1. Summary Information
|
|
|
Country |
|
|
Company Name |
SL LUMAX LIMITED |
Principal Name 1 |
Mr. Soo Hwang Lee |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Shin Jungyoung |
|
|
|
Registration # |
18-048136 |
|
Street Address |
G-15, |
||
|
Established Date |
08.08.1997 |
SIC Code |
-- |
|
Telephone# |
91-44-47104170 |
Business Style 1 |
MANUFACTURER |
|
Fax # |
91-44-47100815 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Automotive Components |
|
|
# of employees |
Not Available |
Product Name 2 |
-- |
|
Paid up capital |
Rs.155,000,000/- |
Product Name 3 |
-- |
|
Shareholders |
Foreign Holdings – 78.72% Bodies
Corporate – 21.28% |
Banking |
HDFC Bank Limited |
|
Public Limited Corp. |
No |
Business Period |
15 Years |
|
IPO |
No |
International Ins. |
-- |
|
Public |
No |
Rating |
Ba (49) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Joint Venture |
Korea |
SL Corporation |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1,189,156,000
|
Current Liabilities |
715,467,000
|
|
Inventories |
245,540,000
|
Long-term Liabilities |
770,535,000 |
|
Fixed Assets |
1,702,448,000 |
Other Liabilities |
291,075,000
|
|
Deferred Assets |
0,000 |
Total Liabilities |
1,777,077,000 |
|
Invest& other Assets |
0,000 |
Retained Earnings |
1,205,067,000 |
|
|
|
Net Worth |
1,360,067,000 |
|
Total Assets |
3,137,144,000 |
Total Liab. & Equity |
3,137,144,000 |
|
Total Assets (Previous Year) |
3,722,170,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
5,039,536,000 |
Net Profit |
322,135,000 |
|
Sales(Previous yr) |
4,848,860,000 |
Net Profit(Prev.yr) |
400,489,000 |
|
Report Date : |
03.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
SL LUMAX LIMITED (w.e.f.23.11.2004) |
|
|
|
|
Formerly Known
As : |
LUMAX SAMLIP INDUSTRIES
LIMITED |
|
|
|
|
Registered
Office : |
G-15, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
08.08.1997 |
|
|
|
|
Com. Reg. No.: |
18-048136 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.155.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34300TN1997PLC048136 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEL02080B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACL1857B |
|
|
|
|
Legal Form : |
A Closely Held Public
Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of
Automotive Components. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 5400000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to be
usually correct and as per commitments. Company can be considered normal for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office/ Factory : |
G-15, |
|
Tel. No.: |
91-44-47104170/ 47104100/ 47100801 |
|
Fax No.: |
91-44-47100815 |
|
E-Mail : |
|
|
Website: |
DIRECTORS
AS ON 19.11.2011
|
Name : |
Mr. Soo Hwang Lee |
|
Designation : |
Managing Director |
|
Address : |
Flat No.604, 6th Floor, “ |
|
Date of Birth/Age : |
12.10.1958 |
|
Date of Appointment : |
16.04.2009 |
|
DIN No.: |
02645577 |
|
|
|
|
Name : |
Mr. Shin Jungyoung |
|
Designation : |
Executive Director |
|
Address : |
Flat No.6/A-1, “A-Block”, “SI GRACE MANOR”, Malaviya Nagar,
Thiruvanmiyur, Chennai – 600 0041, Tamilnadu, |
|
Date of Birth/Age : |
28.12.1965 |
|
Date of Appointment : |
20.08.2010 |
|
DIN No.: |
03266753 |
|
|
|
|
Name : |
Mr. Amarnath Lalchand Lulla |
|
Designation : |
Director |
|
Address : |
3rd Floor, “Gurukripa”, |
|
Date of Birth/Age : |
28.11.1937 |
|
Date of Appointment : |
01.07.2004 |
|
DIN No.: |
00007490 |
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 |
U29129TN1986PTC013733 |
ALFA
RUBBER AND SPRINGS PRIVATE LIMITED |
Director |
29-01-93 |
29-01-93 |
24-09-09 |
Active |
NO |
|
2 |
U34300TN1997PLC048136 |
SL
LUMAX LIMITED |
Director |
01-07-04 |
01-07-04 |
- |
Active |
NO |
|
3 |
U25199TN2005PTC058033 |
UNIVERSAL
FORME INDIA PRIVATE LIMITED |
Director |
17-11-05 |
17-11-05 |
- |
Amalgamated |
NO |
|
4 |
U28910TN1960PLC004192 |
INDIA
FORGE AND DROP STAMPINGS LIMITED |
Director |
10-10-06 |
10-10-06 |
- |
Active |
NO |
|
5 |
U29248HR2007PTC036531 |
T K
Precision Private Limited |
Director |
10-01-07 |
10-01-07 |
- |
Active |
NO |
|
6 |
U51505TN2008PTC069650 |
TRACK
SYSTEMS INDIA PRIVATE LIMITED |
Director |
23-10-08 |
23-10-08 |
01-02-10 |
Active |
NO |
|
7 |
U29268TN2009PTC072868 |
ARKS
INDCOMP PRIVATE LIMITED |
Director |
10-09-09 |
10-09-09 |
30-09-10 |
Active |
NO |
|
Name : |
Mr. Dhanesh Kumar Jain |
|
Designation : |
Director |
|
Address : |
L1/26, Aakashneem Marg, |
|
Date of Birth/Age : |
08.11.1942 |
|
Date of Appointment : |
08.08.1997 |
|
DIN No.: |
00085848 |
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 |
L31909MH1981PLC025519 |
LUMAX
AUTO TECHNOLOGIES LIMITED |
Director |
30-10-81 |
30-10-81 |
Active |
NO |
|
2 |
L74899DL1981PLC012804 |
LUMAX
INDUSTRIES LIMITED |
Managing
director |
01-08-11 |
10-12-81 |
Active |
NO |
|
3 |
U74899DL1995PTC065459 |
LUMAX
INVESTMENT AND FINANCE PRIVATE LIMITED |
Director |
15-02-95 |
15-02-95 |
Amalgamated |
NO |
|
4 |
U34300DL1997PLC087110 |
LUMAX
DK AUTO INDUSTRIES LIMITED |
Director |
07-05-97 |
07-05-97 |
Active |
NO |
|
5 |
U26102HR1981PTC012337 |
LUMAX
GLASS WORKS PRIVATE LIMITED |
Director |
04-06-97 |
04-06-97 |
Dormant |
NO |
|
6 |
U34300TN1997PLC048136 |
SL
LUMAX LIMITED |
Director |
08-08-97 |
08-08-97 |
Active |
NO |
|
7 |
U50300DL2003PTC122446 |
LUMAX
AUTO PARTS TRADING PRIVATE LIMITED |
Director |
01-06-06 |
01-06-06 |
Active |
NO |
|
8 |
U31908DL2007PTC164757 |
LUMAX
CORNAGLIA AUTO TECHNOLOGIES PRIVATE LIMITED |
Director |
14-06-07 |
14-06-07 |
Active |
NO |
|
9 |
U70101DL2009PTC196718 |
BACKCOUNTRY
ESTATES PRIVATE LIMITED |
Director |
08-12-09 |
08-12-09 |
Active |
NO |
|
Name : |
Mr. Samboor Vadakarai Raja Krishnan |
|
Designation : |
Director |
|
Address : |
No. 26 (Old No. 16) New Bangaru Colony, K K Nagar (West),
Chennai-600078, |
|
Date of Birth/Age : |
07.06.1943 |
|
Date of Appointment : |
31.03.2003 |
|
DIN No.: |
01261930 |
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 |
U27101TN1980PLC008277 |
KARTIK
STEELS LIMITED |
Managing
director |
26-05-80 |
26-05-80 |
31-07-10 |
Active |
NO |
|
2 |
U34300TN1997PLC048136 |
SL
LUMAX LIMITED |
Director |
31-03-03 |
31-03-03 |
- |
Active |
NO |
|
3 |
U74210MH2008PLC186567 |
SURENDRA
ENGINEERING CORPORATION LIMITED |
Director |
01-01-09 |
01-01-09 |
- |
Active |
NO |
|
Name : |
Mr. Choong Kon Lee |
|
Designation : |
Director |
|
Address : |
236-3 (13/3), Nowon-Dong, 3 (SAM)-GA, BUK-GU, DAEGU, |
|
Date of Birth/Age : |
05.08.1944 |
|
Date of Appointment : |
04.10.1997 |
|
DIN No.: |
01965444 |
|
|
|
|
Name : |
Mr. Kuldip Narain Gupta |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
BW, 41-D, Shaalimar Bagh, New Delhi-110088, |
|
Date of Birth/Age : |
20.03.1951 |
|
Date of Appointment : |
05.09.2008 |
|
DIN No.: |
02315331 |
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 |
U34300TN1997PLC048136 |
SL
LUMAX LIMITED |
Director |
28-09-10 |
05-09-08 |
Active |
NO |
|
2 |
U74140DL2011PTC228936 |
SKNG
BUSINESS SOLUTIONS PRIVATE LIMITED |
Director |
19-12-11 |
19-12-11 |
Active |
NO |
|
Name : |
Mr. Nam Dongsoo |
|
Designation : |
Whole Time Director |
|
Address : |
2-B, Shreshta Grande, Plot No.789, Aibea Nagar, 4th Main
Road, Thiruvanmiyar, Chennai, Tamilnadu, India |
|
Date of Birth/Age : |
17.10.1974 |
|
Date of Appointment : |
29.03.2011 |
|
DIN No.: |
03500410 |
KEY EXECUTIVES
|
Name : |
Mr. J. Eugene Vijayakumar |
|
Designation : |
Company Secretary and General Manager (Finance) |
|
Address : |
174/3, Kujinji Colony, 4th Avenue, |
|
Date of Birth/Age : |
22.06.1953 |
|
Date of Appointment : |
01.09.2001 |
|
PAN No.: |
AADPE6982A |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 19.11.2011
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Lumax Industries Limited, |
3298926 |
21.28 |
|
Deepak Jain |
10 |
- |
|
Dhanesh Kumar Jain |
10 |
- |
|
R.P. Agarwal |
10 |
- |
|
K.N. Gupta |
10 |
- |
|
Naval Khanna |
10 |
- |
|
K.V. Vijayan |
10 |
- |
|
SL Corporation, |
12200964 |
78.72 |
|
J. Eugene Vijaykumar |
10 |
- |
|
VVR Bharani Kumar |
10 |
- |
|
R. Murali |
10 |
- |
|
R. Malathi |
10 |
- |
|
V. Ravi Sarma |
10 |
- |
|
Total |
15500000 |
100.00 |
AS ON 19.11.2011
|
Equity Shares
Break Up |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
78.72 |
|
Bodies corporate |
21.28 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of
Automotive Components. |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Actual
Production |
|
Head/ Rear Comb/ Fog Lamps etc. |
Nos. |
5373000 |
|
Chasts Parts |
Nos. |
5829000 |
|
Trim Parts |
Nos. |
12491000 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
Ř
Industrial Development Bank of Ř
Chohung Bank, 42, Jolly Maker Camber 2, 225,
Nariman Point, Mumbai-400021, Ř
Shinhan Bank, Mumbai Branch Ř
Export Import Bank of Ř
Korea Exchange Bank, Ř
Sinhan Bank, Mumbai Branch Ř
ABN Amro Bank NV, Chennai Ř
Indian Overseas Bank, Irrugattukottai Branch Ř
HDFC Bank Limited Ř
ICICI Bank Limited, Porur Branch Ř
The Royal Bank of |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S. R. Batliboi and Company Chartered Accountant |
|
Address : |
6th and 7th Floor, A Block, Tidel Park No.4,
Rajiv Gandhi Salai, Taramani, Chennai-600113, Tamilnadu, India |
|
Pan No.: |
ABSFS4151K |
|
|
|
|
Joint Ventures : |
·
SL Corporation, Korea ·
Lumax Industries Limited |
|
|
|
|
Associates : |
HSL Electronics Company Limited |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16000000 |
Equity Shares |
Rs.10/- each |
Rs. 160.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15500000 |
Equity Shares |
Rs.10/- each |
Rs. 155.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
155.000 |
155.000 |
155.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1205.067 |
932.108 |
509.555 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1360.067 |
1087.108 |
664.555 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
770.535 |
1565.919 |
2261.017 |
|
|
TOTAL BORROWING |
770.535 |
1565.919 |
2261.017 |
|
|
DEFERRED TAX LIABILITIES |
177.039 |
121.933 |
148.197 |
|
|
|
|
|
|
|
|
TOTAL |
2307.641 |
2774.960 |
3073.769 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1702.448 |
1788.892 |
2090.623 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
245.540
|
196.425
|
226.435
|
|
|
Sundry Debtors |
586.444
|
759.619
|
729.776
|
|
|
Cash & Bank Balances |
525.504
|
635.873
|
288.719
|
|
|
Other Current Assets |
38.757
|
0.000
|
0.000
|
|
|
Loans & Advances |
38.451
|
341.361
|
337.244
|
|
Total
Current Assets |
1434.696
|
1933.278 |
1582.174 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
675.536
|
624.557
|
492.649
|
|
|
Other Current Liabilities |
39.931
|
0.000
|
0.000
|
|
|
Provisions |
114.036
|
322.653
|
114.359
|
|
Total
Current Liabilities |
829.503
|
947.210 |
607.008 |
|
|
Net Current Assets |
605.193
|
986.068
|
975.166
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
7.980 |
|
|
|
|
|
|
|
|
TOTAL |
2307.641 |
2774.960 |
3073.769 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5039.536 |
4848.860 |
4241.981 |
|
|
|
Other Income |
95.162 |
50.986 |
46.005 |
|
|
|
TOTAL (A) |
5134.698 |
4899.846 |
4287.986 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of Goods Traded in |
0.000 |
32.025 |
107.440 |
|
|
|
Material Consumed |
3502.023 |
3238.583 |
3065.751 |
|
|
|
Direct Manufacturing Cost |
0.000 |
537.271 |
442.786 |
|
|
|
Employee Cost |
278.911 |
103.934 |
95.236 |
|
|
|
Administration Overheads |
456.296 |
71.505 |
57.267 |
|
|
|
Selling and Forwarding Expenses |
0.000 |
30.479 |
13.904 |
|
|
|
Loss on |
0.000 |
0.135 |
4.647 |
|
|
|
Miscellaneous Expenses written off |
0.000 |
0.000 |
33.028 |
|
|
|
Increase/ Decrease in Stock |
0.000 |
9.681 |
21.471 |
|
|
|
TOTAL (B) |
4237.230 |
4023.613 |
3841.530 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
897.468 |
876.233 |
446.456 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
13.230 |
42.506 |
75.050 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
884.238 |
833.727 |
371.406 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
241.929 |
251.208 |
201.119 |
|
|
|
|
|
|
|
|
|
|
Prior Period
Items |
(113.211) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
529.098 |
582.519 |
170.287 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
206.963 |
182.030 |
39.399 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
322.135 |
400.489 |
130.888 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
908.947 |
508.458 |
469.443 |
|
|
|
|
|
|
|
|
|
Less |
Prior Period Exchange Gain Capitalized |
0.000 |
0.000 |
91.873 |
|
|
|
|
|
|
|
|
|
Less |
Appropriation |
43.219 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
1187.863 |
908.947 |
508.458 |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
9.570 |
3.347 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
NA |
30.532 |
63.159 |
|
|
|
Raw Materials, Components and Paints, etc. |
1506.000 |
1225.171 |
1006.911 |
|
|
TOTAL IMPORTS |
1506.000 |
1255.703 |
1070.070 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
20.78 |
25.84 |
8.44 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
6.27
|
8.17 |
3.05
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.50
|
12.01 |
4.01
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.87
|
15.65 |
4.64
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.39
|
0.54 |
0.26
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.31
|
2.31 |
4.32
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.73
|
2.04 |
2.61
|
LOCAL AGENCY FURTHER INFORMATION
FIXED ASSETS:
Ř
Ř Building
Ř Plant and Machinery
Ř Electrical Fittings
Ř Tools and Dies
Ř Factory Equipments
Ř Motor Car
Ř Scooter
Ř Computers
Ř Office Equipments
Ř Furniture and Fixture
Ř Cycle
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. 51.15 |
|
|
1 |
Rs. 81.79 |
|
Euro |
1 |
Rs. 68.34 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
49 |
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.