|
Report Date : |
04.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
BLUEWATER FOODS AND EXPORTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
281/282, Industrial Area Baikampady, Mangalore – 575011, Karnataka |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
21.03.1997 |
|
|
|
|
Com. Reg. No.: |
08-021995 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 35.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51223KA1997PTC021995 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRB02594E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCB1953B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Processors and Exporters of Frozen Marine Products. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 300000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. 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) |
|
|
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 : |
281/282, Industrial Area Baikampady, Mangalore – 575011, |
|
Tel. No.: |
91-824-2406048/2406051/ 2406052/ 3254025 |
|
Fax No.: |
91-824-2406049 |
|
E-Mail : |
DIRECTORS
As on 12.09.2011
|
Name : |
Mr. Memana Ramachandra Premachandra Bhat |
|
Designation : |
Chairman / Director |
|
Address : |
Memana House,
H.No. 11/31, Kannamali, Ernakulam – 682008, |
|
Date of Birth/Age : |
15.02.1961 |
|
Date of Appointment : |
17.06.1999 |
|
DIN No.: |
00007391 |
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 |
U51223KA1997PTC021995 |
BLUEWATER FOODS
AND EXPORTS PRIVATE LIMITED |
Director |
17-06-99 |
17-06-99 |
Active |
NO |
|
2 |
U45309KL1999PLC013528 |
SEAFOOD PARK
INDIA LIMITED |
Director |
17-05-00 |
17-05-00 |
Active |
NO |
|
3 |
U15124KL2002PTC015617 |
MANGALA MARINE
EXIM INDIA PRIVATE LIMITED |
Whole-time
director |
29-08-02 |
29-08-02 |
Active |
NO |
|
4 |
U15124KL2004PTC017209 |
PESCASOL FOODS
INDIA PRIVATE LIMITED |
Managing
director |
22-06-04 |
22-06-04 |
Active |
NO |
|
5 |
U15127KL1994PTC008296 |
ROSHAN FOODS
PRIVATE LIMITED |
Director |
31-05-05 |
31-05-05 |
Active |
NO |
|
6 |
U45202KL2006PTC019862 |
BHATSONS
PROPERTIES PRIVATE LIMITED |
Managing
director |
18-09-06 |
18-09-06 |
Active |
YES |
|
7 |
U91200KL1970NPL002301 |
SEA FOOD
EXPORTERS ASSOCIATION OF |
Director |
15-12-07 |
15-12-07 |
Active |
NO |
|
8 |
U15110KL2008PTC022479 |
MONSUN FOODS
PRIVATE LIMITED |
Director |
23-05-08 |
23-05-08 |
Active |
NO |
|
9 |
U51229KL1996PLC010218 |
KERALA SEAFOOD
EXPORTERS WELFARE SOCIETY LIMITED |
Director |
22-12-09 |
30-07-08 |
Active |
NO |
|
Name : |
Mr. Memana Ramachandra Sreenivasa Bhat |
|
Designation : |
Managing
Director |
|
Address : |
Memana House,
IX/50, Kannamaly PO, |
|
Date of Birth/Age : |
03.02.1968 |
|
Date of Appointment : |
17.06.1999 |
|
DIN No.: |
00008005 |
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 |
U51223KA1997PTC021995 |
BLUEWATER FOODS
AND EXPORTS PRIVATE LIMITED |
Managing
director |
17-06-99 |
17-06-99 |
Active |
NO |
|
2 |
U15124KL2002PTC015617 |
MANGALA MARINE
EXIM INDIA PRIVATE LIMITED |
Whole-time
director |
29-08-02 |
29-08-02 |
Active |
NO |
|
Name : |
Mr. Memana Ramachandra Ashok Bhat |
|
Designation : |
Director |
|
Address : |
Memana House,
IX/31, Kannamaly – 682008, |
|
Date of Birth/Age : |
13.05.1970 |
|
Date of Appointment : |
17.06.1999 |
|
DIN No.: |
00007422 |
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 |
U51223KA1997PTC021995 |
BLUEWATER FOODS
AND EXPORTS PRIVATE LIMITED |
Director |
17-06-99 |
17-06-99 |
Active |
NO |
|
2 |
U15124KL2002PTC015617 |
MANGALA MARINE
EXIM INDIA PRIVATE LIMITED |
Whole-time
director |
20-05-05 |
20-05-05 |
Active |
NO |
|
3 |
U45202KL2006PTC019862 |
BHATSONS
PROPERTIES PRIVATE LIMITED |
Director |
18-09-06 |
18-09-06 |
Active |
YES |
|
Name : |
Mr. Memana Ramachandra Suresh Bhat |
|
Designation : |
Director |
|
Address : |
Memana House,
IX/31, Kannamaly, Chellanam, Ernakulam – 682008, |
|
Date of Birth/Age : |
01.05.1972 |
|
Date of Appointment : |
17.06.1999 |
|
DIN No.: |
00007484 |
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 |
U51223KA1997PTC021995 |
BLUEWATER FOODS
AND EXPORTS PRIVATE LIMITED |
Director |
17-06-99 |
17-06-99 |
Active |
NO |
|
2 |
U15124KL2002PTC015617 |
MANGALA MARINE
EXIM INDIA PRIVATE LIMITED |
Whole-time
director |
29-08-02 |
29-08-02 |
Active |
NO |
|
3 |
U15124KL2004PTC017209 |
PESCASOL FOODS
INDIA PRIVATE LIMITED |
Director |
22-06-04 |
22-06-04 |
Active |
NO |
|
Name : |
Mr. Susanth Surendranath Mallya |
|
Designation : |
Director |
|
Address : |
CC 18/466, |
|
Date of Birth/Age : |
01.07.1975 |
|
Date of Appointment : |
06.08.2004 |
|
DIN No.: |
01671671 |
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 |
U51223KA1997PTC021995 |
BLUEWATER FOODS
AND EXPORTS PRIVATE LIMITED |
Director |
06-08-04 |
06-08-04 |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Memana Ramachandra Premachandra Bhat |
|
Designation : |
Chairman |
|
Address : |
Memana House,
H.No. 11/31, Kannamali, Ernakulam – 682008, |
|
Date of Birth/Age : |
15.02.1961 |
|
Date of Appointment : |
17.06.1999 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 12.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Chandrakant Timmappa Pai |
|
6732 |
|
Jagadish T. Pai |
|
5260 |
|
M. R. Premchandra Bhat |
|
44667 |
|
M. R. Sreenivas Bhat |
|
169258 |
|
M. R. Ashok Bhat |
|
44667 |
|
M. R. Suresh Bhat |
|
43416 |
|
Susanth. S. Mallya |
|
8000 |
|
Dhanya S. Bhat |
|
2500 |
|
Veena S. Bhat |
|
2500 |
|
Sandhya P. Bhat |
|
2500 |
|
Rekha A. Bhat |
|
2500 |
|
Sunanda R. Bai |
|
3000 |
|
Total |
|
335000 |
As on 30.01.2012
|
Names of Allottees |
|
No. of Shares |
|
M.R. Sreenivas Bhat |
|
15000 |
|
Total |
|
15000 |
As on 12.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Processors and Exporters of Frozen Marine Products. |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
Blue Diamond,
Priya and Topfish |
PRODUCTION STATUS
|
Particulars |
As
on 31.03.2011 |
|
|
|
|
Installed Capacity |
Not Applicable |
|
Actual Production |
7182.820 |
|
|
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||||||||
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|
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|
Bankers : |
The South Indian Bank Limited, |
|||||||||||||||||||||||||||||||||
|
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|
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|
Facilities : |
|
|||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Vinodh Rao M Chartered Accountant |
|
Address : |
Sudharshan, Near
Mangala Stadium, Gandhinagar 6th Cross, Mangalore – 575003, |
|
PAN.: |
ABJPR9441C |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
350000 |
Equity Shares |
Rs. 100/- each |
Rs. 35.000 Millions |
|
|
|
|
|
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
335000 |
Equity Shares |
Rs. 100/-
each |
Rs. 33.500
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 |
33.500 |
17.500 |
17.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
55.965 |
48.998 |
37.798 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
89.465 |
66.498 |
55.298 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
170.228 |
184.295 |
159.972 |
|
|
2] Unsecured Loans |
87.156 |
46.504 |
46.504 |
|
|
TOTAL BORROWING |
257.384 |
230.799 |
206.476 |
|
|
DEFERRED TAX LIABILITIES |
5.159 |
3.559 |
2.010 |
|
|
|
|
|
|
|
|
TOTAL |
352.008 |
300.856 |
263.784 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
126.646 |
107.325 |
101.512 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
6.927 |
2.579 |
2.579 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
179.290
|
168.577 |
145.042 |
|
|
Sundry Debtors |
21.822
|
26.263 |
7.198 |
|
|
Cash & Bank Balances |
2.322
|
2.086 |
0.712 |
|
|
Other Current Assets |
0.542
|
0.849 |
0.000 |
|
|
Loans & Advances |
87.949
|
63.475 |
53.530 |
|
Total
Current Assets |
291.925
|
261.250 |
206.482 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
60.394
|
62.810 |
38.849 |
|
|
Other Current Liabilities |
5.758
|
3.270 |
3.469 |
|
|
Provisions |
7.338
|
4.218 |
4.471 |
|
Total
Current Liabilities |
73.490
|
70.298 |
46.789 |
|
|
Net Current Assets |
218.435
|
190.952 |
159.693 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
352.008 |
300.856 |
263.784 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1056.449 |
692.284 |
607.738 |
|
|
|
Other Income |
NA |
96.950 |
72.080 |
|
|
|
TOTAL |
NA |
789.234 |
679.818 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
767.247 |
661.688 |
|
|
|
|
TOTAL |
NA |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
NA |
21.987 |
18.130 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
NA |
5.020 |
4.496 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
NA |
16.967 |
13.634 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
5.767 |
5.059 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
17.967 |
11.200 |
8.575 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
39.663 |
28.463 |
19.899 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
57.630 |
39.663 |
28.463 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1034.264 |
680.121 |
609.631 |
|
|
TOTAL EARNINGS |
1034.264
|
680.121 |
609.631 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
53.63 |
64.00 |
49.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA |
1.42 |
1.26 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA |
2.45 |
2.24 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
4.60 |
4.43 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
0.26 |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.76
|
4.58 |
4.94 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.97
|
3.72 |
4.41 |
LOCAL AGENCY FURTHER INFORMATION
|
Check list by info
Agents |
Available in Report (Yes/ No) |
|
Year of Establishment |
Yes |
|
Locality of the Firm |
Yes |
|
Constitution of the Firm |
Yes |
|
Premises details |
No |
|
Type of Business |
Yes |
|
Line of Business |
Yes |
|
Promoter’s Background |
Yes |
|
No. of Employees |
No |
|
Name of Person Contacted |
No |
|
Designation of Contact person |
No |
|
Turnover of Firm for last three years |
Yes |
|
Profitability for last three years |
Yes |
|
Reasons for variation <> 20% |
--------- |
|
Estimation for coming financial year |
No |
|
Capital in the business |
Yes |
|
Details of sister concerns |
No |
|
Major Suppliers |
No |
|
Major Customers |
No |
|
Payments Terms |
No |
|
Export/ Imports Details (If applicable) |
No |
|
Market Information |
------------ |
|
Litigations that the firm/ Promoters Involved in |
------------ |
|
Banking details |
Yes |
|
Banking Facility Details |
Yes |
|
Conduct of the Banking Account |
------------- |
|
Buyer visit details |
------------ |
|
Financials, if provided |
Yes |
|
Incorporation details is applicable |
Yes |
|
Last Accounts filed at ROC |
Yes |
|
Major Shareholders, if available |
Yes |
OPERATIONS:
During the year
the company processed 9366.587 MT of Fish and these Fish were procured from
Fishing Harboures situated in the West Coast of Arabian Sea. They have exported
their products to all countries of the world especially to countries like
OUTLOOK FOR
2011-12:
In continuation of
the existing trend, higher profit is expected in the next year on the basis of
the demand for the Company’s Products in the international market and good fish
harvesting in the coming fishing season. The ensuring Financial Year in which
the Annual General Meeting is being held is showing very promising results as
the fishing season has began in full swing. The performance of the company in
this interim period is exceedingly well and they are hopeful of declaring
Dividend for the year 2011-12.
REVIEW OF BUSINESS PERFORMANCE:
The Global
meltdown has drastically affected all the economies of the world including
Form 8
|
Corporate
identity number of the company |
U51223KA1997PTC021995 |
|
Name of the
company |
BLUEWATER FOODS
AND EXPORTS PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
281/282, Industrial Area Baikampady, Mangalore – 575011, |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10004289 |
|
Type of charge |
Immovable property Book Debts Movable Property Floating Charge |
|
Particular of
charge holder |
The South Indian Bank Limited, Email: cms@companiesinn.com |
|
Nature of
description of the instrument creating or modifying the charge |
Agreement of
hypothecation. Agreement of
Deposit of Securities. |
|
Date of
instrument Creating the charge |
31.03.2012 |
|
Amount secured by
the charge |
Rs. 1065.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest PCL/FBP(LC) :
Base Rate FBP(Non LC) :
BR+0.50% FSL(M)/FSL(Building)(Fresh)
: BR+3.00%, One Time ILC[Sub limit to FSL(M)] : As per terms. FC : Commission :
As per terms. Terms of Repayment PCL : On Demand FBP(Non LC) : On
Demand FBP(LC) : On
Demand FSL(M) (Fresh) :
Repayable in 30 monthly installments of Rs.0.750 Millions. FSL(Building)(Fresh)
: Repayable in 30 monthly installments of Rs.0.750 Millions. One Time ILC[Sub
limit to FSL(M)] : On Demand FC : On Demand Margin PCL : 10% of
stock FBP(Non LC) : NA FBP(LC) : NA FSL(M) (Fresh) :
43.03% FSL(Building)(Fresh)
: 39.07% One Time ILC[Sub
limit to FSL(M)] : 20% Extent and Operation of the charge First charge on
all types of raw materials, finished goods, stock in process including goods
in transit and shipment. First charge on actionable claims, other movable
properties including book debts. First charge on
machineries and other fixed assets as appearing in the balance sheet of
31.03.2011. First charge on
all vehicles including accessories/implements other than specifically charged
as appearing in the balance sheet of 31.03.2011. First charge on
the immovable property of the company. Others Agreement of
Deposit of Securities is taken for the total limit of Rs.1071.600 Millions in
which Rs.6.600 Millions has been filed under separate Charge ID 10293721. |
|
Short particulars
of the property charged |
All types of raw
materials, finished goods, stock in process including goods in transit and
shipment and all actionable claims, other movable properties including book
debts, government bills and other assets,
movables plants, machineries and other fixed assets together with all
accessories, spares, tools, implements present and future and other fixed
assets And all vehicles
including accessories/implements other than specifically charged both present
and future. Land admeasuring
2 Acres situated in Sy No.142(Portion) of Baikampady Village, Mangalore
Taluk, together with all buildings, existing and/or to be constructed thereon
in future Land admeasuring
90.43 cents situated in Sy No.142(Portion) of Baikampady Village, Mangalore
Taluk, together with all buildings, existing and/or to be constructed thereon
in future. Land admeasuring
13.17 cents situated in Sy No.101, Shed No:C-136 of Baikampady Village,
Mangalore Taluk, together with all buildings, existing and/or to be
constructed thereon in future. Land admeasuring
1 Acres 14 cents situated in Sy No.18(Portion) of Baikampady Village,
Mangalore Taluk, together with all buildings, existing and/or to be
constructed thereon in future. |
|
Particulars of
the present modification |
The total limit
has been modified to Rs.1065.000 Millions as follows: PCL : Rs.330.000
Millions FBP(Non LC) :
Rs.220.000 Millions FBP(LC) :
Rs.220.000 Millions FSL(M) (Fresh) :
Rs.22.500 Millions One Time ILC[Sub
limit to FSL(M)] : Rs.(10.000) Millions. FSL(Building)(Fresh)
: Rs.22.500 Millions and FC : Rs.250.000 Millions. |
FIXED ASSETS:
AS PER WEBSITES
DETAILS
PROFILES
Highly
technological and the most innovative production facilities are the conspicuous
features of this venture. Established in 1998, this high-end factory is
situated at Mangalore and gets its catch from the central part of the Indian
west coast.
Subject is one of
the largest production setup at Mangalore region. In the inception the company
started production in
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. 55.91 |
|
|
1 |
Rs. 86.03 |
|
Euro |
1 |
Rs. 69.12 |
INFORMATION DETAILS
|
Information
Gathered by : |
|
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
43 |
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.