%20PRIVATE%20LIMITED-148256%2021-Jul-2011_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
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Report Date : |
21.07.2011 |
IDENTIFICATION DETAILS
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Name : |
FOWLER WESTRUP ( |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
27.01.2000 |
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Com. Reg. No.: |
11-123855 |
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Capital
Investment/ Paid-up Capital: |
Rs.74.500 Millions |
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CIN No.: [Company
Identification No.] |
U74999MH2000PTC123855 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRF00404F |
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PAN No.: [Permanent
Account No.] |
AAACF5164H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Transformers Oil Conditioning |
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No. of
Employees: |
Approximately 156 (In Office 6 and In Corporate Office
150) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (50) |
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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 1400000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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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) |
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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 : |
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Tel. No.: |
91-22-259183511/ 7832992/ 27832995 |
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Fax No.: |
91-22-25916456/ 27831594 |
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E-Mail : |
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Website : |
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Area : |
Approximately 3000 Sq. ft. |
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Location : |
Leased |
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Corporate Office : |
Plot No. 249, 259, 3rd Phase, Bhommasandra, |
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Tel. No.: |
91-80-27832992/ 27831594/ 27834440/ 27834441 |
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Fax No.: |
91-80-27831594 |
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Email : |
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Factory : |
198, |
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Tel. No.: |
91-22-22850028 |
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Regional Office : |
Located at: ·
·
Kolkata ·
Mumbai ·
·
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DIRECTORS
16.06.2010
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Name : |
Mr. Badrinarayan Ramulal Barwale |
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Designation : |
Chairman cum Managing Director |
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Address : |
78 – B, Urvashi Prtit Estate, Nepean Sea Road, Mumbai – 400006,
Maharashtra, India |
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Date of Birth/Age : |
13.08.1931 |
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Date of Appointment : |
27.01.2000 |
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DIN No.: |
00001479 |
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Name : |
Mr. Rajendra Badrinarayan Barwale |
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Designation : |
Director |
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Address : |
78 – B, Urvashi Prtit Estate, Nepean Sea Road, Mumbai – 400006,
Maharashtra, India |
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Date of Birth/Age : |
12.12.1955 |
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Date of Appointment : |
27.01.2000 |
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DIN No.: |
00001678 |
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Name : |
Mr. Arun Kannan Thiagarajan |
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Designation : |
Director |
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Date of Birth/Age : |
07.09.1944 |
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Date of Appointment : |
19.12.2007 |
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DIN No.: |
00292757 |
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Name : |
Mr. Vijaykumar Balakrishna Kilar |
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Designation : |
Managing Director |
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Address : |
F 602, Red Wood, Raheja Residency, 3rd Block, Koramangala, |
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Date of Birth/Age : |
01.12.1952 |
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Qualification : |
BE (Chem. Engg) |
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Date of Appointment : |
01.09.2003 |
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Last Employment : |
Vice President, Elgi Equipment Limited |
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DIN No.: |
00394346 |
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Name : |
Mr. Peter Thorn |
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Designation : |
Director |
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Address : |
Atterbakkevej 18, Dysted Holnegaard |
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Date of Birth/Age : |
29.09.1966 |
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Date of Appointment : |
12.12.2008 |
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DIN No.: |
02539405 |
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Name : |
Mr. Ramkrishan Jalan |
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Designation : |
Director |
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Address : |
56 Rajmahal Vilas Extention, 1st Block, 4th
Cross, |
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Date of Birth/Age : |
30.07.1943 |
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Date of Appointment : |
05.02.2001 |
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DIN No.: |
00012430 |
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Name : |
Mr. Arun Goyal |
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Designation : |
Alternate Director |
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Address : |
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Date of Birth/Age : |
04.05.1945 |
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Date of Appointment : |
01.08.2001 |
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DIN No.: |
01381528 |
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Name : |
Mr. Mogens Dahl – Nie Lsen |
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Designation : |
Director |
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Address : |
Jupiter Vej – 10 4200 |
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Date of Birth/Age : |
02.08.1945 |
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Date of Appointment : |
27.01.2000 |
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Date of Ceasing: |
22.05.2009 |
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Name : |
Mr. Ramaswamy Lakshman Kumar |
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Designation : |
Director |
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Address : |
B – 41, Manish Complex, |
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Date of Birth/Age : |
10.12.1945 |
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Date of Appointment : |
01.09.2002 |
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Date of Ceasing: |
30.09.2003 |
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Name : |
Mr. Sudhir Dravid |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
03.05.1966 |
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Date of Appointment : |
27.01.2000 |
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Date of Ceasing: |
17.05.2005 |
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Name : |
Mr. Jacob Lund |
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Designation : |
Director |
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Address : |
Mildursvej 3, DK – 4200, |
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Date of Birth/Age : |
30.11.1963 |
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Date of Appointment : |
01.10.2001 |
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Date of Ceasing: |
22.05.2009 |
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Name : |
Mr. Sridhar Sampath |
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Designation : |
Director |
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Address : |
Flat 8, Aparna, 46 (Old), |
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Date of Birth/Age : |
21.06.1964 |
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Date of Appointment : |
28.02.2007 |
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Date of Ceasing: |
19.09.2007 |
KEY EXECUTIVES
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Name : |
Ms. |
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Designation : |
Secretary |
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Address : |
131, Jnana 38th Main, 4th Cross, BTM
Layout, Bangalore – 560068,
Karnataka, India |
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Date of Birth/Age : |
05.10.1961 |
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Date of Appointment : |
15.11.2002 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(As on 16.06.2010)
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Names of Shareholders |
No. of Shares |
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John Fowler ( |
4450000 |
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Westrup A/S, |
3000000 |
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Total |
7450000 |
Equity Share Breakup (Percentage of Total Equity)
(As on 30.09.2010)
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Category |
Percentage |
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Foreign holdings (Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas corporate bodies or Others |
40.00 |
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Bodies corporate |
60.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Transformers Oil Conditioning |
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Products : |
·
Transformer Oil Conditioning Machinery ·
Agricultural Products Processing Machinery · Pre Cleaner · Fine Cleaner · Indented Cylinder · Gravity Separator · Destoner · Handling Equipment ·
Accessories
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PRODUCTION STATUS AS ON (31.03.2010)
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Particulars |
Unit |
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Installed
Capacity* |
Actual
Production# |
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Transformer oil conditioning equipment and allied equipment |
Qty. nos. |
|
275 |
128 |
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Agricultural products processing machinery and allied equipments |
Qty. nos. |
|
1500 |
1085 |
* As certified by the Managing Director and relied
on by the auditors being a technical matter.
# Includes items manufacturer through
sub-contractors. Licensed capacity- not applicable.
GENERAL INFORMATION
|
Suppliers |
As on 31.03.2009 ·
Kiran Engineering ·
Metallist Mechanical Engineers ·
Penta Force Industrial ·
SSS Industries ·
Toyo Paints Private Limited |
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No. of Employees : |
Approximately 156 (In Office 6 and In Corporate Office
150) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Sharp and Tannan Chartered Accountant |
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Address : |
Ravindra Annexe, 194, Churchgate Reclamation, |
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Tel No.: |
91-22-22047722/ 23/ 66338343-47 |
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Fax No.: |
91-22-66338352 |
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E mail: |
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Holding Company : |
·
John Fowler ( |
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Company having
substantial interest : |
·
Westrup A/s, |
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Subsidiary : |
·
Radix Systems Limited |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
9000000 |
Equity Shares |
Rs.10/- Each |
Rs.90.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
7450000 |
Equity Shares |
Rs.10/- Each |
Rs.74.500 Millions |
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NOTE:
Of the above equity shares 4450000 are issued and
allotted to John Fowler (
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 |
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|
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1] Share Capital |
74.500 |
74.500 |
60.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
277.316 |
189.805 |
99.928 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
351.816 |
264.305 |
159.928 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
40.746 |
52.225 |
52.263 |
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TOTAL BORROWING |
40.746 |
52.225 |
52.263 |
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DEFERRED TAX LIABILITIES |
9.569 |
10.770 |
6.269 |
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TOTAL |
373.131 |
327.300 |
218.460 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
210.813 |
178.304 |
167.850 |
|
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Capital work-in-progress |
55.530 |
7.305 |
0.000 |
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|
|
|
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INVESTMENT |
140.910 |
85.652 |
56.203 |
|
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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 |
72.863
|
66.266
|
59.791
|
|
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Sundry Debtors |
91.384
|
80.794
|
35.169
|
|
|
Cash & Bank Balances |
10.034
|
15.032
|
9.108
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
62.866
|
20.871
|
18.872
|
|
Total
Current Assets |
237.147
|
182.963
|
122.940
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
72.485
|
39.926
|
47.288
|
|
|
Other Current Liabilities |
91.685
|
45.879
|
43.737
|
|
|
Provisions |
78.099
|
41.119
|
37.508
|
|
Total
Current Liabilities |
242.269
|
126.924
|
128.533
|
|
|
Net Current Assets |
[5.122]
|
56.039
|
(5.593)
|
|
|
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|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
402.131 |
327.300 |
218.460 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
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SALES |
|
|
|
|
|
|
|
Sales and Service Charges |
851.397 |
719.266 |
434.198 |
|
|
|
Other Income |
6.578 |
9.042 |
6.798 |
|
|
|
TOTAL (A) |
857.975 |
728.308 |
440.996 |
|
|
|
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|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
443.464 |
429.859 |
219.649 |
|
|
|
Employee Cost |
70.190 |
55.556 |
44.000 |
|
|
|
Manufacturing, Selling and Administrative Expenses |
152.291 |
141.981 |
87.226 |
|
|
|
TOTAL (B) |
665.945 |
627.396 |
350.875 |
|
|
|
|
|
|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
192.030 |
100.912 |
90.121 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.687 |
0.144 |
3.963 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
190.343 |
100.768 |
86.158 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
21.470 |
17.466 |
11.901 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
168.873 |
83.302 |
74.257 |
|
|
|
|
|
|
|
|
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Less |
TAX (H) |
55.299 |
31.024 |
29.487 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
113.574 |
52.278 |
44.770 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
124.640 |
96.528 |
69.197 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
11.400 |
5.250 |
3.400 |
|
|
|
Tax on Dividend |
3.712 |
2.748 |
2.039 |
|
|
|
Final Dividend |
22.350 |
16.168 |
12.000 |
|
|
BALANCE CARRIED TO
THE B/S |
200.752 |
124.640 |
96.528 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
63.058 |
53.237 |
NA |
|
|
|
Other Service Charges and Commission Earnings |
0.021 |
0.017 |
NA |
|
|
TOTAL EARNINGS |
63.079 |
53.254 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
10.882 |
6.157 |
NA |
|
|
|
Stores & Spares |
15.358 |
19.697 |
NA |
|
|
|
Capital Goods |
37.062 |
1.867 |
NA |
|
|
TOTAL IMPORTS |
63.302 |
27.721 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
15.24 |
8.10 |
7.46 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
13.24 |
7.18 |
10.15 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
19.83 |
11.58 |
17.10 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
37.70 |
23.06 |
25.54 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.48 |
0.32 |
0.46 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.80 |
0.68 |
1.13 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.98 |
1.44 |
0.96 |
LOCAL AGENCY FURTHER INFORMATION
NOTE:
The Registered Address of the Company has been shifted from 19, Khetan
Bhavan 198,
Contingent
Liabilities not provided for :
a)
Guarantees given to various authorities/customers
Rs. 49.618 Millions (Previous yare Rs. 30.175 Millions)
b)
Letter of Credit issued in favour of creditors Rs. 3.760
Millions (Previous year Rs. Nil)
Form No. 8
|
Name of the company |
FOWLER WESTRUP INDIA PRIVATE LIMITED |
|
Presented By |
ING Vysya Bank Limited 22 M G Road, |
|
1) Date and description of instrument creating the change |
Date – 04.11.2003 Equitable mortage by deposited of title deeds – Letter evidencing
deposit of title deeds |
|
2) Amount secured by the charge/amount owing on the securities of
charge |
Rs.42.500 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 |
Equitable mortgage of company’s immovable properties bearing No. 249
& 250 situated at Bommasandra industrial area in survey No. 205, 6, 8, 9
& 212, Bommasandra Village, Attibele Hobli, Anekal taluk, Bangalore
District measuring 14347 Sq. Mtrs. Of land together with the constructions
measuring 4452 Sq. Mtrs. |
|
4) Gist of the terms and conditions and extent and operation of the
charge. |
Rate of Interest & other terms & conditions as applicable and
as advised by the bank from time to time for the respective facilities |
|
5) Name and Address and description of the person entitled to the
charge. |
ING Vysya Bank Limited, 22 M G Road, |
|
6) Date and brief description
of instrument modifying the charge |
Date – 29.07.2005 Equitable mortage by deposited of title deeds – Letter evidencing
deposit of title deeds |
|
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. |
By the above agreement the loan amount secured by the charge stands increased
from Rs. 42.500 Millions to Rs. 53.300 Millions |
|
Corporate
identity number of the company |
U74999MH2000PTC123855 |
|
Name of the
company |
FOWLER WESTRUP INDIA PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
|
|
This form is for |
Creation of
charge |
|
Type of charge |
·
Immovable
property |
|
Particular of
charge holder |
Barclays Bank Plc, 20/21, Kamaraj Salai, Kanchipuram-631501, |
|
Nature of
instrument creating charge |
Memorandum of
Entry |
|
Date of
instrument Creating the charge |
24.06.2011 |
|
Amount secured by
the charge |
Rs. 360.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
·
Rate
of Interest As agreed by and with the Bank from time to time. ·
Terms
of repayment As agreed by and with the Bank from time to time. ·
Margin As agreed by and with the Bank from time to time. ·
Extent
and operation of the charge Second charge by way of Mortgage on Immovable property of the company,
in favour of Barclays Ban PLC, to secure the repayment of financial
facilities granted by the bank to the company. |
|
Short particulars
of the property charged |
Second charge on |
|
Corporate
identity number of the company |
U74999MH2000PTC123855 |
|
Name of the
company |
FOWLER WESTRUP INDIA PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
|
|
This form is for |
Creation of
charge |
|
Type of charge |
·
Immovable
property ·
Any
interest in immovable property |
|
Particular of
charge holder |
Yes Bank Limited 9th Floor, Nehru Centre, Discovery of |
|
Nature of
instrument creating charge |
Equitable
Mortgage is created by deposit of title deeds. |
|
Date of
instrument Creating the charge |
09.02.2008 |
|
Amount secured by
the charge |
Rs.100.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
·
Rate
of Interest For Cash credit: 4.5% below YBL PLR Prevailing from time to time.
Current YBL PLR is 15.50% p.a. Hence, the current effective rate would be
11.00% p.a. For Bank Guarantee: 0.75% p.a. For Letters of credit : 0.15% p.a. for at sight 0.75% p.a. on prorate for USANCE period Bill Discounting (Inland and Foreign): 6.5% below YBL’s Prime Lending
Rate (PLR) Currently YBL PLR is 15.50% p.a. Hence, the current effective rate would be 9.50% p.a. ·
Terms
of repayment Cash Credit : On Demand/Annual Review Bill Discounting (Inland / Foreign) : Maximum tenor of 90 days Bank Guarantee : Tenor: Financial BG for 12 months (including claim
period) and Performance BG for 36 months (including claim period) Letters of Credit : Validity plus Usance 180 days ·
Margin NA ·
Extent
and operation of the charge Equitable Mortgage for the land and building of Flower Westrup (India)
Private Limited at No. 249 and 250, 3rd Phase, Bommasandra
Industrial Area, Bangalore – 560 099 to Cover the following facilities: Cash Credit Limit of INR 50 million, Bill Discounting (Inland
/Foreign) for INR 20 million as sublimit of Cash Credit, Letter of Credit/
Bank Guarantee of INR 50 million |
|
Particulars of
the property charged |
Land and Building
of Fowler Westrup (India) Private Limited located at No. 249 and 250, 3rd
Phase, Bommasandra Industrial Area, Bangalore – 560099, India |
FIXED ASSETS
- Land –
Freehold
- Building
- Plant and
Machinery
- Furniture and
Fixture
- Office
Equipment
- Vehicles
WEBSITE DETAILS
PROFILE:
Subejct was incorporated in the year 2000 as a joint venture
between John Fowler (
The Joint venture promoter John Fowler India has been
serving the Indian Industry since 1953. The Joint venture made it
possible to absorb new technology rapidly to serve the domestic as well as
global markets.
Company total solutions and Turnkey Projects to meet the
varying demands of the customer.
Company is committed to providing equipments and services of
the highest quality standards encompassing suitability for intended use,
performance reliability, safety and durability. This is reflected in the
Values, Vision and
Company is located at Plot No. 249 and 250, 3rd Phase,
Bommasandra Industrial Area, Bangalore 560 099, India, close to NH7 on
Bangalore – Hosur Highway, 5 kms from the Electronics City. The modern factory
has a state-of-the-art manufacturing facility.
The product range of company is augmented by the Gravity
Separators and De-stoners for Seeds/ Grains through Technical Collaboration
with Oliver of USA. (www.olivermfgco.com)
Company has a Technical Collaboration with Silos Cordoba of
Spain for Grain Storage Silo systems. The manufacturing range includes GIC
(Galvanised Iron Corrugated) Silos with capacity from 10 tons to 1500 Metric
tons of Hopper Bottom Silos and for 250 to 15,000 Metric tons of Flat Bottom
Silos. The wallrings of these silos are made of high grade galvanized steel
which offers resistance to corrosion and erosion. The design combines the
requirement of their clients with the most modern materials and technological
innovations. Fowler Westrup supplies complete Grain Storage Systems for
operations starting from the time the grain arrives at the customer place up to
bagging and delivering for dispatch.
The Post Harvest Agricultural processing machinery includes
Pre Cleaners, Fine Cleaners, Gravity Separators, De-stoners, Indented Cylinders
and a variety of conveyors, bucket elevators, bins, dust handling equipments
and offer turnkey plants for processing hybrid seeds, grains like Rice, Wheat,
Maize, nuts, spices, beans, coffee, tea and for most of the agricultural
products.
The Transformer Oil conditioning and filtration machines are
manufactured under the brand name NIRMAL which can also handle Capacitor Oil
and Silicone Fluids. NIRMAL FILTERS for decades have been serving the power
sector and is synonymous with Transformer Oil Filtration in
Addition to the basket of products has come through
Transformer Oil Regeneration machine. Regeneration is the system followed when
oil purification is insufficient and restoration of the oil is required to
virgin oil specifications. This will ensure the control of acidity level
of the oil thus giving prolonged life to the expensive transformers.
Company employs qualified and experienced manpower trained
in
In order to have quick response mechanism to meet the
customer needs, the company has implemented SAP ERP Package to strengthen
information network and processing. The company aims to have zero defects in
all its operations. Total Quality Management including Six Sigma is part of the
initiatives to be a supplier of delight to the customers.
The company has been able to establish a cliental of repute
both in Public and Private sectors for Seed Processing machines and Transformer
Oil Filtration machines and the business has gone up ten fold in the span of 7
years of commercial operations.
Corporate Social Responsibility is always a priority at
company. Company is helping a leading charitable trust towards adoption and
development of a village panchayat Deburu comprising of 4 villages Deburu,
Byalaru, Handuvinahalli, Kathwadi Pura and Kallalli – 30 kms from
Company is now proud to have its presence in UK through its
wholly owned subsidiary Radix Systems Limited located at Premier Centre, Abbey
Park, Romsey, Hampshire, England for manufacture of Opto Electronic sorters for
Grain, seeds, Nuts, pulses, Biscuits, confectionery and formed products,
Cereals, snacks, Potato products, Vegetables and fruits, light weight products
– flakes and herbs, Rice etc.(www.radixsystems.co.uk)
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 |
|
|
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 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
50 |
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.