|
Report Date : |
26.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
FEDBANK FINANCIAL SERVICES LIMITED |
|
|
|
|
Registered
Office : |
Federal Towers, Alwaye, Ernakulam – 683101, Kerala |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
17.04.1995 |
|
|
|
|
Com. Reg. No.: |
09-008910 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1900.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U65910KL1995PLC008910 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Provide Gold Loan. |
|
|
|
|
No. of Employees
: |
700 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 7400000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject operates as a subsidiary of Federal Bank Limited. It provide financial products and services. It is well established and
reputed company. Company get good support from its holding company. But in
the current year their appears some accumulated loss. However creditworthy of
the company is good. Fundamental are strong. Trade relations are reported to
be fair. Business is active. Payments are reported to be regular and as per
commitments. The company can be considered for normal business dealing 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.
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL - Non Banking Financial Company |
|
Rating |
A1+ (Short Term Debt) |
|
Rating Explanation |
Having very strong degree of safety
regarding timely payments of financial obligation it carry lowest credit
risk. |
|
Date |
November 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.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Amol |
|
Designation : |
Accounts Head |
|
Contact No.: |
91-22-42930799 |
|
Date : |
24.11.2012 |
LOCATIONS
|
Registered Office : |
|
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
C-6, |
|
Tel. No.: |
91-22-42930799 |
DIRECTORS
As on: 01.08.2012
|
Name : |
Pullattel Chacko Cyriac |
|
Designation : |
Director |
|
Address : |
No. 28/3653, |
|
Date of Birth/Age : |
13.06.1942 |
|
Date of Appointment : |
21.07.2006 |
|
DIN No.: |
00022973 |
|
|
|
|
Name : |
Mr. Suresh Muthukrishna Kumar |
|
Designation : |
Director |
|
Address : |
H. H. SH. Hamadan Bin Rashid Villa, 352/26B, Jumeirah Area, N R Arenco
Villas, Villa-05(76), |
|
Date of Birth/Age : |
08.07.1950 |
|
Date of Appointment : |
24.08.2007 |
|
DIN No.: |
00494479 |
|
|
|
|
Name : |
Mr. Hayagreeva Ravikumar Puranam |
|
Designation : |
Director |
|
Address : |
501, Yashowan Towers, Behind Mahim Post, Office TH Kataria Marg, Mahim
(West), Mumbai – 400016, Maharashtra, India
|
|
Date of Birth/Age : |
20.07.1951 |
|
Date of Appointment : |
24.09.2007 |
|
DIN No.: |
00280010 |
|
|
|
|
Name : |
Mr. Mohammad Yousuf Khan |
|
Designation : |
Director |
|
Address : |
S-378, |
|
Date of Birth/Age : |
24.06.1944 |
|
Date of Appointment : |
13.09.2010 |
|
DIN No.: |
00570339 |
|
|
|
|
Name : |
Mr. Shyam Srinivasan |
|
Designation : |
Director |
|
Address : |
101, Nagarjuna Apartments, 36 Ram N St. T Nagar, Chennai – 600017, |
|
Date of Birth/Age : |
02.02.1962 |
|
Date of Appointment : |
03.08.2011 |
|
DIN No.: |
02274773 |
KEY EXECUTIVES
|
Name : |
Mr. Amol |
|
Designation : |
Accounts Head |
|
|
|
|
Name : |
Mr. Dilip Kr Radheshyam Maloo |
|
Designation : |
Secretary |
|
Address : |
C-106, Gayatri Shivam Co-operative Housing Society Limited, 90 Feet
Road, Near Sai Hospital, Thakur Complex, Kandivali (East), Mumbai - 400101, Maharashtra, India |
|
Date of Birth/Age : |
04.07.1980 |
|
Date of Appointment : |
13.05.2010 |
|
PAN No.: |
AKHPM9725B |
|
|
|
|
Name : |
Mr. Pradosh Kumar Radhamohan Mohapatra |
|
Designation : |
Manager |
|
Address : |
41, |
|
Date of Birth/Age : |
05.05.1955 |
|
Experience : |
01.10.2011 |
|
PAN No.: |
AENPM6545B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 01.08.2012
|
Names of Shareholders |
|
No. of Shares |
|
The Federal Bank Limited, |
|
499595 |
|
The Federal Bank Limited, |
|
189500000 |
|
Ganapathy Kumar Girish Jointly with The Federal Bank Limited, |
|
1 |
|
Joha C P Jointly with The Federal Bank Limited, |
|
100 |
|
Pullattel Chacko Cyriac |
|
100 |
|
K Varghese George Jointly with The Federal Bank Limited, |
|
1 |
|
Jagadeesan S T Jointly with The Federal Bank Limited, |
|
1 |
|
Jimmy K P Jointly with The Federal Bank Limited, |
|
1 |
|
Srinivasan Tirunelvelu Shyam Jointly with The Federal Bank Limited, |
|
200 |
|
Varghese I K Jointly with The Federal Bank Limited, |
|
1 |
|
|
|
|
|
Total |
|
190000000 |
Equity Share Break up (Percentage of Total Equity)
As on: 01.08.2012
|
Category |
|
Percentage |
|
|
|
|
|
Nationalised or other banks |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Provide Gold Loan. |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash and Credit |
|
|
|
|
Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
|
Customers : |
OEM’s |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
No. of Employees : |
700 (Approximately) |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
· IDBI Bank Limited, 224 A Mittal Court , A Wing, Nariman Point, Mumbai - 400021, Maharashtra, India · The Federal Bank Limited, Federal Towersp B No 103, Alwaye, Eranakulam - 683101, Kerala, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
Note: The above
facilities are secured by way of hypothecation on Gold Loan Receivables. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Varma and Varma Chartered Accountants |
|
Address : |
Sriniketan, Nettipadam Road, P B No.2350, Kochi – 682016, Kerala,
India |
|
PAN No.: |
AABFV9555E |
|
|
|
|
Holding Company : |
The Federal Bank Limited CIN No.:
L65191KL1931PLC000368 |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
190000000 |
Equity Shares |
Rs.10/- each |
Rs.1900.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
190000000 |
Equity Shares |
Rs.10/- each |
Rs.1900.000
Millions |
|
|
|
|
|
All the above shares are held by the Holding
Company. The Federal Bank Limited and its nominees.
1. Reconciliation of the number of shares issued, subscribed and paid up
at the beginning and the end of the year.
No. in Thousand
|
Particular |
31.03.2012 |
|
No of Shares Outstanding at the beginning of
the year |
35000 |
|
Add Additional Shares issued during the year |
155000 |
|
Less Shares Forfeited/Bought Back during the
year |
-- |
|
No of Shares Outstanding at the end of the
year |
190000 |
2. Number of shares held by each shareholder holding more than 5% shares
in the company
No. in Thousand
|
Particular |
31.03.2012 |
|
Equity Shares held by the Holding Company |
|
|
- Federal Bank Limited |
190000 |
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 |
1900.000 |
350.000 |
100.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
(35.653) |
38.093 |
24.210 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1864.347 |
388.093 |
124.210 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1596.039 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
1596.039 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3460.386 |
388.093 |
124.210 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
121.461 |
31.023 |
5.979 |
|
|
Capital work-in-progress |
24.508 |
9.149 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.853 |
0.425 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
10.909
|
26.055 |
24.829 |
|
|
Cash & Bank Balances |
82.130
|
275.895 |
85.146 |
|
|
Other Current Assets |
7.773
|
16.261 |
0.000 |
|
|
Loans & Advances |
3324.129
|
102.649 |
25.284 |
|
Total
Current Assets |
3424.941
|
420.860 |
135.259 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
29.216
|
21.751 |
12.154 |
|
|
Other Current Liabilities |
53.413
|
49.771 |
4.624 |
|
|
Provisions |
27.895
|
2.270 |
0.675 |
|
Total
Current Liabilities |
110.524
|
73.792 |
17.453 |
|
|
Net Current Assets |
3314.417
|
347.068 |
117.806 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3460.386 |
388.093 |
124.210 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
375.799 |
145.556 |
123.428 |
|
|
|
Other Income |
1.091 |
9.600 |
6.369 |
|
|
|
TOTAL (A) |
376.890 |
155.156 |
129.797 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee Benefit Expenses |
155.957 |
52.726 |
38.744 |
|
|
|
Other Expenses |
168.700 |
79.334 |
57.422 |
|
|
|
TOTAL (B) |
324.657 |
132.060 |
96.166 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
52.233 |
25.096 |
33.631 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
104.336 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
(52.103) |
25.096 |
33.631 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
20.790 |
2.277 |
2.114 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(72.893) |
22.819 |
31.517 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.853 |
8.936 |
7.230 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(73.746) |
13.883 |
24.287 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
17.105 |
(7.182) |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
2.777 |
0.000 |
|
|
|
Dividend |
|
|
|
|
|
|
Tax on Dividend |
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
28.211 |
17.105 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(1.12) |
0.85 |
2.43 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(19.57) |
8.95 |
18.71 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(19.40) |
15.68 |
25.53 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(2.05) |
5.05 |
22.31 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.04) |
0.06 |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.92 |
0.19 |
0.14 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
30.99 |
5.70 |
7.75 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
(Rs. In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Sundry Creditors |
|
|
|
|
Trade Payables |
29.216
|
21.751 |
12.154 |
|
|
|
|
|
|
Total |
29.216
|
21.751 |
12.154 |
|
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 |
Yes |
|
10] |
Designation of contact person |
Yes |
|
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 |
Yes |
|
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 |
Yes |
Bankers Charges
Report as per Registry
|
Corporate identity
number (CIN) or foreign company registration
number of the company |
U65910KL1995PLC008910 |
|
Name of the
company |
ANJ TURNKEY
PROJECTS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
Federal Towers, Alwaye, Ernakulam – 683101, Kerala, India E-mail: dilip.maloo@fedfina.com
|
|
This form is for |
Creation of
charge |
|
Type of charge |
Book debts |
|
Particular of
charge holder |
IDBI Bank Limited, 224 A Mittal Court , A Wing, Nariman Point, Mumbai - 400021, Maharashtra, India E-mail: vijaya.sekhar@idbi.co.in |
|
Nature of
instrument creating charge |
Deed of
Hypothecation dated March 29, 2012 creating First Pari passu charge on
standard assets portfolio of receivables with assets cover of 1.25 times |
|
Date of
instrument Creating the charge |
29.03.2012 |
|
Amount secured by
the charge |
Rs.500.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest At the rate of
BBR plus 125 bps fully floating payable on first day of each month falling
after the date of first disbursement of the financial assistance. Terms of
Repayment On demand Margin 25%, as per the
sanction letter as may be modified from time to time. Extent and
Operation of the charge The charge would
be First Pari passu charge on standard assets portfolio of receivables of the
company both present and future with an asset coverage of 1.25 times to
secure the due repayment of working capital facilities of Rs.500.000 Millions
together with interest and other costs. Others Other terms and
condition as per Deed of Hypothecation dated March 29, 2012 executed in favor
of IDBI Bank Limited and sanction letter dated February 3, 2012 |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Company's Current
Assets in the form of receivables, book-debts, bills whether documentary or
clean, outstanding monies receivables, both present and future. |
FIXED ASSETS:
·
Tangible Assets
·
Leasehold Improvement
·
Furniture and Fixture
·
Vehicles – Cars
·
Office Equipments
·
Computers
Intangible Assets
·
Computer Software
AS PER WEBSITE DETAILS:
Press release
FEDBANK DEPLOYS IBM
SOLN FOR BUSINESS GROWTH
Wednesday, July
27,2011
BANGALORE, INDIA: IBM
on Wednesday announced that FEDBANK Financial Services Limited, a wholly-owned
subsidiary of The Federal Bank Limited, has selected IBM Power systems to run
its business critical loan origination application.
FEDBANK has selected IBM Power Systems over Oracle and HP because of the IBM platform’s ease of management, cost-effectiveness and price-performance ratio, it claimed in a press release.
According to FEDBANK, the company’s plans for the rapid growth of its Gold Loans, Mortgage Loans and Car Loans were being impacted by the existing manual loan processes which hindered performance. As a result, FEDBANK set out to implement a faster, accurate and more efficient system for their internal processes to enable the desired business growth.
“As a company, FEDBANK has been committed to transform itself into a leader amongst our peer group of Non Banking Financial Corporations. Investment in technology plays an important role in this transformation - helping improve speed and time to market, increasing the visibility of information, growing our client base and providing the highest level of service to our end users, said Shome Sengupta, MD and CEO of FEDBANK.
He added that IBM’s vast experience of working with leading banks across the globe and in India will bring significant help to the bank.
The average number of loans booked today by FEDBANK is 275 per day; these are expected to reach 5000 per day by 2013. In addition, FEDBANK expects to grow the current number of 92 branches to 1250 branches by 2013.
To address this aggressive business growth, IBM is delivering a solution comprising the software application ‘FinnOne’, from ISV Nucleus software, to handle loan origination, loan services and delinquency/collection management and IBM’s Power Systems hardware to run the application.
“IBM is pleased to further extend our engagement with FEDBANK with this recent implementation,” said Viswanath Ramaswamy, VP – Power Systems, Systems and Technology Group, IBM India/South Asia.
“IBM Power Systems clearly offer clients an unmatched value proposition, in addition to a robust technology roadmap. The FEDBANK solution is a perfect example of companies turning to IBM's Power Systems to improve efficiencies, cut costs and better manage their operations while planning for growth,” he added.
FEDERAL BANK TO
INFUSE RS 250 MLN IN ARM FEDBANK FINANCIAL SERVICES
December 17 2010
4:56PM
MUMBAI, DEC 17 (TickerNews Service): Federal Bank Limited Friday said its board has approved infusion of Rs 250 million fresh capital in wholly-owned subsidiary, Fedbank Financial Services Limited.
Thursday, the Federal Bank stock ended at Rs 402.80 on National Stock Exchange, down 0.8% from Wednesday. Friday, the local stock exchanges are closed on account of Muharram. (End)
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 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 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.55.34 |
|
|
1 |
Rs.88.30 |
|
Euro |
1 |
Rs.71.37 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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.