MIRA
INFORM REPORT
|
Report Date : |
03.03.2011 |
Note:
The Registered office of the company has been
shifted from H Number 8-2-293/82/F-II/15A,
Plot Number 15, Road Number 1, Firm Nagar, Phase II, Hyderabad-500033,
IDENTIFICATION DETAILS
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Name : |
TRIMEX SANDS PRIVATE LIMITED (w.e.f. 11.04.2007) |
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Formerly Known
As : |
EAST WEST MINERAL SANDS PRIVATE LIMITED |
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Registered
Office : |
Trimex Towers No. 1, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
01.04.2004 |
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Com. Reg. No.: |
18-071437 |
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CIN No.: [Company Identification
No.] |
U14299TN2004PTC071437 |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Subject is involved in the business of exploration, extraction and
separation of minerals form beach sands. |
RATING & COMMENTS
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MIRA’s Rating : |
B (27) |
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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 2100000 |
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Status : |
Recently Commenced Business |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Though the company was incorporated in the year 2004, the company has started
its activities in the financial year 2009-10. 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.
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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 |
LOCATIONS
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Registered Office : |
Trimex Towers No. 1, |
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Tel. No.: |
91-44-24988822/ 8813 |
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Fax No.: |
91-44-24986047 |
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E-Mail : |
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Website : |
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Site Office : |
Plot No. 56, Telugu Musalayaa Layout, Adithya Nagar, Arasavilli Road,
Srkakulam-532001, Andhra Pradesh, India |
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Tel. No.: |
91-8942-229328 |
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Fax No.: |
91-8942-229328 |
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E-Mail : |
DIRECTORS
As on 30.09.2010
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Name : |
Mr. Pradeep Koneru |
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Designation : |
Director |
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Address : |
10, |
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Date of Birth/Age : |
21.08.1977 |
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Date of Appointment : |
01.10.2007 |
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DIN No.: |
00058587 |
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Name : |
Mrs. Vimaladevi Koneru |
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Designation : |
Director |
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Address : |
10, |
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Date of Appointment : |
03.10.2006 |
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DIN No.: |
00038008 |
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Name : |
Mr. Thati Venkataswamy Chowdary |
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Designation : |
Director |
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Address : |
B27, Madhura Nagar, Hyderabad-500038, |
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Date of Appointment : |
01.04.2004 |
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DIN No.: |
00010435 |
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Name : |
Mr. Madhu Koneru |
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Designation : |
Additional Director |
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Address : |
Villa-R-46, 394 Emirates Hill, |
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Date of Birth/Age : |
25.02.1974 |
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Date of Appointment : |
05.02.2010 |
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DIN No.: |
021921398 |
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Name : |
Mr. Rajendra Prasad Koneru |
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Designation : |
Additional Director |
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Address : |
10, Crescent Avenue, K.P. Puram, Chennai-600028, |
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Date of Birth/Age : |
12.07.1950 |
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Date of Appointment : |
03.12.2008 |
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DIN No.: |
00038068 |
KEY EXECUTIVES
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Name : |
Mr. Ch. V G K Murty |
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Designation : |
Chief Operating Officer |
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Date of Birth/Age : |
53 Years |
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Qualification : |
M.Sc (Minerals Processing) |
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Experience : |
29 Years |
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Date of Appointment : |
01.05.2008 |
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Previous Employment: |
Chief (RMTG) Titania Business unit at
Tata Steel Limited |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
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No. of Equity Shares |
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Trimex Industries Private Limited No. 1, |
|
1509990 |
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Vimaldevi Koneru 10, |
|
931677 |
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Madhu Koneru 10, |
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931666 |
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Pradeep Koneru 10, |
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931667 |
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Total |
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4305000 |
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Names of Shareholders |
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No. of Preference
Shares |
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Trimex Industries Private Limited, No. 1, |
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33000000 |
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Total |
|
33000000 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2010
|
Category |
Percentage |
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Bodies corporate |
35.08 |
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Directors or relatives of Directors |
64.92 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is involved in the business of exploration, extraction and
separation of minerals form beach sands. |
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Products : |
Separation of Minerals from
Beach Sand |
PRODUCTION STATUS AS ON (31.03.2010)
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Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
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Titanium based minerals |
Metric Tonnnes |
306600 |
185000 |
15116 |
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Non Titanium based minerals |
Metric Tonnnes |
288350 |
114800 |
12530 |
GENERAL INFORMATION
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Bankers : |
State Bank of |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S R Batilboi and Associates Chartered Accountant |
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Address : |
TPL House No. 3, |
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Tel. No.: |
91-44-66328400 |
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Fax No.: |
91-44-24311450 |
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Enterprises where significant influence exists: |
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Holding Company: |
Trimex Industries Private Limited Address: No. 1, |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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10000000 |
Equity Shares |
Rs. 10/- each |
Rs. 100.000 Millions |
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40000000 |
12% Non Cumulative Optionally Convertible Preference Shares |
Rs. 10/- each |
Rs. 400.000 Millions |
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Total |
|
Rs. 500.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
4305000 |
Equity Shares |
Rs. 10/-
each |
Rs. 43.050
Millions |
|
33000000 |
12% Non Cumulative Optionally Convertible Preference Shares |
Rs. 10/-
each |
Rs. 330.000
Millions |
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Total |
|
Rs. 373.050 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
373.050 |
328.050 |
25.000 |
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2] Share Application Money |
0.000 |
8.195 |
407.435 |
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3] Reserves & Surplus |
348.050 |
303.050 |
0.000 |
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4] (Accumulated Losses) |
[199.748] |
[61.170] |
[22.143] |
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NETWORTH |
521.352 |
578.125 |
410.292 |
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LOAN FUNDS |
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1] Secured Loans |
1909.718 |
1490.128 |
50.165 |
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2] Unsecured Loans |
0.000 |
0.000 |
1.002 |
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TOTAL BORROWING |
1909.718 |
1490.128 |
51.167 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
2431.070 |
2068.253 |
461.459 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2277.176 |
38.648 |
32.055 |
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Capital work-in-progress |
23.491 |
2161.719 |
616.068 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
82.689
|
0.000 |
0.000 |
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Sundry Debtors |
38.863
|
0.000 |
0.000 |
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Cash & Bank Balances |
3.898
|
37.592 |
13.521 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
135.546
|
2.845 |
3.393 |
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Total
Current Assets |
260.996
|
40.437 |
16.914 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
114.520
|
169.048 |
192.382 |
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Other Current Liabilities |
13.902
|
1.464 |
10.620 |
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Provisions |
2.171
|
2.039 |
0.576 |
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Total
Current Liabilities |
130.593
|
172.551 |
203.578 |
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Net Current Assets |
130.403
|
[132.114] |
[186.664] |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
2431.070 |
2068.253 |
461.459 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
74.786 |
0.000 |
0.000 |
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Other Income |
0.202 |
0.014 |
0.051 |
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TOTAL (A) |
74.988 |
0.014 |
0.051 |
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Less |
EXPENSES |
|
|
|
|
|
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Personnel Expenses |
18.625 |
5.056 |
6.131 |
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Operating and other Expenses |
125.875 |
31.149 |
7.271 |
|
|
|
Increase in Inventories |
[67.221] |
0.000 |
0.000 |
|
|
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Miscellaneous expenditure written off |
0.000 |
0.000 |
2.662 |
|
|
|
Pre-Operative expenses written off |
0.000 |
0.000 |
4.917 |
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TOTAL (B) |
77.279 |
36.205 |
20.981 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
[2.291] |
[36.191] |
[20.930] |
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Less |
FINANCIAL
EXPENSES (D) |
77.960 |
0.777 |
0.222 |
|
|
|
|
|
|
|
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
[80.251] |
[36.968] |
[21.152] |
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|
|
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
58.326 |
1.320 |
0.745 |
|
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|
|
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PROFIT BEFORE
TAX (E-F) (G) |
[138.577] |
[38.288] |
[21.897] |
|
|
|
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|
|
|
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Less |
TAX (H) |
0.000 |
0.739 |
0.246 |
|
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|
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|
|
|
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|
PROFIT AFTER TAX
(G-H) (I) |
[138.577] |
[39.027] |
[22.143] |
|
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|
|
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|
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|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Sales |
61.693 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
61.693 |
0.000 |
0.000 |
|
|
|
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IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
0.000 |
439.866 |
0.000 |
|
|
TOTAL IMPORTS |
0.000 |
439.866 |
00000 |
|
|
|
|
|
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|
Basic/ Diluted
Earnings Per Share (Rs.) |
[32.19] |
[13.23] |
[21.99] |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
[184.80]
|
[278764.29] |
[43417.65] |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
[185.30]
|
[273485.71] |
[42935.29] |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
[5.46]
|
[48.41] |
[44.72] |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
[0.27]
|
[0.07] |
[0.05] |
|
|
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|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
3.91
|
2.88 |
0.62 |
|
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|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.99
|
0.23 |
0.08 |
LOCAL AGENCY FURTHER INFORMATION
Background:
Subject was incorporate on April 1,
2004 as a Private Limited company under the Companies Act, 1956 (‘the Act’).
The company is involved in the business of exploration, extraction and
separation of minerals form beach sands.
In order to carry out the exploration and extraction activities, the
company has obtained by way of an assignment, a
beach sand mining lease licence for an area of over 7.2 sq.kms in
Srikakulam district in the State of Andhra Pradesh, Which was originally
granted to Trimex Industries Private Limited. The said assignment was approved
by the Government of Andhra Pradesh vide a government order dated January 17,
2007, thereby granting the company the right to commence mining activity in the
specified area.
During the current year, the company has completed the construction of
its mineral separation plant at Srikakulam for separation of ilmenite, rutile,
zircon, garnet and silimanite from beach sands.
Share Capital:
During the year, the company has
allotted 4500000 Optionally Convertible 12% Preference shares of Rs. 10/- each
at a premium of Rs. 10/- each as fully paid for consideration received in cash.
Thus, as of the year end the paid up Equity shares capital stood at Rs. 43.050
Millions divided into 4305000 Equity Shares of Rs. 10/- each only and
Preference Share Capital stood at Rs. 330.000 Millions divided into 33300000
Preference shares of Rs. 10/- each only.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U14299TN2004PTC071437 |
|
Name of the
company |
TRIMEX SANDS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Trimex Towers No. 1, |
|
This form is for |
Modification of
Charge |
|
Charge
identification number of the charge to be modified |
10187847 |
|
Type of charge |
Immovable Property |
|
Particular of
charge holder |
State Bank of |
|
Nature of
instrument creating charge |
EM Confirmation
Letter (2 Nos.) |
|
Date of
instrument Creating the charge |
20.11.2009 |
|
Amount secured by
the charge |
Rs. 400.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest As per the
existing Terms and Conditions Terms of
Repayment As per the
existing Terms and Conditions Margin As per the
existing Terms and Conditions Extent and Operation
of the charge The immovable
properties belonging to the company, more fully described in the Field No. 15
of this eForm shall secure by way of second charge for the credit facilities
to an extent of Rs. 400.000 Millions granted by State Bank of India and the
First Charge being held by the Consortium Banks leas by State Bank of India
to the extent of Rs. 1682.500 Millions |
|
Short particulars
of the property charged |
Equitable
Mortgage over the immovable properties belonging to the company.
The other
existing securities remain same. |
|
Particulars of
the present modification |
By the present modification,
the existing overall all limit to an extent of Rs. 400.000 Millions granted
by SBI, has additionally been secured by the immovable properties belonging
to the company. The first charge being held by the consortium banks lead by
SBI for the overall limit of Rs. 1682.500 Millions. The other
existing securities remain same. |
Fixed Assets:
·
Land
·
Building
·
Development of Property
·
Plant and Machinery
·
Office Equipments
·
Furniture and Fittings
·
Vehicles
·
Computers
·
Software
AS PER WEBSITE
LEADERSHIP:
Prasad Koneru, Group Managing Director
Founder-Chairman and Chief Mentor of the Trimex Group. Prasad Koneru is a
first-generation entrepreneur, the driving force behind Trimex’s growth from a
small trading firm in 1985 to an over USD 1 billion net worth global business
that operates across multiple business lines mining, processing trading and
several countries. With his log-standing experience of several industry sectors
spanning industrial raw minerals, real estate development, trading, shipping
and logistics, Prasad is guiding the Trimex Group into new business and
geographies.
Through the Koneru Prasad Foundation, Prasad is involved in extensive
philanthropic activities including the activities in free clinics and schools
in
Pradeep Koneru, CEO and Executive Director
Pradeep Koneru oversees the
Madhu Koneru, Director
Madhu Koneru oversees the Trimex Group’s operations outside of
As Executive Vice Chairman of MEC (Minerals, Energy and Commodities), Madhu has
led pioneering investments in
Madhu is the Executive Director of Trimex Group, a member of the Board
of Directors of RMMI, Padaeng Industries PLC, a zinc mining and Smelter Company
that owns the only zinc smelter plant in Southeast Asia and Al Ghanem
Industrial Company in
MANAGEMENT:
Madhu Koneru, Director
Madhu Koneru oversees the Trimex Group’s operations outside of
As Executive Vice Chairman of MEC (Minerals, Energy and Commodities), Madhu has
led pioneering investments in
Madhu is the Executive Director of Trimex Group, a member of the Board
of Directors of RMMI, Padaeng Industries PLC, a zinc mining and Smelter Company
that owns the only zinc smelter plant in Southeast Asia and Al Ghanem
Industrial Company in
Ch. V. G. K. Murthy – Chief Operating Officer
Extensive experience in infusing core processes with quality and cost
improvements through strategic leadership in the Mining and Mineral Processing
Industry. Prior to this assignment he was with Tata Steel from 1988 to 2008
holding various positions from Manager (Rand D) to Chief RMTG/TBU,
Arijit Bagchi – Vice President
B.Tech (Hons) in Mining Engineering from IIT, Kharagpur, PGDBA and DIS (AU),
FCC( DGMS) , RQP(IBM and AMD). During his lifetime, he has held key positions
in 3 green field projects viz Malanjkahand Copper Project (HCL), Tandur Cement
Project(CCI) and since 2005 in Srikurmam Mineral Sands Project of Trimex Sands
Private Limited from concept to successful commissioning. His 30 years of
expertise and training include Identification of new prospects, Dredge Mining,
Design of Hard Rock Copper, limestone and Titanium ore Mines, Controlled
Blasting, Concept Design and evaluation of new concentration and separation
plants, Bankable Feasibility Report, Project Management, Management of
operating Plants and Mines, Obtaining all types of clearances and permissions,
Due Diligence etc. He is currently the Vice President of Mining Engineers
Association of India (MEAI) since 2005.
Sudhakar Adhikaree, Head – Geology
Sudhakar is a Post Graduate in Applied Geology from IIT Kharagpur, and has close
to 30 years experience.
Sudhakar started his career with Tata Steel as an Exploration Geologist and
rose to become Head-Geology and Environment of Titania Business Unit, before
leaving in 2005, after 23 years. Prior to joining the Trimex Group in 2008, he
was GM (Projects and Business Development), with the
Sudhakar is a registered RQP for both IBM and AMD, and brings with him his
experience in
Deepak Rathod - Executive Officer to Director
Professionally qualified M.Tech in Mineral Exploration (Gold Medallist) and
M.Sc (Applied Geology) and is having 15 years of experience in mineral Industry
i.e. Limestone, Chromite, Bauxite,
V.H. Rafi Ahammed – Head - Srikurmam Mineral Sands Project
Graduate in Mechanical Engineering from
N. Jai Sankar – Head–New Projects
Engineering graduate with MBA and holding membership in
THE GROUP VENTURES:
India’s top specialty value chain provider for industrial minerals, the
Trimex Group is a minerals business house with interests in extraction, sourcing,
procurement, delivery, and R and D. Trimex delivers products such as Barite,
Bentonite, Iron Ore, Feldspar, Bauxite, Ball Clay and Kaolin, among others, to
the world’s leading Oil Drilling, Ceramic, Glass, Construction, Energy, Steel,
and Fertilizer companies.
Founded in 1985 by Prasad Koneru, a veteran of the Indian minerals
industry, Trimex’s global delivery network includes offices in
The Group manages the minerals business through two strategic business
units. Trimex International, based in
- Trimex
- Trimex
Industries
- Trimex Sands
- Trimex
International
- Trimex
Trading
- Trimex
Processing
- Trimex
Plant, UAE
- Al Ghanaem
Industrial Co
- RAK Minerals
and Metals Investments
- RAK Minerals
and Metals
- RAK Coal and
Energy
- Ceramin
- MEC-Holding
- MEC-Coal
- MEC-Infa
Press Release:
Andhra CM Dr K
Rosaiah inaugurates Srikurmam Mineral Sands
World-class, integrated, multi-mineral complex
Commercial production, shipment of industrial minerals commences. Srikurmam project among
Visakhapatnam/Srikakulam, 26 June 2010: Hon’ble Chief
Minister of Andhra Pradesh Dr K Rosaiah, today inaugurated the Srikurmam
Mineral Sands project, an integrated complex for the extraction and separation
of heavy mineral rich beach sands to produce multiple heavy minerals. The
Srikurmam project is an initiative of the Trimex Group,
Located at
The products are used in the manufacture of paints, ceramics, abrasives,
insulation, cosmetics, paper, leather, glass products, artificial gems,
aircraft parts, artificial human joints, and filtration media, among others.
The company has acquired the mining lease for 7.2 square kilometers in
the coastline of Srikakulam for 30 years from the date of the lease award,
renewable for another 30 years.
Today's inauguration by Dr Rosaiah marks the successful completion of
the first phase of the Srikurmam project—pilot studies; bulk samples; extensive
hydrology; extensive environmental, social and public perception studies;
complete detailed engineering; and the finalization of the mining license agreement
with the government and private land owners.
The INR 2500.000 Millions investment in the first phase will be followed
by INR 4000 crore investments in multiple phases, until FY2017-18, for the
expansion of extraction areas, increase of processing capacity, technology
upgradation, and research and development of high value and premium products.
Comment by Dr K
Rosaiah, Hon'ble Chief Minister of Andhra Pradesh
The Srikurmam project represents a major milestone for the development
of rich natural resources that Andhra Pradesh is endowed with, said Dr K
Rosaiah, Hon'ble Chief Minister of Andhra Pradesh. “Srikurmam will play a
pivotal role in helping to meet the demand for high quality heavy minerals in
the supply-deficit global market. I congratulate Trimex for being extremely
serious about of its responsibilities as a corporate citizen. The integration
of environment sustainability and transparent involvement of all stakeholders
makes Srikurmam a role model for sustainable socio-economic development not
just for the state but for the rest of
Comment from Prasad Koneru, Chairman, Trimex Group Trimex Group Chairman
Prasad Koneru said that the project has already generated significant
opportunities in the region. “The Srikurmam project demonstrates that
environmental sustainability, land conservation, and fast economic growth can
coexist. We believe that the Trimex group has established an important
enviro-economic precedent for mineral extraction projects. I am confident this
project will make a sustainable economic and social contribution to the
region,” Prasad Koneru said.
Comment from
Pradeep Koneru, Executive Director, Trimex Group
Trimex Group Executive Director Pradeep Koneru said that the Srikurmam
project is an important milestone for the group and the minerals extraction
industry.
"Our mission is to be among the world's largest producers of top
quality industrial heavy minerals. We are confident that our fully-integrated
multi-mineral separation and processing complex has few equals even among
global peers in terms of ambition and quality," Pradeep Koneru said.
"Very hearteningly, all this has been achieved with the transparent
and proactive involvement of multiple stakeholders. All the necessary Central
and State government clearances and approvals have been received. The project
has in place an ongoing reclamation plan, re-contouring of the land to its
original shape, including dunes, and management of groundwater resources. The
minimum acreage of land is actively mined at any given moment with no use of
harmful chemicals and, most importantly, land is merely rented from the
landowners and goes back to them after the extraction process is
complete," Pradeep Koneru added.
About Trimex Group
India's top specialty value chain provider for industrial minerals, the
Trimex Group is a minerals business house with interests in extraction,
sourcing, procurement, delivery, and R and D. Trimex delivers products such as
barite, bentonite, iron ore, feldspar, bauxite, ilmenite, ball clay, and
kaolin, among others, to the world’s leading oil drilling, ceramic, glass,
construction, energy, steel, and fertilizer companies.
Founded in 1985 by Prasad Koneru, a veteran of the Indian minerals
industry, Trimex's global delivery network includes offices in
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 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.45.12 |
|
|
1 |
Rs.73.43 |
|
Euro |
1 |
Rs.62.32 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
3 |
|
--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 |
|
27 |
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.