MIRA
INFORM REPORT
|
Report Date : |
07.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
INTERGLOBE AVIATION LIMITED |
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Registered
Office : |
Central Wing, Ground Floor, Thapar House, 124, Janpath, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
13.01.2004 |
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Com. Reg. No.: |
55-129768 |
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Capital
Investment / Paid-up Capital : |
Rs.1897.716 millions |
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CIN No.: [Company Identification No.] |
U62100DL2004PLC129768 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELI05040A |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Providing Air Support Services. |
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No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 14774000 |
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Status : |
Satisfactory |
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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 satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be slow but correct. 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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 (General Details)
|
Name : |
Mr. Manoj Malhotra |
|
Designation : |
Company Secretary |
LOCATIONS
|
Registered Office : |
Central Wing, Ground Floor, Thapar House, 124, Janpath, |
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E-Mail : |
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Website : |
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Area : |
10000 sq ft |
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Location : |
Owned |
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Branch Office 1 : |
Block 2B, DLF
Corporate Park, DLF Qutab Enclave, Phase III, Gurgaon-122002, |
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Tel. No.: |
91-124-2358201-05 |
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Fax No.: |
91-124-2357554 |
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Branch Office 2 : |
Interglobe Air
Transport/ Galileo |
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Tel. No.: |
91-141-2360532 |
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Fax No.: |
91-141-5118886 |
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Branch Office 3 : |
Interglobe
Technologies, Tower C, Global |
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Tel. No.: |
91-124-5060555 |
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Fax No.: |
91-124-2549540 |
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Branch Office 4 : |
InterGlobe
Technology Quotient, Block 2B, DLF Corporate Park, |
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Tel. No.: |
91-124-2358201 |
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Fax No.: |
91.124-2357554 |
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Location : |
Owned |
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Branch Office 5 : |
InterGlobe
Hotels, Block 2B, DLF, Corporate Park, |
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Tel. No.: |
91-124-2358201 |
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Fax No.: |
91-124-5068193 |
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Branch Office 6 : |
InterGlobe
Aviation, Block 2B, DLF Corporate Park, |
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Tel. No.: |
91-124-2358201 |
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Fax No.: |
91-124-5068193 |
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Branch Office 7 : |
Ground Floor, Thapar House, 66, Janpath, |
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DIRECTORS
As on 29.07.2010
|
Name : |
Mr. Kapil Bhatia |
|
Designation : |
Director |
|
Address : |
18, |
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Date of Birth/Age : |
01.06.1932 |
|
Date of Appointment : |
13.01.2004 |
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|
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Name : |
Mr. Rahul Bhatia |
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Designation : |
Director |
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Address : |
18, |
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Date of Birth/Age : |
10.06.1960 |
|
Date of Appointment : |
13.01.2004 |
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|
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|
Name : |
Mr. Anil Parashar |
|
Designation : |
Director |
|
Address : |
E-367, Greater Kailash Part I, New Delhi-110048 |
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Date of Appointment : |
09.02.2005 |
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Name : |
Mr. Aditya Ghosh |
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Designation : |
Director |
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Address : |
E-367, Greater Kailash Part – 1, |
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Date of Birth/Age : |
17.08.1958 |
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Date of Appointment : |
30.05.2007 |
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Name : |
Mr. Ashish Lakhotia |
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Designation : |
Director |
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Address : |
H-452A, Palam Vihar, Gurgaon – 122 002, |
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Date of Birth/Age : |
27.07.1975 |
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Date of Appointment : |
30.05.2007 |
KEY EXECUTIVES
|
Name : |
Mr. Manoj Malhotra |
|
Designation : |
Company Secretary |
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|
Name : |
Mr. Ashish Lakhotia |
|
Designation : |
Secretary |
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Address : |
M-165, Lado Sarai, |
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Date of Birth/Age : |
15.12.1981 |
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Date of Appointment : |
01.04.2006 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.07.2010
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Kapil Bhatia |
|
50 |
|
Rahul Bhatia |
|
40 |
|
Rohini Bhatia |
|
10 |
|
Interglobe Enterprises Limited, |
|
156950 |
|
Caalum Investment |
|
147000 |
|
Shobha Gangwal |
|
1451 |
|
Asha Mukherjee |
|
1499 |
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Total
|
|
307000 |
|
Names of Shareholders (Redeemable Preference Shares) |
|
No. of Shares |
|
Interglobe Enterprises Limited, |
|
854000 |
|
Galileo India Private Limited, |
|
700000 |
|
Total
|
|
1554000 |
|
Names of Shareholders (Convertible Preference Shares) |
|
No. of Shares |
|
Riyaz Peer Moham |
|
5110 |
|
Shakti Lumba |
|
84 |
|
Steven Harist |
|
3607 |
|
Bruce Ashby |
|
6012 |
|
Chesapaake International |
|
4008 |
|
Kunal Chanana |
|
6012 |
|
G5 Investments |
|
1503 |
|
Sanjay Kumar |
|
334 |
|
Tario Taher Carimjee |
|
4034 |
|
Anil Chanana |
|
6012 |
|
Total
|
|
36716 |
As on 29.07.2010
|
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] |
|
48.36 |
|
Bodies
corporate |
|
51.12 |
|
Directors
or relatives of directors |
|
0.03 |
|
Other
top fifty shareholders |
|
0.49 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Air Support Services. |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
Cash |
GENERAL INFORMATION
|
Customers : |
End Users and OEM’s |
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No. of Employees : |
200 (Approximately) |
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Bankers : |
v
Oriental
Bank of Commerce, E-Block, Connaught Place, New Delhi-110 001, v
Bank
of Maharashtra, 1295, Sushant Loak, Gurgaon-122002, v
Union
Bank of |
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|
|
|
Facilities : |
Cash Credit – Rs.1125.000 millions (Union Bank of |
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Banking
Relations : |
-- |
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Auditors 1 : |
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|
Name : |
Sethi and Mehra Chartered Accountants |
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|
Address : |
80, Darya Ganj, |
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Tel. No.: |
91-11-23275798 /
23289030 |
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Fax No.: |
91-11-23271213 |
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E-Mail : |
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Auditors 2 : |
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Name : |
B.S.R. and Company Chartered Accountants |
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Address : |
Building No.10, 8th Floor, Tower – B, |
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Tel. No.: |
91-124-2549191 |
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Fax No.: |
91-124-2549101 |
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Associates/ Subsidiaries : |
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Fellow Subsidiaries : |
IGE ( |
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Holding Company : |
Interglobe Enterprises Limited CIN No.:
U63040DL1989PLC037689 Address: Central Wing, Ground
Floor, Thapar House, 124, Janpath, |
|
CAPITAL STRUCTURE
As on 29.07.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.1000/- each |
Rs.500.000 millions |
|
1700000 |
Preference Shares |
Rs.1000/- each |
Rs.1700.000 millions |
|
|
Total
|
|
Rs.2200.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
307000 |
Equity Shares |
Rs.1000/- each |
Rs.307.000
millions |
|
1590716 |
Preference Shares |
Rs.1000/- each |
Rs.1590.716
millions |
|
|
Total
|
|
Rs.1897.716 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 |
1897.720 |
1897.720 |
1897.720 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1795.810 |
2.220 |
25.680 |
|
|
4] (Accumulated Losses) |
0.000 |
(3689.970) |
(4511.600) |
|
|
NETWORTH |
3693.530 |
(1790.030) |
(2588.200) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
9003.890 |
3410.130 |
1649.970 |
|
|
2] Unsecured Loans |
684.000 |
386.100 |
0.000 |
|
|
TOTAL BORROWING |
9687.890 |
3796.230 |
1649.970 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED INCENTIVES |
5679.510 |
4952.910 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
19060.930 |
6959.110 |
(938.230) |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
8363.030 |
2230.140 |
464.620 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
32.220 |
|
|
Capital Advances |
11.320 |
4.350 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
6570.860 |
367.410 |
0.000 |
|
|
DEFERREX TAX ASSETS |
616.650 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
340.300
|
353.590 |
265.640 |
|
|
Sundry Debtors |
180.520
|
62.620 |
57.820 |
|
|
Cash & Bank Balances |
3184.890
|
3382.290 |
1935.010 |
|
|
Other Current Assets |
190.480
|
175.680 |
499.030 |
|
|
Loans & Advances |
3772.350
|
2958.350 |
2111.340 |
|
Total
Current Assets |
7668.540
|
6932.530 |
4868.840 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
3996.310
|
666.940 |
627.440 |
|
|
Other Current Liabilities |
|
1851.630 |
5653.690 |
|
|
Provisions |
173.160
|
56.750 |
22.780 |
|
Total
Current Liabilities |
4169.470
|
2575.320 |
6303.910 |
|
|
Net Current Assets |
3499.070
|
4357.210 |
(1435.070) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
19060.930 |
6959.110 |
(938.230) |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Operating Income |
26015.690 |
18900.670 |
11328.200 |
|
|
|
Other Income |
630.280 |
775.950 |
153.800 |
|
|
|
TOTAL (A) |
26645.970 |
19676.620 |
11482.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Aircraft Fuel Expenses |
9120.520 |
9830.840 |
6728.670 |
|
|
|
Aircraft and Engine Rentals |
2666.770 |
1807.120 |
2028.720 |
|
|
|
Personnel Expenses |
2233.790 |
1937.110 |
1555.610 |
|
|
|
Selling and Marketing Expenses |
2390.970 |
1430.490 |
670.140 |
|
|
|
Operating and Other Expenses |
4358.980 |
3439.560 |
1905.990 |
|
|
|
Administration Expenses |
0.000 |
0.000 |
573.320 |
|
|
|
Mark to Market loss on forward contracts |
7.360 |
0.000 |
0.000 |
|
|
|
Prior Period (income)/ expenses |
(43.260) |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
20735.130 |
18445.120 |
13462.450 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
5910.840 |
1231.500 |
(1980.450) |
|
|
|
|
|
|
|
|
|
Less |
INTEREST &
FINANCIAL EXPENSES (D) |
560.370 |
202.160 |
209.250 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
5350.470 |
1029.340 |
(2189.700) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
459.960 |
183.120 |
142.180 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
4890.510 |
846.220 |
(2331.880) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(616.500) |
24.590 |
15.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
5507.010 |
821.630 |
(2347.480) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(3689.970) |
(4511.600) |
(2164.120) |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Premium payable on redemption of 0.00% non
cumulative redeemable preference shares |
21.230 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
1795.810 |
(3689.970) |
(4511.600) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Passenger revenue and credit and sales
|
323.830 |
287.370 |
23.380 |
|
|
TOTAL EARNINGS |
323.830 |
287.370 |
23.380 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
NA |
3614.830 |
28.910 |
|
|
|
Components and Spare Parts |
NA |
199.600 |
258.430 |
|
|
TOTAL IMPORTS |
NA |
3814.430 |
287.340 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
- Basic |
17869.00 |
2676.00 |
(7647.00) |
|
|
|
- Diluted |
15960.00 |
2390.00 |
(7647.00) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
20.67
|
4.18 |
(20.44) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
18.80
|
4.48 |
(20.58) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
30.51
|
9.24 |
(43.72) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
1.32
|
(0.47) |
0.90 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.75
|
(3.56) |
(3.07) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.84
|
2.69 |
0.77 |
LOCAL AGENCY FURTHER INFORMATION
BUSINESS PROGRESS:
The year was a landmark year for the company. The company made a profit
of Rs.5507.010 millions as against a profit of Rs.821.630 millions in the
previous year. Profit available for appropriation after wiping off past losses
is Rs.1817.040 against a loss of Rs.3689.970 millions. Thus the company has
turned round the corner by wiping off past losses.
OPERATIONS:
The Airline has flown over 21 million passengers and over 150000 flights
since launch. As on date the company has 27 new A320 Aircrafts in it6s fleet
and it operates 182 flights per day connecting 22 destinations across the
nation.
AWARDS:
The company bagged the NDTV Profit Business Leadership Award 2009 in the
category of Aviation. The company was also awarded the Airside Safety Award by Bangalore
International Airport Limited (BIAL) in recognition of the airlines outstanding
contribution in Airside Safety. This is Indigo’s second recognition for Airside
Safety in line with the “Safety Excellence Award” that the airline received
from GMR in 2009.
Form 8 :
|
Corporate
identity number of the company |
U62100DL2004PLC129768 |
|
Name of the
company |
INTERGLOBE AVIATION LIMITED |
|
Address of the
registered office or of the principal place of business in |
Central Wing, Ground Floor, Thapar House, 124, Janpath, E-Mail: manoj.malhotra@interglobe.com |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10088984 |
|
Type of charge |
Book Debts Movable Property Floating Charge Others (current
assets, PDPs of the company for 2 aircrafts) |
|
Particular of
charge holder |
Union Bank of E-Mail: gselvam.ganesan@gmail.com |
|
Nature of
description of the instrument creating or modifying the charge |
General Term Loan
Agreement(SD-18) |
|
Date of instrument
Creating the charge |
16/07/2010 |
|
Amount secured by
the charge |
Rs.1125.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: Pricing to be obtained
at the time of actual roll over of PDP of the company for 2 aircrafts Terms of
Repayment: Repayment as per
sanction terms and bank norm Margin: Margin as per
sanction terms and bank norms Extent and
Operation of the charge: First charge on assets
mentioned to secure the term loan of Rs.1125.000 millions (increased from
Rs.750.000 millions)sanctioned to the company |
|
Short particulars
of the property charged |
All tangible
moveable machineries, plant machinery, equipments, fixtures etc., lying on
the premises Tower C, Global Business Park, DLF City, Phase III, Mehrauli
Gurgaon Road, Gurgaon or any other
places, current assets of the company and extension of charges over
assignment of PDPS of the company for two aircrafts |
|
Date of latest modification
prior to the present modification |
07/12/2009 |
|
Particulars of
the present modification |
A mount secured
is increased to Rs.1125.000 millions i.e. TL (FCL) Rs.750.000 millions and STL
(FCL) Rs.375.000 millions. Security: all tangible moveable machineries, Plant
and Machinery, equipments, fixtures etc., lying on the premises Tower C,
Global Business Park, DLF City, Phase III, Mehrauli Gurgaon Road, Gurgaon or
any other places, current assets of the company and extension of charges over
assignment of PDPS of the company for two aircrafts. other terms and
conditions remain same |
|
Corporation identity number or foreign company registrations number of the company |
U62100DL2004PTC129768 |
|
Name of the company |
INTERGLOBE
AVIATION PRIVATE LIMITED |
|
Address |
66 Janpath,
|
|
This Form is for |
Creation of
charge |
|
Type of Charges |
Hypothecation |
|
Particular of the charge holder |
Bank
of Maharashtra, Shushant Lok, I Branch, Gurgaon-122002, E-Mail : corporate.secretaries@interglobe.com |
|
Nature or description of the instrument creating charge |
Composite deed of hypothecation for all facilities dated 13.09.2006. |
|
Date of the instrument creating charge |
13.09.2006 |
|
Amount Secure by the charge |
Rs.550.000 millions |
|
Brief of the principal terms and conditions and extent and operation of the charge |
The bank has granted this facility against the hypothecation of all plants and machineries, vehicles, equipments, implements and fixtures. The rate of interest will be 10% and in case of default in payment 2% additional interest will be payable. The company will keep 205 margin. |
|
Description of the property charge whether it is a charge on |
Plant and Machinery Furniture and Fixtures Vehicles |
|
Modification charge Charge identification number of the charge to be modified |
Hypothecation of all plant and machineries, vehicles, equipments, implements and fixtures. |
FIXED ASSETS:
·
Furniture and Fixtures
·
Computer
·
Office Equipment
·
Vehicles
·
Electrical Installation
·
Software
WEBSITE DETAILS:
PROFILE:
In golf, as in life, it is the
follow through that makes the difference. At Subject Enterprises, they carry
this philosophy to work, and live by it in each of their relationships - with
employees, partners and customers.
Fifteen years ago, Subject entered
the business of travel. As they took their first steps, they were acutely aware
that they operate in an industry which is globally benchmarked and where change
is the only constant. They knew that to be successful, they could not be
captive in the environment.
With agility and determination,
Subject struck out in new directions across the spectrum of the travel industry
– from air transport management to computerized travel reservations, from
information and travel technology to hospitality. They took risks, but followed
through in each direction; consolidating at each step as they ventured forward.
Today, they have come a long
distance from where they began. Yet, Subject is not a group built on toplines and
bottomlines. It has been built on integrity and relationships. An organization
where trust and transparency complement excellence and teamwork. Where they
carve success through long-term mutually beneficial partnerships.
As
Established in 1989, InterGlobe
Enterprises is a travel corporation with a truly international vision to
deliver outstanding value to its stakeholders, clients and customers through
dedicated business units that perform specialist roles.
In an act that was an example of
the company's farsightedness and commitment to the industry, InterGlobe
Enterprises diversified in the fields of aviation management, travel related
services, travel technology, travel distribution services and hotel development
and management services - going beyond the traditional definition of the travel
spectrum giving it a whole new definition.
Conceived to cater to the growing
need for travel services in ground operations, communication and co-ordination,
the Subject vision, ever since, has been to become a diversified international
corporation in the areas of Air Transport Management, Travel Related Services
and Information Technology Management by delivering outstanding value to its
business partners, customers, employees and shareholders.
The cumulative experience put in
by close to 1900 staff strength not only add value to each other internally but
to all the business partners, providing them that necessary edge in the
corporate world today and ensuring the best service quality and the highest
standards.
An interesting aspect of Subject
is that though the company is privately held, it can boast of corporate
governance – a low profile corporate personality with exemplary value-based
leadership.
Today InterGlobe Enterprises has a
daunting India-focus with a network of 52 offices across 23 cities in
Little wonder that they continue
to be the preferred partner in travel-related services, with unending support
and patronage from all their business partners including some of the leading
airlines the world over.
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.44.38 |
|
|
1 |
Rs.71.24 |
|
Euro |
1 |
Rs.64.16 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
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 |
4 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.