MIRA
INFORM REPORT
|
Report Date : |
09.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
PON PURE CHEM PRIVATE LIMITED (w.e.f. 26.06.2008) |
|
|
|
|
Formerly Known
As : |
PURE CHEMICALS AND SOLVENT PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No.77, Perambur High Road, Perambur, Chennai-600012, Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
24.07.1998 |
|
|
|
|
Com. Reg. No.: |
18-040872 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 36.752 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24111TN1998PTC040872 |
|
|
|
|
TIN No.: |
33241061285 |
|
|
|
|
CST No.: |
774396 / 19.09.2001 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trading in various kinds of chemicals. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3200000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a well established company having satisfactory track. The
company is doing well. 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 : |
No.77, Perambur High Road, Perambur, Chennai-600012, Tamilnadu, India |
|
Tel. No.: |
91-44-26161812 |
|
Fax No.: |
91-44-26161813 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Administrative Office : |
No. 32, H Block, 15th Main Road, Anna Nagar,
Chennai-600040, Tamilnadu, India |
|
Tel. No.: |
91-44-26161803 / 26161811 (9 lines) |
|
Fax No.: |
91-44-26161813 /14 |
|
E-Mail : |
|
|
|
|
|
Branch Office : |
Unit No 129, creative Industrial Estate, Sunder Nagar, Road No 2,
Kalina, Santacruz (East), Mumbai-400098, Maharashtra, India |
|
Tel. No.: |
91-22-26664729 |
|
E-Mail : |
DIRECTORS
AS ON 25.08.2011
|
Name : |
Mr. Muthuswamy Ponnuswami Palaniappan |
|
Designation : |
Managing Director |
|
Address : |
AA23, 3rd Street, Anna Nagar, Chennai-600040, Tamil Nadu,
India |
|
Date of Birth/Age : |
08.10.1954 |
|
Date of Appointment : |
24.07.1998 |
|
DIN No.: |
00015847 |
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 |
U24299TN1994PTC026600 |
PON
PURE CHEM PRIVATE LIMITED |
Managing
director |
14-12-94 |
14-12-94 |
- |
Amalgamated |
NO |
|
2 |
U24114TN1998PTC040871 |
COLOR
CHEMICALS AND DYES PRIVATE LIMITED |
Managing
director |
24-07-98 |
24-07-98 |
- |
Active |
NO |
|
3 |
U24111TN1998PTC040872 |
PON
PURE CHEM PRIVATE LIMITED |
Managing
director |
24-07-98 |
24-07-98 |
- |
Active |
NO |
|
4 |
U45201TN2005PTC056246 |
MAXIS
CONSTRUCTION PRIVATE LIMITED |
Director |
11-05-05 |
11-05-05 |
25-03-11 |
Active |
NO |
|
5 |
U93090TN1955GAP001528 |
TAMILNADU
DYES AND CHEMICALS MERCHANTS |
Director |
14-10-05 |
14-10-05 |
- |
Active |
NO |
|
6 |
U17111TZ2006PTC016883 |
MANCHESTER
TEXTILE PRIVATE LIMITED |
Managing
director |
01-12-06 |
24-03-06 |
- |
Active |
NO |
|
7 |
U45200TN2006PTC061563 |
MANO
INFRASTRUCTURE PRIVATE LIMITED |
Director |
21-11-06 |
21-11-06 |
- |
Active |
NO |
|
8 |
U65993TN2008PTC067740 |
PONPURE
FINANCE PRIVATE LIMITED |
Director |
14-05-08 |
14-05-08 |
- |
Active |
NO |
|
9 |
U18109TN2009PTC071436 |
STANFAB
APPARELS PRIVATE LIMITED |
Director |
24-04-09 |
24-04-09 |
18-09-11 |
Active |
NO |
|
10 |
U45400TN2011PTC083056 |
PON
PURE CONSTRUCTION PRIVATE LIMITED |
Director |
09-11-11 |
09-11-11 |
- |
Active |
NO |
|
Name : |
Mr. Manaoranjitham Nallayagounder Kaliannan |
|
Designation : |
Director |
|
Address : |
AA23, 3rd Street, Anna Nagar, Chennai-600040, Tamil Nadu,
India |
|
Date of Birth/Age : |
15.06.1961 |
|
Date of Appointment : |
24.07.1998 |
|
DIN No.: |
00016775 |
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 |
U24111TN1998PTC040872 |
PON
PURE CHEM PRIVATE LIMITED |
Director |
24-07-98 |
24-07-98 |
Active |
NO |
|
2 |
U24299TN1994PTC026600 |
PON
PURE CHEM PRIVATE LIMITED |
Whole-time
director |
01-06-02 |
01-06-02 |
Amalgamated |
NO |
|
3 |
U17111TZ2006PTC016883 |
MANCHESTER
TEXTILE PRIVATE LIMITED |
Director |
24-03-06 |
24-03-06 |
Active |
NO |
|
4 |
U45200TN2006PTC061563 |
MANO
INFRASTRUCTURE PRIVATE LIMITED |
Director |
21-11-06 |
21-11-06 |
Active |
NO |
|
5 |
U65993TN2008PTC067740 |
PONPURE
FINANCE PRIVATE LIMITED |
Director |
14-05-08 |
14-05-08 |
Active |
NO |
|
Name : |
Mr. Surya Prakas Muthuswamy Ponnuswami |
|
Designation : |
Director |
|
Address : |
AA23, 3rd Street, Anna Nagar, Chennai-600040, Tamil Nadu,
India |
|
Date of Birth/Age : |
21.12.1980 |
|
Date of Appointment : |
01.04.2008 |
|
DIN No.: |
00017891 |
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 |
U63090TN2005PTC056468 |
PON
PURE LOGISTICS PRIVATE LIMITED |
Managing
director |
01-12-06 |
01-06-05 |
Active |
NO |
|
2 |
U17111TZ2006PTC016883 |
MANCHESTER
TEXTILE PRIVATE LIMITED |
Director |
18-09-07 |
28-06-06 |
Active |
NO |
|
3 |
U24111TN1998PTC040872 |
PON
PURE CHEM PRIVATE LIMITED |
Whole-time
director |
30-07-08 |
01-04-08 |
Active |
NO |
|
4 |
U45400TN2011PTC083056 |
PON
PURE CONSTRUCTION PRIVATE LIMITED |
Director |
09-11-11 |
09-11-11 |
Active |
NO |
|
Name : |
Mr. Lakshmipathy Muthuswamy Ponnuswami |
|
Designation : |
Director |
|
Address : |
AA23, 3rd Street, Anna Nagar, Chennai-600040, Tamil Nadu,
India |
|
Date of Birth/Age : |
25.09.1982 |
|
Date of Appointment : |
01.04.2008 |
|
DIN No.: |
00021951 |
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 |
U63090TN2005PTC056468 |
PON
PURE LOGISTICS PRIVATE LIMITED |
Director |
01-06-05 |
01-06-05 |
Active |
NO |
|
2 |
U17111TZ2006PTC016883 |
MANCHESTER
TEXTILE PRIVATE LIMITED |
Director |
18-09-07 |
28-06-06 |
Active |
NO |
|
3 |
U24111TN1998PTC040872 |
PON
PURE CHEM PRIVATE LIMITED |
Whole-time
director |
30-07-08 |
01-04-08 |
Active |
NO |
|
4 |
U45400TN2011PTC083056 |
PON
PURE CONSTRUCTION PRIVATE LIMITED |
Director |
09-11-11 |
09-11-11 |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Khusboo Singhvi |
|
Designation : |
Secretary |
|
Address : |
Old No. 30, New No. 6, Govindappa Naicken Street, 3rd Floor,
Girnar Apartments, Chennai-600001, Tamil Nadu, India |
|
Date of Birth/Age : |
24.09.1985 |
|
Date of Appointment : |
01.06.2010 |
|
PAN No.: |
CMRPS2646R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 25.08.2011
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Muthuswamy Ponnuswami Palaniappan |
543937 |
81.49 |
|
Manaoranjitham Nallayagounder Kaliannan |
45075 |
6.75 |
|
P. Suryaprakas |
16700 |
2.50 |
|
P. Lakshmipathy |
16700 |
2.50 |
|
Muthuswamy Ponnuswami Palaniappan HUF |
45110 |
6.76 |
|
S Nithyasree |
2 |
0.00 |
|
Total |
667524 |
100.00 |
AS ON 25.08.2011
|
Equity Shares
Break Up |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading in various kinds of Chemicals. |
GENERAL INFORMATION
|
Bankers : |
·
Standard Chartered Bank, 19, Rajaji Salai,
Chennai-600001, Tamil Nadu, India ·
IDBI Bank Limited, 115, Anna Salai, Chennai-
600015, Tamil Nadu, India ·
Axis Bank Limited, Corporate Banking Branch,
Ground Floor, Karumuthu Nilayam, No.192, Anna Salai, Chennai-600002,
Tamilnadu, India |
||||||||||||||||||||||||||||||||||||||||||
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||||||||||||||||||||||||||||||||||||||||||
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Suri and Company Chartered Accountant |
|
Address : |
No.4 (Old No.55 A), Chevaliar Sivaji Ganesan Road, T. Nagar,
Chennai-600017, Tamil Nadu, India |
|
PAN No.: |
AABFS5023Q |
|
|
|
|
Subsidiaries : |
·
Pon Pure Chemm (FZE), Dubai |
|
|
|
|
Enterprises in which Key Management Personnel and
their Relatives have significant influence : |
·
Color Chemicals and Dyes (Private) Limited ·
Manchester Textiles (Private) Limited ·
Pure Chemicals Company ·
Pure Organic Industries ·
Southern Logistics (Private) Limited |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
700000 |
Equity Shares |
Rs.100/- each |
Rs. 70.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
367524 |
Equity Shares |
Rs.100/-
each |
Rs. 36.752
Millions |
|
|
|
|
|
AS ON 25.08.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
700000 |
Equity Shares |
Rs.100/- each |
Rs. 70.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
667524 |
Equity Shares |
Rs.100/-
each |
Rs. 66.752
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 |
36.752 |
36.752 |
36.752 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
773.521 |
549.368 |
372.187 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
810.273 |
586.120 |
408.939 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2093.816 |
969.325 |
544.698 |
|
|
2] Unsecured Loans |
21.400 |
21.400 |
21.400 |
|
|
TOTAL BORROWING |
2115.216 |
990.725 |
566.098 |
|
|
DEFERRED TAX LIABILITIES |
13.274 |
8.841 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2938.763 |
1585.686 |
975.037 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
474.848 |
344.712 |
345.297 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
22.680 |
22.680 |
10.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
17.180 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1227.447
|
823.811
|
228.445 |
|
|
Sundry Debtors |
2183.213
|
1110.940
|
601.083 |
|
|
Cash & Bank Balances |
208.926
|
151.942
|
108.330 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
96.754
|
52.861
|
45.733 |
|
Total
Current Assets |
3716.340
|
2139.554 |
983.591 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1261.661
|
910.766
|
375.638 |
|
|
Other Current Liabilities |
9.142
|
7.974
|
5.214 |
|
|
Provisions |
4.302
|
2.520
|
0.179 |
|
Total
Current Liabilities |
1275.105
|
921.260 |
381.031 |
|
|
Net Current Assets |
2441.235
|
1218.294
|
602.560 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2938.763 |
1585.686 |
975.037 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
|
|
TURNOVER |
10338.060 |
5760.302 |
4083.950 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Office Expenses |
NA |
5488.601 |
NA |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
|
5488.601 |
NA |
|
|
|
NA |
|
|
|
|
|
PROFIT BEFORE
TAX |
|
271.701 |
17.515 |
|
|
|
|
|
|
|
|
|
|
TAX |
|
94.520 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
NA |
177.181 |
NA |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
592.334 |
222.486 |
97.556 |
|
|
TOTAL EARNINGS |
592.334 |
222.486 |
97.556 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Trading Goods |
6713.516 |
2964.584 |
1580.479 |
|
|
TOTAL IMPORTS |
6713.516 |
2946.584 |
1580.479 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
-- |
482 |
(155) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
4.72
|
0.43 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
10.94
|
1.30 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.46
|
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.20
|
3.28
|
2.32 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.91
|
2.32
|
2.58 |
LOCAL AGENCY FURTHER INFORMATION
STATE OF AFFAIRS:
The Company was
able to achieve very creditable results for the year. The turnover leaped from
Rs. 5760.30 millions for the year 2009-10 to Rs. 10,338.06 millions for the
year 2010-11, resulting in a growth of 79.47 % with an operating profit growth
of 24.5% for the year 2010-11over the year 2009-10.
SUBSIDIARY COMPANIES:
“Pon Pure Chemm
FZE ” wholly owned subsidiary was incorporated on 18th October 2009 in Dubai
with the objective of trading and marketing chemicals in Gulf Cooperation
Council Countries and Middle East. The subsidiary commenced its operations in
March 2010. During the year, “Pon Pure Chemical Lanka (Private) Limited” was
incorporated on 13th September 2010 as a wholly owned subsidiary of “Pon Pure
Chemm FZE” and commenced its operations in April 2011.
The Company has
also incorporated another wholly owned subsidiary namely “Pure Chemicals Pte.
Limited” in Singapore on 27th April, 2011 and “Pure Chemicals Pty. Limited” in
Australia on 11th May, 2011 as a wholly owned subsidiary of “Pure Chemicals Pte
Limited”, Singapore.
CONTINGENT
LIABILITIES
|
Particulars |
Rs.
In Millions 31.03.2011 |
Rs.
In Millions 31.03.2010 |
|
On Account of Corporate Guarantee issued |
189.800 |
189.800 |
|
On account of Letter of Credits Discounted |
52.600 |
31.800 |
FORM 8
|
Corporate
identity number of the company |
U24111TN1998PTC040872 |
|
Name of the
company |
PON PURE CHEM
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
No.77, Perambur High Road, Perambur, Chennai-600012, Tamilnadu, India |
|
This form is for |
Modification of
charge |
|
Type of charge |
Book debts Movable property
(not being pledge) |
|
Particular of
charge holder |
Axis Bank Limited, Corporate Banking Branch, Ground Floor,
Karumuthu Nilayam, No.192, Anna Salai, Chennai-600002, Tamilnadu, India |
|
Nature of
instrument creating charge |
1. Supplemental
Deed of Hypothecation. 2. Sanction
Letter. |
|
Date of instrument
Creating the charge |
22.11.2011 |
|
Amount secured by
the charge |
Rs. 750.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Terms of repayment Working Capital:
Repayable on Demand Margin CC/WCDL/FCDL:
25%on stocks and Book debts (Cover period - 180days). Unpaid stocks under LCs
and sundry creditors to be excluded. Letter of Credit
(inland/import)/LOU Buye's credit. Bank Guarantee: 5%
to be kept in the form of fixed deposit marked under lien to the
bank.100%cash margin in case of disputed liabilities. |
|
Short particulars
of the property charged (Including location of the property) |
First Pari Passu
charge on the entire present and future Current Assets, Movable Assets and
Fixed Assets belonging to the Company Other existing
securities remain same. |
|
Charge
identification number of the charge to be modified |
80028476 |
|
Date of
instrument modifying the charge |
24.11.2010 |
|
Particulars of
the present modification |
By the present
modification, the overall limit has been enhanced from Rs.550.000 millions to
Rs.750.000 millions and secured by the Current Assets, Movable Fixed Assets
and Fixed Assets belonging to the Company, by way of First Pari Passu charge. Other existing
securities remain same. |
FIXED ASSETS
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixtures
·
Vehicles
WEB SITE DETAILS
GROUP PROFLIE
Subject group with the core business of Chemical distribution has been
built on strong values such as Integrity, Customer Satisfaction, Ethical
Business Practice and commitment to SHE ( Safety, Health and Environment ). Mr.
M. Ponnuswami, a first generation entrepreneur, has built the company with a
strong vision and Pan India presence. The passion for customized service
catalyzed the growth of the company. Over the last 30 Years, the commitment to
business and goodwill earned brought the company new agencies of domestic and
International manufacturers and the new agencies brought avenues to provide
basket of product to different segment of the industry. The company exports
chemicals, as part of the growth strategy, by leveraging on the benefit of SEZ
established in Kandla.
The group provides value addition in the supply chain by offering
infrastructure such as, Network of Branches with ware house, Qualified Sales
Team, Underground Storage Tanks with barrel filling station for solvents in
strategically important places, Quality control lab, Technical service lab for
specialty chemicals and Ethical work culture. With the support of Customers and
Suppliers, today the company finds place in the list of leading distribution
companies in India. The group has diversified in to renewable Energy.
OPERATIONS
The company has established Regional
and Branch Managers to closely interact
with end users and to serve them. Recognizing the service requirements, the
company operates two broad SBU's , Basic Chemicals and Specialty Chemicals. The company
meets the requirements both in bulk and standard packing. Agencies of Domestic
and International manufacturers are being lined up aligning with the business
need of the SBU's. Bulk imports are carried out in Kandla, Mumbai and Ennore ports while FCL lots are
being imported in all leading ports to meet customer requirements with best
possible cost to serve.
The bulk solvents, from Domestic and International manufacturers are
repacked in standard packing size to meet the retail requirements of the
consumers. SOP is set in place to monitor and to ensure quality parameters in
line with the manufacturer.
All branches are connected by Oracle based ERP network to
provide MIS data to give the Managers an edge to take decisions.
As a part of the growth plan, chemicals from India are being
exported to countries like Srilanka, Nigeria, Bangladesh and Middle East. The
warehouse established in Kandla Special Economic Zone operates in the same way
as they are in Singapore and Middle East, by providing a competitive edge.
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. 52.78 |
|
|
1 |
Rs. 81.78 |
|
Euro |
1 |
Rs. 67.46 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
50 |
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.