MIRA INFORM REPORT

 

 

Report Date :

27.11.2012

 

IDENTIFICATION DETAILS

 

Name :

ARDOR INTERNATIONAL PRIVATE LIMITED

 

 

Registered Office :

B/1001-4, Premium House, Behind Handloom House, Ashram Road, Ahmedabad – 380 009, Gujarat

 

 

Country :

India

 

 

Financials (as on) :

31.03.2010

 

 

Date of Incorporation :

18.02.2003

 

 

Com. Reg. No.:

04-042016

 

 

Capital Investment / Paid-up Capital :

Rs.300.000 Millions

 

 

CIN No.:

[Company Identification No.]

U51909GJ2003PTC042016

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

AHMA02915D

AHMA08145E

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Trading in LAB, DDB, STPP and Other Chemicals.

 

 

No. of Employees :

30 [Approximately]

 

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (33)

 

RATING

STATUS

 

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 3634000

 

 

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 year’s, we found that the company has huge external borrowings which can be a threat to the company’s liquidity.

 

However, trade relations are reported as fair. Business is active. Payments are reported to be unknown in absence of latest financials.

 

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

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CARE

Rating

Long Term Bank Facilities : CARE BBB-

Rating Explanation

Moderate Credit Risk

Date

16.01.2012

 

 

Rating Agency Name

CARE

Rating

Short Term Bank Facilities : CARE A3

Rating Explanation

Moderate degree of safety and higher credit risk

Date

16.01.2012

 

 

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 31-03-20

 

 

INFORMATION PARTED BY [GENERAL DETAILS]

 

Name :

Ms. Sonam

Designation :

HR and Assistant of MD

Contact No.:

91-22-26584511

Date :

23.11.2012

 

 

LOCATIONS

 

Registered Office :

B/1001-4, Premium House, Behind Handloom House, Ashram Road, Ahmedabad – 380 009, Gujarat, India

Tel. No.:

91-79-26584511-14

Fax No.:

91-79-26584515

E-Mail :

ardor.international@gmail.com

vmasso@yahoo.co.in

ardor@ardor-group.com

vyas4you@gmail.com

Website :

http://www.ardor-international.com

Area :

3000 sq. ft.

Location :

Rented

 

 

Branch Office :

Located At:

 

v      Mumbai

v      Indore

v      Kanpur

v      Silvassa

v      Gandhidham

 

 

DIRECTORS

 

AS ON 30.09.2011

 

Name :

Mr. Fenilbhai Bharatbhai Shah

Designation :

Managing Director

Address :

301, Heritage Crescent, Opposite Shantiniketan Bunglows, S.G. Highway, Prahladnagar, Ahmedabad – 380 051, Gujarat, India

Date of Birth/Age :

27.10.1976

Experience :

9 Years

Date of Appointment :

01.04.2010

DIN No.:

00044522

 

 

Name :

Mrs. Gitaben Bharatbhai Shah

Designation :

Director

Address :

A-11, North Way Apartment, St. Xavier Collage Road, Navrangpura, Ahmedabad – 380 009, Gujarat, India

Date of Appointment :

18.02.2003

DIN No.:

00049071

 

 

Name :

Mr. Bharatbhai Ratnshi Shah

Designation :

Director

Address :

301, Heritage Crescent, Opposite Shantineketan Bunglows, S.G. Highway, Prahladnagar, Ahmedabad – 380 051, Gujarat, India

Date of Appointment :

01.03.2010

DIN No.:

02438343

 

 

KEY EXECUTIVES

 

Name :

Ms. Sonam

Designation :

HR and Assistant of MD

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2010

 

Names of Shareholders

 

 

No. of Shares

Fenil B. Shah

 

2727000

Gitaben Shah

 

2727000

Janaki F. Shah

 

2727000

Smita Rakesh Bhatt

 

171500

Shilpa Rakesh Shah

 

171500

Hasmukh D. Thakor

 

84250

Umang S. Patel

 

84250

Navin D. Thakor

 

84250

Nilesh Ashokkumar Solankhi

 

84250

Nipesh R. Shah

 

106750

Kamini A Soni

 

171500

Amitaben S. Shah

 

122500

Shaileshkumar R. Shah

 

62500

Shailesh Shah (HUF)

 

62500

Arunkumar Shah (HUF)

 

113500

Ruchitkumar A. Shah

 

113500

Nayanaben Shah

 

111000

Milanbhai Mehta

 

116625

Shrikeshbhai Mehta

 

116625

Nitaben Mehta

 

116625

Malvikaben Mehta

 

116625

Vasumatiben Mehta

 

177250

Bharatbhai Shah

 

2727000

Jinal Shah

 

2727000

Ardor In–Fin Private Limited, India

 

2727000

Shrikesh Mehta

 

2669500

Nayankumar Mehta

 

600000

Ardor Structure Private Limited, India

 

2727000

Greenland Infracon Private Limited, India

 

2727000

Infinium Det chem. Private Limited, India

 

2727000

 

 

 

Total

 

30000000

 

AS ON 17.08.2012

 

Names of Allottees

 

 

No. of Shares

Fenil B. Shah

 

437500

Gitaben Shah

 

437500

Bharatbhai Ratanshi Shah

 

437500

Janki Bharatbhai Shah

 

437500

Jinal Bharatbhai Shah

 

437500

Ardor In‐Fin Private Limited, India

 

437500

Ardor Structures Private Limited, India

 

437500

Greenland Infracon Private Limited, India

 

437500

 

 

 

Total

 

3500000

 

 

Names of Allottees

 

 

No. of Shares

Fenil B. Shah

 

5680000

Gitaben Shah

 

5680000

Bharatbhai Ratanshi Shah

 

5680000

Janki Fenil Shah

 

5680000

Jinal Bharatbhai Shah

 

5680000

Ardor In‐Fin Private Limited, India

 

5680000

Ardor Structures Private Limited, India

 

5680000

Greenland Infracon Private Limited, India

 

5680000

Infinium Det chem. Private Limited, India

 

5680000

Jayco Synthetics Private Limited, India

 

5680000

Chem Edge International Private Limited, India

 

5700000

 

 

 

Total

 

62500000

 

AS ON 26.02.2011

 

Names of Allottees

 

 

No. of Shares

Fenil B. Shah

 

441250

Gitaben Shah

 

441250

Bharatbhai Ratanshi Shah

 

441250

Janki Fenil Shah

 

441250

Jinal Bharatbhai Shah

 

441250

Ardor In‐Fin Private Limited, India

 

441250

Ardor Structures Private Limited, India

 

441250

Greenland Infracon Private Limited, India

 

441250

Infinium Det chem. Private Limited, India

 

441250

Jayco Synthetics Private Limited, India

 

441250

Ardor Enterprises Private Limited, India

 

587500

 

 

 

Total

 

5000000

 

AS ON 10.02.2011

 

Names of Allottees

 

 

No. of Shares

Fenil B. Shah

 

681750

Gitaben Shah

 

681750

Bharatbhai Ratanshi Shah

 

681750

Janki Fenil Shah

 

681750

Jinal Bharatbhai Shah

 

681750

Ardor In‐Fin Private Limited, India

 

681750

Ardor Structures Private Limited, India

 

681750

Greenland Infracon Private Limited, India

 

681750

Infinium Det chem. Private Limited, India

 

681750

Jayco Synthetics Private Limited, India

 

739250

Ardor Enterprises Private Limited, India

 

625000

 

 

 

Total

 

7500000

 

 

AS ON 30.09.2010

 

Equity Share Breakup

 

Percentage of Holding

Category

 

 

Bodies corporate

 

45.26

Directors or relatives of directors

 

54.74

Total

 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Trading in LAB, DDB, STPP and Other Chemicals.

 

 

GENERAL INFORMATION

 

No. of Employees :

30 [Approximately]

 

 

Bankers :

v      Bank of India, Ahmedabad Large Corporate Branch, 2nd Floor, BOI Building, Bhadra, Ahmedabad – 380 001, Gujarat, India

v      Rajkot Nagrik Sahakari Bank Limited, Ahmedabad, Gujarat, India

v      Union Bank of India, Branch Ashram Road, Ahmedabad – 380 014, Gujarat, India

 

 

Facilities :

Secured Loans

31.03.2010

(Rs. In Millions)

31.03.2009

(Rs. In Millions)

Secured loans for working capital from Banks

316.492

214.624

HDFC Bank Limited (Car Loan)

3.515

0.517

Total

320.007

215.141

 

Unsecured Loans

31.03.2010

(Rs. In Millions)

31.03.2009

(Rs. In Millions)

Inter Corporate Deposits

0.182

115.710

From Directors, relatives and share holders

213.017

0.000

Buyer’s Credit from Banks

136.469

195.918

Total

349.668

311.628

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Vipul and Manish Associates

Chartered Associates

Address :

True Value House, Opposite ISRO, Near Sundarvan Bus Stop, Satellite, Ahmedabad – 380 015, Gujarat, India 

Tel No.:

91-79-26730650/ 26730675

Mobile No.:

91-9727735731

Fax No.:

91-79-26730675

Email :

vmasso@yahoo.co.in

Income-tax PAN of auditor or auditor's firm :

AACFV2807J

 

 

Associate Entities :

v      Infinium Det Chem Private Limited

v      Jayco Synthetics Private Limited

v      Ardor Chemicals

v      J.B. Chemicals

v      Ardor In-Fin Private Limited

v      Matrix International

v      Chem-edge Global Private Limited

 

 

CAPITAL STRUCTURE

 

AFTER 30.09.2010

 

Authorised Capital :

No. of Shares

Type

Value

Amount

125000000

Equity Shares

Rs.10/- each

Rs.1250.000 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

108500000

Equity Shares

Rs.10/- each

Rs.1085.000 Millions

 

 

 

 

 

 

AS ON 31.03.2010

 

Authorised Capital :

No. of Shares

Type

Value

Amount

50000000

Equity Shares

Rs.10/- each

Rs.500.000 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

30000000

Equity Shares

Rs.10/- each

Rs.300.000 Millions

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2010

31.03.2009

31.03.2008

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

300.000

230.000

100.000

2] Share Application Money

75.000

40.000

0.000

3] Reserves & Surplus

124.292

49.258

10.094

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

499.292

319.258

110.094

LOAN FUNDS

 

 

 

1] Secured Loans

320.007

215.141

42.375

2] Unsecured Loans

349.668

311.628

354.104

TOTAL BORROWING

669.675

526.769

396.479

DEFERRED TAX LIABILITIES

1.239

0.466

0.360

 

 

 

 

TOTAL

1170.206

846.493

506.933

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

11.446

3.745

3.800

Capital work-in-progress

40.000

0.000

0.000

 

 

 

 

INVESTMENT

13.490

1.900

1.900

DEFERRED TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories

389.093

184.818

86.263

 

Sundry Debtors

1004.517

860.141

521.399

 

Cash & Bank Balances

48.988

71.656

96.035

 

Other Current Assets

0.000

0.000

0.000

 

Loans & Advances

294.765

134.071

25.120

Total Current Assets

1737.363

1250.686

728.817

Less : CURRENT LIABILITIES & PROVISIONS

 

 

 

 

Sundry Creditors

418.267

400.767

191.744

 

Other Current Liabilities

215.652

10.000

36.371

 

Provisions

0.000

0.000

0.000

Total Current Liabilities

633.919

410.767

228.115

Net Current Assets

1103.444

839.919

500.702

 

 

 

 

MISCELLANEOUS EXPENSES

1.826

0.929

0.531

 

 

 

 

TOTAL

1170.206

846.493

506.933

 

            PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2010

31.03.2009

31.03.2008

 

SALES

 

 

 

 

 

Income

6277.140

3905.772

1432.205

 

 

Other Income

8.871

7.279

5.883

 

 

TOTAL                                     (A)

6286.011

3913.051

1438.088

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Goods Sold

6014.956

3735.114

1354.582

 

 

Payment to and provision for Employee

41.571

13.836

6.315

 

 

Office & Administrative Expenses

56.031

24.777

12.339

 

 

Preliminary Expenses written off

0.653

0.351

0.201

 

 

TOTAL                                     (B)

6113.211

3774.078

1373.437

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)      (C)

172.800

138.973

64.651

 

 

 

 

 

Less

FINANCIAL EXPENSES                         (D)

55.511

76.243

31.252

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

117.289

62.730

33.399

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

0.945

0.519

0.486

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                               (G)

116.344

62.211

32.913

 

 

 

 

 

Less

TAX                                                                  (H)

41.272

23.318

10.411

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

75.072

38.893

22.502

 

 

 

 

 

Add/ Less

EXCESS/SHORT PROVISION OF INCOME TAX

0.038

0.271

(0.080)

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

49.258

10.094

3.035

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

 

Dividend

NA

NA

13.131

 

 

Dividend Distribution Tax

NA

NA

2.232

 

BALANCE CARRIED TO THE B/S

124.292

49.258

10.094

 

 

 

 

 

 

EARNING IN FOREIGN CURRENCY

142.774

50.715

NA

 

 

 

 

 

 

Earnings Per Share (Rs.)

3.26

3.05

--

 

 

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2010

31.03.2009

31.03.2008

PAT / Total Income

(%)

1.19

0.99

1.56

 

 

 

 

 

Net Profit Margin

(PBT/Sales)

(%)

1.85

1.59

2.30

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

6.65

4.96

4.49

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.23

0.19

0.30

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

2.61

2.94

5.67

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

2.74

3.04

3.19

 

 

LOCAL AGENCY FURTHER INFORMATION

 

DETAILS OF SUNDRY CREDITORS:

 

PARTICULARS

 

31.03.2010

(Rs. in millions)

31.03.2009

(Rs. in millions)

31.03.2008

(Rs. in millions)

SUNDRY CREDITORS

 

 

 

For Goods

273.349

316.519

141.547

For Expenses

144.918

84.248

50.197

TOTAL

418.267

400.767

191.744

 

 

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

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

No

30]

Major Shareholders, if available

Yes

31]

PAN of Proprietor/Partner/Director, if available

No

32]

Date of Birth of Proprietor/Partner/Director, if available

Yes

33]

Voter ID No of Proprietor/Partner/Director, if available

No

34]

External Agency Rating, if available

Yes

 

NOTE:

 

The registered office address of the company has been shifted from B-904, Premium House, Behind Handloom House, Ashram Road, Ahmedabad – 380 009, Gujarat, India to present address.

 

 

OPERATIONS:

 

The company has achieved Turnover of Rs.6277.100 millions during the year and earned net profit after tax of Rs.75.100 millions after making provision for tax of Rs.41.300 millions. The operation of Company comprised of sales of LAB, DDB, STPP, SODA ASH and other chemicals. The company is confident to achieve higher sales in the coming years.

 

 

BANKERS CHARGES REPORT AS PER REGISTRY

 

Corporate identity number of the company

U51909GJ2003PTC042016

Name of the company

ARDOR INTERNATIONAL PRIVATE LIMITED

Address of the registered office or of the principal place of  business in India of the company

B/1001-4, Premium House, Behind Handloom House, Ashram Road, Ahmedabad – 380 009, Gujarat, India

E-Mail: vmasso@yahoo.co.in

This form is for

Modification of charge

Charge identification number of the modified 

10269021

Type of charge

Immovable property

Any interest in immovable property

Particular of charge holder

Bank of India - BOI Consortium, Ahmedabad Large Corporate Branch, 2nd Floor, BOI Building, Bhadra, Ahmedabad - 380 001, Gujarat, India

E-Mail: lcb.ahmedabad@bankofindia.co.in

Nature of instrument creating charge

Sixth Supplemental Indenture of mortgage executed by company for extension of mortgage charge in favour of reconstituted BOI consortium (BOI, PNB, OBC, AXIS Bank, RNSBL and CBI) BOI being lead to secure modified, revised and increased fund based and non fund based tot aggregate limit of Rs.3652.500 millions which is registered with Joint Sub Registrar SRO Ahmedabad - 4 Paldi on 11.05.2012 at Sr. No.2955 in Book No.1 containing 40 pages

Date of instrument Creating the charge

11.05.2012

Amount secured by the charge

Rs.3652.500 millions

Brief of the principal terms an conditions and extent and operation of the charge

Extent and operation of the charge:

1st pari passu mort charge on all immovable property in favour of BOI and OBC to secured term loans Rs.220.000 millions and 2nd and pari passu mortgage charge on all immovable property in favour of BOI const to secure FB and NFB WC limit of Rs.3432.500 millions with tot aggregate limit of Rs.3652.500 millions along with interest, additional interest, penal interest, cost, charges, commission and all other amt due to the consortium banks of what so ever nature from time to time

 

Others:

 

Revised FB and NFB Limit (Rs. in millions)

 

BANK

BOI 

PNB

OBC

AXIS

RNSBL

CBI

TOT

WORK CAP LIM

960.000

615.000

125.000

470.000

200.000

430.000

3300.000

TERM LOAN

120.000

--

100.000

--

--

--

220.000

FORW CONT

40.000

37.500

25.000

30.000

--

--

132.500

TOTAL 

1120.000

877.500

275.000

500.000

200.000

430.000

3652.500

Short particulars of the property charged (Including location of the property)

All pieces and parcel of unit no d land adm 297.78 sq mtrs with const 15191 sq ft with pro land adm 373.41 sq mtrs in Mondeal Business Park, TPS 50 Mouje Bodak Dev, Taluka Dascroi, District Ahmedabad

 

All pieces and parcel of unit no e land adm 274.45 sq mtrs with const 14289 sq ft with pro land adm 351.24 sq mtrs in Mondeal Business Park, TPS 50 Mouje Bodak Dev, Taluka Dascroi, District Ahmedabad

 

All pieces and parcel of unit no f land adm 274.45 sq mtrs with const 14289 sq ft with pro land adm 351.24 sq mtrs in Mondeal Business Park, TPS 50 Mouje Bodak Dev, Taluka Dascroi, District Ahmedabad

Date of instrument modifying the charge

27.04.2011

Particulars of the present modification

BOI consortium reconstituted with CBI as newly inducted member bank. BOI const granted additional WC and forward cont limits thereby modifying, revising and increasing total FB and NFB aggregate limit from Rs.1570.000 millions to 3652.500 millions. Thus first / second pari passu mortgage charge in favour of BOI const has been extended and operate for tot aggregate increased FB+NFB limit of Rs.3652.500 millions in favour of reconst. BOI Consortium w. e. f. 11.05.2012.

 

 

FIXED ASSETS:

 

v      Computer

v      Computer Software

v      Cycle

v      Electric Fittings

v      Fax Machine

v      Furniture and Fixture

v      MS Tanks

v      Mobile

v      Motor Car

v      Office Equipment

v      Packing Machinery

v      Paper Shredder Machine

v      Refrigerator

v      Scooter

v      Telephone

v      Television

v      Water Cooler

v      Water Filter

v      Xerox Machine

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.55.69

UK Pound

1

Rs.89.20

Euro

1

Rs.72.10

 

 

INFORMATION DETAILS

 

Information Gathered by :

SVA

 

 

Report Prepared by :

TPT


 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

3

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILIRY

1~10

4

--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

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

33

 

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

-

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.