MIRA
INFORM REPORT
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Report Date : |
22.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
JAP STRETCH PRIVATE LIMITED |
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Registered
Office : |
22, Ballygunge Terrace, Kolkata – 700 029, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of Incorporation
: |
22.02.2002 |
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Com. Reg. No.: |
21-094282 |
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Capital
Investment / Paid-up Capital : |
Rs.4.883
millions |
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CIN No.: [Company Identification
No.] |
U24139WB2002PTC094282 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
CALJ02086A CALJ03812E |
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PAN No.: [Permanent Account No.] |
AABCJ1467A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader of Narrow Fabric Machinery. |
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No. of Employees
: |
7 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
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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 96000 |
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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 an established
company having satisfactory track. Trade relations are reported as fair.
Business is active. Payments are reported to be usually correct and as per
commitments. The company can
be considered normal for business dealings at usual trade terms and
conditions. Profit and loss
of the company for the current year is not available. |
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) |
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|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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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 : |
Ms. Rajeshri |
|
Designation : |
Secretary |
|
Date : |
20.08.2011 |
LOCATIONS
|
Registered/ Head Office : |
22, Ballygunge Terrace, Kolkata – 700 029, West |
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Tel. No.: |
91-33-24611253/ 1357 |
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Mobile No.: |
91-9831097383/ 9748737387 (Mr. Sudip Mukherjee) |
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Fax No.: |
91-33-24417096 |
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E-Mail : |
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Website : |
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Branch Office : |
Located at: v
v
Tirupur v
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Overseas Office : |
C/o - Wenli Import and Export Company Limited H.O.: Room 602, No.789, |
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Tel. No.: |
+86-579-85793567 |
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Fax No.: |
+86-579-85793569 |
DIRECTORS
As on 30.09.2010
|
Name : |
Mrs. Mousumi Mukherjee |
|
Designation : |
Director |
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Address : |
126, |
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Date of Birth/Age : |
21.11.1961 |
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Date of Appointment : |
22.02.2002 |
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DIN No.: |
01680936 |
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Name : |
Mr. Sudip Subhas Chandra Mukherjee |
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Designation : |
Director |
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Address : |
4/1, |
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Date of Birth/Age : |
04.09.1964 |
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Date of Appointment : |
21.02.2002 |
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DIN No.: |
01682722 |
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|
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Name : |
Md. Yusuf |
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Designation : |
Director |
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Address : |
Village: Ruiya Madhyapara, P.O: Patulia, P.S: Khardaha, District:
North 24 Parganas, Kolkata – 700 119, West |
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Date of Birth/Age : |
15.02.1964 |
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Date of Appointment : |
15.03.2011 |
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DIN No.: |
03456271 |
KEY EXECUTIVES
|
Name : |
Ms. Rajeshri |
|
Designation : |
Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2010
|
Names of Shareholders |
|
No. of Shares |
|
Sudip Mukherjee |
|
230780 |
|
Mousumi Mukherjee |
|
172000 |
|
Susanta Roy |
|
3000 |
|
Tej Udyog Private Limited, |
|
63750 |
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BRB Fintrade Private Limited, |
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13750 |
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Maa Durga Fabricators, |
|
5000 |
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Total
|
|
488280 |
As on 31.03.2011
|
Names of Allottees |
|
No. of Shares |
|
Sudip Mukherjee |
|
80000 |
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Total
|
|
80000 |
As on 30.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
16.00 |
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Directors
or relatives of directors |
|
82.00 |
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Other
top fifty shareholders |
|
2.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader of Narrow Fabric Machinery. |
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Products : |
v Textile/Garment Machinery v Plastic Injection Moulding Machine v Zipper Machine v Jacquard Loom v Automatic Gapper and Bottom Stop Machine v Warping Machine v
Crochet Machine |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
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GENERAL INFORMATION
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Customers : |
Wholesalers and Manufacturer |
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No. of Employees : |
7 (Approximately) |
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Bankers : |
v
United Bank of v
United Bank of v Cholamondalam Bank Limited v HDFC Bank Limited v Axis Bank v Kotak Mahindra Bank v ICICI Bank Limited v ABN Amro Bank |
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Facilities : |
Cash Credit – Rs.30.000 millions and LC – Rs.10.000 millions
(From United Bank of
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Banking
Relations : |
-- |
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Financial Institution : |
Cholamondalam DBS Finance Limited |
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Auditors : |
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Name : |
Bhattacharya Sengupta and Company Chartered Accountants |
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Address : |
10, Clive Row, Kolkata – 700 001, West |
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Tel. No.: |
91-33-22421592/ 22317608 |
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Mobile No.: |
91-9830008778 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
AAFFB3400Q |
CAPITAL STRUCTURE
After 30.09.2010
Authorised Capital : Rs.20.000 millions
Issued, Subscribed & Paid-up Capital : Rs.8.933
millions
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
259280 |
Equity Shares |
Rs.10/- each |
Rs.2.593
millions |
|
229000 |
Equity Shares (Issued other than consideration of cash) |
Rs.10/- each |
Rs.2.290
millions |
|
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Total |
|
Rs.4.883 millions |
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 |
4.883 |
4.058 |
4.058 |
|
|
2] Share Application Money |
10.300 |
8.300 |
0.000 |
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3] Reserves & Surplus |
8.843 |
3.360 |
1.317 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
24.026 |
15.718 |
5.375 |
|
|
LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
16.694 |
14.561 |
13.027 |
|
|
2] Unsecured Loans |
2.751 |
2.885 |
1.770 |
|
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TOTAL BORROWING |
19.445 |
17.446 |
14.797 |
|
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DEFERRED TAX LIABILITIES |
0.107 |
0.024 |
0.033 |
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|
|
|
|
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TOTAL |
43.578 |
33.188 |
20.205 |
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APPLICATION OF FUNDS |
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|
|
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|
|
|
|
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FIXED ASSETS [Net Block] |
5.981 |
3.921 |
1.681 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
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|
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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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 |
22.518
|
32.293
|
16.015 |
|
|
Sundry Debtors |
37.003
|
12.066
|
16.530 |
|
|
Cash & Bank Balances |
8.673
|
6.020
|
1.557 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
16.097
|
6.288
|
4.296 |
|
Total
Current Assets |
84.291
|
56.667 |
38.398 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
16.231
|
25.265
|
18.539 |
|
|
Other Current Liabilities |
28.644
|
1.115
|
0.317 |
|
|
Provisions |
1.819
|
1.020
|
1.018 |
|
Total
Current Liabilities |
46.694
|
27.400 |
19.874 |
|
|
Net Current Assets |
37.597
|
29.267
|
18.524 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
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|
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TOTAL |
43.578 |
33.188 |
20.205 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
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SALES |
|
|
|
|
|
|
|
Income |
NA |
64.640 |
40.162 |
|
|
|
Spares and Other Sales |
NA |
11.324 |
17.631 |
|
|
|
Other Income |
NA |
0.497 |
1.869 |
|
|
|
TOTAL (A) |
NA |
76.461 |
59.662 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase |
NA |
59.220 |
40.836 |
|
|
|
Employment |
NA |
5.661 |
3.293 |
|
|
|
Direct Expense |
NA |
12.002 |
5.556 |
|
|
|
Administrative Office and Other Expenses |
NA |
9.818 |
10.097 |
|
|
|
Increase / Decrease in Stock |
NA |
(16.278) |
(4.413) |
|
|
|
TOTAL (B) |
NA |
70.423 |
55.369 |
|
|
|
|
|
|
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|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
6.038 |
4.293 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST &
FINANCIAL EXPENSES (D) |
NA |
1.939 |
2.072 |
|
|
|
|
|
|
|
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|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
4.099 |
2.221 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
0.711 |
0.416 |
|
|
|
|
|
|
|
|
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|
PROFIT BEFORE
TAX (E-F) (G) |
NA |
3.388 |
1.805 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
NA |
1.345 |
0.778 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
NA |
2.043 |
1.027 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
1.317 |
0.290 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
3.360 |
1.317 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
NA |
5.03 |
NA |
|
|
Particulars |
|
31.03.2011 |
31.03.2010 |
|
Sales Turnover (Approximately) |
|
220.000 |
150.000 |
|
|
|
|
|
The above information has been parted by Ms. Rajeshri (Secretary).
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
NA
|
2.67 |
1.72 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
5.24 |
4.49 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
5.59 |
4.50 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.22 |
0.34 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.75
|
2.85 |
6.45 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.81
|
2.07 |
1.93 |
LOCAL AGENCY FURTHER INFORMATION
FORM 8:
|
Corporate
identity number of the company |
U24139WB2002PTC094282 |
|
Name of the
company |
JAP STRETCH PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
22, Ballygunge Terrace, Kolkata – 700 029, West E-Mail: ca.bsandco@gmail.com |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10106846 |
|
Type of charge |
Immovable Property Any interest in immovable property Book Debts Movable Property Floating Charge Others (Personal guarantee of the directors and others) |
|
Particular of
charge holder |
United Bank of E-Mail: bmgrh@unitedbank.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
1. Sanction
Letter 2. Letter of
hypothecation of goods 3. Letter of
guarantee (Form D21) - 3 Forms 4. Letter for
deposit of title deed (Form D17D) - 2 Forms 5. Hypothecation
of debts and movable assets 6. Hypothecation
of movable palt and machinery 7. Letter of lien 8. Letter of
continuity 9. Extension of
equitable mortgage |
|
Date of
instrument Creating the charge |
11.05.2011 |
|
Amount secured by
the charge |
Rs.39.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: 14.20% (BR +
4.75%) p.a. with monthly rest Terms of
Repayment: Being working
capital facility, review within next 12 months. Margin: 25% for cash
credit against stock and 35% against book debts 15% on LC (I and
F) (against stock) Extent and
Operation of the charge: The borrower/s
agrees that the said assets hypothecated and charged in favour of the bank under
the said agreements shall be charged in favour of the bank a continuing
security by way of first charge for the due repayment of all monies including
the principal sums, interest, costs, charge and expenses to the bank under or
in respect of all or any of the enhanced limits in the existing facilities
and/or the additional facilities now granted or agreed to be granted and/or
continued by the Bank. |
|
Short particulars
of the property charged |
Primary -
hypothecation 1st charge on stock and book debts as on 31.01.2011
as per stock statement submitted by the company. Extension of
equitable mortgage of land and building
in the name of Sri N. K. Mukherjee, Sri Pradipta Mukherjee and Sri
Sailen Mukherjee at Burning Ghat Road, Bhatpara, North 24 Parganas – Rs.7.462
millions Extension of
equitable mortgage of flat in the name of Sri Sudip Mukherjee and Smt.
Mousumi Mukherjee at 126, Baroda Avenue, Kolkata – 700084 Rs.2.274 millions Extension of
equitable mortgage of flat with car parking in the name of Jap Stretch
Private Limited at 56/4, Jorabagan Road, Naktala, Kolkata - 700047 – Rs.1.107
millions Equitable
mortgage of flat in the name of Sri Sudip Mukherjee at Addya Maq Bhaban, Flat
No. - 3D, 3rd Floor, 37/14 Central Road, Titagarh, Kolkata -
700122, North 24 Parganas - Rs 0.849 million Equitable
mortgage of two storied building in the name of Jap Stretch Private Limited
at Ruia, Azamtolla, P.O.- Patulia, P.S. - Khardah, 24 Parganas (South) Having
Land Area of 2 Cottah 8 Chhatak Equitable
mortgage of fully furnished flat in the name of Jap Stretch Private Limited
at Building No. L, Flat No. L-1101, Veer Narmad South, Gujarat University
Road, Vesu, Surat Measuring 1805 Sq Ft Continuation of
lien of Bank's FDR (6) for Rs.1.178 millions and RD (1) for Rs.0.336 million
in the name of Sudip Mukherjee, Mousumi Mukherjee and Jap Stretch Private
Limited a RD of Rs.0.050 million per month to be opened LIP of Rs.0.729
million, PG of directors - Net Worth Rs.9.200 millions, PG of Sri S Roy - Net
Worth – Rs.1.203 millions, PG of N K Mukherjee - Net Worth Rs.5.025 millions
and Corporate Guarantee of Tej Udyog Private Limited All plants and
machineries forming part and parcel of fixed assets both present and future
of the company valued at Rs.7.879 millions. |
|
Date of latest
modification prior to the present modification |
25.08.2009 |
|
Particulars of
the present modification |
Cash Credit –
Rs.29.000 millions LC – Rs.10.000
millions |
|
Corporate
identity number of the company |
U24139WB2002PTC094282 |
|
Name of the
company |
JAP STRETCH
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
22, Ballygunge Terrace, Kolkata – 700 029, West |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10106846 |
|
Type of charge |
Book Debts Movable Property Floating Charge Immovable
Property Others -all other
current and movable fixed assets. |
|
Particular of
charge holder |
United Bank of Email ID: bmgrh@unitedbank.co.in |
|
Nature of
instrument creating charge |
1) Hypothecation
of Goods. 2) Hypothecation
of Book Debts and Movable Assets (Primary Security) 3) Hypothecation
of Book Debts and Movable Assets (Additional Security) 4) Hypothecation
of Movable Plant and Machinery. 5) Letter of
Continuity |
|
Date of instrument
Creating the charge |
25.08.2009 |
|
Amount secured by
the charge |
Rs.21.500
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest 14.75% [i.e.
BPLR+2.50%] P. A. with monthly rest. However, the Bank reserves the right to
change rate(s) of interest from time to time according to Banking Norms and
RBI/H.O. Guidelines. Terms of
Repayment Working capital
limit is repayable on demand. The facility is available for a period of 12
months from the date of sanction subject however, to review wherein the
facility may be cancelled or reduced depending upon the conduct and/or
utilisation of advance as per the banking norms. Margin As stipulated by
the Bank for the respective assets from time to time. For Cash Credit
:- Against
Stock : 25% Against Book
Debts : 35% For Letter of
Credit (I and F) :- Against Stock :
15% Extent and
Operation of the charge The Charge
operates as Exclusive Charge basis on the whole of the hypothecated current
assets, both present and future and entire fixed assets of the Company, both
present and future including Equitable Mortgage of Flat in the name of the
Company as well as other existing immoveable properties to secure the maximum
amount under the said charge fixed at Rs.21.500 millions together with
interest, cost and charges thereon. |
|
Short particular
of the property or asset(s) charged |
i)
Exclusive
Charge on the entire current assets of the Company including hypothecation of
stocks, book debts, current assets,
and entire fixed assets of the Company, both present and future. ii)
Equitable
Mortgage of Land and Building situated at iii)
Equitable
Mortage of Flat in the name of Sri Sudip Mukherjee and Smt. Mousumi Mukherjee
situated at 126, iv)
Equitable
Mortgage of Flat of the Company situated at 56/4, v)
Equitable
Mortgage of Flat in the name of Sri Susanta Roy situated at 56/4, |
|
Name of the
company |
JAP STRETCH
PRIVATE LIMITED |
|
Presented By |
Mr. Sudip
Mukherjee, Director |
|
1) Date and description of instrument creating the change |
1. Hypothecation
of Debts Dated 09.09.2004. 2. Hypothecation of
Goods Dated 09.09.2004. 3. Letter of Lien
Dated 09.09.2004. 4. Pronote Dated
09.09.2004 for Rs.2.500 millions 5. Letter of
Continuity Dated 09.09.2004. |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Overall limit is Rs.2.500
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 |
Jap Stretch
Private Limited (hereinafter called as ‘the Borrower) hypothecates and charges
to the Bank by way of first charge all Stocks of yarn, HRRT, Lyera, Elastics
etc. and Book Debts both present and future not over three months by way of
primary security and other movable assets both present and future, which are
now lying or stored or be stored at the godown of the Borrower situated at
CC-54A, Narayantalla East, Baguihati, Kolkata-700059 or at any other place or
in transit or on high seas or on order or delivery in the possession of the
Company and equitable mortgage of land admeasuring 0.4162 Acre situate at
Burning Ghat Road under Bhatpara Municipality of plot no.
2,3,4,5,6,7,10,11,15 and 16 being Touzi no. 608, Khatian no. 96/4-1173,
valued at Rs.4.000 millions by way of additional security. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
The Borrower
agrees to pay interest at the rate of 2.75% p.a. above the Reserve Bank of
India rate for Demand Loans from time to time with a minimum of 13.50% p.a.
or at such rate as may be communicated by the Bank from time to time and
shall be calculated on the daily balance of accounts or as per HO/RBI
guidelines. The Bank reserves
the right to change the interest commission, discount, costs and charges at Such
rate(s) as may be determined by the Head Office of the Bank from time to time
for the credit facility according to Banking norms and RBI Guidelines. Margin Stock : 25% Book debts : 35% |
|
5) Name and Address and description of the person entitled to the charge. |
United Bank of |
|
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 |
FIXED ASSETS:
v Furniture and Fixture
v Office Equipments
v Computers
v Cycle
v Motor Cycle
v Compressor
v Television
v Inverter and Generator
v Air Conditioners
v
Telephone and
v Plant and Machinery
v Electrical Installation
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.45.61 |
|
|
1 |
Rs.75.32 |
|
Euro |
1 |
Rs.65.68 |
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 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--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.