MIRA
INFORM REPORT
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Report Date : |
05.01.2011 |
Note:
The Factory has been shifted from 81/4, Phase1, Vatva GIDC, Ahmedabad-382445 to present address
IDENTIFICATION DETAILS
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Name : |
MAMATA HYDCO PRIVATE LIMITED |
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Registered Office : |
53, Madhuban, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
28.03.2007 |
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Com. Reg. No.: |
GJ-050353 |
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CIN No.: [Company
Identification No.] |
U29249GJ2007PTC050353 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMM08065B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacture and Exporter of Drill Rig. |
RATING & COMMENTS
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MIRA’s Rating : |
B (26) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 540000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. However trade relations are reported as
fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution.
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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 |
INFORMATION PARTED BY
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Name : |
Mr. Kirit Chavda |
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Designation : |
Accounts Department |
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Date : |
04.01.2011 |
LOCATIONS
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Registered Office : |
53, Madhuban, |
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Tel. No.: |
91-79-26440331 |
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Fax No.: |
91-79-26421324 |
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E-Mail : |
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Website : |
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Area: |
Owned |
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Factory : |
Survey No. 928/1, Near Geb Sub Station, |
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Tel. No.: |
91-2764-233272 |
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Area : |
Owned |
DIRECTORS
As on 30.09.2010
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Name : |
Mr. Clive Ross Hutton |
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Designation : |
Director |
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Address : |
105, Lather Road, Bellbowerie,
Queensland-4070, |
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Date of Birth/Age : |
16.03.1948 |
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Date of Appointment : |
28.03.2007 |
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Name : |
Mr. Charles Ian Pitchers |
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Designation : |
Director |
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Address : |
1 8, Rugh Miller Close, Fig Tree Pocket,
Queensland-4069, |
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Date of Birth/Age : |
19.06.1957 |
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Date of Appointment : |
28.03.2007 |
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Name : |
Mr. Johan Michael Ilett |
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Designation : |
Director |
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Address : |
47, Kimmins Street, Camira,
Queensland-4300, |
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Date of Birth/Age : |
13.12.1965 |
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Date of Appointment : |
28.03.2007 |
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Name : |
Mr. Chandrakant B Patel |
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Designation : |
Managing Director |
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Address : |
100, Surdhara Bunglows,
Drive-In road, Ahmedabad-380054, |
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Date of Birth/Age : |
10.01.1954 |
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Date of Appointment : |
12.08.2008 |
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Name : |
Mr. Mahendra N Patel |
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Designation : |
Director |
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Address : |
15, Kairavi Bungalows, Near Sarthi Hotel, Boadkdev,
Ahmedabad-380054, |
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Date of Birth/Age : |
17.01.1949 |
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Date of Appointment : |
02.07.2007 |
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Name : |
Mr. Prashant H Pandaya
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Designation : |
Director |
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Name : |
Mr. Mahendra N Patel |
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Designation : |
Director |
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Address : |
15, Kairavi Bunglows,
Near Sarthi Hotel, Bodakdev,
Ahmedabad-380054, |
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Date of Birth/Age : |
17.01.1949 |
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Date of Appointment : |
28.03.2007 |
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Date of Ceasing: |
29.03.2007 |
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Other Directorship: |
·
Mamata Machinery
Private Limited U29259GJ1979PTC003363 ·
Mamata Brampton
Engineering Private Limited U29212GJ1997PTC031529 ·
Mamata Energy Private
Limited U40106GJ2001PTC039173 ·
KHS Machinery Private Limited U29199GJ1997PTC032397 ·
Sunpack Barrier Films
Private Limited U25202GJ2004PTC045123 ·
Kloeckner Desma Machinery Private Limited U28999GJ1995PTC025601 ·
Mamata – Span Flexopack Private Limited U25202GJ2006PTC047451 ·
Ferromatik Milacron India
Limited U74999GJ1995PLC025783 ·
Sourcepro Finbvest Private Limited U67120GJ1994PTC023102 ·
Sun Corporate Services Private Limited U65910GJ1993PTC019248 ·
Vibrations Infotals
Private Limited U72200GJ2000PTC038028 ·
Natraj Finsec ( U65999GJ2004PTC044563 ·
Mamata Pyron Solar Private Limited U40106GJ2006PTC049596 |
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|
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Name : |
Mr. Manish M Patel |
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Designation : |
Director |
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Address : |
15, Kairavi Bunglows,
Near Sarthi Hotel, Bodakdev,
Ahmedabad-380054, |
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Date of Birth/Age : |
19.06.1980 |
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Date of Appointment : |
28.03.2007 |
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Dater of Ceasing: |
02.06.2007 |
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Other Directorship: |
·
Mamata Machinery
Private Limited U29259GJ1979PTC003363 ·
Mamata Brampton
Engineering Private Limited U29212GJ1997PTC031529 ·
Mamata Energy Private
Limited U40106GJ2001PTC039173 ·
Sunpack Barrier Films
Private Limited U25202GJ2004PTC045123 ·
Ferromatik Milacron India
Limited U74999GJ1995PLC025783 ·
Sourcepro Finbvest Private Limited U67120GJ1994PTC023102 ·
Mamata Pyron Solar Private Limited U40106GJ2006PTC049596 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
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Names of Shareholders |
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No. of Shares |
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N Mahendra Patel |
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2586213 |
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Data Innovation India Private Limited, |
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776270 |
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Hutton Ross Clive |
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1601342 |
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Patel Chandrakant |
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99300 |
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Cygnus Pty. Limited, |
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2538124 |
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Ross Clive Hutton |
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1327717 |
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Ian Charles Pitcherlindal Kay Pitcher |
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1094159 |
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Trevor John Smitham Christine Dawn Smitham |
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1059728 |
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Rincewind Pty Limited, |
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1094159 |
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Total |
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12177012 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2010
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Category |
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Percentage of
Holding |
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Foreign holdings (Foreign institutional investor (s), Foreign comapnie(s) Foreign financial institution(s),
Non-resident Indian(s) or overseas corporate bodies or others) |
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58.43 |
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Bodies corporate (not mentioned above) |
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6.37 |
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Directors or relatives of directors |
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35.20 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacture and Exporter of Drill Rig. |
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Products : |
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Exports : |
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Products : |
Drill Rig |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
PRODUCTION STATUS
As on 31.03.2010
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Particulars |
Unit |
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Actual
Production |
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Nos. |
Rs, |
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Drilling Rigs |
Nos. |
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2 |
-- |
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Casing Puller |
Nos. |
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0 |
-- |
GENERAL INFORMATION
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No. of Employees : |
Approximately 72 (Office 10, Factory 62) |
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Bankers : |
State Bank of |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Dinesh R Shah and Company Chartered Accountant |
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Address : |
51, Madhuban, Near Madalpur
Uinderbridge, Ellisbridge,
Ahmedabad-380006, |
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Group Companies : |
·
Hydco International, ·
Mamta Machinery Private Limited ·
Mamta Airways ·
Hydrolic Contracting and
Supply Pty. Limited |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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15000000 |
Equity Shares |
Rs. 10/- each |
Rs. 150.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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12177012 |
Equity Shares |
Rs. 10/- each |
Rs. 121.770 Millions |
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As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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4000000 |
Equity Shares |
Rs. 10/- each |
Rs. 40.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10575670 |
Equity Shares |
Rs. 10/- each |
Rs. 105.757 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 |
105.757 |
40.000 |
11.427 |
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2] Share Application Money |
15.973 |
27.000 |
0.000 |
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3] Reserves & Surplus |
13.512 |
5.757 |
0.994 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
135.242 |
72.757 |
12.421 |
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LOAN FUNDS |
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1] Secured Loans |
64.509 |
47.747 |
41.619 |
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2] Unsecured Loans |
20.059 |
0.000 |
0.000 |
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TOTAL BORROWING |
84.568 |
47.747 |
41.619 |
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DEFERRED TAX LIABILITIES |
0.101 |
0.000 |
0.000 |
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TOTAL |
219.911 |
120.504 |
54.040 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
27.215 |
3.700 |
2.664 |
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Capital work-in-progress |
179.117 |
119.129 |
30.416 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.370 |
0.116 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
26.853
|
36.288
|
27.192 |
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Sundry Debtors |
0.000
|
0.000
|
0.000 |
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Cash & Bank Balances |
7.830
|
5.085
|
7.572 |
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Other Current Assets |
0.000
|
0.000
|
0.000 |
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Loans & Advances |
17.218
|
22.276
|
24.101 |
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Total
Current Assets |
51.901
|
63.649
|
58.865 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
19.662 |
22.743 |
13.423 |
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Other Current Liabilities |
38.376
|
51.092
|
27.481 |
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Provisions |
0.400
|
2.312
|
0.485 |
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Total
Current Liabilities |
58.438
|
76.147
|
41.389 |
|
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Net Current Assets |
[6.537]
|
[12.498]
|
17.476 |
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MISCELLANEOUS EXPENSES |
20.116 |
9.803 |
3.368 |
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TOTAL |
219.911 |
120.504 |
54.040 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
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|
30.185 |
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Other Income |
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TOTAL (A) |
48.016 |
56.438 |
30.185 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
|
47.773 |
28.263 |
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Advertising Expenses |
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TOTAL (B) |
44.303 |
47.773 |
28.263 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3.713 |
8.665 |
1.922 |
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Less |
FINANCIAL
EXPENSES (D) |
0.962 |
1.089 |
0.397 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2.751 |
7.576 |
1.525 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.145 |
0.664 |
0.114 |
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PROFIT BEFORE
TAX (E-F) (G) |
1.606 |
6.912 |
1.411 |
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Less |
TAX (I) |
0.872 |
2.149 |
0.417 |
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PROFIT AFTER TAX
(G-I) (J) |
0.734 |
4.763 |
0.994 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
5.757 |
0.994 |
-- |
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BALANCE CARRIED
TO THE B/S |
6.491 |
5.757 |
0.994 |
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EARNINGS IN
FOREIGN CURRENCY |
|
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Export Earnings |
19.800 |
56.154 |
30.184 |
|
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TOTAL EARNINGS |
19.800 |
56.154 |
30.184 |
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IMPORTS |
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Import Value |
7.134 |
30.089 |
32.922 |
|
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TOTAL IMPORTS |
7.134 |
30.089 |
32.922 |
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Earnings Per
Share (Rs.) |
0.07 |
1.19 |
-- |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.53
|
8.44 |
3.29 |
|
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.03
|
10.26 |
2.29 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.01
|
0.10 |
0.11 |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.06
|
1.70 |
6.68 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.89
|
0.84 |
1.42 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
(Rs. In Millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors |
|
|
|
|
Sundry Creditors for Goods |
1.821 |
3.964 |
9.889 |
|
Sundry Crditors fro Capital Expenses |
7.184 |
10.327 |
1.164 |
|
Sundry Creditors for Others |
10.657 |
8.452 |
2.370 |
|
Total |
19.662 |
22.743 |
13.423 |
Trade References:
·
Hydco International Sales Private Limited
Year in Retrospect:
The third year of operation the company has
made a moderate profit of Rs. 7.340 Millions.
In a second year of operation they have
remained profitable and have substantially improved a balance sheet position
and borrowing has increased marginally.
They expect difficult trading conditions to
continue into the year to come with the improvement in market for the products
towards the end of the year.
Contingent Liabilities:
|
Particulars |
31.03.2010 Rs. In Millions |
|
Guarantee for Advance License |
29.035 |
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U29249GJ2007PTC050353 |
|
Name of the
company |
MAMATA HYDCO PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
53, Madhuban, |
|
This form is for |
Creation of
Charge |
|
Type of charge |
Immovable Property |
|
Particular of
charge holder |
State Bank of |
|
Nature of
instrument creating charge |
Memorandum
Relating to Deposit of Title Deeds for Creation of Charge for term Loan
overall limit |
|
Date of
instrument Creating the charge |
01.11.2010 |
|
Amount secured by
the charge |
Rs. 160.000 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest CC: 2.5% above
SBAR Present Rate 15%, Term Loan 1 – 00.75% above SBAR present Rate 13.25%,
Term Loan 2- 2% Above SBAR Present Rate 14.50% Terms of Repayment Working Capital
Repayable on demand, Term Loan -1- 59 Installment of Rs.
0.423 Million asdn 60th Installment of Rs. 0.443 Million to commence from April, 2011, Term Loan
– 2- 59 Installments of Rs. 1.077 Millions and 60th
Installments of Rs. 1.057 Millions – to commence
from April 2011 Margin RM – 10%,
SIP-25%, Book Debts – 50%, L/C and BG- 20% Extent and
Operation of the charge 1st
and Exclusive charge of State Bank of Others The charge on immovable
properties to secure : 1) EPC/ PCFC – Rs. 50.000
Millions (Including of CC Rs. 10.000 Millions) 2)
Term Loan – 1 Rs. 25.400 Millions 3) Term Loan – 2 Rs. 64.600 Millions 4) L/C Rs.
15.000 Millions and 5) BG Rs. 5.000 Millions to
Total Rs. 160.000 Millions |
|
Short particulars
of the property charged |
All that piece
and parcel of freehold N.A. Land bearing block no. 928 (Paiki)
ADM. 9900 Sq.mtrs. at Mouje
Chhatral, TA, Kalol,
District Gandhinagar with all superstructures
standing thereon. |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10067727 |
|
Corporate
identity number of the company |
U29249GJ2007PTC050353 |
|
Name of the
company |
MAMATA HYDCO PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
53, Madhuban, |
|
Type of charge |
Book Debts Movable Property |
|
Particular of
charge holder |
State Bank of |
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental
Agreement of Loan cum Hypothecation and letter of Agreement both documents
creating a single charge. |
|
Date of
instrument Creating the charge |
13.05.2009 |
|
Amount secured by
the charge |
Rs. 249.300 Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Term Loan:
Interest at 2% above State Bank Advance Rate (SBAR) (SBAR – 12.25% w.e.f. 01.01.2009), i.e. 14.25% EPC/PCFC : As per SBI
Exporter Gold Card Scheme/ RBI/ Bank’s Instruction Terms of
Repayment Working Capital
Repayable on Demand Term Loan (a) For
Existing : As per Last Sanction (b) For New MTL Rs. 138.500 Million in 20 quarterly installments
(starting form October 2009) comprising of 8 installments of Rs. 5.000 Millions 11 installment of Rs.
8.200 Millions thereafter and last installments of Rs.
8.300 Millions Margin Fund Based Limit
(a)l Raw Materials: Imported 10% (b) Raw Material:
Indigenous 10% (c) Semi Finished
Goods 25% (d) Receivables
(Cover 45 Days)l 50% (e) Export
Packing Credit 10% Extent and
Operation of the charge First charge in favour of State Bank of |
|
Short particulars
of the property charged |
Hypothecation of all
the present and future stocks, goods, raw material, book debts, movable plant
and machineries and other movable assets |
|
Particulars of
the present modification |
The charge is
mentioned to secure (1) Increase in EPC/PCFC Limit by Rs.
30.000 Millions (2) Fresh Term
Loan of rs. 138.500 Milionis (3) Increase in
Letter of Credit limit by Rs. 9.000 Millions (4) Reduction in
Bank Guarantee limit by Rs. 9.000 Millions and
Reduction in existing term loan by Rs. 9.200
Millions. The overall charge is increased form Rs.
90.000 Million to Rs. 249.300 Millions |
Fixed Assets:
·
Plant and Machinery
·
Electrical Installation
·
Vehicle
·
Office Equipments
·
Furniture and Fixture
·
Computer and Software
AS PER WEBSITE
Company Profile:
With the insatiable demand for large capacity drill rigs
world wide, and faced with numerous capacity and labor restraints in Australia,
Hydco Australia and its business associates
have made a bold move, setting up a large Joint Venture manufacturing facility
in Ahmedabad, India.
Initially 3 machines will be produced in Ahmedabad,
The Hydco 1000H Diamond Rig, The 1000H Multi Purpose
RC/Diamond drill and the Hydco 350 RC, a dedicated
reverse circulation drill. These drilling rig platforms have evolved over 20
years of rugged field evaluation in
Through the JV with the Mamata Group, they have
access to a large pool of engineering designers, which will drive many planned
R AND D projects for product development strategies into the future.
Hydco
Internationals goal is to shorten the lead time for large exploration
drills, producing strong reliable drills that both meet or exceed the
customer’s expectations.
The People
Ross Hutton (Chairman)
B Eng (Min) UQ, M Aus IMM
Ross has over 30 years experience in the mining industry in executive
management, mining and metallurgy and project management.
He has held the positions of V.P [Vice President] for smelting and mining
operations in North America, uperintendent for the
construction of a mine and concentrator in Australia and Project Manager for
the Bankable Feasibility Study for a large Base Metal project in Iran. He is
currently a director of Kagara Zinc Limited; a
successful ASX 200 listed mining company and Drummond Gold Limited.
Mr. Hutton has experience in working with very large projects from conception
to execution and he is backed by a team of Australian mining associates, with
strong links throughout the international mining industry.
Mahendra N.
Patel (Director)
MSc (
Mahendra is chairman and managing director of the Mamata Group India. For the past 25 years his private and
Joint venture Company’s have produced specilised machinery
for the world markets. Company’s such as Ferromatik
Milacron (USA), Klockner (Germany) with Desma and KHS, Brampton (Canada) to name but a few, have
all excelled in India under his guidance along with his own numerous private
companies.
Mahendra brings this wealth of International business
knowledge to Hydco International and his expertise in
producing world class products within Indian, ensures a bright future for Hydco International.
Trevor Smitham
(Director)
Trevor has over 30 years experience in the drilling industry and specialises in hydraulic engineering and manufacturing of
large surface exploration drilling rigs.
In 1987 he established Hydraulic Contracting and Supply Pty Limited, a
privately owned hydraulic manufacturing and design business in
Chandrakant Patel
(Director)
B.E. (Mechanical)
Chandrakant has been part of the Mamata
Group for the past 23 years and is the Executive \ Director of Mamata Machinery Private Limited, Mamata’s
Flagship Company. Chandrakant brings to the group
vast knowledge in heavy engineering and machine manufacturing and his expertise
in doing business in
Ian Pitcher (CEO)
Ian has many years of experience in heavy machinery industry, both in mobile
equipment with Caterpillar NZ and in the mining industry, with Mt Isa Mines and Mary Kathleen Uranium Mine in Queensland
Australia.
He has held senior executive positions at state level within CSR Limited,
His business acumen in supply chain management and product identification for
emerging markets coupled with his mechanical background, will add valuable
impetus to the business development.
Michael Ilett
(Director)
B Bus (Acc), Grad Dip Adv Acc,
Grad Dip App Corp Gov, MBA,
Michael is a Chartered Accountant and a Chartered Secretary with over 15 years
commercial experience in senior administration roles. He was awarded the MBA
medallion from the Brisbane Graduate School of Business and the Australian Dux
prize for applied commercial law in his recently completed Graduate Diploma in
Corporate Governance.
He currently acts as a consultant for a number of Australian public listed
exploration companies and has a track record for listing junior mining
companies on the Australian Securities Exchange. He is the finance director and
is responsible for a range of corporate administration duties including
finance, risk management and stakeholder relations.
Prashant H Pandya (General
Manager -
Bachelor of Engineering (Mechanical) (B.E.Mech)
Prashant leads the team as the General Manager for Mamata Hydco in
During his career he has designed and manufactured complete Process Plant
Equipment and has gained exceptional consulting and business communication
skills, dealing with many multi national organizations. One of the major
undertakings in his recent years was the design and development of the fully
automated Bag and Packaging Systems, which are now imported to over 70
countries around the world.
Prashant’s considerable experience with exposure to
Mechanical design for the Paper and Sugar Processing Industry, Fertilizer and
Petrochemical Projects, Cement Bulk Handling Equipment, Chemical Plants and
Automated Rubber Processing Industry within the Mamata
Group provides an excellent platform for success for Mamata
Hydco
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for
violating money-laundering, anti-corruption or bribery or international
economic or anti-terrorism sanction laws or whose assets were seized, blocked,
frozen or ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair and
reasonable and comparable to compensation paid to others for similar services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.84 |
|
|
1 |
Rs.69.32 |
|
Euro |
1 |
Rs.59.79 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
26 |
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.