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Report Date : |
02.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
POWERBAND INDUSTRIES PRIVATE LIMITED |
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Registered
Office : |
Survey No. 354/3,4,5, Kachigam, Daman – 396210, Daman and Diu |
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Country : |
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Date of
Incorporation : |
02.05.2011 |
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Com. Reg. No.: |
56-004695 |
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Capital
Investment / Paid-up Capital : |
Rs.5.000 Millions |
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CIN No.: [Company Identification
No.] |
U24110DD2011PTC004695 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
SRTP04558B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of packaging Material. |
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No. of Employees
: |
125 (Approximately) (In Office + In Factory) |
RATING & COMMENTS
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MIRA’s Rating : |
B (30) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was started as a proprietory concern in the year 1998 and was converted
into partnership concern in the year 2010. Later, it was converted into
private limited company in the year 2011. Trade relation 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
cautions. |
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
|
Name : |
Mr. Narish Desai |
|
Designation : |
Administrative Department |
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Contact No.: |
91-260-3053000 |
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Date : |
01.03.2012 |
LOCATIONS
|
Registered Office / Factory : |
Survey No. 354/3,4,5, Kachigam, Daman – 396210, Daman and Diu, India |
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Tel. No.: |
91-260-3053000 |
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Fax No.: |
91-260-3053100 |
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E-Mail : |
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Website : |
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Location : |
Owned |
DIRECTORS
As on 28.11.2010
|
Name : |
Mr. Rajan Rameshchandra Desai |
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Designation : |
Managing Director |
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Address : |
1 Floor, Mehara Houses, 2/10 Azad Nagar Society, N.S Road No 1, Juhu,
Vile Parle (West), Mumbai – 400056, Maharashtra, India |
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Date of Birth/Age : |
10.07.1954 |
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Date of Appointment : |
02.02.2011 |
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DIN No.: |
02187348 |
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Name : |
Mr. Siddharth Rajan Desai |
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Designation : |
Whole-time director |
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Address : |
At-Atul Society, Vapi - Valsad Road, Valsad Valsad – 396191, Gujarat,
India |
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Date of Birth/Age : |
19.06.1984 |
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Date of Appointment : |
02.05.2011 |
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DIN No.: |
02305162 |
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Name : |
Mr. Harsh Rajan Desai |
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Designation : |
Whole-time director |
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Address : |
At-Atul Society, Vapi - Valsad Road, Valsad Valsad – 396191, Gujarat,
India |
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Date of Birth/Age : |
22.04.1980 |
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Date of Appointment : |
02.05.2011 |
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DIN No.: |
02262746 |
KEY EXECUTIVES
|
Name : |
Mr. Narish Desai |
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Designation : |
Administrative Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.11.2010
|
Names of Shareholders |
|
No. of Shares |
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Rajan Rameshchandra Desai |
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470000 |
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Siddharth Rajan Desai |
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5000 |
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Geeta Rajan Desai |
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5000 |
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Harsh Rajan Desai |
|
5000 |
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Bhargavi Harsh Desai |
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5000 |
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Rameshchandra Desai |
|
5000 |
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Suraj Rameshchandra Desai |
|
5000 |
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Total |
|
500000 |
As on 29.11.2010
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Packaging Material. |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
·
USA ·
UK ·
Japan ·
Africa ·
Germany |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
·
Singapore ·
Japan ·
Malaysia |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Customers : |
Wholesalers, End Users and Others(Dealers/Distributors) ·
Atlas ·
Copco ·
Nivea ·
Apollo Tyres ·
Orgmarg ·
Bajaj ·
Pepsi ·
Berger Paints ·
Ponds ·
Blue Star ·
P and G India ·
Boots ·
Reliance ·
BPL ·
Sony ·
Cadbury ·
Samsonite ·
DHL ·
Siemens ·
ELF ·
Searle ·
Elbee Couriers ·
TNT ·
Greaves Cotton ·
Tata Chemicals ·
Goodyear ·
Toyota India ·
General Motors India ·
Tata telecom ·
Honda Motors India ·
Telco ·
Lakme ·
Tyco ·
Mahindra and Mahindra ·
Unilever ·
Mercedez-Benz India ·
UPS ·
Nestle ·
Wipro |
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No. of Employees : |
125 (Approximately) (In Office + In Factory) |
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|
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Bankers : |
·
ICICI Bank Limited, JMC House, Opposite Parimal Garden,
Ambawadi, Ahmedabad - 380006, Gujarat, India ·
ICICI Bank Limited, 8th Floor Vishwakarma Arcade,
Majura Gate, Ring Road, Surat - 380006, Gujarat, India |
|
Banking
Relations : |
-- |
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Auditors : |
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Name : |
Kakaria and Associates Chartered Accountants |
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Address : |
Vapi, Gujarat, India |
CAPITAL STRUCTURE
As on 29.11.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
Not Available
Expected Sales (2011-2012) : Rs.1300.000 Millions.
The above information has been parted by Mr. Narish Desai
PARTNERSHIP
FIRM
|
Particulars |
|
31.03.2011 |
31.03.2010 |
|
Sales Turnover (Approximately) |
|
1000.000 |
800.000 |
LOCAL AGENCY FURTHER INFORMATION
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Check List by Info Agents |
Available in Report (Yes / No) |
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1) Year of Establishment |
Yes |
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2) Locality of the firm |
Yes |
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3) Constitutions of the firm |
Yes |
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4) Premises details |
Yes |
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5) Type of Business |
Yes |
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6) Line of Business• |
Yes |
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7) Promoter’s background |
-- |
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8) No. of employees |
Yes |
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9) Name of person contacted |
Yes |
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10) Designation of contact person |
Yes |
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11) Turnover of firm for last two years |
Yes |
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12) Profitability for last three years |
No |
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13) Reasons for variation <> 20% |
No |
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14) Estimation for coming financial year |
Yes |
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15) Capital in the business |
No |
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16) Details of sister concerns |
No |
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17) Major suppliers |
No |
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18) Major customers |
No |
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19) Payments terms |
Yes |
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20) Export / Import details (if applicable) |
Yes |
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21) Market information |
-- |
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22) Litigations that the firm / promoter |
-- |
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23) Banking Details |
Yes |
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24) Banking facility details |
No |
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25) Conduct of the banking account |
-- |
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26) Buyer visit details |
-- |
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27) Financials, if provided |
No |
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28) Incorporation details, if applicable |
-- |
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29) Last accounts filed at ROC |
-- |
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30) Major Shareholders, if available |
-- |
Note:
The registered address of the company has been
shifted from 354-3,4,5, Kachiugam, Daman – 396210, Daman and Diu, India to the
present address w.e.f. 03.05.2011
Bankers Charges
Report as per Registry
|
Corporate identity number of the company |
U24110DD2011PTC004695 |
|
Name of the company |
POWERBAND INDUSTRIES PRIVATE LIMITED |
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Address of the registered office or of the principal place of business in India of the company |
Survey No. 354/3,4,5, Kachigam, Daman – 396210, Daman and Diu, India E-mail : admin@powerband.in |
|
This form is for |
Modification of charge |
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Charge identification (ID) number of the charge to be modified |
10319313 |
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Type of charge |
Book debts Movable property (not being pledge) |
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Particular of charge holder |
ICICI Bank
Limited, 8th Floor Vishwakarma Arcade, Majura Gate, Ring Road, Surat -
380006, Gujarat, India E-mail : anil.ramnani@icicibank.com |
|
Nature of instrument creating charge |
Supplemental deed of hypothecation (w.e.f.) dated 31.12.2011 for
enhancement of credit facilities to the tune of Rs.145.000 million. |
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Date of instrument Creating the charge |
31.12.2011 |
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Amount secured by the charge |
Rs.145.000 Millions |
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Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest As per master facility agreement dated 24.02.2011 and supplemental deed
of hypothecation dated 31.12.2011. Terms of Repayment As per master facility agreement dated 24.02.2011 and supplemental
deed of hypothecation dated 31.12.2011. Margin As per master facility agreement dated 24.02.2011 and supplemental
deed of hypothecation dated 31.12.2011. Extent and Operation of the charge First charge by way of hypothecation on the entire stock of raw
material, semi finished goods, finished goods, consumables, stores and
spares, all movable assets, outstanding monies, receivable present and future
book-debts, unencumbered machinery machineries situated at survey no. 354/3,
354/4, 354/5 at Kachigam Road, Kachigam, Nani Daman-369210, ranking pari passu with other participating
banks. |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
The whole of borrower's stock of raw material, goods in process, semi
finished goods, finished goods, consumables, stores and spares, all movable
assets, book debts, bills, cash in hand both present and future. Movable properties including movable plant
and machineries, spares, tools, accessories, non-trade receivables and other
movable assets situated at survey no. 354/3, 354/4, 354/5 at Kachigam Road,
Kachigam, Nani Daman-369210, ranking pari passu with other participating
banks. |
|
Particulars of the present modification |
Enhancement of Credit Facilities Not Exceeding Rs.45.000 Millions Vide
Supplemental Deed Of Hypothecation Dated 31.12.2011 Aggregating The Total
Sanctioned Credit Facility Limit To Rs.145.000 Million. |
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.49.15 |
|
|
1 |
Rs.78.25 |
|
Euro |
1 |
Rs.65.57 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--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 |
NO |
|
--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 |
|
30 |
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.