MIRA
INFORM REPORT
|
Report Date : |
25.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
PRJ SANITARY APPLIANCES PRIVATE LIMITED |
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Registered
Office : |
C – 118, Front Face, 2nd Floor, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
10.09.1993 |
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Com. Reg. No.: |
55-055164 |
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Capital
Investment / Paid-up Capital : |
Rs.1.650 millions |
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|
|
CIN No.: [Company Identification
No.] |
U74899DL1993PTC055164 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELP09966F |
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PAN No.: [Permanent Account No.] |
AAACP4812A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Importer of Spair Parts, Bathroom Accessories. |
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No. of Employees
: |
Approximately 20 |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 8000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. The Company has
incurred some losses in the year 2009-10. However, Trade relations are
reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business with some cautions. |
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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Varun Jain |
|
Designation : |
Director |
|
Contact No.: |
91-9254004234 |
|
Date : |
20.10.2011 |
LOCATIONS
|
Registered Office/Factory : |
C – 118, Front Face, 2nd Floor, |
|
Tel. No.: |
91-180-2510597 |
|
Mobile No.: |
91-9254004243 (Mr. Varun Jain) |
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Fax No.: |
91-180-2570951 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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|
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Factory : |
34, HSIDC Industrial Estate, Samalkha-132101, |
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Tel. No.: |
91-180-2510597/2570209 |
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Fax No.: |
91-180-2570951 |
DIRECTORS
(AS ON 24.09.2010)
|
Name : |
Mr. Subhash Chand Jain |
|
Designation : |
Director |
|
Address : |
Mahavir Basti, Samalkha, Panipat-132101, |
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Date of Birth : |
20.08.1960 |
|
Date of Appointment : |
29.07.2005 |
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DIN No. : |
00447873 |
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|
|
|
Name : |
Mr. Varun Kumar Jain |
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Designation : |
Director |
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Date of Birth/Age : |
26 years |
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Qualification : |
Post Graduate |
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Date of Appointment : |
10.05.2010 |
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DIN No. : |
02914083 |
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|
|
|
Name : |
Mrs. Sangeeta Jain |
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Designation : |
Director |
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Date of Birth/Age : |
46 years |
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Qualification : |
Graduate |
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Date of Appointment : |
10.05.2010 |
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DIN No. : |
02914166 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 31.03.2007)
|
Names of Shareholders |
|
No. of Shares |
|
Ved Prakash Jain |
|
25400 |
|
Rakesh Kumar Jain |
|
23100 |
|
Vipin Kumar Jain |
|
5000 |
|
Vineet Kumar Jain |
|
5000 |
|
Sanjay Kumar Jain |
|
7000 |
|
|
|
6000 |
|
Subhash Jian |
|
7000 |
|
Paras Ram Jain |
|
7000 |
|
Pawan Kumar Jain |
|
7500 |
|
Veer Prakash Jain |
|
7000 |
|
Santosh Jain |
|
7000 |
|
Sangeeta Jain |
|
7500 |
|
Veermati Jain |
|
6000 |
|
Pisto Devi Jain |
|
7000 |
|
Rajinder Jain |
|
7000 |
|
Preeti Jain |
|
7500 |
|
Parkashoo Devi |
|
7000 |
|
Vimla Jain |
|
4000 |
|
Hemlata Jain |
|
5000 |
|
Vibha Jain |
|
7000 |
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|
|
|
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Total |
|
165000 |
Equity Share Break up
(AS ON 30.09.2010)
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
100.00 |
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Importer of Spair Parts, Bathroom Accessories. |
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Products : |
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Imports : |
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Products : |
Spair Parts |
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Countries : |
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Terms : |
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Selling : |
Cash. |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
Approximately 20 |
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Bankers : |
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Facilities : |
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Banking
Relations : |
---- |
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Auditors : |
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|
Name : |
Dheeraj Siri Pal and Company Chartered Accountant |
|
Address : |
Shakuntla Complex, First Floor, Palika Bazar, Panipat-132103, |
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Tel. No.: |
91-180-4002466 |
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Mobile No.: |
91-9896001211 |
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Income-tax PAN
of auditor or auditor’s firm : |
AAFFD1925L |
CAPITAL STRUCTURE
(AS ON 31.03.2010)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Share |
Rs.10/- each |
Rs.2.500 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
165000 |
Equity Share |
Rs.10/- each |
Rs.1.650
millions |
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|
|
|
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 |
1.650 |
1.650 |
1.650 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.444 |
1.239 |
1.162 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
2.094 |
2.889 |
2.812 |
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LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
6.593 |
5.019 |
5.327 |
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2] Unsecured Loans |
2.060 |
1.289 |
1.916 |
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TOTAL BORROWING |
8.653 |
6.308 |
7.243 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
10.747 |
9.197 |
10.055 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
3.954 |
3.101 |
3.005 |
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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 |
12.895
|
6.807 |
6.735 |
|
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Sundry Debtors |
1.188
|
1.549 |
1.127 |
|
|
Cash & Bank Balances |
0.094
|
0.228 |
1.598 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
0.245
|
0.196 |
0.394 |
|
Total
Current Assets |
14.422
|
8.780 |
9.854 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
6.322
|
1.641 |
1.516 |
|
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Other Current Liabilities |
1.307
|
1.043 |
1.201 |
|
|
Provisions |
0.000
|
0.000 |
0.087 |
|
Total
Current Liabilities |
7.629
|
2.684 |
2.804 |
|
|
Net Current Assets |
6.793
|
6.096 |
7.050 |
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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|
|
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|
|
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TOTAL |
10.747 |
9.197 |
10.055 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
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SALES |
|
|
|
|
|
|
|
Income |
20.237 |
15.469 |
14.483 |
|
|
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Other Income |
NA |
NA |
NA |
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TOTAL |
NA |
NA |
NA |
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EXPENSES |
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Administrative Expenses |
NA |
NA |
NA |
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Advertising Expenses |
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TOTAL |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
0.420 |
0.490 |
0.734 |
|
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|
|
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|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.531 |
0.496 |
0.736 |
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|
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|
PROFIT BEFORE TAX |
(0.111) |
0.006 |
(0.002) |
|
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|
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Less |
TAX |
0.000 |
0.000 |
0.000 |
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PROFIT AFTER TAX
|
(0.111) |
0.006 |
(0.002) |
|
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|
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|
|
|
|
Earnings Per
Share (Rs.) |
0.00 |
0.00 |
0.00 |
|
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover |
|
|
25.800 |
Expected Sales (2011-2012) : Rs.30.000
millions
The above information has been parted by Mr.
Varun Jain
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Net Profit Margin (PBT/Sales) |
(%) |
(0.55)
|
0.04 |
(0.01) |
|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.60)
|
0.05 |
(0.02) |
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|
Return on Investment (ROI) (PBT/Networth) |
|
(0.05)
|
0.00 |
0.00 |
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|
Debt Equity Ratio (Total Liability/Networth) |
|
7.77
|
3.11 |
3.57 |
|
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|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.89
|
3.27 |
3.51 |
LOCAL AGENCY FURTHER INFORMATION
Note:
Registered Office has been transferred from 34, HSIDC Industrial Estate,
Samalkha-132101,
|
Check List by
Info Agents |
Available in
reports |
|
1) Year of
Establishment |
Yes |
|
2) Locality of
the Firm |
Yes |
|
3) Constitution
of the Firm |
Yes |
|
4) Premises
Details |
Yes |
|
5) Type of
Business |
Yes |
|
6) Line of
Business |
Yes |
|
7) Promoter’s
Background |
--------- |
|
8) No. of
Employees |
Yes |
|
9) Name of person
contacted |
Yes |
|
10) Designation
of contact person |
Yes |
|
11) Turnover of
firm of last three years |
Yes |
|
12)
Profitability for last three years |
No |
|
13) Reasons for
variations <> 20% |
No |
|
14) Estimation
for coming financial year |
Yes |
|
15) Capital in
the business |
Yes |
|
16) Details of
Sister concern |
--------- |
|
17) Major
Suppliers |
--------- |
|
18) Major
Customers |
---------- |
|
19) Payments
terms |
Yes |
|
20) Export /
Import details (if applicable) |
Yes |
|
21) Market Information |
--------- |
|
22) Litigation
that the firm / promoter involved |
--------- |
|
23) Banking
Details |
Yes |
|
24) Banking
facility Details |
Yes |
|
25) Conduct of
the banking account |
--------- |
|
26) Buyer visit
details |
--------- |
|
27) Financials,
if provided |
---------- |
|
28)
Incorporation details, if applicable |
---------- |
|
29) Last account
field at ROC |
---------- |
|
30) Major
Shareholders, if available |
---------- |
FORM 8:
|
Corporate identity
number of the company |
U74899DL1993PTC055164 |
|
Name of the
company |
PRJ SANITARY
APPLIANCES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
B-10/3, Group Industrial
Area, Delhi-110052, E-mail Id : bharara_92@yahoo.co.in |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
10240330 |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Oriental Bank of
Commerce, E-mail Id: bm0617@obc.co.in |
|
Nature of
instrument creating charge |
Equitable
Mortgage of Property Vide Ltr 21. |
|
Date of
instrument Creating the charge |
27.08.2010 |
|
Amount secured by
the charge |
Rs.2.500 millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
a) Rate of Interest: The Company has given its corporate guarantee in favour of Oriental
Bank of Commerce, Samalkha - Distt. Panipat having granted overdraft facility
of Rs.2.500 millions to M/S Parasnath Buildtex Impex. b) Terms of Payment: All amount payable under bank guarantee limit shall carry interest as
per Bank/ RBI guidelines from time to time. c) Margin NA d)
Extent
and Operation of the charge 100 % |
|
Description of
the property charged indicating whether it is a charged on |
Immovable
properties |
|
Short Particulars
of the property charged |
First charge by
way of Equitable mortgage of |
|
Brief description
of the instrument modifying the charge under section 135 |
|
|
Particulars of
the present modification |
First charge by
way of Equitable mortgage of |
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.49.87 |
|
|
1 |
Rs.79.72 |
|
Euro |
1 |
Rs.69.52 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.