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MIRA
INFORM REPORT
|
Report Date : |
26.05.2008 |
IDENTIFICATION
DETAILS
|
Name : |
OIL AND GAS PLANT ENGINEERS (INDIA) PRIVATE LIMITED |
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Registered Office : |
108, Chiranjiv Tower 43, Nehru Place New Delhi-110019 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Year of Establishment: |
02.02.1993 |
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Com. Reg. No.: |
55-51967 |
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CIN No.: [Company
Identification No.] |
U74899DL1993PTC051967 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
RTKO00811G |
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PAN No.: [Permanent
Account No.] |
AAAF04847R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Supplier and Exporter of LPG Pumps, LPG Compressors, LPG
Dispensers and other engineering goods. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 90000 |
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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 company having satisfactory track
record. Directors are reported as experienced, responsible and respectful
businessman. Their 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 at
usual trade terms and conditions. |
LOCATIONS
|
Registered Office : |
108, Chiranjiv Tower 43, Nehru Place New Delhi-110019, India |
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Tel. No.: |
91-11-26427233 / 26447007 / 26482594 |
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Fax No.: |
91-11-26482593/ 26447007 |
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E-Mail : |
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Website : |
DIRECTORS
|
Name : |
Mr. Onkar Chadha |
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Designation : |
Whole Time Director |
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Address : |
452 / 14, Faridabad, Haryana-121007 |
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Date of Birth/Age : |
02.06.1945 |
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Date of Appointment : |
02.02.1993 |
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Name : |
Mr. Vivek Madav |
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Designation : |
Whole Time Director |
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Address : |
C-32, Shivalik, Near Malviya Nagar, New Delhi- 110012 |
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Date of Birth/Age : |
28.08.1959 |
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Date of Appointment : |
02.02.1993 |
KEY EXECUTIVES
|
Name : |
Mr. Paritosh K. Deb |
|
Designation : |
Company Secretary |
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Address : |
487, 1st Floor, Hanuman Mandir Road, Chirag Delhi, New
Delhi – 110017, India |
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Mobile : |
91-9871851286 |
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Email : |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2005)
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Vivek Madav |
|
100000 |
|
Mr. Onkar Chadaa |
|
100000 |
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|
|
|
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Total |
|
200000 |
(As on 30.09.2007)
|
Category |
|
Percentage |
|
Directors or Relatives of Directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Supplier and Exporter of LPG Pumps, LPG Compressors, LPG Dispensers
and other engineering goods. |
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Imports : |
|
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Around 250 |
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Bankers : |
· Canara Bank 36- Community Centre, East of Kailash, New Delhi- 110065, India · ABN Amro Bank · HDFC Bank |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Surender and Associates Chartered Accountant |
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Address : |
Sector 7A/113, Faridabad, Haryana-121001, India |
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Associates/Group Companies : |
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CAPITAL STRUCTURE
As on 29.09.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs. 10/- each |
Rs. 5.000 Millions |
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|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs. 10/-
each |
Rs. 2.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2.000 |
2.000 |
2.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
20.789 |
15.115 |
11.856 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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|
NETWORTH |
22.789 |
17.115 |
13.856 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1.951 |
3.060 |
2.426 |
|
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2] Unsecured Loans |
3.400 |
1.500 |
0.000 |
|
|
TOTAL BORROWING |
5.351 |
4.560 |
2.426 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
|
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TOTAL |
28.140 |
21.675 |
16.282 |
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|
|
|
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APPLICATION OF FUNDS |
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|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
11.140 |
9.605 |
8.980 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
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INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
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Inventories |
4.846
|
5.925 |
1.444 |
|
|
Sundry Debtors |
27.295
|
21.178 |
7.501 |
|
|
Cash & Bank Balances |
4.756
|
1.595 |
3.753 |
|
|
Other Current Assets |
10.832
|
6.827 |
3.592 |
|
|
Loans & Advances |
0.000
|
0.000 |
0.000 |
|
Total
Current Assets |
47.729
|
35.525 |
16.290 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
30.729
|
23.455 |
8.988 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
30.729
|
23.455 |
8.988 |
|
|
Net Current Assets |
17.000
|
12.070 |
7.302 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
28.140 |
21.675 |
16.282 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2007
|
31.03.2006 |
|
Sales Turnover |
|
177.248 |
87.499 |
|
Other Income |
|
0.000 |
0.000 |
|
Total Income |
|
177.248 |
87.499 |
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
5.315 |
2.580 |
|
Provision for Taxation |
|
0.468 |
0.000 |
|
Profit/(Loss) After Tax |
|
4.847 |
2.580 |
|
|
|
|
|
|
Total Expenditure |
|
171.933 |
84.919 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2007
|
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
2.73
|
2.95 |
NA |
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|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.99
|
2.95 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
9.03
|
5.72 |
NA |
|
|
|
|
|
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.23
|
0.15 |
NA |
|
|
|
|
|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
1.58
|
1.64 |
0.82 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.55
|
1.51 |
1.81 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8:
|
Name of the company |
OIL AND GAS PLANT
ENGINEERS (INDIA) PRIVATE LIMITED |
|
Presented By |
Canara Bank |
|
1) Date and description of instrument creating the change |
Hypothecation Agreement
of Goods and Book Debts dated: 14.01.2006 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 16.500
Millions |
|
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 |
a) All the goods
and commodities or any other Goods acceptable to the Bank purchased,
acquired, received under said credit facilities now lying or hereafter stored
at the godowns, yards and premises of the borrower or lying at any other
place wheresoever. b) All the book
debts, outstandings, money receivables, claims and bills arising out of the
sale, disposal of the goods received under said credit facilities which are
now due and owing and which may at any time during the continuance of this
security becomes due and owing to he borrower in the course o f its business
by any persons, firms, company or by the Government or any local body or
authority. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
The above is to
secure Total Credit facilities of Rs. 16.500 Millions and OD (Clean) Limit of
Rs. 15.000 Millions together with such interest, costs, charges at such rates
as may be specified by the Bank from time to time. |
|
5) Name and Address and description of the person entitled to the charge. |
Canara Bank, East
of Kailash, New Delhi |
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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 |
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U74899DL1993PTC051967 |
|
Name of the
company |
OIL AND GAS PLANT
ENGINEERS (INDIA) PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
108-109, Chiranjiv Tower 43, Nehru Place New Delhi-110019 |
|
Type of charge |
Immovable
Property Others |
|
Particular of
charge holder |
Canara Bank, 36-
Community Centre, East of Kailash, New Delhi, Delhi-110065, India |
|
Nature of
description of the instrument creating or modifying the charge |
Letter of
Undertaking |
|
Date of instrument
Creating the charge |
12.03.2008 |
|
Amount secured by
the charge |
|
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As may be
specified by the bank from time to time. Terms of Repayment As per Agreement Margin As per Agreement Extent and Operation of the charge 100% to secure
credit facilities up to Rs. 51.500 Millions such as OD Clean of Rs. 15.000
Millions and BG of Rs. 50.000 Millions |
|
Short particulars
of the property charged |
Negative Line of
office premises at Flat No. 109, 1st Floor, Chiranjivi Tower,
43-Nehru Place, New Dehi, admeasuring 703 sq. ft. owned by the company. |
TOTAL ENGINEERED SOLUTIONS – JUST FOR YOU
- Mounded/Underground
and Overground Propane/LPG Bulk Storage & Distribution Systems for
base load and oil replacement.
- LPG Auto Gas
Dispensing Stations and Dispensing Equipments. They have setup more than
35 ALDS Stations for Large Companies like IOCL, HPCL, BGL, Super Gas etc.
- Petroleum
products Bulk Storage Facilities complete with Heat Tracing Systems.
- Standby
Propane-LPG/Air Plants for replacement/curtailment of Natural, town and
manufactured gas.
- Peak shaving Propane-LPG/Air
Plants to handle peak load energy requirements.
- LPG and
Ammonia Bottling Plants, Carousels & other equipments.
- Natural/manufactured
gas Pressure Reduction & Metering Stations.
- Loading/Unloading
Arms for LPG/Propane, Petroleum Products and other wide ranging
applications.
- Floating Roof
Sealing and Tank Farm Inventory Management Systems.
- Safety
devices such as, Flash Back Arrestors, Breather Valves etc.
- Coal Bed
Methane Compressor Packages and V-cone Differential Pressure Meters.
- Special
Purpose Gas Valves.
- Piping
Systems custom engineered to meet the requirement of commercial and
industrial consumers with or without Heat Tracing.
- In addition,
OGPE also designs, supplies and erects "Commodity Items", such
as the Pressure Vessels & Heat Exchangers, Unloading & Transfer
Pumps and Compressors etc. for Gas & Oil Distribution, Tailor made
speciality fabrication jobs in CS, AS, SS etc.
They at OGPE also provide design, start up & trouble shooting services,
periodic inspection & tests of Storage Systems and Safety Relief Valves in
the above area of operation under Static and Mobile Pressure Vessels Rules
(SMPV(U)) and Petroleum Rules.
NEWS:
Subject is an Engineering, Procurement & Construction (EPC)
Company incorporated in early 1985 by technocrats with long experience in Heavy
Engineering Industry catering to the needs of Hydrocarbon Sector in India and
overseas.
They are primarily involved in the supply of process
equipmentss and turnkey systems relating to all your gaseous and liquid energy
requirements. Here, they include Propane/LPG/Natural/Manufactured gases and the
full range of liquid petroleum products. Such systems are required by a very
wide spectrum of Industry, such as, Hospitality &. Food Processing, Metal
forming & Automobiles, Glass & Ceramics, Chemicals & Textiles,
Electricals & Electronics besides many others including the Oil & Gas
Sector.
They at OGPE provide sales and engineering services to these
and other industries with specialist equipments and process plants. Since their
formation, growth has been significant and today they can boast of having setup
more than 100 Propane/LPG turnkey facilities throughout the length and breadth
of the country.
OGPE's extensive experience built up all these times ensures
that customer's needs are identified and catered for with addition to plant and
equipments performance. All this offers original, cost beneficial solution as
theyll as providing on-going services, for total customer support at all stages
during and after contract completion.
OGPE is indeed proud to be associated with several reputed
international manufacturing companies to bring latest technology and wide
ranging 'State of Art' equipmentss for all your needs in Oil & Gas,
Petroleum & Petrochemicals, and other core and Infrastructure Sector
Industries.
SOME
OF OUR PRESTIGIOUS ACCOUNTS
1)
High
Pressure Propane Delivery System for Captive Power Generation for Oberoi Group
of Hotels - First ever in India and Second time in the world.
2)
LPG
Bottling Plant 7000 MTPA for Himalayan Petro, Nepal.
3)
20,000
SM3/Hr. Coke Oven Gas Pressure Reduction and Metering Station for Greater
Calcutta Gas Supply Corporation, Calcutta.
4)
Over
100 LPG/Propane System on turnkey basis - Reference List on request.
5a) Propane Autogas Dispensing Stations for Super Gas - First
ever in India.
5b) Large Number of
Autogas Stations for IOCL, HPCL, BGL etc.
6) Special purpose Propane Gas Start-up Facility for Dabhol Power Corporation, Maharashtra.
7) CNG and LPG Conversion Kits complete with Cylinders and Accessories.
8) In-situ conversion from LPG to propane Storage Facilities for Philips India.
9) High Pressure LPG/Air Mixing Standby Systems for Natural Gas Replacement.
- Videocon
-
Samtel
- JCT
Electronics
-
Samcor
10) 8x70 MT Propane Storage alongwith 6,000 Kgs/Hr. vaporisation
systems for Jindal Strips Ltd., Hissar.
11)
Skid
Mounted Pressure Reduction and Gas Metering Stations for several Industrial
Units connected to
Piped Natural Gas Network.
12)
Petroleum
Product Storage and Transfer Systems complete with heat Tracing/Insulation etc.
for Bilt-Owen (I) Ltd.
13)
Supply
of Heat Exchangers, pressure Vessels and other Stationary process Equipment's
for wide process Industry.
OUR
OVERSEAS PRINCIPALS WITH BRIEF PRODUCT RANGE
|
M/s. Algas - SDI USA |
LPG/Propane
Vaporisers, LPG-Air Mixers, Calorimeters and Booster Pumps etc. |
|
M/s. Blackmer USA |
'State
of Art' Air cooled Non Lubricated Compressor and Sliding Vane Pumps for
LPG/Propane/Ammonia and several other Gases. |
|
M/s. Continental Industries S.A. France |
Packaged
Blowers and Exhasters for wide range of gases. |
|
M/s. FAS Germany |
LPG
Dispensers LPG
LoadingArms Entire
Range of Equipment's for LPG/Propane Storage and Bottling plants. |
|
M/s. Elster A.G. Germany |
Regulators,
Meters and complete PRS & MS for Natural and several other Gases. |
|
M/s. Bevilacqua Costruzioni Impianti S.P.A |
Complete
LPG Bottling Plants, Carousles and stand Alone Equipments for Cylinders
Filling and Testing. |
|
M/s. Elmac UK |
Flame
Arrestors, Breather Valves. |
|
M/s. Petroleum Seals & Systems Ltd., UK |
Primary
and 'State of Art' Secondary Seals for Floating Roof Tanks and Roof Drainage
Systems. |
|
M/s. Aqua Gas Valves UK |
Pipe
Repair clamps. Flange Adapter, Underpressure Tees, couplings, Misc. Fittings,
underpressure Drilling Machines and special purpose valves. |
|
M/s. Donkin Valves |
Special
Purpose Large Diameter Wedge, Gate, parallel Slide and Butterfly Valves and
special design Ball and Plug Valves. |
|
M/s. Howden Process Compressor, UK |
Centrifugal
Blowers, Reciprocating Compressors and Roots Blowers for a very range of
gases. |
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 |
YES |
|
--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 |
|