1. Summary Information
|
|
|
Country |
|
|
Company Name |
SILVER SPRING
SPINNERS INDIA PRIVATE LIMITED |
Principal Name 1 |
Mr. Chockalingam Rajesh Sivamurugan |
|
Status |
Moderate |
Principal Name 2 |
Mr. Chockalingam Jagadish Kumar |
|
|
|
Registration # |
18-027004 |
|
Street Address |
136
and 137, Mulikulam Village, Srivilliputhur, Virudhunagar – 626141, Tamilnadu,
India |
||
|
Established Date |
10.03.1994 |
SIC Code |
-- |
|
Telephone# |
91-4563-281540 / 281720 / 281721 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-4563-281543 |
Business Style 2 |
Exporter |
|
Homepage |
Not Available |
Product Name 1 |
Cotton Yarn. |
|
# of employees |
Not Available |
Product Name 2 |
-- |
|
Paid up capital |
Rs.65,750,000/- |
Product Name 3 |
-- |
|
Shareholders |
Bodies corporate - 60.00 % Directors or relatives of Directors - 40.00 % |
Banking |
State
Bank of India |
|
Public Limited Corp. |
No |
Business Period |
18 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
B (27) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
40,898,000 |
Current Liabilities |
18,897,000 |
|
Inventories |
45,234,000 |
Long-term Liabilities |
79,800,000 |
|
Fixed Assets |
119,624,000 |
Other Liabilities |
5,342,000 |
|
Deferred Assets |
0.000 |
Total Liabilities |
104,039,000 |
|
Invest& other Assets |
4,786,000 |
Retained Earnings |
40,753,000 |
|
|
|
Net Worth |
106,503,000 |
|
Total Assets |
210,542,000 |
Total Liab. & Equity |
210,542,000 |
|
Total Assets (Previous Year) |
162,335,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Gross Receipts |
180,200,000 |
Net Profit |
5,500,000 |
|
Gross Receipts (Previous yr) |
167,000,000 |
Net Profit(Prev.yr) |
(28,700,000) |
|
Report Date : |
18.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
SILVER SPRING SPINNERS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
136 and 137, Mulikulam Village, Srivilliputhur, Virudhunagar – 626141, Tamilnadu |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation
: |
10.03.1994 |
|
|
|
|
Com. Reg. No.: |
18-027004 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.65.750 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17293TN1994PTC027004 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MRIS01692F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Cotton Yarn. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 420000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. The company
has been successful in wiping off its accumulated losses recorded. 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 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.
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 / Factory : |
136 and 137, Mulikulam Village, Srivilliputhur,
Virudhunagar – 626141, Tamilnadu, India |
|
Tel. No.: |
91-4563-281540 / 281720 / 281721 |
|
Fax No.: |
91-4563-281543 |
|
E-Mail : |
DIRECTORS
As on 22.09.2011
|
Name : |
Mr. Chockalingam Rajesh Sivamurugan |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
55-A, Velayutham Road, Sivakasi - 626123. Tamilnadu, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
04.08.1964 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
03.07.1995 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
01145047 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Chockalingam Jagadish Kumar |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
234-G, Gnanagiri Road, Sivakasi - 626123, Tamilnadu, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
09.05.1975 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
03.07.1995 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00022002 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Vivekanandhan Ganesh Kumar |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
234-H, Gnanagiri Road, Sivakasi - 626123, Tamilnadu, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
24.03.1974 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
27.06.2003 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
01145396 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Rajendran Sridhar |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
259-A, Gnanagiri Road, Sivakasi - 626123, Tamilnadu, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
27.04.1976 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
03.10.2002 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00022095 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Ramasamy Rajendran |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
259-A, Gnanagiri Road, Sivakasi - 626123, Tamilnadu, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
12.04.1948 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.04.2007 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
01472403 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 22.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
R. Chockalingam |
|
9000 |
|
R. Chockalingam (B. HUF) |
|
8500 |
|
R. Chockalingam (S. HUF) |
|
500 |
|
R. Velayutham |
|
9000 |
|
R. Velayutham (HUF) |
|
8500 |
|
R. Rajendran |
|
62500 |
|
R. Rajendran (B. HUF) |
|
8500 |
|
R. Rajendran (S. HUF) |
|
500 |
|
C Thartgeeswarai |
|
9000 |
|
V. Surya Prabha |
|
9000 |
|
R. Vasugidevi |
|
9000 |
|
C. Rajesh Sivamurugan |
|
17500 |
|
C. Jagadish Kumar |
|
9000 |
|
R. Sridhar |
|
71000 |
|
R. Meenakshi |
|
8500 |
|
R.M. Balayokini |
|
3000 |
|
C. Shenbagamoorthy |
|
3500 |
|
S. Revathy |
|
3000 |
|
C. Grahadurai |
|
3000 |
|
P.S.C Ramasamy Nadar |
|
8500 |
|
Image House Exports Private Limited, India |
|
72500 |
|
Srinivas Fine Arts Private Limited, India |
|
324000 |
|
Total |
|
657500 |
As on 22.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
60.00 |
|
Directors or relatives of Directors |
40.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Cotton Yarn. |
PRODUCTION STATUS (As on 31.03.2010)
|
Particulars |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Spindles |
24000 |
15808 |
15808 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
State Bank of India, 11,Velayutham Road, Sivakasi -
626123, Tamilnadu, India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
K.K.B and Associates Chartered Accountants |
|
Address : |
No.6,(New No:13),Visalakshipuram, Main Road, Reserve Line Post, Madurai – 625014, Tamilnadu, India |
|
Tel. No.: |
91-452-2347153 / 2529153 |
|
PAN.: |
ACZPS9338N |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
657500 |
Equity Shares |
Rs.100/- each |
Rs.65.750 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
657500 |
Equity Shares |
Rs.100/-
each |
Rs.65.750 Millions
|
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
65.750 |
65.750 |
65.750 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
40.753 |
40.500 |
40.500 |
|
|
4] (Accumulated Losses) |
0.000 |
(46.503) |
(17.786) |
|
|
NETWORTH |
106.503 |
59.747 |
88.464 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
43.127 |
54.678 |
58.120 |
|
|
2] Unsecured Loans |
36.673 |
27.733 |
27.434 |
|
|
TOTAL BORROWING |
79.800 |
82.411 |
85.554 |
|
|
DEFERRED TAX LIABILITIES |
4.842 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
191.145 |
142.158 |
174.018 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
119.624 |
82.827 |
108.586 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
4.786 |
4.786 |
7.005 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
45.234
|
32.352 |
25.351 |
|
|
Sundry Debtors |
24.271
|
22.181 |
32.805 |
|
|
Cash & Bank Balances |
1.790
|
4.569 |
2.443 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
14.837
|
15.620 |
14.919 |
|
Total
Current Assets |
86.132
|
74.722 |
75.518 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
16.455
|
17.815 |
14.080 |
|
|
Other Current Liabilities |
2.442
|
2.362 |
3.011 |
|
|
Provisions |
0.500
|
0.000 |
0.000 |
|
Total
Current Liabilities |
19.397
|
20.177 |
17.091 |
|
|
Net Current Assets |
66.735
|
54.545 |
58.427 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
191.145 |
142.158 |
174.018 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Gross Receipts |
180.200 |
167.000 |
253.500 |
|
|
|
Other Income |
0.000 |
8.300 |
5.900 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Raw Materials Consumed / Manufacturing Expenses |
152.900 |
158.800 |
227.600 |
|
|
|
Administration and Selling Expenses |
10.200 |
13.000 |
17.600 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
23.200 |
3.600 |
16.600 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
7.100 |
7.600 |
9.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
16.100 |
(4.000) |
7.400 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
10.600 |
24.700 |
24.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
5.500 |
(28.700) |
(17.100) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
5.500 |
(28.700) |
(17.100) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
1.937 |
0.516 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
0.092 |
13.028 |
NA |
|
|
|
Capital Goods |
0.000 |
0.000 |
NA |
|
|
TOTAL IMPORTS |
0.092 |
13.028 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
8.37 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.67
|
(18.22) |
(9.29) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
(0.48) |
(0.19) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.93
|
1.72 |
1.16 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.44
|
3.70 |
4.42 |
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 |
No |
|
30) Major Shareholders, if available |
Yes |
Note:
The registered office of the company has been shifted from
118/2 Velayutham Road, Sivakasi – 626123, Tamilnadu, India to present address
w.e.f. 16.01.2012
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U17293TN1994PTC027004 |
|
Name of the
company |
SILVER SPRING
SPINNERS INDIA PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
136 and 137, Mulikulam Village, Srivilliputhur, Virudhunagar – 626141, Tamilnadu, India |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
90293696 |
|
Type of charge |
· Immovable property · Book debts · Movable property (not being pledge) |
|
Particular of
charge holder |
State Bank Of India, 11,Velayutham Road, Sivakasi - 626123, Tamilnadu, India |
|
Nature of
instrument creating charge |
Agreement of
Loan-Cum-Hypothecation |
|
Date of
instrument Creating the charge |
24.03.2011 |
|
Amount secured by
the charge |
Rs.87.700
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Working Capital:
Interest at the rate of 15% p.a. Term loan: 15.50%
p.a. Terms of Repayment Working Capital
Repayable on demand. Term loan as per schedule Margin 1.Raw material
imported / indigenous - 25% 2.Finished, Semi
Finished Goods - 25% 3.Components /
Consumables / Spares - 25% 4.Domestic
receivables - 40% 5.Export Packing
Credit - 25% 6.Letters of
Credit, Bank Guarantees - 15% Extent and Operation of the charge Exclusive Charge
to the Charge holder Others Personal
Guarantee of C. Rajesh Sivamurugan, C. Jagadishkumar, R. Sridhar, R.
Rajendran |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Stocks and
receivables Factory Land and Building bearing no 108-B to 108-Fand 2/191 to
204 at 44, Mallikulam Village, Srivilliputhur SR, Virudhunagar Date (18
Survey Nos).Total area of the land - 26.26 acre. Building 1046 sq mt Factory Land and
Building bearing dood nos 108/A, 2/189, 2/190, and 203 at 44, mullikulam
village, Srivilliputhur SR, Virudhunagar Date. (In 22 Survey Nos). Total
area-15.69acre.(Survey Nos.137/A,137/1B Plant and machineries |
|
Particulars of
the present modification |
Enhanced from
Rs.51.700 Millions to Rs.87.700 Millions |
Fixed Assets
·
Land – Factory
·
Land – Windmill
·
Building
·
Furniture and Fittings
·
Office Equipment
·
Electrical Installations
·
Vehicles
·
Plant and Machinery
·
Tools and Accessories
·
Canteen Equipment
·
Lab Equipments
·
Comber Machinery
·
Cycle
·
Synthetic Plant
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.55.76 |
|
|
1 |
Rs.86.69 |
|
Euro |
1 |
Rs.70.44 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
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.