MIRA
INFORM REPORT
|
Report Date : |
21.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
G.T. B. PACKERS |
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Registered
Office : |
9, Waryana Industrial Complex, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Year of
Establishment : |
2007 |
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Capital
Investment/ Paid-up Capital: |
Rs. 3.188 Millions |
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VAT / TIN No.: |
03462030980 |
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Legal Form : |
Sole Proprietory Concern. |
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Line of Business
: |
Manufacturer of Corrugated Boxes. |
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No. of
Employees: |
Approximately 35 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
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Comments : |
Subject is an established concern having moderate track. Trade
relations are reported as fair. The valuation report provided seems to be satisfactory.
No complaints have been heard from indirect or market sources. 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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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
|
Name : |
Mr. Gagandeep Singh |
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Designation : |
Proprietor |
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Contact No.: |
91-9815812122 |
|
Date : |
19.05.2011 |
LOCATIONS
|
Registered Office : |
9, Waryana Industrial Complex, |
|
Tel. No.: |
91-181-5002221 |
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Mobile No.: |
91-9815812122 (Mr. Gagandeep Singh) |
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E-Mail : |
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Area : |
12000 sq.ft. (Owned) |
SOLE PROPRIETOR
|
Name : |
Mr. Gagandeep Singh |
|
Designation : |
Proprietor |
|
Address : |
462, G.T. B Nagar, Jalandhar, |
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Date of Birth/Age : |
08.01.1979 |
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Qualification : |
Graduate |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Corrugated Boxes. |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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No. of Employees : |
Approximately 35 |
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Bankers : |
Corporation Bank, Jalandhar Branch |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Rajesh Kakkar and Associates Chartered Accountant |
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Address : |
6, Dashmesh Market, Near Bus Stand, |
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Tel. No.: |
91-181-4614910 |
CAPITAL STRUCTURE
As on 31.03.2010
(Rs. in Millions)
|
Particulars |
Amount |
Amount |
|
Mr. Gagandeep Singh |
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|
|
Opening Balance |
3.013 |
|
|
Net Profit |
0.283 |
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|
3.296 |
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Less: Drawings |
0.108 |
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Total |
|
3.188 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
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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|
|
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1] Share Capital |
3.188 |
3.013 |
1.944 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
3.188 |
3.013 |
1.944 |
|
|
LOAN FUNDS |
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|
|
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|
1] Secured Loans |
2.935 |
1.446 |
0.000 |
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|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
2.935 |
1.446 |
0.000 |
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|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
|
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TOTAL |
6.123 |
4.459 |
1.944 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.729 |
1.998 |
2.257 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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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 |
3.336
|
2.711 |
1.108 |
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Sundry Debtors |
0.274
|
0.908 |
0.972 |
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Cash & Bank Balances |
0.217
|
0.026 |
0.027 |
|
|
Other Current Assets |
0.109
|
0.000 |
0.000 |
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|
Loans & Advances |
0.000
|
0.000 |
0.000 |
|
Total
Current Assets |
3.936
|
3.645 |
2.107 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.467
|
1.118 |
0.811 |
|
|
Other Current Liabilities |
0.075
|
0.066 |
1.609 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
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Total
Current Liabilities |
0.542
|
1.184 |
2.420 |
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|
Net Current Assets |
3.394
|
2.461 |
[0.313] |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
6.123 |
4.459 |
1.944 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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|
|
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Income |
14.692 |
8.541 |
5.179 |
|
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Other Income |
0.000 |
0.000 |
0.075 |
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TOTAL |
14.692 |
8.541 |
5.254 |
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Less |
EXPENSES |
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Cost of Goods Sold |
12.909 |
7.170 |
4.362 |
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Bank charges |
0.300 |
0.167 |
0.205 |
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Cartage |
0.019 |
0.008 |
0.003 |
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Salary |
0.123 |
0.126 |
0.074 |
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Staff Welfare |
0.026 |
0.009 |
0.022 |
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Other Expenses |
0.776 |
0.565 |
0.293 |
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TOTAL |
14.153 |
8.045 |
4.959 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
0.539 |
0.496 |
0.295 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
0.257 |
0.260 |
0.131 |
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NET PROFIT |
0.282 |
0.236 |
0.164 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.92
|
2.76 |
3.12 |
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Net Profit Margin (PBT/Sales) |
(%) |
1.92
|
2.76 |
3.17 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
4.23
|
4.18 |
3.76 |
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|
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|
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.08 |
0.08 |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.09
|
0.87 |
0.08 |
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|
Current Ratio (Current Asset/Current Liability) |
|
7.26
|
3.08 |
0.87 |
LOCAL AGENCY FURTHER INFORMATION
PROJECTED
PROFITABILITY STATEMENT
(Rs. in Millions)
|
Particulars |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
Net Sales |
27.500 |
30.000 |
32.500 |
|
|
|
|
|
|
Net Purchase |
24.475 |
26.700 |
28.925 |
|
|
|
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|
Labour |
0.500 |
0.550 |
0.600 |
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|
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Power |
0.500 |
0.550 |
0.600 |
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|
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Administrative Expenses |
0.600 |
0.650 |
0.700 |
|
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|
|
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Depreciation |
0.240 |
0.207 |
0.176 |
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|
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|
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|
Term Loan Interest |
0.035 |
0.024 |
0.011 |
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C/C Interest |
0.600 |
0.600 |
0.600 |
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Net Profit Before Taxes |
0.550 |
0.719 |
0.888 |
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Taxation |
0.030 |
0.060 |
0.094 |
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Net Profit After Taxes |
0.520 |
0.659 |
0.794 |
PROJECTED BALANCE SHEET
(Rs. in Millions)
|
Particulars |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
Capital |
3.508 |
3.917 |
4.411 |
|
|
|
|
|
|
Bank C/C |
5.000 |
5.000 |
5.000 |
|
|
|
|
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|
Bank Term Loan |
0.240 |
0.127 |
-- |
|
|
|
|
|
|
Sundry Creditors and Payables |
0.900 |
1.000 |
1.100 |
|
|
|
|
|
|
Car Loans |
0.500 |
0.400 |
0.300 |
|
|
|
|
|
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Total |
10.148 |
10.444 |
10.811 |
|
|
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|
ASSETS |
|
|
|
|
|
|
|
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|
Fixed Assets |
2.488 |
2.281 |
2.105 |
|
|
|
|
|
|
Stock in hand |
7.000 |
7.300 |
7.600 |
|
|
|
|
|
|
Sundry Debtors and Advances |
0.600 |
0.800 |
1.050 |
|
|
|
|
|
|
Cash and Bank Balances |
0.060 |
0.063 |
0.056 |
|
|
|
|
|
|
Total |
10.148 |
10.444 |
10.811 |
|
|
|
|
|
|
Drawings |
0.200 |
0.250 |
0.300 |
PROJECTED CASH FLOW AND
FUND FLOW STATEMENT
(Rs. in Millions)
|
Particulars |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
Bank C/C |
3.002 |
-- |
-- |
|
|
|
|
|
|
Net Profit |
0.520 |
0.659 |
0.794 |
|
|
|
|
|
|
Depreciation |
0.240 |
0.207 |
0.176 |
|
|
|
|
|
|
Sundry Creditors and payables |
0.359 |
0.100 |
0.100 |
|
|
|
|
|
|
Total |
4.121 |
0.966 |
1.070 |
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
Stock in hand |
3.663 |
0.300 |
0.300 |
|
|
|
|
|
|
Sundry Debtors and Advances |
0.018 |
0.200 |
0.250 |
|
|
|
|
|
|
Repayable of Term Loan |
0.100 |
0.113 |
0.127 |
|
|
|
|
|
|
Drawings |
0.200 |
0.250 |
0.300 |
|
|
|
|
|
|
Car Loan Repayment |
0.097 |
0.100 |
0.100 |
|
|
|
|
|
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Total |
4.078 |
0.963 |
1.077 |
|
|
|
|
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|
Surplus / Deficiency |
0.043 |
0.003 |
[0.007] |
|
|
|
|
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Opening Cash and Bank Balances |
0.017 |
0.060 |
0.063 |
|
|
|
|
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|
Closing Cash and Bank Balances |
0.060 |
0.063 |
0.056 |
------------------------------------------------------------------------------------------------------------------------------
VALUATION REPORT
|
Registered Title Deed covering Property |
Title Deed Dated 05.02.2007 No. 7668 |
|
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Area as per actual measurement at site |
= 83’ X 110’ -6” = 9171 sft. = 44.30 Marlas of 207 sft = 33.72 Marlas of 272 sft. |
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Area as per Registered title deed |
= 33 Marlas 195 sft = 9171 sft = 44.30 Marlas of 207 sft = 33.72 Marlas of 272 sft. |
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Value of Property |
Land Component = Rs. 7.283 Millions Construction Component = Rs. 3.707 Millions Total = Rs. 10.990 Millions |
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Realizable Value (@ 85%) |
= Rs. 9.342 Millions |
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|
VALUE OF PROPERTY |
= Rs. 7.284 Million s+ Rs. 3.707 Millions = Rs. 10.990 Millions |
|
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Rounded to |
Rs. 10.990 Millions |
|
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Realizable Value @ 85% |
Rs. 9.342 Millions |
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GENERAL INFORMATION |
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Name of the party/ purchaser and address
(with Door No. and Survey No.) |
Mr. Gagandeep Singh s/o Mr. Piara Singh |
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Name/s of the reported owner/ name/s of
persons in whose name/s the property registered and address: |
Mr. Gagandeep Singh s/o Mr. Piara Singh |
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Purpose of Valuation |
Market Value for Banking Purpose |
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List of Documents produced for Perusal |
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Date of Inspection |
03.05.2010 |
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Date of Valuation |
03.05.2010 |
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Approximate distance from the branch to the
property |
About 6 kms. |
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Situation/ location / brief description of
the land/ site and brief description of the building |
Double Storey Commercial Building Location,
Site Plan of property |
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Boundaries of the Property:- As per title Deed East: Property No. 8 West: Property No. 16 North: Road South: Others |
As per Actual Measurement at Site East: Building No. 8 Robin Tools West: Building No. 10 North: Road South: Vacant Plot of Others |
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|
Property Tax Details |
Details with owner |
|
|
|
|
Assuring the entire property is let out, the
probable monthly rent and advance building rent |
Since under owner’s possession hence not
applicable |
|
|
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|
Whether the building plan has been approved? a)
If Yes, Date of
approval, approving authority, and whether the building has been constructed
as per the approved plan. b)
If no, the reason for non-
approval |
Details with owner |
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General Remarks |
Fully Developed Area |
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VALUATION
DETAILS |
|
|
LAND |
|
|
The Total Area (Extent) of the Site/ Land |
83’ X 110’-6” = 9171 sft = 44.30 Marlas of
207 sft. = 33.72 Marlas of 272 sft. |
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|
|
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Description of the site/ Land |
Plane Leveled Gound |
|
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a. Character of locality |
Commercial Property |
|
b. Classification |
Medium Property |
|
c. Development of surrounding areas |
Fully developed area |
|
d. Is the locality subjected to frequent
flooding |
No. |
|
e. Feasibility to the civic amenities like
School, Hospital, Offices, Markets etc. |
All Available |
|
f. Shape of land |
Rectangle with equal sides |
|
g. Type of use to which it can be put |
Commercial Property |
|
h. Any other restriction of usage |
Nil |
|
i. Nature of right, whether leasehold or
free hold |
Free Hold |
|
j. Road Facility |
Available |
|
k. Is it a corner plot |
Intermittent Plot |
|
l. Water supply/ Potentiality |
Corporation Supply |
|
m. Underground sewerage system |
Private Septic Tank |
|
n. Any other sentimental/ social issue which
may affect the value |
Nil |
|
|
|
|
GENERAL REMARKS |
|
|
Prevailing Unit Market Rate |
About Rs. 0.165 Million per Marla of 207 sft. About Rs. 0.216 Million per Marla of 272 sft. |
|
|
|
|
Unit rate adopted in this valuation |
Rs. 0.216 Million per Marla of 272 sft. |
|
|
|
|
Valuation of the site/ land |
Rs. 7.284 Millions |
|
|
|
|
BUILDING |
|
|
Type of Construction |
Load bearing Walls, Open Footing foundation |
|
|
|
|
Quality of Construction |
Good |
|
|
|
|
Appearance of the building |
Good |
|
|
|
|
Number of Floors |
Ground and First Floor |
|
|
|
|
Maintenance of the building |
Good |
|
|
|
|
DESCRIPTION OF THE BUILDING |
|
|
|
|
|
a. Foundation |
Open Footing |
|
b. Superstructure |
Open Footing |
|
c. Roof |
RCC |
|
d. Doors |
Steel Shutters and Steel Section |
|
e. Windows |
Steel Shutters and Steel Section |
|
f. Sanitary Fittings |
Good |
|
g. Flooring |
CC and Brick and Marble Flooring |
|
h. Electricity Supply |
Conduit and Surface |
|
|
|
|
Total Plinth Area |
9173 sft. |
|
|
|
|
Year of Construction |
2007-08 |
|
|
|
|
Total Life of the Building Estimated |
68 years |
|
|
|
|
GENERAL REMARKS |
Good Condition |
|
|
|
|
Present value of the buildings |
Rs. 3.707 Millions |
|
|
|
|
TOTAL VALUATION |
|
|
Valuation of the land |
Rs. 7.283 Millions |
|
|
|
|
Valuation of the building |
Rs. 3.707 Millions |
|
|
|
|
TOTAL |
RS. 10.990 MILLIONS |
DETAILED CALCULATIONS OF
VALUATION
PROPERTY:
Double Storey Commercial Building No. 9 situated
out of Khasra No. 81/9, 10, 11, 12, 13, 14, 15, 80/6 at Wariana Industrial
Complex, Near Sargodha Shuttering Store, Leather Complex Road, Village Wariana,
Jalandhar belonging to Mr. Gagandeep Singh s/o Mr. Piara Singh.
(A) VALUATION OF LAND
The value of the land depends upon its size
frontage, location, orientation purpose and utility to which it has to be put
to , civic amenities available in the area, commercial value and environmental
conditions etc.
The minimum stamp duty rate for the are of
Wariana has been fixed by the Deputy Commissioner, Jalandhar as Rs. 0.050
Million per Marla for residential category and Rs. 0.165 Million per Marla of
207 sft for commercial category (Rs. 0.217 Million per Marla of 272 sft.)
Considering the above stated factors the
market value of the land under valuation is reasonable at Rs. 0.165 Million per
Marla of 207 sft. (Rs. 0.216 Million per Marla of 272 sft.)
Area as per Actual measurement at Site
83’ X 110’-6” = 9171 Sft = 44.30 Marlas of 207
sft
= 33.72 Marlas of 272 Sft
Area as per Registered Title Deed
33 Marlas 195 sft = 9171 sft = 44.30 Marlas of
207 sft,
= 33.72 Marlas of 272 sft
= 33.72 Marlas @ Rs. 0.216 Million per Marla
of 272 sft. = Rs. 7.284 Millions
(B) VALUATION OF CONSTRUCTION
The construction part of the property
comprises of Double Storey Commercial Building, the market value of which has
been worked out on the plinth area rates and item/ jobs rates corresponding to
type of construction and building materials uses as under:-
1. GROUND FLOOR
a) Office, Room and Toilet Block (Ht. 14’ Approx)
Walls in Brick Masonry, Cement Plastered, RCC
Slab Roofing, Steel Section and Aluminium Section Joinery, CC Flooring, Conduit
and Surface Wiring.
15’ X 40’ = 600 sft.
= 600 sft @ Rs. 375/- per sft = Rs. 0.225 Million
b) Main Factory Area and Hall Room (Ht. 14’ Approximately)
Walls in brick Masonry, Cement Plastered, RCC
Slab Roofing, Steel Section and steel Rolling shutters Joinery, CC Flooring,
Conduit and Surface Wiring
66’ X 70’ = 4620 sft.
= 4620 sft @ Rs. 375/- per sft. = Rs. 1.733 Millions
c) Security Room
Walls in Brick Masonry, Cement Plastered, RCC
Slab Roofing, Steel Section Joinery, CC Flooring, Conduit and Surface Wiring
6’ X 10’ = 60 sft.
= 60 sft @ Rs. 300/- per sft. = Rs. 0.018 Million
d) Extra fro projections
477 sft @ Rs. 125/- per sft. = Rs. 0.060 Million
e) Extra for Brick flooring in Open Area
3250 sft @ Rs. 30/- per sft. = Rs. 0.098 Million
2. FIRST FLOOR
a) Labour Rooms
Walls in Brick Masonry, Cement Plastered, RCC
Slab Roofing, Steel Section and Aluminum section Joinery, CC Flooring, Conduit
and Surface Wiring.
15’ X 40’ = 600 sft.
= 600 sft @ Rs. 375/- per sft = Rs. 0.225 Million
b) Hall Room
Walls in Brick Masonry, Cement Plastered, RCC
slab Roofing, Steel Section and Steel Rolling Shtters Joinery, CC Flooring,
Conduit and Surface Wiring
17’ X 70’ = 1190 sft.
= 1190 sft @ Rs. 375/- per sft = Rs. 0.446 Million
c) Office Section (Ht, 10’ approximately)
Walls in Brick Masonry, Cement Plastered, RCC
slab roofing, Marble Flooring, Steel Section Joinery, Conduit Wiring.
46’ X 35.75’ = 1645 sft.
= 1645 sft @ Rs. 450/- per sft. = Rs. 0.740 Million
d) Mumty (Ht, 7’/6 ˝ Approximately)
Walls in Brick Masonry, Cement plastered,
Fiber Sheet Roofing, CC Flooring, Surface Wiring
18’ X 10’ = 180 sft.
180 sft@ Rs. 50/- per sft. = Rs. 0.009 Million
e) Extra for Projections
460 sft @ Rs. 125/- per sft.= Rs. 0.058 Million
3. EXTRA FOR BOUNDARY WALL
189’ long, thikness 9”, Height = 6 1/2’
Approximately
189 sft @ Rs. 350/= per sft = Rs. 0.066 Million
4. EXTRA FOR OVER –HEAD TANK AND GATE
Lump Sum = Rs. 0.030 Million
TOTAL = RS. 3.707 MILLIONS
VALE OF PROPERTY:
Adding (A) and (B) = Rs. 7.284 Millions + Rs. 3.707 Millions
=
Rs. 10.990 Millions
ROUNDED TO = RS. 10.990
MILLIONS
------------------------------------------------------------------------------------------------------------------------------
STATEMENT OF ASSETS AND
LIABILITIES
MR. GAGANDEEP SINGH
(Proprietor)
DETAILS
OF ASSETS OWNED
INVESTMENT IN BUSINESS CAPITAL:
|
Name of the Company/ Firm/ concern in which investment is made |
Amount Invested Rs in Millions |
|
G T B Packers |
Rs. 3.188 |
IMMOVABLE PROPERTIES
|
Name of the Owner |
Description of Property |
Location/ Address of Property (Please furnish full details with survey no., door no. etc.) |
Extent of Land |
Extent of Building area constructed |
|
Ggandeep Singh |
|
9, Waryana Industrial complex, Near Sargodha
Shuttering store, Jalandhar |
9171 sft. |
9193 sf.ft. |
|
Type of property/
i.e. whether residential/ agricultural/ industrial / commercial etc. |
Details of documents conferring right |
Date of
purchase of property |
Original purchase
cost |
Present market
value as on 13.05.2010 |
Details of encumbrances, if any, on the
property |
|
|
|
05.02.200 |
Rs. 1.300 Millions |
Rs. 10.990 Millions |
P.N.B. CC Rs. 2.000 Millions Chowk Sadan Term Loan RS. 0.430 Million |
OTHER ASSETS
Including Movable assets like furniture and fixture/ plant and
machinery/ vehicles/ jewels etc.)
|
Nature/ Details of Assets |
Market Value of Assets as on 13.05.2010 (Rs. in Millions) |
|
Furniture and Fixture |
0.079 |
|
Machinery |
0.475 |
|
Mini Truck |
0.239 |
|
Tata Sedan |
0.574 |
|
Others |
0.020 |
|
Total |
1.387 |
|
TOTAL ASSETS |
RS. 15.565 MILLIONS |
LIABILITIES
CREDIT LIMITS/ FACILITIES WITH FINANCIAL INSTITUTION AND BANKS:
|
Name of the Institution/ Bank |
Details of nature and extent of credit limits/ facilities enjoyed |
|
|
Nature of credit facility |
Extent (Rs. in Millions) |
|
|
Punjab National Bank, |
CC |
1.945 |
|
Chowk Sadanb Jalandhar |
Term Loan |
0.323 |
|
Mahindra Car Loan |
Vehicle Loan |
0.185 |
|
Tat Motor Finance |
Vehicle Loan |
0.443 |
|
Total |
2.896 |
|
|
TOTAL LIABILITIES |
RS. 2.896 MILLIONS |
|
NET WORTH |
RS. 12.669 MILLIONS |
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.44.93 |
|
|
1 |
Rs.72.92 |
|
Euro |
1 |
Rs.64.34 |
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.