%20PRIVATE%20LIMITED%20-%20160181%2016-Nov-2011_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
|
Report Date : |
16.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
ASSOCIATE ALLIED CHEMICALS (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
41 Manoj Industrial Estate, G D Ambekar Marg, Wadala, Mumbai-400031, Maharashtra
|
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
20.06.1995 |
|
|
|
|
Com. Reg. No.: |
11-089749 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 5.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110MH1995PTC089749 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA1030PF |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCA0687L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Trader of Aromatic Chemicals |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 780000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. There
appears some losses being incurred by the company in the current year i.e.
2009-10. However, networth appears to be satisfactory. 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.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
41 Manoj Industrial Estate, G D Ambekar Marg, Wadala, Mumbai-400031,
Maharashtra, India |
|
Tel. No.: |
91-22-24198800 |
|
Fax No.: |
91-22-24135786 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
D-23, MIDC, Kurkumbh, Taluka Daund, District Pune-413802, Maharashtra,
India |
|
Tel. No.: |
91-2117-235476 |
|
Fax No.: |
91-2117-235498 |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Satish Chhotalal Gandhi |
|
Designation : |
Director |
|
Address : |
10, Matunga Kapol Co-Operative Housing Society, Dr. Ambedkar Road,
Matunga, Mumbai-400019, Maharashtra, India |
|
Date of Birth/Age : |
04.03.1954 |
|
Date of Appointment : |
20.06.1995 |
|
DIN No.: |
00298896 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U24249MH1984PTC032263 |
BOMBAY
PERFUMERY PRODUCTS PRIVATE LIMITED |
Director |
25-02-84 |
25-02-84 |
Active |
NO |
|
2 |
U24249MH1986PTC041806 |
AROMATIC
AGENCIES (INDIA) PRIVATE LIMITED |
Director |
08-12-86 |
08-12-86 |
Active |
NO |
|
3 |
U24110MH1995PTC089749 |
ASSOCIATE
ALLIED CHEMICALS (INDIA) PRIVATE LIMITED |
Director |
20-06-95 |
20-06-95 |
Active |
NO |
|
Name : |
Mr. Vinod Nathalal Vora |
|
Designation : |
Director |
|
Address : |
201, Rajkiran. M. G. Road, Kandivli (West), Mumbai-400067,
Maharashtra, India |
|
Date of Birth/Age : |
10.08.1939 |
|
Date of Appointment : |
20.06.1995 |
|
DIN No.: |
00298952 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U24249MH1986PTC041806 |
AROMATIC
AGENCIES (INDIA) PRIVATE LIMITED |
Director |
08-12-86 |
08-12-86 |
Active |
NO |
|
2 |
U24110MH1995PTC089749 |
ASSOCIATE
ALLIED CHEMICALS (INDIA) PRIVATE LIMITED |
Director |
20-06-95 |
20-06-95 |
Active |
NO |
|
3 |
U24249MH1984PTC032263 |
BOMBAY
PERFUMERY PRODUCTS PRIVATE LIMITED |
Director |
01-10-01 |
01-10-01 |
Active |
NO |
|
Name : |
Mr. Sachin Bipin Gandhi |
|
Designation : |
Director |
|
Address : |
10, Matunga Kapol Co-Operative Housing Society, Dr. Ambedkar Road,
Matunga, Mumbai-400019, Maharashtra, India |
|
Date of Birth/Age : |
02.10.1971 |
|
Date of Appointment : |
20.06.1995 |
|
DIN No.: |
00183157 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U24110MH1995PTC089749 |
ASSOCIATE
ALLIED CHEMICALS (INDIA) PRIVATE LIMITED |
Director |
20-06-95 |
20-06-95 |
Active |
NO |
|
2 |
U24249MH1986PTC041806 |
AROMATIC
AGENCIES (INDIA) PRIVATE LIMITED |
Director |
29-09-00 |
29-09-00 |
Active |
NO |
|
3 |
U24249MH1984PTC032263 |
BOMBAY
PERFUMERY PRODUCTS PRIVATE LIMITED |
Director |
30-09-00 |
30-09-00 |
Active |
NO |
|
4 |
U67120MH2006PTC159449 |
AXIS
SHARES AND SECURITIES PRIVATE LIMITED |
Director |
02-02-06 |
02-02-06 |
Active |
NO |
|
Name : |
Mr. Rashmi Satish Gandhi |
|
Designation : |
Director |
|
Address : |
10, Matunga Kapol Co-Operative Housing Society, Dr. Ambedkar Road,
Matunga, Mumbai-400019, Maharashtra, India |
|
Date of Birth/Age : |
21.10.1960 |
|
Date of Appointment : |
01.04.2002 |
|
DIN No.: |
00299305 |
|
|
|
|
Name : |
Ms. Padma Vinod Vora |
|
Designation : |
Director |
|
Address : |
201, Rajkiran. M. G. Road, Kandivli (West), Mumbai-400067,
Maharashtra, India |
|
Date of Birth/Age : |
16.10.1943 |
|
Date of Appointment : |
01.04.2002 |
|
DIN No.: |
00299478 |
|
|
|
|
Name : |
Ms. Kanan Sachin Gandhi |
|
Designation : |
Director |
|
Address : |
10, Matunga Kapol Co-Operative Housing Society, Dr. Ambedkar Road,
Matunga, Mumbai-400019, Maharashtra, India |
|
Date of Birth/Age : |
04.04.1976 |
|
Date of Appointment : |
01.04.2002 |
|
DIN No.: |
00299238 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Satish Chhotalal Gandhi |
310700 |
|
Sachin Bipin Gandhi |
98600 |
|
Rashmi Satish Gandhi |
14100 |
|
Manan Satish Gandhi |
66500 |
|
Vinod Nathalal Vora |
5100 |
|
Padma Vinod Vora |
5000 |
|
Total |
500000 |
AS ON 30.09.2010
|
Equity Shares
Break Up |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Aromatic Chemicals |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Di Ethyl Phthalate |
MT |
4131 |
1721137 |
|
Aromatic Chemicals |
Kgs/ MT |
5651.90 |
2920 |
|
Aromatic Chemicasl Bhivandi Unit |
MT |
-- |
287479 |
|
Rose Oxide |
MT |
150 |
13710 |
|
MPPS |
MT |
-- |
3140.30 |
Notes:
i.
The Company has been advised that no license is required for the products manufactured by the company.
ii.
#Installed capacity is as
certified by the management, and relied upon by the auditors, being a technical
matter
iii. Previous year figures are shown in brackets.
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Bankers : |
Bank of Baroda, Chandavarkar Road Branch, Matunga, Mumbai-400019,
Maharashtra, India |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Facilities : |
Notes: 1.
Cash credit and term loan are secured against land, factory
building and plant and machinery at Kurkumbh. 2.
Further the cash credit is also secured against stocks,
book debts, and other moveable assets of the company, group company and
personal guarantees of directors of the company
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R. D. Shenvi and Company Chartered Accountant |
|
Address : |
15/A, Bhatia Building. Lt. Dilip Gupte Marg, Mahim, Mumbai-400001,
Maharashtra, India |
|
Tel. No.: |
91-22-24383901 |
|
Mobile No.: |
91-9821052346 |
|
E-Mail : |
|
|
Pan No.: |
AAQPS4505C |
|
|
|
|
Related Parties : |
·
Aromatic Agencies (India) Private Limited ·
Bombay Perfurnery Products Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000 Millions |
|
|
|
|
|
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 |
5.000 |
5.000 |
5.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
191.670 |
194.442 |
160.584 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
196.670 |
199.442 |
165.584 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
14.176 |
2.148 |
0.000 |
|
|
2] Unsecured Loans |
128.381 |
133.466 |
110.670 |
|
|
TOTAL BORROWING |
142.557 |
135.614 |
110.670 |
|
|
DEFERRED TAX LIABILITIES |
10.104 |
7.374 |
9.733 |
|
|
|
|
|
|
|
|
TOTAL |
349.331 |
342.430 |
285.987 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
50.959 |
81.769 |
86.918 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.265 |
|
|
|
|
|
|
|
|
INVESTMENT |
45.445 |
32.501 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
158.289
|
193.468 |
140.383 |
|
|
Sundry Debtors |
259.537
|
190.070 |
163.566 |
|
|
Cash & Bank Balances |
26.595
|
13.576 |
11.401 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
51.976
|
67.498 |
33.983 |
|
Total
Current Assets |
496.397
|
464.612 |
349.333 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
237.883
|
228.698 |
193.151 |
|
|
Other Current Liabilities |
4.197
|
6.494 |
43.490 |
|
|
Provisions |
1.390
|
1.260 |
0.868 |
|
Total
Current Liabilities |
243.470
|
236.452 |
150.529 |
|
|
Net Current Assets |
252.927
|
228.160 |
198.804 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
349.331 |
342.430 |
285.987 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
887.259 |
778.678 |
714.627 |
|
|
|
Other Income |
19.175 |
7.072 |
16.966 |
|
|
|
TOTAL (A) |
906.434 |
785.750 |
731.593 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of traded products /cost of
materials |
|
|
568.105 |
|
|
|
Manufacturing, Administrative Expenses |
|
|
76.748 |
|
|
|
TOTAL (B) |
892.531 |
737.051 |
644.853 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
86.740 |
|
|
|
|
[Including |
[Including |
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
Financial |
Financial |
24.057 |
|
|
|
|
Expenses |
Expenses |
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
And Depreciation] |
And Depreciation] |
62.683 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
8.880 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
13.903 |
48.699 |
53.803 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
16.675 |
14.842 |
20.712 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(2.772) |
33.857 |
33.091 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
NA |
127.493 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
160.584 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Di Ethyl Phthalate |
22.174 |
48.418 |
41.178 |
|
|
|
Aromatic Chemicals |
108.932 |
101.405 |
104.475 |
|
|
|
Rose Oxide |
22.331 |
83.646 |
72.912 |
|
|
TOTAL EARNINGS |
153.437 |
233.469 |
218.565 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Chemicals for Trading |
284.411 |
325.357 |
254.900 |
|
|
|
Chemicals for Manufacturing |
60.529 |
21.821 |
57.038 |
|
|
TOTAL IMPORTS |
344.940 |
347.178 |
311.938 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(5.54) |
67.71 |
66.18 |
|
%20PRIVATE%20LIMITED%20-%20160181%2016-Nov-2011_files/image003.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20160181%2016-Nov-2011_files/image004.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
(0.31)
|
4.31 |
4.52 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.57
|
6.25 |
7.53 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.54
|
8.91 |
12.33 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.24 |
0.32 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.01
|
1.90 |
1.64 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.04
|
1.96 |
2.32 |
LOCAL AGENCY FURTHER INFORMATION
REVIEW OF OPERATIONS:
The Company's sales
turnover during the financial year 2009-2010 is Rs. 887.259 millions as
compared to Rs. 778.678 millions in previous year. There has been an increase
in the turnover of the Company approximately by 14 %. The Export turnover is
Rs.153.437 millions as against Rs. 235.884 millions in previous year.
On 8th August,
2009 a huge fire took place at the Company's industrial unit at Kurkumbh in
Rose Oxide section, in which the entire plant and machinery and materials in
the plant has been destroyed.
CONTINGENT
LIABILITIES (AS ON 31.03.2010):
Excise duty Liability on stock of
Rose Oxide destroyed in fire:
Rs. 0.613 million (previous
year Nil):
The Company has submitted an application for remission
of duty to the Central Excise Pune and Kurkumbh, requesting of Remission of Excise Duty on the rose Oxide destroyed in fire. The application is acknowledged by the
said authority. However, hearing in the subject matter is yet to take place.
FORM 8
|
Corporate
identity number of the company |
U24110MH1995PLC089749 |
|
Name of the
company |
ASSOCIATE ALLIED CHEMICALS (INDIA) LIMITED |
|
Address of the
registered office or of the principal place of business in |
41 Manoj Industrial Estate, G D Ambekar Marg, Wadala, Mumbai-400031,
Maharashtra, India |
|
This form is for |
Modification of charge |
|
Type of charge |
Book debts Movable property (not being pledge) |
|
Particular of
charge holder |
Bank of Baroda, Chandavarkar Road Branch, Matunga, Mumbai-400019, Maharashtra,
India |
|
Nature of
instrument creating charge |
Composite Hypothecation Agreement. |
|
Date of
instrument Creating the charge |
15.12.2006 |
|
Amount secured by
the charge |
Rs. 50.000 Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest BPLR +0.5% = 12% P.A. Presently On Cash Credit (Hypothecation of Stock
and Book-Debts) Cum Import / Inland L/C sight/DA - 180 days. BPLR - 3% = 8.5% ON PC/PSDL/FBP/UFBP. Terms of
repayment On demand. Margin 25% on cash credit (Hypothecation of stock and book-debts), cash
credit (rose oxide activity), bank guarantee and demand loan. 20% on import/inland L/C sight/DA - 180 days. 25% on PC. Extent and
operation of the charge The charge is created to secure Cash Credit (Hypothecation of Stock
and Book Debts) cum Import/Inland L/C Sight/DA - 180 days facility of
Rs.47.500 millions [with sub-limit Cash Credit (Rose Oxide Activity) of
Rs.10.000 millions and Import/Inland L/C Sight/DA - 180 days of Rs.22.500
millions] and Bank Guarantee facility of Rs.2.500 millions. |
|
Short particulars
of the property charged (Including location of the property) |
Stocks, both present and future and including all stocks of RMs, WIP,
SFGs, FGs such as Aromatic Chemicals, essential oils pharmaceutical
chemicals, foam chemicals, D. Ethyl Phthalate, Phthalic Auhydride, Rose Oxide
etc., packing materials and stores etc..and All the present and future
book-debts, outstanding, monies receivable, claims, bills, contracts,
engagements and securities etc. and All the tangible movable machinery and
plant and cranes, boats and crafts and the vehicles of the Borrower, both
present and future. |
|
Charge
identification number of the charge to be modified |
80023062 |
|
Particulars of
the present modification |
The charge is increased up to Rs.50.000 millions to cover Cash Credit
(Hypothecation of Stock and Book Debts) cum Import/Inland L/C Sight/DA - 180
days facility of Rs. 47.500 millions [increased from Rs. 25.000 millions]
[with sub-limit Cash Credit (Rose Oxide Activity) of Rs.10.000 millions and
Import/Inland L/C Sight/DA - 180 days of Rs.22.500 millions] and Bank
Guarantee facility of Rs. 2.500 millions [Fresh]. |
FIXED ASSETS:
·
Land
·
Freehold Land
·
Leasehold Improvements
·
Warehouse Building
·
Factory Building
·
Office Building
·
Plant and Machinery
·
Office Equipments
·
Computers
·
Electrical Installation
·
Furniture and Fixtures
·
Motor Vehicles
WEBSITE DETAILS
PROFILE
Subject is one of India's foremost companies in the aroma and industrial
chemicals sector. Since its inception 30 years ago, it has grown steadily to
become one of the most respected names in the field today, with a virtual
basket of quality ingredients that cater specifically to the aroma chemicals
market.
Subject trading portfolio comprises Aroma Chemicals, Specialties,
Natural Essential Oils, Resinoids and Natural Extracts ex-stock from Mumbai.
Apart from catering to the Flavour and Fragrance industry, Subject also offers specialty chemicals and
colours for the foam industry.
Subject ventured into manufacturing by starting production of DEP
(Di-Ethyl Phthalate), a plasticizer and solvent for perfumes and incense sticks
and Rose Oxide (RO) a high quality product for the Flavour and Fragrance
industry. Subject also has financial interest with various other Indian
producers. Their plant is located at Kurkumbh in Maharashtra, India. It is
close to Mumbai (Bombay), India's commercial capital and is easily accessible
by road and rail.
Currently, the plant has an installed capacity of 4000 tonnes per
year for DEP and 200 tonnes per year for RO and is well equipped to meet
increased local and global demand for both products in terms of quality and
quantity. Needless to say, product quality is continually monitored with the
help of specialized equipment and a state-of-the-art laboratory that meets
international technical and environmental specifications.
In many ways, Subject has proved to be a reliable and experienced
partner for all aroma related needs and are Indian agents / partners for
various international brands like Symrise, Biolandes, Kao Corporation, Capua
and IFF (Jacksonville), to name a few. – Welcome to AACIPL.
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. 50.56 |
|
|
1 |
Rs. 80.29 |
|
Euro |
1 |
Rs. 68.78 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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.