MIRA
INFORM REPORT
|
Report Date : |
29.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
ZENSTAR JEWELLERY PRIVATE LIMITED (w.e.f. 07.08.2008) |
|
|
|
|
Formerly Known
As : |
JEWELEX CREATIONS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit No. 70 and 71, SDF – III, Seepz-Sez, Andheri (East), Mumbai
400096, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation
: |
20.11.2000 |
|
|
|
|
Com. Reg. No.: |
129663 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1.000 million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36911MH2000PTC129663 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMJ06971G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACJ9097P |
|
|
|
|
Legal Form : |
Private Limited Liability Company
|
|
|
|
|
Line of Business
: |
Manufacturer of Diamond Studded Gold Jewellery |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
Dissolved |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
As claimed by Ms. Nidhi Chaphe, Accounts Manager, the subject company has
dissolve its business and converted into Limited Liability Partnership (LLP)
from 16 November, 2010. Now, the company is known as Zenstar Jewellery LLP.
As per Government records, the LLP was registered on 19 May, 2011. Keeping in view the aforesaid, it would be advisable to enter into
business dealings on a safe and secured trade terms and conditions. The details of Zenstar Jewellery LLP are attached at the end of this
report. |
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 |
INFORMATION PARTED BY
|
Name : |
Ms. Nidhi Chaphe |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-9869079409 |
|
Date : |
26.07.2011 |
LOCATIONS
|
Registered Office : |
Unit No. 70 and 71, SDF – III, Seepz-Sez, Andheri (East), Mumbai
400096, |
|
Tel. No.: |
91-22-22874159 |
|
Fax No.: |
91-22-22048488 |
|
E-Mail : |
DIRECTORS
AS ON 27.09.2010
|
Name : |
Mr. Vaibhav N Karnavat |
|
Designation : |
Director |
|
Date of Birth/Age : |
02.08.1981 |
|
Date of Appointment : |
01.01.2008 |
|
|
|
|
Name : |
Mr. Sahilkumar P Jain |
|
Designation : |
Director |
|
Date of Birth/Age : |
31.07.1980 |
|
Date of Appointment : |
01.01.2008 |
KEY EXECUTIVES
|
Name : |
Ms. Nidhi Chaphe |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.09.2010
|
Names of Shareholders |
No. of Shares |
|
Jewelex India P Limited, Mumbai |
40000 |
|
Pushpa N Karnavat |
15000 |
|
|
45000 |
|
Total |
100000 |
AS ON 27.09.2010
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Bodies corporate |
|
40.00 |
|
Directors or relatives of directors |
|
15.00 |
|
Other top fifty shareholders |
|
45.00 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Diamond Studded Gold Jewellery |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||
|
|
|
|||||||||
|
Bankers : |
Union Bank of |
|||||||||
|
|
|
|||||||||
|
Facilities : |
Rs. In Millions
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M M Nissim and Company Chartered Accountant |
|
Address : |
Barodawala Mansion, B Wing, 3rd Floor, 81, Dr. Annie Besant
Road, Worli, Mumbai 400018, Maharashtra, India |
|
Tel. No.: |
91-22-24949991 |
|
Fax No.: |
91-22-24949995 |
|
|
|
|
Associates/Subsidiaries : |
·
Jewelex International Private Limited ·
Jewelex India Private Limited |
CAPITAL STRUCTURE
AS ON 27.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs. 10 each |
Rs.1.000 million |
|
150000 |
Preference Shares |
Rs. 10 each |
Rs. 1.500 millions |
|
250000 |
Unclassified Shares |
Rs. 10 each |
Rs. 2.500 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs. 10 each |
Rs. 1.000 million |
|
|
|
|
|
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 |
1.000 |
1.000 |
1.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(6.594) |
(0.925) |
(0.082) |
|
|
NETWORTH |
(5.594) |
0.075 |
0.918 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
45.037 |
89.000 |
86.870 |
|
|
TOTAL BORROWING |
45.037 |
89.000 |
86.870 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
39.443 |
89.075 |
87.788 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.000 |
86.818 |
0.000 |
|
|
Capital work-in-progress |
38.043 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000 |
0.000 |
0.000 |
|
|
Sundry Debtors |
0.000 |
0.000 |
0.000 |
|
|
Cash & Bank Balances |
0.461
|
0.504 |
1.005 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
1.579
|
3.872 |
88.385 |
|
Total
Current Assets |
2.040
|
4.376 |
89.390 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.640
|
2.119 |
1.602 |
|
|
Other Current Liabilities |
0.000 |
0.000 |
0.000 |
|
|
Provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities |
0.640
|
2.119 |
1.602 |
|
|
Net Current Assets |
1.400
|
2.257 |
87.788 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
39.443 |
89.075 |
87.788 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
0.070 |
0.001 |
0.012 |
|
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
|
TOTAL |
0.070 |
0.001 |
0.012 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Professional Fees |
0.020 |
0.000 |
0.011 |
|
|
|
Registration and Filing Fees |
0.000 |
0.000 |
0.006 |
|
|
|
Expenditure for increase in capital |
0.000 |
0.000 |
0.105 |
|
|
|
Administrative Expenses |
0.003 |
0.017 |
0.014 |
|
|
|
Auditors Remuneration |
0.033 |
0.019 |
0.020 |
|
|
|
TOTAL |
0.056 |
0.036 |
0.156 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
0.014 |
(0.035) |
(0.144) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
NA |
0.001 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
0.014 |
(0.036) |
(0.144) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
EXTRA ORDINARY
ITEMS |
5.682 |
0.807 |
NA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
(5.668) |
(0.843) |
(0.144) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
(5.668) |
(0.843) |
(0.144) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(56.69) |
(8.43) |
(14.07) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
(8097.14)
|
(84300.00) |
(1200.00) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(8097.14)
|
(84300.00) |
(1200.00) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(277.84)
|
(0.92) |
(0.16) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
1.01
|
(11.24) |
(0.15) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
(8.16)
|
1214.92 |
96.37 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.18
|
2.06 |
55.79 |
LOCAL AGENCY FURTHER INFORMATION
Note: Registered
office of the company has been shifted from 2A, Kitab Mahal, First Floor, 192,
OPERATIONS:
The Company has not done any business during the year under
review and because of writing off of Jewellery Project expenses written off has
to incur losses of Rs. 5.669 million as against net loss of Rs. 0.843 million
in previous year.
The losses were mostly on account of Jewellery Project expenses written
off and administrative expenses.
FORM 8
|
Corporate
identity number of the company |
U36911MH2000PTC129663 |
|
Name of the
company |
ZENSTAR JEWELLERY PRIVATE LIMITED (w.e.f. 07.08.2008) |
|
Address of the
registered office or of the principal place of business in |
Unit No. 70 and 71, SDF – III, Seepz-Sez, Andheri (East), Mumbai
400096, |
|
This form is for |
Creation of
charge |
|
Type of charge |
Movable property
(not being pledge) |
|
Particular of
charge holder |
Union Bank of |
|
Nature of
instrument creating charge |
Term Loan Agreement (Hypothecation of Movables) |
|
Date of
instrument Creating the charge |
26.11.2010 |
|
Amount secured by
the charge |
Rs. 16.700
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest 12.75% per annum
with monthly rests or at such other revised rates/s as may be prescribed by
the Bank from time to time Terms of repayment Term Loan of
Rs16.700 millions shall be repayable in 48 monthly installments of Rs.0.347
million commencing from 6 months from the date of first disbursement. Margin As per sanction
terms. Extent and operation of the charge To secure Term
Loan/FCTL facility of Rs.16.700 millions granted by the Bank to the Company. |
|
Short particulars
of the property charged (Including location of the property) |
The Borrower
hereby Hypothecates and charges to the Bank by way of First Charge: 1.All those
Machinery/Plant/Vehicle/Capital Goods/Assets purchased or to be purchased by
the Borrower out of this loan viz. Plant and Machinery (as per list attached with agreement )
present and future whether installed
or not and whether now lying loose or in cases and now being or at any time
hereafter during the continuance of this Agreement brought into or upon or at
any time in course of transit to the premises/factory of the Borrower at
Seepz, Mumbai whatsoever and wherever
in the possession or occupation of the Borrower. 2.All the
tangible movable machinery and plant of the Borrower together with
spares,tools and accessories and other movables both present and future
whether lying loose or in cases which are now lying or stored in or about or
shall be brought into or be stored or be in or upon or about the Borrower's
premises and godowns or wherever else the same may be or be held by any party
to the order or disposition of the Borrower relating to or pertaining to the
Borrower's works at Seepz Mumbai |
DETAILS OF ZENSTAR
JEWELLERY LLP
IDENTIFICATION DETAILS
|
Name : |
ZENSTAR JEWELLERY LLP |
|
|
|
|
Registered
Office /Factory : |
Unit No. 70 and 71, SDF – III, Seepz-Sez, Andheri (East), Mumbai
400096, |
|
Tel. No.: |
91-22-42572300 |
|
Fax No.: |
91-22-42572302 |
|
Mobile No.: |
91-9869079409 (Ms. Nidhi) |
|
Email: |
|
|
Location: |
Leased |
|
|
|
|
Date of
Incorporation : |
19.05.2011 |
|
|
|
|
No. of Employees
: |
148 (Approximately) |
|
|
|
|
Partners Name: |
·
Mr. Vaibhav Karnavat ·
Mr. Sahilkumar Jain ·
Mr. Narendra Karnavat ·
Mrs. Pushpa Karnavat ·
Mr. Nilesh Kothari |
|
|
|
|
Legal Form : |
Limited Liability Partnership |
|
|
|
|
Line of Business
: |
Manufacturer of Diamond Studded Gold Jewellery |
|
|
|
|
Exporter : |
|
|
|
|
|
TRADING TERMS : |
|
|
Purchasing: |
Cash, Credit |
|
Selling: |
L/C, Cash, Credit |
|
|
|
|
Type of
Customers: |
·
Wholesaler ·
Retailer |
|
|
|
|
Bank: |
Union Bank of |
|
Facilities: |
Cash Credit Rs. 136.000 millions |
|
|
|
|
AUDITORS : |
|
|
Name : |
M M Nissim and Company Chartered Accountant |
|
Address : |
Barodawala Mansion, B Wing, 3rd Floor, 81, Dr. Annie Besant
Road, Worli, Mumbai 400018, Maharashtra, India |
|
Tel. No.: |
91-22-24949991 |
|
Fax No.: |
91-22-24949995 |
|
|
|
|
Trade Reference:
|
·
Manish Jewellery, ·
Michael Hill Jewellers, |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
30.06.2011 |
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partner Capital |
|
1.000 |
1.000 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
17.106 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
(6.881) |
|
|
NETWORTH |
|
18.106 |
(5.881) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
91.996 |
27.249 |
|
|
2] Unsecured Loans |
|
61.604 |
73.800 |
|
|
TOTAL BORROWING |
|
153.600 |
101.049 |
|
|
DEFERRED TAX LIABILITIES |
|
3.180 |
4.123 |
|
|
|
|
|
|
|
|
TOTAL |
|
174.886 |
99.291 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
48.986 |
51.179 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
95.864 |
79.121 |
|
|
Sundry Debtors |
|
204.436 |
49.649 |
|
|
Cash & Bank Balances |
|
16.126 |
19.426 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
18.984 |
17.657 |
|
Total
Current Assets |
|
335.410 |
165.853 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
|
Other Current Liabilities |
|
209.510 |
117.491 |
|
|
Provisions |
|
|
0.250 |
|
Total
Current Liabilities |
|
209.510 |
117.741 |
|
|
Net Current Assets |
|
125.900 |
48.112 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
174.886 |
99.291 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
30.06.2011 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
|
237.951 |
130.362 |
|
|
|
Exchange Rate Difference (Net) |
|
0.000 |
0.730 |
|
|
|
Other Income |
|
0.026 |
0.402 |
|
|
|
TOTAL |
|
237.977 |
131.494 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material Consumed |
|
199.016 |
152.066 |
|
|
|
Salaries and Allowances |
|
5.720 |
6.834 |
|
|
|
Manufacturing and Other Expenses |
|
5.289 |
5.764 |
|
|
|
Increase / Decrease in Stocks |
|
0.611 |
(45.393) |
|
|
|
TOTAL |
|
210.636 |
119.271 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
27.341 |
12.223 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
1.120 |
0.805 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
26.221 |
11.418 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
2.626 |
7.574 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
|
23.595 |
3.844 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
0.000 |
4.123 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
|
23.595 |
(0.279) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
(6.489) |
(6.602) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
17.106 |
(6.881) |
|
KEY RATIOS
|
PARTICULARS |
|
|
30.06.2011 |
31.03.2011 |
|
PAT / Total Income |
(%) |
|
9.91 |
(0.21) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
9.92 |
2.95 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
6.14 |
1.77 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
1.30 |
(0.65) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
20.05 |
(37.20) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.60 |
1.41 |
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.44.13 |
|
|
1 |
Rs.72.05 |
|
Euro |
1 |
Rs.63.33 |
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.