MIRA
INFORM REPORT
|
Report Date : |
13.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
WPC PERSONAL CARE PRIVATE LIMITED (w.e.f. 18.07.2011) |
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|
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Formerly Known
As : |
WINSON PERFUMES AND COSMETICS PRIVATE LIMITED |
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Registered Office
: |
60/10, Ground Floor, Old Rajinder Nagar, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
07.07.2009 |
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Com. Reg. No.: |
55-191974 |
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Capital Investment
/ Paid-up Capital : |
Rs.0.100 million |
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CIN No.: [Company Identification
No.] |
U74999DL2009PTC191974 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Perfumes. |
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No. of Employees
: |
140 Approximately |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Maximum Credit Limit : |
USD 6400 |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a new company establishing itself gradually. The company
has achieved sizable turnover in it’s very first year of operation. Trade
relations are reported as fair. Business is active. Payment terms are
unknown. The company can be considered for business dealings with some caution.
|
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 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Sanjeev Nair |
|
Designation : |
Chief Executive Officer |
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Contact No.: |
91-9999191790 |
|
Date : |
09.09.2011 |
LOCATIONS
|
Registered Office : |
60/10, Ground Floor, Old Rajinder Nagar, |
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Tel. No.: |
91-11-43558331 |
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Mobile No.: |
91-9999191790 (Mr. Sanjeev Nair)
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Fax No.: |
91-11-25815566 |
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E-Mail : |
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Website : |
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Area : |
4000 Sq. ft. |
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Location : |
Owned |
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Corporate Office/Factory : |
3-88, Sector – 67, Noida – 201 307, |
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Tel. No.: |
91-120-2484401-03 |
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E-Mail : |
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Area : |
20000 Sq. ft. |
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Location : |
Rented |
DIRECTORS
As on 28.09.2010
|
Name : |
Mr. Umesh Gautam |
|
Designation : |
Director |
|
Address : |
B-186, Civil Lines, Opp. Head Post office, |
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Date of Birth/Age : |
30.06.1970 |
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Date of Appointment : |
28.09.2010 |
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DIN No.: |
01722129 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of appointment
at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U72200UP2006PTC031369 |
Invertis
Infotech India Private Limited |
Director |
14-02-06 |
14-02-06 |
Active |
NO |
|
2 |
U74999DL2009PTC191974 |
Wpc Personal
Care Private Limited |
Director |
28-09-10 |
01-06-10 |
Active |
NO |
|
Name : |
Mr. Sanjeev Gautam |
|
Designation : |
Director |
|
Address : |
51/6, Old Rajinder Nagar, |
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Date of Birth/Age : |
09.07.1975 |
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Date of Appointment : |
28.09.2010 |
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DIN No.: |
02204147 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U51909DL2003PTC121396 |
Winson Exports
Private Limited |
Director |
21-07-03 |
21-07-03 |
Active |
NO |
|
2 |
U72200UP2006PTC031369 |
Invertis
Infotech India Private Limited |
Director |
14-02-06 |
14-02-06 |
Active |
NO |
|
3 |
U74999DL2009PTC191974 |
WPC Personal
Care Private Limited |
Director |
28-09-10 |
26-08-09 |
Active |
NO |
|
Name : |
Mr. Kaushal Kishore Gautam |
|
Designation : |
Director |
|
Address : |
D-130, Sector – 36, Noida – 201 301, |
|
Date of Birth/Age : |
05.08.1946 |
|
DIN No.: |
02395491 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U74999DL2009PTC191974 |
WPC Personal
Care Private Limited |
Director |
07-07-09 |
07-07-09 |
Active |
NO |
|
Name : |
Mr. Ram Ratan Gautam |
|
Designation : |
Director |
|
Address : |
136, Maniram Vas-3, Koseekalan, Chhata, |
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Date of Birth/Age : |
01.01.1970 |
|
DIN No.: |
02698199 |
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 |
U74999DL2009PTC191974 |
WPC Personal
Care Private Limited |
Director |
07-07-09 |
07-07-09 |
10-02-10 |
Active |
NO |
|
2 |
U51909DL2003PTC121396 |
Winson Exports
Private Limited |
Director |
30-09-10 |
22-02-10 |
- |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Sanjeev Nair |
|
Designation : |
Chief Executive Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
List of Allotment (As on 07.07.2011)
|
Names of Allottees |
|
No. of Shares |
|
Radhika Gautam |
|
1500 |
|
Sonal Gautam |
|
1000 |
|
Pusplata Gautam |
|
1000 |
|
Umesh Gautam |
|
1000 |
|
Kavita Prabhakar) |
|
500 |
|
Total |
|
5000 |
List of Allotment (As on 09.02.2011)
|
Names of Allottees |
|
No. of Shares |
|
Kaushal Kishore Gautam |
|
215000 |
|
Sanjeev Gautam |
|
40000 |
|
Total |
|
255000 |
As on 28.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Perfumes. |
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Brand Names : |
WPC |
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Imports : |
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Products : |
Raw Material (Fragrance Compound) Bottles |
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Countries : |
·
·
·
·
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Terms : |
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Selling : |
Advance |
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Purchasing : |
TT |
GENERAL INFORMATION
|
Customers : |
·
Dealers ·
Distributors |
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No. of Employees : |
140 Approximately |
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Bankers : |
Punjab National Bank Sector – 1, Noida, Gautam Budh Nagar – 201 301, |
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Facilities : |
Total Facility enjoyed Rs.15.000 millions |
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Banking Relations
: |
-- |
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Auditors : |
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|
Name : |
SNRS and Associates Chartered Accountant |
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Address : |
413, Pratap Bhawan, 05, Bahadur Shah Zafar Marg, |
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Tel. No.: |
91-11-23730444 |
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Group Company : |
·
·
Winson Advantage and Managing, Noida Line
of Business : Manufacturer of Water Purifier. ·
Winson Exports Private Limited, Line
of Business : Merchant Exporter |
CAPITAL STRUCTURE
As on 28.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
270000 |
Equity Shares |
Rs.10/- each |
Rs.2.700
millions |
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
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|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.100 |
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|
2] Share Application Money |
|
|
1.500 |
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3] Reserves & Surplus |
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|
0.000 |
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4] (Accumulated Losses) |
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|
0.000 |
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NETWORTH |
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|
1.600 |
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LOAN FUNDS |
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|
1] Secured Loans |
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|
0.000 |
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2] Unsecured Loans |
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|
2.908 |
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TOTAL BORROWING |
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2.908 |
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DEFERRED TAX LIABILITIES |
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|
0.000 |
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TOTAL |
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4.508 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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|
0.000 |
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Capital work-in-progress |
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|
2.784 |
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Pre-Operative Expenses |
|
|
0.539 |
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INVESTMENT |
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|
0.000 |
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DEFERREX TAX ASSETS |
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|
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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|
0.000 |
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Sundry Debtors |
|
|
0.000 |
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Cash & Bank Balances |
|
|
0.140 |
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Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
1.511 |
|
Total
Current Assets |
|
|
1.651 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
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Sundry Creditors |
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Other Current Liabilities |
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|
|
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
0.645 |
|
|
Net Current Assets |
|
|
1.006 |
|
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MISCELLANEOUS EXPENSES |
|
|
0.179 |
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|
|
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|
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TOTAL |
|
|
4.508 |
|
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2010 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
|
2.22 |
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Current Ratio (Current Asset/Current Liability) |
|
|
|
2.56 |
LOCAL AGENCY FURTHER INFORMATION
TRADE REFERENCES
·
Utility Print Pack Private Limited, Ahmedabad –
Contact Person (Mr. Ginesh Mehta)
·
Aptar Beauty and Home India Private Limited, Baddi,
Himachal Pradesh
BUSINESS
OPERATIONS
The Company is in process of setting up Fully Automatic Plant for
bottling the perfumes and expected to start the operations by the end of
September, 2010.
FORM 8
|
Corporate identity number of the company |
U74999DL2009PTC191974 |
|
Name of the company |
WINSON PERFUMES AND COSMETICS PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in |
60/10, Ground Floor, Old Rajinder Nagar, |
|
This form is for |
Creation of charge |
|
Type of charge |
·
Book debts ·
Movable property (not being pledge) ·
Others o
Fixed and Block Assets |
|
Particular of charge holder |
Punjab National Bank Sector – 1, Noida, Gautam Budh Nagar – 201 301, |
|
Nature of instrument creating charge |
(i) Hypothecation of goods and book debts to secure cash credit
facility (ii) Hypothecation of movable assets forming part of fixed/block
assets. |
|
Date of instrument Creating the charge |
24.05.2010 |
|
Amount secured by the charge |
Rs.7.000 millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest Interest to be charged @ 1.50% above BPLR presently 12.50% per annum with monthly
rests or at such other Rate (s) as may be notified by the Bank to the Borrower from time to
time. Terms of Repayment Working Capital-Repayable on demand Margin 25% Extent and Operation of the charge The Company's assets are hypothecated to secure Cash Credit limit of
Rs.7.000 millions granted by the Bank to the Borrower. |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
·
Hypothecation of entire current assets present
and future including stocks of raw materials, work in process, finished
goods, consumable stores and spares etc. lying at the Borrower's godown at
Noida or elsewhere. ·
Hypothecation of all the Borrower present and
future book debts, outstanding decrees, money receivables, claims, bills,
securities, investment and rights. ·
Hypothecation of all movable assets forming part
of fixed/block assets, plant and machinery etc. of the Borrower (both present
and future). |
WEB DETAILS
Profile
Subject Is an
Indian subsidiary of WPC PLC 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 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.46.97 |
|
|
1 |
Rs.74.22 |
|
Euro |
1 |
Rs.63.66 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--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 |
|
26 |
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.