MIRA
INFORM REPORT
|
Report Date : |
20.01.2011 |
Note :- Given Adderess could not be confirmed.
IDENTIFICATION DETAILS
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Name : |
RELIANCE RETAIL LIMITED |
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Formerly Known As : |
Reliance Chemicals and Fibers Private Limited |
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Registered Office : |
9th
Floor, Maker Chambers, IV, 222 Nariman Point, Mumbai – 400021, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
17.03.1998 |
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Com. Reg. No.: |
11 - 114010 |
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CIN No.: [Company
Identification No.] |
U17120MH1998PLC114010 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMR19886G |
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PAN No.: [Permanent
Account No.] |
AAACR7402E |
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Legal Form : |
A Closely Held Public
Limited Liability Company. |
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Line of Business : |
Manufacturers and Marketers of Fabrics,
Polyester Filament Yarn, Polyester Staple Fibres, PTA, LAB, Ethylene Glycol,
PVC, PE, PP, Crude Oil, Gas, Norman Paraffin, Fibre Fill, Ethylene, Propylene,
Benzene, Xylene and Toluene. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (41) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 228650000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Reliance Retail Limited is a subsidiary of Reliance industries limited. It is an established company having satisfactory track. There appears
some accumulated losses recorded by the company. However trade relations are
reported as fair. Business is active. Payments are reported to be regular and
as per commitments. In view of strong promoters 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) |
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A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
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Registered Office : |
9th
Floor, Maker Chambers, IV, 222 Nariman Point, Mumbai – 400021, |
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Tel. No.: |
91-22-30325000/30327000/22785000 |
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Fax No.: |
91-22-30322268 |
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E-Mail : |
d-jain@kellog.northwestern.edu manoj.modi@ril.com |
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Website : |
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Administrative Office : |
Chitrakoot, 2nd
Floor, Shree Ram Mills Compound, Ganpatrao Kadam Marg, Worli, Mumbai – 400
013, |
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Tel. No.: |
91-22-24962780/
24981163/ 24981167/ 24981667-90 |
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Corporate Office : |
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Tel. No.: |
91-22-30327000 |
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Factory 1 : |
Patalganga Complex, B-4 Industrial Area, Patalganga, Off |
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Factory 2 : |
Naroda Complex, 103/106 Naroda Industrial Estate, Naroda,
Ahmedabad – 382 330, |
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Factory 3 : |
Hazira Complex, Village Mora, Bhatha P. O. Surat-Hazira
Road, Surat – 394 510, Gujarat State, India. |
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Factory 4: |
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Refinery Complex : |
Taluka Lalpur,
District |
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Branches : |
Chitrakoot, Shree
Ram Mills Compound, Ganpatrao Kadam Marg, Worli, Mumbai – 400018, |
DIRECTORS
As on 06.09.2010
|
Name : |
Mr. Mukesh D.
Ambani |
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Designation : |
Director |
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Address : |
“Sea Wind”, 39, Cuffe Parade, Colaba, Mumbai – 400005, |
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Date of Birth/Age : |
19.04.1957 |
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Qualification : |
Chemical Engineer from |
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Date of Appointment : |
04.03.2006 |
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Other Directorship : |
L17110MH1977PLC019786
L23200GJ1969PLC001569
U11100GJ2005PLC048030
U80101MH2002PLC136300 |
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Name : |
Mr. Gwyn
Sundhagul |
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Designation : |
Director |
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Address : |
199/6, Moo 3 ,
Soi Ruammitrpattana, Taraeng, Bang Khen, |
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Date of Birth/Age : |
09.08.1962 |
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Date of Appointment : |
22.01.2010 |
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Name : |
Mr. Manoj
Harjivandas Modi |
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Designation : |
Director |
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Address : |
Flat No. 7, Best
Apartments, Walkeshwar, Mumbai – 400006, |
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Date of Birth/Age : |
03.07.1957 |
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Date of Appointment : |
04.03.2006 |
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PAN No. |
AACPM2036L |
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Other Directorship : |
U11100GJ2005PLC048030
U72200KA1991PTC012483 |
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Name : |
Mr. Dipak Chand
Jain |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
09.06.1957 |
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Date of Appointment : |
04.03.2006 |
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Other Directorship : |
Reliance
Industries Limited L17110MH1977PLC019786 |
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Name : |
Mr. Raghu Pillai |
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Designation : |
Whole Time Director Director |
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Address : |
Flat No. 6, 4th Floor, Shangrila Apartments No. 5, Orlur
Olcott Road, Besant Nagar, Chennai – 600090, Tamilnadu, India |
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Date of
Birth/Age : |
03.07.1957 |
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Qualifications : |
Chemical Engineer |
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Date of Appointment : |
Since 1990 |
KEY EXECUTIVES
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Name : |
Mr. Sridhar Kothandaraman |
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Designation : |
Secretary |
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Address : |
Flat No. 3, 11th Floor, B-4, |
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Date of Birth/Age : |
29.12.1972 |
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Date of Appointment : |
16.03.2006 |
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Other Directorship: |
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Name : |
Mr. Raja Kozhumum Ramachandran |
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Designation : |
Manager |
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Address : |
1703 / 1704, Building No. 1, Raheja Classique, New |
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Date of Birth/Age : |
19.12.1956 |
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Date of Appointment : |
07.03.2006 |
Equity Share capital Breakup: (As on 06.09.2010)
|
Category |
Percentage |
|
Bodies corporate
(not mentioned above) |
99.90 |
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Others |
0.10 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and
Marketers of Fabrics, Polyester Filament Yarn, Polyester Staple Fibres, PTA, LAB,
Ethylene Glycol, PVC, PE, PP, Crude Oil, Gas, Norman Paraffin, Fibre Fill,
Ethylene, Propylene, Benzene, Xylene and Toluene. |
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Brand Names : |
Recron Apparels, Home
textiles Industrial sewing
threads, Automotive Upholstery Recron Fibrefill Sleep Product: Pillows, Cushions, Toys, Quits, Mattresses Recron 3S Construction
Industry (concrere/mortar), asbestos cement
(sheet and pipe), paper industry
(conventional and speciality), battery industry Recron Stretch Denims, shirting, suiting, dress material, T- shirt,
sportswear, swimwear Recron Coutluk Shirting, Suiting, furnishing fabric, curtain and
bed sheet Recron Dyefast Knitted cardigan, decorative fabric and home furnishing Recron Superblack Apparel,
automotive, non-woven and interlling Recron Superdye Woven and knitted apparel, furnishing and home textile Fiber Intermediates Raw Material Relpet Packing-water,
soft drinks, beverages, confectionery Repol Packaging-Woven
sacks, TQ and BOPP films, Unipol
containers Relene Packaging-woven
sanks, films Reclair Packaging-films,
squeeze bottles Reon Pipes and
fittings, profiles Relpipe Irrigation, water
supply, drainage, industrial effluents,
telecom cable ducts, gas distribution Relab Detergents Vimal Apparels,
fabrics Harmony Furnishing,
home textiles RueRel Apparels,
Fabrics Vimal V2 Apparels,
Fabrics Reance Suits, shirts
and trousers SlumbeRel Sleep products Refining Refinery of
domestic and Industrial Fuel Oil & Gas Refining, power, fertilisers and
petrochemicals |
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Exports : |
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Countries : |
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GENERAL INFORMATION
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No. of Employees : |
12864 |
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Bankers : |
·
HDFC Bank
Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel West, Mumbai –
400013, ·
ICICI
Bank Limited, ·
Andhra
Bank, Mumbai ·
Bank
of ·
Bank
of ·
Bank
of ·
Canara
Bank, Mumbai ·
Central
Bank of ·
Citibank
N. A., Mumbai ·
Corporation
Bank, Mumbai ·
Deutsche
Bank, Mumbai ·
Dena
Bank, Mumbai ·
Hongkong
Bank, Mumbai ·
IDBI
Bank Limited, Mumbai ·
Indian
Bank, Mumbai ·
Indian
Overseas Bank, Mumbai ·
Oriental
Bank of Commerce, Mumbai ·
Punjab
National Bank, Mumbai ·
State
Bank of ·
State
Bank of Saurashtra, Mumbai ·
Standard
Chartered Grindlays Bank Limited, Mumbai ·
Syndicate
Bank, Mumbai ·
Union
Bank of ·
Vijaya
Bank, Mumbai ·
ICICI
Bank Limited, ·
Senapati
Bapat Marg, Lower Parel (West), Mumbai – 400013, ·
ABN
AMRO Bank, Mumbai ·
Allahabad
Bank, Mumbai |
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Facilities : |
Notes :-
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Chartered Accountants 714/715, Tulsiani Chambers, 212, Nariman Point, Mumbai – 400021,
Chartered Accountant Jalan Mill Compound, 95, Ganpatrao Kadam Marg, Lower Parel, Mumbai –
400013, |
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Subsidiaries : |
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Associates : |
eOfficeplanet India Private Limited |
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Fellow Subsidiary : |
Reliance Corporate IT Park Limited |
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Joint Venture Companies : |
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Holding Company : |
Reliance
Industries Limited CIN No. : L17110MH1973PLC019786 |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15000000000 |
Equity Shares |
Rs.10/- each |
Rs. 150000.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3900000000 |
Equity Shares |
Rs. 10/-
each |
Rs.
39000.000 Millions |
|
6100000000 |
Equity Shares of Rs.10 each partly paid up
of Rs.3 each |
Rs. 10/-
each |
Rs.
18300.000 Millions |
|
|
Total |
|
Rs. 57300.000 Millions |
NOTE :-
- Out
of the above, Reliance Industries Limited, the holding company, holds
3,390,000,000 (Previous Year 3,390,000,000) fully paid-up Equity Shares
and 6,100,000,000 (Previous Year 6,100,000,000) partly paid-up Equity
Shares.
- The
Company is authorised to issue up to forty nine crore Restricted Stock
Units (“RSUs”) to eligible employees (including employees of Reliance
Industries Limited, the holding company) under Reliance Retail Restricted
Stock Unit Plan 2007. The RSUs vest on different dates over a period of
sixteen years from the date of grant of RSUs as per the scheme announced
and upon vesting, the employees are entitled to one equity share of Rs. 10
each for every RSU. As on March 31, 2010, RSUs in force total to five
crore eleven lakh thirty six thousand three hundred ninety seven.
As on 06.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15000000000 |
Equity Shares |
Rs.10/- each |
Rs. 150000.000 Millions |
Issued, Subscribed
|
No. of Shares |
Type |
Value |
Amount |
|
10000000000 |
Equity Shares |
Rs. 10/-
each |
Rs.
100000.000 Millions |
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 |
57300.000 |
40510.000 |
40510.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(137.519) |
(319.753) |
(117.299) |
|
|
NETWORTH |
57162.481 |
40190.247 |
40392.701 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
215.073 |
443.710 |
733.648 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
215.073 |
443.710 |
733.648 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
57377.554 |
40633.957 |
41126.349 |
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|
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APPLICATION OF FUNDS |
|
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|
|
|
|
|
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|
|
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FIXED ASSETS [Net Block] |
655.090 |
245.779 |
369.099 |
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Capital work-in-progress |
636.721 |
1076.668 |
237.710 |
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|
|
|
|
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INVESTMENT |
1760.963 |
1182.763 |
220.987 |
|
|
DEFERREX TAX ASSETS |
375.010 |
122.768 |
60.550 |
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1916.740
|
1377.618
|
1159.387 |
|
|
Sundry Debtors |
97.862
|
356.615
|
28373.547 |
|
|
Cash & Bank Balances |
305.886
|
732.986
|
836.267 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
54099.336
|
48299.926
|
17276.177 |
|
Total
Current Assets |
56419.824
|
50767.145
|
47645.378 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
2443.914
|
12585.898
|
7228.284 |
|
|
Provisions |
31.128
|
185.257
|
194.081 |
|
Total
Current Liabilities |
2475.042
|
12771.155
|
7422.365 |
|
|
Net Current Assets |
53944.782
|
37995.990
|
40223.013 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
4.988 |
9.989 |
14.990 |
|
|
|
|
|
|
|
|
TOTAL |
57377.554 |
40633.957 |
41126.349 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2760.817 |
5840.752 |
11003.808 |
|
|
|
Other Income |
576.204 |
299.839 |
4842.544 |
|
|
|
TOTAL (A) |
3337.021 |
6140.591 |
15846.352 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase |
1990.551 |
3177.105 |
11507.371 |
|
|
|
Operating and Other Expenses |
1366.355 |
3140.031 |
3984.500 |
|
|
|
TOTAL (B) |
3356.906 |
6317.136 |
15491.871 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(19.885) |
(176.545) |
354.481 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
32.537 |
36.380 |
4.666 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(52.422) |
(212.925) |
349.815 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
17.586 |
29.741 |
362.432 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(70.008) |
(242.666) |
(12.617) |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
(252.242) |
40.212 |
4.401 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
182.234 |
(202.454) |
(8.216) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(319.753) |
(117.299) |
NA |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(137.519) |
(319.753) |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Traded Goods |
0.000 |
38.866 |
191.089 |
|
|
|
Capital Goods |
0.000 |
21.442 |
828.521 |
|
|
TOTAL IMPORTS |
0.000 |
60.308 |
1019.610 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.04 |
(0.05) |
0.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
5.46 |
(3.29) |
(0.05) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(2.53) |
(4.15) |
(0.11) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.12) |
(0.47) |
(0.02) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00 |
(0.01) |
(0.00) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.05 |
0.33 |
0.20 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
22.79 |
3.97 |
6.41 |
LOCAL AGENCY FURTHER INFORMATION
OVERVIEW OF OPERATIONS
The Company (RRL) through its
wholly-owned subsidiaries, operates multiple store formats, including ‘Reliance
Fresh’, a neighborhood concept, ‘Reliance Mart’, an all under one roof
hypermarket concept, ‘Reliance Super’, a mini-mart concept, ‘Reliance Digital’,
a consumer durables and information technology concept, ‘Reliance Trends’, an
apparel and accessories concept, ‘Reliance Wellness’, a health, wellness &
beauty concept, ‘Store by Reliance Digital’, an exclusive Apple products
concept, ‘Reliance Footprint’, a footwear concept, ‘Reliance Jewels’, a
Jewellery concept, ‘Reliance TimeOut’, a books, music and entertainment
concept, ‘Reliance AutoZone’, an automotive products and services concept and
‘Reliance Living’, a homeware, furniture, modular kitchens, furnishings
concept.
During the year, RRL continued to
fulfill its commitment of enriching Indian consumer’s shopping experience, and
providing quality merchandise at an attractive value proposition. More than 3
years into operation, RRL has now expanded its presence in more than 85 cities
across 14 states in
RRL also rapidly expanded the
stores network it operates through strategic partnerships with world-class
companies such as Marks and Spencer and Pearl Europe. RRL also entered into an
exclusive distribution arrangement with Asics Corporation
Through ‘Reliance One’, RRL’s
loyalty membership program, RRL enjoys the patronage of over 5.5 million
customers.
In the coming year, RRL will
continue on its mission to delight the customers every visit. RRL will continue
to provide unprecedented value to customers across all its formats and stores.
The Company has made a profit
after tax of Rs. 182.234 millions on a turnover of Rs. 2760.817 millions for
the financial year ended on March 31, 2010. As the Company and its subsidiaries
continue to expand and grow, reaching out to customers in new cities and towns,
the directors are confident of a robust performance of the Company and its
subsidiaries in the coming years.
Bankers Charges Report
as per Registry
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U17120MH1998PLC114010 |
|
Name of the
company |
RELIANCE RETAIL LIMITED |
|
Address of the
registered office or of the principal place of business in |
9TH Floor, Maker Chambers IV, 222, Nariman
Point, Mumbai – 400021, |
|
Type of charge |
Movable Property
(not being pledge) |
|
Particular of
charge holder |
CIN: L65190GJ1994PLC021012 Name : ICICI Bank Limited Address: City: State: ISO country code: IN Pin code: 390015 E-mail ID: jyotin.mehta@icicibank.com |
|
Nature of description
of the instrument creating or modifying the charge |
Unattested Deed of Hypothecation executed on 30.03.2007
between the Company and ICICI Bank Limited |
|
Date of
instrument Creating the charge |
30.03.2007 |
|
Amount secured by
the charge |
Rs.
35.000 millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Extent and
Operation of the charge - First and exclusive charge on the vehicles
(to be purchased under the loan facility as detailed under Schedule – II) by
way of Hypothecation to secure repayment and payment of the Facilities and
all interest, commission, costs charges, expenses and all other monies,
whatsoever stipulated in or payable by the Company under the unattested Deed
of Hypothecation. |
FIXED ASSETS
- Plant and Machinery
- Electric Installations
- Equipments
- Furniture and Fixtures
- Vehicles
- Leasehold Improvement
As per web details:
PROFILE:
Subject is gearing up to revolutionize
the retailing industry in
A world class shopping
environment, state of art technology, a seamless supply chain infrastructure, a
host of unique value-added services and above all, unmatched customer
experience, is what this initiative is all about.
The retail initiative of Reliance
will be without a parallel in size and spread and make
The project will boast of a
seamless supply chain infrastructure, unprecedented even by world standards.
Through multiple formats and a wide range of categories, Reliance is aiming to
touch almost every Indian customer and supplier.
Growth through Value Creation
With a vision to generate inclusive growth and prosperity for farmers, vendor partners, small shopkeepers and consumers, Subject, a subsidiary of RIL, was set up to lead Reliance Group’s foray into organized retail.
Since its inception in 2006, Subject has grown into an organisation that caters to millions of customers, thousands of farmers and vendors. Based on its core growth strategy of backward integration, Subject has made rapid progress towards building an entire value chain starting from the farmers to the end consumers.
Through this year, Subject increased its footprint to more
than 900 stores in 80 cities across 14 states in
Keeping in line with its commitment of providing customers
with best quality products, Subject has forged strategic partnerships with
world-class companies such as Marks and Spencer (apparel and accessories),
Office Depot (office stationery), Pearle Europe (optical products) and Hamleys
(toys).
Subject has a direct engagement with over 5 million
customers following a loyalty programme 'Reliance One' which was offered from
the first day of its operation. During the year, Subject continued to bolster
its agribusiness and dairy value chain to support its rapidly expanding store
footprint. By sourcing directly at the farmer's doorstep, Subject ensures fair
and timely payments to the farmers, reduction in spoilage through its state
of-the art supply chain and logistics network and high quality produce to its
customers.
In the coming year, Subject will focus on continuously innovating to enrich customer's shopping experience through customized offers, private labels and 'value-for money' merchandise. Subject is also committed to foster relationships with partners that will create new avenues of value enhancement for its customers.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON DESIGNATED
PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.38 |
|
|
1 |
Rs.72.71 |
|
Euro |
1 |
Rs.61.15 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
41 |
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.