|
Report Date : |
21.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
FAVORICH AGRO PRIVATE LIMITED (w.e.f.04.07.2003) |
|
|
|
|
Formerly Known
As : |
AKKAMAHADEVI AGRO FOODS PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
45/3, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
24.03.1995 |
|
|
|
|
Com. Reg. No.: |
08-017441 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 5.451 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15111KA1995PTC017441 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Reseller of Corn and Rice Products |
|
|
|
|
No. of Employees
: |
25 (Approximately) |
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 48000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. There
appears loss in the current year. However, trade relations are reported to be
fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some
cautions. |
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) |
|
India |
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 : |
45/3, J D Royallite Tumkur Road, Yeshwantpur, Bangalore-560022,
Karnataka, India |
|
Tel. No.: |
91-80-23577111 |
|
Fax No.: |
91-80-23577555 |
|
E-Mail : |
|
|
Area : |
2000 Sq. ft. |
|
|
|
|
Manufacturing Units : |
Located At ·
Bangalore ·
Raipur ·
Nagpur ·
Hyderabad ·
Bangladesh ·
Delhi ·
Kolkata |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Jayadev Dhoolapalli Munivenkatappa |
|
Designation : |
Managing Director |
|
Address : |
39th Main RMV Extension, Bangalore-560088, Karnataka, India
|
|
Date of Birth/Age : |
01.04.1966 |
|
Date of Appointment : |
24.03.1995 |
|
DIN No.: |
02038258 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U15111KA1995PTC017441 |
FAVORICH
AGRO PRIVATE LIMITED |
Director |
24-03-95 |
24-03-95 |
- |
Active |
NO |
|
2 |
U01543KA2003PTC032267 |
FAVORICH
MARK PRIVATE LIMITED |
Director |
16-07-03 |
16-07-03 |
- |
Active |
NO |
|
3 |
U80211KA2008PTC045325 |
AMORA
EDUCATION PRIVATE LIMITED |
Director |
19-02-08 |
19-02-08 |
- |
Active |
NO |
|
4 |
U31909KA1999PLC025039 |
POWERTRONIX
SYSTEMS LIMITED |
Director |
03-10-08 |
03-10-08 |
06-12-10 |
Active |
NO |
|
5 |
U50401KA2009PTC050722 |
FAVORICH
AUTO PRIVATE LIMITED |
Director |
24-08-09 |
24-08-09 |
- |
Active |
NO |
|
6 |
U45400KA2009PTC050716 |
FAVORICH
INFRA PRIVATE LIMITED |
Director |
24-08-09 |
24-08-09 |
- |
Active |
NO |
|
7 |
U40200KA2010PTC052690 |
FAVORICH
BIO PRIVATE LIMITED |
Director |
25-02-10 |
25-02-10 |
- |
Active |
NO |
|
8 |
U15400KA2010PTC052688 |
FAVORICH
NUTRI PRIVATE LIMITED |
Director |
25-02-10 |
25-02-10 |
- |
Active |
NO |
|
9 |
U15422KA2010PTC053765 |
ENRICH
SUGARS PRIVATE LIMITED |
Director |
25-05-10 |
25-05-10 |
- |
Active |
NO |
|
10 |
U85110KA1995PLC017493 |
PREM
SUGARS AND CHEMICALS CORPORATION LIMITED |
Additional
director |
18-11-10 |
18-11-10 |
- |
Active |
NO |
|
11 |
U15421KA2011PLC057074 |
FAVORICH
SUGARS LIMITED |
Director |
12-02-11 |
12-02-11 |
- |
Active |
NO |
|
Name : |
Ms. Lavanya Jayadev |
|
Designation : |
Director |
|
Address : |
39th Main RMV Extension, Bangalore-560088, Karnataka, India |
|
Date of Birth/Age : |
23.09.1969 |
|
Date of Appointment : |
24.03.1995 |
|
DIN No.: |
02038272 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U15111KA1995PTC017441 |
FAVORICH
AGRO PRIVATE LIMITED |
Director |
24-03-95 |
24-03-95 |
Active |
NO |
|
2 |
U01543KA2003PTC032267 |
FAVORICH
MARK PRIVATE LIMITED |
Director |
16-07-03 |
16-07-03 |
Active |
NO |
|
3 |
U80211KA2008PTC045325 |
AMORA
EDUCATION PRIVATE LIMITED |
Director |
19-02-08 |
19-02-08 |
Active |
NO |
|
4 |
U15421KA2011PLC057074 |
FAVORICH
SUGARS LIMITED |
Director |
12-02-11 |
12-02-11 |
Active |
NO |
|
5 |
U50401KA2009PTC050722 |
FAVORICH
AUTO PRIVATE LIMITED |
Additional
director |
07-06-12 |
07-06-12 |
Active |
NO |
|
6 |
U45400KA2009PTC050716 |
FAVORICH
INFRA PRIVATE LIMITED |
Additional
director |
07-06-12 |
07-06-12 |
Active |
NO |
|
Name : |
Mr. Munivenkatta Jayadev Vishal |
|
Designation : |
Additional Director |
|
Address : |
39th Main RMV Extension, Bangalore-560088, Karnataka, India |
|
Date of Birth/Age : |
13.02.1991 |
|
Date of Appointment : |
27.04.2009 |
|
DIN No.: |
02662564 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U01543KA2003PTC032267 |
FAVORICH
MARK PRIVATE LIMITED |
Additional
director |
27-04-09 |
27-04-09 |
Active |
NO |
|
2 |
U15111KA1995PTC017441 |
FAVORICH
AGRO PRIVATE LIMITED |
Additional
director |
27-04-09 |
27-04-09 |
Active |
NO |
|
3 |
U80211KA2008PTC045325 |
AMORA
EDUCATION PRIVATE LIMITED |
Additional
director |
27-04-09 |
27-04-09 |
Active |
NO |
|
4 |
U15400KA2010PTC052688 |
FAVORICH
NUTRI PRIVATE LIMITED |
Director |
25-02-10 |
25-02-10 |
Active |
NO |
|
5 |
U40200KA2010PTC052690 |
FAVORICH
BIO PRIVATE LIMITED |
Director |
25-02-10 |
25-02-10 |
Active |
NO |
|
6 |
U15422KA2010PTC053765 |
ENRICH
SUGARS PRIVATE LIMITED |
Director |
25-05-10 |
25-05-10 |
Active |
NO |
|
7 |
U85110KA1995PLC017493 |
PREM
SUGARS AND CHEMICALS CORPORATION LIMITED |
Additional
director |
18-11-10 |
18-11-10 |
Active |
NO |
|
8 |
U15421KA2011PLC057074 |
FAVORICH
SUGARS LIMITED |
Director |
12-02-11 |
12-02-11 |
Active |
NO |
|
9 |
U45400KA2009PTC050716 |
FAVORICH
INFRA PRIVATE LIMITED |
Additional
director |
21-07-11 |
21-07-11 |
Active |
NO |
|
10 |
U50401KA2009PTC050722 |
FAVORICH
AUTO PRIVATE LIMITED |
Additional
director |
21-07-11 |
21-07-11 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Jayadev Dhoolapalli Munivenkatappa |
50514 |
|
Lavanya Jayadev |
4000 |
|
TOTAL |
54514 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Reseller of Corn and Rice Products |
||||||||||||||
|
|
|
||||||||||||||
|
Products : |
|
||||||||||||||
|
|
|
||||||||||||||
|
Terms : |
|
||||||||||||||
|
Export Selling : |
As per Order |
||||||||||||||
|
|
|
||||||||||||||
|
Import Purchasing : |
As per vendor based |
GENERAL INFORMATION
|
Suppliers : |
·
Digital Electroworld Private Limited ·
Ganesh Trading ·
First Flight Courier ·
Friends Freight Broker Agency ·
Griha Vibhavs Marketing (Private) Limited ·
Info Edge (India) Limited ·
Karnataka Tramsport Company ·
Surat Gods Transport Private Limited ·
Udwat Engineering’s ·
Star Infotech ·
RMC Marketing Private Limited ·
Pt Asia
Cocoa, Indonesia |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Customers : |
·
Dhawale Agency ·
AAI Electricity ·
SR Trading ·
Sunil Prov Stores ·
Yog Agency ·
Pallavi Food Products ·
Vitarich Agro Food (India) Limited ·
Rajath Food Corporation ·
Metro Cash and Carry India (Private) Limited ·
KSE Limited ·
Big Boss Foods ·
Parle Biscuits Private Limited ·
Zoya Industries Private Limited |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
25 (Approximately) |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
Corporation Bank, No.45/C, Near APMC Gate Tumkur
Road, Yeshwanthpur, Banglore-560022, Karnataka, India |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
V. C. Kamath and Associates Chartered Accountant |
|
Address : |
No.186/38, 1st Floor, Maruthi Building, R V Road,
Bangalore-560004, Karnataka, India |
|
Pan No.: |
AAYPK8396B |
|
|
|
|
Associates : |
·
Amora Education Private Limited ·
Favorich Nutri Private Limited ·
Nakshatra Power Private Limited ·
Andromeda Power and Minerals Private Limited ·
Favorich Mark Private Limited ·
Favorich Auto Private Limited ·
Favorich Sugars Private Limited ·
Prem Sugars and Chemicals Corporation Limited |
|
|
|
|
Others : |
·
Facorich International School ·
Akkamakadevi Flour Mills ·
Akkamakadevi Agro Industries ·
Devatha Enterprises ·
Devatha Agencies |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
105000 |
Equity Shares |
Rs.100/- each |
Rs. 10.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
54514 |
Equity Shares |
Rs.100/-
each |
Rs. 5.451
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 |
5.451 |
5.451 |
5.451 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
6.682 |
13.389 |
11.963 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
12.133 |
18.840 |
17.414 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
48.317 |
65.230 |
32.187 |
|
|
2] Unsecured Loans |
39.501 |
15.733 |
17.945 |
|
|
TOTAL BORROWING |
87.818 |
80.963 |
50.132 |
|
|
DEFERRED TAX LIABILITIES |
1.916 |
1.924 |
1.318 |
|
|
|
|
|
|
|
|
TOTAL |
101.867 |
101.727 |
68.864 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
54.956 |
43.729 |
14.144 |
|
|
Capital work-in-progress |
0.000 |
15.031 |
28.735 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.003 |
0.003 |
0.003 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
13.726
|
11.222 |
13.815 |
|
|
Sundry Debtors |
30.284
|
52.708 |
14.032 |
|
|
Cash & Bank Balances |
1.557
|
3.654 |
3.239 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
28.960
|
19.777 |
15.333 |
|
Total
Current Assets |
74.527
|
87.361 |
46.419 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
27.519
|
46.145 |
19.538 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
0.100
|
0.100 |
0.899 |
|
Total
Current Liabilities |
27.619
|
46.245 |
20.437 |
|
|
Net Current Assets |
46.908
|
41.116 |
25.982 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
1.848 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
101.867 |
101.727 |
68.864 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
TURNOVER |
312.800 |
252.374 |
104.283 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE DEPRECIATION |
1.308 |
6.978 |
3.818 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
(6.716) |
2.404 |
1.589 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) AFTER TAX |
(6.707) |
2.033 |
0.873 |
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
8.096 |
10.511 |
NA |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(123.03) |
-- |
-- |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Net Profit Margin (PBT/Sales) |
(%) |
(2.15)
|
0.95 |
1.52 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(5.19)
|
1.83 |
2.62 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.55)
|
0.13 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
9.67
|
6.85 |
4.13 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.70
|
1.89 |
2.27 |
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. Constructions 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 |
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 |
Yes |
|
17. Major suppliers |
Yes |
|
18. Major customers |
Yes |
|
19. Payments terms |
Yes |
|
20. Export / Import details |
Yes |
|
21. Market information |
------ |
|
22. Litigations that the firm / promoter involved |
------ |
|
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 |
FORM 8
|
Corporate identity
number of the company |
U15111KA1995PTC017441 |
|
Name of the
company |
FAVORICH AGRO
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
45/3, J D Royallite Tumkur Road, Yeshwantpur, Bangalore-560022, Karnataka, India |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
10180729 |
|
Type of charge |
·
Book
debts ·
Movable
property (not being pledge) ·
Floating
charge |
|
Particular of
charge holder |
Corporation Bank, No.45/C, Near APMC Gate Tumkur Road, Yeshwanthpur, Banglore-560022, Karnataka, India |
|
Nature of
instrument creating charge |
Letter of
Revision of credit limits |
|
Date of
instrument Creating the charge |
22.05.2012 |
|
Amount secured by
the charge |
Rs. 101.700
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest As may be
prescribed by the bank from time to time Terms of repayment As per sanction
terms Margin As per sanction
terms stipulated for various limits Extent and operation of the charge The charge shall
operate to the extent of entire loan amount plus interest, commission, cost,
expenses and other charges if any. Other The Charge amount
of Rs.101.700 Millions comprises of CC Limit of Rs.30.000 Millions;
PCL/FDBN/FDBP/FDBD Limit of Rs.20.000 Millions; Forward Purchase Contract
Rs.20.000 Millions; TLS Rs.15.000 Millions; BG Rs.10.000 Millions and Corp
Vehicle Loan Rs.6.700 Millions continued at existing level. Existing TLS
Rs.1.775 Millions and TLS Rs.24.000 Millions stand since closed |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation by
way of first charge on stocks, book debts, plant, machineries, furniture,
fixtures and all other movables present and future stored/installed at
company premises at No.45/3, J D Royallite, Tumkur Road, Banglaore 560022 or
at any other place |
|
Date of
instrument modifying the charge |
11.07.2011 |
|
Particulars of
the present modification |
By the above the charge amount stands revised 127.475
millions to Rs.101.700 millions (All other terms conditions remains unchanged) |
FIXED ASSETS
·
Factory Building
·
Office Building
·
Computers
·
Furniture and Fixtures
·
Plant and Machinery
·
Vehicles
WEBSITE DETAILS
PROFILE
Inspired by Nature, Favorich Group, dedicated to Agri
Business and its allied Industries, is engaged in
manufacturing, marketing, domestic trading, Import and Export of Agro
based products.
With a modest beginning Favorich Group has now grown as a
large agri diversified group. Starting off with a solitary agro processing mill
in Bangalore the Group has now geographically spread into multi locations,
multi products and multi dimensional company with large interest in all agri
related and Bio fuels.
Subject pursues its 21st century vision of
becoming a global player and leader in agro food processing industry making its
customers in India and worldwide delighted through its quality products and
excellent services.
Going forward, Subject will synergize all activities in keeping with the global
vision of becoming one of top 10 agri and food processing players. In Favorich
Family, everyone understands that only flexible companies that adapt to changes
and innovations will enjoy continued growth.
Subject is transforming its dreams and aspirations into
reality. They have courage and conviction. They create asset in the form
of Leaders at all levels in the organization particularly at the Top Management
who will energize the organization with strategic business ideas and create a
corporate identity.
Understanding the WHO’s norms in the Food Industry and
the importance of providing safe and Hygienic Food for Humanity, they are attempting
to deliver successfully the best quality to the Food Processing Industry.
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 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. 55.85 |
|
|
1 |
Rs. 87.93 |
|
Euro |
1 |
Rs. 70.88 |
INFORMATION DETAILS
|
Information Gathered
by : |
-- |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--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.