MIRA
INFORM REPORT
|
Report Date : |
10.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
GOVIND STEEL COMPANY LIMITED |
|
|
|
|
Registered
Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
19.12.1958 |
|
|
|
|
Com. Reg. No.: |
21-024064 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.11.999
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27109WB1958PLC024064 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALG00736B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCG0130B |
|
|
|
|
Legal Form : |
A closely held Public Limited Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Supplier of Construction Casting, Counter
Weights, Steel Plant Castings, Decorative Castings, etc. |
|
|
|
|
No. of Employees
: |
425 (In Office 25) (In Factory 400) (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 180000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade relations
are 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) |
|
India |
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. Roy |
|
Designation : |
Assistant Manager |
|
Contact No.: |
91-9748416000 |
|
Date : |
21.02.2012 |
LOCATIONS
|
Registered Office : |
|
|
Tel. No.: |
91-33-25309445 / 32904122 / 25309384 |
|
Mobile No.: |
91-9831087626 (Mr. S. Roy) |
|
Fax No.: |
91-33-25309368 / 26725978 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
5000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory: |
101/1, |
|
Tel. No.: |
91-33-25309445/30904122/2672201/26721144 |
|
Fax No.: |
91-33-25309368/26725978 |
|
Area : |
2000 sq. ft. |
|
Location : |
Owned |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Dinesh Kumar Seksaria |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
18.05.1951 |
|
Qualification: |
B. Com |
|
Date of Appointment : |
16.04.1970 |
|
Pan No.: |
AJJPS2450C |
|
DIN No.: |
00764194 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U27109WB1958PLC024064 |
GOVIND
STEEL COMPANY LIMITED |
Director |
16-04-70 |
16-04-70 |
Active |
NO |
|
2 |
U70200WB1980PTC033154 |
ADHUNIK
PROPERTIES PRIVATE LIMITED |
Director |
15-02-82 |
15-02-82 |
Active |
NO |
|
3 |
U21023WB1961PTC025199 |
DINESH
BROTHERS PRIVATE LIMITED |
Director |
20-03-91 |
20-03-91 |
Active |
NO |
|
4 |
U45203WB2005GAP102891 |
FOUNDRY
CLUSTER DEVELOPMENT ASSOCIATION |
Director |
29-04-05 |
29-04-05 |
Active |
NO |
|
5 |
U91200WB1952NPL020468 |
INDIAN
FOUNDRY ASSOCIATION |
Director |
25-01-06 |
25-01-06 |
Active |
NO |
|
6 |
U51909WB2007PTC119411 |
WOODLAND
COMMERCE PRIVATE LIMITED |
Director |
11-03-10 |
11-03-10 |
Active |
NO |
|
Name : |
Mr. Gaurav Seksaria |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
26.09.1978 |
|
Qualification: |
B. Com |
|
Date of Appointment : |
07.09.1998 |
|
Pan No.: |
AKFPS0461E |
|
DIN No.: |
00764144 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U21023WB1961PTC025199 |
DINESH
BROTHERS PRIVATE LIMITED |
Director |
03-06-97 |
03-06-97 |
Active |
NO |
|
2 |
U27109WB1958PLC024064 |
GOVIND
STEEL COMPANY LIMITED |
Whole-time
director |
01-04-10 |
07-09-98 |
Active |
NO |
|
3 |
L28112WB1974PLC029617 |
SEKSARIA
FOUNDRIES LIMITED |
Additional
director |
17-04-09 |
17-04-09 |
Active |
NO |
|
4 |
U74140WB2010PTC141679 |
NANDINI
BUSICOM PRIVATE LIMITED |
Director |
03-02-10 |
03-02-10 |
Active |
NO |
|
5 |
U51909WB2007PTC119411 |
WOODLAND
COMMERCE PRIVATE LIMITED |
Director |
11-03-10 |
11-03-10 |
Active |
NO |
|
Name : |
Chhatar Singh Kathoria |
|
Designation : |
Director |
|
Address : |
7H, |
|
Date of Birth/Age : |
15.10.1936 |
|
Qualification: |
LLB |
|
Date of Appointment : |
18.05.2009 |
|
DIN No.: |
00379792 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
L28112WB1974PLC029617 |
SEKSARIA
FOUNDRIES LIMITED |
Director |
31-08-76 |
31-08-76 |
Active |
NO |
|
2 |
U45209WB1983PTC036222 |
NICO
CONSTRUCTION PRIVATE LIMITED |
Director |
29-02-84 |
29-02-84 |
Active |
NO |
|
3 |
L27109WB1981PLC034108 |
SCRAP
BREAKING AND PROCESSING INDIA LTD |
Director |
02-09-98 |
02-09-98 |
Active |
NO |
|
4 |
U45201WB2003PTC096176 |
PRAPTI
NIRMAN PRIVATE LIMITED |
Director |
07-05-03 |
07-05-03 |
Active |
NO |
|
5 |
U51909WB2008PTC123546 |
DAFFODIL
TOWER PRIVATE LIMITED |
Director |
30-09-09 |
19-03-08 |
Active |
NO |
|
6 |
U27109WB1958PLC024064 |
GOVIND
STEEL COMPANY LIMITED |
Director |
18-05-09 |
18-05-09 |
Active |
NO |
|
7 |
U21023WB1961PTC025199 |
DINESH
BROTHERS PRIVATE LIMITED |
Director |
18-05-09 |
18-05-09 |
Active |
NO |
|
Name : |
Bhagwati Prasad Seksaria |
|
Designation : |
Director |
|
Address : |
219, |
|
Date of Birth/Age : |
01.10.1936 |
|
Date of Appointment : |
01.03.1975 |
KEY EXECUTIVES
|
Name : |
Mr. Roy |
|
Designation : |
Assistant Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Equity Shares |
No. of Preference Shares |
|
Rattan Lal Sureka |
100 |
-- |
|
Satyanarayan Jhunjhunwala |
10 |
-- |
|
Gajanand Channiwala |
600 |
-- |
|
Shiva Bagaria |
100 |
-- |
|
Dinesh Seksria |
356000 |
-- |
|
Bhagwati Seksaria |
1000 |
-- |
|
Uma Seksaria |
77685 |
-- |
|
Dlmiller and Company Private Limited, India |
100 |
-- |
|
Scrap Brakings and Procesing Private Limited, India |
19500 |
-- |
|
Dinesh Seksria and Gaurav Seksria |
10500 |
-- |
|
Dinesh Brothers Private Limited, India |
142800 |
23000 |
|
Gaurav Seksria |
91505 |
-- |
|
Radytia Seksria |
-- |
6000 |
|
Ritu Seksria |
-- |
6000 |
|
Swastika Trexim Private Limited, India |
-- |
15000 |
|
Total |
699900 |
50000 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage |
|
Bodies corporate |
23.20 |
|
Directors or relatives of Directors |
76.54 |
|
Other top fifty shareholders |
0.26 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Supplier of Construction Casting, Counter
Weights, Steel Plant Castings, Decorative Castings, etc. |
||||||
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||||||
|
Products : |
|
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|
||||||
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Terms : |
|
||||||
|
Selling : |
Cash and Credit |
||||||
|
|
|
||||||
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Gray Iron Castings |
M.T. |
30000 |
8210.057 |
GENERAL INFORMATION
|
Customers : |
·
Wholesales ·
Retailers ·
End Users |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
No. of Employees : |
425 (In Office 25) (In Factory 400) (Approximately) |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Bankers : |
State Bank of Bikaner and Jaipur, N. S. Road Branch, 14 N. S. Road,
Kolkata-700001, West Bengal, India |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Chartered Accountant |
|
Address : |
42/1, |
|
Tel. No.: |
91-33-22374622 |
|
E-Mail : |
|
|
Pan No.: |
AAAFU8724F |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750000 |
Equity Shares |
Rs.10/- each |
Rs. 7.500 Millions |
|
55000 |
Preference Shares |
Rs.100/- each |
Rs. 5.500 Millions |
|
|
Total |
|
Rs. 13.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
699900 |
Equity Shares |
Rs.10/- each |
Rs. 6.999
Millions |
|
50000 |
6% Cumulative Redeemable Preference Shares |
Rs.100/-
each |
Rs. 5.000
Millions |
|
|
Total |
|
Rs. 11.999 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 |
11.999 |
11.999 |
11.999 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
35.249 |
33.487 |
32.455 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
47.248 |
45.486 |
44.454 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
43.793 |
33.692 |
56.401 |
|
|
2] Unsecured Loans |
11.800 |
1.750 |
52.851 |
|
|
TOTAL BORROWING |
55.593 |
35.442 |
109.252 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
102.841 |
80.928 |
153.706 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
7.645 |
7.662 |
7.135 |
|
|
Capital work-in-progress |
5.904 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.178 |
1.178 |
0.288 |
|
|
DEFERREX TAX ASSETS |
0.250 |
0.211 |
0.177 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
51.484
|
22.957
|
64.947 |
|
|
Sundry Debtors |
26.604
|
18.254
|
30.989 |
|
|
Cash & Bank Balances |
3.964
|
0.662
|
4.243 |
|
|
Other Current Assets |
5.359
|
41.847
|
59.510 |
|
|
Loans & Advances |
61.990
|
70.965
|
56.312 |
|
Total
Current Assets |
149.401
|
154.685 |
216.001 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
55.011
|
16.610
|
11.495 |
|
|
Other Current Liabilities |
|
60.644
|
53.624 |
|
|
Provisions |
6.526
|
5.554
|
4.776 |
|
Total
Current Liabilities |
61.537
|
82.808 |
69.895 |
|
|
Net Current Assets |
87.864
|
71.877
|
146.106 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
102.841 |
80.928 |
153.706 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
414.135 |
322.826 |
441.547 |
|
|
|
Other Income |
0.947 |
6.210 |
17.508 |
|
|
|
TOTAL (A) |
415.082 |
329.036 |
459.055 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw material consumed |
338.028 |
218.731 |
398.402 |
|
|
|
Construction expenses |
0.000 |
2.751 |
12.752 |
|
|
|
Manufacturing and other expenses |
65.251 |
81.223 |
56.846 |
|
|
|
Excise duty |
0.000 |
0.000 |
0.671 |
|
|
|
Preliminary expenses written off |
0.000 |
0.000 |
0.002 |
|
|
|
Increase / decrease in stocks |
3.757 |
19.875 |
(18.122) |
|
|
|
TOTAL (B) |
407.036 |
322.580 |
450.551 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
8.046 |
6.456 |
8.504 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
3.874 |
3.284 |
5.141 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4.172 |
3.172 |
3.363 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.147 |
1.108 |
0.994 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
3.025 |
2.064 |
2.369 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.912 |
0.682 |
1.260 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
2.113 |
1.382 |
1.109 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
8.822 |
7.791 |
7.533 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transferred to Capital Redemption Reserves
|
0.000 |
0.000 |
0.500 |
|
|
|
Proposed Dividend on Preferences Shares |
0.300 |
0.300 |
0.300 |
|
|
|
Tax on Dividend |
0.051 |
0.051 |
0.051 |
|
|
BALANCE CARRIED TO
THE B/S |
10.584 |
8.822 |
7.791 |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
NA |
49.970 |
70.879 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
43.134 |
147.690 |
|
|
|
Traveling |
NA |
2.770 |
2.490 |
|
|
TOTAL IMPORTS |
NA |
45.904 |
150.180 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.52 |
1.47 |
1.08 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.51
|
0.42
|
0.24 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.73
|
0.64
|
0.54 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.92
|
1.27
|
1.06 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.05
|
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.48
|
2.60
|
4.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.43
|
1.87
|
3.09 |
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 |
------ |
|
8. No. of Employees |
Yes |
|
9. Name of person contacted |
Yes |
|
10. Designation of contact person |
Yes |
|
11. Turnover of firm for last three years |
Yes |
|
12. Profitability for last three years |
Yes |
|
13. Reasons for variation <> 20% |
No |
|
14. Estimation for coming financial year |
No |
|
15. Capital in the business |
Yes |
|
16. Details of sister concerns |
No |
|
17. Major suppliers |
No |
|
18. Major customers |
No |
|
19. Payments terms |
Yes |
|
20. Export / Import details |
Yes |
|
21. Market information |
------- |
|
22. Litigations that the firm / promoter involved |
------ |
|
23. Banking Details |
Yes |
|
24. Banking facility details |
No |
|
25. Conduct of the banking account |
------ |
|
26. Buyer visit details |
------ |
|
27. Financials, if provided |
No |
|
28. Incorporation details, if applicable |
------ |
|
29. Last accounts filed at ROC |
------ |
|
30. Major Shareholders, if available |
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FORM 8
|
Corporate
identity number of the company |
U27109WB1958PLC024064 |
|
Name of the
company |
GOVIND STEEL CO
LTD |
|
Address of the
registered office or of the principal place of business in |
|
|
This form is for |
Modification of
charge Creation of
charge |
|
Type of charge |
Immovable
property Book debts Movable property
(not being pledge) Floating charge Others |
|
Particular of
charge holder |
State Bank of |
|
Nature of
instrument creating charge |
Supplemental
Agreement of Loan-cum-Hypothecation Memorandum for
Recording Extension of Mortgage by Deposit of Title Deeds Covering Enhanced
Limits and/or Creation of Equitable Mortgage of Additional Properties for
Existing Limits and Enhanced Limits and Additional Facilities |
|
Date of
instrument Creating the charge |
16.08.2011 |
|
Amount secured by
the charge |
Rs. 120.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Cash Credit
(Hypo) : At 5.25% + Base Rate, Term Loan : At
5.75% + Base Rate. Terms of repayment Working Capital
Limit is repayable on demand. The Term Loan of
Rs. 50.000 Millions is repayable in 20 equal quarterly installments of Rs.
2.500 Millions commencing from June, 2012 and ending on June, 2017. Margin As stipulated by
the Bank for the respective assets from time to time. Raw Materials
(Import and Indigenous) : 25%, Semi Finished
Goods : 25%, Finished Goods :
25% and Domestic
Receivables : 50%. Extent and operation of the charge First charge on
the current assets and second charge on the fixed assets for Working Capital
limit and first charge on the fixed assets and second charge on the current
assets for Term Loan limit for
securing the maximum amount under the said charge fixed at Rs.120.000
Millions together with interest, costs and charges thereon. Other The Borrower shall
not do or allow anything which may prejudice the security and shall comply
with the terms and conditions of the Agreements. All other terms
and conditions continue to remain as before in full force and effect. |
|
Short particulars
of the property charged (Including location of the property) |
Entire current
assets and fixed assets (present and future) of the Company including plant
and machinery purchased out of term loan facility sanctioned by the Bank. Factory land,
building factory foundry structures plant and machinery at 100/1, G. T. Road,
Rishra, Hooghly measuring 6.790 acres at Mouza Rishra. All piece and
parcel of land measuring 22 Cottah 19 Chattak and 5 Sq. Ft. servants quarter
there on at premises No.71/4 Panchantala Street, Rishra, Hooghly. |
|
Charge
identification number of the charge to be modified |
90249563 |
|
Date of
instrument modifying the charge |
21.11.2009 |
|
Particulars of
the present modification |
By this modification,
the overall limit is enhanced from Rs.72.300 Millions to Rs.120.000 Millions
as stated under and charge on hypothecated current assets, movable fixed
assets and above mentioned mortgaged properties of the Company extended to
secure the enhanced overall limit together with interest, costs and charges
thereon: CC (Hypo) :
Rs.40.000 Millions EPC : (Rs.20.000
Millions) EBP : (Rs.20.000
Millions) TL : Rs.50.000
Millions LC : Rs.30.000
Millions BG : (Rs.4.000
Millions). |
FIXED ASSETS:
- Land
- Building
- Plant and Machinery
- Weighing Machine
- Electric Installation
- Tube Well
- Computer
- Office Equipment
- Furniture and Fixtures
- Vehicles
- Fire Extinguisher
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. 50.01 |
|
|
1 |
Rs. 79.00 |
|
Euro |
1 |
Rs. 66.17 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
43 |
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.