MIRA
INFORM REPORT
|
Report Date : |
09.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
SUTTATTI ENTERPRISES LIMITED (w.e.f. 21.05.2007) |
|
|
|
|
Formerly Known
As : |
SUTTATTI ENTERPRISES PRIVATE LIMITED |
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|
|
|
Registered
Office : |
Unit 1-43, Hadapsar Industrial Estate, Pune – 411013, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of Incorporation
: |
07.03.1995 |
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Com. Reg. No.: |
11-086130 |
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Capital
Investment / Paid-up Capital : |
Rs.105.000 Millions |
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CIN No.: [Company Identification
No.] |
U29299PN1995PLC086130 |
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|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter and Importer of Sheet Metal Products. |
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|
|
No. of Employees
: |
140 (Approximately) (In Office + In Factory) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1800000 |
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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 well 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.
INFORMATION PARTED BY
|
Name : |
Mr. Sagar |
|
Designation : |
Purchase Executive |
|
Contact No.: |
91-20-66023939 |
|
Date : |
08.02.2012 |
LOCATIONS
|
Registered Office / Factory: |
Unit 1-43, Hadapsar Industrial Estate, Pune – 411013, |
|
Tel. No.: |
91-20-66023939 / 29870274 / 26814215 |
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Fax No.: |
91-20-26874062 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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|
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Factory 2 : |
70, Hadapsar, Industrial Estate, Pune – 411013, |
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Factory 3 : |
109/4, Ram Tekdi Industrial Estate, Pune – 411013, |
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Branch Office : |
Located at ·
Pune |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Channabasav Gurappa Suttatti |
|
Designation : |
Whole-time director |
|
Address : |
E-1, Konark Estate Opposite |
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Date of Birth/Age : |
30.12.1933 |
|
Qualification : |
B.E. |
|
Date of Appointment : |
06.09.1996 |
|
DIN No.: |
00636156 |
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 |
U29299PN1995PLC086130 |
Suttatti
Enterprises Limited |
Whole-time
director |
30-03-10 |
06-09-96 |
Active |
NO |
|
2 |
U29299PN2005PTC020631 |
Sumax
Enterprises Private Limited |
Director |
28-09-05 |
28-09-05 |
Active |
NO |
|
Name : |
Mr. Rajesh Channabasav Suttatti |
|
Designation : |
Whole-time director |
|
Address : |
E-1, Konark Estate Opposite |
|
Date of Birth/Age : |
20.01.1962 |
|
Qualification : |
Under Graduate |
|
Date of Appointment : |
07.03.1995 |
|
DIN No.: |
00636022 |
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 |
U29299PN1995PLC086130 |
Suttatti
Enterprises Limited |
Whole-time
director |
30-03-10 |
07-03-95 |
Active |
NO |
|
2 |
U29299PN2005PTC020631 |
Sumax
Enterprises Private Limited |
Managing
director |
27-04-05 |
27-04-05 |
Active |
NO |
|
Name : |
Mr. Vijay Channabasav Suttatti |
|
Designation : |
Managing director |
|
Address : |
E-1, Konark Estate Opposite |
|
Date of Birth/Age : |
14.05.1972 |
|
Qualification : |
B.E. |
|
Date of Appointment : |
07.03.1995 |
|
DIN No.: |
00636143 |
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 |
U29299PN1995PLC086130 |
Suttatti
Enterprises Limited |
Managing
director |
30-03-10 |
07-03-95 |
Active |
NO |
|
2 |
U29299PN2005PTC020631 |
Sumax
Enterprises Private Limited |
Director |
27-04-05 |
27-04-05 |
Active |
NO |
|
Name : |
Mr. Deepak Pandit Suttatti |
|
Designation : |
Whole-time director |
|
Address : |
Y-404, Sacred |
|
Date of Birth/Age : |
17.10.1973 |
|
Qualification : |
D.M.E. |
|
Date of Appointment : |
09.06.1996 |
|
DIN No.: |
01422347 |
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 |
U29299PN1995PLC086130 |
Suttatti
Enterprises Limited |
Whole-time
director |
30-03-10 |
09-06-96 |
Active |
NO |
|
2 |
U29299PN2005PTC020631 |
Sumax
Enterprises Private Limited |
Director |
27-04-05 |
27-04-05 |
Active |
NO |
|
Name : |
Mr. Mahesh Pandit Suttatti |
|
Designation : |
Whole-time director |
|
Address : |
Y-404, Sacred |
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Date of Birth/Age : |
19.03.1978 |
|
Qualification : |
D.P.E. |
|
Date of Appointment : |
06.09.1996 |
|
DIN No.: |
01497000 |
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 |
U29299PN1995PLC086130 |
Suttatti
Enterprises Limited |
Whole-time
director |
30-03-10 |
06-09-96 |
Active |
NO |
|
2 |
U29299PN2005PTC020631 |
Sumax
Enterprises Private Limited |
Director |
27-04-05 |
27-04-05 |
Active |
NO |
|
Name : |
Mr. |
|
Designation : |
Director |
|
Address : |
E-1, Konark Estate Opposite |
|
Date of Birth/Age : |
08.05.1943 |
|
Qualification : |
Under Graduate |
|
Date of Appointment : |
01.02.2006 |
|
DIN No.: |
00635820 |
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|
|
|
Name : |
Mrs. Kalavati Pandit Suttatti |
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Designation : |
Director |
|
Address : |
Y-404, Sacred |
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Date of Birth/Age : |
17.03.1948 |
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Qualification : |
Under Graduate |
|
Date of Appointment : |
01.02.2006 |
|
DIN No.: |
01497045 |
KEY EXECUTIVES
|
Name : |
Mr. Sagar |
|
Designation : |
Purchase Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Rajesh C. Suttatti |
|
11250 |
|
Vijay C. Suttatti |
|
52500 |
|
Channabasav G. Suttatti |
|
11256 |
|
Deepak P. Suttatti |
|
37032 |
|
Mahesh P. Suttatti |
|
37032 |
|
Rajesh C. Suttatti Jointly with Vimala R. Suttatti |
|
120000 |
|
Vijay C. Suttatti Jointly with Roopa V. Suttatti |
|
78750 |
|
Channabasav G. Suttatti Jointly with |
|
70780 |
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Deepak P. Suttatti Jointly with Kalavati P. Suttatti |
|
45000 |
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Mahesh P. Suttatti Jointly with Kalavati P. Suttatti |
|
45000 |
|
|
|
32812 |
|
Pushpa J. Boramani Jointly with Jagannath M. Boramani |
|
26662 |
|
Roopa V. Suttatti Jointly with Vijay C. Suttatti |
|
32812 |
|
Aditya Rajesh Suttatti Jointly with Rajesh C. Suttatti |
|
32812 |
|
Shruti Rajesh Suttatti Jointly with Rajesh C. Suttatti |
|
16411 |
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Akshya J. Boramani Jointly with Pushpa J. Boramani |
|
16413 |
|
Prinyanka J. Boramanai Jointly with Pushpa J. Boramani |
|
16413 |
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Vimala R. Suttatti Jointly with Rajesh C. Suttatti |
|
16413 |
|
Rajni D. Suttatti Jointly with Deepak P. Suttatti |
|
16411 |
|
Pushpa J. Boramani Jointly with Akshya J. Bormani |
|
22500 |
|
Vedagnya Sanjay Bondada Jointly with Geeta Sanjay Bondada |
|
16411 |
|
Geeta Sanjay Bondada Jointly with |
|
51900 |
As on 30.09.2011
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, Exporter and Importer of Sheet Metal Products. |
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Products : |
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Exports : |
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Products : |
Sheet Metal |
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Countries : |
·
US ·
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Credit (30 Days, 60 Days and 90 Days) |
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Purchasing : |
Credit (30 Days, 60 Days and 90 Days) |
GENERAL INFORMATION
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Customers : |
Others (Manufacturers) |
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No. of Employees : |
140 (Approximately) (In Office + In Factory) |
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Bankers : |
State Bank of |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Sagdeo Ajay Laxmikant Chartered Accountant |
|
Address : |
Kothrud, Pune, |
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PAN.: |
AAPFS2223N |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.100/- each |
Rs.150.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1050000 |
Equity Shares |
Rs.100/-
each |
Rs.105.000
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
105.000 |
105.000 |
105.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
335.803 |
237.806 |
169.587 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
440.803 |
342.806 |
274.587 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
105.639 |
133.470 |
118.814 |
|
|
2] Unsecured Loans |
26.777 |
30.039 |
21.374 |
|
|
TOTAL BORROWING |
132.416 |
163.509 |
140.188 |
|
|
DEFERRED TAX LIABILITIES |
56.941 |
58.102 |
59.225 |
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|
|
|
|
|
|
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TOTAL |
630.160 |
564.417 |
474.000 |
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|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
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|
FIXED ASSETS [Net Block] |
314.40 |
356.387 |
308.686 |
|
|
Capital work-in-progress |
51.142 |
0.200 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
70.813 |
59.414 |
53.521 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
62.521
|
49.927 |
35.698 |
|
|
Sundry Debtors |
138.646
|
81.532 |
59.933 |
|
|
Cash & Bank Balances |
7.724
|
33.518 |
3.489 |
|
|
Other Current Assets |
3.001
|
5.230 |
36.371 |
|
|
Loans & Advances |
28.489
|
54.305 |
5.228 |
|
Total
Current Assets |
240.381
|
224.512 |
140.719 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
35.874 |
45.416 |
22.305 |
|
|
Other Current Liabilities |
2.718
|
1.646 |
1.134 |
|
|
Provisions |
7.984
|
29.034 |
5.905 |
|
Total
Current Liabilities |
46.576
|
76.096 |
29.344 |
|
|
Net Current Assets |
193.805
|
148.416 |
111.375 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.418 |
|
|
|
|
|
|
|
|
TOTAL |
630.160 |
564.417 |
474.000 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
484.924 |
443.719 |
400.194 |
|
|
|
Other Income |
2.296 |
6.364 |
(0.247) |
|
|
|
TOTAL (A) |
487.220 |
450.083 |
399.947 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
225.522 |
197.713 |
186.207 |
|
|
|
Manufacturing service costs |
64.933 |
54.482 |
48.942 |
|
|
|
Administrative selling other expenses |
23.194 |
25.615 |
19.992 |
|
|
|
TOTAL (B) |
313.649 |
277.810 |
255.141 |
|
|
|
|
|
|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
173.571 |
172.273 |
144.806 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
13.809 |
16.496 |
18.392 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
159.762 |
155.777 |
126.414 |
|
|
|
|
|
|
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
49.979 |
45.290 |
46.865 |
|
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|
|
|
|
|
|
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|
PROFIT BEFORE
TAX (E-F) (G) |
109.783 |
110.487 |
79.549 |
|
|
|
|
|
|
|
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|
Less |
TAX (H) |
11.786 |
17.699 |
20.123 |
|
|
|
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PROFIT AFTER TAX
(G-H) (I) |
97.997 |
92.788 |
59.426 |
|
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|
|
|
|
|
|
Less |
APPROPRIATIONS |
0.000 |
24.569 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
97.997 |
68.219 |
59.426 |
|
|
|
|
|
|
|
|
|
|
TOTAL EARNINGS |
122.214 |
76.228 |
66.396 |
|
|
|
|
|
|
|
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|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
5.362 |
1.455 |
55.484 |
|
|
TOTAL IMPORTS |
5.362 |
1.455 |
55.484 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
93.33 |
88.37 |
56.60 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
20.11
|
20.62 |
14.86 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
22.64
|
24.90 |
19.88 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
19.79
|
19.02 |
17.70 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25
|
0.32 |
0.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.41
|
0.70 |
0.62 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.16
|
2.95 |
4.80 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry
Creditors:
(Rs.
In Millions)
|
Particulars
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
Creditors due small micro enterprises |
0.000 |
0.000 |
0.000 |
|
Creditors due others |
35.874 |
45.416 |
22.305 |
|
Total |
35.874 |
45.416 |
22.305 |
|
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 |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business• |
Yes |
|
7) Promoter’s background |
-- |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last two years |
No |
|
12) Profitability for last three years |
No |
|
13) Reasons for variation <> 20% |
No |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
No |
|
16) Details of sister concerns |
No |
|
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 |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
No |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
No |
|
28) Incorporation details, if applicable |
-- |
|
29) Last accounts filed at ROC |
-- |
|
30) Major Shareholders, if available |
-- |
Performance:
The Company is in the manufacturing sector catering
to automobile industry at large and hence despite of recessionary effects the
performance of the company is satisfactory.
The total income for previous year was Rs.
450.083 Millions as compared to Rs. 487.221 Millions for the current year
showing an increase of 8.25%. Profit before taxes was Rs.109.783 Millions as
compared to Rs. 110.487 Millions showing decrease of 0.64 % mainly due to
increase in material prices. PAT stood at Rs. 97.787 Millions as compared to
Rs. 92.788 Millions for the current year with an increase of 5.39%.
Contingent Liability:
·
Dy. Commissioner Sales
Tax (Financial Year 2002-2003) Rs.4.294 Millions.
Form 8:
|
Corporate identity number of the company |
U29299PN1995PLC086130 |
|
Name of the company |
SUTTATTI ENTERPRISES LIMITED |
|
Address of the registered office or of the principal place of business in |
Unit 1-43, Hadapsar Industrialestate, Pune – 411013, E-mail : vcs@suttatti.com |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
90088758 |
|
Type of charge |
Book debts Movable property (not being pledge) Others (Stock in all its elements) |
|
Particular of charge holder |
State Bank of India Industrial Finance Branch, 2nd floor, Tara
Chambers, Near Mariaai Policechowky, E-mail : vijaydatt.dixit@sbi.co.in
|
|
Nature of instrument creating charge |
Supplemental Agreement of Hypothecation of Goods and Assets for
Increase in Overall Limit and Deed of Mortgage both the documents executed to
create a single charge against all the present and future current assets inclusive
of book debts and immovable assets to cover the enhanced credit facilities
extended by the Bank to the Borrower Company. |
|
Date of instrument Creating the charge |
30.06.2011 |
|
Amount secured by the charge |
Rs.404.500 Millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest The Rate of interest as per sanction letter which in force. Terms of Repayment DCC: On Demand. The additional Term
Loan of Rs.246.000 Millions. The tenor would be of 96 months inclusive of
moratorium period of 12 months (March 2012 to February2018). The Term Loan is
to be repaid in 84 monthly installments out of which 83 installments will be
of Rs.2.900 Millions and the last installment would be of Rs.5.300 Millions.
Repayment commence from March 2012. Margin As per sanction letter . Extent and Operation of the charge State Bank of Others The Company, by virtue of the Board Resolution passed on 20/04/2011,
has given assent to all the Terms and Conditions, Covenants, as provided in
the Bank's Sanction Letter and have executed the related loan document(s)/
Agreement(s) through the Director(s),who have received and signed the documents in physical form
and who have been authorized to file
eform-8 for modifications in the existing limits and in the nature and
scope of the charge on agreed terms. |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
All the current assets inclusive of records of receivables /book debts
maintained at the Registered Office and at the Works of the Company. A)All that piece and parcel of land along with building bearing Plot
No.43 out of S. No. 112A+113B+114+117+118+119+122A+123B+296B+297+318 Hadapsar
Industrial Estate Pune adm.37152 Sq ft.i.e.3451.50 Sq. Mtrs. B) All that piece and parcel of land along with building bearing Plot
No.70 out of S.No.112A+113B+114+117+118+119+122A+123B+296B+297+318 Hadapsar
Industrial Estate Pune adm.86064 Sq ft.i.e.7996.28 Sq. Mtrs. C)All that piece and parcel of land bearing Plot No.4 final plot
No.109 to 111 TPS Hadpsar adm.1860 sq mtrs together with construction amd 856 sq. mtrs thereon
and additional made thereto D) All that piece and parcel of land and property bearing Gat No.70/2
adm (1H20Aars+80Aars) Total 2H 00Aars situated at Village Nandur Taluka Daund
District Pune within the local limit of ZP Pune PS Daund. All the above stated properties as depicted, denoted and as
geographicated in the Schedule referred as Property Schedule in the Deed of
Mortgage duly simultaneously registered with Revenue Authority. |
|
Date of instrument modifying the charge |
16.12.2009 |
|
Particulars of the present modification |
By this present modification, the Bank has sanctioned new Term Loan of
Rs.246.000 Millions, taking into consideration present status of balance at
the account the over all expo- user would be Rs.404.500 Millions. The Company
has provided the new additional security as denoted in the Deed of Mortgage
which is simultaneously registered with the Revenue Authorities |
Fixed Assets:
·
Computers
·
Electrical Installations
·
Factory Equipments
·
Forklift
·
Factory land
·
·
Furniture and Fixtures
·
Office Equipments
·
Plant and Machinery
·
Waste Water Treatment
Plant
·
Vehicles
·
Transport Vehicles
·
Windmills
·
Air Compressors
·
Motor
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.49.07 |
|
|
1 |
Rs.78.09 |
|
Euro |
1 |
Rs.65.12 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
49 |
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.