MIRA
INFORM REPORT
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Report Date : |
21.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
CREST HEALTHCARE PRIVATE LIMITED |
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Registered
Office : |
1002 A, Shimmering Heights, Powai Vihar, Powai, Mumbai-400076,
Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
18.07.2005 |
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Com. Reg. No.: |
11-154848 |
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Capital Investment
/ Paid-up Capital : |
Rs. 12.000 millions |
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CIN No.: [Company Identification
No.] |
U24230MH2005PTC154848 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Supplier of comprehensive range of pharmaceutical
products. |
RATING & COMMENTS
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MIRA’s Rating : |
B (33) |
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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 87000 |
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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. The company
has steadily improved its performance. 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
|
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 : |
1002 A, Shimmering Heights, Powai Vihar, Powai, Mumbai-400076,
Maharashtra, India |
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Tel. No.: |
91-1795-245686 |
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Fax No.: |
91-1795-245566 |
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E-Mail : |
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Factory 1: |
103-104 Village Khata Po Baddi District Solan-173205,
Himachal Pradesh, India |
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Tel. No.: |
91-1795-245686 / 245687 |
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Fax No.: |
91-1795-245566 |
DIRECTORS
AS ON 30.09.2010
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Name : |
Mr. Sushil Khanna |
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Designation : |
Director |
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Address : |
Flat K-12, Tara Apartment, Alaknanda Kalkaji, New Delhi-110019, Delhi,
India |
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Date of Birth/Age : |
02.05.1949 |
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Date of Appointment : |
02.05.2007 |
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DIN No : |
01535434 |
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Name : |
Mr. Rajiv Sharma |
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Designation : |
Director |
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Address : |
1081, Sector 4, Panchkula, Haryana, India |
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Date of Birth/Age : |
02.11.1966 |
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Date of Appointment : |
15.08.2006 |
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DIN No : |
00860026 |
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Name : |
Mr. Ashok Manpilly Komaran |
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Designation : |
Director |
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Address : |
N-5, E-37-0-3, Gulmohar Colony, Aurangabad-431003, Maharashtra, India |
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Date of Birth/Age : |
23.01.1953 |
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Date of Appointment : |
01.12.2008 |
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DIN No : |
02415267 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
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Names of Shareholders |
No. of Shares |
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Samita Khanna |
36000 |
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Veena Khanna |
2000 |
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Sushil Khanna |
10000 |
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Total
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48000 |
AS ON 30.09.2010
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Category |
Percentage |
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Directors or relatives of Directors |
71.00 |
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Other top fifty shareholders |
29.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Supplier of comprehensive range of pharmaceutical
products. |
GENERAL INFORMATION
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Bankers : |
·
Karnataka Bank limited, S.C.O.66, Sector 11,
Panchkula-134109, Haryana, India |
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Facilities : |
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Banking
Relations : |
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Auditors : |
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Name : |
Sanjay Arora and Associates Chartered Accountant |
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Address : |
SCO 117 118, 2ne Floor, Sector 17 B, Chandigarh-160017, India |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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120000 |
Equity Shares |
Rs.100/- 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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120000 |
Equity Shares |
Rs.100/- each |
Rs. 12.000 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 |
12.000 |
12.000 |
12.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
9.813 |
5.690 |
1.989 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
21.813 |
17.690 |
13.989 |
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LOAN FUNDS |
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1] Secured Loans |
19.123 |
23.626 |
31.620 |
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2] Unsecured Loans |
10.157 |
8.719 |
11.503 |
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TOTAL BORROWING |
29.280 |
32.345 |
43.123 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
51.093 |
50.035 |
57.112 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
37.304 |
37.415 |
37.612 |
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Capital work-in-progress |
0.000 |
1.812 |
2.587 |
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INVESTMENT |
0.090 |
0.090 |
0.090 |
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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 |
5.884
|
8.920 |
6.224 |
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Sundry Debtors |
13.075
|
7.263 |
4.999 |
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Cash & Bank Balances |
0.087
|
0.696 |
5.848 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
10.296
|
10.120 |
13.312 |
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Total
Current Assets |
29.342
|
26.999 |
30.383 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
11.496
|
13.404 |
12.868 |
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Other Current Liabilities |
3.346
|
2.563 |
0.000 |
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Provisions |
0.828
|
0.354 |
0.746 |
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Total
Current Liabilities |
15.670
|
16.321 |
13.614 |
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Net Current Assets |
13.672
|
10.678 |
16.769 |
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MISCELLANEOUS EXPENSES |
0.027 |
0.040 |
0.054 |
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TOTAL |
51.093 |
50.035 |
57.112 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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TURNOVER |
84.181 |
74.516 |
62.801 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
5.189 |
4.402 |
1.980 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
2.982 |
2.320 |
(0.005) |
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PROFIT BEFORE TAX
|
2.207 |
2.082 |
1.985 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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Net Profit Margin (PBT/Sales) |
(%) |
2.62
|
2.79 |
3.16 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.31
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3.23 |
2.92 |
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Return on Investment (ROI) (PBT/Networth) |
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0.10
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0.12 |
0.14 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.06
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2.75 |
4.06 |
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Current Ratio (Current Asset/Current Liability) |
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1.87
|
1.65 |
2.23 |
LOCAL AGENCY FURTHER INFORMATION
Note : Registered Office
of the company has been shifted from 601, Anmol Powai Vihar, Mumbai-400076, Maharashtra,
India to the present address w.e.f. 02.08.2010
PERFORMANCE
The turnover of
the company for the year is Rs. 84.181 millions as compared to the previous
year of Rs. 74.516 millions. The company incurred net profit of Rs 5.189
millions as compared to previous years profit of Rs. 4.402 millions after
depreciation of Rs.2.207 millions and Rs. 2.082 millions respectively.
FORM 8
|
Corporate
identity number of the company |
U24230MH2005PTC154848 |
|
Name of the
company |
CREST
HEALTHCARE PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
1002 A, Shimmering Heights, Powai Vihar, Powai, Mumbai-400076,
Maharashtra, India |
|
This form is for |
Creation of charge |
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Type of charge |
Immovable property Book debts Movable property (not being pledge) |
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Particular of
charge holder |
Karnataka Bank limited, S.C.O.66, Sector 11, Panchkula-134109,
Haryana, India |
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Nature of
instrument creating charge |
Term
Loan Agreement Dated 26/11/2010 |
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Date of
instrument Creating the charge |
26.11.2010 |
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Amount secured by
the charge |
Rs. 3.700 millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Base
Rate Plus 4.50% i.e. 13.50% P.A. At Present With Monthly Rests Terms of
repayment Payable
in 57 equated monthly installments of Rs. 0.088 million each after an initial
holiday Period of 3 months. Interest to be serviced on monthly basis on and when
debited during Holiday period. Margin 25%
on value of new machinery and other fixed assets already purchased and to be
purchased. Extent and
operation of the charge 100% |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation
of new machineries, electrical installations tube well, epoxy/painting work,
air Conditioner, D.G set and other furniture and fixtures, purchased and to
be purchased at a Total cost of Rs 4.943 millions Located
at 103-104 Village Khata Po Baddi District Solan belonging to Crest Health
Care Private Limited Hypothecation
of stocks and book debts |
FIXED ASSETS
·
Plant and Machinery
·
Electrical Installation
·
Mobile Set
·
Computers
·
Office Equipments
·
Vehicles
·
Furniture and Fixtures
·
Cycle
·
Factory
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. 44.46 |
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|
1 |
Rs.71.67 |
|
Euro |
1 |
Rs.62.94 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
33 |
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.