MIRA INFORM REPORT

 

 

Report Date :

07.01.2011

 

IDENTIFICATION DETAILS

 

Name :

EPSON INDIA PRIVATE LIMITED

 

 

Registered Office :

12th Floor, The Millenia Tower – A, No.1, Murphy Road, Ulsoor, Bangalore – 560 001, Karnataka

 

 

Country :

India

 

 

Financials (as on) :

31.03.2010

 

 

Date of Incorporation :

09.10.2000

 

 

Com. Reg. No.:

08-027925

 

 

CIN No.:

[Company Identification No.]

U72900KA2000PTC027925

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

BLRE00749A

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Trader of input and output imaging devices like inkjet printers, dot matrix printers, lasers, scanners and LCD Projectors.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (45)

 

RATING

STATUS

 

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 1764000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

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

 

Country Name

Previous Rating

(31.12.2009)

Current Rating

(01.04.2010)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

INFORMATION DECLINED BY

 

Name :

Mr. Sanjeev

Designation :

Finance Manager

Contact No.:

91-80-30515000

Date :

06.01.2011

 

 

LOCATIONS

 

Registered/ Corporate Office :

12th Floor, The Millenia Tower – A, No.1, Murphy Road, Ulsoor, Bangalore – 560 001, Karnataka, India

Tel. No.:

91-80-30515000/ 30515054

Fax No.:

91-80-30515005

E-Mail :

ashokkumard@eid.epson.co.in

Website :

http://www.epson.co.in

 

 

Regional Office :

Located at:

 

·         Ahmedabad

·         Chennai

·         Cochin

·         Coimbatore

·         Delhi

·         Hyderabad

·         Secunderabad 

·         Indore

·         Kolkata

·         Mumbai 

·         Pune 

 

 

DIRECTORS

 

As on 02.07.2010

 

Name :

Eiji Kato

Designation :

Director

Address :

Civic Park, 63, Soi Thonglor, Sukumvit 55, Klongton – Nua Wattana, Bangkok, Thailand 10110

Date of Birth/Age :

09.02.1961

Date of Appointment :

01.04.2009

DIN or Income-tax PAN :

02566212

 

 

Name :

Eiji Ide

Designation :

Director

Address :

1003, Bukit Timah Road, # 06-01, The Sterling, Tower – B, Singapore 596289

Date of Birth/Age :

06.07.1952

Date of Appointment :

02.07.2010

DIN or Income-tax PAN :

02795134

 

 

Name :

Takara Katsuyoshi

Designation :

Managing Director

Address :

263, River Valley Road, # 06-18, Aspen Heights, Singapore 238309

Date of Birth/Age :

11.09.1962

Date of Appointment :

01.06.2007

DIN or Income-tax PAN :

01490650

 

 

Name :

Hisashi Shimizu

Designation :

Director

Address :

15-Cairnhil Road, # 31-06, Somerset Grand Cairnhil, Singapore 229650

Date of Birth/Age :

06.061952

Date of Appointment :

18.03.2006

Date of Ceasing :

01.10.2009

 

 

KEY EXECUTIVES

 

Name :

Mr. Sanjeev

Designation :

Finance Manager

 

 

Name :

Mr. Ashok Kumar Das

Designation :

Secretary

Address :

A-1, Shakti Enclave, 10th Main, 11th Cross, Malleshpalya, Bangalore – 560 075, Karnataka, India

Date of Birth/Age :

13.01.1970

Date of Appointment :

13.02.2007

DIN or Income-tax PAN :

AKNPD0748H

 

 

Name :

Mr. T. Sukumar

Designation :

Deputy Country Manager

 

 

Name :

Mr. N. Sambamoorthy

Designation :

Senior General Manager (Business and Consumer Products)

 

 

Name :

Mr. P. Satyanarayana

Designation :

General Manager Sales – ISBS

 

 

Name :

Mr. R.V. Ramprasad

Designation :

General Manager Sales – West and South

 

 

Name :

Mr. G. Vijaya Kumar

Designation :

General Manager – Customer Support

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 02.07.2010

 

Names of Shareholders

 

 

No. of Shares

Epson Singapore Pte Limited, Singapore

 

10862860

Seiko Epson Corporation, Japan

 

1

Total

 

10862861

 

As on 02.07.2010

 

Equity Share Breakup

 

Percentage of Holding

Category

 

 

Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]

 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Trader of input and output imaging devices like inkjet printers, dot matrix printers, lasers, scanners and LCD Projectors.

 

 

Products :

Item Code No. (ITC Code)

8443.32

Product Description

Printers

Item Code No. (ITC Code)

8528.69

Product Description

Printer Ink Cartridges

Item Code No. (ITC Code)

8473.30

Product Description

Printer Spares

 

 

GENERAL INFORMATION

 

No. of Employees :

Information declined by the management

 

 

Bankers :

The Mizuho Corporation Bank Limited, Maker Chambers III, 1st Floor, Nariman Point, Mumbai – 400 021, Maharashtra, India 

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

S.R. Batliboi and Associates

Chartered Accountants

Address :

12th and 13th Floor, UB City, Canberra Block, No.-24, Vittal Mallya Road, Bengalure – 560 001, Karnataka, India

Tel. No.:

91-80-40275000

Fax No.:

91-80-22106000

Income-tax PAN of auditor or auditor's firm :

AABFS3421N

 

 

Ultimate Holding Company :

Seiko Epson Corporation, Japan

 

 

Holding Company :

Epson Singapore Pte Limited, Singapore

Address: No.1, Harbourfront Place, # 03-02, Harbourfront, Tower One, Singapore 098633

 

 

Fellow Subsidiaries : 

  • Pt. Epson Indonesia
  • Seiko India Private Limited
  • Seiko Hong Kong Limited
  • Epson Thailand Company Limited, Thailand
  • Epson Deutschland GMBH, Germany

 

 

CAPITAL STRUCTURE

 

As on 02.07.2010

 

Authorised Capital :

No. of Shares

Type

Value

Amount

12000000

Equity Shares

Rs.10/- each

Rs.120.000 millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

10862861

Equity Shares

Rs.10/- each

Rs.108.629 millions

 

 

 

 

 

(Of the above, 10862860 shares are held by Epson Singapore Pte. Limited, Singapore, the holding company and 1 share is held by Seiko Epson Corporation, Japan, the Ultimate Holding Company)


 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2010

31.03.2009

31.03.2008

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

108.629

108.629

108.629

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

332.312

267.087

229.818

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

440.941

375.716

338.447

LOAN FUNDS

 

 

 

1] Secured Loans

0.000

0.000

0.000

2] Unsecured Loans

0.000

0.000

0.000

TOTAL BORROWING

0.000

0.000

0.000

DEFERRED TAX LIABILITIES

0.000

0.000

0.000

 

 

 

 

TOTAL

440.941

375.716

338.447

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

14.873

13.666

16.832

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

0.000

0.000

0.000

DEFERREX TAX ASSETS

51.416

49.242

47.821

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
492.088

204.234

103.470

 

Sundry Debtors
57.604

167.136

144.778

 

Cash & Bank Balances
814.839

691.736

625.278

 

Other Current Assets
1.091

1.052

14.012

 

Loans & Advances
119.148

58.163

34.293

Total Current Assets
1484.770

1122.321

921.831

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors
802.983

588.066

307.126

 

Other Current Liabilities
163.612

90.123

212.854

 

Provisions
143.523

131.324

128.057

Total Current Liabilities
1110.118

809.513

648.037

Net Current Assets
374.652

312.808

273.794

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

440.941

375.716

338.447

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2010

31.03.2009

31.03.2008

 

SALES

 

 

 

 

 

Income

3820.870

3069.480

2814.190

 

 

Other Income

24.620

35.660

68.760

 

 

TOTAL                                    

3845.490

3105.140

2882.950

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Office Expenses

3739.730

3031.240

2782.640

 

 

Administrative Expenses

 

 

 

 

 

Advertising Expenses

 

 

 

 

 

TOTAL                                    

3739.730

3031.240

2782.640

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION

105.760

73.900

100.310

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

4.740

6.620

6.690

 

 

 

 

 

 

PROFIT BEFORE TAX

101.020

67.280

93.620

 

 

 

 

 

Less

TAX                                                                 

35.800

30.010

37.390

 

 

 

 

 

 

PROFIT AFTER TAX

65.220

37.270

56.230

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

267.090

229.820

173.590

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

332.310

267.090

229.820

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

FOB Values of Exports

390.243

164.993

138.082

 

 

Sales and Marketing Support

4.423

5.311

3.126

 

 

Commission

13.007

8.709

9.433

 

TOTAL EARNINGS

407.673

179.013

150.641

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Traded Goods (Including goods in transit)

3022.879

2036.643

1718.628

 

TOTAL IMPORTS

3022.879

2036.643

1718.628

 

 

 

 

 

 

Earnings Per Share (Rs.)

6.00

3.43

5.18

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2010

31.03.2009

31.03.2008

PAT / Total Income

(%)
1.70

1.20

1.95

 

 
 

 

 

Net Profit Margin

(PBT/Sales)

(%)
2.64

2.19

3.33

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
6.74

5.92

9.97

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
0.23

0.18

0.28

 

 
 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 
2.52

2.15

1.91

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
1.34

1.39

1.42

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Details of Sundry Creditors:

 

Particulars

 

31.03.2010

(Rs. in millions)

31.03.2009

(Rs. in millions)

31.03.2008

(Rs. in millions)

Sundry Creditors for Goods, Services and Expenses

 

 

 

- Due to micro and small enterprises

--

--

--

- Due to others

802.983

588.066

307.126

 

BACKGROUND:

 

The company was incorporated on October 9, 2000. The company is subsidiary of Epson Singapore Pte. Limited (“EPSON SINGAPORE”) which is an affiliate of Seiko Epson Corporation, Japan (“SEIKO EPSON”). The company is engaged in the trading business of input and output imaging devices like inkjet printers, dot matrix printers, lasers, scanners and LCD Projectors which are manufactured by SEIKO EPSON. 

 

BUSINESS:

 

The overall business of the company showed was excellent during the year. The sale during the year was increased by approximately 24%. Due to efficient sales and management policies the company has posted a healthy profit despite stiff competition and high inflation in the economy. The company remains optimistic about the long-term opportunities and is confident of achieving still better results.

 

Name of the company

EPSON INDIA PRIVATE LIMITED

Presented By

V. Srinivasan

Company Secretary

1) Date and description of instrument creating the change

22nd November, 2002

Agreement of Hypothecation of Stocks-in-Trade and Book Debts and other Moveable Assets.

2) Amount secured by the charge/amount owing on the securities of charge

By way of Overdrafts, demand loans, loans, Cash Credit (by way of pledge lock and key type, factory type or mundy type or by way of hypothecation or in any other form including working capital term loan) Term Loans (including funding of interest or in other form including working capital term loan) Pre-shipment and post shipment credits, L/C, issuing of guarantees including deferred payment guarantees and indemnities, negotiation and discounting bills and cheques, inland as well as foreign, and such other facilities as may be agreed upon from time to time between the Bank and the Borrower sum not exceeding in aggregate the sum of Rs.292.000 millions.

3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given

a) All present and future goods and Book-Debts of the Borrower including documents of title to goods, outstanding moneys, receivables including receivables

by way of Cash assistance and/or cash incentives under the listed in the schedule Cash incentive Scheme or any other Scheme claims including claims by way of refund of custom/excise duties under the Duty Drawback, Credit Scheme, bills, invoices, documents, contracts, insurance policies, guarantees, engagements, securities, investments and rights listed in the schedule hereunto and whether in the possession or under the control of the Borrower wherever lying stored and kept and whether in possession of the Borrower or of the Bank or of any third party whether in India or elsewhere throughout the world (including all such goods, other movable assets as may be in course of shipment transit or delivery) shall stand hypothecated to the Bank by way of first charge (subject, however, to any charge in favour of any third party which may have been notified by the Borrower and accepted by the Bank as having priority over its own charge) as security for payment of Rs.292.000 millions.

4) Gist of the terms and conditions and extent and operation of the charge.

Interest shall be charged on the out standings at such rate or rates as may be determined by the bank from time to time at the Bank’s sole discretion on the basis of any internal credit rating accorded to the Borrower or other provided that the rate(s) shall be subject to changes in the Prime Lending Rate of the Bank and/or other changes in interest rates prescribed by RBI of India from time to time.

(other terms—as mentioned in the Hypothecation Agreement dated 22.11.2002)

5) Name and Address and description of the person entitled to the charge.

The Mizuho Corporation Bank Limited, Maker Chambers III, 1st Floor, Nariman Point, Mumbai – 400 021, Maharashtra, India 

6) Date  and brief description of instrument modifying the charge

Agreement of Hypothecation dated 22nd November, 2002.

7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.

Nil

 

CONTINGENT LIABILITIES:

 

Particulars

31.03.2010

(Rs. in millions)

Bank guarantee

8.835

Claim against the company not acknowledged as debts (sales tax/ entry tax matters disputed by the company which are pending in appeal)

4.387

 

 

 

FIXED ASSETS:

 

·         Furniture and Fittings

·         Computers

·         Office Equipments

·         Motor Vehicles

 

WEBSITE DETAILS:

 

EPSON

 

Epson, which is part of Seiko Epson Corporation, Japan, is a Total Digital Imaging Solutions company. It manufactures the entire range of input and output imaging devices like inkjet printers, dot matrix printers, lasers, scanners, and LCD projectors. Epson's product portfolio also includes Systems and Crystal Devices, Integrated Circuits, Optical products, factory automation systems and watches.

 

Epson has developed a reputation as a visionary company with a commitment to developing technologies that enhance multiple aspects of people's lives.


EPSON INDIA

 

Subject is a 100% subsidiary of Epson Singapore Pte Limited which is an affiliate of Seiko Epson Corporation, Japan.

 

Meeting the demands of a fast growing market is always challenging. EPSON'S success in India is a measure of not just ground-breaking technology, but also its understanding of the Indian consumer. The endeavor is to provide all-round imaging solutions to those who need it - whether it's for the home, office or studio.

 

In the world of digital imaging, Epson has always led the revolution. Brilliant innovations that give the photo enthusiast and professional the power to create or re-create the images of life. The colour, the light, the reality. Just as life is. Just as perfect imaging should be.

 

Epson is constantly trying to improve on the natural methods of imaging and reproduction. 5760 optimized dpi resolution, exclusive 6 color photo printers for the professionals, Borderless Printing, 80 years light fastness, PRINT Image Matching Technology ideal for digital camera users who want faithful reproductions of images, high resolution, international award-winning scanners, world's highest selling LCD technology for projectors, highly reliable Dot Matrix Printers....the list is endless.

 

In India, Epson has the distinction of having an impressive client portfolio for its imaging products. These include leading ad agencies, graphic artists, architects, top photographers, film producers, directors, large studios and corporates.

 

Epson Support

At Epson, they believe that no sale is complete without after-sales service. Epson India Private Limited has invested heavily in Service and Support infrastructure. They have 169 service centers covering 134 cities.

 

NEWS RELEASE

 

09-12-2010

 

NEW EPSON HOME THEATRE PROJECTORS PROVIDE MOVIE AFICIONADOS A PROFESSIONAL HIGH DEFINITION HOME THEATRE EXPERIENCE

 

New Epson EH-TW3500 and EH-TW4500 home projectors lead class with new and improved technology for the ultimate home theater experience

 

Bangalore, Dec 2009 – Epson, a world leader in digital imaging and printing solutions and the world’s number 1 projector maker (1), has launched its newest range of high definition home theatre projectors – the Epson EH-TW3500 and the high end Epson EH-TW4500 that will allow home users to enjoy the highest level of home entertainment experience with smoother, clearer image projection and improved video processing capabilities.

 

The new range of projectors features Epson’s advanced Auto Iris Technology, which generates sharper images with a contrast ratio that is two times higher than that of the previous models. Other new features introduced for these projectors include Refined Frame Interpolation, Super Resolution and Real Colour Reproduction technologies.

 

“Epson’s philosophy has always been to innovate and design unique product features in line with ever changing consumer needs,” comments Mr. Samba Moorthy, Sr GM. “With the combination of various proprietary technologies, we believe that the new series of Epson home theatre projectors will provide its users with unrivaled projection quality and value to enrich their viewing experience.”

 

Features of the Epson EH-TW3500 and EH-TW4500

 

Smoother Image Reproduction with 3LCD Technology – Epson’s proprietary 3LCD technology offers full-time colour projection with three separate LCD panels (Red, Green and Blue) thus ensuring smooth projection of image without colour breakup (commonly known as rainbow effect), distorted image patterns and visual fatigue, making it ideal for usage in home theatre environment. The three chip engine also delivers incredibly bright images and accurate colours that give a touch of realism in every image depicted. The success and road tested reliability of the 3LCD technology is marked by the milestone of 60 million 3LCD chips having been shippedto date.

 

E-TORL – The proprietary Epson Twin Optimized Reflection Lamp (E-TORL) features an elliptically-shaped reflector that helps to improve energy efficiency by 20%, resulting in significant energy savings and prolonged lamp life as compared to conventional lamps. Users enjoy cost savings through lower electricity consumption and more reliable projector system with longer lamp lifespan. The small yet bright 200W lamp is capable of projecting an impressive 1800 lumens (lm) and 1600 lm from the Epson EH-TW3500 and EH-TW4500 respectively.

 

Advanced Auto Iris Technology – The advanced Auto Iris technology has allowed contrast ratio for the new models to be increased dramatically – twice as much as the previous models, resulting in sharper visuals with ultimate precision and heightened sensations with improved depth of field and three-dimension appearance.

 

Real Colour Reproduction – The newly developed colour processing algorithm featured in the projectors reproduces primary colours from input source to projected images with supreme precision, resulting in more accurate and natural colours that produce true-to-life projections.

 

Version 1.3a HDMI port – The built-in version 1.3a HDMI interface of the projectors is capable of transmitting nearly double the amount of information as compared to previous HDMI versions resulting in the expansion of colours in display.

 

Additional features of Epson EH-TW4500

 

Dual Layered Auto Iris Technology – Epson’s revolutionary Double layered Auto Iris featured in the Epson EH-TW4500 controls the light intensity more effectively and is capable of making a dark image even darker, creating the world’s highest contrast ratio for a projector of up to 200,000:1.

 

Super High Resolution – Super resolution technology automatically detects blurred sections of an image and uses a mixed colour separation process to achieve sharper and refined image quality in Full High Definition projection.

 

Refined Frame Interpolation - Frame interpolation technology inserts new frames between original frames. As a result, blurring effects are suppressed and motion pictures look much smoother and sharper.

 

Crystal Clear Fine (C2 FINE) Technology – The C2 FINE Technology delivers projections that are lustrous, high contrast and high quality through inorganic alignment layer and vertical alignment technology.

 

DEEPBLACK Technology – With this technology, the Epson EH-TW-4500 can regulate image contrast and brightness – white scenes can be deliberately brightened while dark scenes can be richly deepened, creating a dynamic colour contrast.

 

HQV Reon VX Chip – Epson’s projectors are equipped with the D5s technology which is custom-engineered to reduce image “noise,” thereby reproducing clear and smooth images for enhanced viewing pleasure.

 

Key Specifications

 

 

Epson EH-TW3500

Epson EH-TW4500

Projection Technology

3LCD

Lens Shift Range

Vertical: -96.3% to +96.3% (H Center, Manual)

Horizontal: 47.1% to +47.1% (V Center, Manual)

Resolution

1920 X 1080 (HDTV)

Screen Size

30 to 300 inch

(0.87 to 9.03m)

Brightness

1800 lm

1600 lm

Contrast

36000:1

200000:1

HDMI input

Version 1.3a

Super Resolution

No

Yes

Deep Black Technology

No

Yes

Frame Interpolation

No

Yes

 

Priced at Rs. 133,000 (Epson EH-TW3500) and Rs. 202,500 (Epson EH-TW4500), the new projectors will be available from December 2009.

 

 

(1) Based on independent research by FutureSource Consulting, Epson has been the world’s no. 1 projector maker for the past 8 consecutive years.

(2) Cited from 3LCD Business Centre Press Release: 3LCD Achieves Projection Industry Milestone: 60 Million Chips Shipped, 12 October 2009

 

About the Epson Group

 

Epson is a global imaging and innovation leader that is dedicated to exceeding the vision of customers worldwide through its compact, energy-saving, high-precision technologies, with a product lineup ranging from printers and 3LCD projectors for business and the home, to electronic and crystal devices.

 

Led by the Japan-based Seiko Epson Corporation, the Epson Group comprises over 70,000 employees in 106 companies around the world, and is proud of its ongoing contributions to the global environment and the communities in which it operates. . http://www.epson.co.jp/e

 

About Epson India

 

Epson India Private Limited was incorporated in the year 2000. Present in every major city in the country, Epson products address the needs of the entire computer peripheral market as also those of consumers with specialized needs. Headquartered in Bangalore, Epson India today has an enviable reputation for quality and value. The company markets and supports Epson Dot-Matrix Printers, Inkjet Printers, Inkjet All-in-Ones, Laser Printers, Point of Sale Printers and Systems, Scanners and LCD Projectors. In most of these categories Epson is either the No.1 or No.2 brand and growing fast.

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.45.31

UK Pound

1

Rs.70.26

Euro

1

Rs.59.56

 

 

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

NO

--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

-

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.