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MIRA
INFORM REPORT
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Report Date : |
27.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
INSTROMEDIX (INDIA) PRIVATE LIMITED |
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Registered Office : |
Pragati Chaarnbar, A-5/A-6, Ranjit
Nagar Commercial Complex, New Delhi – 110 008 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
28.03.1989 |
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Com. Reg. No.: |
035634 |
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CIN No.: [Company
Identification No.] |
U74899DL1989PTC035634 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELI04550A DELI05089A |
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PAN No.: [Permanent
Account No.] |
AAACI1478H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Marketing, Importing and Supplying of Surgical
Instruments, Medical Equipment and Hospital Supplies. |
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 180000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed company having satisfactory
track. Trade relations are fair. Business is active. Payments are reported as
usually made as per commitments. The company can be considered good for normal business dealings. |
LOCATIONS
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Registered Office : |
Pragati Chaarnbar, A-5/A-6,
Ranjit Nagar Commercial Complex, New Delhi – 110 008, India |
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Tel. No.: |
91-11-25704962, 65, 66, 67, 68 |
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Fax No.: |
91-11-25702368, 25700897 |
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E-Mail : |
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Website : |
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Regional Offices : |
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Branch Office : |
v
W-477, C-Sector, 3rd
Avenue, Anna Nagar, West Extn., Chennai-600 101, Tamil Nadu, INDIA Tel. No. 91-44-6283587/6283573 Fax No. 91-44-6268018 v
Sungold Flat No.1, Plot 303,
Sher-E-Punjab Co-operative Housing Society Limited, Andheri(East), Mumbai,
Maharashtra, INDIA Tel. No. 91-22-821 5122/822
6737 Fax No. 91-22-821 5122 v
1062, Sector-43B,
Chandigarh, Punjab, INDIA Tel. No. 91-172-606009 Telefax 91-172-609743 v
Calcutta, West Bengal,
INDIA Tel. No. 91-33-4735493 Telefax 91-33-4409243 v
392, 1st
Floor, Sboa School Road, Anna Nagar, West Extn., Chennai, Tamil Nadu, INDIA Tel. No. 91-44-6283587 Fax No. 91-44-6268018 v
Shop No.4, 576, Manek
Apartment, Bhawani Shankar Road, Dadar, Mumbai, Maharashtra, INDIA Tel. No. 91-22-4363807 Fax No. 91-22-4363807 v
Ratanalaya, Flat No.3,
170/36, Lake Garden, Calcutta-700 045, West Bengal, INDIA Tel. No. 91-33-4722492 v
SCO 196.197, IIIrd Floor,
Sector 34A, Chandigarh-160 022, Punjab, INDIA Tel. No. 91-172-602699 Fax No. 91-172-609743 v
19/570, Indra Nagar,
Lucknow - 226 016, Uttar Pradesh, INDIA Tel. No. 91-522-342954 Fax No. 91-522-344198 v
No.8, 1st
Floor, First Main Road, KHM Block, R.T. Nagar, Post Ganga Nagar, Banglore-560
032, Karanataka, INDIA Tel. No. 91-80-3431536 v
Pallat Howe, Door No.
XXXVII/2930, Ponoth Road, Kalloor, Ernakulam, Kerala, INDIA Tel. No. 91-484-347573 v
310, Manohar Apartments,
Vidyanagar, Hyderabad - 44, Andhra Pradesh, INDIA Tel. No. 91-40-7608034 Chandigarh : H.NO. 1102, Ist Floor, Sector 34-C Chandigarh - 160 022 Ph :
91-172-3120027 Mobile: 91-9316120027 Fax : 91-172-609743 Email : mittaldeepak@rediffmail.com Guwahati : Jonaki Nagar, 2nd Mathgharia, Guwahati P.O. Noonmati -781020 Mobile: 91-9864050701 Cochin: Rajesh Biju House No.33/1496
Munden Pilly House, Madappat Lane, Vennala P.O. Kochi –6802028 Ph : 91-484 –
2350940, Mobile:
91-9388631606 Email : instro@md3.vsnl.net.in Hyderabad: Plot No. 97, Jawahar Nagar Colony Moula – Ali, Hyderabad - 500
044(A.P.) Mobile : 91-9866103458 Email : gbr_rao@rediffmail.com Bhopal : T – 2, Hira Department, 55 Govind Garden, Raisen Road, Bhopal –
462024. Mobile: 91-9300804076, 9827655070 Email: arunsrana05@yahoo.com Jaipur : 10 Joshi Bagh,
Syeed Ka Gatta, Tong Gate, Tong Road, Jaipur-302018 (RAJASTHAN) Ph: 91-141-2620452, 9314535351 Fax: 91-141-2623861 Email : instro@mantraonline.com Lucknow : 3/37 Ruchi Khand, Part-1, Sharda Nagar, Near Bangla Bazar, Lucknow –
2260012 Ph:91-522-2451059 Mobile: 91-9336920999 Fax: 91-522-2451059 Email : instrolko@id.vsnl.net.in |
DIRECTORS
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Name : |
Mr. Rajpal Singh |
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Designation : |
Director |
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Address : |
EC-2, Inderpuri, New
Delhi, India |
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Date of Birth/Age : |
30.09.1958 |
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Date of Appointment : |
28.03.1989 |
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Name : |
Dr. Tarvinder Bir Singh
Buxi |
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Designation : |
Director |
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Address : |
626, Huda Sector – 15,
Phase – I, Gurgaon |
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Date of Birth/Age : |
07.04.1953 |
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Date of Appointment : |
07.07.2004 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 28.09.2007
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Names of Shareholders |
No. of Shares |
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Rajpal Singh |
494880 |
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Anterpreet Kaur |
24000 |
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Amarpal Singh |
4800 |
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Jaspreet Kaur |
4800 |
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R.P. Singh (HUF) |
800 |
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Tarvinder Bir Singh Buxi |
529280 |
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Total |
1058560 |
As on 28.09.2007
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Directors
or relatives of directors |
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100.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Marketing, Importing and Supplying of Surgical Instruments,
Medical Equipment and Hospital Supplies.
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Agencies Held : |
v
Mortara Instrument, USA v
Physio Control, USA v
Hill Room,USA v
Ciriticare, USA v
Protocol, USA v
Nellcor, USA v
Lohmier, Germany v
Graceby Medical, UK v
Bird Products, USA v
Bard, USA v
Tomtec Imaging, USA v
Fermo, UK v
Pryon, UK |
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Imports : |
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Countries : |
USA, Germany, U.K., Italy
and Brazil |
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Terms : |
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Selling : |
Cash and credit against
L/C on 30 or 60 days term. |
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Purchasing : |
L/C of 30 or 60 days
term. |
GENERAL
INFORMATION
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Suppliers : |
v
Mahajan Sports v
Pardechem Private Limited v
Selected Cargo Services
Private Limited v
Vacuum Instruments
Company Limited v
Vico Scientific Sales
(Private) Limited v
Metro Scientific and
Chemicals v
Bristol India v
Anandsons Industries v
Ferno International v
Hindustan Sales v
Instrumentation
Labotaries v
Nellcor Puritan Bennett v
Protocol Systems v
Pacific Technologies,
Ahmedabad, Gujarat, India |
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Customers : |
v
A.F.M.C. Pune v
B.R.S. heart Institute v
Batra Hospital, Delhi,
India v
Cecil Pharmaceuticals v
Command Hospital, Assam,
India v
D.G.A.F.M.S. v
Deen Dayal Upadhyay
Hospital v
Delhi Sikh Gurdwara
Management v
G. B. Pant Hospital v
Government Medical
College, Chandigarh, Punjab, India v
H. P. India Limited v
Indraprastha Apollo
Hospital v
I.N.M.A.S. v
K. G. Medical College,
Lunknow, Uttar Pradesh, India v
L.H.M.C. v
Metro Scientific &
Chemicals v
Metro Hospital v
National Heart Institute v
P. G. I. Chandigarh,
Punjab, India v
Rajendra Hospital,
Patiala, Punjab, India v
R. M. L. Hospital v
S. M. S. Hospital, Jaipur,
Rajasthan, India v
S. P. M. Hospital,
Lucknow, Uttar Pradesh, India v
Govt. Stanley Hospital v
Thulasi Nursing Home v
Govt. General Hospital v
Jipmer, Pondicherry,
Tamil Nadu, India v
Medical College, Trichur v
B.M. Patil Hospital v
Biomedics v
Infant Jesus Mat. Hospital v
Jipmer, Pondicherry,
Tamil Nadu, India v
Kovai Medical Centre v
Sri Ramachandra Hospital,
Chennai, Tamil Nadu, India v
Surendran R. DR. v
Sevekshetra Hospital,
Bangalore, Karnataka, India v
SKS Hospital, Salem v
V.S.M. Hospital, Kerala,
India v
Cegelec India Limited v
Crown Scientific &
Surgical |
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No. of Employees : |
97 |
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Bankers : |
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Facilities : |
Secured Loans :
Unsecured Loans :
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Sunita and Chadha Chartered Accountants |
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Address : |
Flat No.77, Bhagat Singh Market, New Delhi – 110 001,
India |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1250000 |
Equity Shares |
Rs.10/- each |
Rs.12.500 millions |
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Issued Capital :
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No. of Shares |
Type |
Value |
Amount |
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1250000 |
Equity Shares |
Rs.10/- each |
Rs.12.500
millions |
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Subscribed, Called-up & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1058560 |
Equity Shares |
Rs.10/- each |
Rs.10.586 millions |
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Includes 1036340 shares of Rs.10/- each fully paid up allotted as bonus
shares by capitalization of General reserves.
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
10.586 |
10.586 |
10.586 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
25.564 |
23.715 |
21.845 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
36.150 |
34.301 |
32.431 |
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LOAN FUNDS |
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1] Secured Loans |
20.943 |
18.965 |
12.671 |
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2] Unsecured Loans |
34.007 |
32.883 |
31.781 |
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TOTAL BORROWING |
54.950 |
51.848 |
44.452 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.105 |
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TOTAL |
91.100 |
86.149 |
76.988 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
8.787 |
9.988 |
9.824 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.183 |
0.032 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
29.720
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41.957 |
38.808 |
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Sundry Debtors |
58.342
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48.318 |
36.944 |
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Cash & Bank Balances |
10.286
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10.954 |
10.768 |
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Other Current Assets |
0.161
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0.172 |
0.000 |
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Loans & Advances |
15.743
|
10.589 |
11.675 |
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Total
Current Assets |
114.252
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111.990 |
98.195 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
29.075
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34.562 |
28.979 |
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Provisions |
3.047
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2.652 |
2.052 |
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Total
Current Liabilities |
32.122
|
37.214 |
31.031 |
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Net Current Assets |
82.130
|
74.776 |
67.164 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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Goods in Transit |
0.000 |
1.353 |
0.000 |
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TOTAL |
91.100 |
86.149 |
76.988 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
94.993 |
106.730 |
67.004 |
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Other Income |
19.836 |
12.555 |
11.364 |
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Total Income |
114.379 |
119.285 |
78.368 |
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Profit/(Loss) Before Tax |
3.978 |
4.023 |
3.324 |
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Provision for Taxation |
2.129 |
2.153 |
1.343 |
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Profit/(Loss) After Tax |
1.849 |
1.870 |
1.981 |
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Expenditures : |
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Cost of Goods Sold |
65.157 |
70.537 |
37.335 |
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Office and Administrative Expenses |
19.875 |
18.762 |
15.235 |
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Financial Expenses |
4.226 |
7.632 |
7.151 |
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Personnel Expenses |
16.714 |
12.994 |
11.566 |
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Sale and marketing expenses |
2.456 |
3.325 |
1.918 |
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Depreciation & Amortization |
1.973 |
2.012 |
1.839 |
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Total Expenditure |
110.401 |
115.262 |
75.044 |
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KEY RATIOS
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
1.62
|
1.57 |
2.53 |
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Net Profit Margin (PBT/Sales) |
(%) |
4.19
|
3.77 |
4.96 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.23
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3.30 |
3.08 |
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Return on Investment (ROI) (PBT/Networth) |
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0.11
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0.12 |
0.10 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.41
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2.60 |
2.33 |
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Current Ratio (Current Asset/Current Liability) |
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3.56
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3.01 |
3.16 |
LOCAL AGENCY
FURTHER INFORMATION
business
The company is engaged in marketing, importing and supplying of Surgical Instruments, Medical Equipment and Hospital Supplies. The company is reported representing several foreign companies as their exclusive dealer in India. They are engaged in as manufacturer of Thermal Recording Paper, Recording Chart Paper for various medical and industrial recorders and medical equipment.
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Name of the company |
INSTROMEDIX (INDIA) PRIVATE LIMITED |
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Presented By |
Canara Bank |
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1) Date and description of instrument creating the change |
Agreement
regarding collateral security machinery and vehicles dated 08.12.2003 and registered
on 07.01.2004. Modified on 27.04.2005 and registered on 27.05.2005. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.7.500 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 |
All Plant,
machinery, tools, accessories and motor vehicles already purchased / to be
purchased and more particularly described in schedule A and stored at
premises at Pragati Chaarnbar, A-5/A-6,
Ranjit Nagar Commercial Complex, New Delhi and Khasra No.84, Khori, Ropadi,
District Sanganoor, Jaipur or at any other place wheresoever including those
in transit. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
The above is to
secure FLC (DP) limit of Rs.7.500 millions with interest @ 5.5% p.a. over
ongoing PLR with minimum of 16.5% p.a. or at such other rates as may be
specified by Bank from time to time. |
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5) Name and Address and description of the person entitled to the charge. |
Canara Bank,
Janpath, New Delhi |
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6) Date and brief description of instrument modifying the charge |
Common
hypothecation agreement and hypothecation agreement of goods and book debts
both dated 03.01.2006. |
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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. |
FLC DA/ DP limit
stands enhanced from Rs.7.500 millions to Rs.15.000 millions which is secured
against all the stocks and book debts and collaterally secured by all the
plant and machineries including office equipment, computer, furniture and
fixture, building and office flats etc is now covered with common
hypothecation agreement executed by the company on 03.01.2006. Other terms
and conditions remaining unchanged. |
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This form is for |
Creation of
charge |
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Corporate
identity number of the company |
U74899DL1989PTC035634 |
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Name of the
company |
INSTROMEDIX (INDIA) PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
Pragati Chaarnbar, A-5/A-6,
Ranjit Nagar Commercial Complex, New Delhi – 110 008, India |
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Type of charge |
Book Debts Movable Property |
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Particular of
charge holder |
Canara Bank, 74
Janpath, New Delhi – 110 001, India E-Mail: lks_123sharma@hotmail.com |
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Nature of description
of the instrument creating or modifying the charge |
Deed of
Hypothecation regarding machinery and Supplemental common hypothecation
agreement. |
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Date of
instrument Creating the charge |
17.01.2008 |
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Amount secured by
the charge |
Rs.5.000 millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest:
BPLR+2% presently 15.25% p.a. compounded monthly or at such other rates as
may be specified by the bank from time to time. Terms of
Repayment: Repayable in 20 quarterly installment of Rs.0.250 million
commencing from 17.04.2008. Margin: As per
sanctioned terms. Extent and
Operation of the charge: 100% Others: The above
is to secure term loan of Rs.5.000 millions. |
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Short particulars
of the property charged |
All plant and
machinery, furniture, fixtures, electrical installation etc., and fully
equipped demo ambulances proposed to be purchased out of term loan (costing
project Rs.7.140 millions) installed at Plot No.543T, Sector-37, Paci City –
II, Gurgaon and coll. Security of entire inventory of raw materials, traded
goods, consumable stores and spares stored (31.12.07 Rs.37.690 millions) and
book debts (on 31.12.07 Rs.42.095 millions) and Plant and machinery, building,
office flat etc. (Rs.6.655 millions as per ABS 31.3.07) |
For the year, the financial results shows a profit of Rs.1.849 millions
after making provision for depreciation of Rs.1.973 millions and direct taxes of
Rs.2.129 millions (income tax, fringe benefit tax and deferred tax) as compared
with the previous year profit of Rs.1.870 millions after making provision for
depreciation of Rs.2.012 millions and direct taxes Rs.2.153 millions (income
tax, fringe benefit tax and deferred tax). During the year the company made a
total turnover of Rs.94.993 millions and earned other income of Rs.106.730
millions and other income of Rs.12.555 millions. The overall working of the
company is satisfactory.
FIXED ASSETS:
- Plant and Machinery
- Furniture and Fixture
- Office Flat
- Vehicles
- Computers
- Cycle
- Buildings
WEBSITE DETAILS:
The guiding philosophy with Instromedix has been to identify
latest, cutting edge technologies from all over the world, understand its relevance
to Indian market and help the users in India with its acquisition, applications
and maintenance. Instromedix has over the years resisted the temptation and
commercial security of associating with huge multi-product corporations
and has instead focused on Single
Product Technology Driven Companies who can afford to have
focus on continued development of a particular modality.
Instromedix is, thus, a single window provider of Medical products in India
where the advantages of state of art technology is provided to users in each
and every product. The list of Principals that Instromedix represents
exclusively in India illustrates the point.
Hamilton, Switzerland : World leaders over decades for Ventilators.
Medtronic Physio Control, USA : World Leader for Defibrillators / Monitors who
invented the first external Defibrillator 40 years ago.
Delmar Reynolds - Over 40 years old company focussed in design and development
of Cardiac Products like Stress Test Systems, Holter Systems, ECG Machines,
Event/ABP Monitoring systems.
Norav: Company
Dealing with stress test system and Ambulatory BP system.
Weinmann, Germany - The only company in the world that understands need of
handling Emergencies and provides total Emergency Solutions for Ventilation,
oxygen inhalation, suction etc.
Resmed (SAIME)
- They market Helia - 2 and ELISEE range of ventilators from Resmed.
Mindray - Complete range of Multi parameter
monitors, Central monitoring systems and Anaesthesia machine.
Scottcare - An internationally leaders dealing in
Cardiac Rehab systems and ECP systems.
Cardiovascular lab- company dealing in cardiovascular lab
With
its head office in New Delhi, Instromedix operates through its Regional offices
at New Delhi, Kolkata, Mumbai, and Chennai with Branch Offices at Chandigarh,
Jaipur, Lucknow, Bhopal, Hyderabad, Bangalore, Guwahati, Jammu and Cochin.
Staffed with more than 100 employees, majority of which comprises of Engineers,
each Office is providing Sales and After Sales Support for all product
lines. Instromedix also has a network of dealers to help its operations to
enhance reach.
A
team of highly experienced product managers in the field of Cardiology,
Emergency, Respiratory and Pre-Hospital Emergency Care provide product
applications and clinical support to the valued customers.
Instromedix has recorded Positive Growth over all its years of
Operations. With its current Sales Revenue at 6 Million USD, the real indicator
of its success is the ever growing installations base in all major Medical
Establishments in India.
MARKET
REPRESENTATION:
Calling out to
Medical Equipment Technology Companies
Instromedix with its commitment to provide latest, cutting edge technology products
to Medical Equipment users in India, is always eager to explore the possibility
of association with technology leaders across the globe. In return, it provides
the manufacturers ready made possibility to participate in the huge market
potential of India.
Instromedix
is seeking partnership with Medical Equipment manufacturers having :
- State of the art technology products.
- Products that have clinical and
economical relevance in India.
- Long term plans of exploring and
serving the India market.
Instromedix offers the following to its partners in India :
- Nation wide organizational support
to promote the products
- Individual product focus through
product dedicated marketing team.
- High level of professional
reputation and goodwill with the medical fraternity
- High quality after sales and
applications support.
Join hands with them to participate in Large and fast growing markets of
India and achieve the goals in Shortest possible time.
Highlights of the Indian Medical Environment:
- Number of Hospitals in India has
doubled in India in last ten years.
- Bed Capacity has doubled in last ten
years.
- Total Health expenditure has grown by
40 times in last 40 years.
- Total number of Hospitals is 11,174 out
of which 57% are in private sector.
- Total Health Care Industry is 1030000
millions (5.2% of GDP)
- Pharma Contributes 170000 millions and
Healthcare delivers about 860000 millions.
- Govt. spending on Healthcare is 170000
millions and Private Industry spends 690000 millions.
- India does not even meet 1/3rd of
Healthcare Standards set by WHO.
- The Private spending in Healthcare is
expected to grow to 1560000 millions by 2012 whereas Government spending
may raise to 380000 millions by the year 2012.
- Total number of beds are expected to
grow from 1500,000 (2001) to 2250,000 (2012).
- By 2012 Healthcare Industry will be 8%
of GDP and will give employment opportunities to 9 Million People.
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.49.85 |
|
UK Pound |
1 |
Rs.76.60 |
|
Euro |
1 |
Rs.64.68 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
48 |
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 |
|