MIRA
INFORM REPORT
|
Report Date : |
07.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
JAICO AUTOMOBILE ENGG CO PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
9/10, Doddanakundi Industrial Area, IInd Stage, Mahadevapura
Post, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
02.09.1978 |
|
|
|
|
Com. Reg. No.: |
08-003364 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.63.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34100KA1978PTC003364 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Automobile Bodies (Engineering
Activity) |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (12) |
|
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 : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. The
management have failed to file its financial details for the year 2010-2011,
2011-2012 with the government department. However, from the previous year
record there appears huge accumulated losses recorded by the company. However, trade relations are reported to be fair. Business is active.
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.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
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
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed legislative
work. India's medium-term growth outlook is positive due to a young population
and corresponding low dependency ratio, healthy savings and investment rates,
and increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
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 : |
9/10, Doddanakundi Industrial Area, IInd Stage,
Mahadevapura Post, Bangalore – 560048, Karnataka, India |
|
Tel. No.: |
91-80-28524287 / 28524330 |
|
Fax No.: |
91-80-28524302 / 41480799 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 27.09.2010
|
Name : |
Mr. Charanjeet Singh Chadha |
|
Designation : |
Director |
|
Address : |
127, 4th Main, Defence Colony Bangalore - 560 038,
Karnataka, India |
|
Date of Birth/Age : |
31.08.1960 |
|
Date of Appointment : |
10.08.1985 |
|
DIN No.: |
00151726 |
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 |
U50101RJ1980PTC002023 |
AZAD
COACH BUILDERS PRIVATE LIMITED |
Director |
25/08/1983 |
25/08/1983 |
- |
Active |
NO |
|
2 |
U34100KA1978PTC003364 |
JAICO
AUTOMOBILE ENGG CO PRIVATE LIMITED |
Director |
10/08/1985 |
10/08/1985 |
- |
Active |
NO |
|
3 |
U55101RJ1982PTC002538 |
JEWELS
(INDIA) HOTELS PRIVATE LIMITED |
Director |
10/01/1992 |
10/01/1992 |
- |
Active |
NO |
|
4 |
U50101RJ1994PTC008045 |
AZAD
COACH PRIVATE LIMITED |
Director |
01/04/2003 |
01/04/2003 |
25/09/2010 |
Active |
NO |
|
5 |
U92411RJ1989PTC004823 |
AZAD
BODY BUILDERS P LTD |
Director |
01/04/2003 |
01/04/2003 |
25/09/2010 |
Active |
NO |
|
6 |
U55209DL2008PTC184877 |
JEWELS
HOSPITALITY PRIVATE LIMITED |
Director |
14/11/2008 |
14/11/2008 |
- |
Active |
NO |
|
Name : |
Mr. Bupinder Singh Chadha |
|
Designation : |
Managing Director |
|
Address : |
01.10.1948 |
|
Date of Birth/Age : |
127, 4th Main, Defence Colony Bangalore - 560 038,
Karnataka, India |
|
Date of Appointment : |
10.08.1985 |
|
DIN No.: |
00151568 |
|
|
|
|
Name : |
Mr. Trilochan Singh Chadha |
|
Designation : |
Director |
|
Address : |
127, 4th Main, Defence Colony Bangalore - 560 038,
Karnataka, India |
|
Date of Birth/Age : |
04.07.1963 |
|
Date of Appointment : |
10.01.1992 |
|
DIN No.: |
00151392 |
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 |
U34100KA1978PTC003364 |
JAICO
AUTOMOBILE ENGG CO PRIVATE LIMITED |
Director |
10/01/1992 |
10/01/1992 |
- |
Active |
NO |
|
2 |
U50101RJ1980PTC002023 |
AZAD
COACH BUILDERS PRIVATE LIMITED |
Director |
10/01/1992 |
10/01/1992 |
- |
Active |
NO |
|
3 |
U55101RJ1982PTC002538 |
JEWELS
(INDIA) HOTELS PRIVATE LIMITED |
Director |
06/09/2003 |
06/09/2003 |
- |
Active |
NO |
|
4 |
U50404KA2004PTC033588 |
AZAD
AUTOMOTIVE SERVICES PRIVATE LIMITED |
Additional
director |
28/07/2010 |
28/07/2010 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Bupinder Singh Chadha, 127, 4th Main, Defence Colony Bangalore - 560 038, Karnataka, India |
|
214650 |
|
Charanjeet Singh Chadha, 127, 4th Main, Defence Colony Bangalore - 560 038, Karnataka, India |
|
203350 |
|
Trilochan Singh Chadha, 127, 4th Main, Defence Colony Bangalore - 560 038, Karnataka, India |
|
112875 |
|
Navpreet Chadha, 127, 4th Main, Defence Colony Bangalore - 560 038, Karnataka, India |
|
875 |
|
Jewels India Hotels Private Limited, 28, M. G. Road,
Bangalore – 560001, Karnataka, India |
|
15750 |
|
Jatinder Chadha, 127, 4th Main, 6th Cross,
Defence Colony Bangalore - 560 038, Karnataka, India |
|
87500 |
|
Total |
|
635000 |
Equity Share Break up (Percentage of Total Equity)
As on 27.09.2010
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
4.00 |
|
Directors or relatives of directors |
|
96.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Automobile Bodies (Engineering
Activity) |
PRODUCTION STATUS
As on 31.03.2010
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity * |
Actual
Production |
|
|
|
|
|
|
|
Bus Bodies |
Qty |
NA |
NA |
36 |
|
|
|
|
|
|
Note:
* It is not possible to ascertain as
the job order
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
State Bank of India, Commercial branch, Rajaji
Nagar, Bangalore – 560044, Karnataka, India ·
State Bank of India, SAMG Branch, 4th Floor,
Residency Plaza, Residency Road, Bangalore - 560025, Karnataka, India |
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
P. Chandrasekar Chartered Accountants |
|
Address : |
S-616 Manipal Centre, #47, Dikenson Road, Bangalore – 560042, Karnataka, India |
|
Tel. No.: |
91-80-25585443 |
|
Fax No.: |
91-80-25597494 |
|
E-Mail : |
|
|
PAN No.: |
AABFP1536H |
|
|
|
|
Related Parties : |
·
Azad Coach Builders Private Limited ·
Jewels India Hotels India Private Limited ·
Azad Body Builders Private Limited, Jaipur. ·
Azad Coach Private Limited, Delhi ·
Azad Impex ·
Azad Automotive Service Private Limited ·
Azad Alpha Special Purpose Vehicles Private
Limited ·
Saion Real Estate Private Limited |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1100000 |
Equity Shares |
Rs.100/- each |
Rs.110.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
635000 |
Equity Shares |
Rs.100/- each |
Rs.63.500
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
63.500 |
63.500 |
63.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(180.484) |
(18.922) |
80.654 |
|
|
NETWORTH |
(116.984) |
44.578 |
144.154 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
142.470 |
129.422 |
106.207 |
|
|
2] Unsecured Loans |
369.118 |
349.337 |
350.798 |
|
|
TOTAL BORROWING |
511.588 |
478.759 |
457.005 |
|
|
DEFERRED TAX LIABILITIES |
4.311 |
5.707 |
6.235 |
|
|
|
|
|
|
|
|
TOTAL |
398.915 |
529.044 |
607.394 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
90.650 |
97.312 |
104.746 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
165.110 |
159.110 |
87.715 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
8.847
|
53.420 |
102.332 |
|
|
Sundry Debtors |
42.157
|
97.925 |
121.639 |
|
|
Cash & Bank Balances |
6.080
|
15.415 |
27.226 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
155.900
|
194.632 |
283.829 |
|
Total
Current Assets |
212.984
|
361.392 |
535.026 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
61.647
|
71.191 |
98.168 |
|
|
Other Current Liabilities |
8.182
|
17.579 |
21.925 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
69.829
|
88.770 |
120.093 |
|
|
Net Current Assets |
143.155
|
272.622 |
414.933 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
398.915 |
529.044 |
607.394 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
30.738 |
121.462 |
462.844 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
187.329 |
213.626 |
476.516 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(156.591) |
(92.164) |
(13.672) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
6.366 |
7.573 |
8.451 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
(162.957) |
(99.737) |
(22.123 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(1.395) |
(0.161) |
(2.532) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(161.562) |
(99.576) |
(19.591) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(31.649) |
67.927 |
87.518 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(193.211) |
(31.649) |
67.927 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
0.000 |
0.000 |
1.578 |
|
|
TOTAL EARNINGS |
0.000 |
0.000 |
1.578 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Stores & Spares |
0.316 |
6.850 |
7.285 |
|
|
TOTAL IMPORTS |
0.316 |
6.850 |
7.285 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(254.43) |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
(525.61) |
(81.98) |
(4.23) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(53.67) |
(21.74) |
(3.46) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
1.39 |
(2.24) |
(0.15) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
(4.97) |
12.73 |
4.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.05 |
4.07 |
4.46 |
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 |
No |
|
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 |
Yes |
|
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) |
No |
|
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 |
No |
|
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 |
No |
|
34] |
External Agency Rating, if available |
No |
BUSINESS PERFORMANCE:
During the year, the company recorded decline in sales 74.69% to Rs. 30.737 Millions from Rs.121.462 Millions in the previous year. Due to high administration charges all this has resulted in pressure on operating margins. The Margin would continue to remain depressed due to competitiveness and globally recession in the Market. The company recorded loss of Rs.161.562 Millions after providing the depreciation of Rs.6.366 Millions during the year.
DOMESTIC MARKET:
On the Domestic front, the company are developing new model to suit the requirement of private operator and some of special purpose vehicle for medical services. The new model is in construction, the directors are hopeful to shift the factory in next financial year having bigger space
FUTURE PROSPECT:
ASHOK LEYLAND LIMITED, and EICHER MOTORS LIMITED, has agreed to increase our market share in their export of PASSENGER BUS business substantially. It is going to further supplement good results in the coming years.
Considering these initiatives and steps, the Director expects improve the performance of the company for the next financial year.
FIXED ASSETS
DETAILS
(Rs.
In Millions)
|
Particulars |
As at 31.03.2010 |
As at 31.03.2009 |
||||||
|
|
Gross
Block |
Rate
of Depreciation % |
Depreciation |
Net
Block |
Gross
Block |
Rate
of Deprecation % |
Depreciation |
Net
Block |
|
Land |
32.339 |
-- |
-- |
32.339 |
32.339 |
-- |
-- |
32.339 |
|
Building |
57.002 |
10.00 |
31.536 |
25.466 |
57.002 |
10.00 |
28.706 |
28.295 |
|
Plant and Machinery |
22.172 |
13.91 |
16.771 |
5.401 |
22.167 |
13.91 |
15.889 |
6.269 |
|
Furniture and Fixture |
4.326 |
13.91 |
2.474 |
1.852 |
4.326 |
13.91 |
2.175 |
2.151 |
|
Tools and Equipments |
5.614 |
13.91 |
4.134 |
1.480 |
5.614 |
13.91 |
3.895 |
1.719 |
|
BoreweII |
0.206 |
13.91 |
0.180 |
0.026 |
0.206 |
13.91 |
0.175 |
0.031 |
|
Electrical Fittings |
2.240 |
13.91 |
1.544 |
0.696 |
2.240 |
13.91 |
1.432 |
0.808 |
|
Safety Equipments |
0.018 |
13.91 |
0.018 |
0.001 |
0.018 |
13.91 |
0.017 |
0.001 |
|
Electronic Typewriter |
0.018 |
13.91 |
0.018 |
0.001 |
0.018 |
13.91 |
0.017 |
0.001 |
|
Weighing Scale |
0.044 |
13.91 |
0.036 |
0.009 |
0.044 |
13.91 |
0.034 |
0.010 |
|
Office Equipments |
1.482 |
13.91 |
1.041 |
0.441 |
1.482 |
13.91 |
0.970 |
0.512 |
|
Car |
13.528 |
25.89 |
10.753 |
2.774 |
14.708 |
25.89 |
10.767 |
3.941 |
|
Scooter |
0.484 |
25.89 |
0.407 |
0.077 |
0.484 |
25.89 |
0.380 |
0.104 |
|
DG Sets |
1.207 |
13.91 |
1.084 |
0.123 |
1.207 |
13.91 |
1.085 |
0.142 |
|
Computers |
2.236 |
13.91 |
1.263 |
0.972 |
2.236 |
13.91 |
1.106 |
1.130 |
|
Work in progress building |
13.851 |
-- |
-- |
13.851 |
13.851 |
-- |
-- |
13.851 |
|
Jigs and Fixtures |
6.992 |
13.91 |
4.282 |
2.710 |
6.992 |
13.91 |
3.844 |
3.148 |
|
Motor Vehicle |
3.395 |
25.89 |
2.463 |
0.931 |
3.678 |
25.89 |
2.318 |
1.360 |
|
Machinery Equipments costing Rs.0.500 Million |
0.454 |
100.00 |
0.454 |
-- |
0.454 |
100.00 |
0.454 |
0 |
|
Car Imported |
1.500 |
-- |
-- |
1.500 |
1.500 |
-- |
-- |
1.500 |
|
TOTAL |
169.107 |
|
78.458 |
90.650 |
170.566 |
|
73.264 |
97.312 |
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.54.60 |
|
|
1 |
Rs.87.31 |
|
Euro |
1 |
Rs.69.86 |
INFORMATION DETAILS
|
Report Prepared
by : |
BSN |
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 |
1 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--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.