|
Report Date : |
01.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
CHIRIPAL POLY FILMS LIMITED |
|
|
|
|
Registered
Office : |
109/110,
Peninsula Centre, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
31.08.2009 |
|
|
|
|
Com. Reg. No.: |
11-195352 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.17.871
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17120MH2009PLC195352 |
|
|
|
|
IEC No.: |
0810007266 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCC7403M |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of BOPP Films, Busbar Grade Film, Multi Layered Film,
Clear BOPP Films, etc. |
|
|
|
|
No. of Employees
: |
130 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1190000 |
|
|
|
|
Status : |
Recently commenced business activity |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Even though the subject was incorporated during August 2009, it has
commenced its business activity recently during January 2012. Networth of the company appears to be good. Trade relations are
improving. Business is active. Payments terms are unknown. The company can be considered for business dealings with some
cautions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to become
a major exporter of information technology services and software workers. In
2010, the Indian economy rebounded robustly from the global financial crisis -
in large part because of strong domestic demand - and growth exceeded 8%
year-on-year in real terms. However, India's economic growth in 2011 slowed
because of persistently high inflation and interest rates and little progress
on economic reforms. High international crude prices have exacerbated the
government's fuel subsidy expenditures contributing to a higher fiscal deficit,
and a worsening current account deficit. Little economic reform took place in
2011 largely due to corruption scandals that have slowed legislative work.
India's medium-term growth outlook is positive due to a young population and
corresponding low dependency ratio, healthy savings and investment rates, and
increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Bank facility rating : BB |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
September 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.
INFORMATION PARTED BY
|
Name : |
Mr. Rajesh |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-9820606685 |
|
Date : |
30.11.2012 |
LOCATIONS
|
Registered Office/ Branch Office : |
109/110,
Peninsula Centre, |
|
Tel. No.: |
91-22-66604123 |
|
Mobile No.: |
91-9820606685 (Mr. Rajesh) |
|
Fax No.: |
91-22-66604123 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office (Correspondence Address) : |
Chiripal House, Shivranjani Cross Roads, Satellite, Ahmedabad – 380
015, |
|
Tel. No.: |
91-79-26734660/ 2/ 3 |
|
Fax No.: |
91-79-26768656 |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Plot No.14, Vraj Integrated |
|
Tel. No.: |
91-79-26734660/ 2/ 3 |
|
Fax No.: |
91-79-26768656 |
|
Location : |
Owned |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Jaiprakash Devkinandan Chiripal |
|
Designation : |
Director |
|
Address : |
10, Nandi Hill Society, |
|
Date of Birth/Age : |
02.11.1959 |
|
Date of Appointment : |
31.08.2009 |
|
DIN No.: |
00155430 |
|
|
|
|
Name : |
Mr. Jyotiprasad Devkinandan Chiripal |
|
Designation : |
Director |
|
Address : |
91, Basant Bahar Bunglow, Bopal, Ahmedabad – 380 058, |
|
Date of Birth/Age : |
21.08.1953 |
|
Date of Appointment : |
31.08.2009 |
|
DIN No.: |
00155695 |
|
|
|
|
Name : |
Mr. Vedprakash Devkinandan Chiripal |
|
Designation : |
Director |
|
Address : |
11, Nandi Hill Society, |
|
Date of Birth/Age : |
21.11.1951 |
|
Date of Appointment : |
31.08.2009 |
|
DIN No.: |
00290454 |
KEY EXECUTIVES
|
Name : |
Mr. Rajesh |
|
Designation : |
Accounts Manager |
|
|
|
|
Name : |
Mr. Dilip Singh |
|
Designation : |
Manager (Purchase Department) |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Jaiprakash D. Chiripal |
|
66000 |
|
Vedprakash D. Chiripal |
|
64000 |
|
Jyotiprasad D. Chiripal |
|
64000 |
|
Vishal V. Chiripal |
|
122000 |
|
Deepak J. Chiripal |
|
122000 |
|
Rajesh Bindal |
|
1000 |
|
Amit Bindal |
|
1000 |
|
Brijmohan D. Chiripal |
|
50000 |
|
Priyanka B. Agarwal |
|
60000 |
|
Manjudevi J. Chiripal |
|
250000 |
|
Nidhi J. Agarwal |
|
75000 |
|
Ruchi B. Agarwal |
|
65000 |
|
Ronak B. Agarwal |
|
100000 |
|
Pritidevi B. Chiripal |
|
100000 |
|
Urmiladevi J. Agarwal |
|
120000 |
|
Savitridevi V. Chiripal |
|
120000 |
|
Vineeta V. Chiripal |
|
85000 |
|
Nitika D. Chiripal |
|
85000 |
|
Desert Diamond General Trading LLC, U.A.E. |
|
12977 |
|
Neelam Sharma |
|
13462 |
|
Shyamsunder Sharma |
|
4171 |
|
Bhushan Petrofils Private Limited, |
|
35000 |
|
Shanti Educational Initiatives Limited, |
|
5500 |
|
Chiripal Textile Mills Private Limited, |
|
30000 |
|
Dindayal Processors Private Limited, |
|
35000 |
|
Sparow Exports Private Limited, |
|
70000 |
|
Vijay Subham Contrade Private Limited, |
|
1000 |
|
Prakash Calender Private Limited, |
|
30000 |
|
Orange Mauritius Investment Limited, |
|
198000 |
|
Total |
|
1985110 |
AS ON 21.08.2012
|
Names of Shareholders |
|
No. of Shares |
|
Jaiprakash D. Chiripal |
|
66000 |
|
Vedprakash D. Chiripal |
|
64000 |
|
Jyotiprasad D. Chiripal |
|
64000 |
|
Vishal V. Chiripal |
|
122000 |
|
Deepak J. Chiripal |
|
122000 |
|
Rajesh Bindal |
|
1000 |
|
Amit Bindal |
|
1000 |
|
Brijmohan D. Chiripal |
|
50000 |
|
Priyanka B. Agarwal |
|
60000 |
|
Manjudevi J. Chiripal |
|
250000 |
|
Nidhi J. Agarwal |
|
75000 |
|
Ruchi B. Agarwal |
|
65000 |
|
Ronak B. Agarwal |
|
100000 |
|
Pritidevi B. Chiripal |
|
100000 |
|
Urmiladevi J. Agarwal |
|
120000 |
|
Savitridevi V. Chiripal |
|
120000 |
|
Vineeta V. Chiripal |
|
85000 |
|
Nitika D. Chiripal |
|
85000 |
|
Desert Diamond General Trading LLC, U.A.E. |
|
12977 |
|
Neelam Sharma |
|
13462 |
|
Shyamsunder Sharma |
|
4171 |
|
Bhushan Petrofils Private Limited, |
|
35000 |
|
Shanti Educational Initiatives Limited, |
|
5500 |
|
Chiripal Textile Mills Private Limited, |
|
30000 |
|
Dindayal Processors Private Limited, |
|
35000 |
|
Sparow Exports Private Limited, |
|
70000 |
|
Vijay Subham Contrade Private Limited, |
|
1000 |
|
Prakash Calender Private Limited, |
|
30000 |
|
Orange Mauritius Investment Limited, |
|
198000 |
|
Total |
|
1985110 |
AS ON 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
11.52 |
|
Bodies
corporate |
|
10.40 |
|
Directors
or relatives of directors |
|
78.08 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of BOPP Films, Busbar Grade Film, Multi Layered Film,
Clear BOPP Films, etc. |
|
|
|
|
Exports : |
|
|
Products : |
Ø BOPP Films Ø Busbar Grade
Film Ø Multi Layered
Film Ø Clear BOPP Films
Ø BOPP Metallized
Films Ø BOPP Glossy
Films |
|
Countries : |
UAE |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
Ø Thailand Ø UAE Ø Germany |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Installed
Capacity |
Actual
Production |
|
BOPP Films, Busbar Grade Film, Multi Layered Film, Clear BOPP Films,
BOPP Metallized Films, BOPP Glossy Films.
|
214 metric ton
per month |
80% |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
130 (Approximately) |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
Ø Punjab National
Bank, Mid Corporate Branch, 12/14, Brady House, V.N. Road, Fort, Mumbai – 400
023, Maharashtra, India Ø Oriental Bank of
Commerce, Large Corporate Branch, 181-A, Maker Tower 'E', 18th
Floor, Cuffe Parade, Mumbai – 400 005, Maharashtra, India Ø Oriental Bank of
Commerce, Ahmedabad, Gujarat, India Ø IDBI Bank
Limited Ø Axis Bank
Limited Ø The Kalupur Commercial Co-Operative Bank Limited |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
TL – Rs. 350.000 Millions (Punjab National Bank) TL – RS. 370.000 Millions (Oriental Bank of Commerce)
|
|||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
G.K. Choksi and Company Chartered Accountants |
|
Address : |
“Madhuban”, Near |
|
Tel. No.: |
91-79-30012009 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFG7623H |
|
|
|
|
Sister Concerns : |
Ø Chiripal
Industries Limited Ø Nandan Exim
Limited Ø Vishal Fabrics
Private Limited |
CAPITAL STRUCTURE
AS ON 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs. 100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3970220 |
Equity Shares |
Rs.10/- each |
Rs. 39.702 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 |
|
|
|
|
|
|
1787110 |
Equity Shares |
Rs.10/- each |
Rs.17.871
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 |
|
17.871 |
15.500 |
|
|
2] Share Application Money |
|
44.710 |
43.157 |
|
|
3] Reserves & Surplus |
|
234.908 |
0.043 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
297.489 |
58.700 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.611 |
0.000 |
|
|
2] Unsecured Loans |
|
44.973 |
0.100 |
|
|
TOTAL BORROWING |
|
45.584 |
0.100 |
|
|
DEFERRED TAX LIABILITIES |
|
0.066 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
343.139 |
58.800 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
1.873 |
0.006 |
|
|
Capital work-in-progress |
|
216.479 |
1.075 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
8.171 |
5.716 |
|
|
DEFERRED TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.000 |
0.000 |
|
|
Sundry Debtors |
|
0.584 |
0.584 |
|
|
Cash & Bank Balances |
|
102.569 |
0.340 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
30.178 |
55.420 |
|
Total
Current Assets |
|
133.331 |
56.344 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
16.016 |
3.658 |
|
|
Other Current Liabilities |
|
0.475 |
0.503 |
|
|
Provisions |
|
0.224 |
0.180 |
|
Total
Current Liabilities |
|
16.715 |
4.341 |
|
|
Net Current Assets |
|
116.616 |
52.003 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
343.139 |
58.800 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Commission Income |
|
0.882 |
0.649 |
|
|
|
Other Income |
|
0.003 |
0.000 |
|
|
|
TOTAL |
|
0.885 |
0.649 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Administrative and Other Expenses |
|
0.359 |
0.386 |
|
|
|
Employees’ Cost and Benefits |
|
0.205 |
0.040 |
|
|
|
TOTAL |
|
0.564 |
0.426 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
0.321 |
0.223 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
0.085 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
0.236 |
0.223 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
0.109 |
0.181 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
0.127 |
0.042 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
0.042 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
0.169 |
0.042 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
0.78 |
0.03 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
|
14.35 |
6.47 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
26.67 |
34.36 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
0.17 |
0.40 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
0.21 |
0.08 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
7.98 |
12.98 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
|
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
Sundry Creditors |
|
16.016 |
3.658 |
|
|
|
|
|
|
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
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 |
Yes |
|
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 |
PERFORMANCE:
During the year, the total income generated was
Rs.0.885 million as compared to the total income of Rs.0.649 million over the
previous year and the Net profit after Tax was Rs.0.127 million as compared to
previous year’s profit of Rs.0.042 million. However, the Directors would like
to state that the Company is implementing the project and commercial activities
are yet to commence and the Directors expect to implement the project during
the current year.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U17120MH2009PLC195352 |
|
Name of the
company |
CHIRIPAL POLY FILMS LIMITED |
|
Address of the
registered office or of the principal place of business in |
109/110,
Peninsula Centre, E-Mail: cs.gen@chiripalgroup.com |
|
This form is for |
Creation of
charge |
|
Type of charge |
Immovable
Property Others
(Subservient Charge on all fixed assets) |
|
Particular of
charge holder |
Punjab National
Bank, Mid Corporate Branch, 12/14, Brady House, E-Mail: pnbbradyhouse@rediffmail.com |
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental
Joint Deed of Hypothecation by way of Subservient Charge dated 03.02.2012. |
|
Date of
instrument Creating the charge |
03.02.2012 |
|
Amount secured by
the charge |
Rs.1100.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: BR + 3% =
(presently 13.75 with monthly rests) as per respective sanction by member
banks. Terms of Repayment: One year subject
to renewal as per respective sanction by member banks. Margin: For Fund Based: 25% on stock 25% on book debts For Non Fund
Based: 10% as per respective
sanction by member banks. Extent and Operation of the charge: The hypothecation
charge by way of subservient charge on pari passu basis over all fixed assets
to member banks as per second schedule of Supplemental Joint Deed of
Hypothecation by way of Subservient Charge dated 03.02.2012. |
|
Short particulars
of the property charged |
The description
of hypothecated assets by way of Subservient Charge to be set up at Plot
No.14, Vraj Integrated Textile Park Limited, N.H. No.8, Ahmedabad-Baroda Highway, Village Bidaj,
Taluka and District: Kheda - 397420 (Gujarat). |
FIXED ASSETS:
Tangible Assets
Ø Office Equipments
Ø Computer
Ø Furniture
Ø Vehicle
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. 54.53 |
|
|
1 |
Rs. 87.48 |
|
Euro |
1 |
Rs. 70.89 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
29 |
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.