|
Report Date : |
17.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
SAHELI METALS PRIVATE LIMITED |
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Formerly Known
As : |
SAHELI INTERNATIONAL |
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Registered
Office : |
6/2, Parasuram Bajaj Street, Liluah, Howrah – 711204, West Bengal |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
11.04.2008 |
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Com. Reg. No.: |
21-124913 |
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Capital
Investment / Paid-up Capital : |
Rs.24.275 Millions |
|
|
|
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CIN No.: [Company Identification
No.] |
U27310WB2008PTC124913 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
CALS21868A |
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PAN No.: [Permanent Account No.] |
AAMCS0683G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Dealers of Iron and Steel. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
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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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be very low. However, trade relations are reported as fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealings 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) |
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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 |
LOCATIONS
|
Registered Office : |
6/2, Parasuram Bajaj Street, Liluah, Howrah – 711204, West Bengal,
India |
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Tel. No.: |
91-33-26555280/7119 |
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Fax No.: |
91-33-26555280 |
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E-Mail : |
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Godown: |
246/36, G.T Road, Liluah, Howrah – 711204, West Bengal, India |
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E-Mail : |
DIRECTORS
As on 20.09.2011
|
Name : |
Mr. Samir Hait |
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Designation : |
Director |
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Address : |
61/11, P Road, Kossipore, Howrah – 711105, West Bengal, India |
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Date of Birth/Age : |
08.01.1966 |
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Date of Appointment : |
11.04.2008 |
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DIN No.: |
01940151 |
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Other
Directorship:
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||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Nibedita Hait |
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Designation : |
Director |
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Address : |
61/11, P Road, Kossipore, Howrah – 711105, West Bengal, India |
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Date of Birth/Age : |
10.10.1970 |
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Date of Appointment : |
11.04.2008 |
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DIN No.: |
01956534 |
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Other
Directorship:
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 20.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Samir Hait |
|
155000 |
|
Nibedita Hait |
|
20000 |
|
B K Ispat (Private) Limited, India |
|
1000000 |
|
Sudipta Ispat (Private) Limited, India |
|
1100000 |
|
Rajeshwari Commodeal (Private) Limited, India |
|
17500 |
|
Padma Commodeal (Private) Limited, India |
|
10000 |
|
Chelsea Traders (Private) Limited, India |
|
15000 |
|
Compact Finstock (Private) Limited, India |
|
7500 |
|
Cosmos Real Estate (Private) Limited, India |
|
7500 |
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Diamention Holding (Private) Limited, India |
|
10000 |
|
Divya Prakash Suppliers (Private) Limited, India |
|
5000 |
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Keynesian Financial Services Limited
|
|
7500 |
|
Everest Commerce (Private) Limited, India |
|
7500 |
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Honourable Business (Private) Limited, India |
|
5000 |
|
Jindal Hire Purchase (Private) Limited, India |
|
7500 |
|
Nagancheji Credit (Private) Limited, India |
|
7500 |
|
Rexnox Trexim (Private) Limited, India |
|
7500 |
|
Satyatej Merchants (Private) Limited, India |
|
10000 |
|
Snow White Metals Limited |
|
10000 |
|
Sundrop Towers (Private) Limited, India |
|
7500 |
|
West Overseas Trade Link Private Limited, India |
|
10000 |
|
|
|
|
|
Total |
|
2427500 |
Equity Share Break up (Percentage of Total Equity)
As on 20.09.2011
|
Category |
Percentage |
|
Bodies corporate |
93.00 |
|
Directors or relatives of Directors |
7.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Dealers of Iron and Steel. |
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Products : |
ITC Code |
Product Description |
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|
2601.00 |
Iron Ore |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
State Bank of India, Kadamtala Branch, 47, Deshprah Sasmal Raod,
Howrah – 711101, West Bengal, India |
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Facilities : |
(Rs. in Millions)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Majumder and Company Chartered Accountants |
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Address : |
75, Y Road, Begachia, Howrah – 711108, West Bengal, India |
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Mobile No.: |
91-9830877097 |
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E-Mail : |
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PAN.: |
AEYPM8720P |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs.10/- each |
Rs.25.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2427500 |
Equity Shares |
Rs.10/- each |
Rs.24.275
Millions |
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|
|
|
|
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 |
24.275 |
22.750 |
21.600 |
|
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2] Share Application Money |
0.000 |
85.510 |
0.000 |
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|
3] Reserves & Surplus |
43.858 |
17.249 |
1.010 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
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NETWORTH |
68.133 |
125.509 |
22.610 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
55.693 |
55.527 |
46.800 |
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2] Unsecured Loans |
1.358 |
0.558 |
0.558 |
|
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TOTAL BORROWING |
57.051 |
56.085 |
47.358 |
|
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DEFERRED TAX LIABILITIES |
0.016 |
0.006 |
0.013 |
|
|
|
|
|
|
|
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TOTAL |
125.200 |
181.600 |
69.981 |
|
|
|
|
|
|
|
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APPLICATION OF FUNDS |
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|
|
|
|
|
|
|
|
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|
FIXED ASSETS [Net Block] |
5.191 |
5.567 |
5.867 |
|
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
114.590
|
90.979 |
62.486 |
|
|
Sundry Debtors |
87.045
|
105.786 |
24.042 |
|
|
Cash & Bank Balances |
0.946
|
0.135 |
0.372 |
|
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Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
29.655
|
35.232 |
21.855 |
|
Total
Current Assets |
232.236
|
232.132 |
108.755 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
96.724
|
46.383 |
42.533 |
|
|
Other Current Liabilities |
13.574
|
8.715 |
1.851 |
|
|
Provisions |
2.027
|
1.148 |
0.453 |
|
Total
Current Liabilities |
112.325
|
56.246 |
44.837 |
|
|
Net Current Assets |
119.911
|
175.886 |
63.918 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.098 |
0.147 |
0.196 |
|
|
|
|
|
|
|
|
TOTAL |
125.200 |
181.600 |
69.981 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
481.424 |
392.071 |
160.982 |
|
|
|
Other Income |
1.301 |
1.175 |
0.792 |
|
|
|
TOTAL |
482.725 |
393.246 |
161.774 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase |
486.383 |
400.213 |
187.013 |
|
|
|
Direct Expenses |
3.845 |
1.907 |
1.863 |
|
|
|
Administrative Selling and Other Expenses |
12.425 |
9.524 |
8.145 |
|
|
|
Audit Fee |
0.011 |
0.011 |
0.011 |
|
|
|
Preliminary Expenses Written off |
0.049 |
0.049 |
0.049 |
|
|
|
Increase/(Decrease) in Stock |
(23.611) |
(20.927) |
(37.137) |
|
|
|
TOTAL |
479.102 |
390.777 |
159.944 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
3.623 |
2.469 |
1.830 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.610 |
0.374 |
0.353 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
3.013 |
2.095 |
1.477 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.939 |
0.647 |
0.466 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
2.074 |
1.448 |
1.011 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3.599 |
1.011 |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
RESERVE
FROM EARLIER YEAR |
0.000 |
1.140 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
1.140 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
4.533 |
3.599 |
1.011 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.85 |
0.64 |
0.47 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.43
|
0.37 |
0.62 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.63
|
0.53 |
0.92 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.30
|
0.90 |
1.36 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
0.02 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.49
|
0.90 |
4.08 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.07
|
4.13 |
2.43 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business• |
Yes |
|
7) Promoter’s background |
Yes |
|
8) No. of employees |
No |
|
9) Name of person contacted |
No |
|
10) Designation of contact person |
No |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
No |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U27310WB2008PTC124913 |
|
Name of the
company |
SAHELI METALS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
6/2, Parasuram
Bajaj Street, Liluah, Howrah – 711204, West Bengal, India Email: babakinaram_2006@yahoo.co.in |
|
This form is for
|
Modification of charge |
|
Charge identification
(ID) number of the charge to be modified |
10111038 |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
State Bank of
India, SME Branch, 9, G. T. Road (South), 3rd Floor, Howrah – 711101, West
Bengal, India Email: sbi4150@sbi.co.in |
|
Nature of
instrument creating charge |
Memorandum for
Recording Extension of Mortgage by Deposit of Title Deeds Covering Enhanced
Limits and /or Creation of Equitable Mortgage on Additional Properties for
Existing Limits and Enhanced Limits
and Additional Facilities. |
|
Date of
instrument Creating the charge |
30.12.2009 |
|
Amount secured
by the charge |
Rs.55.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest For Cash Credit @13.75% p.a. with monthly rests. For Stand By Line of Credit @14.75% p.a. with monthly rests. Terms of Repayment The borrowings are repayable on demand. There is no Term Loan in the Credit Facility and as such no terms of
repayment are stated. The loan is for Cash Credit only which is repayable on
demand according to Banking norms. Margin 25% of Finished Goods, and 40% of Domestic Receivables (180 days). Extent and Operation of the charge First Charge on the whole of the mortgaged properties as a continuing
security. |
|
Short
particulars of the property or asset(s) charged (including complete address
and location of the property) |
Land &
Building measuring 9 katha 15 chitak 37 sq.ft. at 6/2, Seth Parasuram Bajaj
Road, P.O. - Liluah, Howrah, C. S. Plot Nos.602, 603, 607, Khatian No.485. Located at: Seth
Parasuram Bajaj Road, P.O. - Liluah, Howrah, West Bengal, India |
|
Particulars of
the present modification |
By this first
modification, the Overall Limit is enhanced from Rs.47.500 Millions to
Rs.55.000 Millions (Rupees Particulars of Immovable Properties and all other
terms and conditions continue to remain as before in full force and effect. |
Fixed Assets
·
Computer
·
Xerox Machine
·
Pump
·
Electrical Installation
·
Air Conditioner
·
Office and Godown
·
Motor Cycle
·
Motor Car
·
Mobile Phone
·
Weigh Machine
·
Bicycle
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.54.91 |
|
|
1 |
Rs.85.46 |
|
Euro |
1 |
Rs.67.15 |
INFORMATION DETAILS
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
34 |
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.