Business
information report
1. Summary Information
|
|
|
Country |
India |
|
Company Name |
EASTERN CHROME
TANNING CORPORATION PRIVATE LIMITED |
Principal Name 1 |
Mrs. Kandrikar Thaseen Fathima |
|
Status |
Moderate |
Principal Name 2 |
Mr. Kandrikar Ehsan Ahmed |
|
|
|
Registration # |
18-048052 |
|
Street Address |
29 (Old No.12), College Road, Nugambakkam, Chennai – 600 006,
Tamilnadu |
||
|
Established Date |
21.11.2001 |
SIC Code |
-- |
|
Telephone# |
91-44-28231104 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-44-28210874 |
Business Style 2 |
Exporter |
|
Homepage |
Product Name 1 |
Cow leather |
|
|
# of employees |
Not Available |
Product Name 2 |
Goat leather |
|
Paid up capital |
Rs. 20,000,000/- |
Product Name 3 |
leather shoes |
|
Shareholders |
Directors or
relatives of Directors – 100% |
Banking |
State Bank of
India |
|
Public Limited Corp. |
No |
Business Period |
11 Years |
|
IPO |
No |
International Ins. |
- |
|
Public Enterprise |
No |
Rating |
Ca (16) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Related
Parties |
India
|
Floram Shoe India Private Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
405,911,000 |
Current Liabilities |
453,397,000 |
|
Inventories |
212,505,000 |
Long-term Liabilities |
127,022,000 |
|
Fixed Assets |
33,338,000 |
Other Liabilities |
19,959,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
600,378,000 |
|
Invest& other Assets |
440,000 |
Retained Earnings |
31,816,000 |
|
|
|
Net Worth |
51,816,000 |
|
Total Assets |
652,194,000 |
Total Liab. & Equity |
652,194,000 |
|
Total Assets (Previous Year) |
613,930,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
477,549,000 |
Net Profit |
312,000 |
|
Sales(Previous yr) |
899,801,000 |
Net Profit(Prev.yr) |
4,639,000 |
|
Report Date : |
20.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
EASTERN CHROME TANNING CORPORATION PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
EASTERN CHROME
TANNING CORPORATION (UNLIMITED) |
|
|
|
|
Registered
Office : |
29 (Old No.12), |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
21.11.2001 |
|
|
|
|
Com. Reg. No.: |
18-048052 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 20.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U19111TN2001PLC048052 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEE02414G |
|
|
|
|
TIN No.: |
33800461129 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of cow leather, goat leather,
leather shoes, finished shoes, shoe uppers. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (16) |
|
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 : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a company having moderate track. There appears decline in the
sales turnover of the company over years. It has recorded very minimal
profits during 2011. Business is active. Payments are reported to be slow and delayed.
There also appears huge external borrowings by the company. The company can be considered for business dealings 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.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Crisil D (Letter of Credit and Bank Facilities) |
|
Rating Explanation |
Default |
|
Date |
12.07.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Crisil D (Short Term) |
|
Rating Explanation |
Default |
|
Date |
12.07.2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ 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.
LOCATIONS
|
Registered Office/ Corporate Office : |
29 (Old No.12), |
|
Tel. No.: |
91-44-28231104 (5 Lines) |
|
Fax No.: |
91-44-28210874/ 28231934 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Kandrikar Ehsan Ahmed |
|
Designation : |
Managing Director |
|
Address : |
5/3, |
|
Date of Birth/Age : |
13.04.1978 |
|
Date of Appointment : |
11.12.2001 |
|
DIN No.: |
00247285 |
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 |
U18209JK1986PTC002898 |
Unico Leather
Product Private Limited |
Managing
director |
15-02-00 |
15-02-00 |
Active |
NO |
|
2 |
U19111TN2001PTC048052 |
Eastern Chrome
Tanning Corporation Private Limited |
Managing
director |
11-12-01 |
11-12-01 |
Active |
NO |
|
3 |
U19115TN2006PTC059726 |
Flora Leather
Fashions Private Limited |
Director |
05-05-06 |
05-05-06 |
Active |
NO |
|
Name : |
Mrs. Kandrikar Thaseen Fathima |
|
Designation : |
Whole Time Director |
|
Address : |
|
|
Date of Birth/Age : |
31.07.1969 |
|
Date of Appointment : |
11.12.2001 |
|
DIN No.: |
00390132 |
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 |
U18209TN1987PTC014898 |
Floram Shoes ( |
Director |
13-09-90 |
13-09-90 |
Active |
NO |
|
2 |
U19111TN2001PTC048052 |
Eastern Chrome
Tanning Corporation Private Limited |
Whole-time
director |
11-12-01 |
11-12-01 |
Active |
NO |
|
3 |
U19201TN1985PTC011880 |
Flora Footwear
Private Limited |
Director |
07-01-02 |
07-01-02 |
Active |
NO |
|
Name : |
Mrs. Thadey Mohamadi Begum |
|
Designation : |
Director |
|
Address : |
5/3, |
|
Date of Birth/Age : |
29.04.1951 |
|
Date of Appointment : |
11.12.2001 |
|
DIN No.: |
00241950 |
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 |
U18209TN1987PTC014898 |
Floram Shoes ( |
Director |
22-09-87 |
22-09-87 |
Active |
NO |
|
2 |
U19111TN2001PTC048052 |
Eastern Chrome Tanning
Corporation Private Limited |
Director |
11-12-01 |
11-12-01 |
Active |
NO |
|
3 |
U19201TN1978PTC007590 |
Florind Shoes
Private Limited |
Director |
11-01-02 |
11-01-02 |
Active |
NO |
|
4 |
U19116TN2006PTC059768 |
Florind Uppers
Private Limited |
Director |
10-05-06 |
10-05-06 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Thadey Mohamadi Begum |
190000 |
|
Ahmed Ehsan Kandrikar |
190000 |
|
Fathima Thaseen Kandrikar |
150000 |
|
Maryam Lubna Kandrikar |
150000 |
|
Mansoor Shahid Kandirkar |
190000 |
|
Akmal Mohamed Kandrikar |
190000 |
|
Rahman Ameenur Kandirkar |
190000 |
|
Mashkura Thadey |
190000 |
|
Fathima Naaz |
190000 |
|
Asfia S. |
190000 |
|
Ahmed Shafeeq N. |
90000 |
|
Rahman Hafeezur Kandrikar |
90000 |
|
TOTAL
|
2000000 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of cow leather, goat leather,
leather shoes, finished shoes, shoe uppers. |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS (AS ON : 31.03.20)
|
Particulars |
Actual
Production |
|
Shoe Upper |
153312 |
|
Leather (In Pcs) (including purchase) |
349397 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
v
State Bank of India, Leather and International Branch,
“MVJ” Towers, No.177/1, P. H. Road, Kilpauk, Chennai – 600 010, Tamilnadu,
India v
ABN Amro Bank v
Indian Bank |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R. Venkataramani and Associates Chartered Accountants |
|
Address : |
No.13 (Old No.7) Thiru VI KA, |
|
Tel. No.: |
91-44-24993679 |
|
PAN No.: |
AADER1923Q |
|
|
|
|
Related Parties : |
·
Floram Shoe India Private Limited ·
United India Shoe Corporation Private Limited ·
Unico Leather Products Private Limited ·
Florind Shore Private Limited ·
Florind Shoe Upper Private Limited ·
United India Shoe Uppers Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs. 20.000
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 |
20.000 |
20.000 |
20.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
31.816 |
31.505 |
26.866 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
51.816 |
51.505 |
46.866 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
118.409 |
71.158 |
80.040 |
|
|
2] Unsecured Loans |
8.613 |
8.679 |
8.679 |
|
|
TOTAL BORROWING |
127.022 |
79.837 |
88.719 |
|
|
DEFERRED TAX LIABILITIES |
2.680 |
2.966 |
3.258 |
|
|
SIDBI Subsidy |
3.500 |
3.500 |
3.500 |
|
|
|
|
|
|
|
|
TOTAL |
185.018 |
137.808 |
142.343 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
33.338 |
37.480 |
41.971 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.440 |
0.440 |
0.440 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
212.505
|
91.897
|
307.514 |
|
|
Sundry Debtors |
269.492
|
20.654
|
27.108 |
|
|
Cash & Bank Balances |
25.082
|
23.344
|
19.563 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
111.337
|
440.115
|
261.488 |
|
Total
Current Assets |
618.416
|
576.010 |
615.673 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
381.941
|
456.983
|
505.362 |
|
|
Other Current Liabilities |
71.456
|
7.060
|
0.000 |
|
|
Provisions |
13.779
|
12.079
|
10.379 |
|
Total
Current Liabilities |
467.176
|
476.122 |
515.741 |
|
|
Net Current Assets |
151.240
|
99.888
|
99.932 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
185.018 |
137.808 |
142.343 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
477.549 |
899.801 |
1605.734 |
|
|
|
Other Income |
58.998 |
56.206 |
10.870 |
|
|
|
TOTAL (A) |
536.547 |
956.007 |
1616.604 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption of Raw Materials |
381.058 |
784.529 |
1342.443 |
|
|
|
Manufacturing Expenses |
84.876 |
114.385 |
225.797 |
|
|
|
Repairs and Maintenance |
8.151 |
9.988 |
13.257 |
|
|
|
Administrative Expenses |
20.828 |
14.809 |
11.941 |
|
|
|
Selling and Distribution Expenses |
5.063 |
7.472 |
1.897 |
|
|
|
TOTAL (B) |
499.976 |
931.183 |
1595.335 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
36.571 |
24.824 |
21.269 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
29.870 |
13.726 |
13.878 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
6.701 |
11.098 |
7.391 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4.975 |
5.557 |
6.361 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1.726 |
5.541 |
1.030 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.414 |
0.902 |
3.976 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
0.312 |
4.639 |
(2.946) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
31.504 |
26.865 |
29.811 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
31.816 |
31.504 |
26.865 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
0.000 |
122.023 |
124.141 |
|
|
TOTAL EARNINGS |
0.000 |
122.023 |
124.141 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Consumables |
0.000 |
85.104 |
74.969 |
|
|
|
Leather |
0.000 |
188.802 |
482.127 |
|
|
TOTAL IMPORTS |
0.000 |
273.906 |
557.096 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.16 |
2.32 |
(1.47) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.06
|
0.49
|
(0.18) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.36
|
0.62
|
0.06 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.26
|
0.90
|
0.16 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
0.11
|
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
11.52
|
10.79
|
12.90 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.32
|
1.21
|
1.19 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
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) |
Yes |
|
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] |
Date of Birth
of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
Yes |
FORM 8
|
Corporate identity
number of the company |
U19111TN2001PTC048052 |
|
Name of the
company |
EASTERN CHROME
TANNING CORPORATION PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
29 (Old No.12), College Road, Nugambakkam, Chennai – 600 006, Tamilnadu, India |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
90293969 |
|
Type of charge |
·
Immovable
property ·
Book
debts ·
Movable
property (not being pledge) ·
Others |
|
Particular of
charge holder |
State Bank of India, Leather and International Branch, “MVJ” Towers,
No.177/1, P. H. Road, Kilpauk, Chennai – 600 010, Tamilnadu, India |
|
Nature of
instrument creating charge |
1) Supplemental
Agreement of Loan for increase in the overall limit (Form C.1-A) 2) Supplemental
Agreement of Hypothecation of goods and assets for increase in the overall
limit (Form C.2-A) 3) Letter
regarding the grant of individual limits within the overall limit (Form C.5) 4) Hypothecation
Letter in respect of machines accepted as collateral security for advances. 5) EM Letter
dated 29th March 2012 |
|
Date of
instrument Creating the charge |
29.03.2012 |
|
Amount secured by
the charge |
Rs. 542.500
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Terms of repayment As per agreement Margin Raw Materials :
25% Stock-in-proces :
25% Finished Goods :
25% LC : 10% BG : 10% Extent and operation of the charge As per Agreement |
|
Short particulars
of the property charged (Including location of the property) |
Primary
Security:- EPC / CC (Stocks)
: Hypothecation of entire current assets, viz, Raw Material, Stock in
Process, Finished Goods, Receivables, Stores, Spares, Consumables etc., FDB (Non LC) /
FDB (LC) : Documents of title to goods covered under the bills negotiated in
respect of DP bill and accepted B/E in case of DA bills and extension of
charge on current assets. LC (WC) :
Documents of title to goods / merchandise covered under LCs and charge on the
entire current assets as stipulated for CC (Hypothecation) facility. BG (WC) : Counter
guarantee from the company and extension of charge on the current assets. Clean Term Loan :
Extension of charge over the entire current assets / movable fixed assets of
the company. Term Loan :
Hypothecation of plant and machinery acquired / to be acquired out of term
loan. Collateral
Security:- EM Over leasehold
rights of M/s. Eastern Chrome Tanning Corporation Private Limited over all
that piece and parcel of land and factory buildings thereon situated at Solur
Village, Ambur Taluk, Vellore District, comprised in Survey Nos.73/1, 74/2,
74/3, 74/5 measuring a total extent of 6.39 acres bounded on the North by : Land
and building belonging to Shalimar Tanning Company, South by : Land
Tannery belonging to Kaka Mohamed Ismail Shaib, East by :
Boundaries of Pariyankuppam Village, West by : Chennai
Bangalore NH Road and situated within the registration Sub District of
Vellore and lying within the limits of Solur Panchyat. Hypothecation of
movable fixed assets belonging to the company (present and future). |
|
Date of
instrument modifying the charge |
24.12.2011 |
|
Particulars of
the present modification |
By the present
modification, The various
credit facilities enjoyed by the company now has been enhanced from
Rs.298.500 Millions to Rs, 542.500 Millions Equitable Mortgage
of properties listed in Sl No.15 (vi) to (xi) to cover the enhanced credit
facilities of Rs.542.500 Millions |
FIXED ASSETS
v Building
v Plant and machinery
v Computer
v Vehicles – heavy and light
v Furniture and fittings
v Electrical installation
v Air conditioners
v Firefighting equipment
v Office equipment
v Effluent treatment plant
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. 55.70 |
|
|
1 |
Rs. 87.54 |
|
Euro |
1 |
Rs. 68.85 |
INFORMATION DETAILS
|
Report Prepared by
: |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
16 |
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.