|
Report Date : |
30.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
SANGHAVI EXPORTS INTERNATIONAL PRIVATE
LIMITED (w.e.f. 16.04.2007) |
|
|
|
|
Formerly Known
as: |
SANGHAVI EXPORTS (PARTNERSHIP) |
|
|
|
|
Registered
Office : |
502, Prasad Chambers, Tata Road No.2, Opera House, Mumbai – 400004,
Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
16.04.2007 |
|
|
|
|
Com. Reg. No.: |
170013 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.242.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36911MH2007PTC170013 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Diamonds |
|
|
|
|
No. of Employees
: |
1500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 10200616 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was established as a partnership concern in the year 1984 with
the name ‘Sanghavi Exports’ and Later it converted into private company in
the year 2007 with the name ‘ Sanghavi Exports International Private
Limited’. It is an established company having satisfactory track. Profitability
appears to be low. However, trade relations are reported as decent. Business is active.
Payments are reported to be usually correct and as per commitments. The company can be considered 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
BBB (Long Term Bank Facilities) |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
13.12.2011 |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Sandeep |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-23643998 |
|
Date : |
30.07.2012 |
LOCATIONS
|
Registered Office : |
502, Prasad Chambers, Tata Road No.2, Opera House, Mumbai – 400004, Maharashtra,
India |
|
Tel. No.: |
91-22-23643998 |
|
Fax No.: |
91-22-23632033 |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Branches : |
402, Mehta Mahel Opera House, Mumbai – 400004, Maharashtra, India |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Chandrakantbhai Ravchandbhai Sanghavi |
|
Designation : |
Director |
|
Address : |
25/252 Pariki Plot No.1, Behind Tribhuvan Complex, Athwalines, Surat –
395007, Gujarat, India |
|
Date of Birth/Age : |
06.12.1951 |
|
Date of Appointment : |
16.04.2007 |
|
|
|
|
Name : |
Mr. Ketankumar Kirtilal Sanghavi |
|
Designation : |
Director |
|
Address : |
1301, Chandanbala, 13th Floor, Ratilal Thakkar Marg,
Walkeshwar, Mumbai – 400006, Maharashtra, India |
|
Date of Birth/Age : |
02.06.1972 |
|
Date of Appointment : |
16.04.2007 |
|
|
|
|
Name : |
Mr. Rameshchandra Ravchandbhai Sanghavi |
|
Designation : |
Director |
|
Address : |
3, Sanghavi Bunglow, Nr. Indoor Stadium,Tribhuvan Complex, Ghod Dod Road, Dist., Surat - 395002, Gujarat, India |
|
Date of Birth/Age : |
29.08.1949 |
|
Date of Appointment : |
16.04.2007 |
|
|
|
|
Name : |
Mr. Kalpesh Vasantlal Sanghavi |
|
Designation : |
Director |
|
Address : |
19, Kailash Niketan Society, 24, l. D. Ruparel Marg, Walkeshwar, Mumbai- 400006, Maharashtra, India |
|
Date of Birth/Age : |
01.06.1968 |
|
Date of Appointment : |
16.04.2007 |
|
|
|
|
Name : |
Mr. Kirtilal Ravchandbhai Sanghavi |
|
Designation : |
Director |
|
Address : |
Sy no. 2369 / 7 2369 / 8 Ep 251 252 Paiy, plot 4 b / h Tribuuvan
Complex Athwalines, Surat - 395002, Gujarat, India |
|
Date of Birth/Age : |
02.11.1947 |
|
Date of Appointment : |
16.04.2007 |
|
|
|
|
Name : |
Mr. Jayesh Vasantlal Sanghavi |
|
Designation : |
Director |
|
Address : |
19, Kailash Niketan Society, 24, l. D. Ruparel
Marg, Walkeshwar, Mumbai- 400006, Maharashtra, India |
|
Date of Birth/Age : |
08.10.1974 |
|
Date of Appointment : |
16.04.2007 |
|
|
|
|
Name : |
Mr. Virendrakumar Kirtilal Sanghavi |
|
Designation : |
Director |
|
Address : |
1 vir Ratna Bunglow No. 1, Tribhuvan Complex, Opp. Indor
Stadium Ghodhar Road, Surat -395007, Gujarat, India |
|
Date of Birth/Age : |
25.05.1979 |
|
Date of Appointment : |
16.04.2007 |
|
|
|
|
Name : |
Mr. Aagam Chandrakantbhai Sanghavi |
|
Designation : |
Director |
|
Address : |
Aagaman Sanghavi Bunglow - 2, Opp - Indoor Stadium,
Athwalines, Surat -395007, Gujarat, India |
|
Date of Birth/Age : |
18.11.1983 |
|
Date of Appointment : |
16.04.2007 |
KEY EXECUTIVES
|
Name : |
Mr. Sandeep |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Chandrakantbhai Ravchandbhai Sanghavi |
|
1100000 |
|
Chandrakantbhai Ravchandbhai Sanghavi (HUF) |
|
3520000 |
|
Ketankumar Kirtilal Sanghavi |
|
880000 |
|
Kirtilal Ravchandbhai Sanghavi |
|
440000 |
|
Kirtilal Ravchandbhai Sanghavi (HUF) |
|
3520000 |
|
Virenkumar Kirtilal Sanghavi |
|
660000 |
|
Rameshchandra Ravchandbhai Sanghavi |
|
660000 |
|
Rameshchandra Ravchandbhai Sanghavi (HUF) |
|
3960000 |
|
Sanghavi Family Trust (HUF) |
|
660000 |
|
Jayesh Vasantlal Sanghavi |
|
616000 |
|
Kalpesh Vasantlal Sanghavi |
|
616000 |
|
Sanghavi Jewellery Manufacturing Private Company Limited, Mumbai |
|
4180000 |
|
Vasantlal Ravchandbhai Sanghavi (HUF) |
|
1100000 |
|
Roseate Trading Private Limited, Mumbai |
|
1000000 |
|
Cohort Mercantile Private Limited, Mumbai |
|
1000000 |
|
Cupidity Trading Private Limited, Mumbai |
|
200000 |
|
Bhartiben V. Sanghavi |
|
88000 |
|
Total |
|
24200000 |
AS ON 30.09.2011
|
Category |
Percentage |
|
Bodies corporate |
26.36 |
|
Directors or relatives of Directors |
20.91 |
|
Other top fifty shareholders |
52.73 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Diamonds |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Credit |
|
|
|
|
Purchasing : |
Cash, Credit |
GENERAL INFORMATION
|
Suppliers : |
Waregem, Belgium |
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
|
Customers : |
·
Wholesalers ·
Retailers ·
Sanghavi Diamond Inc, New York |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
1500 (Approximately) |
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
|
Bankers : |
· Bank of India, Opera House Branch , Hermes House , Mama Parmanand Marg , Opera House, Mumbai - 400004, Maharashtra, India ·
Allahabad Bank, International Branch, T/4 ,
World Trade Centre , 2nd Floor ,Cuffe Parade,, Mumbai - 400005, Maharashtra,
India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
Footnotes (A) Packing credit
(PC/PCFC) 2179481524 Post shipment credit (PSC/PSCFC) 2892819819 (Working
capital loans are secured against hypothecation of
stock, stock-in-proces, receivables etc and collateral secuirty held on pari
passu with consortium members and personal guarantees of
directors, shareholders and property owners.) (B) Packing credit
(PC/PCFC) 2208299331 Post shipment credit (PSC/PSCFC) 3505391498 (Working
capital loans are secured against hypothecation of
stock, stock-in-proces, receivables etc and collateral secuirty held on pari
passu with consortium members and personal guarantees of
directors, shareholders and property owners.)
Footnotes (A) From
shareholders 191439758 From relatives of directors/shareholders 0 From others
4042063 (The above loan have no fixed repayment schedule) (B) From
shareholders 157786225 From relatives of directors/shareholders 3600000 From
others 4034227 (The above loan have no fixed repayment
schedule) |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
J. K. Shah and Company Chartered Accountant |
|
Address : |
3rd Floor, Flat No. 14, Al-Karim Manzil, 15, Palton Road, Mumbai –
400001,
Maharashtra, India |
|
|
|
|
Subsidiaries : |
· Sanghavi Diamonds Manufacturing Private Limited · Sanghavi Diamonds Private Limited · Sanghavi Star Retail Private Limited · Sanghavi Exports (Israel) Private Limited · Sanghavi Jewels Private Limited ·
Sanghavi Exports Limited (Hong Kong) ·
Royal Estate Holding Private Limited |
|
|
|
|
Fellow
subsidiaries: |
· Sanghavi Jewellery , Tokyo · Sanghavi Diamonds Inc, New York · Sanghavi Diamonds Inc, LA · Sanghavi Fareast Pte Limited, · Singapore Rare Gems BVBA, Antwerp · Sanghavi Diamond (Shanghai) Co Limited |
|
|
|
|
Joint venture: |
Spectrum Jewellery |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250000000 |
Equity Shares |
Rs.10/- each |
Rs.2500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
242000000 |
Equity Shares |
Rs.10/- each |
Rs.2420.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
12000.000 |
|
|
|
|
|
Expected Sales (2012-2013) : Rs.12000.000 Millions
The above information has been parted by Mr. Sandeep (Accounts Manager)
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
242.000 |
242.000 |
242.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2308.154 |
2159.792 |
2061.384 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2550.154 |
2401.792 |
2303.384 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
5073.703 |
5714.338 |
7083.069 |
|
|
2] Unsecured Loans |
270.895 |
286.571 |
218.421 |
|
|
TOTAL BORROWING |
5344.598 |
6000.909 |
7301.490 |
|
|
DEFERRED TAX LIABILITIES |
34.491 |
31.129 |
24.185 |
|
|
|
|
|
|
|
|
TOTAL |
7929.243 |
8433.830 |
9629.059 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
384.794 |
347.643 |
311.590 |
|
|
Capital work-in-progress |
23.671 |
44.046 |
80.975 |
|
|
|
|
|
|
|
|
INVESTMENT |
175.936 |
118.100 |
126.490 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3487.203
|
2620.545 |
2809.303 |
|
|
Sundry Debtors |
5443.518
|
6376.976 |
7719.993 |
|
|
Cash & Bank Balances |
25.357
|
29.587 |
80.310 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
116.569
|
201.857 |
255.941 |
|
Total
Current Assets |
9072.647
|
9228.965 |
10865.547 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1707.823
|
1283.755 |
1735.961 |
|
|
Other Current Liabilities |
11.742
|
13.954 |
14.517 |
|
|
Provisions |
8.240
|
7.215 |
5.065 |
|
Total
Current Liabilities |
1727.805
|
1304.924 |
1755.543 |
|
|
Net Current Assets |
7344.842
|
7924.041 |
9110.004 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
7929.243 |
8433.830 |
9629.059 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
10779.892 |
11489.931 |
13433.913 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
10559.069 |
11320.129 |
13327.121 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
220.823 |
169.802 |
106.792 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
72.461 |
67.513 |
17.385 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
148.362 |
102.289 |
89.407 |
|
|
|
|
|
|
|
|
|
Less |
PRIOR YEAR TAX
ADJUSTMENT |
0.000 |
3.881 |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
461.792 |
363.384 |
273.977 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
610.154 |
461.792 |
363.384 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
10886.427 |
7263.809 |
7357.837 |
|
|
TOTAL EARNINGS |
10886.427 |
7263.809 |
7357.837 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.38
|
0.89 |
0.67 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.33
|
1.77 |
0.96 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.07 |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.77
|
3.04 |
3.93 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.25
|
7.07 |
6.19 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS DETAILS:
PARTICULARS
|
Rs.
In Millions 31.03.2011 |
Rs.
In Millions 31.03.2010 |
Rs.
In Millions 31.03.2009 |
Sundry Creditors
|
|
|
|
|
Creditors due small micro enterprises |
0.000 |
0.000 |
0.000 |
|
Creditors due others |
1707.823
|
1283.755 |
1735.961 |
|
Sr. No. |
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 |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------------------- |
|
26] |
Buyer visit details |
No |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
32] |
Passport No of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
FORM 8:
|
Corporate
identity number of the company |
U36911MH2007PTC170013 |
|
Name of the
company |
SANGHAVI EXPORTS
INTERNATIONAL PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
502, Prasad
Chambers, Tata Road No.2, Opera House,
Mumbai – 400004, Maharashtra, India |
|
This form is for |
Modification of
charge |
|
Type of charge |
Book Debts Movable Property |
|
Particular of
charge holder |
Bank of India |
|
Nature of
instrument creating charge |
Second
Supplemental Joint deed of Hypothecation. |
|
Date of instrument
Creating the charge |
16/04/2012 |
|
Amount secured by
the charge |
Rs.7020.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Int. shall be charged
on the outstanding in the said account(s) at such rate or rates as may be
determined by the said Banks or at such other rates as may be notified by the
banks from time to time. Terms of
Repayment Om Demand. Margin The Borrower
shall maintain such security margin as may be stipulated by the said Banks. Extent and
Operation of the charge The Charge by way
of hypothecation hereby created on the said hypothecated assets shall be a
security by way of first charge in favour of said Banks jointly and to each
of them severally for due repayment and discharge on demand of said facilities to the said Banks together
with interest thereon at the agreed rates and rests as mentioned in said
consortium agreement and all costs, charges, expenses and other monies
payable in respect of said facilities. |
|
Short particulars
of the property charged |
Hypothecation by
way of first charge in favour of said
Banks jointly and to each of them severally all and singular Borrowers stocks of raw materials, semi
finished and finished goods, stores and spares (consumable stores and spares)
bills receivables, Book Debts , plant and machinery and all other movables of Borrower
(excluding such movables as are permitted by said Banks from time to time )
but including documents of title to
goods and other assets |
|
Date of
instrument modifying the charge |
12/05/2008 |
|
Particulars of
the present modification |
The principal
amount of charge of BOI Consortium on the hypothecated assets is revised from
Rs.7800.000 Millions To Rs.7020.000 Millions. |
DIAMOND INDUSTRY –
INDIA
-
From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of diamonds
but history says that in the remote past, diamonds were mined only in India.
Diamond production in India can be traced back to almost 8th Century
B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
-
The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
-
Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
-
Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
-
The diamond jewellery industry in India today may be more
than Rs 60000 mil and is rated amongst the fastest growing in the world.
Indi ranks third in the world in domestic diamond consumption.
-
Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
-
Excerpts from Times of India dated 30th
October 2010 is as under –
DIAMOND
SAGA – DIRTY DOZEN STUCK WITH 2K CR DEBT
This could be the biggest credibility crisis
the Indian diamond industry has ever faced. Fifteen banks run the risk of
losing Rs 2000 crore lent to a dozen diamond firms in Surat. Until about two
months ago, they had not repaid these dues. Bankers believe many
diamantaires borrowed money during the economic downturn two years ago and
diverted funds to businesses like real estate and capital markets. Many of
themselves made money from these businesses but their diamond companies have
gone sick and declared insolvency.
-
Most of the money borrowed from the banks in the name
of their diamond business has been diverted in real estate and the share
market. The banks are not in a position to seize their properties because in
many cases, these were purchased in the name of their relatives and friends.
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.55.44 |
|
|
1 |
Rs.87.12 |
|
Euro |
1 |
Rs.68.15 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
SDA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
|
45 |
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.