1. Summary Information
|
|
|
Country |
|
|
Company Name |
NEWLOOK
ELECTRONICS CENTRE PRIVATE LIMITED |
Principal Name 1 |
Mr. Kiran Vashdev Wadhwani |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Vashdev Jairamdas Wadhwani |
|
|
|
Registration # |
11-024253 |
|
Street Address |
Office No.3, |
||
|
Established Date |
16.04.1981 |
SIC Code |
-- |
|
Telephone# |
91-22-26049598 |
Business Style 1 |
Trader |
|
Fax # |
91-22-26497991 |
Business Style 2 |
Electronic Products |
|
Homepage |
-- |
Product Name 1 |
Refrigerator |
|
# of employees |
40 (Approximately) |
Product Name 2 |
Washing Machines |
|
Paid up capital |
Rs.2,004,000/- |
Product Name 3 |
Air Condi |
|
Shareholders |
Directors or Relatives of Directors-99.00% Other Top Fifty Shareholders-1.00% |
Banking |
The
Zoroastrian Co-Operative Bank Limited |
|
Public Limited Corp. |
No |
Business Period |
31 Years |
|
IPO |
No |
International Ins. |
-- |
|
Public |
No |
Rating |
Ba (45) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Subsidiaries |
-- |
Nikita Innovation And Agroventures Private
Limited |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
15,317,000
|
Current Liabilities |
11,307,000
|
|
Inventories |
36,821,000
|
Long-term Liabilities |
49,938,000 |
|
Fixed Assets |
27,300,000 |
Other Liabilities |
17,000
|
|
Deferred Assets |
-- |
Total Liabilities |
61,262,000 |
|
Invest& other Assets |
533,000 |
Retained Earnings |
16,705,000 |
|
|
|
Net Worth |
18,709,000 |
|
Total Assets |
79,971,000 |
Total Liab. & Equity |
79,971,000 |
|
Total Assets (Previous Year) |
68,273,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Turnover |
241,574,000 |
Net Profit |
1,559,000 |
|
Total Income (Previous
yr) |
198,808,000 |
Net Profit(Prev.yr) |
861,000 |
|
Report Date : |
19.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
NEWLOOK ELECTRONICS CENTRE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Office No.3, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
16.04.1981 |
|
|
|
|
Com. Reg. No.: |
11-024253 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2.004 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32100MH1981PTC024253 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMN10102B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACN2132R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Trader of Electronic Products [From 2005 they have started reality
business also] |
|
|
|
|
No. of Employees
: |
40 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 74000 |
|
|
|
|
Status : |
Satisfactory |
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|
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Payment Behaviour : |
Usually Correct |
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|
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|
Litigation : |
Clear |
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|
|
Comments : |
Subject is an 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. 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) |
|
|
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 : |
Office No.3, |
|
Tel. No.: |
91-22-26049598 / 26002191 / 26465305 |
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Fax No.: |
91-22-26497991 |
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E-Mail : |
|
|
Area : |
2900 Sq. ft. |
|
Location : |
Owned |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Kiran Vashdev Wadhwani |
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|
Designation : |
Managing Director |
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Address : |
House No. 3, Jairam Villa, Vallabh Bhai Patel Road, Behind Arya Samaj
Mandir, Santacruz (West), Mumbai – 400 054, Maharashtra, India |
|||||||||||||||||||||||||||
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Date of Birth/Age : |
20.04.1961 |
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Qualification : |
Graduate |
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Date of Appointment : |
01.07.1981 |
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DIN No.: |
00347791 |
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Other
Directorship
|
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Name : |
Mr. Vashdev Jairamdas Wadhwani |
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Designation : |
Director |
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Address : |
House No. 3, Jairam Villa, Vallabh Bhai Patel Road, Behind Arya Samaj
Mandir, Santacruz (West), Mumbai – 400 054, Maharashtra, India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
13.09.1936 |
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Qualification : |
SSC |
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Date of Appointment : |
01.07.1981 |
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DIN No.: |
00347929 |
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Other
Directorship
|
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|||||||||||||||||||||||||||
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Name : |
Mrs. Nita Vashdev Wadhwani |
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Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
House No. 3, Jairam Villa, Vallabh Bhai Patel Road, Behind Arya Samaj
Mandir, Santacruz (West), Mumbai – 400 054, Maharashtra, India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
14.03.1941 |
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Qualification : |
BA |
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Date of Appointment : |
01.07.1981 |
|||||||||||||||||||||||||||
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DIN No.: |
00347870 |
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Other
Directorship
|
||||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||
|
Name : |
Mr. Yogendra Vashdev Wadhwani |
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Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
House No. 3, Jairam Villa, Vallabh Bhai Patel Road, Behind Arya Samaj
Mandir, Santacruz (West), Mumbai – 400 054, Maharashtra, India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
18.01.1966 |
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Qualification : |
Bachelor in Architecture |
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Date of Appointment : |
01.06.1985 |
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DIN No.: |
00347730 |
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Other
Directorship
|
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Vashdev Wadhwani |
|
3800 |
|
Nita Wadhwani |
|
4000 |
|
Kiran Wadhwani |
|
4900 |
|
Vijaya Wadhwani |
|
1998 |
|
Yogendra Wadhwani |
|
4980 |
|
Vashdev Wadhwani Jointly with Mrs. Nita Wadhwani |
|
200 |
|
Meena Kiran Wadhwani |
|
100 |
|
Master Nikhil Kiran Wadhwani Jointly Mr. Kiran Wadhwani |
|
20 |
|
Master Kunal Kiran Wadhwani Jointly with Mr. Kiran Wadhwani |
|
20 |
|
Jyotsna Yogendra Wadhwani |
|
20 |
|
|
|
1 |
|
Veenabai Jairamdas Wadhwani |
|
1 |
|
Total |
|
20040 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
99.00 |
|
Other top fifty shareholders |
1.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Electronic Products [From 2005 they have started reality
business also] |
|
|
|
|
Products : |
·
Refrigerator ·
Washing Machines ·
Air Conditioners |
GENERAL INFORMATION
|
No. of Employees : |
40 (Approximately) |
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Bankers : |
·
The Zoroastrian Co-Operative Bank Limited,
Bandra (West), Branch 9, Pluto Co-Operative Housing Society, ·
Development Credit Bank Limited |
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Facilities : |
(Rs.
In Millions)
|
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|
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Shyam R. Karmarkar and Company Chartered Accountants |
|
Address : |
B/6, Datta Apartments, |
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Tel. No.: |
AACPK7815M |
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Mobile No.: |
91-22-26462541/ 26049664 |
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Fax No.: |
91-22-26049664 |
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PAN.: |
AACPK815M |
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|
|
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Subsidiaries |
Nikita Innovation and Agroventures Private Limited CIN No.: U74999MH1992PTC069084 |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.100/- each |
Rs.5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20040 |
Equity Shares |
Rs.100/-
each |
Rs.2.004
Millions |
|
|
|
|
|
Of The Above 10,020 (Previous Year 10,020) Equity Shares of Rs.100/-Each Were Allotted as Fully Paid Bonus Shares by way of Capitalisation of Reserves
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 |
2.004 |
2.004 |
2.004 |
|
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
16.705 |
15.146 |
14.284 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
18.709 |
17.150 |
16.288 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
13.197 |
21.827 |
31.068 |
|
|
2] Unsecured Loans |
36.741 |
24.513 |
14.790 |
|
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TOTAL BORROWING |
49.938 |
46.340 |
45.858 |
|
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DEFERRED TAX LIABILITIES |
0.017 |
0.000 |
0.000 |
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|
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|
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TOTAL |
68.664 |
63.490 |
62.146 |
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APPLICATION OF FUNDS |
|
|
|
|
|
|
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|
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FIXED ASSETS [Net Block] |
27.300 |
12.018 |
13.846 |
|
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Capital work-in-progress |
0.000 |
0.000 |
0.000
|
|
|
|
|
|
|
|
|
INVESTMENT |
0.533 |
0.533 |
0.597 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.020 |
0.094 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
36.821
|
47.847
|
42.268
|
|
|
Sundry Debtors |
4.607
|
4.606
|
4.834
|
|
|
Cash & Bank Balances |
1.016
|
1.071
|
1.028
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
9.694
|
2.178
|
2.143
|
|
Total
Current Assets |
52.138
|
55.702 |
50.273 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
8.889
|
2.396
|
1.014 |
|
|
Other Current Liabilities |
2.418
|
2.387
|
1.650
|
|
|
Provisions |
0.000
|
0.000
|
0.000
|
|
Total
Current Liabilities |
11.307
|
4.783 |
2.664 |
|
|
Net Current Assets |
40.831
|
50.919
|
47.609
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
68.664 |
63.490 |
62.146 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
|
|
|
Turnover |
241.574 |
198.808 |
216.087 |
|
|
|
|
|
|
|
|
Less |
|
TOTAL EXPENSES |
238.891 |
197.322 |
212.451 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
2.683 |
1.486 |
3.636 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.124 |
0.625 |
1.392 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
1.559 |
0.861 |
2.244 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
77.81 |
42.96 |
111.98 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.38
|
2.19 |
5.67 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14
|
0.09 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.27
|
2.98 |
2.98 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.61
|
11.65 |
18.87 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business• |
Yes |
|
7) Promoter’s background |
Yes |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
No |
|
10) Designation of contact person |
No |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
Note:
The registered office of the company has been shifted from 13/14, Jay Kay Industrial
Estate,
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U32100MH1981PTC024253 |
|
Name of the company
|
NEWLOOK
ELECTRONICS CENTRE PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Office No.3, |
|
This form is for |
Modification of
charge |
|
Charge
identification (ID) number of the charge to be modified |
90186861 |
|
Type of charge |
· Book Debts ·
Movable property |
|
Particular of
charge holder |
The Zoroastrian
Co-operative Bank Limited, Bandra (West) Branch, 9, Pluto Co-operative
Housing Society, |
|
Nature of
instrument creating charge |
Supplemental Deed
of Hypothecation (I) Additional Limit |
|
Date of
instrument Creating the charge |
22.09.2009 |
|
Amount secured by
the charge |
Rs.20.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest as
determined by the Bank from time to time Terms of Repayment On Demand Margin As per sanction
terms Extent and Operation of the charge To secure the
cash credit limit of Rs.20.000 Millions granted by the Bank to the company |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation by
way of 1st charge in favour of the bank: 1. Stocks which
shall include all products, goods and all tangible movable machinery and
plant movable property of any kind belonging to the borrower which now or
here in after from time to time during this security shall be brought in,
stored installed or lying loose or be in or about the borrower’s premises or
godowns and / or in transit or with borrower’s agents or wherever else they
be and 2. All book
debts, outstanding receivable by the borrower. |
|
Date of
instrument modifying the charge |
19.09.2009 |
|
Particulars of
the present modification |
An Additional Sum
of Rs.5.000 Millions has been granted by the Bank, thereby enhancing the cash
credit limit form Rs.15.000 Millions to Rs.20.000 Millions |
FIXED ASSETS
· Land at Atgaon, Thane (Freehold)
· Building at Atgaon, Thane
· Goodwill
· Plant and Machinery
· Computer Systems
· Motor Car
· Air Conditioner
· Office Equipments
· Furniture and Fixtures
· Scooter
·
Office Premises (
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.51.50 |
|
|
1 |
Rs.81.99 |
|
Euro |
1 |
Rs.67.54 |
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 |
YES |
|
--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.