MIRA
INFORM REPORT
|
Report Date : |
05.12.2011 |
IDENTIFICATION DETAILS
|
Name :` |
KOTHARI AGRITECH PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 146 to 157, Chandramauli Industrial Co-Operative Estate,
Mohol, District Solapur – 413 213, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
01.12.2009 |
|
|
|
|
Com. Reg. No.: |
25-135094 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.50.000 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25203PN2009PTC135094 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEK09201D |
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Pipes like PVC Pipes and Fittings, SWK
Pipes and Fittings. |
|
|
|
|
No. of Employees
: |
650 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 410000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a successor of Kothari Industries, a partnership concern
started in the year 1996. It 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Nama |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-217-2721490 |
|
Date : |
03.12.2011 |
LOCATIONS
|
Registered Office : |
Plot No. 146 to 157, Chandramauli Industrial Co-Operative Estate,
Mohol, District Solapur – 413 213, |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Admin Office : |
8516/11, 3rd Floor, |
|
Tel. No.: |
91-217-2721490 |
|
Fax No.: |
91-217-2721498 |
|
|
|
|
Factory : |
Plot No. 185-193, Chandramauli Industrial Co-Operative Estate, Mohol,
Solapur – 413 213, |
|
Tel. No.: |
91-2189-232298 / 232498 |
|
Fax No.: |
91-2189-232591 |
DIRECTORS
As on 20.11.2010
|
Name : |
Mr. Ujwal Shivlal Kothari |
|
Designation : |
Managing Director |
|
Address : |
C-Narshi Roadways, Samrat Chowk, Solapur – 413 002, |
|
Date of Birth/Age : |
25.12.1960 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
01.12.2009 |
|
DIN No.: |
00423813 |
Other Directorship
|
S.No. |
CIN |
Name of the Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U25209PN1996PTC095940 |
Kothari Pipes
and Fittings Private Limited |
Director |
22-10-03 |
22-10-03 |
Active |
NO |
|
2 |
U25203PN2009PTC135094 |
Kothari Agritech
Private Limited |
Managing
director |
01-12-09 |
01-12-09 |
Active |
NO |
|
|
|
|
Name : |
Mr. Kiran Shivlal Kothari |
|
Designation : |
Director |
|
Address : |
Nagane Deshmukh Apartments, Bhudhwar Peth, Samrat Chowk, Solapur – 413
002, |
|
Date of Birth/Age : |
01.06.1956 |
|
Qualification : |
B.Sc. (Agriculture) |
|
Date of Appointment : |
01.12.2009 |
|
DIN No.: |
00423658 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U25209PN1996PTC095940 |
Kothari Pipes
and Fittings Private Limited |
Director |
22-10-03 |
22-10-03 |
Active |
NO |
|
2 |
U25203PN2009PTC135094 |
Kothari Agritech
Private Limited |
Director |
01-12-09 |
01-12-09 |
Active |
NO |
|
|
|
|
Name : |
Mr. Arvind Shivlal Kothari |
|
Designation : |
Director |
|
Address : |
Jupitor Apartments, S. No. 8338/A/2/2/2, Railway Lines, Solapur – 413
001, |
|
Date of Birth/Age : |
01.06.1958 |
|
Qualification : |
B.Sc. |
|
Date of Appointment : |
01.12.2009 |
|
DIN No.: |
00423735 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U25209PN1996PTC095940 |
Kothari Pipes
and Fittings Private Limited |
Director |
22-10-03 |
22-10-03 |
Active |
NO |
|
2 |
U25203PN2009PTC135094 |
Kothari Agritech
Private Limited |
Director |
01-12-09 |
01-12-09 |
Active |
NO |
|
|
|
|
Name : |
Mr. Amol Shantikumar Paliya |
|
Designation : |
Additional Director |
|
Address : |
At Post Ahergaon, Taluka Madha, District Solapur – 413 209, |
|
Date of Birth/Age : |
27.03.1978 |
|
Date of Appointment : |
01.02.2011 |
|
DIN No.: |
01483162 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U25209PN1996PTC095940 |
Kothari Pipes
and Fittings Private Limited |
Director |
22-10-03 |
22-10-03 |
Active |
NO |
|
2 |
U25203PN2009PTC135094 |
Kothari Agritech
Private Limited |
Additional
director |
01-02-11 |
01-02-11 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 20.11.2010
|
Names of Shareholders |
|
No. of Shares |
|
Kiran Shivlal Kothari |
|
1000000 |
|
Ujwal Shivlal Kothari |
|
500000 |
|
Arvind Shivlal Kothari |
|
500000 |
|
Amol Shantikumar Paliya |
|
500000 |
|
Pushkaraj Kiran Kothari |
|
500000 |
|
Ashish Arvind Kothari |
|
500000 |
|
Akshay Arvind Kothari |
|
500000 |
|
Sourabh Ujwal Kothari |
|
500000 |
|
Gourav Ujwal Kothari |
|
500000 |
|
Total |
|
5000000 |
As on 20.11.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
90.00 |
|
Other
top fifty shareholders |
|
10.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Pipes like PVC Pipes and Fittings, SWK
Pipes and Fittings. |
|
|
|
|
Products : |
·
Drip Irrigation System ·
Mini Sprinkler ·
Jets and Foggers ·
Filters ·
Poly Fittings ·
Plastic Sprinklers and Pop Ups ·
Rain-guns ·
Sprinkler Irrigation System ·
Rigid u PVC Pipes ·
uPVC Rubber Ring Joint Pipe ·
Fabricated Fittings ·
uPVC Agriculture Moulded Fittings ·
Hose Pipes and ASTM Pipes |
|
|
|
|
Exports : |
|
|
Products : |
Pipes |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Building Construction |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
No. of Employees : |
650 (Approximately) |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
Bankers : |
·
State Bank of Rajamati Bhavan, Bhusar Peth, Mohol,
Solapur – 413 213, ·
Kotak Mahindra Bank Limited 36-38A, Nariman Bhavan, 227 D, Nariman
Point, Mumbai – 400 021, ·
HDFC Bank |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Shah Khandelwal Jain and Associates Chartered Accountants |
|
Address : |
730, Sadashiv Peth, |
|
Tel. No.: |
91-20-30457675/574 |
|
E-Mail : |
|
|
Website : |
|
|
PAN No.: |
AACFK3470E |
|
|
|
|
Related Party (Company under same management) : |
Kothari Pipes and Fittings Private Limited |
CAPITAL STRUCTURE
As on 20.11.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7000000 |
Equity Shares |
Rs.10/- each |
Rs.70.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000
millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
50.000 |
|
|
2] Share Application Money |
|
|
19.200 |
|
|
3] Reserves & Surplus |
|
|
33.229 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
102.429 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
106.195 |
|
|
2] Unsecured Loans |
|
|
66.847 |
|
|
TOTAL BORROWING |
|
|
173.042 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.180 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
275.651 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
78.269 |
|
|
Capital work-in-progress |
|
|
4.901 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
18.862 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
122.740 |
|
|
Sundry Debtors |
|
|
201.901 |
|
|
Cash & Bank Balances |
|
|
5.095 |
|
|
Other Current Assets |
|
|
13.892 |
|
|
Loans & Advances |
|
|
1.004 |
|
Total
Current Assets |
|
|
344.632 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
133.629 |
|
|
Other Current Liabilities |
|
|
10.790 |
|
|
Provisions |
|
|
26.961 |
|
Total
Current Liabilities |
|
|
171.380 |
|
|
Net Current Assets |
|
|
173.252 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.367 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
275.651 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
|
|
420.181 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
|
|
377.018 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND MISCELLANEOUS ITEMS |
|
|
43.163 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST AND
FINANCE CHARGES |
|
|
14.479 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND MISCELLANEOUS ITEMS |
|
|
28.684 |
|
|
|
|
|
|
|
|
|
Less |
PRELIMINARY
EXPENSES W/O |
|
|
0.092 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
|
28.592 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
6.243 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
|
22.349 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
8.338 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
|
14.011 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
|
19.217 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
|
33.228 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
2.80 |
|
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
1090.000 |
The above information has been parted by Mr. Nama
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2010 |
|
PAT / Total Income |
(%) |
|
|
3.33 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
5.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
|
3.36 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
2.01 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
|
|
1. |
Year of Establishment |
YES |
|
2. |
Locality of the firm |
YES |
|
3. |
Constitutions of the firm |
YES |
|
4. |
Premises details |
YES |
|
5. |
Type of Business |
YES |
|
6. |
Line of Business |
YES |
|
7. |
Promoter’s background |
-- |
|
8. |
No. of employees |
YES |
|
9. |
Name of person contacted |
YES |
|
10. |
Designation of contact person |
YES |
|
11. |
Turnover of firm for last two years |
YES |
|
12. |
Profitability for last three years |
NO |
|
13. |
Reasons for variations <> 20% |
NO |
|
14. |
Estimation for coming financial year |
NO |
|
15. |
Capital in the business |
YES |
|
16. |
Details of sister concerns |
-- |
|
17. |
Major Suppliers |
NO |
|
18. |
Major Customers |
NO |
|
19. |
Payment terms |
YES |
|
20. |
Export / Import details (is applicable) |
YES |
|
21. |
Market information |
-- |
|
22. |
Litigation that the firm / promoter involved
in |
-- |
|
23. |
Banking Details |
YES |
|
24. |
Banking facility details |
NO |
|
25. |
Conduct of the banking account |
-- |
|
26. |
Buyer visit details |
-- |
|
27. |
Financials, if provided |
NO |
|
28. |
Incorporation details, if applicable |
-- |
|
29. |
Last accounts filed at ROC |
-- |
|
30. |
Major Shareholders, is available |
-- |
INCORPORATION
The company was
incorporated as a Private Limited Company (i.e. conversion of partnership firm
under Part IX of the Companies Act, 1956) on 1st day of December, 2009 vide
Certificate of Incorporation No. CIN: U25203PN2009PTC135094 issued by the
Ministry of Corporate Affairs, Office of the Registrar of Companies
Maharashtra, Pune.
CONVERSION OF
PARTNERSHIP FIRM M/s. KOTHARI INDUSTRIES
On 1st December, 2009
the registered partnership firm i.e. M/s. Kothari Industries has been converted
into Part IX of the Companies Act, 1956 alongwith all its assets and
liabilities, including brands and trademarks etc.
CONTINGENT LIABILITIES
|
Particulars |
As on 31.03.2010 Rs. in millions |
|
Amounts payable to the extent Bank
Guarantees |
5.043 |
|
Letter of Credits given by Bank |
38.688 |
|
Tax Disputes |
3.467 |
|
Income Tax AY 2006-07 (CIT Appeals) 0.000 |
|
|
Income Tax AY 2007-08 (CIT Appeals) 3.384 |
|
|
Excise FY 1999-00 (CESTAT Mumbai) 0.083 |
|
|
Estimated amounts of Contracts on Capital
assets |
10.169 |
|
Total |
57.367 |
FORM 8
|
Corporate identity number of the company |
U25203PN2009PTC135094 |
|
Name of the company |
KOTHARI AGRITECH PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in |
Plot No. 146 to 157, Chandramauli Industrial Co-Operative Estate,
Mohol, District Solapur – 413 213, |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10198183 |
|
Type of charge |
·
Immovable property ·
Book debts ·
Movable property (not being pledge) |
|
Particular of charge holder |
State Bank of Rajamati Bhavan, Bhusar Peth, Mohol, Solapur – 413 213, E-Mail : sbi.00288@sbi.co.in |
|
Nature of instrument creating charge |
1. Deed of Mortgage (Simple Mortgage) 2. Deed of Further Charge 3. Supplemental Agreement of Loan-cum-Hypothecation (All deeds constitute single modification) |
|
Date of instrument Creating the charge |
17.10.2011 |
|
Amount secured by the charge |
Rs.745.500 millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest 1. Existing TL of Rs.53.500 millions @ 11.50%p.a.; 2. Existing TL of
Rs.17.000 millions @14.50%p.a.; 3. Existing TL of Rs.150.000 millions
@11.50%p.a; 4. New Term Loan of 45.000 millions @14.50%p.a.; 5. Working
Capital of 200.000 millions @ 14.00%p.a. Terms of Repayment 1) Existing TL of Rs.53.500 millions in 57 installments of which 56
installment of Rs.0.925 million and 57th of Rs.0.775 million. 2) Existing TL
of Rs.17.000 millions in 59 installments of Rs.0.285 million each and 59th of
Rs.0.185 million. 3) Existing TL of Rs.150.000 millions in 57 monthly
installments of which 3 installments of Rs.5.557 million each and 48
installments of Rs.2.775 million. 4) New TL of Rs.45.000 millions in 55 EMI
of Rs.0.800 million each and 55th of 1.000 million. Margin Nil Extent and Operation of the charge To the extent of amount borrowed and interest thereon. |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
·
195 sq mtrs in the name of Kiran Kothari bearing
CS No. 1568/11, Plot No. 13, (Gat No. 132/I) situated within limit of village
Modnimb, Taluka Madha, District Solapur. ·
Plot no 116,117,123 to 125,139,166 to 168,185 to
189, 193; 3. 290.82 sq. mtrs. in the name of Kiran Kothari and Ujwal Kothari
bearing H NO 1315/4 CS No.1315 Plot no 11 Gat no 229 at Station Road Village
Modnimb, Taluka Madha, District Solapur; ·
175.7 sq. mtrs. in the name of Arvind Kothari
bearing H NO 1251 at ·
85.76 Sq mts in the name of Ujwal Kothari bearing
Flat no F-6 on the 2nd floor of Parshwanth Apartment, situtated at
Budhwar Peth Samrat Chowk Solapur; ·
478.06 sq mtr in the name of Ujwal Kothari
bearing no. TP Scheme No. IV, CTS No. 8927/A/1-26 Plot No.31, Sub Plot No.26
near Parshwanath Apartment situated at Budhwar Peth Solapur; ·
Gat No. 352/1, 4 H 91 R including 25 R in the
name of Ujwal Kothari and Kiran Kothari Situated at Village Yavalli, Taluka
Mohol, District Solapur, ·
2402.78 Sq mtr in the name of Arvind kothari
bearing Flat no F2 on CTS No 8338/A/2/2; ·
478.06 sq mtr in the name of Kiran Kothari
bearing CTS No 8927/A/1-26 Plot No.31,Sub Plot No.26 situated at Parshwanth
appartment, Budhwar Peth Solapur; ·
Land bearing Gat no 49 3 H 72 R including 32 R
and Plant and Machinery and Equipments owned by Company ·
Hypothecation of Stocks, Book Debts and other
current assets; Documents of title of goods under DA/DP Bills; Registered
Mortgage of office at Sun Plaza CTS No.8516/11, ·
Flat no.T-2 to T-9, Lucky Chowk, Solapur built up
area 186.35 sq.mtr and 1400 sq. ft. Additional set of new plant and machinery
and office to be purchased from the Bank finance. Leasehold plot 146 to 157
and 190 to 192 and 169 and 138 Building Chandramauli Industrial Co-operative
Estate at post Mohol, District-Solapur and other immovable properties |
|
Particulars of the present modification |
By this present modification- 1) New Term Loan of Rs.45.000 millions
is availed. 2) Working Capital is increased from Rs.90.000 millions to
Rs.200.000 millions. 3) LC is increased from Rs.250.000 millions to
Rs.270.000 millions. Previous Facility of SLC of Rs.10.000 millions is
cancelled. Thus, total credit exposure is enhanced by Rs.175.000 millions to
745.500 millions. Also additional securities by way of Mortgage and
Hypothecation is provided. |
FIXED ASSETS
·
Land
·
Building (other than
Factory)
·
·
Plant and Machinery
(NESD)
·
Furniture and Fixtures
·
Cycles (NSED)
·
Motor-cars, motor-cycles,
scooters and other mopeds (NESD)
·
Plant and Machinery
(Triple Shift)
·
Data processing machines
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.51.35 |
|
|
1 |
Rs.80.50 |
|
Euro |
1 |
Rs.69.14 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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.