |
12000 |
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Cee Peem Electronics and Engineering Private Limited |
8100 |
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Rajendra Pandit |
2700 |
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Alpha Vinimay Private Limited |
70000 |
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Coorg Vinicom Private Limited |
94000 |
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Delight Sales Private Limited |
40000 |
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Millenium Vyapaar Private Limited |
60000 |
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Moon Fiscal Services Private Limited |
61000 |
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Navnita Dealcomm Private Limited |
26000 |
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Purvanchal Merchandise Private Limited |
95000 |
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Ranjit Distributors Private Limited |
30000 |
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R Kay Hosiery Private Limited |
66000 |
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Rottex Merchantile Private Limited |
80000 |
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Santosh Investment Private Limited |
26000 |
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Thirdwave Agencies Private Limited |
40000 |
Equity share breakup (percentage of total equity)
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As on 30.09.2006 |
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Bodies corporate |
95.00 |
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Directors or relatives of directors |
3.00 |
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Other top fifty (50) shareholders |
2.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing of Paper, Board & Paper Products |
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GENERAL
INFORMATION
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Bankers : |
India Exchange
Place Branch, P-35, India Exchange Place, Kolkata, West Bengal 700 001,
India.
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Banking
Relations : |
Satisfactory |
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Auditors : |
Pratap Singh Surana and Company Chartered Accountant 5and 6 Fancy Lane, 6th Floor, Kolkata – 700 001, West
Bengal, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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1500000 |
Equity Shares |
Rs. 10/- each |
Rs. 15.000 millions |
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Total |
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Rs.
15.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1309100 |
Equity Shares |
Rs. 10/-
each |
13.091
millions |
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Total |
|
13.091 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 |
13.091 |
13.091 |
13.091 |
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2] Share Application Money |
101.400 |
66.400 |
13.400 |
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3] Reserves & Surplus |
46.244 |
46.244 |
46.244 |
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4] (Accumulated Losses) |
(15.252) |
(17.317) |
(4.621) |
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NETWORTH |
145.483 |
108.418 |
68.114 |
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LOAN FUNDS |
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1] Secured Loans |
136.523 |
151.428 |
121.873 |
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2] Unsecured Loans |
6.550 |
0.000 |
0.000 |
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TOTAL BORROWING |
143.073 |
151.428 |
121.873 |
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DEFERRED TAX LIABILITIES |
6.938 |
6.272 |
4.745 |
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TOTAL |
295.494 |
266.118 |
194.732 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
210.556 |
204.580 |
151.811 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.447 |
0.447 |
0.147 |
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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 |
30.358
|
26.632 |
29.254 |
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Sundry Debtors |
50.174
|
50.980 |
4.116 |
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Cash & Bank Balances |
0.899
|
2.548 |
7.327 |
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Other Current Assets |
37.500
|
17.098 |
17.705 |
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Loans & Advances |
0.000
|
0.000 |
0.000 |
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Total
Current Assets |
118.931
|
97.258 |
58.402 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
34.198
|
36.246 |
15.776 |
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Provisions |
0.390
|
0.072 |
0.007 |
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Total
Current Liabilities |
34.588
|
36.318 |
15.783 |
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Net Current Assets |
84.343
|
60.940 |
42.619 |
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MISCELLANEOUS EXPENSES |
0.148 |
0.151 |
0.155 |
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TOTAL |
295.494 |
26.118 |
194.732 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
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Sales Turnover |
234.927 |
183.371 |
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Other Income |
0.221 |
0.194 |
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Total Income |
235.148 |
183.565 |
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Profit/(Loss) Before Tax |
3.120 |
(11.097) |
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Provision for Taxation |
0.390 |
0.072 |
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Profit/(Loss) After Tax |
2.730 |
(11.169) |
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Expenditures : |
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Depreciation & Amortization |
12.700 |
11.302 |
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Other Expenditure |
219.328 |
183.360 |
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Total Expenditure |
232.028 |
194.662 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
1.16
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(6.08) |
- |
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Net Profit Margin (PBT/Sales) |
(%) |
1.33
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(6.05) |
- |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.95
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(3.68) |
- |
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Return on Investment (ROI) (PBT/Networth) |
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0.02
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0.10 |
- |
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Debt Equity Ratio (Total Liability/Networth) |
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1.11
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1.49 |
1.89 |
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Current Ratio (Current Asset/Current Liability) |
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3.44
|
2.68 |
3.70 |
LOCAL AGENCY
FURTHER INFORMATION
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Name of the company |
BALAJI PAPER AND NEWSPRINT PRIVATE LIMITED |
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Presented By |
Ritu Agarwal – Director |
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1) Date and description of instrument creating the change |
·
Oral Consent
for Equitable Mortgage on 6.2.04 duly confirmed by Letter of Confirmation
dated 7.2.04 in Form No. F – 379B. ·
Demand
Promissory Note dated 6.2.04 in Form No. F-12 A. ·
Agreement of
Repayment Schedule dated 6.2.04 in Form No. F 378 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Adhoc Demand Loan
– Rs. 15.000 millions Total -
Rs. 15.000 millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Equitable
Mortgage of Land and Building and Godown measuring 3 Bighas, 8 Cottahs, 13
Chittacks and 38 sq Ft (total shed area 18000 Sq Ft) at 37 Akshay Kumar Mukherjee
Road, Holding No. 1196 Ward No. 26, Bara Nagar Municipality, Cossipore, Dum
Dum, P.S. Baranagar, 24 North Parganas. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
ADHOC DEMAND LOAN
has given for payment to Hon’ble High Court for Purchase of Neptune Paper
Mills Limited (in Liquidation) Interest: @
14.25% p.a. compounded on monthly basis Margin: 60% Other Terms and
Conditions: As per sanction letter dated 6.2.04, a copy enclosed. |
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5) Name and Address and description of the person entitled to the charge. |
Indian Overseas
Bank India Exchange
Place Branch, P-35, India
Exchange Place, Kolkata 700 001, West Bengal. |
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6) Date and brief description of instrument modifying the charge |
MODIFICATION ON 12.07.04 A. Documents Executed For Modification ·
Term Loan
Agreement dated 12.07.04 in Form No. F 110C ·
Term Loan
Repayment Agreement dated 12.07.04 in Form No. F 378 ·
Demand
Promissory Note dated 12.07.04 for Term Loan in Form No. F-12 A. ·
Letter of
Hypothecation for Cash Credit dated 12.07.04 in Form No. F 110A. ·
Demand
Promissory Note dated 12.07.04 for Cash Credit in Form No. F-12A. ·
Cash Credit
Repayment Agreement dated 12.07.04 in Form No. F 16 ·
Demand
Promissory Note dated 12.07.04 for Letter of Credit in Form No. F-12A. ·
Letter of
Credit Repayment Agreement dated 12.07.04 in Form No. F 16 ·
Demend
Promissory Note dated 12.07.04 for Letter of Guarantee in Form No. F-12A. ·
General
Counter guarantee dated 12.07.04 in Form No. 286E. ·
Letter of
Hypothecation for securing Machineries / vehicles / Goods / Book Debts dated
12.07.04 in Form No. F 110E. ·
Consent Cum
Authorisation Letter dated 12.07.04. ·
Letter of
Undertaking by Company not to create any further charge over the property and
assets, including uncalled capital dated 12.07.04 ·
Letter of
Confirmation dated 16.07.04 for extention of Equitable Mortgage in Form No. F
379C. ·
Letter of
Confirmation dated 16.07.04 for creation of Equitable Mortgage in Form No. F
379B. B. Amount of Modification ADHOC DEMAND LOAN
has given for payment to Hon’ble High Court for Purchase of Neptune Paper
Mills Limited (in Liquidation) as per sanction letter dated 6.2.04 stands
adjusted from the proceeds of the Term Loan Sanctioned vide sanction Letter
dated 26.06.04 FRESH SANCTION OF
FOLLOWING FUND BASED AND NON FUND
BASED LIMITS:
The overall Limit
is Rs. 160.000 millions vide sanction Letter dated 26.06.04 MODIFICATION ON 21.07.05 A. Documents Executed For Modification Demand Promissory
Note dated 21.07.05 for Cash Credit in Form No. F-12A. ·
Cash Credit
Repayment Agreement dated 21.07.05 in Form No. F 16 ·
Letter of
Hypothecation for securing Machineries / Vehicles / Goods / Book Debts dated
21.07.05 in Form No. F 110E ·
Supplemental
Deed of Hypothecation / Pledge dated 21.07.05 in Form No. F 110F. ·
Letter of
Confirmation dated 25.07.05 for extention of Equitable Mortgage in Form No. F
379C ·
Letter of
Confirmation dated 25.07.05 for extention of Equitable Mortgage in Form No. F
379C B. Amount of Modification Renewal Cum
Enhancement of fund Based and Non Fund Based Limits as follows:
The overall Limit
is enhanced from Rs. 160.000 millions vide sanction Letter dated 26.06.04 to
Rs. 172.500 millions vide sanction letter dated 16.07.05. |
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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. |
MODIFICATION ON 12.07.04 A. Short Particulars of Property Charged: In addition to
the details referred under clause 3 Further: All that Land and
Factory of Balaji Paper and News Print Private Limited as well as Plant and
Machineries, Furniture and Fixtures, Vehicles and Block of Assets of the
Company, Present or Future, as described in the schedule of securities to the
term Loan Agreement to Secure Term Loan
of Rs. 110.000 millions dated 12.07.04 of which they are the absolute
owner to the intent that all such hypothecated property shall be and form
security for the payment of the balance due to the bank from them at any time
or from time to time. All of Raw
Materials, Stock-in-Process, Semi Finished Goods, Finished Goods (including
brought out Finished Goods), Stock of Finished Goods lying with brokers /
Agents awaiting sale and Stock in Transit, Book Debts of related material
which now or hereafter from time to time during the continuance of this
agreement shall brought in, stored or be in or about their premises or godown
at Manik Para, Jhargram, Paschim Medinipur, West Bengal or any other godown
(s) or be in course of transit be hypothecated to the bank for the payment of
the balance due to the bank from them at any time or from time to time for
the Cash Credit (H) loan of Rs. 20.000 millions, Letterof Credit of Rs.
20.000 millions and Letter of Guarantee of Rs.10.000 millions. B. Gist of the Terms and Conditions and
Extent and Operation of the Charge: TERM LOAN ACCOUNT has comprised of Hypothecation of Assets as described in the schedule of
securities to the Term Loan Agreement with the bank for the facilities as
sanctioned to the Company for the secured amount. Margin – 50%on Land and Building and Old Machinery and 25% on New Machinery. Interest - @ BPLR + 3% (14%) Repayment – The loan will be repaid in 20 quarterly
installments from Jan 2005 – Moratorium 6 months from commercial operation date. Security – Prime: First
Charge on Block Assets of the Company, Present or future including the
property in the name of the company situated at 37A, A. K. Mukherjee Road, Kolkata 700 090
valued at Rs. 15.200 millions and the Lease hold Land. Collateral: First
Charge on entire Current Assets of the company will collaterally secure Term
Loan Facilities. Other Terms and Conditions: As per sanction letter dated 26.06.04, a
copy enclosed. CASH CREDIT ACCOUNT against hypothecation of Stocks and Book
Debts up to 90 days has comprised of hypothecation of All of Raw Materials,
Stock-in-process, Semi Finished Goods, Stock of Finished Goods including
Finished Goods lying with brokers / Agents awaiting sale and Stocks in
Transit, Book Debts, both present and future. Margin – 25% on Stocks and 40% on Book Debts up to
90 days. Interest - @ BPLR + 2.50% (13.50%) Security - Prime: First
Charge on all current Assets of the Company. Collateral: First
Charge on Block Assets of the Company, Present or future including the
property in the name of the company situated at 37A, A. K. Mukherjee Road,
Kolkata 700 090 valued at Rs. 15.200 millions and the Lease hold Land will
collaterally secure Cash Credit Facilities. Other Terms and Conditions: As per sanction letter dated 26.06.04, a
copy enclosed. LETTER OF CREDIT (I and F) on DP terms for procuring raw materials Margin – 25% Commission – As per circular in force Security – Document of title to goods and extended charge on current assets. Other Terms and Conditions: As per sanction letter dated 26.06.04, a
copy enclosed, LETTER OF GUARANTEE for issuing in favour of WBSEB for power
bills. Margin – 25% Commission – As per circular in force Security – Counter indemnity of the company and extended charge on current
assets. Other Terms and Conditions: As per sanction letter dated 26.06.04, a
copy enclosed. MODIFICATION ON 21.07.05 A.
A. Short Particulars of Property Charged: In addition to the
details referred under clause 3 Further. All that Land and
Factory Building of Balaji Paper and News Print Private Limited as well as
Plant and Machineries, Furniture and Fixtures, Vehicles and Bolck of Assets
of the Company, Present or Future, as described in the schedule of securities
to the Term Loan Agreement to Secure Term Loan of Rs. 110.000 millions dated
12.07.04 of which they are the absolute owner to the intent that all such
hypothecated property shall be and form security for the payment of the
balance due to the bank from them at any time or from time to time. All of Raw
Materials, Stock-in-Process, Semi Finished Goods, Finished Goods (including
brought out Finished Goods), Stock of Finished Goods lying with brokers /
Agents awaiting sale and Stocks in Transit, Book Debts of related material
which now or hereafter from time to time during the continuance of this
agreement shall brought in, stored or be in or about their premises or godown
at Manik Para, Jhargram, Paschim Medinipur, West Bengal or any other godown
(s) or be in course of transit be hypothecated to the bank for the payment of
the balance due to the bank from them at any time or from time to time for
the Cash Credit (H) loan of Rs. 32.500 millions, Letter of Credit of Rs. 20.000 millions and
Letter of Guarantee of Rs 10.000 millions B. Gist of the Terms and Conditions and
Extent and Operation of the Charge: TERM LOAN ACCOUNT has comprised of Hypothecation of Assets as described in the schedule of
securities to the Term Loan Agreement with the bank for the facilities as
sanctioned to the Company for the secured amount. Margin – 50%on Land and Building and Old Machinery and 25% on New Machinery. Interest - @ BPLR + 1.50% (12.50%) Repayment – The loan will be repaid in 20 quarterly
installments from June 2005. Security – Prime: First
Charge on Block Assets of the Company, Present or future including the
property in the name of the company situated at 37A, A. K. Mukherjee Road, Kolkata 700 090
valued at Rs. 15.200 millions and the Lease hold Land. Collateral: First
Charge on entire Current Assets of the company will collaterally secure Term
Loan Facilities. Other Terms and Conditions: As per sanction letter dated 16.07.05, a
copy enclosed. CASH CREDIT ACCOUNT against hypothecation of Stocks and Book
Debts up to 90 days has comprised of hypothecation of All of Raw Materials,
Stock-in-process, Semi Finished Goods, Stock of Finished Goods including
Finished Goods lying with brokers / Agents awaiting sale and Stocks in
Transit, Book Debts, both present and future. Margin – 25% on Stocks and 40% on Book Debts up to
90 days. Interest - @ BPLR + 1.50% (12.50%) Security - Prime: First
Charge on all current Assets of the Company. Collateral: First
Charge on Block Assets of the Company, Present or future including the
property in the name of the company situated at 37A, A. K. Mukherjee Road,
Kolkata 700 090 valued at Rs. 15.200 millions and the Lease hold Land will
collaterally secure Cash Credit Facilities. Other Terms and Conditions: As per sanction letter dated 16.07.04, a
copy enclosed. LETTER OF CREDIT (I and F) on DP/DA up to 90 days for purchase /
import of raw materials Margin – 25% Commission – As per circular in force Security – Document of title to goods and extended charge on current assets. Other Terms and Conditions: As per sanction letter dated 16.07.05, a
copy enclosed LETTER OF GUARANTEE (Financial /
Performance) Margin – 25% Commission – As per circular in force Security – Counter indemnity of the company and extended charge on current
assets. Other Terms and Conditions: As per sanction letter dated 16.07.05, a
copy enclosed. |
|
Corporate
identity number (CIN) Foreign company registration number |
U87316WB1998PTC087316 |
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|
Name of the
Company |
BALAJI PAPER AND NEWSPRINT PRIVATE LIMITED |
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|
Address |
23 Brabourne Road
Crown, Kolkata, West Bengal 700 001, India |
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|
This form is for |
Modification of
charge |
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|
Type of Charge |
·
Immovable
property ·
Book debts ·
Movable
property (not being pledge) ·
Floating
charge ·
Others |
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|
Particulars of
the charge holder |
Indian Overseas
Bank India Exchange
Place Branch, P-35, India Exchange Place, Kolkata 700 001, West Bengal, India |
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|
Nature or description
of the instrument(s) creating or modifying the charge |
·
F110E
(Letter of Hypothecation for securing Machineries/vehicles/Good/Book Debts)
dated 15.09.2006. ·
F110A
(Letter of Hypothecation) dated 15.09.2006. ·
F379C
(Letter of confirmation for creation of supplemental mortgage). |
||||||||||
|
Date of the
instrument creating or modifying the charge |
15.09.2006 |
||||||||||
|
Amount secured by
the charge |
Rs. 172.000
millions |
||||||||||
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest Cash Credit :
BPLR + 1.50% i.e. 13% (presently). Term Loan : BPLR
+ 1.50% i.e. 13% (presently). Terms of
repayment Repayment of
remaining Term Loan of Rs. 82.500 millions in 15 quarterly installments of
Rs. 5.500 millions each from quarter ending March 2007. Margin Cash Credit : 25%
on Stock and 40% on Book Debts. Letter of Credit
: 15% Letter of
Guarantee : 10% Extent and
operation of the charge 100%. Others Commission : As
per circulars in force. Details of limit
as sanctioned is hereinbelow:-
|
||||||||||
|
Short particulars
of the property charged (including location of the property) |
Cash Credit : 1st
Charge on entire current assets, both existing and future, of the company. Term Loan : 1st
charge on the existing and future Block Assets of the company including
Equitable Mortgage of property at 37A, A. K. Mukherjee Road, Kolkata – 90. Letter of Credit
: Documents of title to goods/accepted bills of exchange and extension of 1st
charge on current assets. Letter of
Guarantee : Counter Guarantee of the company and extension of 1st
charge on current assets. |
||||||||||
|
Particular of the
present modification |
By this
modification the overall limit Rs. 172.500 millions is modified to Rs.
172.000 millions. Primary Security of
one limit will be held as Collateral for the other limits and vice versa. |
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. 42.84 |
|
UK Pound |
1 |
Rs. 84.78 |
|
Euro |
1 |
Rs. 67.32 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|