MIRA
INFORM REPORT
|
Report Date : |
06.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
ZAPAK DIGITAL ENTERTAINMENT LIMITED [w.e.f. 31.08.2006] |
|
|
|
|
Formerly Known
As : |
RELIANCE COM LIMITED |
|
|
|
|
Registered
Office : |
H-Block, 1st Floor, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
14.12.2005 |
|
|
|
|
Com. Reg. No.: |
11-158036 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999MH2005PLC158036 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR19591F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACDR1992A |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Marketing and Distribution of Gaming Products. |
|
|
|
|
No. of Employees
: |
The information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (12) |
|
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 : |
Poor |
|
|
|
|
Payment Behaviour : |
Delayed |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of Reliance Big Entertainment Private Limited.
It is a company having poor track. Financial position of the company is under
severe pressure. Even though the company has recorded an increase in its
sales, it has incurred heavy loss during 2011. There appears huge accumulated
losses recorded by the company which tends to be increasing over years. Business is active. Payments are reported to be delayed. Initially, the company can be considered for business dealings only on
a safe and 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.
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 DECLINED
Management non co-operative.
LOCATIONS
|
Registered Office : |
H-Block, 1st Floor, |
|
Tel. No.: |
91-22-30386290 |
|
Fax No.: |
91-22-30376633 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office: |
Level 4, Infinity Mall, New |
|
Tel No.: |
91-22-39816600 |
|
Fax No.: |
91-22-39816601 |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Venkatarao Subbarao Ponnada |
|
Designation : |
Director |
|
Address : |
Apartment No. 104, Building No. 47, Seawoods Estate, Phase II, Sector
54, Nerul, Navi Mumbai-400706, Maharashtra, India |
|
Date of Birth/Age : |
25.01.1955 |
|
Date of Appointment : |
25.03.2011 |
|
Din No.: |
01503467 |
|
|
|
|
Name : |
Mr. Swapan Sukhamoy Das |
|
Designation : |
Director |
|
Address : |
D-122, Kalpataru Towers, Off Akruli Road, Kandivali (East),
Mumbai-400101, Maharashtra, India |
|
Date of Birth/Age : |
28.09.1969 |
|
Date of Appointment : |
25.03.2011 |
|
Din No.: |
01361372 |
|
|
|
|
Name : |
Mr. Shibasish Tejendranath Sarkar |
|
Designation : |
Director |
|
Address : |
1403, Snowflama, Dosti Flamingos, Chinamill Compound, Tokersi Jivraj
Road, Parel, Mumbai-400015, Maharashtra, India |
|
Date of Birth/Age : |
05.04.1972 |
|
Date of Appointment : |
25.03.2011 |
|
Din No.: |
03450533 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Gaurang Shah jointly with Reliance Big Entertainment Private Limited, |
|
1 |
|
Abhijit Banerjee jointly with Reliance Big Entertainment Private
Limited, |
|
1 |
|
Ashish Karyekar jointly with Reliance Big Entertainment Private
Limited, |
|
1 |
|
Paresh Rathod jointly with Reliance Big Entertainment Private Limited,
|
|
1 |
|
Reliance Big Entertainment Private Limited, |
|
49994 |
|
AAA Finance Management Private Limited, jointly with Reliance Big
Entertainment Private Limited, |
|
1 |
|
AAA Project Finance Management Private Limited jointly with Reliance Big
Entertainment Private Limited, |
|
1 |
|
|
|
|
|
Total |
|
50000 |
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Marketing and Distribution of Gaming Products. |
GENERAL INFORMATION
|
No. of Employees : |
The information denied by the management. |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
Reliance Capital Limited, H-Block, 1st Floor, Dhirubhai
Ambani Knowledge City, Thane Belapur Road, Navi Mumbai-400710, Maharashtra,
India |
|
|
|
|
Auditors : |
|
|
Name : |
Pathak H.D. and Associates Chartered Accountant |
|
Address : |
709, Tulsiani Chambers, 212, Nariman Point, Mumbai-400021, |
|
Tel. No.: |
91-22-30228508 |
|
Fax No.: |
91-22-30228509 |
|
Pan No.: |
AAAFP1031C |
|
|
|
|
Holding Company : |
Reliance Big Entertainment Private Limited [U72900MH2006PTC160603] |
|
|
|
|
Ultimate Holding Company : [As on 31.03.2010] |
AAA Entertainment Private Limited |
|
|
|
|
Fellow Subsidiary : [As on 31.03.2010] |
Big Flicks Private Limited |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
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 |
0.500 |
0.500 |
0.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(1858.627) |
(1355.205) |
(1104.403) |
|
|
NETWORTH |
(1858.127) |
(1354.705) |
(1103.903) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
2081.186 |
1772.710 |
1422.789 |
|
|
TOTAL BORROWING |
2081.186 |
1772.710 |
1422.789 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
223.059 |
418.005 |
318.886 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
161.615 |
235.676 |
171.675 |
|
|
Capital work-in-progress |
5.369 |
19.417 |
6.831 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.020 |
0.020 |
0.020 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
35.075
|
31.588
|
11.334 |
|
|
Sundry Debtors |
146.336
|
196.733
|
132.177 |
|
|
Cash & Bank Balances |
7.175
|
14.469
|
24.015 |
|
|
Other Current Assets |
0.129
|
0.000
|
0.000 |
|
|
Loans & Advances |
83.682
|
84.629
|
76.893 |
|
Total
Current Assets |
272.397
|
327.419 |
244.419 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
121.643
|
67.871 |
|
|
Other Current Liabilities |
206.736
|
30.113
|
27.771 |
|
|
Provisions |
9.606
|
12.771
|
8.417 |
|
Total
Current Liabilities |
216.342
|
164.527
|
104.059 |
|
|
Net Current Assets |
56.055
|
162.892
|
140.360 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
223.059 |
418.005 |
318.886 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
348.003 |
402.319 |
261.203 |
|
|
|
Other Income |
8.024 |
1.758 |
5.080 |
|
|
|
TOTAL (A) |
356.027 |
404.077 |
266.283 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Operating cost |
277.917 |
229.198 |
160.075 |
|
|
|
Employee cost |
198.202 |
184.419 |
204.380 |
|
|
|
General and administrative cost |
130.054 |
119.918 |
140.305 |
|
|
|
Marketing and distribution cost |
97.935 |
95.151 |
147.643 |
|
|
|
Fixed assets written off |
24.524 |
1.050 |
0.870 |
|
|
|
Franchisee restructuring cost |
10.496 |
0.000 |
0.000 |
|
|
|
Prior period adjustments |
1.762 |
1.136 |
0.000 |
|
|
|
TOTAL (B) |
740.890 |
630.872 |
653.273 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(384.863) |
(226.795) |
(386.990) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
23.635 |
8.120 |
2.563 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(408.498) |
(234.915) |
(389.553) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
94.923 |
106.649 |
60.249 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(503.421) |
(341.564) |
(449.802) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.743 |
4.350 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(503.421) |
(342.307) |
(454.152) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(1355.206) |
(1104.404) |
(650.252) |
|
|
|
|
|
|
|
|
|
Add/ Less |
Portal Development Expenses Capitalized |
0.000 |
91.505 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(1858.627) |
(1355.206) |
(1104.404) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Advertisement Services |
NA |
4.081 |
1.884 |
|
|
TOTAL EARNINGS |
NA |
4.081 |
1.884 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods (Game Operating and Marketing Rights) |
NA |
12.198 |
17.531 |
|
|
TOTAL IMPORTS |
NA |
12.198 |
17.531 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(10068.00) |
(6846.00) |
(9083.00) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(141.40)
|
(84.71) |
(170.55) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(144.65)
|
(84.90) |
(168.92) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(115.99)
|
(60.65) |
(108.10) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27
|
0.25
|
40.75 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
(1.23)
|
(1.43)
|
(1.38) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.26
|
1.99
|
2.35 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
SUNDRY CREDITORS |
|
|
|
|
Micro, Small and
Medium Enterprises |
NA |
0.204 |
0.548 |
|
Others |
NA |
121.439 |
67.323 |
|
Total |
NA |
121.643 |
67.871 |
|
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 |
No |
|
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 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 |
NOTE:
The registered office of the company has been shifted from 3rd
Floor, Reliance Energy Centre, Santacruz (East), Mumbai-400055, Maharashtra,
India to the present address w.e.f. 27.08.2008
OPERATION:
The company continued
to strengthen its position in the business during the financial year 2010-11.
Company's Portal continued to be Number One gaming portal in India and aims to
retain the current position in future. The portal hosted over 1025 games under
various categories. The portal has 5.5 million unique visitors per month and
120 million page views per month. This makes Zapak.com to stand in top 10
portals in India and among top 10 flash games portal in the World.
The company
forayed into social gaming partnership with 6 Waves, Heyzap, Playdom and other
big players. Subject aims at becoming the number 1 social gaming site in India.
Subject achieved a membership of 7.3 million users as on March 31, 201 1.
The total Gameplex
strength at the end of the March 2011 was 96 and the number of seats in all
Gameplexs was 1715. Gameplexes offer 185 Live Games and had a registered
membership of over 200,000 as on March 31, 2011.
The company's
Massively Multiplayer Online Game (MMOG) registered user base reached 278,749
with an addition of 167,042 registered users during the year ended March 2011.
The Browser Based MMOG games Runescape achieved registered user base of 49,532
with an addition of 2,550 total registered users during the year ended March
31, 2011. MMOG also has users for games like Ben 10, Toon Football, Crazy Kart,
Chobots, Wanted and Power Soccer.
The company
strengthened its Retail presence with its Licensing and Merchandising business
which has 4000 retail outlets and 518 SKUs and tie-up with world-renowned toy b
given the Company presence to 140 cities in India through a strong distribution network.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U99999MH2005PLC158036 |
|
Name of the
company |
ZAPAK DIGITAL
ENTERTAINMENT LIMITED |
|
Address of the
registered office or of the principal place of business in |
H-Block, 1st Floor, Dhirubhai Ambani Knowledge City, Thane
Belapur Road, Navi Mumbai-400710, Maharashtra, India |
|
Type of charge |
Book Debts Movable Property
[not being pledge] |
|
Particular of
charge holder |
Reliance Capital Limited, H-Block, 1st Floor, Dhirubhai
Ambani Knowledge City, Thane Belapur Road, Navi Mumbai-400710, Maharashtra,
India |
|
Email |
|
|
Nature of
description of the instrument creating or modifying the charge |
Facility- cum
-hypothecation agreement executed on 29th May,2012 |
|
Date of
instrument Creating the charge |
29.05.2012 |
|
Amount secured by
the charge |
Rs.20.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 16% p.a. payable
at monthly interval(floating) Terms of
Repayment Bullet repayment
at the end of tenor. Tenor is Twelve months from the date of sanction or as
applicable. Margin 10% Extent and
Operation of the charge Reliance Capital Limited
(RCL) by way of first charge on the Book-debts of the Borrower and all other
movable assets including but not limited to inventory and receivables of the
Borrower described in general terms in the Schedule hereto / Sanction letter
and all other tangible movable properties of the Borrower such as raw
materials, stocks, spares, semi-finished and finished goods, goods -in
process etc as point no. 8 of the Hypothecation agreement dated 29th May,
2012. |
|
Short particulars
of the property charged |
RCL by way of
first charge on the Book-debts of the Borrower and all other movable assets
including but not limited to inventory and receivables of the Borrower as in
point no.8 of agreement |
CONTINGENT LIABILITIES:
[Rs.
in Millions]
|
Particulars |
31.03.2010 |
31.03.2009 |
|
Estimated amount of Contracts to be executed on capital account and not
provided for net of above |
41.191 |
19.172 |
|
Counter indemnity given to bank against guarantees issued by bank on
behalf of the company / letter of credit |
13.970
|
0.519 |
|
Total |
55.161 |
19.691 |
FIXED ASSETS:
- Plant and Machinery
- Computer
- Furniture and Fixtures
- Office Equipments
- Leasehold Improvements
- Casual Game Licenses
- Computer Software
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.87.03 |
|
Euro |
1 |
Rs.68.36 |
INFORMATION DETAILS
|
Information Gathered
by : |
PJA |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
1 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
12 |
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.