|
Report Date : |
26.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
SANWA DIAMOND TOOLS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No. 7, Narang Chambers, 3rd Floor, Opposite Town Hall, N.
R. Road, Bangalore-560002, Karnataka |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
31.12.1993 |
|
|
|
|
Com. Reg. No.: |
08-015088 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 5.138 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U85110KA1993PTC015088 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRS04199G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Diamond Cutting Tools, Stone Cutting Tools and Diamond
Tools. |
|
|
|
|
No. of Employees
: |
130 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 900000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an old established company having satisfactory track. Even
though, the company has recorded a slight dip in the turnover, there appears a
huge increase in the profitability during the year 2011. 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 |
INFORMATION PARTED BY
|
Name : |
Mr. Balaji |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-080-22234891 |
|
Date : |
22.06.2012 |
LOCATIONS
|
Registered Office : |
No. 7, Narang Chambers, 3rd Floor, Opposite Town Hall, N.
R. Road, Bangalore - 560002, Karnataka, India |
|
Tel. No.: |
91-80-23320288/22234891/2234749 |
|
Fax No.: |
91-80-22278269 |
|
E-Mail : |
|
|
Website : |
|
|
Area: |
500 sq. ft. |
|
Location : |
Rented |
|
|
|
|
Corporate Office : |
My |
|
Tel. No.: |
91-80-22234891 / 41531160 |
|
Fax No.: |
91-80-22278269 |
|
E-Mail : |
|
|
Website : |
|
|
Area: |
3500 sq. ft. |
|
Location : |
Rented |
|
|
|
|
Factory: |
No. 30 to 34 and 39, KIADB Industrial Area, Sqmahali Maddur Taluka,
Mandya District, Karnataka, India |
|
Location : |
Owned |
DIRECTORS
As on 31.03.2011
|
Name : |
Mr. Anjan Ramchandran Salgame |
|
Designation : |
Director |
|
Address : |
No. 1303, Sai Nivas, 32 F Cross, Jayanagar, |
|
Date of Birth/Age : |
22.02.1958 |
|
Date of Appointment : |
31.12.1993 |
|
DIN No.: |
01957098 |
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 |
U85110KA1993PTC015088 |
SANWA DIAMOND
TOOLS PRIVATE LIMITED |
Managing
director |
31-12-93 |
31-12-93 |
Active |
NO |
|
2 |
U29246KA1997PTC022622 |
ANSAL GRANICOM
PRIVATE LIMITED |
Managing
director |
07-08-97 |
07-08-97 |
Active |
NO |
|
3 |
U28939KA2005PTC036692 |
SAW TECH PRIVATE
LIMITED |
Managing
director |
01-07-05 |
01-07-05 |
Active |
NO |
|
4 |
U29253KA2011PTC058685 |
SANWA TEC
PRIVATE LIMITED |
Managing
director |
17-05-11 |
17-05-11 |
Active |
NO |
|
Name : |
Mr. Perumalapalli Raju |
|
Designation : |
Managing Director |
|
Address : |
No. 108, Dheeraj Manor, 24 Kensington road, Ulsoor, |
|
Date of Birth/Age : |
04.12.1967 |
|
Date of Appointment : |
31.12.1993 |
|
DIN No.: |
00770053 |
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 |
U85110KA1993PTC015088 |
SANWA DIAMOND
TOOLS PRIVATE LIMITED |
Director |
31-12-93 |
31-12-93 |
Active |
NO |
|
2 |
U29246KA1997PTC022622 |
ANSAL GRANICOM
PRIVATE LIMITED |
Director |
07-08-97 |
07-08-97 |
Active |
NO |
|
3 |
U28939KA2005PTC036692 |
SAW TECH PRIVATE
LIMITED |
Director |
01-07-05 |
01-07-05 |
Active |
NO |
|
4 |
U29253KA2011PTC058685 |
SANWA TEC
PRIVATE LIMITED |
Director |
17-05-11 |
17-05-11 |
Active |
NO |
|
Name : |
Ms. Geetha Salgame |
|
Designation : |
Director |
|
Address : |
No. 1303, Sai Nivas, 32 F Cross, Jayanagar, |
|
Date of Birth/Age : |
24.01.1964 |
|
Date of Appointment : |
29.11.1996 |
KEY EXECUTIVES
|
Name : |
Mr. Balaji |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2011)
|
Names of Shareholders |
|
No. of Shares |
|
A R Salgame |
|
16919 |
|
P Raju |
|
6359 |
|
Geetha Salgame |
|
3282 |
|
Saroja Ramchandran |
|
1723 |
|
Ansal Granicom Private Limited, |
|
22477 |
|
|
|
621 |
|
TOTAL |
|
51381 |
(AS ON 30.09.2011)
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
|
|
|
|
Bodies corporate |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Diamond Cutting Tools, Stone Cutting Tools and Diamond
Tools. |
|
|
|
|
Exports : |
|
|
Products : |
Diamond Cutting Tools |
|
Countries : |
Gulf Country |
|
|
|
|
Imports : |
|
|
Products : |
Industrial Diamond Powder |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash and Credit |
|
|
|
|
Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Customers : |
Wholesaler and Retailers
|
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
130 (Approximately) |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
Over draft Rs. 16.000 Millions Term Loan Rs. 6.500 Millions
|
||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mohan Venkatesh Rajagopal and Company Chartered Accountants |
|
Address : |
2954, B and C, Ramdas Complex, Mahakavi Kuvempu Road, 2nd
Stage, Rajaji Nagar, Bangalore-560010, Karnataka, India |
|
Tel. No.: |
91-80-23320288/23325168 |
|
PAN NO.: |
AADFV7670E |
CAPITAL STRUCTURE
(AS ON 31.03.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
95000 |
Equity Shares |
Rs. 100/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
28904 |
Equity Shares |
Rs. 100/- each |
Rs.2.890
millions |
|
|
Add: Share Application Money pending allotment |
|
Rs.2.248
millions |
|
|
Total
|
|
Rs.5.138 millions |
After 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs. 100/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
51381 |
Equity Shares |
Rs. 100/- each |
Rs. 5.138
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 |
5.138 |
5.138 |
5.138 |
|
|
2] Share Application Money |
2.972 |
7.132 |
7.132 |
|
|
3] Reserves & Surplus |
238.174 |
215.199 |
165.313 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
246.284 |
227.469 |
177.583 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
17.892 |
16.351 |
10.218 |
|
|
2] Unsecured Loans |
0.554 |
0.554 |
0.554 |
|
|
TOTAL BORROWING |
18.446 |
16.905 |
10.772 |
|
|
DEFERRED TAX LIABILITIES |
19.428 |
18.092 |
15.453 |
|
|
|
|
|
|
|
|
TOTAL |
284.158 |
262.466 |
203.808 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
154.744 |
153.444 |
124.852 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
75.525 |
71.968 |
55.375 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
21.097
|
20.486
|
16.300 |
|
|
Sundry Debtors |
54.808
|
55.257
|
18.092 |
|
|
Cash & Bank Balances |
16.728
|
9.062
|
23.593 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
14.468
|
6.737
|
7.513 |
|
Total
Current Assets |
107.101
|
91.542
|
65.498 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
31.317
|
34.901
|
18.484 |
|
|
Other Current Liabilities |
21.895
|
19.587
|
23.433 |
|
|
Provisions |
0.000
|
0.000
|
0.000 |
|
Total
Current Liabilities |
53.212
|
54.488
|
41.917 |
|
|
Net Current Assets |
53.889
|
37.054
|
23.581 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
284.158 |
262.466 |
203.808 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
207.001 |
233.483 |
166.867 |
|
|
|
Other Income |
2.189 |
14.614 |
2.313 |
|
|
|
Income from Investment |
12.360 |
9.550 |
5.488 |
|
|
|
TOTAL (A) |
221.550 |
257.647 |
174.668 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials |
113.434 |
123.820 |
81.931 |
|
|
|
Operating Expenses |
28.512 |
26.383 |
17.145 |
|
|
|
Increase/(Decrease) in Finished Goods |
(3.008) |
(6.428) |
(0.926) |
|
|
|
Selling and Distribution Expenses |
6.982 |
4.554 |
2.843 |
|
|
|
Investment Expenses |
0.736 |
1.682 |
24.829 |
|
|
|
Administrative Expenses |
33.878 |
32.483 |
22.051 |
|
|
|
R and D Expenses |
0.022 |
0.070 |
0.000 |
|
|
|
TOTAL (B) |
180.556 |
182.564 |
147.873 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
40.994 |
75.083 |
26.795 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2.899 |
1.932 |
2.708 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
38.095 |
73.151 |
24.087 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
9.521 |
8.437 |
7.166 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
28.574 |
64.714 |
16.921 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
4.263 |
12.190 |
10.377 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
24.311 |
52.524 |
6.544 |
|
|
|
|
|
|
|
|
|
Less |
PROVISION FOR
DEFERRED TAX LIABILITY |
1.336 |
2.639 |
2.001 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
22.975 |
49.885 |
4.543 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
2.005 |
1.689 |
6.369 |
|
|
TOTAL EARNINGS |
2.005 |
1.689 |
6.369 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
60.441 |
66.961 |
57.363 |
|
|
|
Finished Goods |
9.962 |
10.726 |
5.665 |
|
|
TOTAL IMPORTS |
70.403 |
77.687 |
63.028 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
473.15 |
-- |
-- |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
230.000 (Due to
more orders) |
|
|
|
|
|
Expected Sales (2012-2013) : Rs. 240.000 Millions
The above information has been parted by Mr. Balaji.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
10.97
|
20.39
|
3.75 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
13.80
|
27.72
|
10.14 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.91
|
26.41
|
8.89 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12
|
0.28
|
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.37
|
0.39
|
0.38 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.01
|
1.68
|
1.56 |
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 |
Yes |
|
Type of Business |
Yes |
|
Line of Business |
Yes |
|
Promoter’s Background |
Yes |
|
No. of Employees |
Yes |
|
Name of Person Contacted |
Yes |
|
Designation of Contact person |
Yes |
|
Turnover of Firm for last three years |
Yes |
|
Profitability for last three years |
Yes |
|
Reasons for variation <> 20% |
Yes |
|
Estimation for coming financial year |
Yes |
|
Capital in the business |
Yes |
|
Details of sister concerns |
No |
|
Major Suppliers |
Yes |
|
Major Customers |
Yes |
|
Payments Terms |
Yes |
|
Export/ Imports Details (If applicable) |
Yes |
|
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 |
FORM 8
|
Corporate
identity number of the company |
U85110KA1993PTC015088 |
|
Name of the
company |
SANWA
DIAMOND TOOLS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
No. 7, Narang Chambers, 3rd Floor, Opposite Town Hall, N. R.
Road, Bangalore-560002, Karnataka, India |
|
This form is for |
Modification of charge |
|
Charge
identification number of the modified |
10009458 |
|
Type of charge |
Immovable property Book debts Movable property (not being pledge) |
|
Particular of
charge holder |
State Bank of India, Bangalore City Branch, No. 22, J. C. Road,
Bangalore-560002, Karnataka, India Email: prasannakpk@rediffmail.com
|
|
Nature of
instrument creating charge |
1) Supplemental
agreement of loan-cum-hypothecation. 2)
FORM-B (EXTN. OF MORTGAGE) Both
documents relate to single modification of charge |
|
Date of
instrument Creating the charge |
22.07.2011 |
|
Amount secured by
the charge |
Rs. 34.600 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest TL : 6.50%
above Base Rate WC:
6.00% above Base Rate Terms of
repayment TL: Rs. 6.000 Millions
Repayable in 36 Equated Monthly Installments. 31 Installments of Rs. 0.185 Millions per month from October 2011 to
April 2014. last installment of Rs. 0.265 Millions for may 2014 WC: Repayable on demand. Margin CC : Raw Materials, SIP, FG,
Receivables, BG, LC/Buyer's Credit: 25% TL2: 27.72% Extent and operation
of the charge The
charge on the properties shall operate to the extent of Rs. 34.600 Millions
plus interest, commission, costs, expenses and other charges thereon. |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation
charge over entire stocks of raw materials, semi finished goods, finished
goods, movables, book debts receivables and other current assets, plant and
Machinery purchased out of Bank finance belonging to the company. Extn. of
Equitable Mortgage created on all that piece and parcel of property at Plot.
No. 39, KIADB Industrial Area, Sy.No. 9, |
|
Date of instrument
modifying the charge |
19.03.2010 |
|
Particulars of
the present modification |
Total
limits enhanced from Rs. 23.500 Millions to Rs. 34.600 Millions. (CC(STOCKS
& REC.):Rs. 16.000 Millions, TL-1: Rs. 7.000 Millions, TL-2: Rs. 6.000 Millions,
BG: Rs. 0.500 Million, LC: Rs. 5.000 Millions, Forward Contract: Rs. 0.001
Million (Sub limit buyers credit: Rs. 5.000 Millions)) All
other terms and conditions incl. all existing securities to continue for the
entire limits. |
DIAMOND INDUSTRY –
-
From time immemorial,
-
The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
-
The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
-
Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
-
Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
-
The diamond jewellery industry in
-
Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In the
process, several public sector banks lost several hundred million rupees. They
mostly diverted borrowed money for diamond business into real estate and
capital markets.
-
Excerpts from Times of India dated 30th
October 2010 is as under –
DIAMOND
SAGA – DIRTY DOZEN STUCK WITH 2K CR DEBT
This could be the biggest credibility crisis
the Indian diamond industry has ever faced. Fifteen banks run the risk of
losing Rs. 20000.000 millions lent to a dozen diamond firms in
-
Most of the money borrowed from the banks in the name of
their diamond business has been diverted in real estate and the share market.
The banks are not in a position to seize their properties because in many
cases, these were purchased in the name of their relatives and friends.
TRADE REFERENCES:
FIXED ASSETS
AS PER WEB DETAILS
PROFILE
A pioneer in the Diamond Cutting Tool Technology, they, Subject is offering a wide range of
sophisticated and advanced Tools for Stone
and Concrete Cutting. In over a decade, they have achieved the
position of a reliable producer of Diamond
Cutting Tools. Eventually, they have developed an array of
high quality and durable tools along with acquiring the ISO 9001:2008
certification. In their wide assortment, customers can get hold of Diamond Segmented Circular Saw Blade, Diamond
Segments, Diamond Core Drill, Diamond Wire Saw and Wire Saw Beads.
Manufactured from top grade raw material and diamond, their
Cutting Tools provide total solution for any kind of Stone and Concrete Cutting
Requirement. In addition to this, they also have achieved a noteworthy position
in the market for manufacturing various Thermal
Spray Powders, Stainless Steel Powders and Bronze Powders. Their range of Metal Alloy Powders are manufactured
by competent and well experienced powder metallurgists.
On the grounds of continuous research regarding the technical specification,
required raw material, production process, testing parameters and others, they
have earned complete expertise as the manufacturer and supplier of Diamond Cutting Tools. Further, to aid their expertise, they
have fully empowered their selves in terms of infrastructure and other
arrangements. Owing to the available infrastructural set up, they maintain a
high production rate and swiftly meet the bulk orders of clients.
They have also catch up to the trend of outsourcing and hence, they are an ideal destination for foreign partner companies. With us, these companies can source the best products at competitive prices, which are less than the international market.
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. 56.53 |
|
|
1 |
Rs. 88.09 |
|
Euro |
1 |
Rs. 70.83 |
INFORMATION DETAILS
|
Information Gathered
by : |
PJA |
|
|
|
|
Report Prepared
by : |
ACH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
47 |
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.