MIRA
INFORM REPORT
|
Report Date : |
06.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
WORLDWIDE SAFETY PRIVATE LIMITED |
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Registered
Office : |
5A, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
16.03.2000 |
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Com. Reg. No.: |
21–091406 |
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Capital
Investment / Paid-up Capital : |
Rs.20.438 Millions |
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CIN No.: [Company Identification
No.] |
U72200WB2000PTC091406 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
CALW02249C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Leather Goods. |
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No. of Employees
: |
260 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
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 582000 |
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Status : |
Satisfactory |
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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. Business is active. Payments are reported as
usually made as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Amit Agarwal |
|
Designation : |
Accounts Manager |
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Contact No.: |
91-9331759519 |
LOCATIONS
|
Registered Office : |
5A, |
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Tel. No.: |
91-33-22872687 / 22871050 |
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Fax No.: |
91-33-22873040 |
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E-Mail : |
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Website : |
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Location : |
Rented |
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Factory 1 : |
Govind Pur, Post Mahesh Tala, |
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Location : |
Rented |
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Factory 2 : |
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Location : |
Owned |
DIRECTORS
As on 16.09.2010
|
Name : |
Mr. Prashant Tulsyan |
|
Designation : |
Director |
|
Address : |
5A, |
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Date of Birth/Age : |
24.03.1966 |
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Date of Appointment : |
16.03.2000 |
|
DIN : |
00452506 |
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|
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|
Name : |
Mr. Prawal Tulsyan |
|
Designation : |
Director |
|
Address : |
5A, |
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Date of Birth/Age : |
10.12.1970 |
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Date of Appointment : |
16.03.2000 |
|
DIN : |
00438183 |
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|
Name : |
Mr. Fabric Lebon |
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Designation : |
Director |
|
Address : |
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Date of Appointment : |
16.03.2000 |
|
DIN : |
02579362 |
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|
Name : |
Mr. Sanjay Kumar Mundra |
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Designation : |
Director |
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Address : |
334/157, |
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Date of Birth/Age : |
31.07.1973 |
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Date of Appointment : |
01.01.2004 |
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|
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|
Name : |
Mr. Philippe Lebon |
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Designation : |
Director |
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Address : |
57 Ter Rue, D Angleterre 59870 |
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Date of Birth/Age : |
31.08.1965 |
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Date of Appointment : |
16.03.2000 |
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Date of Ceasing : |
28.12.2009 |
KEY EXECUTIVES
|
Name : |
Mr. Amit Agarwal |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 16.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Prashant Tulsyan |
|
510954 |
|
Prawal Tulsyan |
|
510954 |
|
Fabrice Lebon |
|
40880 |
|
Lebon Protection |
|
981028 |
|
Total |
|
2043816 |
As on 16.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Leather Goods. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
260 [Approximately] |
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Bankers : |
Canara Bank, Overseas Branch, |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
G.P. Agrawal and Company Chartered Accountants |
|
Address : |
7A, |
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|
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Associates/Subsidiaries : |
Ř
Tulsyan Impex Private Limited Ř
P.T. Impex Ř
P.T. Computers Private Limited Ř
P.T. Enterprises Private Limited |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,500,000 |
Equity Shares |
Rs.10/- each |
Rs.25.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,043,816 |
Equity Shares |
Rs.10/- each |
Rs.20.438
Millions |
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|
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
20.438 |
20.438 |
20.438 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
125.087 |
116.785 |
115.347 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
145.525 |
137.223 |
135.785 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
76.455 |
94.036 |
64.615 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
76.455 |
94.036 |
64.615 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
221.980 |
231.259 |
200.400 |
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
84.467 |
93.463 |
37.221 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
54.451 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
109.708
|
124.088
|
86.088
|
|
|
Sundry Debtors |
3.680
|
1.286
|
19.567
|
|
|
Cash & Bank Balances |
13.064
|
10.087
|
10.531
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
37.201
|
27.967
|
25.182
|
|
Total
Current Assets |
163.653
|
163.428
|
141.368
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
12.749
|
16.129
|
|
|
Other Current Liabilities |
|
2.591
|
9.274 |
|
|
Provisions |
16.938
|
10.300
|
7.254
|
|
Total
Current Liabilities |
26.140
|
25.640
|
32.657
|
|
|
Net Current Assets |
137.513
|
137.788
|
108.711
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.008 |
0.017 |
|
|
|
|
|
|
|
|
TOTAL |
221.980 |
231.259 |
200.400 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
221.243 |
278.378 |
|
|
|
Other Income |
|
NA |
1.134 |
|
|
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TOTAL |
|
NA |
279.512 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
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|
Office Expenses |
|
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Administrative Expenses |
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Advertising Expenses |
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|
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TOTAL |
|
NA |
220.361 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
NA |
59.151 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
-- |
6.838 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
22.830 |
52.313 |
|
|
|
|
|
|
|
|
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EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
|
211.514 |
266.873 |
|
|
TOTAL EARNINGS |
|
211.514 |
266.873 |
|
|
|
|
|
|
|
|
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IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
117.041 |
141.092 |
|
|
|
Stores & Spares |
|
7.030 |
9.594 |
|
|
|
Capital Goods |
|
5.383 |
37.176 |
|
|
TOTAL IMPORTS |
|
129.454 |
187.862 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
11.17 |
25.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
NA
|
NA
|
18.72 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA |
NA |
21.25 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
NA
|
33.12 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
NA
|
0.44 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.70
|
0.87
|
0.72 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
6.26
|
6.37
|
4.33 |
LOCAL AGENCY FURTHER INFORMATION
Form 8
|
Corporate
identity number of the company |
U72200WB2000PTC091406 |
|
Name of the
company |
WORLDWIDE SAFETY PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
5A, E-Mail: worldwidesafety@hotmail.com |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90248061 |
|
Type of charge |
Immovable
Property Book Debts Movable Property |
|
Particular of
charge holder |
Canara Bank, Overseas Branch, E-Mail: managerkolk1856@canbank.co.in |
|
Nature of description
of the instrument creating or modifying the charge |
a) Supplemental
Common Hypothecation Agreement b) Letter of
Renewal (NF-493) c) Letter
Evidencing re-deposit of Title deeds with Schedules A and B |
|
Date of
instrument Creating the charge |
26/06/2010 |
|
Amount secured by
the charge |
216000000 |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: Minimum @
9.5%(floating) per annum with monthly rests Terms of
Repayment: Repayable on
demand Margin: For PC and
FLC(DA/DP)-10% and For FDB/FBE-Nil Extent and
Operation of the charge: Exclusive First
charge in favour of Canara Bank (a) by way of hypothecation of all the
present and future stocks and book debts of the Borrower as Prime security
and (b) by way of hypothecation of all the Plant and machinery of the
Borrower and (c) Equitable mortgage by deposit of title deeds of immovable
property of the Borrower as Collateral security for Overall limit of
Rs.216.000 millions granted by the Bank (comprising of PC-Rs.84.000 millions
and FDB/FBE-Rs.72.000 millions and FLC(DA/DP)-Rs.60.000 millions) Others: As per Original
Charge dated 30.08.2000 and subsequent modifications thereto and as per
sanction memo dated 17/06//2010 |
|
Short particulars
of the property charged |
Hypothecation by
way of Exclusive First charge in favour of Canara Bank all the stock of raw
materials, W.I.P. and finished goods, stores etc. meant for export located at
the Borrower's premises at Unit I Gobindapur, Budge Budge Road, Maheshtala,
24 Parganas (South) and at Unit II -2 B.C. Roy Road, 24 Parganas (South) or
wherever else the same may be as Prime security. Hypothecation by
way of Exclusive First charge in favour of Canara Bank all the Plant and Machinery of the Borrower
Unit I Gobindapur, Budge Budge Road, Maheshtala, 24 Parganas (South) and at
Unit II - 2 B.C. Roy Road, 24 Parganas (South) or wherever else the same may
be as Collateral security. Equitable
mortgage by way of deposit of 4 Nos. Title Deeds specified in the Schedule A
to the LETD dated17.03.2008 relating to Land admeasuring 7 Bighas,18 Cottahs,9Chittacks bearing
JLNO.71,RS No.233 Touzi No.37, 49, 63, 64 and 68 located at 2, Dr. B.C. Roy
Road,Kolkata-700151 under Rajpur-Sonarpur municipality, P.S. Sonarpur,
District 24 Parganas (South) more
fully described in Schedule-B to the LETD |
|
Date of latest
modification prior to the present modification |
08/06/2010 |
|
Particulars of
the present modification |
By this modification
the PC limit has been enhanced from Rs.78.000 millions to Rs.84.000 millions
and FBD/FBE limit from Rs.66.000 millions to Rs.72.000 millions. In view of
the said modification the Overall Charge/limit against Prime and Collateral
security stands renewed/revised to Rs.216.000 millions (comprising of
PC-Rs.84.000 millions, FDB/FBE-Rs.72.000 millions and FLC(DA/DP)-Rs.60.000
millions). Other terms and conditions (save as modified by these presents)
remain unchanged. |
Form 8
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90248061 |
|
Corporate
identity number of the company |
U72200WB2000PTC091406 |
|
Name of the
company |
WORLDWIDE SAFETY
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
5A |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
Canara Bank,
Overseas Branch, 2/1, E-Mail: kolk1856@canbank.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
Letter evidencing
deposit of title deeds (NF-461) |
|
Date of
instrument Creating the charge |
17.03.2008 |
|
Amount secured by
the charge |
Rs.216.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As stipulated by
Bank Terms of Repayment
Repayable on
demand Margin As stipulated by
Bank Extent and
Operation of the charge Equitable
mortgage by deposit of Title deeds of Immovable property of the borrower
company as additional collateral security to the extent of overall credit limit
of Rs.216.000 Millions granted by the bank. Others As per original
charge dated 30.08.2008 and subsequent modifications |
|
Short particulars
of the property charged |
Equitable
mortgage by way of deposit of 4 Nos. Title Deeds specified in the Schedule A
to the LETD dated 17.03.2008 relating to Land admeasuring 7 Bighas, 18 Cottahs, 9 Chittacks bearing
JLNO.71, RS NO, 233, Touzi No.37, 49, 63, 64 and 68 located at 2, Dr. B.C.
Roy Road, Kolkata – 700 151 under Rajpur-Sonarpur municipality, P.S. Sonarpur,
District 24 Parganas (South) more fully describedin schedule – B to the LEDTD
dated 17.03.2008 |
|
Date of latest
modification prior to the present modification |
05.02.2008 |
|
Particulars of
the present modification |
By this modification
the borrower created Equitable mortgage by deposit of title deeds of
immovable property as additional collateral security the overall credit
facilities granted by canara bank to the extent of Rs. 216.000 Millions. All
other terms and conditions remain unchanged |
Form 8
|
Name of the company |
WORLDWIDE SAFETY
PRIVATE LIMITED |
|
Presented By |
Canara Bank, Overseas Branch, |
|
1) Date and description of instrument creating the change |
Agreement for
hypothecation of book debts dated 31.03.2003 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.10.000
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 |
The Bank do
hereby hypothecates and charge to the Bank by way of first charge all the book
debts, outstanding, moneys, receivable, claims and bills which are now due
and owing or which may at time hereafter during continuance of this security
become due and owing to the Borrower in the course of its business by any
person, firm, company or by the Government or any or local public body or
authority as security for the due repayment to the bank at any time the
credit facilities as sanctioned by the Bank to the Borrower. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Interest will be
paid by the Borrower as per the Bank’s RBI guidelines from time to time. |
|
5) Name and Address and description of the person entitled to the charge. |
Canara Bank, Overseas Branch, |
|
6) Date and brief description of instrument modifying the charge |
N.A. |
|
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. |
N.A. |
Form 8
|
Corporate
identity number of the company |
U72200WB2000PTC091406 |
|
Name of the
company |
WORLDWIDE SAFETY PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
5A, E-Mail: worldwidesafety@hotmail.com |
|
This form is for |
Modification of
charge |
|
Charge identification
number of the modified |
90248061 |
|
Type of charge |
|
|
Particular of
charge holder |
Canara Bank, Overseas Branch, E-Mail: managerkolk1856@canbank.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
a) Supplemental
Common Hypothecation Agreement b) Extension of
Equitable mortgage by re-deposit of title deeds for Additional limit granted
on the very security with Schedules A and B c) Letter of
Renewal (NF-493) d) Link Letter in
respect of enhancement of credit facilities (NF-719) e) Canara Bank's
Sanction letter 07/02/2011 |
|
Date of instrument
Creating the charge |
22.02.2011 |
|
Amount secured by
the charge |
Rs.260.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest:
For PC/FDB/FBE limit-Rs.160.000 millions-Minimum @ 10%(floating) per annum
with monthly rests payable as and when due For Term
Loan-Rs.40.000 millions- As stipulated by Bank Terms of
Repayment: Term Loan of Rs.40.000 millions repayable in 8 quarterly installments
of Rs.5.000 millions each commencing from January,2011 PC/FDB/FBE-Rs.160.000
millions and FLC -Rs.60.000 millions -Repayable on demand Margin: FOR PC-
10% , FOR FDB/FBE-NIL, FOR FLC-10% and For Term Loan- 20% Extent and
Operation of the charge: Exclusive First charge in favour of Canara Bank (a)
by way of hypothecation of all the present and future stocks and book debts
of the Borrower as Prime security and (b) by way of hypothecation of all the
Plant and machinery of the Borrower and (c) Equitable mortgage by deposit of
title deeds of immovable property of the Borrower as Collateral security for
Overall limit of Rs.260.000 millions granted by the Bank(comprising of
PC-Rs.90.000 millions and FDB/FBE-Rs.70.000 millions and FLC(DA/DP)-Rs.60.000
millions and Term Loan-Rs.40.000 millions Others: (with
sub-limit for FLC- Rs.21.800 millions) As per Original Charge dated
30.08.2000 and subsequent modifications thereto and as per sanction memo
dated 07/02/2011 |
|
Short particulars
of the property charged |
Hypothecation by
way of Exclusive First charge in favour of Canara Bank all the
Plant and machineries to be purchased out of fresh term loan of Rs.400
lacs located at Unit I Gobindapur, Budge Budge Road, Maheshtala, 24 Parganas
(South) and at Unit II -2 B.C.Roy Road, 24 Parganas (South) or wherever else
the same may be as Prime security. Equitable mortgage by way of deposit of 4
Nos.Title Deeds specified in the Schedule A to the LETD dated17.03.2008
relating to Land admeasuring 7
Bighas,18 Cottahs,9Chittacks bearing JLNO.71,RS No.233 Touzi
No.37,49,63,64 and 68 located at 2, Dr.B.C.Roy Road,Kolkata-700151 under
Rajpur-Sonarpur municipality, P.S.Sonarpur, District 24 Parganas(South) more fully described in Schedule-B to the
LETD (value Rs.429.00 lacs as per V.R. dated 05/02/2010) as Prime security.
Hypothecation by way of Exclusive First charge iin favour of Canara Bank all the existing Plant and Machinery (WDV Rs.463.00 ABS
31/03/10 and all the present and future stocks and Book debts of the Borrower
located at Unit I Gobindapur, Budge Budge Road, Maheshtala,24 Parganas
(South) and at Unit II-2 B.C.Roy Road, 24 Parganas (South) or wherever else
the same may be as Prime and
Collateral security. and and Deposit kept as KDR -Rs.6.300 millions with the
Bank as collateral security |
|
Date of latest
modification prior to the present modification |
17.09.2010 |
|
Particulars of
the present modification |
By this
modification the PC limit has been enhanced from Rs.84.000 to Rs.90.000
millions and FDB/FBE limit has been reduced from Rs.72.000 to Rs.70.000
millions. In view of the said modification the Overall Charge/limit against
Prime and Collateral security stands renewed/revised to Rs.260.000 millions
(comprising of PC-Rs.90.000 millions,FDB/FBE-Rs.70.000 millions and
FLC(DA/DP)-Rs.60.000 millions and Term Loan-Rs.40.000 millions (with
sub-limit for FLC-Rs.21.800 millions). Other terms and conditions (save as
modified now) remain unchanged. |
FIXED ASSETS:
v
Land (Freehold)
v
Factory Shed and Building
v
Plant and Machinery
v
Air Conditioner
v
Computers
v
Office Equipments and Electrical Fittings
v
Generator
v
Vehicles
v
Furniture and Fixtures
v
Computer Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.44.80 |
|
|
1 |
Rs.72.85 |
|
Euro |
1 |
Rs.63.11 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & 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 |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.