|
Report Date : |
04.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
MILLENNIUM CONFERENCING SYSTEMS PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
MILLENNIUM CYBERNET PRIVATE LIMITED |
|
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|
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Registered
Office : |
7-B, Mittal Court, 478 Rasta Peth, Pune – 411001, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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|
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Date of
Incorporation : |
03.09.1998 |
|
|
|
|
Com. Reg. No.: |
25-012841 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2.010 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U12841PN1998PTC012841 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Trader of all types of Video products such as plasma screens,
multimedia projectors, motorized screen, camera control systems and video
players. |
|
|
|
|
No. of Employees
: |
20 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
USD 15000 |
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|
|
Status : |
Moderate |
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|
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having moderate track. Financial position
of the company appears to be slight weak. The company is progressing slowly
but steadily. Trade relations are reported as fair. Business is active. Payments are
reported to be slow. 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.
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Ms. Anuradha |
|
Designation : |
Accountant |
|
Contact No.: |
91-20-2635739 |
|
Date : |
03.08.2012 |
LOCATIONS
|
Registered Office : |
7-B, Mittal Court, 478 Rasta Peth, Pune – 411001, |
|
Tel. No.: |
91-20-26135739 / 26128700 |
|
Fax No.: |
91-20-26120600 |
|
Video: |
91-20-26051995/96/97 |
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E-Mail : |
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|
Website : |
|
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|
|
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Branch 1 : |
601 D, Chichani Building, Dr. Ambedkar Road, Matunga (East), Mumbai -
400019, Maharashtra, India |
|
E-Mail : |
|
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|
|
|
Branch 2: |
S-523, Manipal Centre Sosuth Block, MEzanine, Floor # 47, Dickenson
Road, Bangalore – 560042, Karnataka, India |
|
Tel. No.: |
91-80-25599959 |
|
E-Mail : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Surendar Kumar Manoharlal Gupta |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
Bunglow No. 20 Kalyani Nagar, Nagr Road, Talera Park Hosing Society, Pune – 411014,
Maharashtra, India |
|
Date of Birth/Age : |
08.08.1960 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
03.09.1998 |
|
DIN No.: |
00384307 |
|
|
|
|
Name : |
Mrs. Priyadarshni Surendra Kumar Gupta |
|
Designation : |
Director |
|
Address : |
Bunglow No. 20 Kalyani Nagar, Nagr Road, Talera Park Hosing Society, Pune – 411014,
Maharashtra, India |
|
Date of Birth/Age : |
14.10.1961 |
|
Qualification : |
Graduate |
|
Experience : |
03.09.1998 |
|
DIN No.: |
00384344 |
|
|
|
|
Name : |
Mr. Jitenderkumar Manoharlal Gupta |
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Designation : |
Director |
|
Address : |
12/2-715/2, 2nd |
|
Date of Birth/Age : |
19.08.1964 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
29.09.2007 |
|
DIN No.: |
01577130 |
|
|
|
|
Name : |
Mrs. Manju Kamalkishore Kacholia |
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Designation : |
Additional Director |
|
Address : |
Flat 1 and 2, Vedang, Opposite ITI Aundh, Pune-411007, |
|
Date of Birth/Age : |
27.11.1956 |
|
Date of Appointment : |
31.01.2011 |
|
DIN No.: |
00279015 |
|
|
|
|
Name : |
Mr. Sanskriti Gupta |
|
Designation : |
Director |
|
Address : |
Talera Park Society, Kalyani Nagar, Pune – 411006, Maharashtra, India |
|
Date of Birth/Age : |
12.10.1989 |
|
Date of Appointment : |
01.12.2010 |
|
DIN No.: |
03315466 |
KEY EXECUTIVES
|
Name : |
Ms. Anuradha |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Surendar Kumar Manoharlal Gupta |
|
199600 |
|
Priyadarshni Surendra Kumar Gupta |
|
400 |
|
|
|
|
|
Total |
|
200000 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of all types of Video products such as plasma screens,
multimedia projectors, motorized screen, camera control systems and video
players. |
|
|
|
|
Terms : |
|
|
Selling : |
Credit |
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Purchasing : |
Credit |
GENERAL INFORMATION
|
Customers : |
Corporates |
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No. of Employees : |
20 (Approximately) |
|||||||||||||||||||||||||||||||||
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|||||||||||||||||||||||||||||||||
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Bankers : |
·
Kotak Mahindra Bank, Pune, Maharashtra, India ·
Oriental Bank of Commerce, Pune, Maharashtra,
India
|
|||||||||||||||||||||||||||||||||
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|||||||||||||||||||||||||||||||||
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Facilities : |
CC: Rs.5.000 Millions (Rs. in Millions)
|
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Vinod K Gupta and Associates Chartered Accountants |
|
Address : |
1549/B, Sadashiv Peth, |
|
Tel. No.: |
91-20-24338960 |
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Mobile No.: |
91-9422029955 |
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Fax No.: |
91-20-24332293 |
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E-Mail : |
|
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PAN.: |
ABIPG1532F |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs.10/- each |
Rs.2.000
Millions |
|
|
Share Application Money |
|
Rs.0.010
Million |
|
|
|
|
|
|
|
Total |
|
Rs.2.010 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 |
2.000 |
2.000 |
0.500 |
|
|
2] Share Application Money |
0.010 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1.884 |
0.913 |
1.710 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
3.894 |
2.913 |
2.210 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
8.546 |
7.140 |
4.486 |
|
|
2] Unsecured Loans |
1.660 |
0.243 |
3.295 |
|
|
TOTAL BORROWING |
10.206 |
7.383 |
7.781 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
14.100 |
10.296 |
9.991 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
6.776 |
6.091 |
5.694 |
|
|
Capital work-in-progress |
0.001 |
0.001 |
0.001 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.090 |
0.103 |
0.102 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
4.934
|
3.560
|
5.787
|
|
|
Sundry Debtors |
6.977
|
2.431
|
0.903
|
|
|
Cash & Bank Balances |
0.104
|
0.345
|
0.432
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
1.971
|
1.702
|
1.020
|
|
Total
Current Assets |
13.986
|
8.038
|
8.142
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
5.238
|
2.847
|
2.982
|
|
|
Other Current Liabilities |
0.000
|
0.000
|
0.000
|
|
|
Provisions |
1.515
|
1.090
|
0.966
|
|
Total
Current Liabilities |
6.753
|
3.937
|
3.948
|
|
|
Net Current Assets |
7.233
|
4.101
|
4.194
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
14.100 |
10.296 |
9.991 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
26.077 |
16.391 |
|
|
|
Other Income |
|
NA |
NA |
|
|
|
TOTAL (A) |
|
NA |
NA |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
NA |
NA |
|
|
|
Administrative Expenses |
|
NA |
NA |
|
|
|
Advertising Expenses |
|
NA |
NA |
|
|
|
TOTAL |
|
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
2.904 |
1.971 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
1.099 |
0.727 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
1.805 |
1.244 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
0.395 |
0.240 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
1.410 |
1.004 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
0.439 |
0.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
0.971 |
0.704 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
4.86 |
NA |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
30.200 |
Expected Sales (2012-2013): Rs.100.000 Millions (New Orders)
The above information has been parted by Ms. Anuradha – Accountant
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Net Profit Margin (PBT/Sales) |
(%) |
5.41
|
6.13 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.08
|
12.49 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.36
|
0.34 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.36
|
3.89 |
5.31 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.07
|
2.04 |
2.06 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
Rs
in Millions
|
Particulars |
As
on 31.03.2011 |
As
on 31.03.2010 |
As
on 31.03.2009 |
|
|
|
|
|
|
Sundry Creditors for Goods |
2.124 |
0.127 |
0.461 |
|
Sundry Creditors for Others |
3.114 |
2.720 |
2.521 |
|
|
5.238 |
2.847 |
2.982 |
|
Sr. No. |
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 |
No |
|
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
two years |
Yes |
|
12] |
Profitability for last
two years |
Yes |
|
13] |
Reasons for variation
<> 20% |
Yes |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
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 |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
32] |
Passport No of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
BANKERS CHARGES REPORT
AS PER REGISTRY
|
Corporate
identity number of the company |
U12841PN1998PTC012841 |
|
Name of the
company |
MILLENNIUM
CONFERENCING SYSTEMS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
7-B Mittal Court 478 Rastapeth, Pune - 411001 Maharashtra, India Email: skgupta@milconsys.net |
|
This form is for
|
Creation of charge |
|
Type of charge |
Book debts Movable property
(not being pledge) |
|
CIN, in case
charge holder or ARC or assignee is a company |
L65110MH1985PLC038137 |
|
Particular of
charge holder |
Kotak Mahindra
Bank Limited, 36-38A, Nariman Bhavan, 227,D, Nariman Point, Mumbai – 400021, Maharashtra,
India Email: john.fernandes@kotak.com |
|
Nature of
instrument creating charge |
Deed of
Hypothecation. |
|
Date of
instrument Creating the charge |
09.06.2012 |
|
Amount secured
by the charge |
Rs.7.500
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest CC/ OD - Floating over the tenure of the facility. Terms of Repayment As may be specified by the bank from time to time. Extent and Operation of the charge First and exclusive charge by way of Hypothecation of Current assets
and Movable fixed assets present and future of the Borrower, in favour of
Kotak Mahindra bank as security for repayment of financial facilities granted
by the Bank to the Borrower. |
|
Short
particulars of the property or asset(s) charged (including complete address
and location of the property) |
The whole of
Borrower's Current assets and Movable fixed assets both present and future
the Deed of Hypothecation. |
Fixed Assets
AS PER WEBSITE DETAILS
COMPANY PROFILE
Subject was established
in the year 1998 and is undoubtedly a leading solutions provider for the voice
conferencing, video conferencing and telepresence solutions. Their unified
communications help transform businesses by reducing costs, improving
efficiency and productivity, while lowering their carbon footprint.
When you choose
Millennium, you choose a leader in collaboration solutions that allow you to
empower teamwork without boundaries by breaking down business barriers and
allowing location independence.
With a
state-of-the-art public room, centrally located in the business district of
Puns city, Millennium boasts of serving to the top notch honchos of the
corporate world.
They are channel
partners of Polycom, AMX, Espon, Dell, Panasonic, Extron, Sharp, etc
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.56.08 |
|
|
1 |
Rs.87.02 |
|
Euro |
1 |
Rs.68.36 |
INFORMATION DETAILS
|
Information
Gathered by : |
SBA |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
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 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
30 |
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.