MIRA
INFORM REPORT
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Report Date : |
25.08.2011 |
IDENTIFICATION DETAILS
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Name : |
FAIRDEAL SUPPLIES LIMITED |
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Registered Office : |
4, B.B.D. Bag (East) 1st Floor Stephen House, Room no: 5, Kolkata - 700 001, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
21.07.1987 |
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Com. Reg. No.: |
21-97552 |
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Capital
Investment / Paid-up Capital : |
Rs. 20.000 Millions |
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CIN No.: [Company
Identification No.] |
U51909WB1987PLC097552 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMF00087D |
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PAN No.: [Permanent
Account No.] |
AAACF2878C |
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Legal Form : |
A Closely held Public Limited Liability Company. |
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Line of Business : |
Subject acts as traders and suppliers of hard coke and
steam coal |
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No. of Employees : |
30 (Approximately) |
RATING & COMMENTS
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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 2400000 |
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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. |
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
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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 |
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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 |
LOCATIONS
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Registered Office : |
4, B.B.D. Bag (East) 1st Floor Stephen House, Room no: 5, Kolkata - 700 001, |
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Tel. No.: |
91-33-22201153 / 22206825 |
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Fax No.: |
91-33-22436124 |
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E-Mail : |
fdspl43@gmail.com frontlinecorp@eth.net |
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Website : |
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Contact Person : |
Mr. Vinod Arora |
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Head/Corporate Office : |
4th, Floor, “Shalin”, |
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Tel. No.: |
91-79-26578201 / 26578863 / 26579750 |
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Fax No.: |
91-79-26576619 |
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E-Mail : |
fdspl43@gmail.com |
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Contact Person : |
·
Mr. Pawan Kumar Agarwal ·
Mr. Dinesh Shah ·
Mr. Dinesh Jain |
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Corporate Office : |
301, 3rd Floor, |
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Tel. No.: |
91-79-26444883 / 26444890 / 26449310 |
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Fax No.: |
91-79-26444885 |
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E-Mail : |
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Contact Person : |
Mr. Divyang Oza |
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Pipavav Plant : |
Plot No. 17/26, |
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Tel. No.: |
91-2794-286246 , 286399 |
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Fax No.: |
91-2794-286534 |
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E-Mail : |
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Contact Person: |
Mr. S.S Shekawat |
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Gandhidham Plant : |
Village and Post Chopadava, Taluka – Bhachchau , Kutch, |
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Tel. No.: |
91-2836-228508 |
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Fax No.: |
91-2836 – 228508 |
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E-Mail : |
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Contact Person : |
Mr. Vinod Arora |
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Branch Office/ |
854, |
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Tel. No.: |
91-422-256866 / 2568667 |
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Contact Person : |
Mr. O. P. Sharma |
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Plant : |
Shiv Shakti Steel Private Limited Sponge Iron Plant MIG – 6, Housing Board Colony, Chakradhan Nagar, Raigarh, |
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Tel. No.: |
91-7762-222854 |
DIRECTORS
AS ON : 30.09.2010
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Name : |
Mr. Ram Prasad Agarwal |
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Designation : |
Chairman Cum Managing Directors |
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Address : |
140/4B , |
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Date of Birth/Age : |
25.05.1954 |
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Date of Appointment : |
21.07.1987 |
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Name : |
Mr. Narayanprasad Agarwal |
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Designation : |
Managing Directors |
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Address : |
140/4B , |
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Date of Birth/Age : |
12.05.1958 |
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Date of Appointment : |
21.07.1987 |
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Name : |
Mr. Pawan Kumar Agarwal |
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Designation : |
Directors |
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Address : |
40 Hindu Colony, |
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Date of Birth/Age : |
12.09.1960 |
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Qualification : |
Graduate |
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Date of Appointment : |
21.07.1987 |
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Name : |
Mr. Saurabh Jhunjhunwala |
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Designation : |
Director |
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Address : |
140/4B , |
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Date of Birth/Age : |
12.12.1976 |
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Date of Appointment : |
20.07.1994 |
ADDITIONAL DIRECTOR
As on 30.09.2010
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Name : |
Mr. Mukund Jhunjhunwala |
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Designation : |
Additional Director |
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Address : |
140/4B , |
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Date of Birth/Age : |
11.12.1986 |
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Date of Appointment : |
06.07.2009 |
KEY EXECUTIVES
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Name : |
Mrs. Veenita Gehlot |
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Designation : |
Secretary |
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Address : |
352, Sector 4 B, Gandhinagar – 380 004, |
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Date of Birth/Age : |
24.08.1971 |
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Date of Appointment : |
25.08.2008 |
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E-Mail : |
vynita_85@yahoo.com |
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Pan No : |
AIWPG4477H |
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Mobile No : |
91-9314705554 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
No. of Shares |
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Pawan Kumar Agarwal |
171660 |
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Ramprasad Agarwal |
175990 |
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Narayan Prasad Agarwal |
60100 |
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Saurav Jhunjunwala |
60400 |
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Gaurav Junjhunwala |
100500 |
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Bhagwanidevi Agarwal |
100 |
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Revadevi Jhunjunwsala |
256000 |
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Shilpi Jhunjunwala |
2500 |
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Mukund Jhunjhunwala |
274250 |
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Baijnath Agarwal and Sons (HUF) |
110500 |
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Hansa Agarwal |
215000 |
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Renudevi Jhunjhunwala |
281000 |
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Narayan Prasad Agarwal and Son (HUF) |
30000 |
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Raja Jhunjhunwala |
180500 |
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Ram Prasad Agarwal and Sons (HUF) |
75000 |
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Madan Mohan Maity |
4000 |
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Kajal Trading Limited, |
1500 |
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Starlite Mercentile Limited, |
1000 |
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Total |
2000000 |
Equity share break
up (percentage of total equity)
AS ON : 30.09.2010
|
Category |
Percentage |
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Bodies Corporate |
0.13 |
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Directors or relatives of directors |
99.87 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject acts as traders and suppliers of hard coke and
steam coal |
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Products : |
Thermal Coal , Coking Coal ,
Low Ash Metallurgical Coke Steel and Steel Scrap Pig Iron/Iron
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PRODUCTION STATUS (31.03.2010)
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Particulars |
|
Unit |
Installed
Capacity |
Actual
Production |
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MartallurgicalCoke |
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M.T |
125000.000 |
18671.35 |
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Wind Energy |
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KW |
27860 |
4668.00 |
Note:
Production Includes 0.00 MT (Previous year
27879.056 MT) of production on job work form outsiders. Installed capacities
being technical matter, are taken as
certified by technical experts.
GENERAL INFORMATION
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No. of Employees : |
30 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
VPC and Associates |
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Address : |
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Pan No : |
AAIFR1123P |
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Tel. No.: |
91-33-22486879 |
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E-Mail : |
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Associates: |
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CAPITAL STRUCTURE
AS ON (31.03.2010)
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
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12000000 |
Equity Share |
Rs.10/- each |
Rs.120.000 Millions |
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Issued, Subscribed & Paid-up Capital:
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No. of Shares |
Type |
Value |
Amount |
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2000000 |
Equity Share |
Rs.10/- each |
Rs.20.000
Millions |
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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 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
20.000 |
20.000 |
20.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
584.624 |
549.974 |
534.664 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
604.624 |
569.974 |
554.664 |
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LOAN FUNDS |
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1] Secured Loans |
3839.788 |
1593.158 |
725.653 |
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2] Unsecured Loans |
204.810 |
54.293 |
27.270 |
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TOTAL BORROWING |
4044.598 |
1647.451 |
752.923 |
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DEFERRED TAX LIABILITIES |
235.865 |
254.043 |
209.542 |
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TOTAL |
4885.087 |
2471.468 |
1517.129 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
922.171 |
998.926 |
1083.890 |
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Capital work-in-progress |
22.200 |
0.710 |
51.211 |
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INVESTMENT |
2.334 |
2.366 |
2.108 |
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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 |
5535.844
|
5689.981
|
861.764
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Sundry Debtors |
450.277
|
897.270
|
712.365
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Cash & Bank Balances |
374.412
|
636.097
|
501.293
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Other Current Assets |
0.000
|
0.000
|
0.000
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Loans & Advances |
652.182
|
948.207
|
955.475
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Total
Current Assets |
7012.715
|
8171.555
|
3030.897
|
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
774.215
|
3018.848
|
60.360
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Other Current Liabilities |
3069.068
|
3658.325
|
2582.749
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Provisions |
5.465
|
25.217
|
8.268
|
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Total
Current Liabilities |
3074.533
|
6702.390
|
2651.377
|
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Net Current Assets |
3938.182
|
1469.165
|
379.520
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MISCELLANEOUS EXPENSES |
0.200 |
0.301 |
0.400 |
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TOTAL |
4885.087 |
2471.468 |
1517.129 |
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PROFIT & LOSS
ACCOUNT
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|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income from Operations |
4268.586 |
8600.729 |
8954.056 |
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Other Income |
169.187 |
89.399 |
104.571 |
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TOTAL (A) |
4437.773 |
8690.128 |
9058.627 |
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Less |
EXPENSES |
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|
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|
|
|
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Material Cost |
3466.477 |
6771.838 |
8096.627 |
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Manufacturing Administration and
Selling Expenses |
199.505 |
1268.375 |
254.863 |
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TOTAL (B) |
3665.982 |
8040.213 |
8351.49 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
771.791 |
649.915 |
707.137 |
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Less |
FINANCIAL
EXPENSES (D) |
615.274 |
419.999 |
221.609 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
156.517 |
229.916 |
485.528 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
136.493 |
156.723 |
81.669 |
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PROFIT BEFORE
TAX (E-F) (G) |
20.024 |
73.193 |
403.859 |
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Less |
TAX (H) |
(14.727) |
58.592 |
155.791 |
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PROFIT AFTER TAX
(G-H) (I) |
34.751 |
14.601 |
248.068 |
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Less |
PRIOR PERIOD
ADJUSTMENT |
0.101 |
[0.708] |
0.047 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
459.983 |
444.674 |
196.914 |
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Less |
APPROPRIATIONS |
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|
Amount appropriated towards defined benefit
obligations of earlier year |
0.000 |
0.000 |
0.261 |
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BALANCE CARRIED
TO THE B/S |
494.633 |
459.983 |
444.674 |
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EARNINGS IN
FOREIGN CURRENCY |
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|
Claim / Dispatch |
9.865 |
7.087 |
242.715 |
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Export sales on FOB basis |
908.447 |
1195.522 |
1600.811 |
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TOTAL EARNINGS |
918.312 |
1202.609 |
1843.526 |
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IMPORTS |
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Import Value |
462.025 |
5144.603 |
5118.461 |
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TOTAL IMPORTS |
462.025 |
5144.603 |
5118.461 |
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|
Earnings Per
Share (Rs.) |
17.32 |
7.65 |
124.01 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.78 |
0.17
|
2.74
|
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|
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|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.46 |
0.85
|
4.51
|
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|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.25 |
0.80
|
9.81
|
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|
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|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03 |
0.13
|
0.73
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
11.77 |
14.65
|
4.78
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.28 |
1.22
|
1.14
|
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS
The Company is
facing impact of the economic slowdown which started in the previous year.
However the expansion and diversification projects already undertaken earlier, has
enabled the Company to offset unfavorable conditions to some extent. The
Company feels that the process of economic revival has already started and in
the coming years it shall be able to overcome the impact of recession with the
motivated team of employees and support of their bankers, customers etc.
During the year
the sales turn over of the Company has decreased from Rs. 8600.729 millions to
Rs 4268.587 millions. The Profit before Depreciation, other Provisions and
Taxes are 156.518 millions against Rs. 229.916 millions in the previous year
registering a decrease of 32 % approximately. over the last year. The Profit
after making Provision for income Tax, Deferred Income Tax - Current Year and
Previous Year and Prior Period Adjustments stood at Rs. 34.752 millions as
against Rs. 14.601 millions in the previous year.
CONTINGENT
LIABILITIES NOT PROVIDED FOR
|
Particulars |
31.03.2010 Rs.
In Millions |
31.03.2009 Rs.
In Millions |
|
Bank Guarantee issued |
8.200 |
5.345 |
|
Suit Filed against the company |
7.900 |
7.900 |
|
Anti Dumpint Duty |
27.114 |
27.115 |
|
Disputed Income Tax Demands |
Nil |
1.170 |
FORM : 8
Bankers Charges
Report as per Registry
|
Corporate identity number of the company |
U51909WB1987PLC097552 |
|
Name of the company |
FAIRDEAL SUPPLIES LIMITED |
|
Address of the registered office or of the
principal place of business in |
4, B.B.D.BAG (E),1st Floor, Stephen House,
R.NO.5, Kolkata - 700001, West Bengal, India |
|
This form is for |
Modification of charge |
|
Type of charge |
Immovable property Book debts Movable property (not being pledge) Floating charge Others |
|
Particular of charge holder |
Allahabad Bank, Stephen House Branch, 4, B.
B. D. Bag (east), Kolkata – 700001, West Bengal, India |
|
Nature of instrument creating charge |
Letter of mortgagor confirming deposit of
title deeds. |
|
Date of instrument Creating the charge |
08/04/2011 |
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Amount secured by the charge |
Rs. 345.000 millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate
of interest @ 2% P.A. Over Allahabad Bank's Prime
Lending Rate With Monthly Rests Subject To Change By The Bank From Time To
Time. Terms
of repayment Repayable By 16 Equal Monthly Installments
Of Rs. 21.600 millions Commencing From May 2010. Margin AS APPLICABLE. Extent
and operation of the charge Exclusive First Charge In Favour Of
Allahabad Bank, Stephen House Branch, Kolkata -700001. Other
All the hypothecated and mortgaged assets
shall be insured against loss or damage under bank's clause. |
|
Short particulars of the property charged
(Including location of the property) |
All Tangible Movable Plant & Machinery,
Fixture, Fittings, Other Installations, Furniture, Computers and Other
Accessories And All Other Articles Lying In The Premises Or In The Godown Of
The Company Situated at Sirmungai Village, Coimbatore,
Mettupalayam, Tamilnadu or in course of transit. The whole of the co's movable goods and
assets both present and future including all stocks such as scrap
assets/materials etc. Stored to be stored at sirmungai vill., Coimbatore,
mettupalayam, Tamilnadu Or wherever else and all present and future
book debts, receivables, claims etc. Of the borrower. Equitable Mortgage By Deposit Of Title
Deeds In Respect Of All That Pieces and Parcels Of Land Bearing Revenue
Survey No. 496 / 2, 427 / 1 (Part), 450 (Part), 368 / 2 (Part) and 368/1A(
Part ),452(Part),440 / 4(Part) 465 Situated At Vill. Tenkasi, Taluka.
Tenkasi, Dist. Tirunelveli, 102/5 ( PART ), 101 / 4 and 101 / 1,117 / 1, 2,
78 / 1 Situated At Vill. Ayikudi, Taluka. Tenkasi, dist. Tirunelveli and
664/4(part) situated Keelaveeranam, Taluka. Veerakeralampudur,
dist. Tirunelveli in the state of Tamilnadu together with all buildings and
structures standing thereon or to be erected And all plant and machinery attached to
the earth both present and future. (details of mortgaged property are given under
schedule 'A' and 'B' In Letter Of
Mortgage Enclosed) |
|
Particulars of the present modification |
By this modification the existing term
loan of Rs. 345.000 millions has been additionally secured by equitable mortgage
of all that pieces and parcels of land situated at vill. tenkasi, vill.
Ayikudi and at vill. Keelaveeranam, dist. Tirunelveli in the state of
Tamilnadu together with all buildings and structures standing thereon and all
plant and machinery attached to the earth both present and future. All other
terms and conditions remain unaltered. |
FIXED ASSETS:
- Building
- Plant and Machinery
- Vehicles
- Furniture and Fixtures
- Ship
Web SiTe Details:
Company Profile:
Subject is incorporated in 1987; has a long and successful
history of dealing in various types of Coals and Metallurgical Coke. It is the
flagship company of over Rs. 3000.00 Millions. Frontline Group, owned and
managed by the Agarwal Brothers; with Kolkata and Ahmedabad being the main
bastions of the Organization. The company has an all
The Group in general and FDSPL in particular are on an exponential path of
growth, diversification and development; both in Manufacturing Sector and
Trading, inclusive of exports.
Apart from the main thrust on Manufacturing of Metallurgical Coke, the
Organization deals in a number of industrial commodities like Soda Ash, imports
of Coal and MetCoke and exports of
The company has an existing annual production capacity of 150,000 MT
Metallurgical Coke from imported Australian/Chinese Coking Coal. The Plants are
located near Pipavav and
In keeping with Govt. of India’s important Policy Thrust, the company has a
highly advantageous and long-range investment in the Wind Energy Generation.
Over 12 MW having already been installed, the company envisages an annual
growth potential of 2 MW on a year-on-year basis in this Renewable Energy
Sector.
The company has extensive dealings with
Promoters/Directors:
Shri Ramprasad Agarwal
Shri Ramprasad Agarwal – Chairman – the eldest son of Shri
Baijnath Agarwal, erstwhile founder of the Group; has over 30 years experience
of trading and marketing of Industrial Products like Coal, MetCoke, Soda Ash,
etc. As an able Administrator, he has co-ordinated and stabilized all
activities through very balanced management policies and growth-oriented
dynamism. Presently, his focus is on international relationships for
procurement of Coking Coal, MetCoke, etc. from various countries like
Shri Narayanprasad Agarwal
Shri Narayanprasad Agarwal – Director endowed with a keen sense of financial acumen, the 46 years Shri Narayanprasad Agarwal is the Chief Architect of co-ordinating all financial planning and arrangement of various facilities through Banks/ Institutions to enable spontaneous growth. He has also seized the potential of investments in real estate sector which has given the Group a more balanced assets portfolio apart from generating regular income.
Shri Pawankumar
Agarwal
1978 to establish the Coal and MetCoke business in
Shri Saurabh Jhunjhunwala
Shri Saurabh Jhunjhunwala – Director – at a comparatively
young age of 21 years, he was already an active member of the family
Management. With his fresh and progressive ideas, he has contributed
substantially to develop a wider spectrum of clients and activities; with the
main focus on Transportation Division of the Group. He is also actively
exploring and pursuing export potential of the Industrial Products where he
already has successfully made his mark.
The Management Team
Mr. Pawan Kumar Agarwal – MD is the key decision-maker, in consultation with the other team members. He professionally manages the Organization, backed by an excellent commercial assessment of Coal and Metallurgical Coke markets. His rich experience and reputed standing in the market has been beneficial in development of personalized contacts at the highest level of large Corporates and Clients
Mr. Dinesh K. Shah – C.E.O. has an engineering background with over
35 years of Industrial Project experience from concept to implementation. He is
responsible for formulations, negotiations, and finalization of all contractual
requirements, both commercial and legal. He is instrumental in acquiring
financial resources through Banks and other Financial Institutions. Presently,
he is heading a 0.7 Million Tonnes Co-Generation MetCoke Project
Mr. Dinesh kumar Jain – Vice
President (F and A) is a qualified Chartered Accountant, mainly looking after
Finance and Accounts of the company. He is responsible for audit and tax
planning of the Company
Mr. Vijay Dhawan – General Manager - is the key person looking after the overall operation of Pipavav Plant.
Mr. Vinod Arora – General Manager - is overall in-charge of Gandhidham Plant. He has over 25 years of operational experience in Coke Oven Plants and quality control expertise.
Products Details:
Thermal Coal:
The material is used mainly in Boilers for supplying the
necessary heat-energy to generate steam. They import Thermal Coal (Steam Coal)
from
Coking Coal:
This material, also known as Metallurgical Coal; is
exclusively used for carbonization into MetCoke in specially designed
Coke-Ovens. They have a sizeable, contracted arrangement for procurement of
both Prime and Soft Coking Coal from
Low Ash Metallurgical Coke:
Essentially this is a very important industrial raw material required by –
Steel Sector – both integrated Plants as well as secondary Steel/Pig Iron (Mini Blast Furnaces) Manufacturers
Foundries
Soda Ash
Zinc and Copper Smelters, etc
Because of its hardness, sizing possibilities, free carbon content, high calorific value and low ash/phosphorous/sulphur contents; it is directly beneficial to the Metal and the Chemical Industries.
They have a well established and wide spread marketing net-work for supply of MetCoke. Apart from having 2 Plants with installed capacities of approx. 150,000 MT to manufacture the same, they also import from China, Japan, etc. to cater to client’s specific requirements with the operational area of their MetCoke supplies ranging from Rajasthan / Delhi / Punjab / Maharashtra in the West to Karnataka/Tamil Nadu in the South and with some pockets in the Eastern part of India. To meet the short-fall in demand, they also source their Met Coke from leased Coke-Oven Plants by supplying their Coking Coal.
Steel and Steel Scrap:
Having the necessary experience of the Steel Market, the company periodically takes the opportunity to trade in this Sector.
Pig Iron/Iron
The company is studying potential of this market since the market requirement is governed by more or less the same segment which consumes Metallurgical Coke.
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. 45.76 |
|
|
1 |
Rs. 75.57 |
|
Euro |
1 |
Rs. 65.97 |
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 |
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.