MIRA
INFORM REPORT
|
Report Date : |
09.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
RITHWIK PROJECTS PRIVATE LIMITED (w.e.f. 18.02.2009) |
|
|
|
|
Formerly Known
As : |
RITHWIK PROJECTS LIMITED |
|
|
|
|
Registered
Office : |
# 8-2-268/K/37 and 39, Plot No. 37 and 39, Navodaya Colony, Banjara Hills,
Road No. 2, Hyderabad – 500 034, Andhra Pradesh |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
31.03.1999 |
|
|
|
|
Com. Reg. No.: |
01-31431 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.155.263 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45200AP1999PTC031431 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDR00988B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCR5748L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company is primarily engaged in civil and engineering
construction, and it has executed several construction projects such as canals,
reservoirs, dams, tunnels, bridges, highways and housing colonies. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 10000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having fine track. Financial
position of the company appears to be sound. Trade relations are reported as fair.
Business is active. Payments are reported to be regular and as per
commitments. The company can be considered for good for normal business dealings at
usual trade terms and conditions. Profit and Loss account fore the year 2009-10 is not available. |
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 |
LOCATIONS
|
Registered/Corporate Office : |
# 8-2-268/K/37 and 39, Plot No. 37 and 39, Navodaya Colony, Banjara
Hills, Road No. 2, Hyderabad – 500 034, Andhra Pradesh, India |
|
Tel. No.: |
91-40-49113333 / 23552555 |
|
Fax No.: |
91-40-49113444 / 23552444 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office : |
Located at ·
·
Bhubaneshwar ·
|
DIRECTORS
As on 31.12.2010
|
Name : |
Mr. C M Ramesh |
|
Designation : |
Chairman and Managing Director |
|
Address : |
Plot No. 1295, Road No. 63, Jubilee Hills, |
|
Date of Birth/Age : |
12.06.1965 |
|
Date of Appointment : |
31.03.1999 |
|
DIN No. : |
00016026 |
|
|
|
|
Name : |
Mr. C M Rajesh |
|
Designation : |
Whole Time Director |
|
Address : |
Plot No. 1295, Road No. 63, Jubilee Hills, |
|
Date of Birth/Age : |
08.04.1976 |
|
Date of Appointment : |
31.03.1999 |
|
DIN No. : |
00015993 |
|
|
|
|
Name : |
Mr. Kuljit Singh Narula |
|
Designation : |
Director |
|
Address : |
258, Sector 33A, |
|
Date of Birth/Age : |
19.11.1940 |
|
Date of Appointment : |
19.08.2003 |
|
|
|
|
Name : |
Mr. Tejas Lumar Kodali |
|
Designation : |
Director |
|
Address : |
1226, Road No. 62A, Jubilee Hills, |
|
Date of Birth/Age : |
22.04.1971 |
|
Date of Appointment : |
13.03.2006 |
|
|
|
|
Name : |
Mr. Venkateswara Rao |
|
Designation : |
Director |
|
Address : |
99, Road No. 10C, HLA and MD Colony, Jubilee Hills, |
|
Date of Birth/Age : |
14.04.1971 |
|
Date of Appointment : |
13.03.2006 |
|
|
|
|
Name : |
Mr. Purushotam Kalakala |
|
Designation : |
Director |
|
Address : |
301, Srinilayam, Sunder Nagar, Errayadda, |
|
Date of Birth/Age : |
05.07.1946 |
|
Date of Appointment : |
04.06.2007 |
|
|
|
|
Name : |
Mr. Jimmy W Mahatani |
|
Designation : |
Director |
|
Address : |
14 Leonie Hill, Road No. 22-14, Futura Apartments, |
|
Date of Birth/Age : |
27.10.1976 |
|
Date of Appointment : |
26.03.2008 |
|
|
|
|
Name : |
Mr. Chander Sheel Bansal |
|
Designation : |
Whole Time Director |
|
Address : |
D-3 Trends Etvantage, Road No. 14, Banjara Hills, |
|
Date of Birth/Age : |
03.08.1958 |
|
Date of Appointment : |
30.09.2010 |
|
|
|
|
Name : |
Mr. C M Prakas |
|
Designation : |
Whole Time Director |
|
|
|
|
Name : |
Mr. Koneru Vankata Balagopal |
|
Designation : |
Director |
|
Date of Appointment : |
10.02.2003 |
KEY EXECUTIVES
|
Name : |
Mr. Gade Vinay Babu |
|
Designation : |
Secretary |
|
Address : |
7-2-593, M M thota, Karimmagar – 505 258, |
|
Date of Birth/Age : |
30.11.1980 |
|
Date of Appointment : |
01.06.2007 |
|
PAN No.: |
ALTPG3858Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
7.90 |
|
Directors
or relatives of directors |
|
92.10 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is primarily engaged in civil and engineering
construction, and it has executed several construction projects such as canals,
reservoirs, dams, tunnels, bridges, highways and housing colonies. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
Indusind Bank Limited ·
Indian Overseas Bank |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Walker Chandiok and Company Chartered Accountant |
|
Address : |
3274/A, 11th Main, Hal Second Stage, Indiranagar, |
|
|
|
|
Subsidiaries : |
·
Kumaradhara Power Private Limited CIN No.: U40108KA2008PTC046337 ·
Rithwik Properties Private Limited CIN No.: U45200AP2008PTC059805 ·
Rithwik International Projects Private Limited |
|
|
|
|
Joint Venture : |
·
Maytas Rithwik Joint Venture ·
Ratna Rithwik Joint Venture ·
Rithwik Swapna Joint Venture |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15530000 |
Equity Shares |
Rs.10/- each |
Rs.155.300 millions |
|
4470000 |
Participatory, Compulsorily, Convertible, Cumulative Preference Shares
|
Rs.10/- each |
Rs.44.700 millions |
|
|
Total |
|
Rs.200.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
11800000 |
Equity Shares |
Rs.10/- each |
Rs.118.000
millions |
|
3726316 |
Participatory, Compulsorily, Convertible, Cumulative Preference Shares |
Rs.10/- each |
Rs.37.263
millions |
|
|
Total |
|
Rs.155.263 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 |
155.263 |
155.263 |
155.263 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2410.415 |
2011.914 |
1673.748 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2565.678 |
2167.177 |
1829.011 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1306.936 |
964.861 |
452.668 |
|
|
2] Unsecured Loans |
1086.678 |
972.532 |
490.915 |
|
|
TOTAL BORROWING |
2393.614 |
1937.393 |
943.583 |
|
|
DEFERRED TAX LIABILITIES |
257.037 |
47.033 |
40.949 |
|
|
|
|
|
|
|
|
TOTAL |
5216.329 |
4151.603 |
2813.543 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1007.019 |
1106.427 |
987.761 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
196.233 |
60.069 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
677.021
|
457.847 |
232.811 |
|
|
Sundry Debtors |
1321.057
|
1199.037 |
661.702 |
|
|
Cash & Bank Balances |
328.534
|
309.821 |
796.003 |
|
|
Other Current Assets |
1704.251
|
1209.172 |
497.736 |
|
|
Loans & Advances |
604.295
|
573.955 |
209.432 |
|
Total
Current Assets |
4635.158
|
3749.832 |
2397.684 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
534.190
|
541.304 |
|
|
|
Other Current Liabilities |
0.000
|
23.362 |
|
|
|
Provisions |
87.891
|
200.059 |
80.023 |
|
Total
Current Liabilities |
622.081
|
764.725 |
571.902 |
|
|
Net Current Assets |
4013.077
|
2985.107 |
1825.782 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
5216.329 |
4151.603 |
2813.543 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Contract revenues |
|
4881.518 |
3502.809 |
|
|
|
Other Income |
|
26.056 |
18.790 |
|
|
|
TOTAL (A) |
|
4907.574 |
3521.599 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Materials Consumed |
|
851.299 |
394.001 |
|
|
|
Increase in stocks |
|
(12.347) |
0.000 |
|
|
|
Other contract Expenses |
|
2942.827 |
2404.768 |
|
|
|
Personnel Expenses |
|
79.575 |
63.187 |
|
|
|
General and Administrative Expenses |
|
84.205 |
82.608 |
|
|
|
TOTAL (B) |
|
3945.559 |
2944.564 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
962.015 |
577.035 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST
FINANCIAL CHARGES (D) |
|
217.255 |
166.733 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
744.760 |
410.302 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
176.407 |
121.705 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
568.353 |
288.597 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
217.553 |
103.926 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
350.800 |
184.671 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
41.075 |
1.404 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
|
50.000 |
145.000 |
|
|
BALANCE CARRIED
TO THE B/S |
|
341.875 |
41.075 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
-- |
29.73 |
15.65 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
NA
|
7.15 |
5.24 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
11.64 |
8.24 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
11.70 |
8.52 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.26 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.18
|
1.25 |
0.83 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
7.45
|
4.90 |
4.19 |
LOCAL AGENCY FURTHER INFORMATION
BACKGROUND
The Company was
incorporated in accordance with the provisions of the Companies Act, 1956
("the Act"). The Company is primarily engaged in civil and
engineering construction, and it has executed several construction projects
such as canals, reservoirs, dams, tunnels, bridges, highways and housing
colonies. The Company was originally incorporated as a public limited company
and it was converted into a private limited company on 18 February 2009.
CONTINGENT
LIABILITIES
|
Particulars |
As
on 31.03.2010 Rs.
in millions |
As
on 31.03.2009 Rs.
in millions |
|
Claims against
the Company not acknowledged as debts - |
|
|
|
Demand for payment
of additional sales tax in the state of Andhra Pradesh, disputed by the
Company (Appeal pending
in Sales Tax Tribunal) |
6.416 |
6.416 |
|
Demand for
payment of penalty against service tax in the state of
Orissa, disputed by the Company (Appeal pending
before Serves Tax Tribunal, Kolkata |
1.971 |
-- |
FORM 8
|
Corporate identity number of the company |
U45200AP1999PTC031431 |
|
Name of the company |
RITHWIK PROJECTS PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in |
# 8-2-268/K/37 and 39, Plot No. 37 and 39, Navodaya Colony, Banjara
Hills, Road No. 2, Hyderabad – 500 034, Andhra Pradesh, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Immovable property |
|
Particular of charge holder |
Indusind Bank Limited |
|
Nature of instrument creating charge |
Memorandum of deposit of title deeds |
|
Date of instrument Creating the charge |
14.06.2011 |
|
Amount secured by the charge |
Rs.350.000 millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest Base rate + 2.5% presently 12.25% Terms of Repayment The loan is repayable in 8 equal instalments over 2 years, starting
from the end of 15th month from the date of first disbursement Margin Nil Extent and Operation of the charge Operates as a exclusive first charge by way of hypothecation/ mortgage
of unencumbered movable and immovable fixed assets of the company amounting
to Rs.500.000 millions |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
Exclusive first charge by way of hypothecation/mortgage of
unencumbered movable and immovable fixed assets of the company amounting to
Rs.500.000 millions. it will include residential house of 1439 sq.yds Located at Jubilee Hills Co-operative Housing Society, Jubilee Hills, |
FIXED ASSETS
·
·
Temporary Erections
·
Construction Equipments
·
Office Equipments
·
Computers
·
Furniture and Fixtures
·
Vehicles
WEB DETAILS
The RPPL Group comprises the flagship company subject, and its
subsidiaries North East Power Projects Private Limited, Kumaradhara Power
Private Limited, Rithwik Green Power Private Limited and Rithwik Properties
Private Limited. These subsidiaries pursue region and sector specific business
opportunities across
Subject (formerly Rithwik Projects Limited) is a Construction and
infrastructure development company. Established in 1999 in
Mr. CM Ramesh is Chairman and Managing Director of company. He
comes from a business family in Kadapa district of Andhra Pradesh. Mr. Ramesh's
entrepreneurial success within a decade is highly impressive. An Arts graduate
with a sharp insight into national infrastructure requirements, Mr. Ramesh has
nearly two decades of experience in identifying and developing challenging
infrastructure projects across
Operating efficiently from a widespread network of corporate and project
offices across the country, Mr. Ramesh presents the picture of a cutting edge
entrepreneur endowed with exemplary vision, leadership, resource mobilization,
and project management skills.
Mr. CM Rajesh is Executive Director of company. He plays a key
role in planning, resource mobilization and day-to-day operational management
of the company. A commerce graduate, Mr. Rajesh takes particular interest in
identifying and introducing best practices in all activities of the company. He
has rich on-site experience of developing excellent hydropower projects right
from the concept to
completion stage. Much like Mr. CM Ramesh, the Chairman and Managing Director
of the company, Mr. Rajesh has great resource mobilization strength.
Mr. Chander Sheel Bansal is Director and
CEO of the company. He brings to subject three decades of rich domestic and
international work experience at leadership levels in a variety of
infrastructure businesses. Mr. Bansal’s experience in exploring and
implementing business opportunities in Highways, Railways, Ports, Airports as
well as Oil and Gas projects is particularly significant. Before joining
company, Mr Bansal had served as Director and President in Maytas Infra Limited
overseeing Transportation, Oil and Gas, Buildings and Corporate Affairs
departments. Prior to Maytas, Mr. Bansal’s stints include as Board Member and
CEO of Easa Saleh Al Gurg Group, Alstom Projects (India) Limited, Usha Beltron
Limited, Usha Martin Industries Limited, Indian Aluminium Co. Limited,
(INDAL),and Tata Engineering and Locomotive Co. Limited (TELCO).
Mr. Bansal has
excellent academic record. He was a rank holder in Mechanical Engineering from
Delhi College of Engineering,
With Mr. Bansal at
the helm, Subject is poised to grow at an exhilarating pace.
KEY PERSONS
Mr. B.V Radhakrishna, CFO, Bachelor’s degree in Commerce and is a
Chartered Accountant by profession. He has more than two decades of rich
experience across the spectrum of finance, taxation and accounts. He joined
RPPL in March 2004. Before joining RPPL he was employed with Karvy and Co. and
Crompton Greaves.
Mr. T Shyam Sunder Rao has been with subject since year 2004 as Chief
Technical Officer. He advises on Irrigation Projects and Business Development.
He has 38 years of rich experience in minor, medium and major Irrigation
projects. Before joining RPPL, he worked with Govt. of A.P. on Special Duty in
Irrigation and CAD department; He is a member of Institution Engineers also a
chartered engineer.
Mr. C.R Venkatesha Consultant, for Contract Management and
Monitoring. Mr. Venkatesha has Master’s Degree of Engineering in Structures
from Indian Institute of science,
Mr.Deepak Agrawal, Head, Transportation, Joined subject in the Year
2009. A civil engineer, he is a member of Indian Road Congress Project
Management Institute (PMI),
Mr. Krishnamoorthy. M, Head-Hydro
Power,
Mr.Venkata Govinda Rajulu, Head-Plant and Machinery,
B.Tech-Mechanical from S.V.University, Tirupathi and having extensive
experience in the field of Machinery handling. Before he joined with them he
worked for Punj Lloyd Limited,
Wing Commander RSR Murty Head – HR, with
24 yrs of rich experience as a Permanent Commissioned Officer in Indian Air
Force, after which he took voluntary retirement and joined the corporate world.
He brings with him strict discipline at work, wealth of knowledge and
experience gained from highly process driven systems and methods imparted by
Defense Services. He is a Post Graduate in Commerce, and a Management Graduate
in Finance from
Mr. Himansu Sekhar Rauth, Head - Renewable Energy,
Mrs. Madhavi Bangalore, Sr. General
Manager - Finance and Accounts, Corporate Office, Hyderabad, B.Com from Osmania
University and FCA from ICA of India. She has over 14+ years of comprehensive
experience in Finance and Taxation across diverse Industries such as
Infrastructure, Manufacturing and Fertilizers and Chemicals. Before joining she
was with BSCPL Infrastructure Limited,
Mr. K Nisar Ahamed, GM –
Estimations, Corporate Office, Hyderabad, B.E. (Civil) from Osmania University,
Hyderabad and M. Tech (Structural Engineering) from JNT University, Hyderabad.
He has over 22 years of rich experience in Estimation and Tendering, Contract
Management, Claims and Arbitration and Project Management and Execution. Before
joining he was working with Lanco Infratech Limited at Gurgoan as DGM
Mr. N Siva Kumar,, GM – SCM, Corporate Office,
Mr.S.R Murthy, DGM-HSE TQM and
BPM. Diploma in Mechanical Engineering and BS (Engineering Technology) with 23
Years of rich experience in HSE. Before joining he was working with Maytas
Infra Limited.
Mr. P Narsimha Reddy, AGM – IT, He is
a B.E (CS and E), with 14+ years of rich experience in IT, before joining he
worked with Indu Projects Limited.
Mr. Tappetla Ravi
Mr. C Vinay Babu is Company Secretary of subject. An Associate
Company Secretary, and an Graduate of Law, Mr Babu joined company in Year 2007.
Before moving over to subject Mr. Babu was with D. Hanumanta Raju Co. Mr Babu
is in charge of Secretarial and Company Law matters in company.
Col. R.P Singh, Project –
Director, Rimuli Roxy, Orissa, Graduate in Civil Engineering from IIT
Mr. T Neelakanta Reddy, GM at Corporate
Office,
Col. Rajeev Kumar Bhatnagar, Project
Director, KRCL Bridge Project, Reasi, J and K, B.E. (Civil) from IIT Roorkee
and M.Sc (Def. and Strategic Studies) from Madras University. He has over 27
years of rich experience in civil engineering. Before joining he was with
Feedback Ventures Private Limited.
Mr. Amrik Singh Sandhu, Project Director, DGMAP, Udhampur, Diploma in
Civil Engineering from Ramgarhia Polytechnic College, Phagwara, Punjab. He has
over 24 years of rich experience in Project Management and Civil Engineering
works. Before joining he was working with Ahluwalia Contracts (
Mr. Atul Kumar Shrivastava , Project Manager, ILFS Boarder Check Post –
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.46.18 |
|
|
1 |
Rs.73.65 |
|
Euro |
1 |
Rs.64.95 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
64 |
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.