MIRA
INFORM REPORT
|
Report Date : |
01.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
BILL FORGE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit No. 9C, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
23.12.1982 |
|
|
|
|
Com. Reg. No.: |
08-005086 |
|
|
|
|
Paid-up Capital
: |
Rs. 10.692 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51392KA1982PTC005086 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRB03712C BLRB00784A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Automobile Spare Parts |
|
|
|
|
No. of Employees
: |
2000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office/Factory 1 : |
Unit No. 9C, |
|
Tel. No.: |
91-80-27832325 |
|
Fax No.: |
91-80-27832127 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
2.5 Acres |
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
98 L, Kiadb Industrial Area, Phase II, Jigani, |
|
Tel. No.: |
91-80-27826993 |
|
Fax No.: |
91-80-27826943 |
|
Area : |
2.9 Acres |
|
Location : |
Owned |
DIRECTORS
AS ON 17.09.2011
|
Name : |
Mr. Girish Nilkanth Kulkarni |
|
Designation : |
Director |
|
Address : |
6, Motisagar, 377, Koluskar Road, South Shivaji Park, Dadar (West),
Mumbai-400028, Maharashtra, India |
|
Date of Birth/Age : |
07.07.1966 |
|
Date of Appointment : |
13.06.2006 |
|
DIN No.: |
00062382 |
Other Directorship:
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Date of cessation |
Company Status |
Defaulting
status |
|
1 |
L45204AP2001PLC057199 |
KSK ENERGY
VENTURES LIMITED |
Director |
26-07-02 |
26-07-02 |
- |
Active |
NO |
|
2 |
L74140AP1987PLC007870 |
DQ ENTERTAINMENT
LIMITED |
Alternate
director |
14-03-03 |
14-03-03 |
- |
Amalgamated |
NO |
|
3 |
U51909MH2004PTC149347 |
GNS OUTSOURCING
PRIVATE LIMITED |
Director |
21-11-04 |
21-11-04 |
- |
Active |
NO |
|
4 |
U51909MH2004PTC149245 |
TOPWAVE TRADING
COMPANY PRIVATE LIMITED |
Director |
25-11-04 |
25-11-04 |
- |
Active |
NO |
|
5 |
U74999MH2004PTC150111 |
SUYASH
OUTSOURCING PRIVATE LIMITED |
Director |
20-12-04 |
20-12-04 |
- |
Active |
NO |
|
6 |
U72900MH1999PTC120346 |
CBAY SYSTEMS
(INDIA) PRIVATE LIMITED |
Director |
02-01-06 |
02-01-06 |
- |
Active |
NO |
|
7 |
U40109AP2005PTC047594 |
KSK ELECTRICITY
FINANCING INDIA PRIVATE LIMITED |
Director |
29-09-06 |
10-05-06 |
04-02-08 |
Active |
NO |
|
8 |
U67120KA1995PTC045373 |
ORDYN
TECHNOLOGIES PRIVATE LIMITED |
Director |
30-09-06 |
12-06-06 |
27-03-09 |
Active |
|
|
9 |
U51392KA1982PTC005086 |
BILL FORGE
PRIVATE LIMITED |
Director |
29-09-06 |
13-06-06 |
- |
Active |
NO |
|
10 |
U34103KA1981PTC004542 |
SANSERA
ENGINEERING PRIVATE LIMITED |
Director |
23-09-06 |
13-06-06 |
- |
Active |
NO |
|
11 |
U29309TN1991PLC020805 |
SERVION T GLOBAL
SOLUTIONS LIMITED |
Director |
27-08-07 |
09-03-07 |
- |
Active |
NO |
|
12 |
U72200KA2006PTC038884 |
ENZEN GLOBAL
SOLUTIONS PRIVATE LIMITED |
Nominee director |
08-01-08 |
08-01-08 |
- |
Active |
NO |
|
13 |
U72200MH2004PTC149043 |
SUYASH IT
SERVICES PRIVATE LIMITED |
Director |
01-05-08 |
01-05-08 |
- |
Active |
NO |
|
14 |
L92113AP2007PLC053585 |
DQ ENTERTAINMENT
(INTERNATIONAL) LIMITED |
Director |
15-09-09 |
26-08-09 |
- |
Active |
NO |
|
15 |
U45201GJ2002PTC041354 |
GATIL PROPERTIES
PRIVATE LIMITED |
Director |
26-07-10 |
05-12-09 |
- |
Active |
NO |
|
16 |
U85110AP2003PTC042107 |
PHOENIX LIVING
SPACES PRIVATE LIMITED |
Nominee director |
30-09-11 |
14-10-10 |
- |
Active |
NO |
|
Name : |
Mr. Anil Haridass |
|
Designation : |
Managing Director |
|
Address : |
Vishranti Farm, Doddakalasandra, Kanakapura Main Road,
Bangalore-560062, Karnataka, India |
|
Date of Birth/Age : |
02.04.1958 |
|
Date of Appointment : |
23.12.1982 |
|
DIN No.: |
00266080 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U51392KA1982PTC005086 |
BILL
FORGE PRIVATE LIMITED |
Managing
director |
23-12-82 |
23-12-82 |
- |
Active |
NO |
|
2 |
U99999DL1959PLC176013 |
AUTOMOTIVE
COMPONENT MANUFACTURERS ASSOCIATION OF INDIA |
Director |
03-09-08 |
03-09-08 |
27-08-10 |
Active |
NO |
|
3 |
U91110PN1965NPL018870 |
ASSOCIATION
OF INDIAN FORGING INDUSTRY |
Additional
director |
18-10-08 |
18-10-08 |
- |
Active |
NO |
|
Name : |
Mr. Sunil Haridass |
|
Designation : |
Director |
|
Address : |
205, Tea Estate Compound, Race Course, Coimbatore-641018, Tamilnadu,
India |
|
Date of Birth/Age : |
06.06.1952 |
|
Date of Appointment : |
01.04.2000 |
|
DIN No.: |
00266235 |
Other Directorship:
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Date of
cessation |
Company Status |
Defaulting
status |
|
1 |
U29120TZ1992PTC003749 |
UNI DRIVELINES
PRIVATE LIMITED |
Director |
01-05-92 |
01-05-92 |
- |
Active |
NO |
|
2 |
U51392KA1982PTC005086 |
BILL FORGE
PRIVATE LIMITED |
Director |
01-04-00 |
01-04-00 |
- |
Active |
NO |
|
3 |
U28123TZ1978PTC000822 |
DECCAN RADIATORS
AND PRESSINGS PRIVATE LIMITED |
Director |
19-05-03 |
19-05-03 |
- |
Amalgamated |
NO |
|
4 |
U34300TZ1972PTC000642 |
UNIVERSAL BRAKES
PRIVATE LIMITED |
Director |
19-05-03 |
19-05-03 |
- |
Amalgamated |
NO |
|
5 |
U28123TZ1970PLC000618 |
UNIVERSAL HEAT
EXCHANGERS LIMITED |
Whole-time
director |
01-01-09 |
19-05-03 |
- |
Active |
NO |
|
6 |
U27310TZ1982PTC001134 |
COIMBATORE
FORGINGS PRIVATE LIMITED |
Director |
20-05-03 |
20-05-03 |
- |
Active |
|
|
7 |
U28123TZ1968PLC000592 |
MADRAS RADIATORS
AND PRESSINGS LIMITED |
Director |
20-05-03 |
20-05-03 |
- |
Active |
NO |
|
8 |
U28910TN2004PTC054031 |
SURAJ PRECISION
ENGINEERING WORKS PRIVATE LIMITED |
Director |
01-04-05 |
01-04-05 |
28-05-11 |
Active |
NO |
|
9 |
U31200TZ1971PLC000636 |
MANJU ELECTRICAL
INDUSTRIES LIMITED |
Director |
30-09-08 |
25-08-08 |
- |
Amalgamated |
NO |
|
Name : |
Mr. Ravindra Krishnaswamy Iyengar |
|
Designation : |
Director |
|
Address : |
104, 3rd Main Road, II Avenue Teachers Colony, Koramangala,
Bangalore-560034, Karnataka, India |
|
Date of Birth/Age : |
02.07.1961 |
|
Date of Appointment : |
14.11.2005 |
|
DIN No.: |
00267069 |
|
|
|
|
Name : |
Mr. Hari Krishnan |
|
Designation : |
Director |
|
Address : |
1101, Mantri Elite, Bannerghatta Road, Bangalore-560076, Karnataka,
India |
|
Date of Birth/Age : |
06.09.1966 |
|
Date of Appointment : |
30.05.2007 |
|
DIN No.: |
01566551 |
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 |
U29199KA1994PTC016426 |
ENMETAL
MANUFACTURING TECHNOLOGIES PRIVATE LIMITED |
Director |
01-02-96 |
01-02-96 |
Strike
off |
NO |
|
2 |
U51392KA1982PTC005086 |
BILL
FORGE PRIVATE LIMITED |
Director |
29-09-07 |
30-05-07 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 17.09.2011
|
Names of Shareholders |
No. of Shares |
|
Anil Haridass |
238576 |
|
Anjali Powar Haridass |
242605 |
|
Sunil Haridass |
172118 |
|
Manjula Sunil |
38891 |
|
Mridula Sugadhan |
38918 |
|
M C Mythili |
39994 |
|
Monsson India Inflection Fund Limited, |
94521 |
|
Monsson |
155955 |
|
Anita Shourie |
200 |
|
Hari S Bhartia |
6500 |
|
Naresh Gujral |
1300 |
|
OKS Span Tech Private Limited, |
1900 |
|
Pioneer Invest Corporation Limited, Mumbai |
3300 |
|
Sandeep Bhammar |
3300 |
|
Shyam S Bhartia |
6500 |
|
Span India Private Limited, |
9500 |
|
Ashokan. P |
150 |
|
Ravindra. K |
2573 |
|
Pushparaj.V |
50 |
|
Saimon S. P. |
100 |
AS ON 17.09.2011
|
Equity Shares
Break Up |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
24.00 |
|
Directors or relatives of Directors |
72.00 |
|
Others |
1.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Automobile Spare Parts |
|
|
|
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
Unit |
Actual
Production |
|
Races |
Qty in Nos. |
336.71 |
|
Retainers |
Qty in Nos. |
282.84 |
|
Spark Plugs |
Qty in Nos. |
172.06 |
|
Sheet Metal Components |
Qty in Nos. |
50.34 |
|
UJKits / CVjoints / Gears |
Qty in Nos. |
12.95 |
|
Yokes |
Qty in Nos. |
34.04 |
|
Aluminium Parts / Hubs |
Qty in Nos. |
7.58 |
GENERAL INFORMATION
|
Customers : |
|
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
2000 (Approximately) |
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
Corporation Bank, Industrial Finance Branch,
Rallaram Building, Mission Road, Bangalore 560027, Karnataka, India |
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
Bajaj Finance Limited, 4th Floor, Bajaj Finserv Corporate Office,
Off Pune-Ahmednagar Road, Viman Nagar, Pune-411014, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Abraham Mathew and Master Chartered Accountants |
|
Address : |
11/1, |
|
Tel. No.: |
91-80-23435020 |
|
Fax No.: |
91-80-23333461 |
|
|
|
|
Company in which a Director is a Partner /
Director :- |
· Uni Drivelines
Private Limited · Universal Heat
Exchangers · Madras
Radiators and Pressings Limited · Manju
Electrical Industries Limited · ACM Castings
Limited · Deccan
Radiators and Pressings Private Limited · Universal
Brakes Private Limited · Suraj
Precision Eng Works Private Limited · Petrol and Oil
Suppliers. |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2150000 |
Equity Shares |
Rs.10/- each |
Rs. 21.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1069153 |
Equity Shares |
Rs.10/- each |
Rs. 10.692
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 |
10.692 |
10.642 |
10.641 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
743.728 |
667.144 |
653.911 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
754.420 |
677.786 |
664.552 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1755.348 |
1414.546 |
1050.517 |
|
|
2] Unsecured Loans |
0.547 |
0.547 |
0.811 |
|
|
TOTAL BORROWING |
1755.895 |
1415.093 |
1051.328 |
|
|
DEFERRED TAX LIABILITIES |
102.771 |
89.450 |
73.466 |
|
|
|
|
|
|
|
|
TOTAL |
2613.086 |
2182.329 |
1789.346 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1419.461 |
1266.196 |
1126.004 |
|
|
Capital work-in-progress |
138.137 |
102.995 |
118.807 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.051 |
0.051 |
0.052 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
644.104
|
461.809
|
322.457 |
|
|
Sundry Debtors |
657.989
|
501.434
|
386.710 |
|
|
Cash & Bank Balances |
31.163
|
54.617
|
53.076 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
163.146
|
148.000
|
133.723 |
|
Total
Current Assets |
1496.402
|
1165.860 |
895.966 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
293.120
|
267.459
|
259.564 |
|
|
Other Current Liabilities |
147.845
|
85.314
|
61.143 |
|
|
Provisions |
0.000
|
0.000
|
30.776 |
|
Total
Current Liabilities |
440.965
|
352.773 |
351.483 |
|
|
Net Current Assets |
1055.437
|
813.087
|
544.483 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2613.086 |
2182.329 |
1789.346 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2782.520 |
1902.147 |
1509.655 |
|
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
|
TOTAL |
2782.520 |
1902.147 |
1509.655 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
1723.330 |
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
2494.742 |
1723.330 |
1357.515 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
287.778 |
178.817 |
152.140 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
156.857 |
134.815 |
103.404 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
130.921 |
44.002 |
48.736 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
41.911 |
21.431 |
33.044 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
89.010 |
22.571 |
15.692 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
211.035 |
200.302 |
190.823 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
10.000 |
2.500 |
3.100 |
|
|
|
Dividend |
12.425 |
9.338 |
3.113 |
|
|
BALANCE CARRIED
TO THE B/S |
277.620 |
211.035 |
200.302 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
NA |
269.783 |
285.850 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
57.464 |
77.350 |
|
|
|
Stores & Spares |
NA |
40.279 |
16.697 |
|
|
|
Capital Goods |
NA |
102.227 |
11.347 |
|
|
TOTAL IMPORTS |
NA |
199.970 |
105.394 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
83.25 |
21.21 |
28.39 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.20
|
1.18
|
1.03 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.71
|
2.31
|
3.22 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.49
|
1.81
|
2.41 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17
|
0.06
|
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.05
|
2.74
|
2.22 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.39
|
3.30
|
2.54 |
LOCAL AGENCY FURTHER INFORMATION
BACKGROUND
Subject was
incorporated on 23rd December, 1982.
The Company is in
the business of manufacture of retainers, steering races, hubs, pinions, gear
blanks, shaft, for Two and Four Wheeler Vehicles
FORM 8
|
Corporate
identity number of the company |
U51392KA1982PTC005086 |
|
Name of the
company |
BILL FORGE
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Unit No. 9C, |
|
This form is for |
Creation of
charge |
|
Type of charge |
Movable property
(not being pledge) |
|
Particular of
charge holder |
Bajaj Finance Limited, 4th Floor, Bajaj Finserv Corporate Office,
Off Pune-Ahmednagar Road, Viman Nagar, Pune-411014, Maharashtra, India |
|
Nature of
instrument creating charge |
Memorandum of
Hypothecation Dated 05.11.2011. |
|
Date of
instrument Creating the charge |
05.11.2011 |
|
Amount secured by
the charge |
Rs. 60.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest 13.60% p.a (
Linked to the Base Rate of Bajaj Finance Limited - Presently at 10.80% p.a ) Terms of repayment The Term Loan to be
repaid in 42 Months including moratorium period of 6 Months. Principal :
Monthly ( Starting from 7th Month onwards ) Interest :
Monthly Penal Interest of
4% p.a will be charged for the delays in repayment. Extent and operation of the charge First Charge on
the Machinery acquired from this Term Loan. |
|
Short particulars
of the property charged (Including location of the property) |
Charge on
specific machinery acquired out of Term Loan facility. |
FIXED ASSETS:
- Land
- Plant and
Machinery
- Furniture and
Fixtures
- Vehicles
- Computer and
Accessories
- Office
Equipments
- Technical
Know-how
- Electrical
Installation
AS PER WEBSITE DETAILS
OVERVIEW:
Subject manufactures a variety of cold, warm, hot forged and machined
components for the automotive and non-automotive sectors.
Since commencement of operations in 1985, Subject has achieved several
milestones and is today among the most technologically advanced manufacturer of
forged and machined components. Being one of
Subject’s customers include top automotive companies in the world; the list
includes well respected OEM's and Tier 1 companies.
Backed by the company’s philosophy to be pro-active to its customers needs
and continually improve all aspects of its business model, Subject provides
solutions to meet the stringent needs of industry today.
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. 49.68 |
|
|
1 |
Rs. 78.17 |
|
Euro |
1 |
Rs. 65.51 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.