MIRA
INFORM REPORT
|
Report Date : |
16.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
FINO PAYTECH LIMITED (w.e.f.07.08.2012) |
|
|
|
|
Formerly Known
As : |
FINANCIAL INCLUSION NETWORK AND OPERATIONS LIMITED (w.e.f. 01.09.2010) FINANCIAL INFORMATION NETWORK AND OPERATIONS LIMITED (w.e.f.
02.02.2007) FINANCIAL INFORMATION NETWORK AND OPERATIONS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Shree Sawan Knowledge Park, 2nd Floor, D-507, TTC
Industrial Area, MIDC Turbhe, Navi Mumbai-400705, Maharashtra |
|
|
|
|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
15.06.2006 |
|
|
|
|
Com. Reg. No.: |
11-162656 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 516.779 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72900MH2006PLC162656 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is providing Consultancy Services. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 3800000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. The latest financials
of the company are not made available. As per previous, the company was found to have shown some improvement
in its operations. However, trade relations are reported as fair. Business is active.
Payments terms are unknown. The company can be considered for business dealings with some caution.
|
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 : |
Shree Sawan Knowledge Park, 2nd Floor, D-507, TTC
Industrial Area, MIDC Turbhe, Navi Mumbai-400705, Maharashtra, India |
|
Tel. No.: |
91-22-41313570 |
|
Fax No.: |
91-22-41313684 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
601 and 602, a Wing, Godrej Colesium, Sion Road, Mumbai-400019,
Maharashtra, India |
DIRECTORS
AS ON 27.07.2012
|
Name : |
Mr. Sandeep Bakshi |
|
Designation : |
Director |
|
Address : |
B/4, Tanna Residency, Opposite Siddhivinayak Temple, Prabhadevi,
Mumbai-400025, Maharashtra, India |
|
Date of Birth/Age : |
28.05.1960 |
|
Date of Appointment : |
25.02.2011 |
|
DIN No.: |
00109206 |
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 |
U67200MH2000PLC129408 |
ICICI
LOMBARD GENERAL INSURANCE COMPANY LIMITED |
Nominee
director |
01/05/2009 |
19/03/2002 |
31/07/2010 |
Active |
NO |
|
2 |
L74899DL1983PLC014942 |
BHUSHAN
STEEL LIMITED |
Nominee
director |
29/03/2006 |
29/03/2006 |
26/03/2009 |
Active |
NO |
|
3 |
U72900MH2006PLC162656 |
FINO
PAYTECH LIMITED |
Director |
29/07/2011 |
11/09/2007 |
- |
Active |
NO |
|
4 |
L65190GJ1994PLC021012 |
ICICI
BANK LIMITED |
Director |
29/06/2009 |
01/05/2009 |
31/07/2010 |
Active |
NO |
|
5 |
U65922MH1999PLC120106 |
ICICI
HOME FINANCE COMPANY LIMITED |
Nominee
director |
25/08/2009 |
01/05/2009 |
08/04/2010 |
Active |
NO |
|
6 |
U65990MH2000PLC124773 |
ICICI
INVESTMENT MANAGEMENT COMPANY LIMITED |
Nominee
director |
01/05/2009 |
01/05/2009 |
01/12/2010 |
Active |
NO |
|
7 |
U67120MH1995PLC086241 |
ICICI
SECURITIES LIMITED |
Director |
30/04/2010 |
30/04/2010 |
27/08/2010 |
Active |
NO |
|
8 |
U66000MH2009PLC191935 |
ICICI
PRUDENTIAL PENSION FUNDS MANAGEMENT COMPANY LIMITED |
Director |
09/09/2010 |
01/08/2010 |
- |
Active |
NO |
|
9 |
U66010MH2000PLC127837 |
ICICI
PRUDENTIAL LIFE INSURANCE COMPANY LIMITED |
Director |
09/09/2010 |
01/08/2010 |
- |
Active |
NO |
|
Name : |
Mr. Mahendrakumar Chouhan |
|
Designation : |
Nominee Director |
|
Address : |
A/1m Shitala Krupa, 277, L J Road, Mahim (West), Mumbai-400016,
Maharashtra, India |
|
Date of Birth/Age : |
05.12.1955 |
|
Date of Appointment : |
29.04.2010 |
|
DIN No.: |
00187253 |
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 |
U74140MH1994PTC083247 |
MIMS
CONSULTANTS PRIVATE LIMITED |
Director |
24/11/1994 |
24/11/1994 |
- |
Active |
NO |
|
2 |
L51900MH1985PLC035474 |
IOL
NETCOM LIMITED |
Director |
29/09/2006 |
03/10/2003 |
17/03/2010 |
Under
liquidation |
NO |
|
3 |
U74140MH2004PTC145112 |
MAHENDRA
AND ARDNEHAM CONSULTING PRIVATE LIMITED |
Director |
16/03/2004 |
16/03/2004 |
- |
Active |
NO |
|
4 |
L17100MH1946PLC004886 |
NESCO
LIMITED |
Director |
19/04/2005 |
19/04/2005 |
- |
Active |
NO |
|
5 |
U72900MH2006PLC162656 |
FINO
PAYTECH LIMITED |
Nominee
director |
29/04/2010 |
29/04/2010 |
- |
Active |
NO |
|
6 |
U74899DL1999PLC101534 |
INDIAMART
INTERMESH LIMITED |
Director |
30/08/2011 |
29/04/2011 |
- |
Active |
NO |
|
7 |
U65922MH2010PTC202721 |
AADHAR
HOUSING FINANCE PRIVATE LIMITED |
Additional
director |
25/07/2011 |
25/07/2011 |
- |
Active |
NO |
|
8 |
U67120MH1992PTC068060 |
ABHIVRUDDHI
HOLDINGS PRIVATE LIMITED |
Additional
director |
23/07/2012 |
23/07/2012 |
- |
Active |
NO |
|
Name : |
Mr. James Frederick Savage |
|
Designation : |
Nominee Director |
|
Address : |
8A, Block 18, Baguio Villas, 555 Victoria Road, Pok Fu Lam, Hong Kong |
|
Date of Birth/Age : |
18.04.1969 |
|
Date of Appointment : |
03.12.2009 |
|
DIN No.: |
01505485 |
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 |
U74140MH2006FTC166361 |
HEADLAND
CAPITAL PARTNERS (INDIA) PRIVATE LIMITED |
Director |
03/09/2007 |
03/07/2007 |
31/12/2008 |
Active |
NO |
|
2 |
U29297TN2001PTC047581 |
TRIVITRON
DENTAL TECHNOLOGIES PRIVATE LIMITED |
Nominee
director |
31/10/2007 |
31/10/2007 |
23/10/2012 |
Active |
NO |
|
3 |
U33112TN1997PTC037396 |
TRIVITRON
MEDICAL SYSTEMS PRIVATE LIMITED |
Nominee
director |
31/10/2007 |
31/10/2007 |
23/10/2012 |
Active |
NO |
|
4 |
U85110TN1998PTC040515 |
TRIVITRON
HEALTHCARE PRIVATE LIMITED |
Nominee
director |
31/10/2007 |
31/10/2007 |
23/10/2012 |
Active |
NO |
|
5 |
U72200DL1992PLC049074 |
NEWGEN
SOFTWARE TECHNOLOGIES LIMITED |
Director |
30/09/2008 |
13/12/2007 |
- |
Active |
NO |
|
6 |
U72900MH2006PLC162656 |
FINO
PAYTECH LIMITED |
Nominee
director |
03/12/2009 |
03/12/2009 |
- |
Active |
NO |
|
7 |
U32200MH2000PLC126562 |
AVITEL
POST STUDIOZ LIMITED |
Nominee
director |
30/03/2010 |
30/03/2010 |
- |
Active |
NO |
|
8 |
U32200MH1999PLC121164 |
MICROQUAL
TECHNO LIMITED |
Additional
director |
25/11/2010 |
25/11/2010 |
- |
Active |
NO |
|
9 |
U64202DL2003PTC122688 |
VALUEFIRST
DIGITAL MEDIA PRIVATE LIMITED |
Director |
26/09/2011 |
25/02/2011 |
- |
Active |
NO |
|
Name : |
Mr. Kasaragod Ashok Kini |
|
Designation : |
Director |
|
Address : |
B-202, Mantri Pride Apartments, 1st Block, Jayanagar,
Bangalore-560011, Karnataka, India |
|
Date of Birth/Age : |
12.12.1945 |
|
Date of Appointment : |
11.09.2007 |
|
DIN No.: |
00812946 |
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 |
L24292AP1961PLC000876 |
GULF
OIL CORPORATION LIMITED |
Director |
28/09/2007 |
27/09/2006 |
Active |
NO |
|
2 |
U65991MH2002GOI137868 |
UTI
TRUSTEE COMPANY PRIVATE LIMITED |
Director |
26/09/2007 |
29/11/2006 |
Active |
NO |
|
3 |
U72900MH2006PLC162656 |
FINO
PAYTECH LIMITED |
Director |
14/11/2007 |
11/09/2007 |
Active |
NO |
|
4 |
L65191PN1994PLC076333 |
INDUSIND
BANK LTD. |
Director |
22/09/2008 |
30/01/2008 |
Active |
NO |
|
5 |
U45205TN2009PLC073359 |
ETL
SECURE SPACE LIMITED |
Director |
03/09/2010 |
12/02/2010 |
Active |
NO |
|
6 |
U67190MH2009PLC192391 |
FINO
TRUSTEESHIP SERVICES LIMITED |
Director |
11/11/2010 |
30/06/2010 |
Active |
NO |
|
7 |
L13209GA1965PLC000044 |
SESA
GOA LIMITED |
Director |
21/07/2011 |
24/01/2011 |
Active |
NO |
|
8 |
U67100MH2007PLC174759 |
EDELWEISS
ASSET RECONSTRUCTION COMPANY LIMITED |
Director |
17/08/2012 |
29/11/2011 |
Active |
NO |
|
9 |
U99999MH1986PLC040298 |
SBI
CAPITAL MARKETS LIMITED |
Additional
director |
18/10/2012 |
18/10/2012 |
Active |
NO |
|
Name : |
Mr. Mathew Cyriac |
|
Designation : |
Nominee Director |
|
Address : |
1908, 19th Floor, B B Nakshe Marg, Imperial North Tower,
Tardeo, Mumbai-400034, Maharashtra, India |
|
Date of Birth/Age : |
20.05.1969 |
|
Date of Appointment : |
08.07.2011 |
|
DIN No.: |
01903606 |
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 |
U24231PN1981PLC024251 |
EMCURE
PHARMACEUTICALS LIMITED |
Alternate
director |
20/11/2007 |
20/11/2007 |
01/06/2009 |
Active |
NO |
|
2 |
U72200AP1999PTC032836 |
MTAR
TECHNOLOGIES PRIVATE LIMITED |
Director |
30/09/2008 |
29/11/2007 |
- |
Active |
NO |
|
3 |
L18101KA2004PLC033475 |
GOKALDAS
EXPORTS LIMITED |
Director |
04/09/2008 |
21/02/2008 |
- |
Active |
NO |
|
4 |
U30007MH1980PLC022235 |
CMS
COMPUTERS LIMITED |
Additional
director |
21/02/2009 |
21/02/2009 |
01/07/2009 |
Active |
NO |
|
5 |
U46711MH2006PLC158878 |
CMS
MARSHALL LIMITED |
Director |
30/09/2009 |
01/07/2009 |
- |
Active |
NO |
|
6 |
U67190DL1999PLC098107 |
CMS
SECURITAS LIMITED |
Director |
29/09/2009 |
01/07/2009 |
- |
Active |
NO |
|
7 |
U45200MH2008PTC180479 |
CMS
INFO SYSTEMS PRIVATE LIMITED |
Director |
30/09/2009 |
01/07/2009 |
- |
Active |
NO |
|
8 |
U60231DL2005PLC138598 |
GATEWAY
RAIL FREIGHT LIMITED |
Director |
18/09/2010 |
23/08/2010 |
- |
Active |
NO |
|
9 |
U74999DL1998PTC095012 |
SECURITRANS
INDIA PRIVATE LIMITED |
Additional
director |
18/06/2011 |
18/06/2011 |
- |
Active |
NO |
|
10 |
U72900MH2006PLC162656 |
FINO
PAYTECH LIMITED |
Nominee
director |
08/07/2011 |
08/07/2011 |
- |
Active |
NO |
|
11 |
U74120AP2008PLC074583 |
NUZIVEEDU
SEEDS LIMITED |
Alternate
director |
14/11/2011 |
14/11/2011 |
24/09/2012 |
Active |
NO |
|
12 |
U67190MH2005PTC156325 |
BLACKSTONE
ADVISORS INDIA PRIVATE LIMITED |
Director |
29/09/2012 |
19/03/2012 |
- |
Active |
NO |
|
Name : |
Mr. Avijit Churamoni Saha |
|
Designation : |
Nominee Director |
|
Address : |
Flat 1103, Wing C, Oberoi Splendor Fantasy Land, CTS No.1 J V Link
Road, Opposite Majas Depot, Jogeshwari (East), Mumbai-400060, Maharashtra,
India |
|
Date of Birth/Age : |
31.12.1968 |
|
Date of Appointment : |
04.10.2011 |
|
DIN No.: |
05102009 |
|
|
|
|
Name : |
Manish Khera |
|
Designation : |
Whole Time Director |
|
Address : |
DP-205, Maurya Enclave, Pitam Pura, Delhi-110088, India |
|
Date of Birth/Age : |
15.04.1970 |
|
Date of Appointment : |
01.01.2007 |
|
DIN No.: |
01122979 |
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 |
U72900MH2006PLC162656 |
FINO
PAYTECH LIMITED |
Whole-time
director |
01/04/2012 |
01/01/2007 |
Active |
NO |
|
2 |
U67190MH2009PLC192391 |
FINO
TRUSTEESHIP SERVICES LIMITED |
Director |
14/05/2009 |
14/05/2009 |
Active |
NO |
|
3 |
U85100MH2010PTC211276 |
MHEALTH
VENTURES INDIA PRIVATE LIMITED |
Director |
30/09/2011 |
03/08/2011 |
Active |
NO |
|
4 |
U72900DL2010PTC211017 |
ALPHA
PAYMENT SERVICES INDIA PRIVATE LIMITED |
Director |
24/09/2012 |
15/06/2012 |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Rajaraman Suraresan |
|
Designation : |
Secretary |
|
Address : |
Flat No.303, Building No.2B, Ratan Nagar Apartments, Four Bungalows,
Andheri (West), Mumbai-400053, Maharashtra, India |
|
Date of Birth/Age : |
16.06.1960 |
|
Date of Appointment : |
23.03.2007 |
|
PAN No.: |
AATPS7386Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.07.2012
|
Names of Equity Shareholders |
No. of Shares |
|
Tarun Agarwal |
16000 |
|
Intel Capital Corporation |
500000 |
|
Union Bank of India |
2250000 |
|
Indian Bank |
2250000 |
|
Corporation Bank |
2250000 |
|
Life Insurance Corporation of India |
2250000 |
|
International Finance Corporation |
4500000 |
|
Intel Capital (Mauritius) Limited, Mauritius |
4575000 |
|
ICICI Bank Limited |
5750000 |
|
ICICI Lombard General Insurance Company Limited |
2750000 |
|
S. Rajaraman |
8000 |
|
Navneet Kumar |
8000 |
|
Rajeev arora |
8000 |
|
Rishi Gupta |
10000 |
|
Amit Jain |
70100 |
|
Manish Khera |
11000 |
|
HAV3 Holding (Mauritius) Limited, Mauritius |
2925000 |
|
Kamaljit Rastogi |
53750 |
|
V. Chandar Rao |
4000 |
|
FINO Trusteeship Services Limited |
214500 |
|
Amarinder Singh Aulakh |
50000 |
|
Amit Bhargava |
2500 |
|
Aziz Zulfiquer |
6000 |
|
Prabhashankar Mishra |
5000 |
|
Rashad Kidwai |
8750 |
|
Rakesh Jain |
10000 |
|
Jimmy Parakh |
66670 |
|
Suresh Goklaney |
70000 |
|
Shapoor P. Mistry |
405230 |
|
Vikas Goel |
35000 |
|
Debarshi Dutta |
8750 |
|
Achin Bansal |
5000 |
|
Rajagopalan E.K. |
5000 |
|
Mahendra Pratap Singh |
6250 |
|
Shilpa Deshmukh |
1000 |
|
Noor Mohammed Shaikh |
8000 |
|
Yogesh Bhavsar |
1250 |
|
Varun Dudeja |
1250 |
|
Prerna Kalra |
1250 |
|
Nirmal Bansal |
16000 |
|
Shankar Gupta |
17000 |
|
Mridu Garg |
5000 |
|
Arun Lata Garg |
12000 |
|
Kunmun Praharaj |
15000 |
|
Kamal Kishor Gupta |
10000 |
|
Vivek Jadhav |
1250 |
|
TOTAL |
31176500 |
|
Names of Preference Shareholders |
No. of Shares |
|
International Finance Corporation |
5173917 |
|
Intel Capital (Mauritius) Limited, Mauritius |
4434273 |
|
HAV3 Holding (Mauritius) Limited, Mauritius |
11329983 |
|
Blackstone GPV Capital Partners (Mauritius) VI‐B FDI Limited, Mauritius |
18780518 |
|
TOTAL
|
39718691 |
AS ON 21.08.2012
|
Names of Allottees |
No. of Shares |
|
Atul Sood |
10000 |
|
Atul Sood |
1250 |
|
Nor Mohammed Shaikh |
2000 |
|
TOTAL
|
13250 |
AS ON 27.07.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Public financial
companies |
7.22 |
|
Nationalized or
other banks |
40.10 |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
40.09 |
|
Bodies corporate |
8.82 |
|
Other top fifty shareholders |
3.77 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is providing Consultancy Services. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
·
Punjab National Bank, Andheri (East) Branch,
Nirman Darshan, Jijamata Road, Vikas Nagar, Near Pump House, Andheri (East),
Mumbai-400093, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Haribhakti and Company Chartered Accountant |
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Address : |
42, Free Press House, 215, Nariman Point, Mumbai-400021, Maharashtra,
India |
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PAN No.: |
AAAFH2010F |
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Associates : |
·
ICICI Bank Limited CIN No.:- L65190GJ1994PLC021012 |
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Subsidiaries : |
Fino Trusteeship Services Limited CIN No.:- U67190MH2009PLC192391 Intrepid Dinance and Leasing Private Limited CIN No.:- U65921MH1994PTC216496 |
CAPITAL STRUCTURE
AFTER 27.07.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000000 |
Equity Shares |
Rs.10/- each |
Rs. 400.000 Millions |
|
50000000 |
Preference Shares |
Rs.10/- each |
Rs. 500.000 Millions |
|
|
TOTAL |
|
Rs. 900.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
31176500 |
Equity Shares |
Rs.10/- each |
Rs. 311.765
Millions |
|
39718691 |
Preference Shares |
Rs.10/- each |
Rs. 397.187 Millions |
|
|
TOTAL |
|
Rs. 708.952 Millions |
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000000 |
Equity Shares |
Rs.10/- each |
Rs. 400.000 Millions |
|
30000000 |
Preference Shares |
Rs.10/- each |
Rs. 300.000 Millions |
|
|
TOTAL |
|
Rs. 700.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30739750 |
Equity Shares |
Rs.10/- each |
Rs. 307.397
Millions |
|
20938173 |
Preference Shares |
Rs.10/- each |
Rs. 209.382 Millions |
|
|
TOTAL |
|
Rs. 516.779 Millions |
AS ON 27.07.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000000 |
Equity Shares |
Rs.10/- each |
Rs. 400.000 Millions |
|
50000000 |
Preference Shares |
Rs.10/- each |
Rs. 500.000 Millions |
|
|
TOTAL |
|
Rs. 900.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
31189750 |
Equity Shares |
Rs.10/- each |
Rs. 311.897
Millions |
|
39718691 |
Preference Shares |
Rs.10/- each |
Rs. 397.187 Millions |
|
|
TOTAL |
|
Rs. 709.084 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 |
|
|
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|
1] Share Capital |
516.779 |
509.993 |
365.365 |
|
|
2] Share Warrants |
62.480 |
62.480 |
62.480 |
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3] Reserves & Surplus |
930.235 |
924.653 |
382.253 |
|
|
4] (Accumulated Losses) |
(547.530) |
(583.346) |
(345.591) |
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NETWORTH |
961.964 |
913.780 |
464.507 |
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LOAN FUNDS |
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1] Secured Loans |
502.472 |
336.772 |
145.914 |
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2] Unsecured Loans |
0.000 |
0.000 |
74.432 |
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TOTAL BORROWING |
502.472 |
336.772 |
220.346 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
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TOTAL |
1464.436 |
1250.552 |
684.853 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
501.610 |
336.261 |
310.072 |
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Capital work-in-progress |
1.959 |
62.202 |
16.318 |
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INVESTMENT |
206.344 |
331.060 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
249.204
|
256.696 |
168.191 |
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Sundry Debtors |
775.518
|
546.077 |
156.766 |
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Cash & Bank Balances |
78.360
|
110.666 |
199.586 |
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Other Current Assets |
29.185
|
27.057 |
28.544 |
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Loans & Advances |
231.940
|
139.924 |
74.249 |
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Total
Current Assets |
1364.207
|
1080.420 |
627.336 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
309.339
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|
257.061 |
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Other Current Liabilities |
271.299
|
220.611 |
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Provisions |
29.046
|
18.164 |
11.812 |
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Total
Current Liabilities |
609.684
|
559.391 |
268.873 |
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Net Current Assets |
754.523
|
521.029 |
358.463 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
1464.436 |
1250.552 |
684.853 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
1878.917 |
1029.462 |
457.243 |
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Other Income |
22.658 |
45.220 |
50.223 |
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TOTAL (A) |
1901.575 |
1074.682 |
507.466 |
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Less |
EXPENSES |
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Consumption material changes inventories |
419.022 |
208.343 |
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Manufacturing service costs |
494.620 |
342.447 |
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Employees related expenses |
415.520 |
279.532 |
612.887 |
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Administrative, selling and other expenses |
335.857 |
215.944 |
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Prior period items |
1.085 |
0.000 |
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Extraordinary items |
0.000 |
71.000 |
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TOTAL (B) |
1666.104 |
1117.266 |
612.887 |
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Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
235.471 |
(42.584) |
(105.421) |
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Less |
FINANCIAL
EXPENSES (D) |
68.993 |
61.013 |
9.675 |
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PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
166.478 |
(103.597) |
(115.096) |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
130.662 |
134.158 |
55.026 |
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PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
35.816 |
(237.755) |
(170.122) |
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Less |
TAX (H) |
0.000 |
0.000 |
2.657 |
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PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
35.816 |
(237.755) |
(172.779) |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(583.346) |
(345.591) |
(172.812) |
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BALANCE CARRIED
TO THE B/S |
(547.530) |
(583.346) |
(345.591) |
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Earnings Per
Share (Rs.) |
1.18 |
(7.91) |
(5.75) |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.88
|
(22.12) |
(34.05) |
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Net Profit Margin (PBT/Sales) |
(%) |
1.91
|
(23.10) |
(37.21) |
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Return on Total Assets (PBT/Total Assets} |
(%) |
1.92
|
(16.78) |
(18.15) |
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Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
(0.26) |
(0.37) |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.16
|
0.98 |
1.05 |
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Current Ratio (Current Asset/Current Liability) |
|
2.24
|
1.93 |
2.33 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
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2] |
Locality of the firm |
Yes |
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3] |
Constitutions of the firm |
Yes |
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4] |
Premises details |
No |
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5] |
Type of Business |
Yes |
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6] |
Line of Business |
Yes |
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7] |
Promoter's background |
Yes |
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8] |
No. of employees |
No |
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9] |
Name of person contacted |
No |
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10] |
Designation of contact
person |
No |
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11] |
Turnover of firm for last
three years |
Yes |
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12] |
Profitability for last
three years |
Yes |
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13] |
Reasons for variation
<> 20% |
----- |
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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 |
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 |
No |
|
34] |
External Agency Rating,
if available |
No |
CHANGE IN NAME
During the year,
the name of the Company was changed from Financial Information Network and Operations
Limited to Financial Inclusion Network and Operations Limited and the same was
effective from 1st September, 2010.
FORM 8
|
Corporate
identity number of the company |
U72900MH2006PLC162656 |
|
Name of the
company |
FINANCIAL INCLUSION
NETWORK AND OPERATIONS LIMITED |
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Address of the
registered office or of the principal place of business in |
Shree Sawan Knowledge Park, 2nd Floor, D-507, TTC Industrial Area, MIDC Turbhe, Navi Mumbai-400705, Maharashtra, India |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
10137183 |
|
Type of charge |
·
Book
debts ·
Movable
property (not being pledge) |
|
Particular of
charge holder |
Punjab National Bank, Andheri (East) Branch, Nirman Darshan, Jijamata Road, Vikas Nagar, Near Pump House, Andheri (East), Mumbai-400093, Maharashtra, India |
|
Nature of
instrument creating charge |
1) Hypothecation
of Moveable Assets Forming Part of Fixed / Block Assets 2) Deed of
hypothecation to secure L/C on DA basis 3) Counter Indemnity (All the
documents constitute a combined charge for Rs. 650.000 Millions |
|
Date of
instrument Creating the charge |
25.02.2011 |
|
Amount secured by
the charge |
Rs. 650.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Interest rate or such
other rate as Agreed between the borrower Company and the Bank from time to
time. Penal Interest in addition to agreed rate in case of Default. Terms of repayment Repayment, As
agreed between the Borrower Company and the Bank from time to time. Margin Margin rate, As
agreed between the Borrower Company and the Bank from time to time. Extent and operation of the charge The Bank has
enhanced the overall Banking Limit up to Rs. 650.000 Millions [i.e. Cash Credit
Limits Rs. 400.000 Millions (with sub limit- letter of Guarantee Limits of
Rs. 20.000 Millions) and Term Loan of Rs. 250.000 Millions (with sub
limit-ILC/FLC (DA) of Rs. 100.000 Millions) against First charge and
hypothecation of all current assets, fixed / block assets of the Company both
present and future. Total Charge stands Modified to Rs. 650.000 Millions |
|
Short particulars
of the property charged (Including location of the property) |
First Charge and
Hypothecation of all moveable Fixed / block assets both present and future to
secure the said credit facilities, in addition to any other securities that
have been given. |
|
Particulars of
the present modification |
The Bank has
enhanced the overall Banking Limit up to Rs. 650.000 Millions [i.e. Cash
Credit Limits Rs. 400.000 Millions (with sub limit- letter of Guarantee
Limits of Rs. 20.000 Millions) and Term Loan of Rs. 250.000 Millions (with
sub limit-ILC/FLC (DA) of Rs. 100.000 Millions) against First charge and
hypothecation of all current assets, fixed / block assets of the Company both
present and future. Total Charge stands Modified to Rs. 650.000 Millions |
FIXED ASSETS
·
Freehold Land
·
Land
·
Building
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. 54.95 |
|
|
1 |
Rs. 87.10 |
|
Euro |
1 |
Rs. 70.03 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
32 |
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.