MIRA
INFORM REPORT
|
Report Date : |
26.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
NETMAGIC SOLUTIONS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
2nd Floor (North Side), Block B 2, Phase I, Nirlon Knowledge
Park, Goregaon (East), Mumbai-400063, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
30.07.1998 |
|
|
|
|
Com. Reg. No.: |
11-116053 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 187.834 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U73900MH1998PTC116053 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMN10111D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCN1254B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Provide Internet Services. |
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 3700000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having satisfactory track. There
appears huge dip in the profitability of the company. However, 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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
2nd Floor (North Side), Block B 2, Phase I, Nirlon Knowledge
Park, Goregaon (East), Mumbai-400063, Maharashtra, India |
|
Tel. No.: |
91-22-40099099 / 67139199 |
|
Fax No.: |
91-22-40099101 / 67139101 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branches : |
Located At: ·
Chennai ·
Bangalore ·
Pune ·
Delhi |
DIRECTORS
AS ON 30.09.2009
|
Name : |
Mr. Sharad Shyam Sanghi |
|
Designation : |
Managing Director |
|
Address : |
23, Seagull, Carmichael Road, Mumbai-400026, Maharashtra, India |
|
Date of Birth/Age : |
28.10.1966 |
|
Date of Appointment : |
30.07.1998 |
|
DIN No : |
00265977 |
|
|
|
|
Name : |
Mr. Rajesh Kumar Dugar |
|
Designation : |
Director |
|
Address : |
31, Chitrakoot, Altamount Road, Mumbai-400026, Maharashtra, India |
|
Date of Birth/Age : |
01.07.1969 |
|
Date of Appointment : |
24.01.2008 |
|
DIN No : |
00307729 |
|
|
|
|
Name : |
Mr. Shyam Vishnukumar Sanghi |
|
Designation : |
Director |
|
Address : |
23, Seagull, Carmichael Road, Mumbai-400026, Maharashtra, India |
|
Date of Birth/Age : |
07.06.1936 |
|
Date of Appointment : |
30.07.1998 |
|
DIN No : |
00319528 |
|
|
|
|
Name : |
Mr. Sandeep Shamsunder Singhal |
|
Designation : |
Director |
|
Address : |
241, Tanhee Heights, A Wing, 66 D Napensea Road, Mumbai-400006,
Maharashtra, India |
|
Date of Birth/Age : |
21.10.1966 |
|
Date of Appointment : |
09.07.2001 |
|
DIN No : |
00422796 |
|
|
|
|
|
|
|
Name : |
Mr. Jagdeesh Bagalur VenKatasubba Rao |
|
Designation : |
Chairman |
|
Address : |
14232, Shady Oak CT, Saratoga, CA-95070, USA |
|
Date of Birth/Age : |
19.01.1957 |
|
Date of Appointment : |
01.06.2006 |
KEY EXECUTIVES
|
Name : |
Mr. Samir Shashikant Kamat |
|
Designation : |
Secretary |
|
APN No.: |
AATPK2504Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 07.09.2010
|
Names of Shareholders |
No. of Shares |
|
Indian Equity Shareholders |
|
|
Sharad S Sanghi and Nirali Sanghi |
6952608 |
|
Tejal Lodaya and Dhanesh Lodaya |
288000 |
|
Shyam Sanghi and Sunita S Sanghi |
1632000 |
|
Dhanesh J Lodaya and Tejal D Lodaya |
703968 |
|
Jayabalan Subramanian |
343392 |
|
Global Technologies Ventures Limited, India |
327072 |
|
Manish Bhatnagar |
13163 |
|
Monika Singhvi |
5681 |
|
Foreign Equity
Shareholders |
|
|
K B Chanrashekar Trustee – The K B and Sukanyachandra Living Trust |
134016 |
|
Kanwal Rekhi |
134016 |
|
G Arjavalingam |
100512 |
|
E Ventures India Holding Private Limited |
2044032 |
|
B V Jagdeesh |
799968 |
|
Prabhakar Sundaranjan |
100512 |
|
Farrokh Billimoria |
67008 |
|
Nexus India Ventures I Investments |
10 |
|
Muticonsult Trustees Limited |
10 |
|
Total |
13645968 |
AS ON 07.09.2010
|
Names of Preference Shareholders |
No. of Shares |
|
Foreign |
|
|
FIL Capital Management (Mauritius) Limited |
25713 |
|
Nexus India Ventures I Investments |
1718740 |
|
Multiconsult Trustees Limited |
3411777 |
|
Total |
5156230 |
AS ON 07.09.2010
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
45.40 |
|
Bodies corporate |
1.74 |
|
Directors or relatives of Directors |
45.66 |
|
Other top fifty shareholders |
7.20 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Provide Internet Services. |
GENERAL INFORMATION
|
Bankers : |
·
Axis Bank Limited, Credit Management Centre,
Unit-6, corporate Park, Sion Trombay Road, Chembur, Mumbai-400071,
Maharashtra, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
Notes: The above loan are secured by: 1.
Primary Exclusive first charge by way of
hypothecation of entire current assets of the Company including stocks and
receivables both present and future. 2.
Collateral Security a.
Extension of first charge on entire fixed assets
of the Company, except vehicles, present and future. b.
Line on fixed deposits aggregating Rs. 20.000
millions |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountant |
|
Address : |
12, Dr. Annie Besant Road, Worli, Mumbai-400018, Maharashtra, India |
|
Tel. No.: |
91-22-66679000 |
|
Fax No.: |
91-22-66679100 |
|
|
|
|
Subsidiaries : |
Netmagic IT Services Private Limited CIN No.: U72900MH2005PTC153896 SKY N Land Video Networks Private Limited CIN No.: U74999MH2007PTC169494 Netmegic Solution Inc. |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
23000000 |
Equity Shares |
Rs.10/- each |
Rs. 230.000 Millions |
|
7000000 |
0.001% Cumulative Convertible Preference Shares |
Rs.10/- each |
Rs. 70.000
Millions |
|
|
Total |
|
Rs. 300.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13627124 |
Equity Shares |
Rs.10/- each |
Rs. 136.272
Millions |
|
5156230 |
0.001% Cumulative Convertible Preference Shares |
Rs.10/- each |
Rs. 51.562
millions |
|
|
Total |
|
Rs. 187.834 millions |
Notes:
1. Out of above 13485155 Equity Shares of Rs. 10/- each have been allotted
as fully paid up bonus shares by way of capitalization of Security Premium
Account in an earlier year.
2. The 0.001% Cumulative convertible preference shares are to be mandatorily
and automatically converted in to Equity
Shares at a pre-determined ration in accordance with a share subscription
agreement
AS ON 07.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
|
|
23000000 |
Equity Shares |
Rs.10/- each |
Rs. 230.000 Millions |
|
|
7000000 |
0.001% Cumulative Convertible Preference Shares |
Rs.10/- each |
Rs. 70.000
Millions |
|
|
|
Total |
|
Rs. 300.000
millions |
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13645968 |
Equity Shares |
Rs.10/- each |
Rs. 136.460
Millions |
|
5156230 |
Preference Shares |
Rs.10/- each |
Rs. 51.562
millions |
|
|
Total |
|
Rs. 188.022 millions |
AFTER AS ON
07.09.2010
Authorised Capital : Rs. 360.000
millions
Issued, Subscribed & Paid-up Capital : Rs. 205.882 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 |
187.834 |
187.834 |
187.834 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
737.256 |
737.062 |
720.856 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
925.090 |
924.896 |
908.690 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
92.667 |
28.715 |
1.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
92.667 |
28.715 |
1.000 |
|
|
DEFERRED TAX LIABILITIES |
2.881 |
1.686 |
0.000 |
|
|
STOCK OPTIONS OUTSTANDING |
1.282 |
1.282 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1021.920 |
956.579 |
909.690 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
610.798 |
391.183 |
205.072 |
|
|
Capital work-in-progress |
9.779 |
101.340 |
10.218 |
|
|
|
|
|
|
|
|
INVESTMENT |
98.394 |
248.544 |
500.099 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
1.965 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
138.061
|
94.731 |
62.798 |
|
|
Cash & Bank Balances |
49.847
|
62.431 |
61.782 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
280.770
|
205.996 |
152.031 |
|
Total
Current Assets |
468.678
|
363.158 |
276.611 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
108.876
|
80.929 |
40.370 |
|
|
Other Current Liabilities |
36.688
|
52.030 |
36.226 |
|
|
Provisions |
20.165
|
14.687 |
7.679 |
|
Total
Current Liabilities |
165.729
|
147.646 |
84.275 |
|
|
Net Current Assets |
302.949
|
215.512 |
192.336 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1021.920 |
956.579 |
909.690 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Internet Service Income |
760.185 |
564.633 |
371.134 |
|
|
|
Sale of Trading goods and materials |
7.901 |
5.427 |
22.776 |
|
|
|
Other Income |
9.484 |
28.092 |
32.010 |
|
|
|
TOTAL (A) |
777.570 |
598.152 |
425.920 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Internet Service Costs |
225.295 |
169.812 |
94.150 |
|
|
|
Purchase of Trading Goods and Materials |
7.048 |
4.356 |
19.436 |
|
|
|
Personnel Expenses |
229.273 |
178.568 |
101.598 |
|
|
|
Operating and Other Expenses |
180.100 |
139.933 |
80.695 |
|
|
|
TOTAL (B) |
641.716 |
492.669 |
295.879 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
135.854 |
105.483 |
130.041 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.455 |
0.869 |
0.137 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
131.399 |
104.614 |
129.904 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
129.208 |
83.329 |
37.433 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2.191 |
21.285 |
92.471 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
1.995 |
5.079 |
10.820 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
0.196 |
16.206 |
81.651 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
153.941 |
137.735 |
56.084 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Preference Dividend |
0.001 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
154.136 |
153.941 |
137.735 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Bandwidth Services |
18.490 |
11.973 |
9.713 |
|
|
|
Collocation Services |
11.594 |
10.067 |
7.221 |
|
|
|
Mail and Messaging Services |
0.881 |
0.089 |
0.361 |
|
|
|
Managed Services |
15.700 |
1.744 |
2.997 |
|
|
|
Material / Equipment Sales |
1.683 |
0.002 |
1.666 |
|
|
TOTAL EARNINGS |
48.348 |
23.875 |
21.958 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
3.709 |
55.962 |
15.745 |
|
|
TOTAL IMPORTS |
3.709 |
55.962 |
15.745 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.01 |
1.19 |
5.99 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.02
|
2.71 |
19.17 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
27.73
|
392.21 |
406.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.20
|
2.82 |
19.12 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
0.02 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.28
|
0.19 |
0.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.83
|
2.46 |
3.28 |
LOCAL AGENCY FURTHER INFORMATION
Note : Registered Office
of the company has been shifted from 22, Nirlon Campus Western Express Highway,
Goregaon (East), Mumbai – 400 063, Maharashtra, India to the present address
w.e.f. 26.10.2009
FORM 8
|
Corporate
identity number of the company |
U73900MH1998PTC116053 |
|
Name of the
company |
NETMAGIC
SOLUTIONS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
2nd Floor (North Side), Block B 2, Phase I, Nirlon
Knowledge Park, Goregaon (East), Mumbai-400063, Maharashtra, India |
|
This form is for |
Modification of charge |
|
Type of charge |
Book debts Movable property (not being pledge) Others |
|
Particular of
charge holder |
Axis Bank Limited, Credit Management Centre, Unit-6, corporate Park, Sion
Trombay Road, Chembur, Mumbai-400071, Maharashtra, India |
|
Nature of
instrument creating charge |
Supplemental
Deed of Hypothecation (SDH) dated 15.12.2010 |
|
Date of
instrument Creating the charge |
15.12.2010 |
|
Amount secured by
the charge |
Rs. 260.500 millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest As
per Sanction Letter or as stipulated by Bank from time to time. Terms of
repayment As
per Sanction Letter or as stipulated by Bank from time to time. Margin As
per Sanction Letter or as stipulated by Bank from time to time. Extent and
operation of the charge Cash
Credit of Rs.50.000 millions enhanced to Rs. 70.000 millions thereby enhancing
the total amount secured by charge from Rs.240.500 millions to Rs.260.500
millions. To secure various limits specified in SDH. The security by
hypothecation of Plant, machinery, furniture, fixtures, except vehicles
current assets, including RM, SIP, FG, Book Debts, outstanding money
receivables etc, given earlier, des. in Schedule to SDH shall extend to
secure the modified/ enhanced limits. Other CC,
BG and LC limits secured by exclusive first charge on present and future
current assets and extension of first charge on present and future fixed
assets except vehicles. TL
limits secured by exclusive first charge on present and future entire fixed
assets except vehicles and extension of first charge on present and future
current assets. |
|
Short particulars
of the property charged (Including location of the property) |
Present
and future Movable fixed assets including plant machinery, furniture,
fixtures, fittings, computers etc except vehicles situated at company's
premises or elsewhere or in transit. Present
and future current assets consisting of RM, SIP, FG and other Current Assets
whatsoever situated or in transit, Book Debts, O/s monies, receivables claims
bills etc. due and owing to the Company |
|
Charge identification
number of the charge to be modified |
10088972 |
|
Date of
instrument modifying the charge |
16.09.2010 |
|
Particulars of
the present modification |
Now
vide this modification, Cash Credit of Rs.50.000 millions enhanced to Rs.
70.000 millions thereby enhancing the total amount secured by charge from
Rs.240.500 millions to Rs.260.500 millions. to secure various limits
specified in SDH. The security by hypothecation of Plant, machinery,
furniture, fixtures, except vehicles current assets, including RM, SIP, FG,
Book Debts, outstanding money receivables etc., given earlier, des. in
Schedule to SDH shall extend to secure the modified/ enhanced limits. |
FIXED ASSETS
·
Leasehold Improvements
·
Computers
·
Networking Equipments
·
Data Centre Equipments
·
Furniture, Fixtures and
Office Equipments
·
Vehicles
·
Computer Software
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ease deployment of applications on the cloud
Mumbai, May 17, 2011
Netmagic Solutions, leader in the Indian Cloud Infrastructure ( IaaS-Infrastructure as a Service ) segment today announced partnership with globally recognized and leading PaaS (Platform-as-a-service) provider, OrangeScape. This partnership enables Netmagic to be the first player to offer cloud computing in India that includes both the cloud infrastructure and cloud application platform.
Through this alliance, OrangeScape will provide
technology platforms for customers in India and globally to build, deploy and
scale sophisticated business applications on Netmagic’s next generation cloud
infrastructure. Customers facing challenges in hosting critical applications
outside India both from a data security and regulatory perspective can now
avail of the OrangeScape and Netmagic solution stack to host their applications
within the Indian jurisdiction limits.
Sharad Sanghi, CEO and Founder,
Netmagic Solutions said, “At Netmagic, it is our constant
endeavor to build a strong cloud ecosystem that enables customers to drive
efficiency and respond faster to market dynamics. We are witnessing increased
demand from our customers for a state-of-the-art technology platform to migrate
existing applications and build newer ones on cloud with ease and reduce
complexity drastically. The partnership with OrangeScape enables us to provide
a simple, robust and scalable cloud application development platform to our
customers.”
Suresh Sambandan, CEO and Founder,
OrangeScape said, “OrangeScape has been focused on
driving business innovation through simplification of the enterprise
application development through its Visual PaaS platform. This partnership with
Netmagic reaffirms our commitment to the “Cross Cloud” support, leading to
greater flexibility and choice for our customers. We are delighted to have
Orange Scape PaaS on top of Netmagic’s next generation cloud
infrastructure."
About Netmagic Solutions
Netmagic Solutions is India's leading Managed IT
Hosting Services Provider, specializing in Internet Data Center and Managed
Hosting, Infrastructure Management, Managed Security, Cloud Computing,
Application Hosting, Messaging and Collaboration and Disaster Recovery and
Availability Services.
Netmagic Solutions is ISO 27001 and ISO 9001:2008 certified and its
processes are designed as per the ITIL framework. Combining world class
Internet Data Centers with advanced technology and professional service
capabilities, Netmagic Solutions supports mission critical hosted applications
for over 1000 enterprises across the globe.
Netmagic's Chennai Datacenter is the only Gold LEED certified datacenter in
India by the USGBC in India. Netmagic has 7 carrier neutral Tier III +
datacenters located in Mumbai, Bengaluru, Noida (Delhi) and Chennai as well as
a virtual data center in the United States with over 2,00,000 sq. ft. floor
space. These are equipped with best-in-class infrastructure, services, tools
and skilled personnel, giving its customers the option to host their
applications in any of these centers. Netmagic is recipient of Frost and
Sullivan’s Data Center Service Provider of the Year award for 2010.
About OrangeScape
Orange Scape, based in Chennai, India, is a rare
breed of technology Platform Company founded in 2003 with a vision of
simplifying business application development. Orange Scape provides a Visual
Platform-as-a-Service (PaaS) to build domain rich solutions, in the easiest and
the fastest manner and can be deployed on any cloud. Orange Scape uses a
modeling driven visual development environment for creating business
applications and can be deployed as SaaS or with on-premise applications.
Orange Scape has a marquee customer list comprised of Unilever, Citibank,
Pfizer, Astra Zeneca, Sterlite and 50 other large enterprises. Orange Scape is
in the Gartner’s Global Top 10 list of PaaS competitive landscape and also has
been featured in all the PaaS reports of Forrester.
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 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--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.