MIRA
INFORM REPORT
|
Report Date : |
26.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
HINDUSTAN CARGO LIMITED |
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Registered Office : |
4th Floor, |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
07.12.1993 |
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Com. Reg. No.: |
11-75480 |
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Capital Investment / Paid-up Capital : |
Rs.2.500 Millions |
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CIN No.: [Company
Identification No.] |
U63010MH1993PLC075480 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMH03218F |
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PAN No.: [Permanent
Account No.] |
AAACH1471R |
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Legal Form : |
A Closely held Public Limited Liability Company. |
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Line of Business : |
Providing Transportation Services, International Freight, Forwarding
Services, Warehousing Services, Custom Clearance Services etc. |
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No. of Employees : |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 490000 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a wholly owned subsidiary of Allcargo Global Logistics
Limited. It is an established company having moderate track records. The
financial details for the year 2011, 2012 is missing from government departmnt. However, from the previous year record the company performance seems
good. Financially appears satisfactory. Trade relations are reported to be
fair. Business is active. Payments 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.
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.
INFORMATION DECLINED BY
|
Name : |
Mr. Mohit Kotwal |
|
Designation : |
Finance Manager |
|
Tel. No.: |
91-22-66020600 |
|
Date : |
23.11.2012 |
LOCATIONS
|
Registered Office/
Corporate Office : |
4th Floor, |
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Tel. No.: |
91-22-66020600 |
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Fax No.: |
91-22-66020670 |
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E-Mail : |
deepal.shah@hindustancargoltd.in amit.dodani@allcargoglobal.com |
|
Website : |
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|
Area : |
7800 sq.fts |
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Location : |
Leased |
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Branch Office : |
202, Polaris, “B” Wing, Off |
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Tel. No.: |
91-22-66020600 |
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Fax No.: |
91-22-66020680 |
DIRECTORS
As on 30.06.2011
|
Name : |
Mr. Kaiwan Dossabhoy Kalyaniwalla |
|
Designation : |
Director |
|
Address : |
Phirojshah Building, 3rd Floor, 70C, Gowalia Tank Road, Mumabai-400036, Maharashtra, India. |
|
Date of Birth/Age : |
13.08.1964 |
|
Date of Appointment : |
09.01.2007 |
|
DIN No.: |
00060776 |
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|
Name : |
Mr. Suryanarayanan Sivaramakrishnan |
|
Designation : |
Nominee director |
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Address : |
52, Sagar Tarang, 81/83, Bhulabhai Desai Road, Mumbai – 400036, Maharashtra, India |
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Date of Birth/Age : |
04.05.1958 |
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Date of Appointment : |
03.06.2010 |
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DIN No.: |
00444230 |
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Name : |
Mr. Jatin Jayantilal Chokshi |
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Designation : |
Nominee director |
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Address : |
B/9, Shivalay Haji Bapu Road, Near Post Office, Malad (East), Mumbai, 400097, Maharashtra, India |
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Date of Birth/Age : |
03.07.1958 |
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Date of Appointment : |
03.06.2010 |
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DIN No.: |
00495015 |
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Name : |
Mr. Girish Chandra Pandey |
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Designation : |
Managing director |
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Address : |
A-102, Abhay Chsl, Bldg No - 81, Tilak Nagar, Chembur, Mumbai, 400089, Maharashtra, India |
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Date of Birth/Age : |
05.07.1967 |
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Date of Appointment : |
03.06.2010 |
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DIN No.: |
03096639 |
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Name : |
Deepal Shah |
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Designation : |
Managing director |
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Address : |
A-101, Preeti Paradise, Dadabhai Cross Road, No.3, Vile Parle – (West), Mumbai, 400056, Maharashtra, India |
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Date of Birth/Age : |
20.08.1970 |
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Date of Appointment : |
03.06.2010 |
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DIN No.: |
03097638 |
KEY EXECUTIVES
|
Name : |
Mr. Mohit Kotwal |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2011
|
Names of Shareholders |
|
No. of Shares |
|
Allcargo Global Logistics Limited, India |
|
249994 |
|
Arathi Shetty (As A Nominee of Allcargo Global Logistics Limited) |
|
1 |
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Shashi Kiran Shetty (As A Nominee of Allcargo Global Logistics Limited) |
|
1 |
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Adarsh Hegde (As A Nominee of Allcargo Global Logistics Limited) |
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1 |
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Umesh Shetty (As A Nominee of Allcargo Global Logistics Limited) |
|
1 |
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Prabhakar Shetty (As A Nominee of Allcargo Global Logistics Limited) |
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1 |
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Susheela Shetty (As A Nominee of Allcargo Global Logistics Limited) |
|
1 |
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Total |
|
250000 |
List of Allottees
As on 01.01.2012
|
Names of Allottees |
|
No. of
Preferences Shares Allotted |
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Allcargo Global Logistics Limited, India |
|
147975 |
List of Allottees
As on 29.09.2012
|
Names of Allottees |
|
No. of
Preferences Shares Allotted |
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Allcargo Global Logistics Limited, India |
|
2500 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.06.2011
|
Category |
|
Percentage |
|
Bodies corporate |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Transportation Services, International Freight, Forwarding
Services, Warehousing Services, Custom Clearance Services etc. |
GENERAL INFORMATION
|
Customers : |
· TATA · TVS · Mahindra Navistar · Yamaha · Mahindra · Bombardier · Honda Trading · Federal Mogul · Otis · Bajaj · Siemens · Unilever · Moles · Sandvik · Alfa Laval · Samsung · Tata Chemicals Limited · Saint-Gobain Corporation · Alstom · Aditya Birla Group · Lucas – TVS · Matrix Telecom Solution · KHS · JSW · Zenith · Vedanta · Cadila · Intas · Dr. Reddy’s · L and T · BGR Energy · Rehau · Ashima Group · Mitsubishi Corporation · Skoda · Essar · Amul Industries · Xytel |
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No. of Employees : |
Information declined by the management |
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Bankers : |
· HDFC Bank Limited, ITc Centre, 3rd Floor, 759, Anna salai, Chennai – 600 002, Tamil Nadu · Standard Chartered Bank, Fort · Axis Bank Limited, Trishul 3rd Floor, Opposite Samartheshwar Temple, Law Garden Ellisbridge, Ahmedabad - 380006, Gujarat, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
C. C. Dangi and Associates Chartered Accountants |
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Address : |
90, Mahindra Chambers, 2nd Floor, 134/136, D.N. Road, Fort, Mumbai –
400001, Maharashtra, India |
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PAN No.: |
ABCPD8756B |
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Holding Companies : |
· All Cargo Global Logistics Limited CIN No.: L63010MH2004PLC073508 |
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Fellow Subsidiaries : |
· ECU Line (Thailand) Limited · ECU Line Middle East LLc · ECU Air Belgium · ECU Line Egypt Limited · ECU Line Jordan · ECU Line Kenya Limited · ECU Logistics do brasil Ltda · Contech Transport Services Private Limited From 30.12.2006 · All Cargo Belgium N.V. From 30.12.2006 · ECU Line Doha W.L.L · ECU Heavylift · ECU Line Chile SA · ECU Line Singapore Pte. Limited · ECU Line Spain S.L. Barcelona · ECU-Line Uruguay · ECU Line Abu Dhabi LLC · ECU Line Del Ecuador S A. · ECU Line Algerie · Ecu Line Vietnam · ECU-Line Canada Inc. · ECU-Line de Panama S.A. · ECU-Line (Indian Ocean Islands) Limited |
CAPITAL STRUCTURE
After 30.06.2011
Authorised Capital : Rs.39.000 Millions
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500
Millions |
|
150475 |
Preference Shares |
Rs.100/- each |
Rs.15.048
Millions |
|
|
|
|
Rs.17.548 Millions |
As on 31.12.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500
Millions |
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|
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|
Note:
The entire issued
Share capital of the company is
held by Allcargo Global Logistic Limited together with its nominees.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2.500 |
2.500 |
2.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
120.592 |
78.161 |
57.921 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
123.092 |
80.661 |
60.421 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
112.869 |
81.001 |
122.457 |
|
|
TOTAL BORROWING |
112.869 |
81.001 |
122.457 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
235.961 |
161.662 |
182.878 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
13.563 |
12.373 |
13.815 |
|
|
Capital work-in-progress |
3.965 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
11.127 |
11.743 |
5.882 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000
|
0.000
|
|
|
Sundry Debtors |
165.004
|
130.359
|
214.668
|
|
|
Cash & Bank Balances |
36.571
|
15.322
|
11.829
|
|
|
Other Current Assets |
2.778
|
1.858
|
0.063
|
|
|
Loans & Advances |
264.817
|
90.250
|
40.507
|
|
Total
Current Assets |
469.170
|
237.789
|
267.067
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
126.354 |
50.342 |
103.101
|
|
|
Other Current Liabilities |
132.626
|
47.802
|
|
|
|
Provisions |
2.884
|
2.099
|
0.785
|
|
Total
Current Liabilities |
261.864
|
100.243
|
103.886
|
|
|
Net Current Assets |
207.306
|
137.546
|
163.181
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
235.961 |
161.662 |
182.878 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1758.418 |
1101.167 |
1420.483 |
|
|
|
Other Income |
15.691 |
7.953 |
0.113 |
|
|
|
TOTAL (A) |
1774.109 |
1109.120 |
1420.596 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Operational Expenses |
1494.440 |
927.734 |
|
|
|
|
Personnel Expenses |
118.557 |
82.470 |
|
|
|
|
Other Expenses |
78.398 |
62.941 |
|
|
|
|
TOTAL (B) |
1691.395 |
1073.145 |
1366.540 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
82.714 |
35.975 |
54.056 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
9.681 |
7.694 |
9.279 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
73.033 |
28.281 |
44.777 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5.352 |
5.809 |
5.472 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
67.681 |
22.472 |
39.305 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
25.250 |
2.233 |
19.607 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
42.431 |
20.239 |
19.698 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
75.834 |
55.595 |
35.897 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
118.265 |
75.834 |
55.595 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
182.838 |
103.204 |
1.791 |
|
|
TOTAL EARNINGS |
182.838 |
103.204 |
1.791 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
169.73 |
80.96 |
78.79 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
PAT / Total Income |
(%) |
2.39
|
1.82
|
1.39
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.85
|
2.04
|
2.77
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.02
|
8.98
|
13.71
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.55
|
0.28
|
0.65
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.04
|
2.25
|
3.75
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.79
|
2.37
|
2.57
|
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars
|
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
Sundry Creditor |
|
|
|
|
-
Due to Micro and Small
Enterprises |
0.000 |
0.000 |
0.000 |
|
-
Others |
126.354 |
50.342 |
41.591 |
|
Total |
126.354 |
50.342 |
41.591 |
|
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 |
Yes |
|
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 |
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 |
Yes |
|
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 |
note:
The registered office address of the company has been shifted from
“No.104, Sai Pooja Housing Society, Near Janakalyan Bank, Om Nagar, Andheri
(East), Mumbai - 400069,
Maharashtra, India” to the present address w.e.f. 15.01.2008.
REVIEW OF OPERATIONS:
The year 2010 saw receding of recession and it helped the company register a significant growth. The company's total income grew by almost 60% thereby pushing the PAT to a new high of Rs.4.200 Million which is 109% higher as compared to the previous year.
During the last quarter of 2010 we have made investments in businesses in south and east India which will generate higher business for the years to come. The company has been continuously focused on restructuring the operations and bring in best practices which will go in building your companies sustainability and competitive advantage for the road to overall growth path.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U63010MH1993PLC075480 |
|
Name of the company |
HINDUSTAN CARGO LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
4th Floor, Polaris Building, A Wing, Premises No A 402-403, Off Makwana Road, Marol, Andheri (East), Mumbai-400059, Maharashtra, India E-mail Id : shailesh.dholakia@allcargoglobal.com |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10305114 |
|
Type of charge |
Movable property (not being pledge) Others (Current Assets incld RM, Stock in process, Fin Gds) |
|
Particular of charge holder |
Axis Bank Limited, Trishul 3rd Floor, Opposite Samartheshwar Temple, Law Garden Ellisbridge, Ahmedabad - 380006, Gujarat, India E-mail Id : arti.gadodia@axisbank.com |
|
Nature of instrument creating charge |
Supplemental Deed of Hypothecation dated August 27, 2012. |
|
Date of instrument Creating the charge |
27.08.2012 |
|
Amount secured by the charge |
Rs.95.000 Millions |
|
Brief of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Axis Bank Base Rate + 3% p.a. presently at 13.00% p.a. monthly intervals or as stipulated by the bank from time to time. Terms of Repayment On Demand Margin CC : Book Debts (cover period 90 days): 25% Margin on BG : Nil 100% cash margin in case of disputed liabilities Extent and Operation of the charge CC limits enhanced from Rs.1 Cr to Rs.50.000 Millions and BG limits reduced from Rs.850.000 Millions to Rs.450.000 Millions with one way int from CC to BG limits secured by 1st charge on present and future stock, RM, SIP, FG and other current assets, whether stored at Co's premises or elsewhere or in transit, O/s monies receivable, claims, bills etc. due and owing to the Co. in the course of its business and all movable fixed assets including plant, machinery, spares, fixtures, fittings, furniture, computers, veh. |
|
Short particulars of the property or asset(s) charged (including complete address and location of the property) |
1) All the Stock-in-trade both on present & future consisting stock including RM, SIP, FG, cash and other current assets, whatsoever being movable properties now or at any time hereafter or whether stored at Co's premises or elsewhere or in transit. 2) Charge on present & future outstanding, monies, receivable, claims, bills etc. due and owing to the Co. in the course of its business by any person, firm, company or body corporate or by the Government Department or office or any Municipal or Local or Public or Semi Government body or authority or body corporate or undertaking or project whatever in the public sector |
|
Date of instrument modifying the charge |
27.08.2012 |
|
Particulars of the present modification |
CC limits enhanced from Rs.10.000 Millions to Rs.50.000 Millions and BG limits reduced from Rs.850.000 Millions to Rs.450.000 Millions with one way int from CC to BG limits secured by 1st charge on present and future stock, RM, SIP, FG and other current assets, whether stored at Co's premises or elsewhere or in transit, O/s monies receivable, claims, bills etc. due and owing to the Co. in the course of its business and all movable fixed assets including plant, machinery, spares, fixtures, fittings, furniture, computers, veh. |
Fixed Assets:
· Furniture and Fixtures
· Leasehold improvements
· Computers
· Office Equipments
· Vehicles
· Software
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] 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 : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
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.