MIRA
INFORM REPORT
|
Report Date : |
15.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
TECNIMONT ICB PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Technimont ICB House, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
09.07.1958 |
|
|
|
|
Com. Reg. No.: |
11-13544 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.13.887 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74140MH1958PTC013544 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMT08884B/ MUMT10392E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACI2628B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Provide
Services in Engineering Consultancy, Turnkey Projects, Instruments Erection,
Software Development and Allied Activities. |
|
|
|
|
No. of Employees
: |
Not
Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 6000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade relations
are reported as fair. Business is active. Payments are reported to be usually
correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
INFORMATION DECLINED BY
Management Non Co-Operative [Name not disclosed]
LOCATIONS
|
Registered/ Head Office : |
Technimont ICB House, |
|
Tel. No.: |
91-22-66945555 |
|
Fax No.: |
91-22-66945599 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office : |
New Delhi – India Room No.201-202, Ashoka Hotel, 50/B, Chankya Puri, New Tel/Fax : 91-11-24102337 e-mail : ticbdel@satyam.net.in Abu Dhabi - U.A.E. Electra Street, 202 Al Nowais
Building, 2nd Floor, Behind Dana Hotel, Post Box 51120, Abu Dhabi, U.A.E. Tel: + 971-2-6451228 Fax: + 971-2-6451252 e-mail : ticbabd@emirates.net.ae Kingdom of Saudi Arabia Al Tel: + 966-2-6926475 Fax : + 966-2-6926143 e-mail : infoticb.saudi@ticb.com Doha – Qatar Tecnimont ICB Tel: +974 4665557 Fax : +974 4650680 e-mail : b.venugopalan@ticb.com |
DIRECTORS
AS ON 12.08.2011
|
Name : |
Mr. Gianni Bardazzi |
|
Designation : |
Chairman |
|
Address : |
Via Jacopo Nardi, 19, Firenze, Italy - 50132 |
|
Date of Birth/Age : |
31.01.1965 |
|
5Date of Appointment : |
12.08.2011 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U74140MH1958PTC013544 |
TECNIMONT ICB PRIVATE LIMITED |
Director |
12/08/2011 |
06/07/2010 |
- |
Active |
NO |
|
Name : |
Mr. Gopalsamy Sathiamoorthy |
|
Designation : |
Managing Director |
|
Address : |
17-602, Vindyagiri, Siddachal, Phase – III, Near Vasant Vihar. Thane –
400610, |
|
Date of Birth/Age : |
19.05.1965 |
|
Date of Appointment : |
12.08.2011 |
|
Email : |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U74140MH1958PTC013544 |
TECNIMONT ICB PRIVATE
LIMITED |
Managing director |
12/08/2011 |
06/07/2010 |
- |
Active |
NO |
|
Name : |
Mr. Naresh Desai |
|
Designation : |
Director (Procurement) |
|
Address : |
1-B, Takshashila Apartments, 50, Tagore Road, Santacruz (West), Mumbai
– 400610, Maharashtra, India |
|
Date of Birth/Age : |
24.09.1952 |
|
Date of Appointment : |
12.08.2011 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U74140MH1958PTC013544 |
TECNIMONT ICB PRIVATE
LIMITED |
Whole-time director |
12/08/2011 |
06/07/2010 |
- |
Active |
NO |
|
Name : |
Mr. Mario Ruzza |
|
Designation : |
Director |
|
Address : |
VI A Baldassara, 5 Cogliate, Milano 20020, |
|
Date of Birth/Age : |
10.04.1954 |
|
Date of Appointment : |
12.08.2011 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U74210MH1997PTC217816 |
MAIRE ENGINEERING INDIA
PRIVATE LIMITED |
Director |
30/05/2006 |
30/05/2006 |
- |
Active |
NO |
|
2 |
U74140MH1958PTC013544 |
TECNIMONT ICB PRIVATE
LIMITED |
Director |
12/08/2011 |
30/05/2006 |
- |
Active |
NO |
|
Name : |
Mr. Roberto Bertocco |
|
Designation : |
Director |
|
Address : |
VI-A, Mameli 6, |
|
Date of Birth/Age : |
09.10.1962 |
|
Date of Appointment : |
12.08.2011 |
|
Email : |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U74140MH1958PTC013544 |
TECNIMONT ICB PRIVATE
LIMITED |
Director |
12/08/2011 |
27/04/2005 |
- |
Active |
NO |
|
Name : |
Mr. Francesco Rossi |
|
Designation : |
Director |
|
Address : |
Vile Umbria, 44, Milano, Italy - 20135 |
|
Date of Birth/Age : |
09.12.1952 |
|
Date of Appointment : |
12.08.2011 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U74140MH1958PTC013544 |
TECNIMONT ICB PRIVATE
LIMITED |
Director |
12/08/2011 |
06/07/2010 |
- |
Active |
NO |
|
Name : |
Mr. |
|
Designation : |
Director (Projects) |
|
Address : |
47/1001, Everyshine Millennium Paradise, Thakur Village, Kandivali
(East), Mumbai – 400101, Maharashtra, India
|
|
Date of Birth/Age : |
09.12.1952 |
|
Date of Appointment : |
12.08.2011 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U45201MH2001PTC134378 |
HAZIRA CRYOGENIC
ENGINEERING AND CONSTRUCTION MANAGEMENT PVT LTD |
Director |
18/01/2002 |
18/01/2002 |
- |
Active |
NO |
|
2 |
U74140MH1958PTC013544 |
TECNIMONT ICB PRIVATE
LIMITED |
Whole-time director |
12/08/2011 |
06/07/2010 |
- |
Active |
NO |
|
3 |
U24100MH1964GAP012887 |
PROCESS PLANT AND
MACHINERY ASSOCIATION OF INDIA |
Nominee director |
16/09/2011 |
16/09/2011 |
- |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Parameswaran Lyer trikkur |
|
Designation : |
Company Secretary |
|
Address : |
A-3/302, Vikas Complex, Castle Mills, L B S Marg, Thane (East), Thane
– 400601, |
|
Date of birth/Age: |
07.05.1953 |
|
Date of Appointment : |
05.12.1990 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 12.08.2011
|
Names of Shareholders |
|
No. of Shares |
|
Tecnimont Planung Und Industrieanlagenbau GMBH |
|
1 |
|
Tecnimont S.P.A. |
|
1388669 |
|
Total |
|
1388670 |
AS ON 12.08.2011
|
Category |
|
Percentage |
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Provide
Services in Engineering Consultancy, Turnkey Projects, Instruments Erection,
Software Development and Allied Activities. |
GENERAL INFORMATION
|
Bankers : |
State Bank of India, Commercial Branch, G N Vaidya Marg, Mumbai – 400023, Maharashtra, India |
|
|
|
|||||||||||||||
|
Banking
Relations : |
(Secured by
immovable properties of the Company situated at Malad together with anything attached
to earth, both present and future, mortgaged on pari passu basis by
hypothecation and first charge to and in favour of certain banks jointly
ranking pari passu interse to secure the fund/non fund based limits granted
by the said banks and by hypothecation of the Company's entire goods,
movables, both assets and receivables present and future. |
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Auditors : |
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|
Name : |
Deloitte Haskins and sells Chartered Accountant |
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Address : |
|
|||||||||||||||
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Tel. No.: |
91-22-66679000 |
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Fax No.: |
91-22-66679100 |
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Holding Company : |
Tecnimont Spa |
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Joint ventures: |
Hazira Cryogenic Engineering and Construction Management private Limited |
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|
Associates : |
· Sofregaz · Technimont International S. A. (TISA) · TWS SA · Tecnimont Arabia Limited · Stamicarbon BV |
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|
Subsidiaries : |
Engineering and Designs Tecnimont ICB Private Limited CIN No.: U74210MH2003PTC142289 Tecnimont ICB Qatar W.L.L. |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3000000 |
Equity Share |
Rs.10/- each |
Rs.30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1388670 |
Equity Share |
Rs.10/- each |
Rs.13.887
Millions |
|
|
|
|
|
Note:
Of the above 694,335 equity shares are allotted as fully paid-up by way
of bonus sham by capitalisation from General Reserve.
Of the above 1,388,669 Equity sham are held by Tecnimont S.P.A, the holding company
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
13.887 |
13.887 |
13.887 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1476.708 |
1270.910 |
901.208 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1490.595 |
1284.797 |
915.095 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
542.676 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
542.676 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
4.961 |
13.634 |
18.749 |
|
|
|
|
|
|
|
|
TOTAL |
1495.556 |
1841.107 |
933.844 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
330.862 |
349.705 |
262.519 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.256 |
1.255 |
0.200 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
118.449
|
387.886 |
355.210 |
|
|
Sundry Debtors |
1824.215
|
2110.251 |
340.410 |
|
|
Cash & Bank Balances |
297.421
|
363.663 |
445.860 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
402.253
|
201.148 |
141.176 |
|
Total
Current Assets |
2642.338
|
3062.948 |
1282.656 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
896.074
|
856.005 |
366.222 |
|
|
Other Current Liabilities |
567.737
|
638.608 |
211.505 |
|
|
Provisions |
15.089
|
78.188 |
33.804 |
|
Total
Current Liabilities |
1478.900
|
1572.801 |
611.531 |
|
|
Net Current Assets |
1163.438
|
1490.147 |
671.125 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1495.556 |
1841.107 |
933.844 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
NA |
NA |
2519.214 |
|
|
|
Other Income |
NA |
NA |
26.491 |
|
|
|
TOTAL (A) |
NA |
NA |
2545.705 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Purchased of Materials, Civil Constriction and Job Work |
NA |
NA |
1374.475 |
|
|
|
Employees Benefit |
NA |
NA |
616.050 |
|
|
|
Other Expenses |
NA |
NA |
405.239 |
|
|
|
TOTAL (B) |
NA |
NA |
2395.764 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
NA |
149.941 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
NA |
14.706 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
NA |
135.235 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
NA |
51.768 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
310.439 |
551.988 |
83.468 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
104.642 |
208.507 |
46.601 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
205.797 |
343.481 |
36.867 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
793.111 |
449.630 |
423.408 |
|
|
|
|
|
|
|
|
|
Less |
Revised AS 15
Adjustment |
0.000 |
0.000 |
10.645 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
998.908 |
793.111 |
449.630 |
|
|
|
|
|
|
|
|
|
|
Export Value |
3129.809 |
2965.155 |
1178.709 |
|
|
|
|
|
|
|
|
|
|
Import Value |
5.560 |
1.027 |
1.577 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
148.20 |
247.35 |
26.55 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
NA
|
NA |
1.45 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
3.31 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.44
|
16.17 |
5.40 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21
|
0.43 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.99
|
1.65 |
0.67 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.79
|
1.95 |
2.10 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
(Rs.
In Millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors |
|
|
|
|
Total outstanding dues to micro and small enterprises |
5.793 |
1.103 |
0.000 |
|
Total outstanding dues to other than micro and small enterprises |
890.281 |
854.901 |
366.222 |
BACKGROUND
Subject (the Company)
was incorporated on 9 July 1958. The Company is engaged in industrial and
engineering construction contract and advisory activities including
engineering, instrumentation, electrical and erection works and deputation of
staff to associate entities.
BUSINESS
ENVIRONMENT AND OPERATING PERFORMANCE:
The Company was awarded two turnkey projects in
CONTINGENT
LIABILITIES IN RESPECT OF:
|
Particulars
|
31.03.2010 |
31.03.2009 |
|
|
(Rs. In Millions) |
|
|
Claims against the Company not
acknowledged as debts |
1.479 |
1.479 |
|
Sales tax demands disputed in appeals |
1.366 |
0.093 |
|
Bank Guarantees |
1061.295 |
903.478 |
|
Income Tax |
47.194 |
49.294 |
FIXED
ASSETS:
·
· Building
· Computers
· Furniture and Fixtures
· Office Equipment
· Motor cars
PRESS
RELEASE
NEW
AWARD IN REFINING SECTOR IN INDIA
·
Lump-Sum Turnkey Contract amounting
approximately USD18 MN awarded to the Group’s Indian subsidiary TICB
·
Client: India Oil Corporation Limited
(IOCL)
·
Project completion: expected by 2Q 2012
Rome/Mumbai, 09 September 2010 – Tecnimont ICB Private Limited
(TICB) , the Indian subsidiary of Maire Tecnimont S.p.A. and fully controlled
by Tecnimont S.p.A., the main operative company of the same Group, has been
awarded an important Lump-Sum Turnkey project related to the Sulphur
Solidification, Handling, Storage and dispatch unit at Panipat, India. TICB has
received an Award Notification from Indian Oil Corporation Limited (IOCL),
The project is on a Lump-Sum Turnkey basis for approximately
USD18 million, totally of TICB competence, and foresees the provision of
engineering, procurement, construction and commissioning (EPCC) services. The
contract foresees the completion of the facilities by 2Q 2012.
The project involves setting up a 770 Ton Per Day (TPD)
Sulphur Solidification and Pastillation facility through the expansion of the
existing Sulphur Recovery units, whereby the recovered sulphur will be
pastillated, stored and loaded for dispatch in an environment friendly manner.
With the award of this contract, TICB has further reinforced
its position as a EPC company in the Oil and Gas sector, confirming the
significant role of Maire Tecnimont Group in the Indian Market.
Tecnimont
ICB
TICB (an integral part of Maire Tecnimont group) is amongst
the few engineering and construction companies in India that has capability and
experience to supply plants on Lump-sum Turnkey basis in addition to providing
EPC services to group companies for projects worldwide. TICB group maintains a
highly qualified and experienced staff of more than 2000, specialized across
multidiscipline engineering, procurement, project and construction management
and is an ISO 9001-2008, ISO 14001-2004 and OHSAS 18001:2007 certified company.
Over the years TICB has received many prestigious awards for export
performance, best engineering practices and timely completion of projects.
Maire Tecnimont SpA
Maire Tecnimont
S.p.A. is the parent company of an Engineering and Construction International
industrial group which operates in three sectors: Oil, Gas and Petrochemicals,
Power, Civil Engineering and Infrastructure. Today, the Group, quoted on the
Milan Bourse, is present in approximately 30 Countries, currently controls over
40 operative companies and can rely on a workforce of about 5,100 employees, of
which more than half are located abroad. At 31 December 2009, the Group
reported Revenues of €2,164 million and Net income, after minorities, of €77
million.
Tecnimont ICB successfully commissions CO2 Plant for GPIC in
Bahrain
By communication
·
Advanced technology for recovery of
carbon di oxide
·
Client: Gulf Petrochemical Industries
Company
·
Project completion
Mumbai, 4th
January 2010, Tecnimont
ICB Private Limited (TICB) fully owned by Tecnimont SpA, the main operating
Company of Maire Tecnimont Group has commissioned a Carbon Di Oxide recovery
unit for Kingdom of Bahrain Gulf Petrochemical Company (GPIC) in
The
recovery unit can capture 450 metric tons of CO2 per day, one of the world’s
largest capacity units for the chemical application. Captured CO2 will be used
as feedstock for urea and methanol synthesis processes.
Mr.
Pietro Alessandrello, Managing Director of TICB states that “I would like to
congratulate team TICB for achieving another milestone in our company’s
glorious history; it is indeed a very proud moment for us”
Tecnimont ICB
TICB
(an integral part of Maire Tecnimont group) is amongst the few engineering and
construction companies in India that has capability and experience to supply
plants on Engineering, Procurement and Construction (EPC) Lump sum Turnkey in
addition to providing EPC services to group companies for projects worldwide.
TICB
group maintains a highly qualified and experienced staff of more than 2000,
specialized across multidiscipline engineering, procurement, project and
construction management and is an ISO 9001-2000, ISO 14001-2004 and OHSAS
18001:2007 certified company.
Over the years TICB has received many prestigious awards for
export performance, best engineering practices and timely completion of
projects.
Maire Tecnimont S.p.A.
Maire
Tecnimont S.p.A. is the parent company of an international industrial group which
provides a comprehensive, integrated system of services and installations in
its sectors: Chemicals and Petrochemicals, Oil and Gas, Power, Civil
Engineering and Infrastructure. The Group has established itself thanks to
advanced skills in Project Management and Main Contracting, by implementing
complex turnkey projects all over the world, combining high quality and
planning standards with a focus on multicultural and environmental issues. The
Group, listed on the Milan Stock Exchange, with a presence in 24 countries and
4 continents, currently controls 37 operating companies and can rely on a
workforce of about 4,300 employees, more than half of whom are outside
At 31
December 2008, the Group reported Revenues of €2,463 million and Net income of
€117 million.
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.50.08 |
|
|
1 |
Rs.80.36 |
|
Euro |
1 |
Rs.68.83 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
50 |
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.