MIRA INFORM REPORT

 

 

Report Date :

25.10.2011

 

IDENTIFICATION DETAILS

 

Name :

VEGA AUTO ACCESSORIES PRIVATE LIMITED

 

 

Registered Office :

#543, Vithaldev Lane, Shahapur, Belgaum – 590003, Karnataka

 

 

Country :

India

 

 

Financials (as on) :

31.03.2010

 

 

Date of Incorporation :

31.05.1982

 

 

Com. Reg. No.:

08-004792

 

 

Capital Investment / Paid-up Capital :

Rs.1.500 Millions

 

 

CIN No.:

[Company Identification No.]

U35999KA1982PTC004792

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

BLRV03410B

 

 

PAN No.:

[Permanent Account No.]

AAACV6543N

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer and Exporter of Helmets and imports of fabric and visors

 

 

No. of Employees :

250 (Approximately) (In Office + In Factory)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (45)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 41000

 

 

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 dealing 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

 

 

 

 

 

 

 

 

 

 

 

 

INFORMATION PARTED BY

 

Name :

Mr. Sachin

Designation :

Accountant

Contact No.:

91-831-4218411

Date :

20.10.2011

 

 

LOCATIONS

 

Registered Office :

No. 543, Vithaldev Lane, Shahapur, Belgaum-590003, Karnataka, India

Tel. No.:

91-831-4218411

Fax No.:

91-831-4202241

E-Mail :

vega@vegaauto.com  / accounts@vegaauto.com

Website :

www.vegaauto.com

Location :

Owned

 

 

Factory :

Plot No. 12/B, Sy. No. 342 (Old 690), Bemciel Industrial Estate, Udayambag, Belgaum- 590008, Karnataka, India

Tel. No.:

91-831-4218444 / 4202320 / 21/ 25

Fax No.:

91-831-4202241

E-Mail :

vega@vegaauto.com 

 

 

DIRECTORS

 

As on 24.09.2010

 

Name :

Mr. Girdhari Premraj Chandak

Designation :

Director

Address :

20, 1st Cross, Mira Mahal, Adarsh Nagar, Belgaum-590011 Karnataka, India

Date of Birth/Age :

10.01.1982

Qualification :

Graduate

Date of Appointment :

01.11.1991

DIN No.:

00674030

 

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

U35999KA1982PTC004792

Vega Auto Accessories Private Limited

Director

01-11-91

01-11-91

-

Active

NO

2

U72200KA2000PLC026818

Vega Infotech Limited

Director

30-03-00

30-03-00

-

Active

NO

3

U50101KA1998PTC024494

Vega Funmobiles Private Limited

Director

01-05-01

01-05-01

-

Active

NO

4

U35303KA2005PTC036436

Vega Aviation Products Private Limited

Director

01-06-05

01-06-05

-

Active

NO

 

Name :

Mr. Uttam Premraj Chandak

Designation :

Director

Address :

Meera Mahal, 1st Cross, Adarsh Nagar, Hindawadi, Belgaum- 590011, Karnataka, India

Date of Birth/Age :

29.08.1970

Qualification :

Graduate

Date of Appointment :

01.11.1991

DIN No.:

00645073

 

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

U35999KA1982PTC004792

Vega Auto Accessories Private Limited

Director

01-11-91

01-11-91

-

Active

NO

2

U72200KA2000PLC026818

Vega Infotech Limited

Director

30-03-00

30-03-00

-

Active

NO

3

U35303KA2005PTC036436

Vega Aviation Products Private Limited

Director

01-06-05

01-06-05

-

Active

NO

 

Name :

Mr. Suhas Premraj Chandak

Designation :

Director

Address :

Meera Mahal, 1st Cross, Adarsh Nagar, Hindawadi, Belgaum- 590011, Karnataka, India

Date of Birth/Age :

14.02.1969

Qualification :

Graduate

Date of Appointment :

01.11.1991

DIN No.:

00645032

 

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

U35999KA1982PTC004792

Vega Auto Accessories Private Limited

Director

01-11-91

01-11-91

-

Active

NO

2

U50101KA1998PTC024494

Vega Funmobiles Private Limited

Director

07-12-98

07-12-98

-

Active

NO

3

U72200KA2000PLC026818

Vega Infotech Limited

Director

30-03-00

30-03-00

-

Active

NO

4

U35303KA2005PTC036436

Vega Aviation Products Private Limited

Director

01-06-05

01-06-05

-

Active

NO

 

Name :

Mr. Dilip Premraj Chandak

Designation :

Director

Address :

Meera Mahal, 1st Cross, Adarsh Nagar, Hindawadi, Belgaum- 590011, Karnataka, India

Date of Birth/Age :

15.07.1962

Qualification :

Graduate

Date of Appointment :

01.11.1991

DIN No.:

00644673

 

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

U35999KA1982PTC004792

Vega Auto Accessories Private Limited

Director

01-11-91

01-11-91

-

Active

NO

2

U50101KA1998PTC024494

Vega Funmobiles Private Limited

Managing director

07-12-98

07-12-98

-

Active

NO

3

U72200KA2000PLC026818

Vega Infotech Limited

Director

30-03-00

30-03-00

-

Active

NO

4

L51101KA1957PLC001283

Bemco Hydraulics Limited

Director

29-01-04

29-01-04

-

Active

NO

5

U35303KA2005PTC036436

Vega Aviation Products Private Limited

Director

01-06-05

01-06-05

-

Active

NO

 

KEY EXECUTIVES

 

Name :

Mr. Sachin

Designation :

Accountant

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 24.09.2010

 

Names of Shareholders

 

No. of Shares

Alka S Chandak

 

1833

Dilip P Chandak

 

1833

Giridher P Chandak

 

1833

Premraj Z Chandak

 

336

Sangeeta D Chandak

 

1833

Shalini G Chandak

 

1833

Suhas P Chandak

 

1833

Swati U Chandak

 

1833

Uttan  P Chandak

 

1833

Total

 

15000

 

Equity Share Break up (Percentage of Total Equity)

 

As on 30.09.2010

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of Helmets and imports of fabric and visors

 

 

Products :

 

 

Exports :

 

Products :

Helmets

Countries :

  • Canada
  • USA
  • Dubai
  • Germany

 

 

Imports :

 

Products :

  • Visors
  • Fabric

Countries :

  • China
  • Korea

 

 

Terms :

 

Selling :

L/C

 

 

Purchasing :

L/C

 

PRODUCTION STATUS

 

As on 31.03.2010

 

Production During the year

 

Particulars

Belgaum H. O.

Rudrapur

Helmets – Finished

130428

36

Helmets in Process

112693

0

Visors – Finished

7890

0

Helmet Accessories

1150

0

Plastic Scrap

7510

0

 

 

GENERAL INFORMATION

 

Suppliers :

Foreign

  • Dongguan Fuming Button Company Limited
  • Jinhui Plastic Factory, China
  • Right Apex Limited, China

 

Local

  • Arihant Plastic Industries
  • Aum Industries
  • Auto Parlour
  • Ayman Enterprises
  • Bhavna Traders
  • Hosur Packaging
  • H. T. Porwal and Company
  • Integral Traders
  • Jagannath Uniforms
  • New pack Industries
  • Sterling Tapes Limited
  •  Vega Funmobiles Private Limited   

 

 

Customers :

  • Aditya Automobiles Spares Private Limited
  • Evergrren Enterprises
  • Pratul Automobiles Private Limited
  • Sherayu Two Wheeler Private Limited
  • Sujir Marketing Private Limited
  • Swastik Auto Accessories Private Limited
  • Vega Funmobiles Private Limited
  • Amba Automobiles
  • Deluxe Lining Works
  • Bike Zone
  • JSP Enterprises
  • Jyoti Enterprises
  • Nayak’s  Sales Corporation
  • Omega Auto Lining Industries
  • Pioneer Trading Company

 

 

No. of Employees :

250 (Approximately) (In Office + In Factory)

 

 

Bankers :

  • State Bank of India
  • Axis Bank
  • ICICI Bank

 

 

Facilities :

Secured Loan

As on

31.03.2010

(Rs. in

Millions)

As on

31.03.2009

(Rs. in

Millions)

State Bank of India

(Secured against Stocks and receivables, Movable, Immovable properties, personal guarantee of directors)

7.356

7.529

State Bank of India – Term Loan

(Secured Against Fixed assets)

1.967

3.216

State Bank of India – SME Credit Plus

(Secured Against Working capital Assets)

0.000

0.001

Axis Bank – Vehicle Loan

(Secured Against Swift VDI Car KA-25-P-1889)

0.314

0.459

ICICI Bank – Vehicle Loan

(Secured Against Santro GLS Car KA-22-P-0338)

0.342

0.000

Lokmanya Co-Operative Credit Society Limited

(Secured Against personal properties of directors)

0.000

1.361

Total

9.979

12.566

Unsecured Loan

As on

31.03.2010

(Rs. in

Millions)

As on

31.03.2009

(Rs. in

Millions)

Deposits from dealers

1.079

1.051

Premraj Zumbarlal Chandak

1.405

1.162

Dilip Premraj Chandak

4.647

0.550

Girdhari Premraj Chandak

9.397

2.049

Suhas Premraj Chandak

1.917

0.394

Uttam Premraj Chandak

3.300

0.732

Sangeeta Dilip Chandak

0.507

0.457

Alka Suhas Chandak

0.257

0.360

Swati Uttam Chandak

0.445

0.371

Shalini Girdhari Chandak

0.176

0.188

Kunal Dilip Chandak

0.134

0.160

Vega Funmobniles Private Limited

28.821

35.531

Vega Funmobiles Private Limited (A. D. Deposit)

1.590

1.661

Vega Aviation Products Private Limited

1.849

9.557

Leeladevi Premraj Chandak

0.061

0.000

Venkatesh Agencies

0.351

0.685

Total

55.936

54.908

 

 

 

Banking Relations :

--

 

 

Financial Institutions :

Lokmanya Co-Operative Credit Society Limited

 

 

Auditors :

 

Name :

Rajendra Sanjeev and Company

Chartered Accountants

Address :

1759, Kirloskar Road, Annapurna Complex, Belgaum – 590001, Karnataka, India

PAN.:

AAQPG0393J

Enterprise Where Key Management Personnel Significant influence :

  • Vega Funmobiles Private Limited
  • Vega Aviation Products Private Limited

 

 

CAPITAL STRUCTURE

 

As on 31.03.2010

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

50000

Equity Shares

Rs.100/- each

Rs.5.000 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

15000

Equity Shares

Rs.100/- each

Rs.1.500 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

1.500

1.500

1.500

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

8.708

7.927

7.689

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

10.208

9.427

9.189

LOAN FUNDS

 

 

 

1] Secured Loans

9.979

12.566

14.313

2] Unsecured Loans

55.936

54.908

57.032

TOTAL BORROWING

65.915

67.474

71.345

DEFERRED TAX LIABILITIES

0.308

0.280

0.288

 

 

 

 

TOTAL

76.431

77.181

80.822

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

29.100

22.274

22.186

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

0.071

0.021

0.021

DEFERREX TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories

43.939
61.203
66.504

 

Sundry Debtors

16.192
9.552
5.746

 

Cash & Bank Balances

2.307
1.186
8.474

 

Other Current Assets

0.000
0.000
0.000

 

Loans & Advances

17.994
15.800
10.620

Total Current Assets

80.432

87.741

91.344

Less : CURRENT LIABILITIES & PROVISIONS

 

 

 

 

Sundry Creditors

23.806
21.943
21.250

 

Other Current Liabilities

7.378
9.124
4.601

 

Provisions

1.988
1.788
6.878

Total Current Liabilities

33.172

32.855

32.729

Net Current Assets

47.260

54.886

58.615

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

76.431

77.181

80.822

 

 

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2010

31.03.2009

31.03.2008

 

SALES

 

 

 

 

 

Income

112.230

78.241

65.333

 

 

Other Income

3.137

1.092

0.099

 

 

TOTAL                                    

115.367

79.333

65.432

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Office Expenses

 

 

Administrative Expenses

 

 

 

 

 

Advertising Expenses

 

 

 

 

 

TOTAL                                    

110.439

75.079

55.521

 

 

 

 

 

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION                                  

4.928

4.254

9.911

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

3.836

3.714

3.742

 

 

 

 

 

 

PROFIT BEFORE TAX

1.092

0.540

6.169

 

 

 

 

 

Less

TAX                                                                 

0.311

0.302

0.639

 

 

 

 

 

 

PROFIT AFTER TAX

0.781

0.238

5.530

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

18.874

24.223

0.000

 

TOTAL EARNINGS

18.874

24.223

0.000

 

 

 

 

 

 

Earnings Per Share (Rs.)

52.07

15.87

368.67

 

 

 

Particulars

 

 

 

31.03.2011

Sales Turnover (Approximately)

 

 

115.000

 

Expected Sales (2011-2012) : Above Rs.120.000 Millions

 

The above information has been parted by Mr.Sachin.

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2010

31.03.2009

31.03.2008

PAT / Total Income

(%)

0.68

0.30

8.45

 

 

 

 

 

Net Profit Margin

(PBT/Sales)

(%)

0.97

0.69

9.44

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

1.00

0.49

5.43

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.11

0.06

0.67

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

    9.71

10.64

11.33

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

2.42

2.67

2.79

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Check List by Info Agents

Available in Report (Yes / No)

1) Year of Establishment

YES

2) Locality of the firm

YES

3) Constitutions 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 for last three years

YES

12) Profitability for last three years

NO

13) Reasons for variation <> 20%

NO

14) Estimation for coming financial year

YES

15) Capital in the business

YES

16) Details of sister concerns

YES

17) Major suppliers

YES

18) Major customers

YES

19) Payments terms

YES

20) Export / Import details (if applicable)

YES

21) Market information

--

22) Litigations that the firm / promoter

--

23) Banking Details

YES

24) Banking facility details

YES

25) Conduct of the banking account

--

26) Buyer visit details

--

27) Financials, if provided

NO

28) Incorporation details, if applicable

--

29) Last accounts filed at ROC

--

30) Major Shareholders, if available

--

FORM 8:

 

Corporate identity number of the company

U35999KA1982PTC004792

Name of the company

VEGA AUTO ACCESSORIES PRIVATE LIMITED

Address of the registered office or of the principal place of  business in India of the company

#543, Vithaldev Lane, Shahapurbelgaum, Karnataka, Belgaum – 590003, Karnataka India

E-Mail : vega@vegaauto.com

This form is for

Creation of charge

Type of charge

Movable property (not being pledge)

Particular of charge holder

HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India

E-Mail :

cpu-retailassetoperations.rocefiling@hdfcbank.com

Nature of instrument creating charge

 Hypothecation of vehicle Agreement Contract No.18487638

Date of instrument Creating the charge

31.03.2011

Amount secured by the charge

Rs.3.200 Millions

Brief of the principal terms an conditions and extent and operation of the charge

Rate of interest

Fixed interest rate 9.99% per annum.

 

Terms of repayment

Auto loan repayable in 36 equal monthly installments of Rs.103.250 Million per month

 

Margin

25%

 

Extent and operation of the charge

First and exclusive charge operates on Audi A6 car normally parked in the factory of the company at Plot No. 12B, Sy. No.342, BEMCIEL,Industrial estate, Udyambag, Belgaum - 590008.

Short particulars of the property or asset(s) charged (including complete address and location of the property)

Audi A6 car normally parked in the factory of the company at Plot No. 12B, Sy. No.342, BEMCIEL, Industrial estate, Udyambag, Belgaum-590008.

 

CONTINGENT LIABILITY: (As on 31.03.2010)

 

  • For the penalty of Rs.4.381 levied by the Income tax Department U/s.271(1) of the Income Tax Act, 1961 for the assessment year 2004-05 to 2006-07 against which company has paid rs.0.500 Millions during the year which is shown under loans and advances as Company has preferred appeal which is pending at ITAT Panjim.
  • Central Excise Department has conducted Survey on 04.03.2010 at the factory premises of the company. Stock worth Rs.1.739 Millions and two vehicles worth Rs.0.400 Million were seized. Company has executed B-11 bond on 29.03.2010 for Rs.2.139 Millions with bank guarantee of Rs.0.535 Million which has been accepted by the Assistant Commissioner of Central Excise, Belgaum and released the goods and vehicles. Company has paid Rs.0.050 Million on 09.03.2010 being provisional   duty for seized goods. The matter is still pending

 

 

TRADE REFERENCES:

 

  • Helmet Paradise, Bangalore
  • Balaji Helmet Palace, Bangalore
  • Mega Enterprise, Bangalore
  • Rainbow Lining Industries, Chennai
  • Pioneer Scooters – Chennai
  • Pioneer Trading, Chennai

 

 

FIXED ASSETS

 

·         Air Conditioners

·         Books

·         Land and Buildings

·         Computer System

·         Design and Artworks

·         Electrical Installation

·         Factory Equipments and Renovation

·         Furniture and Fixtures

·         Moulds and Dies

·         Office Equipments

·         Patterns

·         Plant and Machinery

·         Television 

·         Tools and Equipments

·         Vehicles


CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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

UK Pound

1

Rs.79.73

Euro

1

Rs.69.53

 


 

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

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

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

45

 

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

-

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.