|
Report Date : |
30.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
DORF KETAL SPECIALITY CATALYST PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1, Dorf Ketal Tower, D’ Monte Street, Orlem, Malad (West), Mumbai –
400 064, Maharashtra |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
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|
|
|
Date of
Incorporation : |
01.01.2010 |
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|
|
|
Com. Reg. No.: |
11-198273 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 26.000 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24233MH2010PTC198273 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMD17731A |
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|
|
|
PAN No.: [Permanent Account No.] |
AADCD3088K |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of Specialty Chemicals. |
|
|
|
|
No. of Employees
: |
75 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1290000 |
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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 subsidiary of Dorf - Ketal Chemicals India Private
Limited. It is an established company having satisfactory track record. It has recently
commenced its commercial operation from April 2011 and achieved a sizeable
turnover. Trade relations are reported as fair. Business is active. Payments
are reported to be usually correct and as per commitments. The concern 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 – 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 |
A- (Long Term Rating) |
|
Rating Explanation |
This rating are considered to have adequate degree
of safety regarding timely servicing of financial obligation such Instrument
carry low credit risk |
|
Date |
August 2011 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A1 (Short Term Rating) |
|
Rating Explanation |
This rating are considered to have very
strong degree of safety regarding timely payment of financial obligation such
Instrument carry lowest credit risk |
|
Date |
August 2011 |
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 : |
1, Dorf Ketal Tower, D’ |
|
Tel. No.: |
91-22-28880420 /21 /22 /23 / 28833901 |
|
Fax No.: |
91-22-28813655 |
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E-Mail : |
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|
Website : |
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|
Area : |
107500 sq ft |
|
Location : |
Owned |
|
|
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|
Factory : |
Plot Survey No.141, Near Water Treatment Plant of MPSEZ, Mundra-Kutch
– 370 421, |
|
Area : |
75000 sq m (Approximately) |
|
Location : |
Owned |
DIRECTORS
As on 27.09.2011
|
Name : |
Mr. Subodh Vijayraghava Menon |
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Designation : |
Director |
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Address : |
401, Swapna Lok, |
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Date of Birth/Age : |
08.08.1971 |
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Qualification : |
B.Sc. |
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DIN No.: |
00972842 |
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Other
directorship:
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|
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Name : |
Mr. Sudhir Vijayaraghav Menon |
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Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Address : |
5/501, Swapna Lok, |
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Date of Birth/Age : |
27.06.1963 |
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Qualification : |
Chemical Engineer, LLB, MBA |
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DIN No.: |
02487658 |
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Other
directorship:
|
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|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Naresh Prakashchand Aggarwal |
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Designation : |
Additional Director |
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Address : |
Plot No.20, Rajkamal Apartment, |
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Date of Birth/Age : |
28.03.1951 |
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Date of Appointment : |
12.08.2010 |
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DIN No.: |
00940482 |
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KEY EXECUTIVES
|
Name : |
Mr. Ashok Rao |
|
Designation : |
Finance Manager |
|
Contact No: |
91-22-28833900 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Sudhir Menon |
|
2500 |
|
Subodh Menon |
|
2500 |
|
Dorf Ketal Chemicals India Private Limited, India |
|
2595000 |
|
Total |
|
2600000 |
As on 27.09.2011
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 : |
Manufacturer of Speciality Chemicals. |
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|
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GENERAL INFORMATION
|
No. of Employees : |
75 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
S.S. Gajja and Company Chartered Accountants |
|
Address : |
Andheri (East), Mumbai – 400 069, |
|
Tel. No.: |
91-22-26833093 |
|
Fax No.: |
91-22-26834094 |
|
PAN No: |
AAAFS4063K |
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|
|
|
Associates/Subsidiaries : |
Dorf Ketal
Chemicals ( Address: Line of Business: Manufacturer of Speciality Chemicals. Tel. No.: 91-22-28880420/ 421/ 422/ 423 Fax No.: 91-22-28813655 E-Mail: queries.india@dorfketal.com Dorf Ketal
Chemicals LLC 3727, Greenbriar, Tel. No.: 281 491 3700 Fax No.: 281 491 3733 E-Mail: queries.northamerica@dorfketal.com Dorf Ketal Avenida das Indústrias 1345, Tel. No.: +55 51 3061 2211 Fax No.: +55-51 3019 0890 E-Mail: queries.brazil@dorfketal.com India Dorf Ketal Chemicals
Private Limited Pudong District, Shanghai-200122, Tel. No.: +86 1560 225 5419 E-Mail: queries.china@dorfketal.com Dorf Ketal Chemicals Pte.
Limited 25 International Business Park, #03-72 German H/P: +65 8268 1435 Tel. No.: +65 6562 8250 Fax No.: +65 6562 8253 E-Mail: queries.singapore@dorfketal.com Dorf Ketal B.V. De Ring, Weegschaalstraat 3, 5632 CW, Tel. No.: +31-40.290.13.85 E-Mail: queries.europe@dorfketal.com Dorf Ketal
Chemicals ( Tel. No.: +97 33 678 0547 E-Mail: queries.bahrain@dorfketal.com |
CAPITAL STRUCTURE
After: 27.09.2011
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000000 |
|
Rs.10/- each |
Rs.400.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
37000000 |
|
Rs.10/- each |
Rs.370.000
millions |
|
|
|
|
|
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs. 30.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2600000 |
Equity Shares |
Rs.10/- each |
Rs. 26.000 millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
26.000 |
26.000 |
|
|
2] Share Application Money |
|
297.612 |
0.108 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
323.612 |
26.108 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
530.395 |
0.000 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
530.395 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
854.007 |
26.108 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
4.820 |
0.000 |
|
|
Capital work-in-progress |
|
702.477 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
24.249 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
62.081
|
0.000 |
|
|
Sundry Debtors |
|
0.000
|
0.809 |
|
|
Cash & Bank Balances |
|
13.410
|
0.000 |
|
|
Other Current Assets |
|
0.000
|
0.000 |
|
|
Loans & Advances |
|
76.792
|
25.041 |
|
Total
Current Assets |
|
152.283
|
25.850 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
0.000
|
0.000 |
|
|
Other Current Liabilities |
|
30.496
|
0.067 |
|
|
Provisions |
|
0.000
|
0.028 |
|
Total
Current Liabilities |
|
30.496
|
0.095 |
|
|
Net Current Assets |
|
121.787
|
25.755 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.674 |
0.353 |
|
|
|
|
|
|
|
|
TOTAL |
|
854.007 |
26.108 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
0.000 |
0.000 |
|
|
|
Other Income |
|
0.096 |
0.000 |
|
|
|
TOTAL |
|
0.096 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase |
|
0.000 |
0.000 |
|
|
|
Direct Expenses |
|
0.000 |
0.000 |
|
|
|
Other Expenses |
|
0.306 |
0.000 |
|
|
|
TOTAL |
|
0.306 |
0.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
(0.210) |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
(0.210) |
0.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
0.110 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
(0.320) |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
|
(0.320) |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
(0.320) |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
(0.12) |
NA |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
1100.000 |
|
|
|
|
|
Expected Sales (2012-2013): Rs.2000.000 millions
The above information has been parted by Mr. Ashok Rao.
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
|
(333.33) |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
(0.20) |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.00
|
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
1.73 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
4.99 |
272.11 |
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 |
Yes |
|
9] |
Name
of person contacted |
Yes |
|
10] |
Designation
of contact person |
Yes |
|
11] |
Turnover
of firm for last three years |
Yes |
|
12] |
Profitability
for last two years |
Yes |
|
13] |
Reasons
for variation <> 20% |
-- |
|
14] |
Estimation
for coming financial year |
Yes |
|
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] |
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 |
Bankers Charges Report
as per Registry
|
Corporate
identity number of the company |
U24233MH2010PTC198273
|
|
Name of the
company |
DORF KETAL
SPECIALITY CATALYST PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
1, Dorf Ketal Tower, D’ E-Mail: vaspuja21@yahoo.in |
|
This form is for |
Modification
of charge |
|
Charge identification
(ID) number of the charge to be modified |
10265349 |
|
Type of charge |
|
|
Particular of
charge holder |
Axis Bank Limited, Laxmi The Mall, Bldg No 5, Laxmi Industrial Estate, New Link Road, Andheri (W), Mumbai - 400053, Maharashtra, India |
|
Nature of
instrument creating charge |
Supplemental
Simple Mortgage {SSM} dated 30.12.2011. |
|
Date of instrument
Creating the charge |
30.12.2011 |
|
Amount secured by
the charge |
Rs.1320.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As per Sanction Letter
No. AXISB/CO/MC/NA/0227/11-12 dated 26.07.2011 or as stipulated by Bank from
time to time. Terms of Repayment As per Sanction Letter No.
AXISB/CO/MC/NA/0227/11-12 dated 26.07.2011 or as stipulated by Bank from time
to time. Margin As per Sanction
Letter No. AXISB/CO/MC/NA/0227/11-12 dated 26.07.2011 or as stipulated by
Bank from time to time. Extent and Operation of the charge Security of Imm.
prop. viz. Land situated at SEZ in Mundra, Dist. Kutch, Gujarat adm. 74,374
sq. mtrs. togetherwith Bldgs., structures, other assets thereon, des. in Sch.
to SSM incl. all rights, liberties, privileges, easement, etc. in respect
thereof, given earlier as security by way of paripassu charge with SBI, shall
extend as security for addl. facilities of Rs.500.000 millions granted by
Bank by pari passu 2nd charge. Thus total amt. secured on above property
increased from Rs.820.000 millions. to Rs.1320.000 millions. Others The aforesaid
Imm. Property given as security by way of 1st Pari passu charge to secure credit
facilities of Rs.820.000 millions. and 2nd pari passu charge to secure credit
facilities of Rs.500.000 millions. |
|
Short particulars
of the property charged |
Pari passu 1st charge on present and future P and M, fittings, fixtures etc., lying on the premises of the Co. or elsewhere or in the course of transit. Pari passu 1st charge on present and future stock of RM, SIP, FG wheresoever situated and/or in the course of transit. Pari passu 1st charge on present and future Book Debts, outstanding money receivables, claims, bills, etc. due and owing to Co. during the course of its business. All rights, title and int. of Co. in Land situated at SEZ in Mundra, Dist. Kutch, Gujarat adm. 74,374 sq. mtrs. Or thereabout by way of Simple Mortgage on pari passu with SBI. |
|
Date of latest
modification prior to the present modification |
30.11.2011 |
|
Particulars of
the present modification |
Security of Imm. prop. viz. Land situated at SEZ in Mundra, Dist. Kutch, Gujarat adm. 74,374 sq. mtrs. together with Bldgs., structures, other assets thereon, des. in Sch. to SSM incl. all rights, liberties, privileges, easement, etc. in respect thereof, given earlier as security by way of paripassu charge with SBI, shall extend as security for addl. facilities of Rs.500.000 millions granted by Bank by pari passu 2nd charge. Thus total amt. secured on above property increased from Rs.820.000 millions. to Rs.1320.000 millions |
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 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 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.55.67 |
|
|
1 |
Rs.88.05 |
|
Euro |
1 |
Rs.69.92 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
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 |
|
46 |
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.