MIRA
INFORM REPORT
|
Report Date : |
10.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
GENUINE MEDICA PRIVATE LIMITED |
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Registered Office
: |
D-10/3, First Floor, Okhla Industrial Area, Phase-II, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
20.03.1998 |
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Com. Reg. No.: |
002849 |
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Capital Investment
/ Paid-up Capital : |
Rs.0.900 million |
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CIN No.: [Company Identification
No.] |
U74899DL1998PTC092849 |
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Legal Form : |
Private Limited Liability Company
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Line of Business
: |
Manufacturer of Electronic Video Endoscope, Gastroscopy Set etc. |
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No. of Employees
: |
50 Approximately |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 21600 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track
records. Trade relations are reported as fair. Business is active. Payments
are reported to be usually Correct and as per commitments. The 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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY (General Details)
|
Name : |
Mr. Manish |
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Designation : |
Director |
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Contact No.: |
91-9811875298 |
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Date : |
22.03.2012 |
LOCATIONS
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Registered Office / Corporate Office /Factory : |
D-10/3, First Floor, Okhla Industrial Area, Phase-II, New Delhi
110020, India |
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Tel. No.: |
91-11-40513401 / 40522521 |
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Mobile No.: |
91-9811875298 (Mr. Manish) |
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Fax No.: |
91-11-40513400 |
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E-Mail : |
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Website : |
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Location : |
Owned |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Manish Shrivastav |
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Designation : |
Director |
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Date of Birth/Age : |
04.08.1971 |
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Date of Appointment : |
20.03.1998 |
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DIN No.: |
00472142 |
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Name : |
Mrs. Ashwani Arora |
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Designation : |
Director |
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Date of Birth/Age : |
16.05.1969 |
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Date of Appointment : |
20.03.1998 |
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DIN No.: |
00647897 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Mr. Manish Shrivastav |
45100 |
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Mrs. Ashwani Arora |
44900 |
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Total
|
90000 |
AS ON 30.09.2011
|
Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Directors or relatives of directors |
|
100.00 |
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Total
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Electronic Video Endoscope, Gastroscopy Set etc. |
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Products : |
·
Electronic Video Endoscope ·
Gastroscopy Set ·
Colonoscope ·
Bronchoscope ·
Cystoscope and Resectoscope ·
Laparoscope ·
Camera's ·
Arthroscope Set ·
Xenon Light Source ·
Sinoscope set ·
Ultrasound Scanner ·
Beim Scalpel ·
Refurbished Goods ·
Ozone Treatment Device ·
Anorectal Treating Device ·
Ventilators Siemens 300/ 300A/ 900C |
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Terms : |
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Selling : |
Cash, Credit |
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Purchasing : |
Cash, Credit |
GENERAL INFORMATION
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Customers : |
·
Wholesaler ·
Retailers |
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No. of Employees : |
50 Approximately |
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Bankers : |
·
Punjab National Bank, Maharani Bagh, New Delhi
110014, India · HDFC Bank · Barclays Bank · ICIC Bank · ABN Amro Bank · Kotak Mahindra Bank · Standard Chartered Bank |
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Facilities : |
Rs. In Millions
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
K Kaushal and Associates Chartered Accountant |
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Address : |
40 LGF, National Park, Lajpat Nagar, Part IV, New Delhi 110024, India |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
AS ON 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs. 10 each |
Rs.1.000 million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
90000 |
Equity Shares |
Rs. 10 each |
Rs.0.900 million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.900 |
0.900 |
0.900 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
4.500 |
3.234 |
2.685 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
5.400 |
4.134 |
3.585 |
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LOAN FUNDS |
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1] Secured Loans |
21.580 |
13.638 |
16.658 |
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2] Unsecured Loans |
0.375 |
0.100 |
0.374 |
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TOTAL BORROWING |
21.955 |
13.738 |
17.032 |
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DEFERRED TAX LIABILITIES |
0.288 |
0.242 |
0.157 |
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TOTAL |
27.643 |
18.114 |
20.774 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
4.427 |
4.380 |
4.618 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
2.434
|
0.352 |
0.258 |
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Sundry Debtors |
15.119
|
8.187 |
3.512 |
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Cash & Bank Balances |
6.991
|
2.204 |
7.799 |
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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Loans & Advances |
11.389
|
8.116 |
8.319 |
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Total
Current Assets |
35.933
|
18.859 |
19.888 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
5.552
|
1.590 |
1.649 |
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Other Current Liabilities |
6.197
|
3.026 |
2.003 |
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Provisions |
0.968
|
0.509 |
0.080 |
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Total
Current Liabilities |
12.717
|
5.125 |
3.732 |
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Net Current Assets |
23.216
|
13.734 |
16.156 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
27.643 |
18.114 |
20.774 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Sales |
88.930 |
59.677 |
59.358 |
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Other Income |
3.905 |
1.731 |
2.332 |
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TOTAL (A) |
92.835 |
61.408 |
61.690 |
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Less |
EXPENSES |
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Cost of Goods Sold |
|
41.421 |
43.231 |
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Clearing and Forwarding Charges |
|
5.270 |
5.146 |
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Commission on Sales |
|
2.041 |
2.277 |
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Fluctuation in Foreign Exchange |
90.990 |
0.000 |
0.097 |
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Directors Remuneration |
|
1.200 |
0.960 |
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Administrative Expenses |
|
9.471 |
7.984 |
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Loss on Sales of Assets |
|
0.000 |
0.058 |
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TOTAL (B) |
90.990 |
59.403 |
59.753 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1.845 |
2.005 |
1.937 |
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Less |
FINANCIAL
EXPENSES (D) |
NA |
NA |
NA |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1.845 |
2.005 |
1.937 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
0.481 |
0.288 |
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PROFIT BEFORE
TAX (E-F) (G) |
1.845 |
1.524 |
1.649 |
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Less |
TAX (H) |
0.580 |
0.507 |
0.148 |
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PROFIT AFTER TAX
(G-H) (I) |
1.265 |
1.017 |
1.501 |
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IMPORTS |
52.220 |
36.045 |
32.140 |
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Earnings Per
Share (Rs.) |
1.40 |
11.30 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.36
|
1.65 |
2.43 |
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Net Profit Margin (PBT/Sales) |
(%) |
2.07
|
2.55 |
2.77 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
4.57
|
6.55 |
6.72 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.34
|
0.36 |
0.45 |
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Debt Equity Ratio (Total Liability/Networth) |
|
6.47
|
4.62 |
5.83 |
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Current Ratio (Current Asset/Current Liability) |
|
2.82
|
3.67 |
5.32 |
LOCAL AGENCY FURTHER INFORMATION
NOTE:
Registered office of the company has been shifted from B-46, First Floor, Okhla Industrial Area, Phase I, New Delhi 110020, India to the present address w.e.f. 01.12.2011
FINANCIAL RESULTS
AND OPERATIONS
This year the company has achieved a turnover of Rs.88.930 millions,
which 49.01% higher than as compared to previous year. The Company has added
new customers during the current year. Further, the company has added new
products, which is giving boost in sales. Profit before taxation has increased
from Rs.1.524 millions to Rs.1.845 millions during 2010-11.
FORM 8
|
Corporate
identity number of the company |
U74899DL1998PTC092849 |
|
Name of the
company |
GENUINE MEDICA PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
B-46, First Floor, Okhla Industrial Area, Phase I, New Delhi 110020,
India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book debts Movable property
(not being pledge) Others |
|
Particular of
charge holder |
Punjab National Bank, Maharani Bagh, New Delhi 110014, India Email: bo1509@pnb.co.in |
|
Nature of
instrument creating charge |
Deed of Hypothecation.
Hypothecation of goods and book debts to secure cash credit facility. |
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Date of
instrument Creating the charge |
11.02.2012 |
|
Amount secured by
the charge |
Rs. 10.000
millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest Base Rate + 4.50
presently 15.25%. Terms of repayment As and when due. Margin Stocks 25% Book Debt 25% Extent and operation of the charge 100% |
|
Short particulars
of the property charged (Including location of the property) |
1st Charge on
entire current assets, present and future, including entire stocks, book
debts (present and future arising out of genuine trade transactions), loans
and advances etc. Personal Guarantee
of Sh. Ashwani Arora and Sh. Manish Srivastav, Directors |
|
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
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3) Constitutions of the firm |
Yes |
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4) Premises details |
Yes |
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5) Type of Business |
Yes |
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6) Line of Business |
Yes |
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7) Promoter's background |
Yes |
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8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
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10) Designation of contact person |
Yes |
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11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
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14) Estimation for coming financial year |
No |
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15) Capital in the business |
Yes |
|
16) Details of sister concerns |
No |
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17) Major suppliers |
No |
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18) Major customers |
No |
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19) Payments terms |
Yes |
|
20) Export / Import details (if
applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter involved
in |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
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27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
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30) Major Shareholders, if available |
Yes |
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] 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.51.27 |
|
|
1 |
Rs.81.38 |
|
Euro |
1 |
Rs.67.01 |
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 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
45 |
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.