MIRA
INFORM REPORT
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Report Date : |
17.01.2011 |
IDENTIFICATION DETAILS
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Name : |
ORION MOTORS PRIVATE LIMITED |
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Registered
Office : |
C-2/392, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
10.09.1999 |
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Com. Reg. No.: |
101508 |
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CIN No.: [Company Identification
No.] |
U34300DL1999PTC101508 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Dealer of Automobiles. |
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 62320 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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 but correct. The company can be considered for small to mediocre business dealings
at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
Note – Management non-cooperative. Name not disclosed
LOCATIONS
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Registered Office : |
C-2/392, |
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Tel. No.: |
91-11-25615364 |
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E-Mail : |
DIRECTORS
AS ON 30.09.2009
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Name : |
Mr. Jagmohan Mahinder Nath Oberoi |
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Designation : |
Director |
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Address : |
C-2/392, |
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Date of Appointment : |
01.11.2003 |
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Name : |
Ms. Rita Oberoi |
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Designation : |
Director |
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Address : |
C-2/392, |
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Date of Appointment : |
01.11.2003 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2009
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Names of Shareholders |
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No. of Shares |
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Mr. Jagmohan Mahinder Nath Oberoi |
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550000 |
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Ms. Rita Oberoi |
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550000 |
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Total |
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1100000 |
AS ON 30.09.2009
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Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Dealer of Automobiles. |
GENERAL INFORMATION
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No. of Employees : |
Not divulged by the management |
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Bankers : |
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Facilities : |
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
S. N. Singal Chartered Accountant |
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Address : |
445, Old Anaj Mandi, Prem Nagar, Hisar – 125001, |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1200000 |
Equity Shares |
Rs.10/- each |
Rs. 12.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1100000 |
Equity Shares |
Rs.10/- each |
Rs. 11.000 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
11.000 |
11.000 |
11.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
4.580 |
2.620 |
1.545 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
15.580 |
13.620 |
12.545 |
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LOAN FUNDS |
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1] Secured Loans |
39.867 |
35.098 |
30.129 |
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2] Unsecured Loans |
5.000 |
5.000 |
7.000 |
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TOTAL BORROWING |
44.867 |
40.098 |
37.129 |
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DEFERRED TAX LIABILITIES |
1.157 |
0.804 |
0.833 |
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TOTAL |
61.604 |
54.522 |
50.507 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
21.767 |
21.197 |
20.983 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
42.213
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35.979 |
21.934 |
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Sundry Debtors |
1.324
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1.825 |
6.704 |
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Cash & Bank Balances |
1.537
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1.060 |
2.041 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
6.171
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6.071 |
5.840 |
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Total
Current Assets |
51.245
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44.935 |
36.519 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
1.046
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0.600 |
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Other Current Liabilities |
10.087
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11.330 |
7.668 |
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Provisions |
1.154
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0.796 |
0.680 |
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Total
Current Liabilities |
12.287
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12.726 |
8.348 |
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Net Current Assets |
38.958
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32.209 |
28.171 |
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MISCELLANEOUS EXPENSES |
0.879 |
1.116 |
1.353 |
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TOTAL |
61.604 |
54.522 |
50.507 |
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PROFIT & LOSS
ACCOUNT
Note – The Profit
And Loss Account Details Are Not Available.
KEY RATIOS
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PARTICULARS |
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31.03.2010 |
31.03.2009 |
31.03.2008 |
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Debt Equity Ratio (Total Liability/Networth) |
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3.66
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3.87 |
3.62 |
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Current Ratio (Current Asset/Current Liability) |
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4.17
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3.53 |
4.37 |
LOCAL AGENCY FURTHER INFORMATION
Sundry Creditors
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Particulars |
31.03.2010 Rs.
In Millions |
31.03.2009 Rs.
In Millions |
31.03.2008 Rs.
In Millions |
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Sundry Creditors |
1.046 |
0.600 |
NA |
Note – The registered
office address of the company has been shifted from C-2/126 Ashok Vihar
Phase-II,
Fixed Assets
- Land
- Buildings
- Plants and Machineries
- Furniture and
Fittings and Office Equipments
- Vehicles
- Computers
- Building
(Workshop)
FORM 8
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Corporate
identity number of the company |
U34300DL1999PTC101508 |
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Name of the
company |
ORION MOTORS PRIVATE LIMITED |
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Address of the registered
office or of the principal place of
business in |
C-2/392, |
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This form is for |
Modification of
charge |
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Type of charge |
Immovable
property Book debts Movable property Floating charge |
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Particular of
charge holder |
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Nature of
instrument creating charge |
Agreement Of
Hypothecation Of Stock, Building,
Vehicle, Plant & Machinery, Goods
And Book Debts |
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Date of
instrument Creating the charge |
19.04.2010 |
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Amount secured by
the charge |
Rs. 42.900
Millions |
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Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest Working Limit :
2.00% Above Sbar (Sbar 11.75%) Inventory Funding
: 0.25% Minimum Abovr Sbar ( Sbar 11.75%) Term Loan : 1.25%
Above Sbar ( Sbar 12.5%) As Per Bank Instructions. Terms of
Repayment Cc Limit : 12
Months Term Loan : As
Per Repayment Schedule Margin CC LIMIT : 25% BOOK DEBTS : 40% Extent and
Operation of the charge 100% Others Nil |
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Particulars of
the property charged |
Land And Building
Measuring 4k14m Khewat No. 266/234 Khatoni No.400 Khasra No.116/18/1/2 (1-14)
23/2/1 (2-12) 124//4/1 (0.8) |
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Date of
instrument modifying the charge |
19.09.2009 |
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Particulars of
the present modification |
Overall Amount
Secured By Charge Is Enhanced To Rs 42.900 millions From Rs 39.000 millions
By Sanctioning The Fresh Cc Limit Of Rs 5.500 millions. Amount Of Term Loan
Is Secured To The Extent Of Outstanding Balance Of Rs 2.900 millions. Other
Terms And Conditons Are As Per Sanction Letter Dated 19/04/2010. |
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
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Indian Rupees |
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US Dollar |
1 |
Rs.45.30 |
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1 |
Rs.71.73 |
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Euro |
1 |
Rs.60.40 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
2 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
2 |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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- |
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.