MIRA
INFORM REPORT
|
Report Date : |
28.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
ARINTEX GLOBAL LIMITED |
|
|
|
|
Registered Office : |
2C, Narayani 2 A, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation : |
01.03.1996 |
|
|
|
|
Com. Reg. No.: |
21-77733 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.57.147 millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U17111WB1996PLC077733 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
CALA03660G |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AACCA3664R |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business : |
Trader of Iron and Steel Products, Agro Commodities, Chemicals and
Manufacturer of Textiles, Readymade Garments.
|
|
|
|
|
No. of Employees : |
15 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 300000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. Trade relations are reported as fair.
Business is active. Payments are reported to be slow but correct. The company can be considered for business dealing with slight
caution. |
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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Ramesh |
|
Designation : |
Accounts Head |
|
Contact No.: |
91-33-24753500 |
|
Date: |
28.01.2012 |
LOCATIONS
|
Registered Office : |
2C, Narayani 2 A, |
|
Tel. No.: |
91-33-24753500 |
|
Fax No.: |
91-33-24746759 |
|
E-Mail : |
|
|
Area : |
6000 Sq. fts. |
|
Location : |
Rented |
|
|
|
|
Factory : |
Khardah, 24 Parganas North Kolkata, Kolkata – 700 005, West Bengal,
India |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Nilesh Todi |
|
Designation : |
Director |
|
Address : |
22, |
|
Date of Birth/Age : |
24.11.1975 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
16.07.2001 |
|
Election Commission Identity Card No.:
|
WB 21-140-252117 |
|
DIN No.: |
00029228 |
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 |
U17122WB1969PTC027607 |
Kumar
Para Textile Mills Private Limited |
Director |
01-02-94 |
01-02-94 |
Active |
NO |
|
2 |
U28991WB1983PTC095268 |
M M
P Exim Private Limited |
Director |
14-12-96 |
14-12-96 |
Active |
NO |
|
3 |
U51109WB1990PTC048346 |
Continental
Agencies Private Limited |
Director |
04-07-00 |
04-07-00 |
Active |
NO |
|
4 |
U17111WB1996PLC077733 |
Arintex
Global Limited |
Director |
16-07-01 |
16-07-01 |
Active |
NO |
|
5 |
U28991WB1983PTC095269 |
Mmp
Enviro Tech Private Limited |
Director |
28-09-01 |
28-09-01 |
Active |
NO |
|
6 |
U29197WB2003PTC096050 |
Mmp-Filtration
Private Limited |
Whole-time
director |
01-07-09 |
11-04-03 |
Active |
NO |
|
7 |
U51909WB2003PTC096277 |
Eros
Fashion Private Limited |
Director |
27-05-03 |
27-05-03 |
Active |
NO |
|
|
|
|
Name : |
Mr. Laxmi Kant Todi |
|
Designation : |
Director |
|
Address : |
22, |
|
Date of Birth/Age : |
07.04.1953 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
01.08.2003 |
|
Election Commission Identity Card No.:
|
WB 21-140-252341 |
|
DIN No.: |
00029192 |
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 |
U51909WB1994PTC064595 |
Calcutta
Vincom Private Limited |
Director |
07-11-94 |
07-11-94 |
- |
Active |
NO |
|
2 |
U51909WB1995PTC069331 |
Luckyprime
Management Private Limited |
Director |
28-06-95 |
28-06-95 |
- |
Active |
NO |
|
3 |
U51909WB1994PTC065977 |
Dimple
Vincom Private Limited |
Director |
30-09-95 |
30-09-95 |
- |
Active |
NO |
|
4 |
U51109WB1996PTC079230 |
Hiramoti
Tracon Private Limited |
Director |
26-09-96 |
26-09-96 |
- |
Active |
NO |
|
5 |
U70101WB1996PTC081678 |
Splendid
Towers Private Limited |
Director |
09-10-96 |
09-10-96 |
- |
Active |
NO |
|
6 |
U29197WB2003PTC096050 |
MMP-Filtration
Private Limited |
Managing
director |
17-07-08 |
11-04-03 |
- |
Active |
NO |
|
7 |
U51909WB2003PTC096277 |
Eros
Fashion Private Limited |
Director |
27-05-03 |
27-05-03 |
- |
Active |
NO |
|
8 |
U17111WB1996PLC077733 |
Arintex
Global Limited |
Managing
director |
01-08-03 |
01-08-03 |
- |
Active |
NO |
|
9 |
U67190WB2004PTC098435 |
Multi
Media Insurance Mediator Private Limited |
Director |
28-04-04 |
28-04-04 |
01-05-09 |
Active |
NO |
|
10 |
U72900WB2004PTC098972 |
Western
Infotech Software Development and Training Private Limited |
Director |
05-12-05 |
05-12-05 |
- |
Active |
NO |
|
11 |
U51909WB2009PTC137632 |
Speedwell
Sales Private Limited |
Director |
25-05-10 |
25-05-10 |
- |
Active |
NO |
|
12 |
U52100WB2010PTC148874 |
Greencity
Vincom Private Limited |
Director |
19-07-10 |
19-07-10 |
- |
Active |
NO |
|
13 |
U70109WB2008PTC125676 |
Allegro
Real Estates Private Limited |
Director |
09-04-11 |
09-04-11 |
- |
Active |
NO |
|
|
|
|
Name : |
Mr. |
|
Designation : |
Director |
|
Address : |
22, |
|
Date of Birth/Age : |
09.02.1946 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
21.05.2007 |
|
Election Commission Identity Card No.:
|
WB 23-146-222282 |
|
DIN No.: |
02213954 |
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 |
L17115WB1974PLC029414 |
Hari
Textile Mills Limited |
Director |
01-04-81 |
01-04-81 |
- |
Active |
NO |
|
2 |
U28991WB1983PTC095268 |
M M
P Exim Private Limited |
Director |
19-09-83 |
19-09-83 |
- |
Active |
NO |
|
3 |
U51109WB1990PTC048346 |
Continental
Agencies Private Limited |
Director |
08-02-90 |
08-02-90 |
- |
Active |
NO |
|
4 |
U17122WB1969PTC027607 |
Kumar
Para Textile Mills Private Limited |
Director |
12-06-00 |
12-06-00 |
- |
Active |
NO |
|
5 |
U29197WB2003PTC096050 |
MMP-Filtration
Private Limited |
Director |
28-06-04 |
28-06-04 |
- |
Active |
NO |
|
6 |
U51909WB2003PTC096277 |
Eros
Fashion Private Limited |
Director |
29-06-04 |
29-06-04 |
- |
Active |
NO |
|
7 |
U17111WB1996PLC077733 |
Arintex
Global Limited |
Director |
21-05-07 |
21-05-07 |
- |
Active |
NO |
|
8 |
U51109WB1996PTC079230 |
Hiramoti
Tracon Private Limited |
Director |
01-01-09 |
01-01-09 |
- |
Active |
NO |
|
9 |
U28991WB1983PTC095269 |
Mmp
Enviro Tech Private Limited |
Director |
01-01-09 |
01-01-09 |
- |
Active |
NO |
|
10 |
U70101WB1996PTC081678 |
Splendid
Towers Private Limited |
Director |
01-01-09 |
01-01-09 |
- |
Active |
NO |
|
11 |
U67190WB2004PTC098435 |
Multi
Media Insurance Mediator Private Limited |
Director |
01-01-09 |
01-01-09 |
01-05-09 |
Active |
NO |
|
12 |
U45400WB2000PTC091087 |
Indo
American Developers Private Limited |
Director |
20-12-11 |
20-12-11 |
- |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. S N Barman |
|
Designation : |
Commercial Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Sanjay Kumar Todi |
100 |
|
Ashish Todi |
100 |
|
|
100 |
|
Laxmi Kant Todi |
100 |
|
Nilesh Todi |
100 |
|
Rekha Kedia |
100 |
|
HP Todi and SD Toadi |
2500 |
|
SK Todi and Archana Todi |
2500 |
|
LK Todi and Kusum Todi |
2500 |
|
KK Todi and Majula Todi |
2500 |
|
Arun Kumar
Kedia |
46000 |
|
SK Todi and Ashish Todi |
505000 |
|
SD Todi and OP Todi |
530000 |
|
KK Todi and Sarla Devi Todi |
100000 |
|
KK Todi and SK Todi |
125000 |
|
LK Todi and SK Todi |
1267500 |
|
SK Todi and LK Todi |
15000 |
|
SK Todi and KK Todi |
500000 |
|
Madhva Cotton Mills Limited, |
15000 |
|
MMP Exim (Private) Limited, |
923000 |
|
MMP Envirotech (Private) Limited, |
750000 |
|
Ashish Todi and Bhavna Todi |
2500 |
|
Eros Fashion Private Limited, |
925000 |
As on 30.09.2011
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
45.72 |
|
Directors
or relatives of directors |
54.28 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Iron and Steel Products, Agro Commodities, Chemicals and
Manufacturer of Textiles, Readymade Garments.
|
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|
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|
||||||
|
Products : |
|
||||||
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|
|
||||||
|
Imports : |
|
||||||
|
Products : |
Chemicals |
||||||
|
Countries : |
China, Korea |
PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
Unit |
Installed
Capacity |
|
Dyed yarn |
Kgs |
0.66 Lakhs |
|
Knitted Fabrics |
Kgs |
7.38 Lakhs |
|
Knitted Garments |
Pcs |
30 Lakhs |
GENERAL INFORMATION
|
No. of Employees : |
15 Approximately |
|||||||||||||||||||||
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|
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|
Bankers : |
· The Federal Bank Limited Kolkata
Overseas Branch, 21A, Shakespeare Sarani, 1st Floor, Kolkata – 700
017, West · Oriental Bank of Commerce Overseas
Branch (Lord’s Building), 7/1, ·
HDFC Bank Limited, |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
- |
|
|
|
|
Auditors : |
|
|
Name : |
S J M J and Associates Chartered Accountants |
|
Address : |
13A, |
|
Tel. No.: |
91-33-40080626 |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5714700 |
Equity Shares |
Rs.10/- each |
Rs.57.147 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 |
57.147 |
57.147 |
57.147 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.500 |
|
|
3] Reserves & Surplus |
18.109 |
15.512 |
10.560 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
75.256 |
72.659 |
68.207 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
63.156 |
62.007 |
0.470 |
|
|
2] Unsecured Loans |
1.173 |
18.900 |
69.380 |
|
|
TOTAL BORROWING |
64.329 |
80.907 |
69.850 |
|
|
DEFERRED TAX LIABILITIES |
2.999 |
2.749 |
2.534 |
|
|
|
|
|
|
|
|
TOTAL |
142.584 |
156.315 |
140.591 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
45.422 |
49.118 |
52.751 |
|
|
Capital work-in-progress |
1.230 |
0.940 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.810 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
67.311
|
122.099
|
144.884
|
|
|
Sundry Debtors |
68.455
|
74.237
|
114.620
|
|
|
Cash & Bank Balances |
65.133
|
79.934
|
9.949
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
318.483
|
562.898
|
606.390
|
|
Total
Current Assets |
519.382
|
839.168
|
875.843
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
338.044
|
662.204
|
431.683
|
|
|
Current Liabilities |
83.730
|
68.471
|
354.861
|
|
|
Provisions |
2.486
|
2.236
|
1.459
|
|
Total
Current Liabilities |
424.260
|
732.911
|
788.003
|
|
|
Net Current Assets |
95.122
|
106.257
|
87.840
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
142.584 |
156.315 |
140.591 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Operating revenue, net |
3026.494 |
3761.607 |
1546.476 |
|
|
|
Other Income |
1.345 |
0.895 |
6.832 |
|
|
|
TOTAL (A) |
3027.839 |
3762.502 |
1553.308 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
2918.858 |
3681.894 |
|
|
|
|
Employee related expenses |
0.762 |
0.763 |
|
|
|
|
Administrative selling other expenses |
3.645 |
7.163 |
|
|
|
|
TOTAL (B) |
2923.265 |
3689.820 |
1506.414 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
104.574 |
72.682 |
46.894 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST
FINANCIAL CHARGES (D) |
97.255 |
63.329 |
37.428 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
7.319 |
9.353 |
9.466 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.197 |
3.225 |
3.416 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
4.122 |
6.128 |
6.050 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.524 |
1.176 |
0.890 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
2.598 |
4.952 |
5.160 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
9.834 |
4.674 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
14.786 |
9.834 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Trading Income |
0.000 |
0.000 |
123.942 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.45 |
0.87 |
0.90 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.09
|
0.13
|
0.33
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.14
|
0.16
|
0.39
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.73
|
0.69
|
0.65
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
0.08
|
0.09
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
6.49
|
11.20
|
12.58
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.22
|
1.14
|
1.11
|
LOCAL AGENCY FURTHER INFORMATION
BACKGROUND
The subject is engaged in the business of manufacturing knitted garments
as well as domestic and international trading. Beside garments and textiles,
the company deals in agro commodities, minerals and metals, gems and diamonds
etc. The company was incorporated as a public limited company under the
companies Act, 1956 on 1 March, 1996.
BUSINESS
PERFORMANCE
The company turnover from sale of traded goods dips to Rs.3026.494
millions for the year ended March 31, 2011, which represent a decrease of
19.54% over the previous year’s Rs.3761.607 millions.
Bankers Charges
Report as per Registry
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U17111WB1996PLC077733 |
|
Name of the
company |
ARINTEX GLOBAL LIMITED |
|
Address of the
registered office or of the principal place of business in |
2 C, Narayani, |
|
Type of charge |
·
Movable
Property ·
Others
o
Documents
of title to goods / accepted hundies, etc |
|
Particular of
charge holder |
Oriental Bank of Commerce Overseas Branch (Lord’s Building), 7/1, |
|
Nature of
description of the instrument creating or modifying the charge |
1. Agreement of
Hypothecation of Assets dated 18.03.2008 2. Agreement of
Guarantee dated 18.03.2008 |
|
Date of
instrument Creating the charge |
18.03.2008 |
|
Amount secured by
the charge |
Rs.70.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Letter of credit
(Inland/Import) with 180 days Usance period substituted by Buyers Credit Terms of
Repayment 1 year Margin 20% in the shape
of unencumbered duly discharged FDRs/ CDRs along with interest accrued
thereon Extent and Operation
of the charge Docts. of title
of goods in case of L/C on DP basis. Hypothecation charge over the goods in
case of L/C on DA basis. Hypothecation of
Assets. Exclusive 1st
charge on the merchandise purchased/imported under our LCs and the related
trade debtors. Collateral
security (to be provided) : EQM of Built up
996 sq. ft. office premises at 707 Sagar Tech Plaza-B, Andheri Kurla Road,
Sakinaka, Mumbai owned by MMP Filteration Private Limited alonwith its
Corporate guarantee and personal guarantees. |
|
Short particulars
of the property charged |
Docts. of title
of goods in case of L/C on DP basis. Hypothecation charge over the goods in
case of L/C on DA basis. Hypothecation of
Assets. Exclusive 1st
charge on the merchandise purchased/imported under our LCs and the related
trade debtors. Collateral
security (to be provided) : EQM of Built up
996 sq. ft. office premises at 707 Sagar Tech Plaza-B, Andheri Kurla Road,
Sakinaka, Mumbai owned by MMP Filteration Private Limited alonwith its Corporate
guarantee and personal guarantees. |
FIXED ASSETS
·
Land
·
Building
·
Plant and Machinery
·
Laboratory Equipment
·
Computer and Software
·
Office Equipment
·
Vehicle
·
Furniture and Fixture
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.49.64 |
|
|
1 |
Rs.77.79 |
|
Euro |
1 |
Rs.65.04 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
29 |
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.