|
Report Date : |
16.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
URJANKUR SHREE DATTA POWER COMPANY LIMITED |
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Registered
Office : |
The IL and FS Financial Center, C 22, Block G, Bandra Kurla Complex,
Bandra [East], Mumbai 400051, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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|
Date of
Incorporation : |
19.03.2008 |
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|
Com. Reg. No.: |
11-180290 |
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Capital
Investment / Paid-up Capital : |
Rs.595.529 Millions |
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|
|
|
CIN No.: [Company Identification
No.] |
U40108MH2008PLC180290 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMU05544A |
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Generating Electricity |
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|
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|
No. of Employees
: |
130 [Approximately] |
RATING & COMMENTS
|
MIRAs Rating : |
B [26] |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 2486240 |
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|
Status : |
Project Under Implementation |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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|
Comments : |
Subject is a part of infrastructure leasing and financial services
limited [L and FS], Initially, the company can be considered for business dealings with
some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION PARTED BY [GENERAL DETAILS]
|
Name : |
Mr. Dipu |
|
Designation : |
Deputy Manager |
|
Date : |
15.06.2012 |
LOCATIONS
|
Registered Office : |
The IL and FS Financial Center, C 22, Block G, Bandra Kurla Complex,
Bandra [East], Mumbai 400051, Maharashtra, India |
|
Tel. No.: |
91-22-26533333 / 26593540 |
|
Fax No.: |
91-22-26523979 |
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E-Mail : |
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Website : |
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Location: |
Owned |
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|
|
|
Plant : |
Dattanagar, Taluka Shirol, District Kolhapur, Maharashtra, India |
DIRECTORS
AS ON 29.09.2011
|
Name : |
Mr. Sachin Baldeoprasad Gupta |
|
Designation : |
Director |
|
Address : |
Flat No. 8,Abdul Court Chs Limited, Plot No.1161, Suryavanshi K S
Marg, Dadar, Mumbai 400028, Maharashtra, India |
|
Date of Birth/Age : |
06.07.1960 |
|
DIN : |
00145550 |
|
Date of Appointment : |
19.03.2008 |
|
|
|
|
Name : |
Mr. Ateesh Avinash Samant |
|
Designation : |
Director |
|
Address : |
3/51 ,Madhavi Co-Operative Housing Society, |
|
Date of Birth/Age : |
13.08.1969 |
|
DIN : |
01875732 |
|
Date of Appointment : |
31.12.2009 |
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|
|
|
Name : |
Ms. Smita Sharad Ranade |
|
Designation : |
Director |
|
Address : |
Ganesh Smriti,
Block No 003,Ground Floor, |
|
Date of Birth/Age : |
16.12.1957 |
|
Din : |
02629028 |
|
Date of Appointment : |
26.03.2009 |
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|
|
|
Name : |
Mr. Anand M. Limaye |
|
Designation : |
Director |
|
Address : |
C35 Gulmohar, |
|
Date of Birth/Age : |
01.06.1963 |
|
Din : |
02672619 |
|
Date of Appointment : |
16.09.2009 |
KEY EXECUTIVES
|
Name : |
Mr. Umesh K. Shah |
|
Designation : |
Manager |
|
Address : |
D 203, Shree Vijapur Co Operative Housing Society, Ashok Nagar,
Kandivali East, Mumbai 400101, |
|
Date of Birth/Age : |
18.08.1976 |
|
Date of Appointment : |
27.12.2010 |
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|
|
|
Name : |
Ms. Charmy Bhoot |
|
Designation : |
Company Secretary |
|
Address : |
4th Floor, TPS V, Road No.2, Santacruz (East), Mumbai
400055, Maharashtra, India |
|
Date of Birth/Age : |
13.06.1985 |
|
Date of Appointment : |
27.12.2010 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
IL and FS Trust Company Limited A/c Urjankur Nidhi Trust), India |
|
45042868 |
|
K Ramchand |
|
10 |
|
Ajay Menon |
|
10 |
|
Ateesh Samant |
|
10 |
|
Sandeep Hasurkar |
|
10 |
|
Avinash Bapat |
|
10 |
|
Amogh Gore |
|
10 |
|
Infrastructure Leasing and Financial Services, |
|
22520000 |
|
Total |
|
67562928 |
AS ON 29.09.2011
|
Category |
Percentage |
|
Venture Capital |
66.67 |
|
Bodies corporate |
33.33 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Generating Electricity |
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Products : |
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Terms : |
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Selling : |
Cash / Credit |
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Purchasing : |
Cash / Credit |
GENERAL INFORMATION
|
Customers: |
OEMs |
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No. of Employees : |
130 [Approximately] |
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Bankers : |
Bank of India, Mumbai Large Corporate Branch, Bank of India Building,
4th Floor, 70-80, Mahatma Gandhi Road, Fort, Mumbai - 400001,
Maharashtra, India |
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Facilities : |
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Financial
Institution: |
Il and FS Trust Company Limited, Il and FS Financial
Centreplot No C22 G Block Bandra, Kurla Complex Bandra East, Mumbai - 400051,
Maharashtra, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountant |
|
Address : |
"Heritage" 3rd Floor, Near Gujarat Vidyapith, Off Ashram
Road, Ahmedabad 380014, Gujarat, India |
|
|
|
|
|
Urjankur NIdhi Trust* [*Urjankur NIdhi Trust is not a company as defined in the Companies
Act 1956] |
|
|
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|
Fellow Subsidiary : |
Urjankur Shree Tatyasaheb Kore Warana Power Company Limited |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
75,000,000 |
Equity Shares |
Rs.10/-each |
Rs.750.000 millions |
|
|
|
|
|
Issued Subscribed & Paid-up Capital
|
No. of Shares |
Type |
Value |
Amount |
|
59,552,928 |
Equity Shares |
Rs.10/-each |
Rs.595.529 millions |
|
|
|
|
|
Of the above 39,702,868 equity shares [as at 31.03.2010 35,202,868
equity shares] are held by IL and FS Trust Company Limited as Trustee of
Urjankur Nidhi Trust.
AS ON 29.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
75,000,000 |
Equity Shares |
Rs.10/-each |
Rs.750.000 millions |
|
|
|
|
|
Issued Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
69,600,000 |
Equity Shares |
Rs.10/-each |
Rs.696.000 millions |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
67,562,928 |
Equity Shares |
Rs.10/-each |
Rs.675.629 millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
Particulars |
31.03.2011 |
31.03.2010 |
19.03.2008 to
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
595.529 |
352.029 |
0.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
26.401 |
|
|
3] Reserves & Surplus |
40.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
[13.969] |
[9.392] |
[6.672] |
|
|
NETWORTH |
621.560 |
342.637 |
20.229 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1364.597 |
740.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
1364.597 |
740.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1986.157 |
1082.637 |
20.229 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.079 |
0.018 |
0.000 |
|
|
Capital work-in-progress |
2007.187 |
813.348 |
3.954 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000 |
0.000 |
0.000 |
|
|
Sundry Debtors |
0.000 |
0.000 |
0.000 |
|
|
Cash & Bank Balances |
173.642
|
515.388
|
17.243 |
|
|
Other Current Assets |
19.399
|
1.349
|
0.008 |
|
|
Loans & Advances |
2.621
|
4.300
|
0.104 |
|
Total
Current Assets |
195.662
|
521.037
|
17.355 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
215.470
|
245.423
|
0.987 |
|
|
Other Current Liabilities |
2.167
|
6.343
|
0.093 |
|
|
Provisions |
0.134 |
0.000 |
0.000 |
|
Total
Current Liabilities |
217.771
|
251.766
|
1.080 |
|
|
Net Current Assets |
(22.109)
|
269.271
|
16.275 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1986.157 |
1082.637 |
20.229 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
19.03.2008 to
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Interest Income |
0.000 |
0.000 |
0.146 |
|
|
|
TOTAL INCOME (A) |
0.000 |
0.000 |
0.146 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Administrative and Operating Expenses |
4.190 |
2.718 |
6.819 |
|
|
|
TOTAL (B) |
4.190 |
2.718 |
6.819 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ LOSS BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
[4.190] |
[2.718] |
[6.673] |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ LOSS BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
[4.190] |
[2.718] |
[6.673] |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.387 |
0.001 |
0.000 |
|
|
|
|
|
|
|
|
|
|
LOSS BEFORE TAX
(E-F) (G) |
[4.577] |
[2.719] |
[6.673] |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
LOSS AFTER TAX
(G-I) (J) |
[4.577] |
[2.719] |
[6.673] |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS BALANCE BROUGHT FORWARD |
[9.392] |
[6.673] |
-- |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
[13.969] |
[9.392] |
[6.673] |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
[0.09] |
[0.16] |
[205.06] |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
19.03.2008 to
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
NA |
[4570.55] |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
[2.33]
|
[0.52] |
[38.45] |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
[0.01]
|
[0.01] |
[0.33] |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.55
|
2.89 |
0.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.90
|
2.07 |
16.07 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
REPORTS
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors
|
|
|
|
|
Due to Micro, Small And Medium Enterprises |
0.000
|
0.000
|
0.000 |
|
Other than Micro, Small And Medium Enterprises |
215.470
|
245.423
|
0.987 |
|
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 one years |
No |
|
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 |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if
applicable) |
-- |
|
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 |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
BACKGROUND:
The Company was
incorporated on March 19, 2008 and is working towards development,
implementation, operation and maintenance of a 36 MW Bagasse based Cogcneration
Project (the Project), at a site adjacent to the sugar plant of Shree Datta
Shetkari Sahakari Sakhar Karkhana Limited situated at Dattanagar, Tahrka
Shirol, District Kolhapur, Host Sugar Factory (HSF) in the state of Maharashtra
The Project
envisages using bagasse (supplied by the H.SF during crushing season) for
generation and export of power, with usage of coal during the noncrushing
season/ojT-season operation
The Company has
executed a Project Development Agreement (PDA) with the HSF in April 2008. As
per the PDA, the I JSP will supply the entire Bagasse generated by it during
the crushing operations to-the Project free of cost. The Company will in turn
supply power and steam to meet the requirements of the ISP. The Company is also
taking up certain modifications in the Sugar Plant of the HSF to optimise the
steam and power consumption there by conserving energy
Land Pease Deed
has been executed with the HSF for land admeasuring around 41 acres for setting
up the Cogen Plant.
STATUS
FPC
Contractor for Cogeneration works - 1SGLC John Thompson (LIT) has completed the erection and commissioning works for the
Boiler, Turbine and other Balance of Plant. Balance finishing works, compound
wall, fencing, landscaping, internal road etc. are in progress FPC Contractor
for HSF Modification works - VRL Automation Limited (VRL) has completed works
for steam economy and replacements of the 3 out of 5 mill drives. Balance mill
drives are being replaced M/s R.B Patil is the FPC Contractor for Raw Water Pumping System (RWPS) works. Laying of pipe line and construction of Jack well is
in progress. However, water supply to cogen plant has been ensured by
undertaking repair in the existing spare pipeline of HSF.
M/s
IKE Electrical is the FPC Contractor for Power Evacuation works (PES). IKE has substantially completed the Erection of towers,
construction of switchyards at both the ends, (Cogen end and EHV substation end). All approvals are obtained pertaining to
Grid connectivity.
Bankers Charges
Report as per Registry
|
Corporate identity
number of the company |
U40108MH2008PLC180290 |
|
Name of the
company |
Urjankur Shree
Datta Power Company Limited |
|
Address of the
registered office or of the principal place of business in |
The Il and Fs
Financial Center, Plot No. C-22, G Block, Bandra Kurla Complex, Bandra (E),
Mumbai 400051, |
|
This form is for |
Modification
of Charge |
|
Type of charge |
|
|
Particular of charge
holder |
IL AND FS TRUST COMPANY LIMITED |
|
Nature of
instrument creating charge |
Supplemental
Indenture of Mortgage dated June 22, 2011 executed between the Company, the
Borrower and IL&FS Trust Company, the Security Trustees on behalf on Bank
of India, the Lender |
|
Date of
instrument Creating the charge |
22.06.2011 |
|
Amount secured by
the charge |
Rs.70.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Terms of
Repayment Payable on demand Extent and
Operation of the charge Charge created
vide Supplemental Indenture of Mortgage operate as a Second charge on Fixed
Assets for securing working capital
facility of Rs.70.000 millions sanctioned by Bank of India in favour of IL
and FS Trust Company Limited, Security Trustees Charge created
vide Hypothecation cum Loan Agreement operate as a First Charge for securing
Stocks and Book Debts for securing a working capital facility of Rs.70.000
millions in favour of Bank of India |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
First Charge on
all Current Assets including in particular Stocks, Coal, Bagasse, Stores and
Spares, Bills Receivable and Book Debts Second Charge on
Fixed Assets including in particular Plant and Machinery and Furniture and
Fixtures both present and future situated at Datta Nagar, Shirol, Kolhapur
District |
|
Corporate
identity number of the company |
U40108MH2008PLC180290 |
|
Name of the
company |
Urjankur Shree
Datta Power Company Limited |
|
Address of the
registered office or of the principal place of business in |
The Il and Fs
Financial Center, Plot No. C-22, G Block, Bandra Kurla Complex, Bandra (E),
Mumbai 400051, |
|
This form is for |
Creation
of Charge |
|
Type of charge |
|
|
Particular of
charge holder |
Bank of India, Mumbai Large Corporate Branch, Bank of India Building,
4th Floor, 70-80, Mahatma Gandhi Road, Fort, Mumbai - 400001,
Maharashtra, India |
|
Nature of
instrument creating charge |
Hypothecation cum
Loan Agreement dated March 31, 2011 executed among Urjankur Shree Datta Power
Company Limited , the Borrower and Bank of India, the Lender |
|
Date of
instrument Creating the charge |
31.03.2011 |
|
Amount secured by
the charge |
Rsd.70.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Terms of Repayment
- Payable on demand Extent and
Operation of the charge - Charge created vide Hypothecation cum Loan
Agreement operate as a First charge for securing Stocks and Book Debts for
securing a working capital facility of Rs 70.000 millions. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
First Charge on
all Current Assets including in particular Stocks, Coal, Bagasse, Stores and
Spares, Bills Receivable and Book Debts Second Charge on
Fixed Assets including in particular Plant and Machinery and Furniture and
Fixtures both present and future situated at Datta Nagar, Shirol, Kolhapur
District |
FIXED ASSETS :
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 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 Intl
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 companys 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.55.76 |
|
|
1 |
Rs.86.69 |
|
Euro |
1 |
Rs.70.44 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
SDA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
26 |
This score serves as a reference to assess SCs 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.