MIRA
INFORM REPORT
|
Report Date : |
08.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
ADITYA BIRLA RETAIL LIMITED |
|
|
|
|
Registered
Office : |
Skyline Icon, 86/92, 5th and 6th Floor, Near Mittal,
Industrial Estate, Andheri Kurla Road, Andheri (East), Mumbai – 400059,
Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
14.07.1988 |
|
|
|
|
Com. Reg. No.: |
11-48117 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs.1225.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U65990MH1988PLC048117 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA28583C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACP2678Q |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Chain of Departmental Stores. |
|
|
|
|
No. of
Employees: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of Aditya Birla Group. It is an established company
having moderate track. There appears to be huge accumulated losses recorded
by the company. However, trade relations are reported as fair. Business is
active. Payments are reported to be slow but correct. In view of strong holding, 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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
BBB (Long Term Bank facilities) |
|
Rating Explanation |
Having moderate degree of safety regarding
timely servicing of financial obligation it carry moderate credit risk. |
|
Date |
September 2012 |
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 : |
Skyline Icon, 86/92, 5th and 6th Floor, Near
Mittal, Industrial Estate, Andheri Kurla Road, Andheri (East), Mumbai –
400059, Maharashtra, India |
|
Tel. No.: |
91-8652-9055555 |
|
Fax No.: |
91-8652-906200 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 11.07.2011
|
Name : |
Mr. Gopi Krishna Tulsian |
|
Designation : |
Director |
|
Address : |
32 Peacock Palace, |
|
Date of Birth/Age : |
02.02.1937 |
|
Qualification : |
CA |
|
Date of Appointment : |
12.03.2008 |
|
Din No.: |
00017786 |
|
|
|
|
Name : |
Mr. Girish Mohanlal Dave |
|
Designation : |
Director |
|
Address : |
Dave and Girish and Company, Advocates, 1st
Floor, Sethna Building, 55 Maharshi Karve Road, Marine Lines, Mumbai –
400002, Maharashtra, India |
|
Date of Birth/Age : |
12.07.1938 |
|
Qualification : |
LLB |
|
Date of Appointment : |
12.03.2008 |
|
Din No.: |
00036455 |
|
Voter ID No.: |
MT/08/039/0022008 |
|
|
|
|
Name : |
Mr. Kamlesh Shivji Vikamsey |
|
Designation : |
Director |
|
Address : |
194, Kalpataru Habitat, Tower – A, Dr. S S Road, Parel,
Mumbai – 400012, Maharashtra, India |
|
Date of Birth/Age : |
06.12.1960 |
|
Date of Appointment : |
22.04.2008 |
|
Din No.: |
00059620 |
|
|
|
|
Name : |
Mr. Thomas Varghese |
|
Designation : |
Director and Manger |
|
Address : |
Flat No. 502, Park Lane Apartments, |
|
Date of Birth/Age : |
03.03.1961 |
|
Qualification : |
IIT, |
|
Date of Appointment : |
01.08.2008 |
|
Din No.: |
02263496 |
|
|
|
|
Name : |
Mr. Pranab Barua |
|
Designation : |
Director |
|
Address : |
D-1, Cedar Crest, 258, 10th Main, Defence
colony, Indira Nagar, |
|
Date of Birth/Age : |
21.09.1952 |
|
Date of Appointment : |
01.02.2009 |
|
Din No.: |
00230152 |
KEY EXECUTIVES
|
Name : |
Mr. Thomas Varghese |
|
Designation : |
Manager |
|
Address : |
Flat No. 502, Park Lane Apartments, |
|
Date of Birth/Age : |
03.03.1961 |
|
Qualification : |
IIT, |
|
Date of Appointment : |
01.08.2008 |
|
Pan No.: |
AACPV4925D |
|
|
|
|
Name : |
Mr. Sushil Kumar Agarwal |
|
Designation : |
Secretary |
|
Address : |
Flat No.301, Harmony Siddheshwar Gardnes, |
|
Date of Birth/Age : |
29.08.1970 |
|
Date of Appointment : |
01.12.20110 |
|
Pan No.: |
ACXPA5624K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 11.07.2011
|
Names of Shareholders |
|
No. of Shares |
|
Kanishtha Finance and Investment Private Limited, |
|
122499930 |
|
G K Tulsian and Kanishtha Finance and Investment Private Limited, |
|
10 |
|
Sushil Ganesham Agarwal and Kanishtha Finance and Investment Private
Limited, |
|
10 |
|
Suresh Pitale and Kanishtha Finance and Investment Private Limited, |
|
10 |
|
Anil Chirania and Kanishtha Finance and Investment Private Limited, |
|
10 |
|
Omprakash Jajodia and Kanishtha Finance and Investment Private
Limited, |
|
10 |
|
Vivek Pendharkar and Kanishtha Finance and Investment Private Limited,
|
|
10 |
|
Nitin Madhura and Kanishtha Finance and Investment Private Limited, |
|
10 |
|
TOTAL |
|
122500000 |
As on 11.07.2011
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Chain of Departmental Stores. |
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Product: |
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GENERAL INFORMATION
|
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No. of Employees : |
Not Available |
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|
Bankers : |
·
IDBI Trusteeship Services Limited, Asian
Building, Ground Floor, 17, R. Kamani Marg, Ballard Estate, Mumbai – 400001,
Maharashtra, India ·
The Federal Bank Limited, Corporate Branch, I
Floor, Rajabhadur, Mansion, 32, Bombay Samachar Marg, Fort, Mumbai – 400001,
Maharashtra, India ·
Sydicate Bank Limited, Large Street, Fort, Mumbai
– 400023, ·
Industrial Development Bank of ·
State Bank of |
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|
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|
Facilities : |
Rs.
In Millions
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
12, Dr. |
|
Pan No.: |
AADFD2337G |
|
|
|
|
Holding Company : |
·
Kanishtha Finance and Investment Private Limited
CIN No.: U65990MH1988PTC48498 |
|
|
|
|
Subsidiaries : |
·
Trinethra Superretail Private Limited CIN No.:
U52520AP1990PTC011172 ·
H A S Two Holdings Private Limited
(Subsidiary Company of Trinethra Superretail Private Limited ) CIN No.:
U64202KA1999PTC025649 ·
Terrafirma Agroprocessing ( CIN No.:
U15499AP2005PTC047082 ·
Fabmall ( CIN No.:
U18101KA2002PTC031385 |
CAPITAL STRUCTURE
As on 11.07.2011
Authorised Capital : Rs. 3500.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.2225.000
Millions
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000000 |
Equity Shares |
Rs.10/- each |
Rs.1500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
122500000 |
Equity Shares |
Rs.10/- each |
Rs.1225.000 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 |
1225.000 |
1225.000 |
1000.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(19747.500) |
(15516.500) |
(10105.000) |
|
|
NETWORTH |
(18522.500) |
(14291.500) |
(9105.000) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
6649.600 |
9316.400 |
6160.100 |
|
|
2] Unsecured Loans |
24484.000 |
18799.900 |
14698.500 |
|
|
TOTAL BORROWING |
31133.600 |
28116.300 |
20858.600 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
Equity Share Warrants |
945.500 |
871.100 |
700.200 |
|
|
|
|
|
|
|
|
TOTAL |
13556.600 |
14695.900 |
12453.800 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1060.000 |
1429.300 |
1628.000 |
|
|
Capital work-in-progress |
238.800 |
223.200 |
354.900 |
|
|
|
|
|
|
|
|
INVESTMENT |
10580.100 |
12425.000 |
9796.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
848.300
|
628.700
|
605.200
|
|
|
Sundry Debtors |
93.100
|
85.200
|
55.700
|
|
|
Cash & Bank Balances |
1238.500
|
359.700
|
513.800
|
|
|
Other Current Assets |
32.700
|
28.500
|
13.700
|
|
|
Loans & Advances |
1433.500
|
1253.900
|
1142.000
|
|
Total
Current Assets |
3646.100
|
2356.000 |
2330.400 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
656.800
|
542.100
|
523.800
|
|
|
Other Current Liabilities |
1269.600
|
1158.300
|
1089.200
|
|
|
Provisions |
42.000
|
37.200
|
42.500
|
|
Total
Current Liabilities |
1968.400
|
1737.600 |
1655.500 |
|
|
Net Current Assets |
1677.700
|
618.400
|
674.900
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
13556.600 |
14695.900 |
12453.800 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
6879.300 |
6049.100 |
4655.300 |
|
|
|
Other Income |
566.100 |
324.500 |
147.700 |
|
|
|
TOTAL (A) |
7445.400 |
6373.6 |
4803.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
6178.400 |
|
|
|
|
|
Manufacturing service costs |
0.000 |
0.000 |
|
|
|
|
Employee related expenses |
1437.900 |
1746.600 |
|
|
|
|
Administrative selling other expenses |
1973.600 |
2591.700 |
|
|
|
|
TOTAL (B) |
9589.900 |
9710.800 |
9746.500 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(2144.500) |
(3337.200) |
(4943.500) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1601.200 |
1568.000 |
873.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(3745.700) |
(4905.200) |
(5816.600) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
485.300 |
506.300 |
479.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT (LOSS)
BEFORE TAX (E-F) (G) |
(4231.000) |
(5411.500) |
(6295.900) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
18.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT (LOSS)
AFTER TAX (G-H) (I) |
(4231.000) |
(5411.500) |
(6314.400) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(15516.500) |
(10105.000) |
(3790.600) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(19747.500) |
(15516.500) |
(10105.000) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
7.500 |
29.000 |
113.800 |
|
|
|
Trade Goods |
81.700 |
30.800 |
9.100 |
|
|
TOTAL IMPORTS |
89.200 |
59.800 |
122.900 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(34.54) |
(54.05) |
(72.94) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(56.83) |
(84.90)
|
(131.47) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(50.52) |
(89.46)
|
(135.24) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(89.90) |
(142.96)
|
(159.05) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.23) |
(0.38)
|
(0.69) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
(1.79) |
2.09
|
2.47 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.85 |
1.36
|
1.41 |
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Constitution
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 |
Yes |
|
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 |
|
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
PAN
of Proprietor/Partner/Director, if available |
No |
|
Voter
ID No of Proprietor/Partner/Director, if available |
Yes |
|
External Agency
Rating, if available |
Yes |
Notes: The registered office of the company has been
shifted from “More Centre”,
BUSINESS
PERFORMANCE:
No of Hypermarkets launched: 3; Total No of Supermarkets: 143;
Hypermarkets: 8 covering 8.35 lacs sq. feet of retail space. No of Supermarkets
by its subsidairy co, Trinethra Superretail Private Limited 406; Hypermarket: 1 covering an area of 9.67
lacs sq feet. Cities and States covered across
FORM 8
|
Corporate
identity number of the company |
U65990MH1988PLC048117 |
|
Name of the
company |
ADITYA
BIRLA RETAIL LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Skyline Icon, 86/92, 5th and 6th Floor, Near
Mittal, Industrial Estate, Andheri Kurla Road, Andheri (East), Mumbai –
400059, Maharashtra, India |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be
modified |
10151657 |
|
Type of charge |
Book debts Movable property (not being pledge) Others |
|
Particular of
charge holder |
IDBI Trusteeship Services Limited, Asian Building, Ground Floor, 17,
R. Kamani Marg, Ballard Estate, Mumbai – 400001, Maharashtra, India |
|
Nature of
instrument creating charge |
IDBI
Trusteeship Services Limited vide letters no:1807/ITSL/OPR/2012-13 &
1808/ITSL/OPR/2012-13; dated: June 8, 2012 |
|
Date of
instrument Creating the charge |
08.06.2012 |
|
Amount secured by
the charge |
Rs.6250.000 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest As per Original Deed of Hyp.and Security Trustee Agreement
executed with IDBI Security Trusteeship Services Ltd on
28-3-2009&Reg.ChargeIDNo:10151657;dt:23/04/2009 and modified on
22/03/2012. Term
of Payment: As per the Original Deed of Hypothecation and Security
Trustee Agreement executed with IDBI Security Trusteeship Services Limited on
March 28, 2009 and Registered ChargeIDNo:10151657;dt:23/04/2009 and including
modification of charge dated:22/03/2012 Margin As per the Original Deed of Hypothecation and Security Trustee
Agreement executed with IDBI Security Trusteeship Services Limited on March
28, 2009 and Registered ChargeIDNo:10151657;dt:23/04/2009 and including
modification of charge dated:22/03/2012 Extent and
operation of the charge As per the Original Deed of Hypothecation
and Security Trustee Agreement executed with IDBI Security Trusteeship
Services Limited on March 28, 2009 and Registered
ChargeIDNo:10151657;dt:23/04/2009 and including modification of charge
dated:22/03/2012 Others: As
per the Original Deed of Hypothecation and Security Trustee Agreement
executed with IDBI Security Trusteeship Services Limited on March 28, 2009
and Registered ChargeIDNo:10151657;dt:23/04/2009 and including modification
of charge dated:22/03/2012 |
|
Short particulars
of the property charged (Including location of the property) |
As
per the Original Deed of Hypothecation
and Security Trustee Agreement executed with IDBI Security Trusteeship
Services Limited on March 28, 2009 and including modification of charge
dated:22/03/12 As
per the Charge created infavour of IDBI Trustee and registered vide ID
No:10151657; dt:23/04/2009 and including modification of charge
dated:22/03/2012 |
|
Date of last modification prior to the present modification |
22.03.20112 |
|
Particulars of the present modification |
IDBI
Trusteeship Services Limited vide letters no:1807/ITSL/OPR/2012-13
and1808/ITSL/OPR/2012-13, hereby confirm that in view of the (i) working
capital facilities of Rs 420.000 Millions not being renewed by Citi Bank N.A
and (ii).working capital facilities of Rs 500.000 Millions not being renewed
by Union Bank of India, total credit facilities secured to IDBI Trustee were
reduced to Rs 6250.000 Millions. |
CONTINGENT LIABILITY
a) The Company has given collateral Security
of Rs.300.000 Millions. (Previous year: Rs.550.000 Millions)to Banks for loans
taken by Trinethra Supertetall Private Limited (TSPL) (Subsidiary Company).
(Rs. in
millions)
|
Bank Name |
Nature of Security Provided |
2010-11 |
|
Axis Bank Limited |
Letter of Undertaking |
181.100 |
|
HDFC Bank Limited |
Letter of comfort |
42.600 |
Further, the Company has iren an undertaking, not
to dispose of its investment in the Subsidiary during the peudency of the
credit fai1ity.
b) Premium on redemption of 1% Optionally Convertible Bonds (Refer note
3 below): Rs Nil (Previous year: 4020.200 Millions).
c) Custom duty against import of capital goods, which may arise if the
obligation for exports is not fulfilled is Rs. 90.900 Millions (Previous year:
Rs. 90.900 Millions)
d) Disputed dues towards leased property to the extent of Rs.102.700
Millions (Previous year : Rs. 102.700 Millions)
e) Liabilities towards certain leased properties to the extent of Rs.
05.600 Millions (Previous year : Rs. 05.400 Millions)
f) Other claims against the Company not acknowledged as debts (to the
extent quantifiable) Rs. 0.36 Millions (Previous year : Rs 4.400 Millions)
g) Estimated amounts of contracts remaining to be executed on Capital
Account (net of advances) and not provided for Rs. 81.300 Millions (Previous
year: Rs. 21.100 Millions)
FIXED ASSETS:
·
Leasehold Improvements
·
Furniture and Fixtures
·
Vehicles
·
Plant and Machinery
·
Software
PRESS RELEASE
Mumbai: Aditya Birla Nuvo Limited (ABNL), a unit of the $28 billion
(Rs.1.5 trillion) Aditya Birla Group, will acquire a majority stake in the
Pantaloons retail chain of debt-laden Pantaloon Retail (
The proposed transaction, which will help the Future Group’s PRIL pare
debt, is likely to be completed within 8-10 months, subject to the scheme of
arrangement being finalized, due diligence, and statutory and other approvals,
ABNL said in a statement.
Future Group founder Kishore Biyani has been looking to reduce debt
that’s been accumulated by rapid expansion as PRIL has sought to build scale
rapidly. Meanwhile, the intense political opposition to foreign direct
investment in multi-brand retail has meant that any plans of selling stakes to
overseas retail companies had to be shelved
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.54.25 |
|
|
1 |
Rs.87.00 |
|
Euro |
1 |
Rs.69.83 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
BYI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
30 |
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.