MIRA
INFORM REPORT
|
Report Date : |
09.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
ISHAN CASTINGS PRIVATE LIMITED |
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Registered
Office : |
14, Poonam Vihar, Behind Sachyani Complex, Swavalmbhi Nagar,
Nagpur-440022, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
09.06.2008 |
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Com. Reg. No.: |
11-183309 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.100 Million |
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CIN No.: [Company Identification
No.] |
U27310MH20008PTC183309 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
NGPI01192C |
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PAN No.: [Permanent Account No.] |
AABCI9108K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Trader, Distributors and Supplier of Chaplates, S. G.
Iron. |
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No. of Employees
: |
Information not given by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (12) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Recently Commenced Business |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Though the company was incorporated in the year 2008. The company has recently
commenced it’s commercial operations from April 2011. Payments are unknown. The company can be considered for business dealings on a safe and
secured 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.
INFORMATION DECLINED BY
Unable to contact
LOCATIONS
|
Registered Office : |
14, Poonam Vihar, Behind Sachyani Complex, Swavalmbhi Nagar,
Nagpur-440022, Maharashtra, India |
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Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Office : |
W-119/120, MIDC Area, Hingna Road, Nagpur-440016, Maharashtra, India |
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Tel. No.: |
91-7104-236268 |
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Fax No.: |
91-7104-236601 |
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|
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Works : |
Plot No. H 6/7, Near Reliance Energy Limited, MIDC Area, Butibori,
Nagpur- 441108, Maharashtra, India |
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Tel. No.: |
91-7104-236601 |
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E-Mail : |
DIRECTORS
AS ON 29.09.2011
|
Name : |
Mr. Sureshchand Kamlakant Jaiswal |
|
Designation : |
Director |
|
Address : |
Row House No.14, PoonamVihar, Nagpur-440022, Maharashtra, India |
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Date of Birth/Age : |
10.06.1962 |
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Date of Appointment : |
09.06.2008 |
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DIN No.: |
00996069 |
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Name : |
Mrs. Asha Sureshchand Jaiswal |
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Designation : |
Director |
|
Address : |
Row House No.14, PoonamVihar, Nagpur-440022, Maharashtra, India |
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Date of Birth/Age : |
17.08.1967 |
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Date of Appointment : |
09.06.2008 |
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DIN No.: |
00996180 |
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Name : |
Mr. Akash Sureshchand Jaiswal |
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Designation : |
Director |
|
Address : |
Row House No.14, PoonamVihar, Nagpur-440022, Maharashtra, India |
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Date of Birth/Age : |
18.08.1983 |
|
Date of Appointment : |
09.06.2008 |
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DIN No.: |
01185740 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2011
|
Names of Shareholders |
No. of Equity Shares Allottee |
|
Sureshchand Kamlakant Jaiswal |
324000 |
|
Asha Sureshchand Jaiswal |
63000 |
|
Akash Sureshchand Jaiswal |
43000 |
|
Anita Mittal |
180000 |
|
Agrofab Machineries (India) Private Limited, India |
300000 |
|
Total |
910000 |
AS ON 29.09.2011
|
Equity Shares
Break Up |
Percentage |
|
Bodies corporate |
32.97 |
|
Directors or relatives of Directors |
67.03 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Trader, Distributors and Supplier of Chaplates, S. G.
Iron. |
GENERAL INFORMATION
|
Suppliers : |
·
Aster Buildings Solutions Private Limited ·
S K Gupta Private Limited ·
Shivshakti Material and Supplier ·
Shree Raghunath Suppliers ·
Elesun Systems Private Limited ·
Bhartia Non Conventional Products ·
Harish Industries ·
Shamlax Meta Chem Private Limited ·
Shree Bajrang Sales Private Limited ·
Orkla India Private Limited ·
Inductotherm Private Limited ·
Central Scientific Company ·
Epsilon Cables (Private) Limited ·
La Trading Company ·
Gati Limited ·
Associated Road Carriers Limited ·
Bridge Marketing ·
Karan Goods Carrier |
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No. of Employees : |
Information not given by the management |
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Bankers : |
Nagpur Nagarik Sahakari Bank Limited, Din Dayal Nagar Branch, Ring
Road, Nagpur-440022, Maharashtra, India
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
K P R K and Associates Chartered Accountant |
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Address : |
Zero Mile Stone, Civil Lines (Machimar Building), Nagpur-440001,
Maharashtra, India |
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Pan No.: |
AAGF6923Q |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000 |
Equity Shares |
Rs.10/- each |
Rs. 3.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100
Million |
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AS ON 29.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
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 |
|
|
|
|
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|
910000 |
Equity Shares |
Rs.10/- each |
Rs. 9.100
Millions |
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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 |
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|
|
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|
1] Share Capital |
0.100 |
0.100 |
0.100 |
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|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
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|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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|
NETWORTH |
0.100 |
0.100 |
0.100 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
53.799 |
19.083 |
0.000 |
|
|
2] Unsecured Loans |
32.792 |
12.206 |
10.011 |
|
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TOTAL BORROWING |
86.591 |
31.289 |
10.011 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
86.691 |
31.389 |
10.111 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
88.797 |
22.994 |
3.215 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
1.075 |
0.575 |
0.000 |
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PRELIMINARY EXPENDITURE |
0.081 |
0.081 |
0.061 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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|
Inventories |
8.413
|
0.000 |
0.000 |
|
|
Sundry Debtors |
0.000
|
0.000 |
0.000 |
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|
Cash & Bank Balances |
0.433
|
0.071 |
0.388 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
9.951
|
8.688 |
7.248 |
|
Total
Current Assets |
18.797
|
8.759 |
7.636 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
21.030
|
1.984 |
|
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|
Other Current Liabilities |
0.296
|
(0.11) |
0.801 |
|
|
Provisions |
0.733
|
0.079 |
|
|
Total
Current Liabilities |
22.059
|
2.052 |
0.801 |
|
|
Net Current Assets |
(3.262)
|
6.707 |
6.835 |
|
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|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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PROPERATIVE EXPENDITURE |
0.000 |
1.032 |
0.000 |
|
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|
|
|
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TOTAL |
86.691 |
31.389 |
10.111 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
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Other Income |
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|
|
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TOTAL |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
|
|
Less |
EXPENSES |
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|
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|
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|
Office Expenses |
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Financial Expenses |
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Depreciation |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
0.000 |
0.000 |
0.000 |
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PROFIT BEFORE
TAX |
0.000 |
0.000 |
0.000 |
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Less |
TAX |
0.000 |
0.000 |
0.000 |
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PROFIT AFTER TAX
|
0.000 |
0.000 |
0.000 |
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|
Earnings Per
Share (Rs.) |
0.00 |
0.00 |
0.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.00
|
0.00 |
0.00 |
|
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|
Net Profit Margin (PBT/Sales) |
(%) |
0.00
|
0.00 |
0.00 |
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.00
|
0.00 |
0.00 |
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
1086.50
|
333.41 |
108.12 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.85
|
4.27 |
9.53 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
|
|
|
|
Creditors for Capital Work In Progress |
6.283 |
1.851 |
|
|
Creditors for Raw Material |
8.343 |
0.000 |
|
|
Creditors for Capital Goods (Machinery) |
6.174 |
0.006 |
|
|
Creditors for Expenses |
0.230 |
0.127 |
|
|
Total |
21.030 |
1.984 |
0.801 |
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors
|
|
|
|
|
Creditors for
Capital Work In Progress |
|
|
|
|
Aster Buildings Solutions Private Limited |
0.001 |
|
|
|
S K Gupta Private Limited |
0.002 |
|
|
|
Shivshakti Material and Supplier |
0.004 |
|
|
|
Shree Raghunath Suppliers |
0.046 |
|
|
|
Elesun Systems Private Limited |
0.220 |
|
|
|
Creditors for
Raw Material |
|
|
|
|
Bhartia Non Conventional Products |
0.141 |
|
|
|
Harish Industries |
0.003 |
|
|
|
Shamlax Meta Chem Private Limited |
0.016 |
|
|
|
Shree Bajrang Sales Private Limited |
0.003 |
|
|
|
Orkla India Private Limited |
0.016 |
|
|
|
Creditors for
Capital Goods (Machinery) |
|
|
|
|
Inductotherm Private Limited |
0.008 |
1.984 |
0.801 |
|
Central Scientific Company |
0.166 |
|
|
|
Epsilon Cables (Private) Limited |
0.017 |
|
|
|
La Trading Company |
0.001 |
|
|
|
Creditors for
Expenses |
|
|
|
|
Gati Limited |
0.001 |
|
|
|
Associated Road Carriers Limited |
0.025 |
|
|
|
Bridge Marketing |
0.013 |
|
|
|
Karan Goods Carrier |
0.017 |
|
|
OPERATION
The company has successfully
completed its installation and had done trial run during the year. The project
is completed as per planned and the directors have started its commercial
operation with effect from 01.04.2011. The directors are expecting reasonable
profit in the running year as its finish goods is approved by vendors subject
to prevailing market condition.
FORM 8
|
Corporate
identity number of the company |
U27310MH2008PTC183309 |
|
Name of the
company |
ISHAN CASTINGS
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
14, Poonam Vihar, Behind Sachyani Complex, Swavalmbhi Nagar, Nagpur-440022, Maharashtra, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book debts Movable property
(not being pledge) Others |
|
Particular of
charge holder |
Nagpur Nagarik Sahakari Bank Limited, Din Dayal Nagar Branch, Ring Road, Nagpur-440022, Maharashtra, India |
|
Nature of
instrument creating charge |
Agreement of Hypothecation
of Stocks and Book Debts |
|
Date of
instrument Creating the charge |
22.07.2011 |
|
Amount secured by
the charge |
Rs. 5.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Interest rate and
Penal Interest rate as agreed between the borrower company and the bank from
time to time. Terms of repayment Repayment, as
agreed between the borrower company and the bank from time to time. Margin Margin Rate, as
agreed between the borrower company and the bank from time to time. Extent and operation of the charge At the request of
the borrower company, the bank has sanctioned Bank Guarantee limit of Rs.
50.00 Lacs against Hypothecation of Stocks, Book - Debts and other Movable
assets of the company. |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation of
Stocks, Book - Debts and other Movable assets of the company. |
FIXED ASSETS
·
Plot
·
Furniture and Fixtures
·
Plant and Machinery
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. 50.02 |
|
|
1 |
Rs. 79.31 |
|
Euro |
1 |
Rs. 66.02 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
-- |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
12 |
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.