MIRA
INFORM REPORT
|
Report Date : |
25.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
ICICI HOME FINANCE COMPANY LIMITED |
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Registered
Office : |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
28.05.1999 |
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Com. Reg. No.: |
11-120106 |
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Capital
Investment / Paid-up Capital : |
Rs. 10987.500 Millions |
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|
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CIN No.: [Company Identification
No.] |
U65922MH1999PLC120106 |
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|
|
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMI04738G |
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Legal Form : |
A Closely Held Public Limited Liability Company. |
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Line of Business
: |
The company is engaged in the business of providing loans for
purchase, construction, repairs and renovation etc., of houses / flats to
individuals, corporate bodies, builders and co-operative housing societies. |
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|
|
|
No. of
Employees: |
Information declined
by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (58) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Maximum Credit Limit : |
USD 53000000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of ICICI Bank Limited. It is an established
company having fine track. Trade relations are reported as fair. Business is
active. Payments are reported to be regular 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.
INFORMATION DECLINED
Management Non Co-operative
LOCATIONS
|
Registered Office : |
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Tel. No.: |
91-22-26531414 |
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Fax No.: |
91-22-26531215 |
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E-Mail : |
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Website : |
DIRECTORS
AS ON 15.06.2011
|
Name : |
Mr. Sachin Khandelwal |
|
Designation : |
Managing Director |
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Address : |
No.11A, Peregrine 400, Veer Savarkar Marg, Behind Kohinoor Hotel, Prabhadevi,
Mumbai-400025, |
|
Date of Birth/Age : |
04.03.1967 |
|
Date of Appointment : |
04.01.2011 |
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DIN No.: |
00055621 |
|
Name : |
Mr. Jayesh Manhar Gandhi |
|
Designation : |
Director |
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Address : |
A/4, Mewawala Apartment, |
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Date of Birth/Age : |
09.01.1962 |
|
Date of Appointment : |
18.10.2006 |
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DIN No.: |
00221855 |
|
Name : |
Mr. Subramaniam Santhanakrishnan |
|
Designation : |
Director |
|
Address : |
Flat G5, Block 2, Prime Terrace 150, |
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Date of Birth/Age : |
08.11.1944 |
|
Date of Appointment : |
24.07.2008 |
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DIN No.: |
00005069 |
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|
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Name : |
Mr. Dileep C. Choksi |
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Designation : |
Additional Director |
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Address : |
E-7, |
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Date of Birth/Age : |
26.12.1949 |
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Date of Appointment : |
25.09.2009 |
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DIN No.: |
00016322 |
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|
|
Name : |
Mr. Rajiv Sabharwal |
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Designation : |
Director |
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Address : |
Y-1301, 13th Floor, Callalily Nahar’s Amrit Shakti Off Saki
Vihar Road, Chandivali, Andheri East, Mumbai
- 400072, Maharashtra, India |
|
Date of Birth/Age : |
28.09.1965 |
|
Date of Appointment : |
25.04.2002 |
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DIN No.: |
00057333 |
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|
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Name : |
Mr. Maninder S. Juneja |
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Designation : |
Director |
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Address : |
D -1002, |
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Date of Birth/Age : |
31.01.1966 |
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Date of Appointment : |
08.04.2010 |
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DIN No.: |
02680016 |
KEY EXECUTIVES
|
Name : |
Mr. Pratap Salian |
|
Designation : |
Company Secretary |
|
Address : |
19/102, Sanskriti |
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Date of Birth/Age : |
01.06.1964 |
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Date of Appointment : |
11.04.2011 |
|
PAN No.: |
AQUPS7901E |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 15.06.2011
|
Names of Shareholders |
No. of Shares |
|
ICICI Bank Limited, |
1098748790 |
|
ICICI Securities Limited, |
500 |
|
ICICI Bank Limited, |
110 |
|
ICICI Lombard General Insurance Company Limited, |
100 |
|
ICICI Investments Management Company Limited, |
100 |
|
ICICI Trusteeship Services Limited, |
100 |
|
ICICI Venture Funds Management Company Limited, |
100 |
|
ICICI Securities Primary Dealership Limited, |
100 |
|
ICICI Securities Limited, |
100 |
|
Total |
1098750000 |
AS ON 15.06.2011
|
Equity Shares Break
Up |
Percentage |
|
Nationalized or other banks |
99.99 |
|
Bodies corporate |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in the business of providing loans for purchase,
construction, repairs and renovation etc., of houses / flats to individuals,
corporate bodies, builders and co-operative housing societies. |
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|
|
|
Services : |
·
Home Loans |
GENERAL INFORMATION
|
No. of Employees : |
Information declined
by the management |
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Bankers : |
ICICI Bank Limited, |
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Banking
Relations : |
-- |
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Financial Institution : |
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Auditors : |
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Name : |
S R Batliboi and Company Chartered Accountants |
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Address : |
6th Floor, |
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Tel. No.: |
91-22-66579200 |
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Fax No.: |
91-22-22876401 |
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PAN No.: |
AALFS0506L |
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|
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Holding Company : |
ICICI Bank Limited CIN No.: L65190GJ1994PLC021012 |
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Fellow Subsidiaries / Fellow Entity : |
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Associates : |
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CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2385000000 |
Equity Shares |
Rs.10/- each |
Rs. 23850.000 Millions |
|
15000000 |
Preference Shares |
Rs.10/- each |
Rs. 150.000 Millions |
|
|
|
|
|
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Total |
|
Rs. 24000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1098750000 |
Equity Shares |
Rs.10/- each |
Rs.
10987.500 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 |
|
|
|
|
|
1] Share Capital |
10987.500 |
10987.500 |
10987.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2416.675 |
1826.290 |
1466.438 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
13404.175 |
12813.790 |
12453.938 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
14808.600 |
14862.200 |
10700.000 |
|
|
2] Unsecured Loans |
58307.706 |
100473.057 |
106912.457 |
|
|
TOTAL BORROWING |
73116.306 |
115335.257 |
117612.457 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.0000 |
|
|
|
|
|
|
|
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TOTAL |
86520.481 |
128149.047 |
130066.395 |
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|
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|
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APPLICATION OF FUNDS |
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|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
53.579 |
663.029 |
60.101 |
|
|
Capital work-in-progress |
1.569 |
4.840 |
0.000 |
|
|
|
|
|
|
|
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INVESTMENT |
3508.281 |
13279.733 |
15697.960 |
|
|
DEFERREX TAX ASSETS |
398.708 |
414.909 |
392.621 |
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000
|
0.000 |
|
|
Sundry Debtors |
47.304
|
47.679
|
94.252 |
|
|
Cash & Bank Balances |
2231.329
|
3085.188
|
4687.326 |
|
|
Other Current Assets |
1559.414
|
1069.613
|
1172.305 |
|
|
Loans & Advances |
517.667
|
4004.899
|
430.883 |
|
Total
Current Assets |
4355.714
|
8207.379 |
6384.766 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
120.137
|
174.115 |
|
|
|
Other Current Liabilities |
4035.115
|
4852.548
|
|
|
|
Provisions |
766.693
|
863.009
|
740.941 |
|
Total
Current Liabilities |
4921.945
|
5889.672 |
3613.886 |
|
|
Net Current Assets |
(566.231)
|
2317.707
|
2770.880 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
LOAN AND OTHER CREDIT FACILITIES |
83124.575 |
111468.829 |
111144.833 |
|
|
|
|
|
|
|
|
TOTAL |
86520.481 |
128149.047 |
130066.395 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income from Operation |
11715.174 |
14668.181 |
14053.527 |
|
|
|
Other Income |
748.672 |
1231.904 |
667.713 |
|
|
|
TOTAL (A) |
12463.846 |
15900.085 |
14721.240 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee Cost |
309.574 |
|
|
|
|
|
Establishment and Other Expenses |
518.837 |
1090.404 |
|
|
|
|
Provision / (Write Back) of Contingencies |
0.000 |
8.880 |
|
|
|
|
Provision and Write off Against Non-Performing Assets |
202.981 |
304.163 |
2787.262 |
|
|
|
Provision Against Standard Assets |
25.257 |
(20.225) |
|
|
|
|
Expenses Recovered |
(181.385) |
(286.624) |
|
|
|
|
TOTAL (B) |
875.264 |
1925.539 |
2787.262 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
11588.582 |
13974.546 |
11933.978 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
8284.445 |
11825.707 |
10087.090 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3304.137 |
2148.839 |
1846.888 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
10.557 |
6.803 |
2.983 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
3293.580 |
2142.036 |
1843.905 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
960.711 |
535.266 |
415.238 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
2332.869 |
1606.770 |
1428.667 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
328.353 |
298.501 |
NA |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
General Reserve |
NA |
0.000 |
NA |
|
|
|
Special Reserve |
NA |
330.000 |
NA |
|
|
|
Dividend |
NA |
1092.660 |
NA |
|
|
|
Proposed Dividend |
NA |
154.258 |
NA |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
328.353 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.12 |
1.46 |
1.30 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
18.72
|
10.10 |
9.70 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
28.11
|
14.60 |
13.12 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
68.50
|
23.07 |
28.61 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25
|
0.17 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.82
|
9.46 |
9.73 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.88
|
1.39 |
1.76 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
|
|
|
|
Total outstanding dues of Micro and Small Enterprises |
0.353 |
4.461 |
NA |
|
Total outstanding dues to creditors other than Micro and Small
Enterprises |
119.784 |
169.654 |
NA |
|
Total |
120.137 |
174.115 |
NA |
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Constitutions of the firm |
Yes |
|
Premises
details |
No |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
Yes |
|
No.
of Employees |
No |
|
Name
of Person Contacted |
No |
|
Designation
of contact person |
No |
|
Turnover
of firm for last three years |
Yes |
|
Profitability
for last three years |
Yes |
|
Reasons
for variation <> 20% |
- |
|
Estimation
for coming financial year |
No |
|
Capital
the business |
Yes |
|
Details
of sister concerns |
Yes |
|
Major
Suppliers |
No |
|
Major
Customers |
No |
|
Payment
Terms |
No |
|
Export
/ Import Details [If Applicable] |
No |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
No |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
Yes |
|
Incorporation
details, if applicable |
Yes |
|
Last
accounts filed at ROC |
Yes |
|
Major
Shareholders, if applicable |
Yes |
INDUSTRY OVERVIEW
The real estate
industry, like most other asset classes has witnessed a consolidation phase during
the last year. Increasing interest rates and challenges in access to funds for
developers is getting most of them to consolidate on existing projects and
timely delivery. The pace of recovery and consolidation has varied across
markets for the
residential,
commercial and retail spaces. Rentals in residential and more so in commercial
sectors are seeing a positive correction in most markets. The Industry is
witnessing a revival of both demand and supply, propped up by the expansion of
Developers and also Housing Finance Companies expanding to smaller ticket size
mass housing segment. This is prominently seen in smaller markets and outskirts
of metros and large cities are witnessing a healthy demand building up.
OPERATIONAL REVIEW
The Company continued
to serve as the focal point for marketing, distribution and servicing of
mortgage products. The Company keenly looks at every step in the value chain of
real estate, as a business opportunity for the Company. This starts as a
property transaction for developers and individuals and culminates when an end
user moves into a property.
In addition, the
Company has raised deposits worth Rs. 4264.4 millions during FY2011. The
Company's Fixed Deposits have received the highest credit ratings of “MAAA” by
ICRA and “CARE AAA (FD)” by CARE.
CONTINGENT LIABILITIES NOT PROVIDED FOR: (AS ON
31.03.2011)
(i) Income Tax
matters in appeal- Rs. 789.025 millions (March 10-Rs. Nil).
(ii) Show cause
notice in respect of Service Tax matters amounting Rs. 7477.614 millions (Mar
10- Rs. Nil)
(iii) The
contingent liability on account of claims filed against the Company not
acknowledged as debt is Rs. 73.187 millions (March 10 Rs. 58.763 Millions). As
per management, the Company has good chances of winning the case accordingly no
provision for any liability has been made in the financial statement.
FORM 8
|
Corporate
identity number of the company |
U65922MH1999PLC120106 |
||||||
|
Name of the
company |
ICICI HOME FINANCE COMPANY LIMITED |
||||||
|
Address of the registered
office or of the principal place of
business in |
E-mail: sreekanth.vn@icicihfc.com |
||||||
|
This form is for |
Modification of
Charge |
||||||
|
Type of charge |
Floating charge |
||||||
|
Charge
identification number of the charge to be modified |
10063486 |
||||||
|
Particular of
charge holder |
|
||||||
|
Nature of
instrument creating charge |
Trust Deed Executed
on 10th August, 2009 |
||||||
|
Date of
instrument Creating the charge |
10.08.2009 |
||||||
|
Amount secured by
the charge |
Rs. 3116.900
Millions |
||||||
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Not Applicable Terms of
Repayment Not Applicable -
Floating charge created on Securities of the Depositors/Investments purchased
by the Company as per the terms of Section - 29B (1) and 29B (2) of the
National Housing Bank Act, 1987 and has appointed IDBI Trusteeship Services
Limited to act as Trustees for the Depositors. Margin Not Applicable Extent and
Operation of the charge The Company has
created floating charge in favour of the Trustees on both present and future securities
purchased by investing the amount specified by the National Housing Bank
(NHB) in terms of Section - 29B (1) and investments made under the provisions
of Section - 29B (2) of the NHB Act from time to time, for the benefit of
Depositors on the revised amount of Securities as per the Trust Deed. Others The trustees may
at any time, by notice in writing to the Company, convert the said floating
charge into a fixed charge and get it registered as legal charge |
||||||
|
Particulars of
the property charged |
Floating charge
on Securities of the Depositors/Investments purchased by the Company as per
the terms of Section - 29B (1) and 29B (2) of the National Housing Bank Act,
1987 for the revised amount. |
||||||
|
Particulars of
the present modification |
By the Trust Deed
executed on 10th August, 2009 the floating charge is created on
Securities/Investments purchased by the Company under the provisions of
Section - 29B (1) and (2) of the NHB Act for the revised amount of
Rs.3116.900 millions and on future securities/investments also from time to
time. |
FIXED ASSETS
- Leasehold Property
- Computer
- Office Equipments
- Furniture
- Software
AS PER WEBSITE DETAILS:
PROFILE
Subject is the Indian mortgage finance and realty
space. Part of the ICICI Group, They have been driving innovation and growth in
this sector. The company's promoter, ICICI Bank Limited is the second largest
bank in the country with 2,009 branches and assets of Rs.3634.000 billions as
on March, 31 2010.
There vision as a growing housing finance
company is to make the dream of owning a new home come true, for millions of
Indians. There range of innovative products, from different type of home loans
to property related services will help meet these dreams.
Business Overview
• Home
Loans
They offer a wide range of Home Loan products,
designed to meet the requirements of there customer base. There strengths lie
in there quick processing and disbursement of loans, minimal documentation,
doorstep customer service and nationwide network.
• Loan
against Property
There wide ranges of Loan against Property
products enable property owners to unlock the wealth in their real estate
assets.
• Fixed
Deposit
ICICI Home Finance Fixed Deposits are safe and
yield maximum returns. There Fixed Deposit product has been granted the credit
rating of AAA by CARE and MAAA by ICRA.
• Retail
Property Services: Home Search
Through 'Home Search', they are changing the
way Indians search for property to buy or lease. Thus making the process of
buying a home even more transparent, reliable and convenient. You are able to
find the home that you were looking for.
• Corporate
Property Services
The property market in
• Structured
Finance Group
Through Structured Finance Group, they play a
role of intermediary and partner for both investors and developers.
• Construction
Finance.
The developer community is one of the key
drivers of real estate growth adapting fast to tap the growing opportunities in
this industry. The Construction Finance Group of ICICI Home Finance is
instrumental in helping developers convert these opportunities to revenue
generating projects.
PRESS RELEASE:
Banks now help you spot that dream home
Sandeep Singh Posted online: Sat May 12
2012, 00:25hrs
The lengthy process of buying your dream home
begins with the most critical aspect — identifying the property and while your
local broker may have been your dependable man to do that till a few years ago,
that is not the case any longer.
Most banks and housing finance companies
(HFCs) now offer property search services giving you an option to deal with an
institution that has benchmarked practices.
Lenders such as HDFC, ICICI Home Finance
Company and Indiabulls Financial Services have property search divisions that
help home buyers identify properties and also organise property visits and help
with legal documentation.
“The benefits that you get while dealing with
an institution is that there is professionalism, transparency and comfort that
you get. Also when you deal with them a lot of the due diligence on the
property has already been done,” says Vishal Dhawan, a Mumbai based financial
planner.
HDFC Realty, ICICI Home Search and IB Home
Finder have dedicated relationship managers who help customers with identifying
a property and completing the transaction.
“There is a dedicated relationship manager who
will help end to end in completing the transaction for property selected and at
the same time arrange home loans at competitive rates. It is a complete
end-to-end home buying solution under one roof, and that separates this value
proposition from one that is offered by a local broker,” said Ashwini Kumar
Hooda, MD, Indiabulls Housing Finance, whose services are limited only to
builder properties.
HDFC Realty and ICICI Home Search offer their
services for both builder and resale properties and while they do not charge a
brokerage fee on builder property (first sale), they do charge a fee on the
resale property.
“In case of builder property we have
arrangement with the builder and in case of resale property we charge a fee
depending on the price of the property which varies between 1 and 2 per cent,”
said an HDFC official.
An official with another housing finance
company said that property search divisions of housing finance companies and
banks mostly focus on builder properties on account of transparency issues. “It
is because in most of the resale properties, a cash component is involved in
the deal whereas in case of builder property there is no such hassle.”
While such property search divisions offer
professional service, experts say that the local brokers still hold an
advantage over these institutions when it comes to providing the number of
options in a particular geography.
“If you are going to purchase a home for your
own use then going to a local broker might be beneficial as they have a deeper
knowledge of properties and a particular geography and the number of options
that they can provide cannot be matched by banks and housing finance companies
offering these services. However if you are going for investment purpose then
you can go to an institution,” says Dhawan.
An official with a housing finance company
says that they too take the services of the local broker for identifying
properties as per customer requirement.
“If banks and HFCs can increase their network
and offerings then for end users it would add significantly,” says Dhawan
adding that it may take some time for banks and HFCs to be able to do that.
Experts also say that customers should look to
go for big brokers or institutions as they are in a better position to offer
good deals on the same property.
“The negotiation power of a big broker with a
builder is more and such brokers are in a position to pass on some benefit of
their higher margins to their customers and hence they should avoid small
brokers,” said an official with an housing finance company.
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. 56.29 |
|
|
1 |
Rs. 88.26 |
|
Euro |
1 |
Rs. 70.82 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
58 |
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.