MIRA
INFORM REPORT
|
Report Date : |
14.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
MARVEL REALTORS AND DEVELOPERS LIMITED |
|
|
|
|
Registered
Office : |
Office No. 301-302, Jewel Tower, Survey No. 25/H, Lane No. 5, Koregaon
Park, Pune-411001, Maharashtra. |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
24.05.2006 |
|
|
|
|
Com. Reg. No.: |
25-128506 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 10.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U70102PN2006PLC128506 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEM11257B |
|
|
|
|
Legal Form : |
A closely held Public Limited Liability Company. |
|
|
|
|
Line of Business
: |
Developers of Residential and Commercial Property. |
|
|
|
|
No. of Employees
: |
5 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (15) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Profitability
of the company is under severe pressure. There appear huge accumulated losses
recorded by the company. However, trade relations are reported as fair.
Business is active. Payments are reported to be slow. The company can be considered for business dealings on a 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.
INFORMATION PARTED BY
|
Name : |
Mr. Mahesh |
|
Designation : |
Deputy Manager Accounts Finance |
|
Contact No.: |
91-9372343883 |
|
Date : |
13.09.2011 |
LOCATIONS
|
Registered Office : |
Office No. 301-302, Jewel Tower, Survey No. 25/H, Lane No. 5, Koregaon
Park, Pune-411001, Maharashtra, India. |
|
Tel. No.: |
91-20-26052920/26052921/32900573 |
|
Fax No.: |
91-20-66201389 |
|
E-Mail : |
|
|
Website : |
|
|
Area: |
10000 sq. ft. |
|
Location : |
Owned |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Nikhil Madhukar Bhave |
|
Designation : |
Director |
|
Address : |
A 10 Flat No. 6, Meera Nagar, |
|
Date of Birth/Age : |
10.01.1969 |
|
Date of Appointment : |
24.05.2006 |
|
DIN No.: |
00158171 |
|
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 |
U70102PN2006PLC128506 |
Marvel
Realtors And Developers Limited |
Director |
24-05-06 |
24-05-06 |
Active |
NO |
|
2 |
U74999MH2003PTC140056 |
Bioclean
Systems (India ) Private Limited |
Director |
30-09-10 |
25-03-10 |
Active |
NO |
|
Name : |
Mr. Vinay Mahavirprasad Chudiwal |
|
Designation : |
Director |
|
Address : |
Flat No. A 204, |
|
Date of Birth/Age : |
03.03.1971 |
|
Date of Appointment : |
24.05.2006 |
|
DIN No.: |
00158193 |
|
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 |
U70102PN2006PLC128506 |
Marvel
Realtors And Developers Limited |
Whole-time
director |
01-06-06 |
24-05-06 |
Active |
NO |
|
2 |
U45200PN2007PTC130439 |
Marvel
Promoters And Developers (Pune) Private Limited |
Director |
11-07-07 |
11-07-07 |
Active |
NO |
|
3 |
U45200PN2007PTC130565 |
Marvel
Landmarks Private Limited |
Director |
26-09-08 |
31-10-07 |
Active |
NO |
|
4 |
U70101PN2008PTC131638 |
Marveledge
Realtors Private Limited |
Director |
18-03-08 |
18-03-08 |
Active |
NO |
|
Name : |
Mr. Vishwajeet S. Jhavar |
|
Designation : |
Director |
|
Address : |
A 10 Flat No. 1, Meera Nagar, |
|
Date of Birth/Age : |
03.05.1971 |
|
Date of Appointment : |
24.05.2006 |
|
DIN No.: |
00158203 |
Other Directors:
|
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 |
U70102PN2006PLC128506 |
Marvel
Realtors And Developers Limited |
Director |
24-05-07 |
24-05-07 |
- |
Active |
NO |
|
2 |
U45200PN2007PTC130439 |
Marvel
Promoters And Developers (Pune) Private Limited |
Director |
11-07-07 |
11-07-07 |
- |
Active |
NO |
|
3 |
U33120MH2006PTC159383 |
Dimensions
Engineering Technologies Private Limited |
Director |
02-08-07 |
02-08-07 |
- |
Active |
NO |
|
4 |
U70102KA2007PTC043539 |
Epsillon
Real Estate Private Limited |
Director |
03-08-07 |
03-08-07 |
04-08-07 |
Active |
NO |
|
5 |
U45200PN2007PTC130565 |
Marvel
Landmarks Private Limited |
Director |
13-08-07 |
13-08-07 |
- |
Active |
NO |
|
6 |
U70101PN2008PTC131638 |
Marveledge
Realtors Private Limited |
Director |
18-03-08 |
18-03-08 |
- |
Active |
NO |
|
7 |
U70102PN2008PTC132054 |
Ratnamala
Properties Private Limited |
Director |
19-05-08 |
19-05-08 |
- |
Active |
|
|
8 |
U45200PN2010PTC136019 |
Windshield
Developers Private Limited |
Director |
06-04-10 |
06-04-10 |
11-05-10 |
Active |
NO |
|
9 |
U45200PN2010PTC136619 |
Marvel
Sigma Homes Private Limited |
Director |
18-06-10 |
18-06-10 |
- |
Active |
NO |
|
10 |
U45200PN2010PTC136620 |
Marvel
Omega Builders Private Limited |
Director |
18-06-10 |
18-06-10 |
- |
Active |
NO |
|
11 |
U45200PN2010PTC136621 |
Marvel
Zeta Developers Private Limited |
Director |
18-06-10 |
18-06-10 |
- |
Active |
NO |
|
12 |
U45200PN2010PTC136622 |
Marvel
Zeta Builders Private Limited |
Director |
18-06-10 |
18-06-10 |
23-04-11 |
Active |
NO |
|
13 |
U45209PN2010PTC137083 |
Kappa
Infra Ventures Private Limited |
Director |
10-08-10 |
10-08-10 |
- |
Active |
NO |
|
14 |
U45209PN2011PTC139787 |
Midas
Shelters Private Limited |
Director |
07-06-11 |
07-06-11 |
- |
Active |
NO |
|
15 |
U45209PN2011PTC139926 |
Marvel
Skyscrapers Private Limited |
Director |
20-06-11 |
20-06-11 |
- |
Active |
NO |
|
16 |
U45209PN2011PTC140613 |
Marvel
Dwellings Private Limited |
Director |
30-08-11 |
30-08-11 |
- |
Active |
NO |
|
17 |
U45209PN2011PTC140612 |
Marvel
Ultra Realtors And Developers (Pune) Private Limited |
Director |
30-08-11 |
30-08-11 |
- |
Active |
NO |
|
Name : |
Mr. Mahesh B Laddha |
|
Designation : |
Director |
|
Address : |
Flat No. 1, Novelty Co-Operative Housing Society, Behind Maruti Care
Point, Near Chatusrung, |
|
Date of Birth/Age : |
10.08.1965 |
|
Date of Appointment : |
24.05.2006 |
|
DIN No.: |
00158212 |
Other Directors:
|
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 |
U70102PN2006PLC128506 |
Marvel
Realtors And Developers Limited |
Whole-time
director |
01-06-06 |
24-05-06 |
- |
Active |
NO |
|
2 |
U45200PN2007PTC130439 |
Marvel
Promoters And Developers (Pune) Private Limited |
Director |
12-07-07 |
12-07-07 |
- |
Active |
NO |
|
3 |
U45200PN2007PTC130565 |
Marvel
Landmarks Private Limited |
Director |
13-08-07 |
13-08-07 |
- |
Active |
NO |
|
4 |
U45200PN2009PTC133748 |
Samyak
Gruhnirman Private Limited |
Director |
15-06-09 |
15-06-09 |
- |
Active |
NO |
|
5 |
U45200PN2010PTC136019 |
Windshield
Developers Private Limited |
Director |
06-04-10 |
06-04-10 |
11-05-10 |
Active |
NO |
|
6 |
U45200PN2010PTC136619 |
Marvel
Sigma Homes Private Limited |
Director |
18-06-10 |
18-06-10 |
- |
Active |
NO |
|
7 |
U45200PN2010PTC136620 |
Marvel
Omega Builders Private Limited |
Director |
18-06-10 |
18-06-10 |
- |
Active |
NO |
|
8 |
U45200PN2010PTC136621 |
Marvel
Zeta Developers Private Limited |
Director |
18-06-10 |
18-06-10 |
- |
Active |
NO |
|
9 |
U45200PN2010PTC136622 |
Marvel
Zeta Builders Private Limited |
Director |
18-06-10 |
18-06-10 |
23-04-11 |
Active |
NO |
|
10 |
U45209PN2010PTC137083 |
Kappa
Infra Ventures Private Limited |
Director |
10-08-10 |
10-08-10 |
- |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Mahesh |
|
Designation : |
Deputy Manager Accounts Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Vinay M Chudiwal |
112500 |
|
Mahesh B Laddha |
125000 |
|
Veena V Jhavar |
300000 |
|
Prithviraj P Solanke |
50000 |
|
Nikhil M Bhave |
100000 |
|
Mahantesh M Palaresha |
50000 |
|
Subhash |
50000 |
|
Sachin S Jhavar |
50000 |
|
Sachin S Bohara |
12500 |
|
Vishwajeet S Jhavar |
150000 |
|
Total |
1000000 |
AS ON
|
Category |
Percentage |
|
Directors or relatives of Directors |
88.75 |
|
Other top fifty shareholders |
11.25 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Developers of Residential and Commercial Property. |
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Products : |
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Imports : |
|
||||
|
Products : |
·
Tiles |
||||
|
Countries : |
·
Italy |
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|
|
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Terms : |
|
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|
Purchasing : |
L/C, Credit |
GENERAL INFORMATION
|
Customers : |
·
End Users |
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No. of Employees : |
5 (Approximately) |
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Bankers : |
Axis Bank Limited, 1262/B, |
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial
Institution: |
·
HDFC Asset Management Company Limited, 169, Ramon
House, Backbay Reclamation, Churchgate, Mumbai-400020, Maharashtra, India ·
Reliance Capital Limited, “H” Block, 1st
Floor, Dhirubhai Ambani Knowledge City, Koparkhairne, Navi Mumbai-400710,
Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
R.P Birla and Company Chartered Accountant |
|
Address : |
Flat No. 101, First Floor, Lotus Court, Pune Satara Road, Pune-411009,
Maharashtra, India. |
|
Tel. No.: |
91-20-24210709 |
|
|
|
|
The Company is a partner/member in the firm in
which it has controlling interest : |
·
Marvel Bharucha Realtors ·
Prithvi Marvel Developers ·
Ananya Enterprises |
|
|
|
|
Some of the Directors of the Company are Partners
in the firm in which the company is Partner: |
·
Marvel Relators |
|
|
|
|
Parties where control exists by virtue of common
directorships with whom transactions have taken place during the year. : |
·
Marvel Landmarks Private Limited |
CAPITAL STRUCTURE
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 |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 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 |
10.000 |
10.000 |
10.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
13.805 |
|
|
4] (Accumulated Losses) |
(70.525) |
(11.008) |
0.000 |
|
|
NETWORTH |
(60.525) |
(1.008) |
23.805 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
132.358 |
57.294 |
62.302 |
|
|
2] Unsecured Loans |
10.600 |
48.695 |
42.065 |
|
|
TOTAL BORROWING |
142.958 |
105.989 |
104.367 |
|
|
DEFERRED TAX LIABILITIES |
0.036 |
0.479 |
0.328 |
|
|
|
|
|
|
|
|
TOTAL |
82.469 |
105.460 |
128.500 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
76.903 |
76.103 |
63.897 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
(14.170) |
83.464 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
32.319
|
11.243
|
84.832 |
|
|
Sundry Debtors |
0.000
|
0.000
|
0.000 |
|
|
Cash & Bank Balances |
(18.270)
|
4.369
|
4.910 |
|
|
Other Current Assets |
1043.956
|
705.688
|
323.966 |
|
|
Loans & Advances |
81.527
|
38.677
|
22.908 |
|
Total
Current Assets |
1139.532
|
759.977 |
436.616 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
83.772
|
129.802
|
3.011 |
|
|
Other Current Liabilities |
1035.797
|
683.737
|
314.422 |
|
|
Provisions |
0.227
|
0.545
|
54.580 |
|
Total
Current Liabilities |
1119.796
|
814.084 |
372.013 |
|
|
Net Current Assets |
19.736
|
(54.107)
|
64.603 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
82.469 |
105.460 |
128.500 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Closing work in progress |
650.769 |
328.345 |
70.158 |
|
|
|
Other receipts |
4.940 |
5.444 |
9.982 |
|
|
|
TOTAL (A) |
655.709 |
333.789 |
80.140 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Site and infrastructure development expenses |
502.052 |
258.044 |
40.943 |
|
|
|
Advertising, marketing expenses and others direct cost |
6.576 |
9.126 |
7.870 |
|
|
|
Operating expenses |
149.900 |
58.576 |
6.932 |
|
|
|
Other cost and expenses |
51.022 |
22.308 |
6.337 |
|
|
|
TOTAL (B) |
709.550 |
348.054 |
62.082 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(53.841) |
(14.265) |
18.058 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(53.841) |
(14.265) |
18.058 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
6.118 |
5.321 |
3.214 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(59.959) |
(19.586) |
14.844 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
(0.442) |
0.297 |
5.085 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-I) (J) |
(59.517) |
(19.883) |
9.759 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(11.008) |
8.875 |
(0.884) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(70.525) |
(11.008) |
8.875 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(70.52) |
(11.01) |
15 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
(9.08)
|
(5.96)
|
12.17 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(9.21)
|
(5.96)
|
21.16 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(4.93)
|
(2.34)
|
2.96 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
99.06
|
19.43
|
0.62 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
(20.86)
|
(913.72)
|
20.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.12
|
0.93
|
1.17 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
31.03.2008 (Rs. in millions) |
|
Sundry Creditors |
83.772 |
129.802 |
3.011 |
|
Total |
83.772 |
129.802 |
3.011 |
OPERATIONS AND
FUTURE PROSPECTS:
The Chairman
informed the Board that the company is badly hit by the previous year’s
recession. Global slowdown of economic conditions has largely affected on the
Real Estate and Infrastructure Segment. This has affected largely on the
company which resulted into losses of Rs. 59.516 millions However, now the
economic conditions are stabilizing and showing positive effects on the
economic conditions. The company is hopeful of increasing its business during
next financial year. The Management of the company is of the opinion that the
same trend will continue in the years to come and is hoping of getting more
good business.
FORM 8
|
Corporate
identity number of the company |
U70102PN2006PLC128506 |
|
Name of the
company |
MARVEL REALTORS
AND DEVELOPERS LIMITED |
|
Address of the
registered office or of the principal place of business in |
Office No. 301-302, Jewel Tower, Survey No. 25/H, Lane No. 5, Koregaon
Park, Pune-411001, Maharashtra, India. |
|
This form is for |
Creation of
charge |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
HDFC Asset Management Company Limited, 169, Ramon House, Backbay
Reclamation, Churchgate, Mumbai-400020, Maharashtra, India |
|
Nature of
instrument creating charge |
Memorandum Of Entry
Dated 8th August, 2011 Executed On Behalf Of The Company For HDFC Asset
Management Company Limited Creating Equitable Mortgage. |
|
Date of
instrument Creating the charge |
08.08.2011 |
|
Amount secured by
the charge |
Rs. 800.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest As per terms of
the Debentures Subscription Agreement Terms of repayment Debentures to be redeemed
on maturity or on exercise of call option as detailed in the debenture
subscription agreement and on such terms and conditions as detailed in the
said agreement attached herewith. Extent and operation of the charge As detailed in
clause 10.1.1 of the debenture subscription agreement. Other As Detailed In
The Debenture Subscription Agreement |
FIXED ASSETS:
- Plant and Machinery
- Office at Arthvishwa
- Motor Vehicle
- Furniture and Fixtures
- Computers
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. 47.09 |
|
|
1 |
Rs. 74.64 |
|
Euro |
1 |
Rs. 64.42 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
|
15 |
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.