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Report Date : |
22.02.2012 |
IDENTIFICATION DETAILS
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Name : |
DATAWIND INNOVATIONS PRIVATE LIMITED (w.e.f.21.11.2011) |
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Formerly Known
As : |
UNIQUE MOBINET SURFERS PRIVATE LIMITED |
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Registered
Office : |
8148-Jubliee Complex, Second Floor, Above Muthoot Finance, Sultanwind
Road, Amritsar – 143001, Punjab |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
05.02.2009 |
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Com. Reg. No.: |
16-032583 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
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CIN No.: [Company Identification
No.] |
U72900PB2009PTC032583 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Developer of Wireless Web Access Product and Services. |
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No. of Employees
: |
40 [Approximately] |
RATING & COMMENTS
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MIRA’s Rating : |
B (26) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 1000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small company having moderate track. There
appears some dip in the turnover and profitability of the company. However, trade
relations are reported as fair. Business is active. Payments are reported to
be slow. The company can be considered for business dealings with some
cautions. Profit and Loss Account of the company is not available. |
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
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
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Name : |
Mr. Kuljeet |
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Designation : |
Director |
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Contact No.: |
91-9815166660 |
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Date : |
22.02.2012 |
LOCATIONS
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Registered Office : |
8148-Jubliee Complex, Second Floor, Above Muthoot Finance, Sultanwind Road,
Amritsar – 143001, Punjab, India |
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Tel. No.: |
91-183-5003020 |
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Mobile No.: |
91-9815166660 [Mr. Kuljeet] |
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Fax No.: |
91-183-5013020 |
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E-Mail : |
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Website : |
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Branch Office 1 : |
P.V.T 105, Upper Ground Floor, Neelkanth Palace, Sant Nagar, East of
Kailash, New Delhi- 110065, India |
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Branch Office 2 : |
614, 5th Floor, DLF Tower – B, Jasola District Centre, New
Delhi – 110076, India |
DIRECTORS
As on 30.09.2011
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Name : |
Mr. Kuljeet Singh Bhatia |
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Designation : |
Director |
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Address : |
11.10.1962 |
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Date of Birth/Age : |
195, Ajit Nagar, Sultanwind Road, Amritsar – 143001, Punjab, India |
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Date of Appointment : |
05.02.2009 |
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DIN No.: |
02516060 |
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Name : |
Mr. Simran Kaur Bhatia |
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Designation : |
Director |
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Address : |
195, Ajit Nagar, Sultanwind Road, Amritsar – 143001, Punjab, India |
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Date of Birth/Age : |
20.04.1966 |
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Date of Appointment : |
05.02.2009 |
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DIN No.: |
02516062 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
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Names of Shareholders |
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No. of Shares |
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Kuljeet Singh Bhatia |
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5000 |
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Simran Kaur Bhatia |
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5000 |
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Total |
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10000 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Developer of Wireless Web Access Product and Services. |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Customers : |
End users |
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No. of Employees : |
40 [Approximately] |
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Bankers : |
ICICI Bank, Amritsar Branch |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Mohinder Singh and Company Chartered Accountants |
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Address : |
48, Kennedy Avenue, Amritsar – 143001, Punjab, India |
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Tel. No.: |
91-183-2563151 / 5070915 / 2210915 |
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Mobile No.: |
91-9876960400 / 9878480400 |
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PAN.: |
ADJPS3330B |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
0.100 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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0.151 |
0.155 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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0.251 |
0.255 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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4.474 |
0.004 |
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TOTAL BORROWING |
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4.474 |
0.004 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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4.725 |
0.259 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.272 |
0.273 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.773 |
0.929 |
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Sundry Debtors |
|
0.096 |
2.544 |
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Cash & Bank Balances |
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5.358 |
0.003 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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0.061 |
0.060 |
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Total
Current Assets |
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6.288 |
3.536 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
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0.783
|
0.042 |
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Other Current Liabilities |
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0.933
|
3.309 |
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Provisions |
|
0.133
|
0.216 |
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Total
Current Liabilities |
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1.849
|
3.567 |
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Net Current Assets |
|
4.439 |
(0.031) |
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MISCELLANEOUS EXPENSES |
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0.014 |
0.017 |
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TOTAL |
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4.725 |
0.259 |
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KEY RATIOS
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PARTICULARS |
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31.03.2011 |
31.03.2010 |
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Debt Equity Ratio (Total Liability/Networth) |
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25.19 |
14.00 |
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Current Ratio (Current Asset/Current Liability) |
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3.40 |
0.99 |
LOCAL AGENCY FURTHER INFORMATION
Performance:
The profit and loss account shows a net Profit
of Rs.0.080 Million against that of Rs. 0.156 Million of last year The sales
during the year were for Rs.5.680 Millions The net profit of the year after
adding to that of last year and further adjustments of Taxation at Rs.0.084
Million is carried at Rs.0.151 to the next year. The turnover of the Company
was Rs.5.680 Million against Rs.8.469 Million of last year. The directors
remuneration this year was Rs.0.320 against Rs.0.240 Million of last year. The
depreciation provided this year was at Rs. 0.074 against Rs.0.103 Million of
last year. The Company has also incurred expenditure on behalf of M/S Datawind
and the same were reimbursed from Datawind. The directors put in their very
hard labour at every level to give the above results and the same efforts are
being continued at present too. The report of the auditors being self
explanatory does not require further comments.
Note:
The registered address of the company has been shifted from “57-Ajit
Nagar, Sultanwind Road, Amritsar – 143001, Punjab, India” to the present
address w.e.f. 17.10.2011
Fixed Assets:
·
Electrical
Appliances
·
Inverters
/ Batteries
·
Furniture
and Fixture
·
Computers
·
Air
Conditioners
·
Camera
·
Telephone / Answering
Machine
·
Water
Cooling Machine
·
Televisions
·
Water
Purifier
·
Refrigerator
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.49.08 |
|
UK Pound |
1 |
Rs.77.80 |
|
Euro |
1 |
Rs.65.17 |
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 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
26 |
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.