MIRA
INFORM REPORT
|
Report Date : |
06.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
INSPIRON ENGINEERING PRIVATE LIMITED (w.e.f. 07.03.2007) |
|
|
|
|
Formerly Known
As : |
A.T. E INDUSTRIES PRIVATE LIMITED (w.e.f. 07.03.2003) MOTEX ENGINEERING COMPANY PRIVATE LIMITED |
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|
|
|
Registered
Office : |
Near GIDC Odhav, |
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Country : |
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|
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Financials (as
on) : |
31.03.2012 |
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|
|
|
Date of
Incorporation : |
15.10.1996 |
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|
|
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Com. Reg. No.: |
55-050337 |
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|
|
Capital Investment
/ Paid-up Capital : |
Rs. 9.110 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28920GJ1996PTC050337 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMI00999F AHMM00497A |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer and Exporter of Textile machine and machinery parts |
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|
|
|
No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 710000 |
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|
|
|
Status : |
Satisfactory |
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|
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Payment Behaviour : |
Usually Correct |
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|
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Litigation : |
Clear |
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|
Comments : |
Subject is a well established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to be
usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
Near GIDC Odhav, |
|
Tel. No.: |
91-79 – 30212000/30212061 |
|
Fax No.: |
91-79 – 30212090 |
|
E-Mail : |
DIRECTORS
AS ON 25.05.2012
|
Name : |
Mr. Prakash Krishnalal Bhagwati |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
‘’Vatsalya”, Bhagwati Farms, behind Karnavati Club, |
|
Date of Birth/Age : |
30.08.1946 |
|
Date of Appointment : |
15.10.1996 |
|
Voter ID No.: |
GJ/10/068/048009 |
|
DIN No.: |
00094852 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
L45200GJ1973PLC050790 |
STOVEC
INDUSTRIES LIMITED |
Director |
01/03/2007 |
05/06/1973 |
04/07/2008 |
Active |
NO |
|
2 |
U74999GJ1978PTC050338 |
ERHARDT
+ LEIMER ( |
Director |
28/11/1978 |
28/11/1978 |
- |
Active |
NO |
|
3 |
U51900GJ1980PTC050281 |
SPX
FLOW TECHNOLOGY ( |
Director |
17/02/1989 |
17/02/1989 |
02/01/2009 |
Active |
NO |
|
4 |
U28920GJ1996PTC050337 |
INSPIRON
ENGINEERING PRIVATE LIMITED |
Director |
15/10/1996 |
15/10/1996 |
- |
Active |
NO |
|
5 |
U67120GJ2006PTC047601 |
PRAMOL
TRADERS HOLDINGS PRIVATE LIMITED |
Director |
25/01/2006 |
25/01/2006 |
- |
Active |
NO |
|
Name : |
Mr. Amol Prakash Bhagwati |
|
Designation : |
Managing Director |
|
Address : |
‘’Vatsalya”, Bhagwati Farms, behind Karnavati Club, |
|
Date of Birth/Age : |
05.08.1973 |
|
Date of Appointment : |
11.12.2002 |
|
DIN No.: |
00128350 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U28920GJ1996PTC050337 |
INSPIRON
ENGINEERING PRIVATE LIMITED |
Managing
director |
29/06/2007 |
11/12/2002 |
- |
Active |
NO |
|
2 |
U74999GJ1978PTC050338 |
ERHARDT
+ LEIMER (INDIA) PRIVATE LIMITED |
Director |
09/05/2005 |
09/05/2005 |
- |
Active |
NO |
|
3 |
U67120GJ2006PTC047601 |
PRAMOL
TRADERS HOLDINGS PRIVATE LIMITED |
Director |
25/01/2006 |
25/01/2006 |
- |
Active |
NO |
|
4 |
U51900GJ1980PTC050281 |
SPX
FLOW TECHNOLOGY (INDIA) PRIVATE LIMITED |
Director |
10/10/2006 |
10/10/2006 |
02/01/2009 |
Active |
NO |
|
Name : |
Ms. Radhika Amol Bhagwati |
|
Designation : |
Director |
|
Address : |
‘’Vatsalya”, Bhagwati Farms, behind Karnavati Club, |
|
Date of Birth/Age : |
27.06.1977 |
|
Date of Appointment : |
17.03.2007 |
|
DIN No.: |
01425422 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U28920GJ1996PTC050337 |
INSPIRON
ENGINEERING PRIVATE LIMITED |
Director |
21/07/2007 |
17/03/2007 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 25.05.2012
|
Names of Shareholders |
No. of Shares |
|
Pramol Traders Holdings Private Limited, |
9109999 |
|
Prakash Krishnalal Bhagwati Jointly with Mr. Amol Prakash Bhagwati (as
nominee of Pramol Traders Holdings Private Limited) |
1 |
|
TOTAL
|
9110000 |
AS ON 25.05.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Bodies corporate |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Textile machine and machinery parts |
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Products : |
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PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Stenter Machine |
Nos. |
24 |
21 |
|
Light Aluminium Flyers |
Nos. |
180000 |
69888 |
|
Pressure Die Cast Components |
Nos. |
500000 |
362598 |
|
Dies and Moulds |
Nos. |
-- |
4 |
GENERAL INFORMATION
|
No. of Employees : |
200 (Approximately) |
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Bankers : |
The Karur Vysya
Bank ·
Sakar VII, B Block, Ashram Road Branch, Ashram
Road, Ahmedabad-380014, Gujarat, India ·
“Motilal Centre” Near Vikaram chambers, Ashram Road,
Ahmedabad-380009, Gujarat, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Shah and Shah Associates Chartered Accountants. |
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Address : |
702, Aniket, Near. Municipal Market, Navrangpur, Ahmedabad. Gujarat -
380009 |
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Tel. No.: |
91-79-26465433 |
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Fax No.: |
91-79 – 26406983 |
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E-Mail : |
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PAN No.: |
AAHFS7036F |
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|
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Holding Company : |
Pramol Traders Holdings Private Limited CIN – U67120HJ2006PTC047601 |
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Related Parties : |
Erhardt + Leimer (India) Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
35000000 |
Equity Shares |
Rs.1/- each |
Rs. 35.000 Millions |
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|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9110000 |
Equity Shares |
Rs.1/- each |
Rs. 9.110
Millions |
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|
|
|
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NOTES
|
Name of Shareholders |
As At 31.03.2012 |
|
|
|
No. of Shares Held |
% of Holding |
|
Pramol Traders Holding Private Limited |
9,110,000 |
100% |
During the immediately preceding 5 Financial
years the company has neither issued fully paid-up shares pursuant to Contracts
without payment being received in cash and by way of Bonus Shares nor has
brought back any shares
There are no unpaid calls as at end of the
Financial year in respect of Equity shares issued.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
9.110 |
9.110 |
9.110 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
170.087 |
121.721 |
85.020 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
179.197 |
130.831 |
94.130 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
10.663 |
7.736 |
4.324 |
|
|
2] Unsecured Loans |
28.345 |
46.019 |
68.300 |
|
|
TOTAL BORROWING |
39.008 |
53.755 |
72.624 |
|
|
DEFERRED TAX LIABILITIES |
12.158 |
10.802 |
6.909 |
|
|
|
|
|
|
|
|
TOTAL |
230.363 |
195.388 |
173.663 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
159.748 |
151.710 |
151.196 |
|
|
Capital work-in-progress |
1.503 |
0.000 |
1.121 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
92.833
|
98.154
|
82.093
|
|
|
Sundry Debtors |
44.808
|
60.427
|
38.885
|
|
|
Cash & Bank Balances |
9.256
|
1.725
|
1.774
|
|
|
Other Current Assets |
9.047
|
6.263
|
0.000
|
|
|
Loans & Advances |
15.834
|
14.849
|
17.553
|
|
Total
Current Assets |
171.778
|
181.418 |
140.305 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
59.920
|
83.853
|
84.305
|
|
|
Other Current Liabilities |
37.368
|
47.475
|
26.823
|
|
|
Provisions |
5.378
|
6.412
|
7.831
|
|
Total
Current Liabilities |
102.666
|
137.740 |
118.959 |
|
|
Net Current Assets |
69.112
|
43.678
|
21.346
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
230.363 |
195.388 |
173.663 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
596.396 (Gross Income) |
|
|
|
|
|
Other Income |
NA |
|
|
|
|
|
TOTAL (A) |
NA |
618.646 |
399.855 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
NA |
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
NA |
542.399 |
371.565 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
90.112 |
76.247 |
28.290 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.509 |
6.530 |
5.997 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
85.603 |
69.717 |
22.293 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
13.961 |
13.898 |
13.889 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
71.642 |
55.819 |
8.404 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
23.276 |
19.118 |
2.018 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
48.366 |
36.701 |
6.386 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
94.162 |
57.461 |
51.075 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
142.528 |
94.162 |
57.461 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
316.873 |
228.787 |
129.165 |
|
|
|
Design Service |
10.066 |
4.691 |
6.621 |
|
|
TOTAL EARNINGS |
326.939 |
233.478 |
135.786 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
20.901 |
29.816 |
21.858 |
|
|
|
Stores & Spares |
1.579 |
2.419 |
0.330 |
|
|
|
Plant and Machinery |
10.971 |
5.681 |
0.958 |
|
|
TOTAL IMPORTS |
33.451 |
37.916 |
23.146 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
4.03 |
0.70 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
5.93
|
1.60
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
21.61
|
16.76
|
2.88
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.40
|
0.43
|
0.09
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.86
|
1.55
|
2.04
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.67
|
1.32
|
1.18
|
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
No |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
Yes |
|
34] |
External Agency Rating,
if available |
No |
NOTE
Registered office has been shifted from Survey No.320, Odhav Road,
Ahmedabad-382415, Gujarat, India to the present address w.e.f. 01.04.2007
OPERATIONS
During the year the Company has registered the total income from sales
and service Rs. 596.396 Millions as compared to previous year total income of
Rs. 626.142 Millions. The Company has made profit before tax of Rs. 71.642
Millions compared to previous year Rs. 55.819 Millions. Despite decrease in
total income in profit is achieved by better product mix and by effective cost
control of fixed and variable expenses.
FUTURE OUTLOOK
With revival of Textile processing industry in certain part of the
country, Company is expecting improvement in Stenter machine business. Company
has comfortable order book position for flyers. Company plans to put special
efforts to increase Precision Engineered Components business during the coming
period.
CONTINGENT
LIABILITY NOT PROVIDED FOR IN RESPECT OF:
a)
Guarantee given by bank to third parties on behalf
of the company for which counter guarantees have been given by the company Rs.
1.200 Millions (Previous year Rs. Nil)
b)
Disputed Employee State Insurance Contribution
liability Rs. 0.155 Million (Previous year Rs. Nil)
c)
Back wages and reinstatement demand made by certain
dismissed contract workers – pending adjudication Rs. 1.668 Millions (Previous year
Rs. 1.430 Millions.)
d)
Disputed liability for excise duty and penalty
thereon aggregating to Rs. 3.377 Millions (Previous year Rs. 3.377 Millions)
e)
Disputed income tax liability for:
Assessment year 2005-06: Rs. 3.463 Millions (Previous year Rs. 3.463
Millions)
Assessment year 2006-07: Rs. 1.308 Millions (Previous year Rs. 1.308
Millions)
FORM 8
|
This form is for |
Modification of
charge |
||||||
|
Charge
identification number of the modified |
90159263 |
||||||
|
Corporate identity
number of the company |
U28920GJ1996PTC050337 |
||||||
|
Name of the
company |
InspirOn
Engineering Private Limited |
||||||
|
Address of the
registered office or of the principal place of business in |
Near GIDC Odhav, |
||||||
|
Type of charge |
Book Debts Movable Property Others |
||||||
|
Particular of
charge holder |
KARUR VYSYA BANK
LIMITED. SAKAR VII, B BLOCK ASHRAM ROAD.
AHMEDABAD Gujarat-380009 ahmedabad@kvbmail.com |
||||||
|
Nature of description
of the instrument creating or modifying the charge |
Agreement for
credit facilities dt. 12.06.09 |
||||||
|
Date of
instrument Creating the charge |
12.06.2009 |
||||||
|
Amount secured by
the charge |
Rs. 72.500
Millions |
||||||
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest –
Credit Equivalent
Limits (Purchase and Sale Contracts) BPLR +4 subject to the minimum of 18%p.a
Rate of Interest subject to modification from time to time. Terms of Repayment – Nature of limit Terms of
repayment CC / PCL / FBN /
FBP / ILC / BG Credit Equivalent Limit (Purchase and Sale Contracts): The
limits are renewable on yearly basis upon request of the company. Margin – Nature of
limit Margin For CC 25% on stock,50% on
Book Debts For PCL 25% on stock,50% on
Book Debts FBN/FBP/ILC/FLC/BG 10% Extent and Operation of the charge – All the
securities as described here in below in Col. No. 14 have been charged to the
Bank to secure its 1)
OCC/PCL/FBN/P Rs. 47.500
millions 2) ILC/FLC
(sight) Rs. 50.00
millions 2) BG Rs. 15.000
millions 3) Credit
equivalent limit Rs.3.750 millions (for forward purchase contracts) 4) Credit
equivalent limit Rs. 1.250 millions
(for forward sales contracts)
-------------------
Rs. 72.500 millions Others – Each PCL not to
outstand beyond 180 days, with running account facility, FBN/P – DP/DA maximum usance 120 days,
OCC/PCL/FBN/P: Rs.47.500 millions limit interchangeability with a cap for PCL
at Rs.35.000 millions and with a cap for FBN/P at Rs.22.500 millions (However for calculation of DP purpose
full paid stock (Excluding creditors, LC) of raw-material, stock in process
and finished goods meant for domestic sales (25% margin) and book debts of
age not older than 90 days excluding the BD of sister concerns) |
||||||
|
Short particulars
of the property charged |
Hypothecation raw
materials, WIP, Finished goods, Book debts, other current assets, plant and machinery all "existing and
future given as collateral security
for the credit facilities sanctioned / to be sanctioned and which has / have
been fixed or lying loose in the premises at Survey No.320, Odhav, Ahmedabad
and all the machinery /machineries brought in as substitution for the
existing once and which may from time to time be replaced |
||||||
|
Date of latest
modification prior to the present modification |
06.09.2008 |
||||||
|
Particulars of
the present modification |
By Virtue of said
modification, the charge originally created on 19-02-2005 and subsequently
modified from time to time, now extended
for additional limit of (1) Credit equivalent limit (purchase contracts) of
Rs.3.750 millions and Credit equivalent limit (sales contracts) of Rs. 1.250
millions. This charge now stands further extended for aggregate limit of Rs.
72.500 millions |
FIXED ASSETS
·
Freehold land
·
Buildings
·
Plants and Machinery
·
Electrical installations and Fittings
·
Furniture and fixture
·
Office Equipments
·
Computers and software
·
Vehicles
·
Technical Know-how fees
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. 54.07 |
|
|
1 |
Rs. 86.68 |
|
Euro |
1 |
Rs. 69.36 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
48 |
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.