1. Summary Information
|
|
|
Country |
|
|
Company Name |
Karnani Solves Private Limited |
Principal Name 1 |
Mr. Sanjay Kumar Karnani |
|
Status |
Moderate |
Principal Name 2 |
Mr. Narayan Karnani |
|
|
|
Registration # |
17-025558 |
|
Street Address |
M-8, Mahesh Colony, Tonk Phatak, Jaipur – 302015, Rajasthan, India |
||
|
Established Date |
20.12.2007 |
SIC Code |
-- |
|
Telephone# |
Not Available |
Business Style 1 |
Manufacturer |
|
Fax # |
Not Available |
Business Style 2 |
Exporter |
|
Homepage |
Product Name 1 |
Rapeseed Meal |
|
|
# of employees |
Not Available |
Product Name 2 |
De-Oiled Cake |
|
Paid up capital |
Rs.12,860,000/- |
Product Name 3 |
Other Food Grains |
|
Shareholders |
Bodies corporate -0.47%,
Directors or relatives of directors- 98.83%, Other top fifty shareholders-
0.70% |
Banking |
Bank of Baroda |
|
Public Limited Corp. |
No |
Business Period |
5 years |
|
IPO |
No |
International Ins. |
-- |
|
Public |
No |
Rating |
B (27) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
79,641,000 |
Current Liabilities |
36,005,000 |
|
Inventories |
24,245,000 |
Long-term Liabilities |
125,433,000 |
|
Fixed Assets |
119,248,000 |
Other Liabilities |
2,489,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
163,927,000 |
|
Invest& other Assets |
326,000 |
Retained Earnings |
46,669,000 |
|
|
|
Net Worth |
59,533,000 |
|
Total Assets |
223,460,000 |
Total Liab. & Equity |
223,460,000 |
|
Total Assets (Previous Year) |
69,936,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales (Gross Income) |
424,520,000 |
Net Profit |
2,929,000 |
|
Sales(Previous yr) (Gross Income) |
Nil |
Net Profit(Prev.yr) |
Nil |
|
Report Date : |
05.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
KARNANI SOLVEX PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
M-8, Mahesh Colony, Tonk Phatak, Jaipur – 302015, Rajasthan |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
20.12.2007 |
|
|
|
|
Com. Reg. No.: |
17-025558 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.12.860
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15143RJ2007PTC025558 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Rapeseed Meal/De-Oiled Cake/Other Food
Grains/ Mustard Oil/ Guar Gum Powder. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 240000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. There appears
decline in the profitability in the year 2009-2010. And the financial details
for the year 2010-11 is missing from government department. However, trade relations are reported to be fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealing 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.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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 |
CRISIL |
|
Rating |
Cash Credit: BB |
|
Rating Explanation |
Having moderate risk of default regarding
timely servicing of financial obligation. |
|
Date |
July, 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 : |
M-8, Mahesh Colony, Tonk Phatak, Jaipur – 302015, Rajasthan, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Administrative Office : |
‘Mangalam’ 291, Dadu Marg, Barkat Nagar, Tonk Phatak, Jaipur – 302015,
Rajasthan, India |
|
Tel. No.: |
91-141-2597963/64/65 |
|
Fax No.: |
91-141-2597962 |
|
E-Mail : |
|
|
|
|
|
Factory 1: |
Opposite HP Petrol Pump, 3km. Far From Banskho Railway Phatak Towards Dausa, Main Agra Road, Jaipur, Rajasthan, India |
|
|
|
|
Factory 2: |
E-1, RIICO Industrial Area, Didwana, Lalsot, Dausa, Rajasthan, India |
|
|
|
|
Factory 3: |
29, Sector-15 , Phase-II , GC Bawal, Rewadi Haryana, India |
DIRECTORS
(AS ON 30.09.2011)
|
Name : |
Mr. Sanjay Kumar Karnani |
|
Designation : |
Director |
|
Address : |
M-8, Mahesh Colony, Tonk Phatak, Jaipur – 302015, Rajasthan, India |
|
Date of Birth/Age : |
29.09.1977 |
|
Date of Appointment : |
20.12.2007 |
|
DIN No.: |
00964275 |
|
|
|
|
Name : |
Mr. Narayan Karnani |
|
Designation : |
Director |
|
Address : |
M-8, Mahesh Colony, Tonk Phatak, Jaipur – 302015, Rajasthan, India |
|
Date of Birth/Age : |
30.03.1984 |
|
Date of Appointment : |
20.12.2007 |
|
DIN No.: |
00964337 |
|
|
|
|
Name : |
Mr. Satendra Pal Tiwari |
|
Designation : |
Director |
|
Address : |
21, Shakti Nagar, J L N Marg, Jaipur – 302019, Rajasthan, India |
|
Date of Birth/Age : |
12.12.1955 |
|
Date of Appointment : |
15.09.2008 |
|
DIN No.: |
01589045 |
|
|
|
|
Name : |
Mrs. Gouri Shankar Dhamani |
|
Designation : |
Director |
|
Address : |
255-56, Dhamani Bhawan, Sumerkaran Rasta, Ramganj, Jaipur – 302001,
Rajasthan, India |
|
Date of Birth/Age : |
21.07.1977 |
|
Date of Appointment : |
15.09.2008 |
|
DIN No.: |
02338238 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2011)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Sanjay Kumar Karnani |
|
304980 |
|
Narayan Karnani |
|
165000 |
|
Sapna Karnani |
|
306500 |
|
Sharda Devi
Karnani |
|
240000 |
|
Shiv Ratan Karnani |
|
254500 |
|
Arun Kumar Das |
|
1000 |
|
Dilip Kumar
Agarwal |
|
1000 |
|
Rbin Dwa |
|
1000 |
|
Sanju Pareek |
|
2000 |
|
SSukhmay Day |
|
1000 |
|
Vijay Pal |
|
1000 |
|
Harish Kumar |
|
1000 |
|
Chhote Lal Meena |
|
1000 |
|
Blue Stone
Readymade Garments Private Limited, India |
|
6000 |
|
Rajesh Sharma HUF |
|
10 |
|
Manju Sharma |
|
10 |
|
|
|
|
|
Total |
|
1286000 |
(AS ON 30.09.2011)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
0.47 |
|
Directors or relatives of directors |
|
98.83 |
|
Other top fifty shareholders |
|
0.70 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Rapeseed Meal/De-Oiled Cake/Other Food
Grains/ Mustard Oil/ Guar Gum Powder. |
||||||
|
|
|
||||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
Unit |
Actual
Production |
|
|
|
|
|
Edible Oils (Vegetable and Refined Oil) |
(In Metric
Tonnes) |
2,485.770 |
|
De-Oiled Cakes |
(In Metric
Tonnes) |
31,412.230 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
· Bank of Baroda G-1/168,
Sitapura Industrial Area, Jaipur – 302022, Rajasthan, India |
||||||||||||||||||||||||||||||||||||||||||||||||
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Facilities : |
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B. L. Dusad and Company Chartered Accountant |
|
Address : |
Khetan Bhawan, M. I. Road, Jaipur – 302001, Rajasthan, India |
|
PAN No.: |
AACFB6800D |
CAPITAL STRUCTURE
(AS ON 30.09.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.10/- each |
Rs.15.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1359900 |
Equity Shares |
Rs.10/- each |
Rs.13.599
Millions |
|
|
|
|
|
(AS ON 31.03.2010)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.10/- each |
Rs.15.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1286000 |
Equity Shares |
Rs.10/- each |
Rs.12.860
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
12.860 |
12.720 |
0.100 |
|
|
2] Share Application Money |
0.004 |
0.100 |
0.000 |
|
|
3] Reserves & Surplus |
46.669 |
42.480 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
59.533 |
55.300 |
0.100 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
119.631 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
5.802 |
9.655 |
0.000 |
|
|
TOTAL BORROWING |
125.433 |
9.655 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
1.674 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
186.640 |
64.955 |
0.100 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
119.248 |
0.000 |
0.000 |
|
|
Capital work-in-progress |
0.000 |
54.996 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
24.245
|
0.000 |
0.000 |
|
|
Sundry Debtors |
51.287
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
12.786
|
2.586 |
0.081 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
15.568
|
11.004 |
0.000 |
|
Total
Current Assets |
103.886
|
13.590 |
0.081 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
34.779
|
4.864 |
0.006 |
|
|
Other Current Liabilities |
1.226
|
0.117 |
0.000 |
|
|
Provisions |
0.815
|
0.000 |
0.000 |
|
Total
Current Liabilities |
36.820
|
4.981 |
0.007 |
|
|
Net Current Assets |
67.066
|
8.609 |
0.075 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.326 |
1.350 |
0.025 |
|
|
|
|
|
|
|
|
TOTAL |
186.640 |
64.955 |
0.100 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL (A) |
424.520 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
405.771 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
18.749 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
6.833 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
11.916 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
6.498 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
5.418 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.489 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
2.929 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.28 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.69
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.43
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.73
|
0.26 |
0.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.82
|
2.73 |
11.57 |
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 |
No |
|
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 |
No |
|
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 |
FINANCIAL RESULTS
The
company has successfully implemented its modern technology project of edible oil
manufacturing unit by way of solvent extraction method at Village: Gothda, Post
Hansmahal, Tehsil: Bassi, Jaipur. The project started its commercial operations
from September, 2009 and since then the plant is running smoothly. However the
company faced some initial technical teething problems, which were suitably,
tackled keeping in view the lowest cost of processing.
REVIEW OF OPERATIONS AND FINANCIAL POSITION
The gross
income during the period was Rs.424.520 Millions for period of 7 months only.
Further during the period the profit after tax has been Rs.2.929 Millions. The
performance of the company has been satisfactory in view of first year of
operation.
CONTINGENT LIABILITIES
|
Particulars |
31.03.2010 (Rs. In
Millions) |
|
|
|
|
Guarantee issued by bank for which counter
guarantee given by company (Previous year Rs.Nil) |
0.216 |
FORM 8
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10332048 |
|
Corporate
identity number of the company |
U15143RJ2007PTC025558 |
|
Name of the
company |
KARNANI SOLVEX
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
M-8, Mahesh
Colony, Tonk Phatak, Jaipur – 302015, Rajasthan, India |
|
Type of charge |
Other: Corporate
Guarantee |
|
Particular of
charge holder |
Bank of Baroda G-1/168, Sitapura
Industrial Area, Jaipur – 302022, Rajasthan, India |
|
Nature of
description of the instrument creating or modifying the charge |
Corporate Guarantee
- LDOC 33(A) |
|
Date of
instrument Creating the charge |
28/09/2012 |
|
Amount secured by
the charge |
Rs.150.000
Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest Not Applicable Terms of
Repayment Not Applicable Margin Not Applicable Extent and
Operation of the charge Company has
extended corporate guarantee to M/s Tripple Star Agri Private Limited for
credit facility of Rs. 100.000 Millions and term loan of Rs.50.000 Millions.
Total Rs.150.000 Millions. |
|
Short particulars
of the property charged |
Corporate
Guarantee to secure the credit facilities of Rs.100.000 Millions and Term
Loan of Rs.50.000 Millions granted to Tripple Star Agri Private Limited. |
|
Date of latest
modification prior to the present modification |
20.01.2012 |
|
Particulars of
the present modification |
Corporate
Guarantee to secure CC of Rs.20.000 Millions extended to Rs.100.000 Millions and
Fresh Sanction of Rs.50.000 Millions of Term Loan granted to Tripple Star
Agri Private Limited. |
FIXED ASSETS:
· Land
· Factory Building
· Plant and Machinery
· Furniture and Fixtures
· Vehicles
· Other Equipment
· Computers
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 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.54.56 |
|
|
1 |
Rs.87.46 |
|
Euro |
1 |
Rs.71.08 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
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.