MIRA
INFORM REPORT
|
Report Date : |
12.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
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Registered
Office : |
Mulukey Rorathang, |
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Country : |
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Date of
Incorporation : |
16.06.2010 |
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PAN No.: [Permanent Account No.] |
BNDPS4973B |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business
: |
Manufacture of Various Types of Stone Chips. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
New Concern |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a new concern and proposes to start a stone crushing unit.
Promoter is reported to be an experienced businessmen having satisfactory means.
Trade relations are reported as fair. No further details could be made
available. It would be advisable to take adequate securities while dealing with
the subject. |
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 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Dhebendra Subba |
|
Designation : |
Proprietor |
|
Contact No.: |
91-9933889291 |
|
Date : |
02.03.2011 |
LOCATIONS
|
Registered Office : |
Mulukey Rorathang, |
|
Mobile No.: |
91-9933889291 (Mr. Dhebendra Subba) |
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Location : |
Owned |
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|
Factory : |
Mulukey Busty, Rhenock, East Sikkim, |
|
Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr. Dhebendra Subba |
|
Designation : |
Proprietor |
|
Address : |
|
|
Date of Birth/Age : |
13.10.1971 |
|
Qualification : |
10 + 2 Passed |
|
Experience : |
40 years |
BUSINESS DETAILS
|
Line of Business : |
Manufacture of Various Types of Stone Chips. |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
Cash |
GENERAL INFORMATION
|
Customers : |
End Users |
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Bankers : |
· Corporation Bank NH -31A, Arithang Cross, Gangtok – 737101, |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Mishel Chandak and Company Chartered Accountant |
|
Address : |
Arithang, |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Not Available |
|
Borrowed : |
Not Available |
|
Total : |
Not Available |
FINANCIAL DATA
[all figures are
in Rupees Millions]
NEW CONCERN
LOCAL AGENCY FURTHER INFORMATION
COST OF PROJECT AND MEANS OF FINANCE
COST OF PROJECT
(RS.
IN MILLIONS)
|
Cost of Project |
Cost to be Incurred |
Cost Incurred |
Total |
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|
|
|
|
|
Land |
0.000 |
0.000 |
0.000 |
|
Building |
2.285 |
0.000 |
2.285 |
|
Plant and Machinery |
7.206 |
0.000 |
7.206 |
|
Utilities |
0.900 |
0.000 |
0.900 |
|
Preliminary Expenses |
0.122 |
0.028 |
0.150 |
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|
|
|
|
|
Total |
10.513 |
0.028 |
10.541 |
MEANS OF
FINANCE
|
Fixed Assets |
Total Cost |
Own Share |
Bank Finance |
|
|
|
|
|
|
Land |
0.000 |
0.000 |
0.000 |
|
Building |
2.285 |
0.821 |
1.464 |
|
Plant and Machinery |
7.206 |
1.800 |
5.406 |
|
Utilities |
0.900 |
0.270 |
0.630 |
|
Preliminary Expenses |
0.150 |
0.150 |
0.000 |
|
|
|
|
|
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Total |
10.541 |
3.041 |
7.500 |
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|
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Fixed Assets |
10.541 |
3.041 |
7.500 |
|
Working Capital |
1.112 |
1.112 |
0.000 |
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|
|
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Total |
11.653 |
4.153 |
7.500 |
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Means of Finance
|
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||
|
Promoter’s Contribution |
4.153 |
||
|
Bank Loan |
7.500 |
||
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|
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||
|
Total |
11.653 |
||
------------------------------------------------------------------------------------------------------------------------------
PROFITABILITY STATEMENT
(RS.
IN MILLIONS)
|
Particulars |
Year 1 |
Year 2 |
Year 3 |
Year 4 |
Year 5 |
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|
|
|
|
|
|
Gross Receipts |
30.713 |
33.784 |
43.356 |
47.691 |
59.955 |
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|
Operating Expenses |
|
|
|
|
|
|
Salary / Wages |
1.400 |
1.540 |
1.694 |
1.863 |
2.049 |
|
Expenses |
25.276 |
28.020 |
36.054 |
39.921 |
50.236 |
|
|
|
|
|
|
|
|
Total |
26.676 |
29.560 |
37.748 |
41.784 |
52.285 |
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|
|
|
|
|
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|
Gross Profit |
4.037 |
4.224 |
5.608 |
5.907 |
7.670 |
|
|
|
|
|
|
|
|
Financial Charges |
|
|
|
|
|
|
- Interests on Loan |
0.878 |
0.683 |
0.488 |
0.293 |
0.098 |
|
Deprecation |
1.444 |
1.444 |
1.444 |
1.444 |
1.444 |
|
Operating Profit |
1.715 |
2.097 |
3.676 |
4.170 |
6.128 |
|
Amortized Expenses |
0.030 |
0.030 |
0.030 |
0.030 |
0.030 |
|
Profit before Tax |
1.685 |
2.067 |
3.646 |
4.140 |
6.098 |
|
Taxation |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit after Tax |
1.585 |
2.067 |
3.646 |
4.140 |
6.098 |
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Cash Accruals: |
|
|
|
|
|
|
|
|
|
|
|
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Profit After Tax |
1.685 |
2.067 |
3.646 |
4.140 |
6.098 |
|
Add: Deprecation |
1.444 |
1.444 |
1.444 |
1.444 |
1.444 |
|
Add: Amortized Expenses |
0.030 |
0.030 |
0.030 |
0.030 |
0.030 |
|
|
|
|
|
|
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|
Total |
3.159 |
3.541 |
5.120 |
5.614 |
7.572 |
------------------------------------------------------------------------------------------------------------------------------
PROJECTED BALANCE SHEETS
(RS.
IN MILLIONS)
|
LIABILITIES |
Imp. Per. |
Year 1 |
Year 2 |
Year 3 |
Year 4 |
Year 5 |
|
|
|
|
|
|
|
|
|
Promoters Capital |
4.153 |
4.153 |
4.153 |
4.153 |
4.153 |
4.153 |
|
Reserve and Surplus |
0.000 |
1.685 |
3.552 |
6.898 |
10.638 |
16.236 |
|
Term Loan |
7.500 |
6.000 |
4.500 |
3.000 |
1.500 |
0.000 |
|
|
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|
|
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|
Total |
11.653 |
11.838 |
12.205 |
14.051 |
16.291 |
20.386 |
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|
ASSETS |
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Fixed Assets |
|
|
|
|
|
|
|
Gross Block |
10.391 |
10.391 |
8.947 |
7.503 |
6.059 |
4.615 |
|
Less Depreciation |
0.000 |
1.444 |
1.444 |
1.444 |
1.444 |
1.444 |
|
Net Block |
10.391 |
8.947 |
7.503 |
6.059 |
4.615 |
3.171 |
|
|
|
|
|
|
|
|
|
Preliminary Expenses |
0.150 |
0.120 |
0.090 |
0.060 |
0.030 |
0.000 |
|
Working Capital |
0.000 |
1.112 |
1.232 |
1.573 |
1.741 |
2.179 |
|
|
|
|
|
|
|
|
|
Cash/ Bank |
1.112 |
1.659 |
3.380 |
6.359 |
9.905 |
15.039 |
|
|
|
|
|
|
|
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Total |
11.653 |
11.838 |
12.205 |
14.051 |
16.291 |
20.389 |
------------------------------------------------------------------------------------------------------------------------------
CASH FLOW STATEMENT
(RS.
IN MILLIONS)
|
SOURCES OF FUNDS |
Imp. Per. |
Year 1 |
Year 2 |
Year 3 |
Year 4 |
Year 5 |
|
|
|
|
|
|
|
|
|
KVIC |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit before Tax with Interests Added back |
0.000 |
2.563 |
2.750 |
4.134 |
4.433 |
6.196 |
|
Capital Introduced |
4.153 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Increase in Loan |
7.500 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Depreciation |
0.000 |
1.444 |
1.444 |
1.444 |
1.444 |
1.444 |
|
Pre-operative Expenses W/c |
0.000 |
0.030 |
0.030 |
0.030 |
0.030 |
0.030 |
|
|
|
|
|
|
|
|
|
Total |
11.653 |
4.037 |
4.224 |
5.608 |
5.907 |
7.670 |
|
|
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|
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|
APPLICATION OF
FUND |
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|
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|
|
|
|
|
|
|
|
|
|
|
Capital Expenses of the Project
|
10.391 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Preliminary Expenses |
0.150 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Decrease in Loan |
0.000 |
1.500 |
0.500 |
1.500 |
1.500 |
1.500 |
|
Interests on Loan |
0.000 |
0.878 |
0.683 |
0.488 |
0.293 |
0.098 |
|
Taxation |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Increase in w. Capital |
0.000 |
1.112 |
0.120 |
0.341 |
0.168 |
0.438 |
|
Drawings |
0.000 |
0.000 |
0.200 |
0.300 |
0.400 |
0.500 |
|
|
|
|
|
|
|
|
|
Total |
10.541 |
3.490 |
2.503 |
2.629 |
2.361 |
2.536 |
|
|
|
|
|
|
|
|
|
Opening Cash/ Bank |
0.000 |
1.112 |
1.659 |
3.380 |
6.359 |
9.905 |
|
|
|
|
|
|
|
|
|
Surplus/ Deficit |
1.112 |
0.547 |
1.721 |
2.979 |
3.546 |
5.134 |
|
|
|
|
|
|
|
|
|
Closing Cash/ Bank |
1.112 |
1.659 |
3.380 |
6.359 |
9.905 |
15.039 |
------------------------------------------------------------------------------------------------------------------------------
BREAK EVEN ANALYSIS
(RS.
IN MILLIONS)
|
Years |
Year 1 |
Year 2 |
Year 3 |
Year 4 |
Year 5 |
|
|
|
|
|
|
|
|
Capacity Utilisation (%) |
30 |
30 |
35 |
35 |
40 |
|
|
|
|
|
|
|
|
Sales (A) |
30.713 |
33.784 |
43.356 |
47.691 |
59.955 |
|
|
|
|
|
|
|
|
Variable Costs |
|
|
|
|
|
|
|
|
|
|
|
|
|
Expenses |
12.638 |
14.010 |
18.027 |
19.961 |
25.118 |
|
|
|
|
|
|
|
|
Total (B) |
12.638 |
14.010 |
18.027 |
19.961 |
25.118 |
|
|
|
|
|
|
|
|
Contribution C = A-B |
18.075 |
19.774 |
25.329 |
27.730 |
34.837 |
|
|
|
|
|
|
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|
Fixed Cost |
|
|
|
|
|
|
|
|
|
|
|
|
|
Salary/ Wages |
1.400 |
1.540 |
1.694 |
1.863 |
2.049 |
|
Expenses |
12.638 |
14.010 |
18.027 |
19.960 |
25.118 |
|
Interests on Term Loan |
0.878 |
0.683 |
0.488 |
0.293 |
0.098 |
|
Depreciation |
1.444 |
1.444 |
1.444 |
1.444 |
1.444 |
|
Amortized Expenses |
0.030 |
0.030 |
0.030 |
0.030 |
0.030 |
|
|
|
|
|
|
|
|
Total (D) |
16.390 |
17.707 |
21.683 |
23.590 |
28.739 |
|
|
|
|
|
|
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|
Assumption: 50%
of the expenses has been considered fixed and 50% has been considered
Variable |
|||||
|
BREAK EVEN POINT |
|
|
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|
|
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Sales Value (A*D/C) E |
27.850 |
30.253 |
37.115 |
40.571 |
49.460 |
|
% of Total Capacity E*80/A |
2.720 |
2.686 |
2.996 |
2.977 |
3.300 |
|
% of Capacity Utilization E*100/A |
9.068 |
8.955 |
8.561 |
8.507 |
8.250 |
|
Margin of Safety A-E |
2.863 |
3.531 |
6.241 |
7.120 |
10.495 |
|
|
|
|
|
|
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CASH BREAK EVEN POINT |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Fixed Costs |
16.390 |
27.707 |
21.683 |
23.590 |
28.739 |
|
Less: depreciation |
1.444 |
1.444 |
1.444 |
1.444 |
1.444 |
|
Less: Amortized Expenses |
0.030 |
0.030 |
0.030 |
0.030 |
0.030 |
|
Net Cash Fixed Costs (F) |
14.916 |
26.233 |
20.209 |
22.116 |
27.265 |
|
|
|
|
|
|
|
|
Cash break even point |
|
|
|
|
|
|
Sales Value G = F*A/C) |
25.345 |
27.734 |
34.592 |
38.036 |
46.923 |
------------------------------------------------------------------------------------------------------------------------------
STATEMENT OF ASSETS AND LIABILITIES
MR. DHEBENDRA
SUBBA
(RS.
IN MILLIONS)
ASSETS
INVESTMENT
IN BUSINESS CAPITAL
|
Name of the company/ firm/ concern in which
investment is made |
Amount Invested (Rs. In Millions) |
|
|
|
|
Investment is
Contract and Supply Business |
4.156 |
|
|
|
|
Total |
4.156 |
IMMOVABLE
PROPERTIES
|
Name of the Owner |
Description of Property |
Type of Property |
Present Market Value |
|
|
|
|
|
|
Mr. Dhebendra
Subba |
Land |
Commercial |
Rs.8.952
Millions |
|
|
|
|
|
|
Total |
Rs.8.952 Millions |
||
|
TOTAL ASSETS |
RS.13.108 MILLIONS |
|
NET WORTH |
RS.13.108 MILLIONS |
------------------------------------------------------------------------------------------------------------------------------
PROPERTY OF VALUATION REPORT
GENERAL
INFORMATION
|
Name of the Party and address |
Mr. Dhebendra Subba, S/o Mr. Chandra Bahadur Subba, R/o. Mulukey Busty, Rhenock Area, P.O. and P.S. Rhenock, Dist. Gangtok, Ph: 9933889291 (m). |
|
|
|
|
Name of the reported Owner Name of the persons in whose Name the property is registered and address |
Registered in name of:- Mr. Dhebendra Subba, S/o, Mr. Chandra Bahadur Subba, R/o. Mulukey Busty, Rhenock Area, P.O. and P.S. Rhenock, Dist. Gangtok, Ph: 99338 89291 Cm). |
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|
Purpose of Valuation |
Institutional Finance. |
|
|
|
|
Date of inspection |
12th March 2010. [The inspection was carried out in the presence of Mr. Dhevendra Subba
and Branch Manager -Corporation Bank, Gangtok] |
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|
|
|
Date of Valuation |
18th March 2010 |
|
|
|
|
Approximate distance from the branch to the property |
About 35 - 40 Kms. |
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|
|
|
Situation/ brief/ location description of the land/ site and brief
description of the building. |
The said Property consists of eight plots of land admeasuring a total
area of 1.6773 Hectares/ 414.47 decimals situated at Mulukey Block, Rhenock
Area, under Rongli Sub-Division, Dist. Gangtok, |
|
|
|
|
Boundaries of the property as per Deed (plot no. 31):- |
|
|
East West North South |
Govt. Gaucharan. Banjo and property of V. N. Bhutia and Sonam Topgay Bhutia. Property of L. B. Subba. Govt. Gaucharan. |
|
|
|
|
Boundaries of the property as per Deed (plot no. 34/ 688): |
|
|
East West North South |
Property of Raju Subba and Brother. Property of Yadha nath. Property of L. B. Subba. Property of Raju Subba and Brother. |
|
|
|
|
Boundaries of the property as per Deed (plot no. 382/689):- |
|
|
East West North South |
Govt. Road Reserve. Govt. Channel. Govt. Khola Property of Raju Subba and Brother. |
|
|
|
|
Boundaries of the property as per Deed (plot no. 383):- |
|
|
East West North South |
Property of Raju Subba and Brother. Govt. Channel and Property of Raju Subba and Brother. Govt. Khola. Property of D. R. Sharma and Brother. |
|
|
|
|
Boundaries of the property as per Deed (plot no. 386):- |
|
|
West North South East |
Govt. Channel. Property of Dilli Ram and others. Property of Dilli Ram and Brother. Property of D. R. Sharma and Brother. |
|
|
|
|
Boundaries of the property as per Deed (plot no. 387):- |
|
|
East West North South |
Govt. Khola and Channel. Property of D. R. Sharma and Brother. Govt. Khola. Property of D. R. Sharma and Raju Subba. |
|
|
|
|
Boundaries of the property as per Deed (plot no. 390/716):- |
|
|
East West North South |
Property of Dliii Ram Sharma and Brothers. Property of Dhan Bdr. and Dhebendra. Property of Dhan Bahadur Limboo. Road Reserved and Property of Dhebendra Subba. |
|
|
|
|
Boundaries of the property as per Deed (plot no. 390/715):- |
|
|
East West North South |
Property of Dhan Bahadur Limboo. Property of Dhan Bahadur Limboo. Property of Dhan Bahadur Limboo. Property of Dhan Bahadur Limboo. |
|
|
|
|
Property tax details |
Ground rent for the said property has been paid for 2009-10 and the
property tax |
|
|
|
|
Assuming the entire property is let out, the probable monthly rent and
advance building rent. |
Vacant land - hence, not applicable. |
|
|
|
|
General remarks. |
The said property is within close proximity to Golden Cross Pharmacy compound
and in the developing industrial area of Rorathang. |
|
|
|
|
VALUATION
DETAILS – LAND |
|
|
The total area/ extent of the Site/ land. |
The total land area under all the eight plots of land = 414.47
decimal. |
|
|
|
|
Description of site/ land |
The said property is situated along Rangpo-Rongli S.P.W.D. road and
has a gradual slope. |
|
|
|
|
Character of locality. |
Developing Industrial area. |
|
|
|
|
Classification Higher class Middle class Poor class |
Middle Class. |
|
|
|
|
Development of surrounding areas. |
The surrounding area is developing in to a industrial area with mostly
pharmaceutical manufacturing units of small and medium scale. |
|
|
|
|
Is the locality subjected to frequent flooding. |
Not applicable. |
|
|
|
|
Accessibility to the civic amenities like school, hospital, offices,
markets etc. |
All civil amenities within 06-07 km radius. |
|
|
|
|
Type of use to which it can be put. |
The property can be further developed for industrial purposes. |
|
|
|
|
Nature of right, whether leasehold/ freehold. |
Freehold. |
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|
|
|
Road facility. |
Along |
|
|
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|
Water supply/ potentiality. |
Water supply available (PHE). |
|
|
|
|
Underground sewerage system: |
Underground septic tanks can be constructed for sewerage disposal. |
|
|
|
|
General remarks |
The said property is located in the rapidly developing Industrial
area. |
|
|
|
|
Prevailing unit market rate |
Rs.24,000.00/ Decimal |
|
|
|
|
Unit rate adopted in this valuation |
Rs.21,600.00/ Decimal |
|
|
|
|
Valuation of the site/ Value |
414.47 decimal x Rs.21,600.00/ = Rs.8.953 Millions |
|
|
|
|
VALUATION
DETAILS – BUILDING |
|
|
Type of constructions |
The said four storey under construction building is an R.C.C. framed
structure, with isolated R.C.C. column foundations and stepped stone earth
retaining walls. |
|
|
|
|
Quality of Construction |
The quality of construction is of good quality and as per standard
practice. |
|
|
|
|
Appearance of the building. |
As such the building is under construction – hence cannot comment. |
|
|
|
|
Number of floors. |
Four storey of the under construction R.C.C. building — super
structure with partition walls have been completed. |
|
|
|
|
Maintenance of the building. |
The said under construction building is adequately maintained. |
|
|
|
|
Description of the building – |
|
|
Foundation |
Isolated R.C.C. column foundation. |
|
Superstructure. |
R.C.C.. |
|
Roof. |
41/2” thick R.C.C. slab. |
|
Doors. |
Wooden door frames — shutters not installed |
|
Windows. |
Wooden window frames — shutters not installed. |
|
Sanitary fittings. |
Sanitary fittings — not installed. |
|
Flooring. |
Flooring works have not commenced. |
|
Electricity supply. |
Single phase electric supply. |
|
|
|
|
Total plinth/ built up area. |
Built up area as per actual is asunder: Basement III floor - 2400.00 sq. ft. Basement II floor - 2700.00 sq. ft. Basement I floor - 2760.00 sq. ft. Ground floor - 2400.00 sq. ft. Total built up
area- 10260.00 sq. ft. |
|
|
|
|
Year of construction. |
The super structure of the said under construction building was
started in the year 2009. (As reported) |
|
|
|
|
Total life of building estimated |
The total estimated life of the building should exceed 69 years. |
|
|
|
|
General remarks. |
The said building is being developed for commercial and residential
use. |
|
|
|
|
Replacement rate of const. with the existing conditions and
specification. |
Rs.630.00/sq.ft. |
|
|
|
|
Replacement value. |
The replacement values as under: |
|
Calculations: Value of building (under construction) |
10260.00 sq. ft. X Rs.630.00/- = Rs.6.464 Millions |
|
|
|
|
Depreciation value at |
Depreciation calculated as :- 64,63,800 — 6,46,380 X 01 yr. ----------------------------- 70 yrs. = (-) Rs.83,106.00/- (app.) |
|
|
|
|
Present value of the building |
Rs.6.381 Millions |
|
|
|
|
TOTAL VALUATION |
|
|
Valuation of the land |
Rs.8.953 Millions |
|
Valuation of the Building |
Rs.6.381 Millions |
|
|
|
|
Total Market
Value |
Rs.15.333
Millions |
PROPERTY
VALUATION SUMMARY
|
Market Value |
Rs.15.332
Millions |
|
|
|
|
Present
Realisable value |
Rs.13.800
Millions |
|
|
|
|
Distress Value |
Rs.12.266
Millions |
------------------------------------------------------------------------------------------------------------------------------
PRESENT
BANKERS AND NATURE AND EXTENT OF CREDIT FACILITIES
|
Name of the Bank and Branch |
Outstanding Balance (Rs. In Millions) |
|
|
|
|
Axis Bank,
Rangpo Branch |
0.318 |
DETAILS
OF CREDIT LIMITS
|
Nature of Facility |
Amount |
Purpose |
Repayment |
|
|
|
|
|
|
Term Loan |
Rs.7.500
Millions |
To set-up A
stone crushing Unit at a Total Project
cost of Rs.11.653 Millions |
60 EMI with ITH
of 3 Months |
DETAILS
OF SECURITY PRIME AS WELL AS COLLATERAL OFFERED
|
Type of Security |
Name of the Owner/ Title Holder/ Insured
Depositor |
Location of the Property |
Face Value / Cost (Rs. In Millions) |
Market Value (Rs. In Millions) |
|
|
|
|
|
|
|
Primary Plant and
Machinery |
Dhebendra Subba |
Mulukey Busty
Rhenock east |
11.653 |
11.653 |
|
|
|
|
|
|
|
Collateral Land and
Building |
Dhebendra Subba |
Mulukey Busty
Rhenock east |
-- |
15.332 |
------------------------------------------------------------------------------------------------------------------------------
TRADE REFERENCE:
§
Mr. Reddy, Chuchen Coastal Project
Mobile No.: 91-9800043744
§
Mr. Santosh Pradhan, Rhenock Bajar
Mobile No.: 91-9932489369
§
Mr. Ramesh, Rongli, Makaibari Sew
Mobile No.: 91-9933113355
§
Mr. Sanjay Mittal, P S Road, Gangtok
Mobile No.: 91-9733200777
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.45.21 |
|
|
1 |
Rs.72.55 |
|
Euro |
1 |
Rs.62.43 |
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.