%20LIMITED%20-%20153456%2008-Sep-2011_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
|
Report Date : |
08.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
FIBERWEB (INDIA) LIMITED [w.e.f 18.01.2007] |
|
|
|
|
Formerly Known
As : |
P.V.D.PLAST MOULD INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
92/93-B, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
22.10.1985 |
|
|
|
|
Com. Reg. No.: |
56-004694 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.109.930
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L25209DD1985PLC004694 |
|
|
|
|
Legal Form : |
Public Limited Liability Company. The company’s shares are listed on the
Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer of Waste-bags and Spun-bonded Non-woven Polypropylene
Fabrics. |
|
|
|
|
No. of Employees
: |
More than 100 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
C (9) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
Sick Unit |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
-- |
|
|
|
|
Comments : |
The company has been declared as a sick unit by the Board for
Industrial and Financial Reconstruction (BIFR). Payments are reported to
slow. Initially, the company can be considered for business dealings on a
safe and secured 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 – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Vinay |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-24082689 |
LOCATIONS
|
Registered Office / Factory: |
92/93-B, |
|
Tel. No.: |
91-260-2220766/2220458/2221458/2221858 |
|
Fax No.: |
91-260-2220758 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
Owned |
|
|
|
|
Marketing Office : |
Kiran, Ground Floor, 128, |
|
Tel. No.: |
91-22-24044855/24044876/24082689/24082690 |
|
Fax No.: |
91-22-24044853 |
|
E-Mail : |
DIRECTORS
As on 29.09.2010
|
Name : |
Mr. Pravin Vrajlal Sheth |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
Kiran, |
|
Date of Birth/Age : |
19.08.1939 |
|
Date of Appointment : |
26.09.1997 |
|
Pan No.: |
AAHPS7949D |
|
Din No.: |
00138797 |
|
|
|
|
Name : |
Mr. Bhavesh Pravin Sheth |
|
Designation : |
Director |
|
Address : |
300 W, St |
|
Date of Birth/Age : |
24.10.1963 |
|
Date of Appointment : |
04.02.2010 |
|
Din No.: |
02862487 |
|
|
|
|
Name : |
Mr. Bhadresh Hasmukh Shah |
|
Designation : |
Director |
|
Address : |
Smitam, Amrakunj Society, |
|
Date of Birth/Age : |
17.09.1953 |
|
Date of Appointment : |
07.01.1997 |
|
Pan No.: |
AHWPS2684R |
|
Din No.: |
00629457 |
|
|
|
|
Name : |
Mr. J.B. Patel |
|
Designation : |
Director |
|
Address : |
42, Pollard Hill North, |
|
Date of Birth/Age : |
07.03.1948 |
|
Date of Appointment : |
26.09.1997 |
|
|
|
|
Name : |
Mr. Ravindran Gopalan |
|
Designation : |
Executive Director |
|
Address : |
Plot No. 80, GIDC, |
|
Date of Birth/Age : |
23.02.1952 |
|
Date of Appointment : |
15.10.1991 |
|
Pan No.: |
ABNPR3837N |
|
Din No.: |
00137551 |
|
|
|
|
Name : |
Mr. Krishnan Pazambalacode Subramania Iyer |
|
Designation : |
Executive Director |
|
Address : |
32 Arpan Apartments, Vile Parle (E), Mumbai-400056, |
|
Date of Birth/Age : |
01.06.1935 |
|
Date of Appointment : |
31.07.1999 |
|
Pan No.: |
AANPK5393B |
|
Din No.: |
00136968 |
|
|
|
|
Name : |
Mr. Janak Rameshchandra Patel |
|
Designation : |
Director |
|
Address : |
B-602, |
|
Date of Birth/Age : |
25.09.1950 |
|
Date of Appointment : |
31.10.2005 |
|
Pan No.: |
AA2PP0620N |
|
Din No.: |
01660312 |
|
|
|
|
Name : |
Mr. Dilip Vipinchandra Naik |
|
Designation : |
Director |
|
Address : |
F 64, Mangal Darshan Society, Chanakyapuri, Char Rasta, New |
|
Date of Birth/Age : |
20.11.1948 |
|
Date of Appointment : |
12.03.2007 |
|
Pan No.: |
ABAPN5036C |
|
Din No.: |
01374015 |
|
|
|
|
Name : |
Mr. Gopalji Motiram Rana |
|
Designation : |
Director |
|
Address : |
7302, |
|
Date of Birth/Age : |
24.06.1942 |
|
Date of Appointment : |
11.08.1995 |
|
Din No.: |
01982997 |
|
|
|
|
Name : |
Mr. Chidambar Arvind Rege |
|
Designation : |
Director |
|
Address : |
104/Blue Pearl CHS, Chincholi Bunder, |
|
Date of Birth/Age : |
30.11.1964 |
|
Date of Appointment : |
30.04.2009 |
|
Pan No.: |
AAHPR5007M |
|
Din No.: |
01707700 |
KEY EXECUTIVES
|
Name : |
Mr. Vinay |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2011
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
2,432,823 |
22.13 |
|
|
2,632,226 |
23.94 |
|
|
5,065,049 |
46.07 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
5,065,049 |
46.07 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
45,080 |
0.41 |
|
|
891 |
0.01 |
|
|
500,000 |
4.55 |
|
|
40,220 |
0.37 |
|
|
586,191 |
5.33 |
|
|
|
|
|
|
689,958 |
6.28 |
|
|
|
|
|
|
2,973,242 |
27.05 |
|
|
1,546,151 |
14.06 |
|
|
132,502 |
1.21 |
|
|
13,536 |
0.12 |
|
|
118,966 |
1.08 |
|
|
5,341,853 |
48.59 |
|
Total Public shareholding (B) |
5,928,044 |
53.93 |
|
Total (A)+(B) |
10,993,093 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
- |
- |
|
|
- |
- |
|
|
- |
- |
|
|
- |
- |
|
Total (A)+(B)+(C) |
10,993,093 |
- |
%20LIMITED%20-%20153456%2008-Sep-2011_files/image004.gif){kind=small}
(1) Indian%20LIMITED%20-%20153456%2008-Sep-2011_files/image005.gif){kind=small}
Individuals / Hindu Undivided Family%20LIMITED%20-%20153456%2008-Sep-2011_files/image006.gif){kind=small}
Individual shareholders holding nominal
share capital up to Rs. 1 lakhSHAREHOLDING BELONGING TO THE CATEGORY:
"PROMOTER AND
PROMOTER GROUP"
|
Name
of the Shareholder |
No. of Shares |
Percentage of
Holding |
|
Malti Sheth |
960 |
0.01 |
|
Pravin V Sheth |
1,885,651 |
17.15 |
|
Chemical and Alkali Distributors Limited |
953,899 |
8.68 |
|
Bharat Capital and Holdings Limited |
1,178,327 |
10.72 |
|
Bhavesh P Sheth |
527,580 |
4.80 |
|
Unnati Pravin Sheth |
6,148 |
0.06 |
|
P S Krishnan |
90 |
0.00 |
|
Anuradha Kantilal Sheth |
900 |
0.01 |
|
Anuradha Kantilal Sheth |
300 |
0.00 |
|
Anuradha Kantilal Sheth |
1,300 |
0.01 |
|
Anuradha Kantilal Sheth |
1,600 |
0.01 |
|
Gayatri Pipes and Fitting Private Limited |
500,000 |
4.55 |
|
G Ravindran |
2,220 |
0.02 |
|
Malti Anil Sheth |
1,000 |
0.01 |
|
Neha Pravin Sheth |
3,074 |
0.03 |
|
Rajendra Chhaganlal Shah |
1,400 |
0.01 |
|
Vijay Kantilal Sheth |
200 |
0.00 |
|
Vijay Kantilal Sheth |
400 |
0.00 |
|
Total |
5,065,049 |
46.07 |
SHAREHOLDING BELONGING TO THE CATEGORY
"PUBLIC"
AND HOLDING MORE THAN 1% OF THE TOTAL NO.OF SHARES
|
Name
of the Shareholder |
No. of Shares |
Percentage of
Holding |
|
Ispat Finance Limited |
123,100 |
1.12 |
|
Life Insurance Corporation of |
400,000 |
3.64 |
|
Ramniwas Madanlal Agarwal HUF |
322,590 |
2.93 |
|
Total |
845,690 |
7.69 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Waste-bags and Spun-bonded Non-woven Polypropylene
Fabrics. |
||||||||
|
|
|
||||||||
|
Products : |
|
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|
|
|
||||||||
|
Exports : |
|
||||||||
|
Products : |
Material |
||||||||
|
Countries : |
|
PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
|
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Blow Moulded and Roto Mouled |
VAPI, COB Licence |
In M.Ts. |
226 |
2000 |
-- |
|
Articles |
SIA Reg. |
In M.Ts. |
1336 |
2000 |
-- |
|
|
|
In M.Ts. |
3000 |
-- |
-- |
|
100% (E.O.U.) Garbage and carrier bags |
|
In M.Ts. |
2000 |
1500 |
-- |
|
100% (E.O.U.) Spunbond non-woven fabric |
|
In M.Ts. |
3000 |
4000 |
3185.883 |
|
Multi-layer Blown Films |
|
In M.Ts. |
4000 |
4000 |
33.037 |
GENERAL INFORMATION
|
Customers : |
OEM’s and Others |
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|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
More than 100 [Approximately] |
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
Dena Bank, Industrial Finance Branch, Cuffe Parade, Mumbai-400005, |
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial
Institution: |
Gayatri Pipes and
Fittings Private Limited, |
|
|
|
|
Auditors : |
|
|
Name : |
P M Turakhia and Company Chartered Accountant |
|
Address : |
102 Osia Friendship, |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Millions |
|
5000000 |
Preferences Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
|
Total |
|
Rs.200.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10993093 |
Equity Shares |
Rs.10/- each |
Rs.109.930
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 (12 Months) |
31.03.2009 (15 Months) |
31.12.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
109.930 |
109.930 |
109.930 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
157.551 |
157.551 |
157.553 |
|
|
4] (Accumulated Losses) |
(634.746) |
(638.760) |
(983.251) |
|
|
NETWORTH |
(367.265) |
(371.279) |
(715.768) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
88.865 |
91.365 |
320.839 |
|
|
2] Unsecured Loans |
850.921 |
849.621 |
771.986 |
|
|
TOTAL BORROWING |
939.786 |
940.986 |
1092.825 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
572.521 |
569.707 |
377.057 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
435.515 |
453.025 |
248.610 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.011 |
0.011 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
67.489
|
63.845 |
100.854 |
|
|
Sundry Debtors |
29.868
|
18.868 |
10.580 |
|
|
Cash & Bank Balances |
51.248
|
34.055 |
11.444 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
8.906
|
7.985 |
9.231 |
|
Total
Current Assets |
157.511
|
124.753 |
132.109 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
23.288
|
11.674 |
6.029 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
23.288
|
11.674 |
6.029 |
|
|
Net Current Assets |
134.223
|
113.079 |
126.080 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
2.772 |
3.592 |
2.367 |
|
|
|
|
|
|
|
|
TOTAL |
572.521 |
569.707 |
377.057 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 (12 Months) |
31.03.2009 (15 Months) |
31.12.2007 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
312.913 |
401.539 |
335.510 |
|
|
|
Other Income |
0.171 |
6.565 |
0.018 |
|
|
|
TOTAL (A) |
313.084 |
408.104 |
335.528 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption of Raw Materials |
206.434 |
301.718 |
234.679 |
|
|
|
Excise Duty |
11.149 |
14.258 |
14.397 |
|
|
|
Exchange Difference |
0.159 |
0.000 |
0.000 |
|
|
|
Employee’s Remuneration and Benefits |
18.708 |
22.009 |
16.429 |
|
|
|
Selling Expenses |
17.833 |
10.700 |
10.858 |
|
|
|
Other Expenses |
45.216 |
56.769 |
47.679 |
|
|
|
Miscellaneous Expenditure Written Off |
0.821 |
1.006 |
0.312 |
|
|
|
Fringe Benefit Tax |
0.000 |
0.323 |
0.344 |
|
|
|
Increase / (Decrease) in Stock |
(8.893) |
8.283 |
1.414 |
|
|
|
Extra Ordinary Items |
0.000 |
(385.326) |
503.657 |
|
|
|
TOTAL (B) |
291.427 |
29.740 |
829.769 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) © |
21.657 |
378.364 |
(494.241) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
3.502 |
3.432 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
21.657 |
374.862 |
(497.673) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
17.643 |
30.371 |
14.045 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
4.014 |
344.491 |
(511.718) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(638.760) |
(983.251) |
(471.533) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(634.746) |
(638.760) |
(983.251) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
190.866 |
236.228 |
198.683 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
193.566 |
259.639 |
218.472 |
|
|
|
Stores & Spares |
2.062 |
1.634 |
3.019 |
|
|
TOTAL IMPORTS |
195.628 |
261.273 |
221.491 |
|
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover [Approximately] |
|
|
400.000 |
The above information has been parted by Mr. Vinay.
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 (12 Months) |
31.03.2009 (15 Months) |
31.12.2007 |
|
Net Profit Margin (PBT/Sales) |
(%) |
1.28
|
85.79 |
(152.52) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.68
|
59.62 |
(134.41) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.01)
|
(0.93) |
0.71 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
(2.62)
|
(2.57) |
(1.54) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
6.76
|
10.69 |
21.91 |
LOCAL AGENCY FURTHER INFORMATION
NOTE: The
registered office of the company has been shifted from Ground Floor, Amee Co-Operative
Housing Society Limited, GIDC, Vapi Valsad-396195,
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2010 (12 Months) (Rs. in
Millions) |
31.03.2009 (15 Months) (Rs. in
Millions) |
31.12.2007 (Rs. in
Millions) |
|
Sundry Creditors |
|
|
|
|
For Goods |
16.062 |
5.250 |
1.291 |
|
For Expenses |
7.226 |
6.424 |
4.738 |
|
Total |
23.288 |
11.674 |
6.029 |
OPERATIONS:
During the 12 months period, April 2009 to March 2010, the Company
recorded a turnover of Rs.312.700 millions compared to Rs.401.500 millions
during the previous period of 15 months. The last 12 months period witnessed
deep economic recession in all the countries especially in the developed
countries where our products are widely exported. The regular activities of the
Company during this period resulted in a modest profit of Rs.4.011 millions.
The downward trend of the effects of economic recession has slowed down and it
is expected that the economies of the affected countries will improve in the
next six months. We are hopeful that with the consequent increase in demand the
activities of the Company will be profitable.
MANAGEMENT
DISCUSSION AND ANALYSIS
INDUSTRY-STRUCTURE
AND DEVELOPMENT:
The Company has been providing innovative and application focused
products to enhance value of its customers globally. The customers are from
Textile, Furnishing, Agriculture, Hygiene and personal care industries. The Company
markets several value added products, which are steadily gaining strength in
the overseas market through a net work of dealers and customers. We continue to
develop new and innovative products for various applications. The demand for
the products of the Company is dependent on the global market and economic
growth.
The year 2009-10 continued to be a year of high raw material prices, as
was the case for all petroleum based raw materials. The Company was not able to
pass on the burden of increase to the customers due to intense competition from
BUSINESS OUTLOOK:
The Company sees several opportunities for profitable growth in the
areas of value added products, and a growing demand both in the international and
domestic markets. The threats that the Company sees are from the Chinese
competition in the markets. However, strong quality product development and
marketing efforts have enabled the Company to stay ahead. The Company has also
improved its geographic presence by enlarging its position in Europe and the
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
L25209GJ1985PLC008208 |
|
Name of the
company |
FIBERWEB ( |
|
Address of the
registered office or of the principal place of business in |
Ground Floor, Amee Co-Operative Housing Society Limited,
GIDC, Vapi Valsad-396195, |
|
Type of charge |
Book Debts Movable Property
(not being pledge) Immovable Property
|
|
Particular of
charge holder |
Gayatri Pipes and
Fittings Private Limited, |
|
Email |
|
|
Nature of
description of the instrument creating or modifying the charge |
As per deed dated
04/02/2011 entered into between Uti and Gayatri Pipes and Fittings Private Limited |
|
Date of
instrument Creating the charge |
04.02.2011 |
|
Amount secured by
the charge |
Rs.1138.776
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest The rate of
interest charged is as per the applicable terms and conditions which are described
in more details in the deed dated 04/02/2011. Terms of
Repayment The terms of
repayment are as per the applicable terms and conditions which are described
in more details in the deed dated 04/02/2011. Extent and
Operation of the charge The extent and
operation of the charge is as per the applicable terms and conditions which
are described in more details in the deed dated 04/02/2011. |
|
Short particulars
of the property charged |
I)
First
charge on all immovable properties both present and future. First charge on
immovable property s. No. 92 - 93b at Kadaiya Village, Daman, U.T.
Admeasuring approx. 20600 sq. Meters with buildings and II)
Structures
thereon and plant and machinery in the said premises. III)
First
charge on all movable properties of the company including plant and machinery, spares, tools and accesories, stock of raw materials and finished goods lying in said premises and receivables. |
FIXED ASSETS:
- Office Premises Vapi
- Plant and Machinery
- Electric Installation
- Office Equipments
- Furniture and Fixtures
- Vehicles
- Computer
- Other Electrical Items
PRESS RELEASES:
Accord Fintech (
Accord Fintech (
Accord Fintech (
India, April 15 -- Fiberweb India Limited has informed BSE that the Company’s
registered office has been shifted from Amee Co-operative Housing Society
Limited ., Ground Floor, G.I.D.C., Vapi, Dist. Valsad 396 195, Gujarat state to
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 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.46.02 |
|
|
1 |
Rs.73.60 |
|
Euro |
1 |
Rs.64.77 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
1 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
- |
|
--LEVERAGE |
1~10 |
- |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
- |
|
--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 |
NO |
|
TOTAL |
|
9 |
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.