MIRA
INFORM REPORT
|
Report Date : |
26.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
DELHI INTERNATIONAL AIRPORT PRIVATE LIMITED |
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Registered Office : |
New Udaan Bhawan, Terminal 3, Opposite ATC Complex, International Terminal,
I G I Airport, New Delhi-110037 |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
01.03.2006 |
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Com. Reg. No.: |
55-146936 |
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Capital
Investment / Paid-up Capital : |
Rs. 12000.000 Millions |
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CIN No.: [Company
Identification No.] |
U63033DL2006PTC146936 |
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|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELD08985E |
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PAN No.: [Permanent
Account No.] |
AACCD3570F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Providing of Airport maintenance services and repairing services. |
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 10100000 |
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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 a joint venture between GMR Group and Airport Authority of
India. It 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 |
LOCATIONS
|
Registered Office : |
New Udaan Bhawan, Terminal 3, Opposite ATC Complex, International Terminal,
I G I Airport, New Delhi-110037, |
|
Tel. No.: |
91-11-47197001 |
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Fax No.: |
91-11-47197034 |
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E-Mail : |
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Website : |
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Corporate Office : |
GMR Group, IBC Knowledge Park, Phase 2, "D" Block,
9th Floor, 4/1, Bannerghatta Road, Bangalore - 560 029, Karnataka, India |
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Tel No.: |
91-80-40432180 |
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Fax No.: |
91-80-40432000 |
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E-Mail : |
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Branches : |
Located At : ·
New Delhi ·
Himachal
Pradesh ·
Bhubaneswar ·
Orissa ·
Uttarakhand ·
Chandigarh ·
Maharashtra ·
Karnataka ·
Tamil Nadu · Andhra Pradesh |
DIRECTORS
As on : 18.06.2010
|
Name : |
Mr. Grandhi Mallikarjuna Rao |
|
Designation : |
Chairman |
|
Address : |
No.486/76, 38th Cross, 1st Main, 8th
Block, Jayanagar, Bangalore – 560082, Karnataka, India |
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Date of Birth/Age : |
01.07.1949 |
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Date of Appointment : |
19.04.2006 |
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Din No.: |
00574243 |
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Name : |
Mr. Kiran Kumar Grandhi |
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Designation : |
Director |
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Address : |
No.486/76, 38th Cross, 1st Main, 8th
Block, Jayanagar, Bangalore – 560082, Karnataka, India |
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Date of Birth/Age : |
13.09.1975 |
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Date of Appointment : |
19.04.2006 |
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Din No.: |
00061669 |
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Name : |
Mr. Srinivas Bommidala |
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Designation : |
Director |
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Address : |
No. 309, 3rd Cross, 2nd Stage, Devasandra, RMV
Extension, Bangalore – 560094, Karnataka, India |
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Date of Birth/Age : |
01.03.1963 |
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Date of Appointment : |
19.04.2006 |
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Din No.: |
00061464 |
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Name : |
Mr. Siddaiah Bangalore |
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Designation : |
Director |
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Date of Birth/Age : |
10.06.1957 |
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Date of Cessation: |
18.05.2009 |
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Date of Appointment : |
21.01.2008 |
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Name : |
Mr. Kada Narayana Rao |
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Designation : |
Director |
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Address : |
104 Durga Vihar, Gunnrock Avenue, Secunderabad – 500015, Andhra
Pradesh, India |
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Date of Birth/Age : |
01.04.1955 |
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Date of Appointment : |
17.04.2007 |
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Name : |
Mr. Grandhi Butchi Sanyasi Raju |
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Designation : |
Director |
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Address : |
No.486/76, 38th Cross, 1st Main, 8th
Block, Jayanagar, Bangalore – 560082, Karnataka, India |
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Date of Birth/Age : |
26.01.1974 |
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Date of Appointment : |
19.04.2006 |
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Din No.: |
00061686 |
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Name : |
Mr. Subba Rao |
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Designation : |
Director |
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Address : |
D-168, 1st Floor, Defence Colony, New Delhi – 110024,
Delhi, India |
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Date of Birth/Age : |
15.11.1951 |
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Date of Appointment : |
19.04.2006 |
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Din No.: |
00064511 |
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Name : |
Mr. Bashir A A Majid |
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Designation : |
Director |
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Address : |
No.17, Jalan Pju, 3/416 C, Damansara Indah, resort Homes, Petaling
Jaya, Selangor, Malaysia – 47410 |
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Date of Birth/Age : |
20.06.1946 |
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Date of Appointment : |
19.04.2006 |
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Din No.: |
01563213 |
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Name : |
Mr. Praveen Seth |
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Designation : |
Director |
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Address : |
A-14, Geetanjali Enclave, New Delhi – 110017, Delhi, India |
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Date of Birth/Age : |
27.08.1950 |
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Date of Appointment : |
01.03.2006 |
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Din No.: |
00507654 |
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Name : |
Mr. Raju Bangaru |
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Designation : |
Director |
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Date of Birth/Age : |
21.12.1956 |
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Date of Appointment : |
16.09.2007 |
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Din No.: |
00082228 |
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|
Name : |
Mr. Umar Bin Bustama |
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Designation : |
Director |
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Date of Birth/Age : |
15.01.1953 |
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Date of Appointment : |
26.04.2006 |
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|
Name : |
Mr. Christoph Hans Nanke |
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Designation : |
Director |
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Date of Birth/Age : |
05.08.1966 |
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Date of Appointment : |
23.07.2007 |
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Name : |
Mr. Ravela Sri Satya Lakshami Narasimha Bhaskarudu |
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Designation : |
Director |
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Address : |
H. No.2210, Sector D, Pocket – 2, Vasant Kunj, New Delhi, India |
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Date of Birth/Age : |
01.07.1940 |
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Date of Appointment : |
18.03.2009 |
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Name : |
Mr. Alok Sinha |
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Designation : |
Director |
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Address : |
20B, Sector 14-A, Noida, Uttar Pradesh, India |
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Date of Birth/Age : |
15.10.2009 |
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Date of Appointment : |
16.04.1962 |
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Name : |
Mr. Satish Chandra Chhatwal |
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Designation : |
Director |
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Address : |
Mahanadi Niwas, Nalco Nagar, C.S. Pur, Bhubaneshwar, Orissa, India |
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Date of Birth/Age : |
20.07.1952 |
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Date of Appointment : |
05.12.2008 |
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|
Name : |
Mr. Arun Mishra |
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Designation : |
Director |
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Date of Birth/Age : |
26.06.1962 |
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Date of Appointment : |
18.03.2009 |
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Date of Ceasing : |
15.10.2009 |
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|
Name : |
Mr. Srinivasan Manthattai |
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Designation : |
Secretary |
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Address : |
Sri Nivas 37, Union Carbide, Colony Extension, Ullagaram, Maddipakkam (PO),
Chennai – 600091, Tamilnadu, India |
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Date of Birth/Age : |
21.02.1959 |
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Date of Appointment : |
31.10.2008 |
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Name : |
Mrs. Binti Khairuddin |
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Designation : |
Director |
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Address : |
No.3, Jalan NBidai, UB/13E, Bukti, Jelutong, Shah Alam, Selamgor |
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Date of Birth/Age : |
20.09.1967 |
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Date of Appointment : |
15.10.2009 |
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|
Name : |
Mr. Ansgar Sickert |
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Designation : |
Director |
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Address : |
K-80, Hauz Khas Enclave, New Delhi, India |
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Date of Birth/Age : |
22.10.1966 |
|
Date of Appointment : |
18.03.2009 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on : 18.06.2010
|
Names of Shareholders |
No. of Shares |
|
GMR Infrastructure Limited, Karnataka |
420000000 |
|
GMR Energy Limited, Karnataka |
120000000 |
|
GMR Airport Holdings Limited, Karnataka |
108000000 |
|
Airports Authority of India, Delhi |
312000000 |
|
Fraport A G Frankfurt Airport Services Worldwide, Germany |
120000000 |
|
Malaysiya Airports (Mauritius) Private Limited, Mauritius |
120000000 |
|
|
|
|
Total |
1200000000 |
As on : 18.06.2010
|
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] |
|
20.00 |
|
Bodies corporate |
|
80.00 |
|
|
|
|
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing of Airport maintenance services and repairing services. |
GENERAL INFORMATION
|
Bankers : |
Axis Bank Limited, Central Office, Capital Markets Department, 11th
floor, F wing, |
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Facilities : |
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Banking Relations
: |
-- |
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Auditors : |
|
|
Name : |
S.R. Batlliboi and Associates Chartered Accountant |
|
Address : |
6th Floor, H T House, 18-20, Kasturba Gandhi Marg, New
Delhi – 110001, Delhi, India |
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Tel. No.: |
91-40-66246600 |
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|
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Holding Company: |
·
GMR Infrastructure Limited CIN No.: L45203KA1996PLC034805 |
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Ultimate Holding Company: |
GMR Holding Private Limited |
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Enterprises in respect of Which the company is a Joint Venture : |
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Enterprises Which are Joint ventures of the company : |
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Enterprises owned or significantly influenced by the key management personnel or their
relatives: |
·
GMR Varalakshmi Foundation ·
GMR Aviation Private Limited ·
Raxa Security Services Limited |
|
|
|
|
Associates Companies : |
·
Celebi Delhi Cargo Terminal Management India Private
Limited ·
Delhi Cargo Service Center Private Limited |
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|
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|
Fellow Subsidiaries : |
|
CAPITAL STRUCTURE
AS ON : 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000000 |
Equity Shares |
Rs. 10 /- each |
Rs. 20000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1200000000 |
Equity Shares |
Rs. 10 /-
each |
Rs.
12000.000 Millions |
|
|
|
|
|
Note :
Out of the above 648000000 Equity Shares, fully paid-up, are
held by GMR Infrastructure Limited, the holding company, along with its
subsidiaries
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 |
12000.000 |
12000.000 |
7000.000 |
|
|
2] Share Application Money |
12500.000 |
12500.000 |
5500.000 |
|
|
3] Reserves & Surplus |
823.705 |
624.987 |
859.900 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
25323.705 |
25124.987 |
13359.900 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
66389.153 |
34276.296 |
20300.000 |
|
|
2] Unsecured Loans |
19349.803 |
7153.900 |
4700.000 |
|
|
TOTAL BORROWING |
85738.956 |
41430.196 |
25000.000 |
|
|
DEFERRED TAX LIABILITIES |
275.647 |
303.044 |
434.444 |
|
|
|
|
|
|
|
|
TOTAL |
111338.308 |
66858.227 |
38794.344 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
24538.710 |
19370.451 |
2848.998 |
|
|
Capital work-in-progress |
73336.821 |
43583.772 |
23699.887 |
|
|
|
|
|
|
|
|
INVESTMENT |
9429.247 |
555.629 |
8805.421 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
47.141
|
42.232
|
0.000
|
|
|
Sundry Debtors |
1761.122
|
786.250
|
1915.652
|
|
|
Cash & Bank Balances |
1465.921
|
330.314
|
2347.934
|
|
|
Other Current Assets |
1373.915
|
764.028
|
1.317
|
|
|
Loans & Advances |
4123.034
|
2279.950
|
621.413
|
|
Total
Current Assets |
8771.133
|
4202.774 |
4886.316 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
7347.115
|
2689.250
|
3963.376
|
|
|
Provisions |
1743.126
|
25.149
|
5.705
|
|
Total
Current Liabilities |
9090.241
|
2714.399
|
3969.081
|
|
|
Net Current Assets |
(319.108)
|
1488.375
|
917.235
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
Expenditure during Construction pending allocation |
0.000 |
0.000 |
2522.803 |
|
|
Intangible Assets |
4352.638 |
1860.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
111338.308 |
66858.227 |
38794.344 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income From Services |
11532.700 |
9476.200 |
8705.800 |
|
|
|
Other Income |
185.600 |
104.800 |
50.800 |
|
|
|
Annual Fee to Airport Authority of India |
(5389.200) |
(4406.300) |
(4027.200) |
|
|
|
TOTAL (A) |
6329.100 |
5174.700 |
4729.400 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Personnel Expenses |
1016.600 |
2052.600 |
1725.100 |
|
|
|
Operating Expenses |
1830.500 |
1458.200 |
1040.000 |
|
|
|
Administration and Other Expenses |
854.400 |
942.300 |
982.700 |
|
|
|
TOTAL (B) |
3701.500 |
4453.100 |
3747.800 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2627.600 |
721.600 |
981.600 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1292.900 |
538.700 |
7.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1334.700 |
182.900 |
974.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1166.400 |
525.200 |
91.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
168.300 |
(342.300) |
882.900 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
30.600 |
107.400 |
316.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
198.900 |
(234.900) |
566.600 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
625.000 |
859.900 |
293.300 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
823.900 |
625.000 |
859.900 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Aeronautical Income |
26.100 |
27.000 |
29.300 |
|
|
|
Revenue from Concessionaries |
987.900 |
847.300 |
396.600 |
|
|
TOTAL EARNINGS |
1014.000 |
874.300 |
425.900 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
1192.000 |
737.900 |
338.200 |
|
|
TOTAL IMPORTS |
1192.000 |
737.900 |
338.200 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.17 |
(0.33) |
2.52 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
3.14
|
(4.53) |
11.97 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.45
|
(3.61) |
10.14 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.50
|
(1.45) |
11.41 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
0.00 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.74
|
1.75 |
2.20 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.96
|
1.54 |
1.23 |
LOCAL AGENCY FURTHER INFORMATION
NATURE OF
OPERATIONS :
Subject is (DIAL),
a joint venture Company [joint venture between the GMR Group consortium and Airports
Authority of India (AAI)],was incorporated on March 1, 2006 ,for managing the
operations and modernization of the Indira Gandhi International Airport (Delhi
Airport). DIAL had entered into Operation, Management and Development Agreement
(OMDA) with AAI which gives DIAL an exclusive right to operate, maintain,
develop, modernize and manage the Delhi Airport on Revenue share model for an
initial term of 30 years which can be extended by another 30 years on
satisfaction of certain terms and conditions pursuant to OMDA.
FINANCE
During the year, the Company achieved the entire disbursements from the
long term funding tied up for the project. Entire Rupee Term Loan to the extent
of Rs. 36500.000 millions stands drawn during the year. The disbursement on
account of rupee term loan during the year was Rs. 5390.000 millions.
Further, ECB loan to the extent of $ 350 million has been fully
disbursed during the last quarter of the financial year. The ECB loan has been
extended by a consortium of 6 lenders comprising of ICICI - $ 100 million, UBI
- $ 75 million, Axis Bank - $ 60 million, Bank of Baroda - $ 35 million, DBS
and Bank of India - $ 40 million each. The Company also availed a bridge loan
of Rs.18270.000 millions against Development fees out of which Rs. 2500.000
millions was disbursed in the financial year 2008-09 and the balance amount of
Rs. 15770.000 millions was disbursed during the first quarter of the financial
year 2009-10.
FIXED ASSETS :
TANGIBLE ASSETS
· Buildings
· Plant and Machinery
· Office Equipments
· Furniture and Fixtures
· Vehicles
INTANGIBLE ASSETS
· Airport Concessionaire Rights
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2010 (Rs. In
Millions) |
|
Bank Guarantee outstanding in respect of : |
|
|
- Performance Bond |
6250.000 |
|
- Customs and Others |
819.300 |
|
|
|
|
In Respect of Income tax matters and appeal |
2.900 |
|
Claims against the Company not acknowledge as debts |
1877.200 |
|
|
|
FORM 8
|
Corporate
identity number of the company |
U63033DL2006PTC146936 |
|
Name of the
company |
DELHI INTERNATIONAL AIRPORT PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
New Udaan Bhawan, Terminal 1B, Opposite ATC Complex, International
Terminal, I G I Airport, New
Delhi-110037, |
|
This form is for |
|
|
Type of charge |
Modification of
charge |
|
Particular of
charge holder |
Axis Bank Limited, Address: Central Office, Capital Markets Department, 11th
floor, F wing, Email: delia.pandit@axisbank.com
|
|
Nature of instrument
creating charge |
Supplemental Memorandum of Hypothecation dated 28.2.2011 executed by Delhi International Airport Private Limited (in capacity as the Borrower) in favour of Axis Bank Limited (in capacity as the Security Trustee) Charge creation Form SRN No. A41992355 (Charge ID - 10112534) vide dated July 25, 2008. First Modification of Charge Form SRN No. A42418426 Second Modification of charge Form SRN No.A48051288 |
|
Date of
instrument Creating the charge |
28.02.2011 |
|
Amount secured by
the charge |
Rs. 74948.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest As per the Rupee
Facility Terms of repayment As per the Rupee
Facility Margin As per the Rupee
Facility Extent and operation of the charge As described in
the attached supplemental Memorandum of Hypothecation |
|
Short particulars
of the property charged (Including location of the property) |
17.10.2008 |
|
Date of
instrument modifying the charge |
The Charge is
modified to cover the guarantee facility
and hedging facility as described in the Supplemental Memorandum of
Hypothecation dated February 28, 2011 attached herewith |
COMPANY PROFILE
Company is a joint venture consortium of GMR Group (50.1%),
Airports Authority of India (26%), Fraport and Eraman
In January 2006, the consortium was awarded the concession to operate, manage
and develop the
Besides upgrading the existing terminals, Company has already commissioned a
new runway 11-29 at
The modern domestic terminal (Terminal 1D) features several new facilities
which will improve the travel experience of domestic departure passengers
flying out of
In addition, the construction work on an integrated passenger terminal
(Terminal 3) is underway. The first phase of the airport is designed to handle
60 million passengers per annum (mppa). This phase will be completed and fully
operational before the Commonwealth Games in 2010.
This development would form just the first phase of the airport expansion. In
subsequent stages, the airport will be further developed with the increase in
passenger demand and more terminals and runways would be added in a modular
manner to form a U shaped complex with an ultimate design capacity of 100
million passengers per annum.
Salient Features of Master Plan – Phase 1
Third runway, amongst the longest in
Commercial operations commenced at new Domestic Terminal from 19th April, 2009.
State- of- the- art integrated terminal to be ready in 2010.
Terminal 3 would be a state- of- the- art complex featuring Common Use Terminal Equipment (CUTE) and an advanced 5 level in-line baggage handling system with explosive detection technology for greater efficiency and security. The check-in area would feature more than 160 check-in counters. Passengers would greatly benefit as check-in and security clearances would be faster and less obtrusive. For international passengers more than 90 desks would facilitate immigration procedures. In addition, the terminal would also feature 48 contact stands and 75 aerobridges with 9 remote stands for aircraft.
The two tier terminal building would feature the departure complex on the upper
level and the arrivals on the lower level. The roof of the building will have
stylized incisions to allow daylight, but will be angled to protect the
interior from direct sunlight. The effect would create a calm environment and
maximize the sense of volume, space and light inside. The use of natural light
would reduce the dependency on artificial light during day-time.
The arrival hall will feature both standard and wide-body baggage reclaim
belts, Passengers will emerge from bag reclaim into the Internal Landside
Arrivals Concourse from where transit passengers would use elevators to proceed
to the Departures level. 4 piers will provide access to the aircraft from the
terminal.
Access to the new terminal would be via a 6 lane approach road. The Airport
would also be connected via dedicated high speed Metro line connecting to the
city centre.
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. 44.41 |
|
|
1 |
Rs. 72.49 |
|
Euro |
1 |
Rs. 63.86 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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.