BUSINESS INFORMATION REPORT
1. Summary Information
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Country |
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Company Name |
RANK OFFICE AUTOMATION PRIVATE LIMITED |
Principal Name 1 |
MR. KULDIP VIRMANI |
|
Status |
SATISFACTORY |
Principal Name 2 |
MR. KAILASH VIRMANI |
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|
Registration # |
55-89218 |
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Street Address |
14, ANSARI MARKET, OPPOSITE RAM MANDIR, DARYAGANJ, |
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Established Date |
22.08.1997 |
SIC Code |
-- |
|
Telephone# |
91-11-23257658 |
Business Style 1 |
TRADER |
|
Fax # |
91-11-23253844 |
Business Style 2 |
IMPORTER |
|
Homepage |
-- |
Product Name 1 |
PHOTOCOPIES |
|
# of employees |
25
(Approximately) |
Product Name 2 |
PRINTER |
|
Paid up capital |
Rs.2,000,000/- |
Product Name 3 |
ITS SPARES AND CONSUMABLES |
|
Shareholders |
DIRECTORS
OR RELATIVES OF DIRECTORS – 100% |
Banking |
STATE
BANK OF |
|
Public Limited Corp. |
NO |
Business Period |
14 YEARS |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Ba (45) |
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Related
Company |
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Relation
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Country
|
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
-- |
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2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
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|
Current Assets |
6,668,000
|
Current Liabilities |
1,670,000
|
|
Inventories |
7,239,000
|
Long-term Liabilities |
6,350,000 |
|
Fixed Assets |
1,057,000 |
Other Liabilities |
000 |
|
Deferred Assets |
000 |
Total Liabilities |
8,020,000 |
|
Invest& other Assets |
6,000 |
Retained Earnings |
4,950,000 |
|
|
|
Net Worth |
6,950,000 |
|
Total Assets |
14,970,000 |
Total Liab. & Equity |
14,970,000 |
|
Total Assets (Previous Year) |
16,858,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
NA |
Profit |
1,802,000 |
|
Sales(Previous yr) |
NA |
Profit(Prev.yr) |
1,306,000 |
MIRA
INFORM REPORT
|
Report Date : |
11.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
RANK OFFICE AUTOMATION PRIVATE LIMITED |
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Registered Office : |
14, Ansari Market, Opposite Ram Mandir, Daryaganj, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
22.08.1997 |
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Com. Reg. No.: |
55-89218 |
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Capital Investment/
Paid-up Capital: |
Rs. 2.000 Millions |
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|
|
CIN No.: [Company
Identification No.] |
U30004DL1997PTC089218 |
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|
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|
IEC No.: |
0598032681 |
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|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELR08695B DELR10210E |
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|
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PAN No.: [Permanent
Account No.] |
AAACR6164P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trader and Importer of Photocopies and Printer, ITS Spares and
Consumables. |
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No. of Employees: |
25 (Approximately) |
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 28000 |
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|
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually 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 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) |
|
|
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 |
LOCATIONS
|
Registered Office : |
14, Ansari Market, Opposite Ram Mandir, Daryaganj, |
|
Tel. No.: |
91-11-23257658/ 23257678/ 91-129-2414942 |
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Fax No.: |
91-11-23253844 |
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E-Mail : |
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Area : |
2000 Sq. Fts. |
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Location : |
Owned |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Kuldip Virmani |
|
Designation : |
Whole Time Director |
|
Address : |
H.No.84, 2A, NIT, |
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Date of Birth/Age : |
15.04.1960 |
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Qualification : |
Graduate |
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Date of Appointment : |
22.08.1997 |
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DIN No.: |
00980657 |
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Name : |
Mr. Kailash Kumar Virmani |
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Designation : |
Whole Time Director |
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Address : |
H.No.84, 2A, NIT, |
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Date of Birth/Age : |
01.07.1962 |
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Qualification : |
Post Graduate |
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Date of Appointment : |
22.08.1997 |
|
DIN No.: |
00980663 |
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|
|
|
Name : |
Mr. Rakesh Virmani |
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Designation : |
Whole Time Director |
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Address : |
H.No.84, 2A, NIT, |
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Qualification : |
Graduate Engineering |
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Date of Birth/Age : |
02.10.1964 |
|
Date of Appointment : |
22.08.1997 |
|
DIN No.: |
00980670 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Kuldip Virmani |
|
57200 |
|
Kailash Virmani |
|
62900 |
|
Rakesh Virmani |
|
73190 |
|
Sudesh Virmani |
|
2710 |
|
|
|
4000 |
|
Total |
|
200000 |
Equity Share Breakup (Percentage of Total
Equity)
As on 30.09.2010
|
Category |
|
Percentage of Holding |
|
|
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Photocopies and Printer, ITS Spares and
Consumables. |
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Products : |
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GENERAL INFORMATION
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Suppliers : |
As
on 31.03.2009
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Customers : |
As
on 31.03.2009 Wholesaler and Engineers
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No. of Employees : |
25
(Approximately) (in Office) |
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Bankers : |
v
State Bank of v ABN Amro Bank v
State Bank of v ICICI Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name 1 : |
S. Sunder Khandelwal and Company Chartered Accountants |
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Address : |
B-461, 2nd Floor, Nehru Ground, NIT, |
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Tel. No.: |
91-129-2414942/ 2410127 |
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Fax No.: |
91-129-2414942 |
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Name 2 : |
AAJV and Associates Chartered Accountants |
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Address : |
B-399-B, Ground Floor, Nehru Ground, NIT, Faridabad-121001, |
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Tel. No.: |
91-129-2414942 |
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Mobile No.: |
91-9312249637 |
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E mail: |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity Share |
Rs.10/- each |
Rs.2.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity Share |
Rs.10/- each |
Rs.2.000 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 |
2.000 |
2.000 |
2.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
4.950 |
3.725 |
2.925 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
6.950 |
5.725 |
4.925 |
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LOAN FUNDS |
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|
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|
1] Secured Loans |
5.929 |
5.427 |
5.399 |
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2] Unsecured Loans |
0.421 |
1.281 |
0.826 |
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TOTAL BORROWING |
6.350 |
6.708 |
6.225 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
13.300 |
12.433 |
11.150 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.057 |
1.314 |
0.975 |
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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 |
7.239
|
9.847
|
15.418 |
|
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Sundry Debtors |
1.263
|
1.310
|
0.743 |
|
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Cash & Bank Balances |
1.172
|
1.110
|
0.240 |
|
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Other Current Assets |
1.557
|
0.564
|
0.126 |
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Loans & Advances |
2.676
|
2.706
|
0.365 |
|
Total
Current Assets |
13.907
|
15.537
|
16.892 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
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Sundry Creditors |
0.886
|
4.044
|
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Other Current Liabilities |
0.784
|
0.381
|
6.726 |
|
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Provisions |
0.000
|
0.000
|
0.000 |
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Total
Current Liabilities |
1.670
|
4.425
|
6.726 |
|
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Net Current Assets |
12.237
|
11.112
|
10.166 |
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MISCELLANEOUS EXPENSES |
0.006 |
0.007 |
0.009 |
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TOTAL |
13.300 |
12.433 |
11.150 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
|
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Profit |
1.802 |
1.306 |
1.113 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.15
|
1.94
|
2.63 |
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Current Ratio (Current Asset/Current Liability) |
|
8.33
|
3.51
|
2.51 |
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL RESULTS:
The company has reported
a profit of Rs.1.802 millions for the financial year ended on 31st
March, 2010 as compared to profit of Rs. 1.306 millions during the previous
year.
|
Name of the company |
RANK OFFICE
AUTOMATION PRIVATE LIMITED |
|
Presented By |
Company and State
Bank of |
|
1) Date and description of instrument creating the change |
Hypothecation
agreement for goods and assets dated 31.12.2005 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.6.000 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 |
All present an
future goods, book debts and all other movable assets of the borrower
including documents of title to the goods, outstanding monies, receivables by way of cash
incentive / cash assistance under the cash incentive scheme or any other
scheme, clams including claims by way of refund of excise / custom duties
under the duty draw back credit scheme or any other scheme, bills, invoices,
investments and right and the present machinery listed in the schedule
hereunto and all future machinery belonging to or in the possession or under
the control of the borrower or of the bank or of any third party whether in
India or wherever else throughout the world (including all such goods, other
movable assets as may be in course of shipment transit or delivery)
(hereinafter referred to as “the said goods and assets”) shall stand
hypothecation to the bank by way of first charge. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of interest
@ 0.50% below BPIP 10% p.a. |
|
5) Name and Address and description of the person entitled to the charge. |
State Bank of |
|
6) Date and brief description of instrument modifying the charge |
N.A. |
|
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. |
N.A. |
FIXED ASSETS:
- Air Conditioner
- Furniture and Fixture
- Computer
- Scooter
- Vehicles
- Fax Machine
- Shop No.26 Daryaganj
- Vaccum Cleaner
- Water Cooler
- Weight Machine
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.44.33 |
|
|
1 |
Rs.70.74 |
|
Euro |
1 |
Rs.63.65 |
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 |
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 |
NO |
|
--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 |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.