MIRA
INFORM REPORT
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Report Date : |
30.06.2011 |
IDENTIFICATION DETAILS
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Name : |
TECHNOVA IMAGING SYSTEMS PRIVATE LIMITED (w.e.f. 12.04.1993) |
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Formerly Known
As : |
TECHNOVA PLATE MAKING SYSTEMS LIMITED |
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Registered
Office : |
Laxmi Mills Estate, Sakti Mills, Off. |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
29.08.1979 |
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Com. Reg. No.: |
11-21599 |
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Capital
Investment/ Paid-up Capital: |
Rs.119.637
millions |
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CIN No.: [Company Identification
No.] |
U74999MH1979PTC021599 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMT10262A / MUMT01213C |
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PAN No.: [Permanent Account No.] |
AAACT2165J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Imaging Products. |
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No. of
Employees: |
Approximately
1000 |
RATING & COMMENTS
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MIRA’s Rating : |
B (31) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 770000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be under pressure. However, trade relations are
reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution.
Profit and Loss of the company is not available. |
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
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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 |
INFORMATION PARTED BY (GENERAL DETAILS)
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Name : |
Mr. Shridhar |
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Designation : |
Chief Sales Officer |
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Contact No.: |
91-22-27412463 |
LOCATIONS
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Registered/
Corporate Office : |
Laxmi Mills Estate, Sakti Mills, Off. |
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Tel. No.: |
91-22-42200300/
27412463 |
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Mobile No.: |
91-9920066262 (Mr.
Ajay J. Hathi) |
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Fax No.: |
91-22-24950322/
27410261 |
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Email: |
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Website: |
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Location: |
Owned |
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Factory 1 : |
Plot No. E 1/2/3, M.I.D.C. Taloja, Distrct
Raigad - 410 208, |
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Tel. No.: |
91-22 2741 2463, 2464 |
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Fax No.: |
91-22 2741 0261 |
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Factory 2 : |
Plot No. C2, M.I.D.C., Taloja, District
Raigad - 410 208, |
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Tel. No.: |
91-22-27401948, 27411021 |
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Fax No.: |
91-22-27410861 |
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Factory 3 : |
Plot No. T4, M.I.D.C., Taloja, District
Raigad - 410 208, |
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Tel. No.: |
91-22-27415000 |
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Fax No.: |
91-22-27412250 |
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Factory : |
17/17, Unit – 2, MIDC
Taloja, Navi Mumbai – 410 208, |
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Tel. No.: |
91-22-27410426 |
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Fax No.: |
91-22-27410861 |
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Overseas
Offices : |
Located at: |
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Regional
Offices : |
Located at:
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DIRECTORS
As on 29.09.2010
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Name : |
Mr. Pranav
Natvarlal Parikh |
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Designation : |
Chairman and
Managing Director |
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Address : |
18 A, Manek, L.
D. Ruparel Marg, Mumbai – 400 006, |
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Date of Birth/Age : |
18.02.1943 |
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Qualification : |
B.Com., MBA Havard |
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Date of Appointment : |
29.08.1979 |
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Previous
Employment: |
Printwell |
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Name : |
Mr. Arvind
Natvarlal Parikh |
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Designation : |
Director |
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Address : |
8, Palmera, L. D.
Ruparel Marg, Mumbai – 400 006, |
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Date of Birth/Age : |
19.10.1927 |
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Date of Appointment : |
29.08.1979 |
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Name : |
Mr. Mangesh
Shripad Kulkarni |
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Designation : |
Director |
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Address : |
201, Moti Mahal,
28 Senapari Bapat Marg, Mahim, Mumbai, Maharashtra |
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Date of Birth/Age : |
05.06.1942 |
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Date of Appointment : |
18.04.2001 |
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Name : |
Mr. Jagdish
Natvarlal Parikh |
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Designation : |
Director |
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Address : |
6B, Brighton, |
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Date of Birth/Age : |
07.02.1930 |
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Date of Appointment : |
29.08.1979 |
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Name : |
Mr. Jivanlal
Gulabrai Bhatt |
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Designation : |
Whole Time
Director |
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Address : |
556/ A,
Shriketan, |
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Date of Birth/Age : |
23.10.1952 |
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Qualification : |
M.Sc. ( |
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Date of Appointment : |
01.01.1989 |
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Name : |
Mrs. Snehal
Arvind Parikh |
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Designation : |
Director |
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Address : |
5, |
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Date of Birth/Age : |
01.02.1955 |
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Date of Appointment : |
26.12.1988 |
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Name : |
Mrs. Maya Pranav
Parikh |
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Designation : |
Whole
Time-Director |
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Address : |
18 A, Manek, L D
Ruparel Marg, Malabar Hill Mumbai – 400006, Maharashtra, India |
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Date of Birth/Age : |
27.01.1978 |
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Date of Appointment : |
14.12.2001 |
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Name : |
Ms. Shelina P.
Parikh |
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Designation : |
Whole Time
Director |
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Address : |
18 A, Manek, L.
D. Ruparel Marg, Mumbai – 400 006, |
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Date of Birth/Age : |
25.07.1968 |
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Date of Appointment : |
08.07.1994 |
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Name : |
Gayathri
Ramkrishnan |
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Designation : |
Director |
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Address : |
10/ 75,
Government Housing Colony, Unnat Nagar II, Off |
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Date of Birth/Age : |
01.03.1963 |
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Date of Appointment : |
14.03.2007 |
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Name : |
Mr. Ashok
Basantlal Ghia |
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Designation : |
Director |
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Address : |
B-15, Devi
Chambers, 23-5, |
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Date of Birth/Age : |
20.03.1940 |
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Date of Appointment : |
26.12.1988 |
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Date of Cessation : |
01.04.2010 |
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DIN No.: |
00387835 |
KEY EXECUTIVES
|
Name : |
Mr. Shridhar |
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Designation : |
Chief Sales Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2010
|
Names of Shareholders (Equity Shares) |
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No. of Shares |
|
Arvind N. Parikh |
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124000 |
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Arvind N. Parikh
(HUF) |
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3600 |
|
Anuradha D.
Benegal |
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105500 |
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Jagdish N. Parikh
(HUF) |
|
600 |
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Kishor A. Parikh |
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3600 |
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Maya |
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100200 |
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Natvarlal G.
Parikh (HUF) |
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4500 |
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Poorvi A. Parikh |
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3600 |
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Pranav N. Parikh |
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850925 |
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Pranav N. Parikh
(HUF) |
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408600 |
|
Salome P. Parikh |
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71400 |
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Savita Parikh |
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3600 |
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Shelina Parikh |
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109800 |
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Snehal Parikh |
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64800 |
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Sophie Hyams |
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1800 |
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Jivan G. Bhatt |
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1075 |
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Prashant J. Parikh
(Trustee of Pan Family Trust) |
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41300 |
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Prashant J.
Parikh |
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64800 |
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Total |
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1963700 |
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Names of Shareholders (Preference Shares) |
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No. of Shares |
|
Pranav N. Parikh |
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1000000 |
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Total |
|
1000000 |
Equity Share Breakup (Percentage
of Total Equity)
As on 30.09.2010
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Category |
Percentage |
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Directors or relative of directors |
99.91 |
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Other top fifty (50) shareholders |
0.09 |
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Total |
100.00
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BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Imaging Products. |
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Products : |
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GENERAL INFORMATION
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Customers : |
Wholesalers, Retailers,
End Users and OEM’s |
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No. of Employees : |
Approximately
1000 |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
N.A. Shah and
Associates Chartered
Accountants |
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Address : |
B 41-45, Paragon Centre, Pandurang Budhkar Marg, Worli, Mumbai-400013,
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
|
1980000 |
Equity Shares |
Rs.10/- each |
Rs.19.800
millions |
|
1000000 |
Preferences
Shares |
Rs.100 /- each |
Rs.100.000
millions |
|
20000 |
Unclassified
Shares |
Rs.10/- each |
Rs.0.200 million |
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Total |
|
Rs.120.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1963700 |
Equity Shares |
Rs.10/- each |
Rs.19.637
millions |
|
1000000 |
Preferences
Shares |
Rs.100 /- each |
Rs.100.000
millions |
|
|
Total |
|
Rs.119.637 millions |
Notes :
Of the Above:
a) 4,660 (previous period4 ,660)Equity shares of Rs.10/.each, were
allotted to erstwhile shareholders of TechNova Graphic Systems Private Limited
and lmage Print makers Private Limited on amalgamation in the year 1990-91
b) 21, 500(previous period 2 1,500) Equity hares of Rs.10 each, were allotted to erstwhile shareholders
of TechNova Investment and Leasing Private Limited amalgamation in the year
2003-04
c) 6,300( previous period 6,300) Equity shares of Rs.10/-each, were
allotted to erstwhile shareholders of Sola Optical (
d) 1 875,140(previous period 1,875,140 Equity shares of Rs.10/each were allotted as fully paid-up bonus shares
by capitalization of General reserve.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 (15 Months) |
31.12.2008 (9 Months) |
31.03.2008 (12 Months) |
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SHAREHOLDERS FUNDS |
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|
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1] Share Capital |
119.637 |
19.637 |
19.637 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
73.065 |
87.567 |
493.006 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
192.702 |
107.204 |
512.643 |
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LOAN FUNDS |
|
|
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|
1] Secured Loans |
2943.993 |
3021.906 |
2683.150 |
|
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2] Unsecured Loans |
832.310 |
929.870 |
549.663 |
|
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TOTAL BORROWING |
3776.303 |
3951.776 |
3232.813 |
|
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
118.691 |
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|
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TOTAL |
3969.005 |
4058.980 |
3864.147 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2201.801 |
2417.090 |
2380.266 |
|
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Capital work-in-progress |
4.824 |
20.555 |
62.688 |
|
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INVESTMENT |
75.230 |
75.125 |
81.319 |
|
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DEFERREX TAX ASSETS |
67.968 |
0.000 |
0.000 |
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
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Inventories |
1525.366
|
1283.330 |
1080.687 |
|
|
Sundry Debtors |
765.270
|
565.387 |
426.306 |
|
|
Cash & Bank Balances |
167.651
|
130.810 |
124.298 |
|
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Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
549.691
|
581.710 |
527.878 |
|
Total
Current Assets |
3007.978
|
2561.237 |
2159.169 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
976.737
|
724.710 |
598.885 |
|
|
Other Current Liabilities |
275.618
|
203.885 |
145.225 |
|
|
Provisions |
136.441
|
86.432 |
75.185 |
|
Total
Current Liabilities |
1388.796
|
1015.027 |
819.295 |
|
|
Net Current Assets |
1619.182
|
1546.210 |
1339.874 |
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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|
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|
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|
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TOTAL |
3969.005 |
4058.980 |
3864.147 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 (15 Months) |
31.12.2008 (9 Months) |
31.03.2008 (12 Months) |
|
Debt Equity Ratio (Total Liability/Networth) |
|
26.80 |
46.33 |
7.90 |
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|
|
Current Ratio (Current Asset/Current Liability) |
|
2.17 |
2.52 |
2.64 |
LOCAL AGENCY FURTHER INFORMATION
History:
Subject was
incorporated on at Mumbai in
In an
Extra-Ordinary General meeting of the members held on 16th April,
1991, the scheme of Amalgamation of Technova Graphic Systems Private Limited
and Image Printmakers Private Limited with the company was approved.
Name of the company
was changed to Technova Imaging Systems Limited on 12th April, 1993
and Registered on 14th September, 1993.
Subject has become
a Private Company with effect from 28th February 2001.
FINANCIAL HIGHLIGHTS
The company has faced tremendous challenges on account of very high volatility in the
commodity market and foreign exchange market leading to exceptional losses as
indicated in the Profit and Loss Account. Subject to this exceptional item, the
operation efficiency is considered satisfactory during the year.
In view of the above exceptional items, the company had availed the
stimulus package which has been approved by the lead bankers. Further, it has
been decided to close the accounts for the period of 15 months i.e. from
January 2009 to March 2010 and thereafter to continue the fiscal year as the
financial year of the company.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U74999MH1979PTC021599 |
|
Name of the company
|
TECHNOVA IMAGING
SYSTEMS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Laxmi Mills
Estate, Sakti Mills L, Off. |
|
This form is for |
Modification of
Charge |
|
Charge
identification number of the charge to be modified |
90213299 |
|
Type of charge |
Book Debts Movable Property Floating Charge |
|
Particular of
charge holder |
Corporation Bank,
Industrial Finance Branch, Bharat House No. 104, Ground Floor, Mumbai
Samachar Marg, Fort, Mumbai-400023, Maharashtra, India |
|
Nature of
instrument creating charge |
a) Joint Supplemental Deed of Hypothecation b) Joint Supplemental Working Capital Consortium
Agreement and c) Supplemental Inter Se Agreement (Collectively
constitute a single charge for Rs. 4336.200 Millions) |
|
Date of
instrument Creating the charge |
24.03.2011 |
|
Amount secured by
the charge |
Rs. 4336.200
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As may be
stipulated by the bank from time to time Terms of
Repayment A) Working capital facilities to be repayable
on demand and B) Term Loans granted by corporation bank,
Saraswat Co-Operative bank limited and Indian Bank shall be repayable in
accordance with the terms and conditions stipulated in respective sanction
letters of and/ or as stated in the relevant security documents as amended from time to time Margin As may be
stipulated by the bank from time to time Extent and
Operation of the charge Hypothecation of
Current Assets on pari passu first charge basis and hypothecation of Movable
Fixed Assets by Second charge on secure
working capital facilities of Corporation Bank Consortium. Hypothecation of
Movable Fixed Assets by first pari passu charge basis and hypothecation of
current assets by second pari passu charge basis to secure the term loan
facilities granted/ to be granted by Corporation Bank, Saraswat Co-Operative
Bank Limited and Indian Bank. Others a) The charge
created herein by the Company shall be on pari passu inter se the members of
Corporation Bank Consortium to secure the working capital facilities for all
purpose and to all intents without any
priority of one over the other or others and b) The charge created herein by
the company shall be on pari passu inter se corporation Bank, Saraswat Bank
and Indian Bank for their Term Loans
for all purposes and to all intents without any priority of one over the
others. |
|
Short particulars
of the property charged |
Hypothecation of
current assets on pari passu first charge basis to secure Working Capital
Facilities of Corporation Bank Consortium Hypothecation of
Movable Fixed Assets by way of pari
passu second charge basis to secure Working Capital Facilities of Corporation
Bank Consortium Hypothecation of
Movable Fixed Assets on first pari passu charge basis to secure Term Loan
Facilities granted / to granted by Corporation Bank, Saraswat Co-Operative
Bank and India Bank Hypothecation of
current assets on second pari passu charge
basis to secure Term Loan faculties granted /to granted by Corporation
Bank, Saraswat Co-Operative Bank and India Bank |
|
Date of instrument
modifying the charge |
03.03.2010 |
|
Particulars of
the present modification |
The consortium
charge shall now stands increased / modified/ revised from Rs. 3859.900
Millions to Rs. 4336.200 Millions (Comprising WC limits of Rs. 2550.000 Millions
and TLs of Rs. 1786.200 Millions) in favour of the members of corporation
bank consortium and Term Lenders. |
|
Corporate
identity number of the company |
U74999MH1979PTC021599 |
|
Name of the
company |
TECHNOVA IMAGING
SYSTEMS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Laxmi Mills
Estate, Sakti Mills L, Off. |
|
This form is for |
Modification of
Charge |
|
Charge
identification (ID) number of the charge to be modified |
90213299 |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Corporation Bank, Industrial Finance Branch, Bharat House No.104, Ground Floor, Mumbai Samachar Marg, Fort, Mumbai – 400 023, Maharashtra, India E-Mail: vlaxman@vsnl.com |
|
Nature of
instrument creating charge |
Memorandum of
entry |
|
Date of instrument
Creating the charge |
03.03.2010 |
|
Amount secured by
the charge |
Rs.3859.900
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As may be
stipulated by the bank from time to time. Terms of
Repayment a) Working
capital facilities to be repayable on demand; and b) Term Loans to
be repayable in accordance with the terms and conditions stipulated in
respective sanction letters of Corporation Bank, Saraswat Cooperative Bank
Limited and Indian Bank and/or as stated in the relevant security documents
as amended from time to time. Margin As may be
stipulated by the Bank from time to time. Extent and
Operation of the charge The Company
accorded its consent to Corporation Bank and Corporation Bank acting for
itself and as agent of Saraswat Co. Op. Bank and Indian Bank to continue to
hold and retain the title deeds (by way of constructive delivery) and further
deposited certain supplemental title deeds in respect of its immovable
properties as mentioned under item no. 14 as security , by the Borrower to Corporation Bank
Consortium. Others a) The charge
created herein by the Company shall be on pari passu inter se the members of
Corporation Bank Consortium to secure the working capital facilities for all
purposes and to all intents without
any priority of one over the other or others; and (b) The charge
created herein by the Company shall be on pari passu inter se Corporation
Bank, Saraswat Bank and Indian Bank for their Term Loans for all purposes and
to all intents without any priority of one over the others. |
|
Short particulars
of the property charged |
Company's
immovable properties lying and situated at Plot No. E-2/2, E-2/1, E-1, E-3,
C-2, 17/1 and T-4 in Taloja Industrial Area, with in the limits of |
|
Date of
instrument modifying the charge |
30.12.2008 |
|
Particulars of
the present modification |
The Consortium
shall now stands increased/modified/revised up to Rs. 3859.900 millions in
favour of the Corporation Bank consortium (for their Term Loans facilities of
Rs. 1849.900 millions and Working capital facilities of Rs. 2010.000
millions) against security of Company's immovable properties being lying and
situated in Taloja Industrial Area of MIDC. |
Fixed Assets:
·
·
·
·
Plant and Machinery
·
Electrical Installation
·
Furniture and Fixtures
·
Office Equipments
·
Air – Conditioning
Equipments
·
Computers
·
Vehicles
WEBSITE DETAILS:-
Profile
Subject is manufacturers of imaging products. It is the only company in the world manufacturing the full range of digital offset plates: violet, thermal, UV, inkjet and laser-printer.
Total imaging solution offerings from TechNova include Offset and Flexo CtP
Systems; and a full range of consumables, such as offset printing plates;
laser, inkjet & graphic art films; chemicals; offset inks; offset blankets,
flexo plates and related products; inkjet, laser and drafting media. TechNova’s
network serves various industries such as printing and publishing, packaging,
textiles, engineering, signage, advertising, geology, photography, business graphics
and medical diagnostics.
TechNova is an ISO 9001:2000 company. TechNova received the prestigious
"GATF InterTech Technology Award" in 1995; the Davos-based World
Economic Forum’s "Top Performing Global Growth Company" Award in 1997
and World Economic Forum’s "Technology Pioneer Award" in 2000.
Technova
Achievements:
Since inception in 1971, TechNova has introduced several new
technologies and is globally recognised as a pioneer and leader in the field of
desktop computer-to-plate system for the Quick Print Industry.
TechNova's "NovaDom" desktop Computer-to-Plate-to-Press System for
the Quick Print Industry was accorded the highest international honour : the
GATF 1995 InterTech Technology Award,
In 1997 TechNova was recognised by the Davos-based World
Economic Forum as a top performing Company which meets with the criteria of the
Global Growth Company Award.
In January 2000 TechNova was honoured as Technology Pioneer by the same
organisation i.e. Davos-based World Economic Forum.
NEWS:
TechNova offers
Signage Printers a complete range of Self-adhesive Vinyls
TechNova, one of the world’s leading Imaging Solutions providers, now offers
customers a complete range of Self-adhesive Vinyls (SAVs) for outdoor
applications, under its popular brand name for Wide Format media, NovaSign.
The NovaSign media range for Wide Format is not only
suitable for traditional printing technologies such as water-based inkjet,
solvent, eco-solvent and screen-printing, but is also suitable for newer
technologies like UV and Latex.
Premium range :
The Premium range of NovaSign Self-adhesive Vinyls include a full basket of
vinyls, that are universally compatible with all printing technologies,
including Solvent, Eco-solvent, UV & Latex.
In addition to the already popular NovaSign PosterMatte PVC Film 100SA (WPT
1574) and NovaSign PosterSatin PVC Film 100SA (WPT 1374), TechNova has recently
introduced two new products to the premium range of SAVs. These include :
- NovaSign
Poster Matte PVC 100 SA PR (WPP 1574)
- NovaSign
Poster Gloss PVC 100 SA PR (WPP 1374)
TechNova’s Self-adhesive Vinyl with PP-coated paper liner ensures absolute
flatness while printing and also helps in overcoming all moisture related
issues normally experienced with other paper liner SAV’s. The 100 microns base
PVC also ensures trouble-free mounting, with excellent adhesion.
The new media is also available in Grey-back format, ideal for pasting new
prints over existing prints, as the grey adhesive ensures that there is no
see-through of the original image through the new prints.
Superior range :
TechNova also offers a versatile product - NovaSign PosterSatin PVC 80 SA (WPS
3223) - for regular print jobs. Backed by TechNova’s guarantee and available in
an attractive packaging with liner back-printed, this media is available at an
affordable price to suit most applications.
Economy range
When budget constraints are maximum, and yet customers expect a basic standard
of quality, TechNova offers PosterGloss PVC 80 SA (WPG 6284). This a quick and
simple Self-adhesive vinyl media is the right choice for routine cost-effective
print applications.
Unique Indian manufacturer:
In a market where signage media is largely traded from
"Today, TechNova offers a full range of Self-adhesive Vinyls to suit every
customer need, and to match every pocket. TechNova media is manufactured
locally in our state-of-the-art manufacturing and coating plant and distributed
by probably the widest channel network across the country", says Shankar
Raman, General Manager, Sales, TechNova.
Top Reasons for using TechNova
Self-Adhesive Vinyls :
Off-the-shelf access to high-quality media
Backed by 24x7 total technical support
Value-added Services like Colour Management Assistance, Logistics,
Marketing Support and training
|
|
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.44.94 |
|
|
1 |
Rs.71.91 |
|
Euro |
1 |
Rs.64.60 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
31 |
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.