MIRA
INFORM REPORT
|
Report Date : |
27.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
ICICI HOME FINANCE COMPANY LIMITED |
|
|
|
|
Registered
Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
28.05.1999 |
|
|
|
|
Com. Reg. No.: |
11-120106 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.
10987.500 Millions |
|
|
|
|
CIN No.: [Company Identification No.] |
U65922MH1999PLC120106 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMI04738G |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing loans for purchase, construction, repairs and renovation
etc., of houses / flats to individuals, corporate bodies, builders and
co-operative housing societies. |
|
|
|
|
No. of Employees
: |
Information
declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (67) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 56000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a wholly owned subsidiary of ICICI Bank. It is a well
established company having fine track. Liquidity of the company appears to be strong and healthy. Trade
relations are reported as trustworthy. Business is active. Payments are
reported to be regular and as per commitment. The company can be considered good for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 |
ICRA |
|
Rating |
Long term Bonds Programme : AAA |
|
Rating Explanation |
Highest degree of safety and lowest credit risk. |
|
Date |
December 2011 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term Debt Programme : A1+ |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
December 2011 |
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 DENIED
MANAGEMENT NON CO-OPERATIVE
LOCATIONS
|
Registered Office : |
|
|
Tel. No.: |
91-22-26531414 |
|
Fax No.: |
91-22-26531215/ 26531671 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 22.05.2012
|
Name : |
Mr. Rohit Manmohan Salhotra |
|
Designation : |
Managing director |
|
Address : |
703-C, Lokhandwala Residency, E Moses Road, Worli, Mumbai – 400018,
Maharashtra, India |
|
Date of Birth/Age : |
18.07.1966 |
|
Date of Appointment : |
22.05.2012 |
|
DIN No.: |
03580929 |
|
|
|
|
Name : |
Mr. Jayesh Manhar Gandhi |
|
Designation : |
Director |
|
Address : |
A/4, Mewawala Apartment, 53-D St. Mary Road, Vile Parle West, Mumbai –
400056, Maharashtra, India |
|
Date of Birth/Age : |
09.01.1962 |
|
Date of Appointment : |
18.11.2006 |
|
DIN No.: |
00221855 |
|
|
|
|
Name : |
Mr. Subramaniam Santhanakrishnan |
|
Designation : |
Director |
|
Address : |
Flat G5, Block 2, Prime Terrace 150, |
|
Date of Birth/Age : |
08.11.1944 |
|
Date of Appointment : |
24.07.2008 |
|
DIN No.: |
00005069 |
|
|
|
|
Name : |
Mr. Dileep Chinubhai Choksi |
|
Designation : |
Director |
|
Address : |
E-7, Sea Face Park, 50, Bhulabhai Desai Road, Mumbai - 400026,
Maharashtra, India |
|
Date of Birth/Age : |
26.12.1949 |
|
Date of Appointment : |
25.09.2009 |
|
DIN No.: |
00016322 |
|
|
|
|
Name : |
Mr. Rajiv Sabharwal |
|
Designation : |
Nominee director |
|
Address : |
Y-1301, 13th Floor, Callalily Nahar’s Amrit Shakti Off Saki
Vihar Road, Chandivali, Andheri East, Mumbai
- 400072, Maharashtra, India |
|
Date of Birth/Age : |
28.09.1965 |
|
Date of Appointment : |
08.04.2010 |
|
DIN No.: |
00057333 |
|
|
|
|
Name : |
Mr. Maninder Singh Juneja |
|
Designation : |
Nominee director |
|
Address : |
D - 1002, Mayfair Meridian Ceasar Road, Amboli, Andheri (West),
Mumbai-400058, Maharashtra, India |
|
Date of Birth/Age : |
31.01.1966 |
|
Date of Appointment : |
08.04.2010 |
|
DIN No.: |
02680016 |
KEY EXECUTIVES
|
Name : |
Mr. Pratap S. Salian |
|
Designation : |
Secretary |
|
Address : |
19/102, Sanskriti 90 Feet Road, Asha Nagar, Kandivli (East), Mumbai -
400101, Maharashtra, India |
|
Date of Birth/Age : |
01.06.1964 |
|
Date of Appointment : |
11.04.2011 |
|
PAN No.: |
AQUPS7901E |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 22.05.2012
|
Names of Shareholders |
No. of Shares |
|
ICICI Bank Limited, |
1098748790 |
|
ICICI Securities Limited, |
500 |
|
ICICI Bank Limited, |
110 |
|
ICICI Lombard General Insurance Company Limited, |
100 |
|
ICICI Investments Management Company Limited, |
100 |
|
ICICI Trusteeship Services Limited, |
100 |
|
ICICI Venture Funds Management Company Limited, |
100 |
|
ICICI Securities Primary Dealership Limited, |
100 |
|
ICICI Securities Limited, |
100 |
|
Total |
1098750000 |
AS ON 22.05.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Nationalised or other banks |
|
99.99 |
|
Bodies corporate |
|
0.01 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing loans for purchase, construction, repairs and renovation
etc., of houses / flats to individuals, corporate bodies, builders and
co-operative housing societies. |
GENERAL INFORMATION
|
No. of Employees : |
Information
declined by the management |
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Bankers : |
ICICI Bank Limited, |
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Facilities : |
Note: Fixed deposits includes deposits from Banks Rs. Nil (Mar'11- \ Nil) deposits from Corporates Rs. 0.5 million
(Mar'11- Rs. 297.0 million)
and deposits from Public Rs. 21.6 miliion (Mar'11- Rs. 424.0 million) and
carries interest in the range of 8.25% to 9.50% with tenure of 12 months from
the date of acceptance of deposits. Fixed deposits accepted from Directors
and their relatives are Rs. Nil (Mar'11- Rs. Nil). |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
IDBI Trusteeship
Services Limited, Asian Building, Ground Floor, 17, R. Kamani Marg, Ballard
Estate, Mumbai – 400001, Maharashtra, India
|
|
|
|
|
Auditors : |
|
|
Name : |
S R Batliboi and Company Chartered Accountants |
|
Address : |
6th Floor, |
|
Tel. No.: |
91-22-66579200 |
|
Fax No.: |
91-22-22876401 |
|
Income-tax
PAN of auditor or auditor's firm : |
AALFS0506L |
|
|
|
|
Holding Company : |
ICICI Bank Limited CIN No.:
L65190GJ1994PLC021012 |
|
|
|
|
Fellow Subsidiaries / Fellow Entity : |
Ř
ICICI Securities Limited Ř
ICICI Securities Primary Dealership Limited Ř
ICICI Prudential Life Insurance Company Limited Ř
ICICI Lombard General Insurance Company Limited Ř
ICICI Securities Inc. Ř
ICICI Securities Holdings Inc. Ř
ICICI Venture Funds Management Company Limited Ř
ICICI Trusteeship Services Limited Ř
ICICI Investment Management Company Limited Ř
ICICI International Limited Ř
ICICI Bank UK PLC Ř
ICICI Bank Ř
ICICI Bank Ř
ICICI Eco-net Internet and Technology Fund Ř
ICICI Equity Fund Ř
ICICI Emerging Sectors Fund Ř
ICICI Strategic Investments Fund Ř
ICICI Prudential Asset Management Company Limited Ř
ICICI Prudential Trust Limited Ř
TCW/ICICI Investment Partners Limited Ř
ICICI Kinfra Limited Ř
ICICI Prudential Pension Funds Management Company
Limited Ř
ICICI Venture Value Fund (IVVF) Ř
I-Ven Biotech Limited |
|
|
|
|
Associates : |
Ř
I-Solutions Providers (India) Private Limited (upto
30.09.2011) Ř
ICICI Foundation for Inclusive Growth |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,385,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 23.850 Millions |
|
15,000,000 |
Preference Shares |
Rs. 10/- each |
Rs. 150.000 Millions |
|
|
Total |
|
Rs. 24.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,098,750,000 |
Equity Shares |
Rs.10/- each |
Rs.
10987.500 Millions |
|
|
|
|
|
Reconciliation of the shares outstanding at the beginning and at the
beginning and at the end of the reporting period
Equity Shares
|
|
31.03.2012 |
|
|
|
Number of Shares |
Amount |
|
At the beginning of the year |
1098750000 |
10987.500 |
|
Issued during the year |
-- |
-- |
|
Outstanding at the end of the year |
1098750000 |
10987.500 |
Terms/ rights attached to equity shares
The company
has only one class of Equity shares having a par value of Rs. 10 per share.
Each holder of equity shares is entitled to one vote per share. The company
declares and pays dividends in Indian rupees. The dividend proposed by the
Board of Directors is subject to the approval of the shareholders in the
ensuring Annual General Meeting.
During the year ended March 31, 2012, the
amount of per share dividend (including proposed dividend) recognized as distribution
to equity shareholders is Rs. 1.5 (March 31, 2011 – Rs. 1.4)
In the event of liquidation of the company,
the holders of equity shares will be entiled to receive remaining assets of the
company, after distribution of all preferential amounts. The distribution will
be in proporation to the number of equity shares held by the shareholders.
Preferences Shares
|
|
31.03.2012 |
|
|
|
Number of Shares |
Amount |
|
At the beginning of the year |
-- |
-- |
|
Issued during the year |
-- |
-- |
|
Outstanding at the end of the year |
-- |
-- |
Details of shareholders holding more than 5% shares in the company
|
|
31.03.2012 |
||
|
Equity shares of Rs, 10 each fully paid |
Number of Shares |
Amount |
% of holding in
the class |
|
ICICI Bank Limited (Holding Company and its
nominee) |
1098750000 |
10987.500 |
100.00 |
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 |
10987.500 |
10987.500 |
10987.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
3097.700 |
2416.700 |
1826.290 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
14085.200 |
13404.200 |
12813.790 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
12701.400 |
13755.000 |
14862.200 |
|
|
2] Unsecured Loans |
27816.700 |
39753.900 |
100473.057 |
|
|
TOTAL BORROWING |
40518.100 |
53508.900 |
115335.257 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
54603.300 |
66913.100 |
128149.047 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
45.800 |
54.700 |
663.029 |
|
|
Capital work-in-progress |
0.800 |
0.400 |
4.840 |
|
|
|
|
|
|
|
|
INVESTMENT |
3541.000 |
3508.300 |
13279.733 |
|
|
DEFERREX TAX ASSETS |
469.500 |
398.700 |
414.909 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000
|
0.000
|
|
|
Sundry Debtors |
80.600
|
46.900
|
47.679
|
|
|
Cash & Bank Balances |
2042.200
|
1924.100
|
3085.188
|
|
|
Other Current Assets |
1378.100
|
1923.100
|
1069.613
|
|
|
Loans & Advances |
66666.100
|
84173.700
|
4004.899
|
|
Total
Current Assets |
70167.000
|
88067.800
|
8207.379 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
192.300
|
120.100
|
174.115 |
|
|
Other Current Liabilities |
17749.200
|
23587.900
|
4852.548
|
|
|
Provisions |
1679.300
|
1408.800
|
863.009
|
|
Total
Current Liabilities |
19620.800
|
25116.800
|
5889.672 |
|
|
Net Current Assets |
50546.200
|
62951.000
|
2317.707
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
LOAN AND OTHER CREDIT FACILITIES |
0.000 |
0.000 |
111468.829 |
|
|
|
|
|
|
|
|
TOTAL |
54603.300 |
66913.100 |
128149.047 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
10609.800 |
12366.900 |
14668.181 |
|
|
|
Other Income |
100.100 |
96.900 |
1231.904 |
|
|
|
TOTAL (A) |
10709.900 |
12463.800 |
15900.085 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee Benefit Expense |
236.700 |
|
|
|
|
|
Establishment and Other Expenses |
830.400 |
747.300 |
|
|
|
|
Expenses recovered |
(39.300) |
(181.400) |
|
|
|
|
TOTAL (B) |
1027.800 |
875.400 |
1925.539 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
9682.100 |
11588.400 |
13974.546 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
6141.000 |
8284.400 |
11825.707 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3541.100 |
3304.400 |
2148.839 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
9.700 |
10.600 |
6.803 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
3531.400 |
3293.400 |
2142.036 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
934.900 |
597.700 |
535.266 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
2596.500 |
2332.900 |
1606.770 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
328.353 |
298.501 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
General Reserve |
NA |
NA |
0.000 |
|
|
|
Special Reserve |
NA |
NA |
330.000 |
|
|
|
Dividend |
NA |
NA |
1092.660 |
|
|
|
Proposed Dividend |
NA |
NA |
154.258 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
328.353 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic
|
2.38 |
2.12 |
1.46 |
|
|
|
Diluted
|
2.36 |
2.12 |
1.46 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
24.24 |
18.72 |
10.11 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
33.28 |
26.63 |
14.60 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.03 |
3.74 |
18.11 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25 |
0.25 |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.27 |
5.87 |
9.46 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.58 |
3.51 |
1.39 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
Total outstanding dues of Micro and
Small Enterprises |
0.500 |
0.400 |
4.461 |
|
Total outstanding dues to creditors
other than Micro and Small Enterprises |
191.800 |
119.800 |
169.654 |
|
Sundry Creditors |
192.300 |
120.200 |
174.115 |
|
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
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 |
Yes |
CORPORATE
INFORMATION
ICICI Home Finance
Company Limited (the company) is a public company domiciled in India and
incorporated under the provisions of the Companies Act, 1956. The Company is engaged
in the providing financial assistance for specified interest and maturity to
person/ persons for the purpose to acquire, construct, erect, improve, extend,
alter, repair, renovate, develop any house, flats or buildings or any form of
real estate or any part or portion-thereof. The Company is also providing
financial assistance to any person for specified purpose against the security
of any immovable property. The Company is engaged in providing advisory,
consultancy, broking in property service, sourcing and servicing home loans.
OPERATIONAL
REVIEW:
They have grown their mortgages footprint to now cover the upcoming
markets – markets which are largely unaffected by the pressures of the primary
markets. They have already attained significant market share in some of these
key location. Portfolio has been closely tracked to ensure they maintain good
quality since the overall look has been clarising. Revenues of their Real
Estate advisory business grew by 25% even though there was a slowdown in the markets.
The mortgage valuations group expanded its footprint to cover the requirement
of their Mortgages. Business and also for ICICI Bank and its other divisions.
The streamlining of operations with more automation has been the focus to
achieve better productivity. The Company continues to stay committed and
focused on partnership the developers at all stages of the Real Estate Value
chain.
CONTINGENT
LIABILITIES
(i) Income Tax matters in appeal – Rs. 515.700 Millions (March 2011 - Rs. 89.000 million}
(ii) Show cause notice in respect of service tax matters - Rs. 490.300 million (March 2011 - Rs.477.600 million)
(iii) The contingent liability on account of claims filed against the Company not acknowledged as debt is Rs.2.600 Million (March 2011 - Rs.3.200 million). A s per management, the Company has good chance of winning the case accordingly no provision for any liability has been made in the financial statement.
FIXED ASSETS
Ř
Ř Leasehold Property
Ř Computer
Ř Office Equipments
Ř Furniture
Ř 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 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 |
|
|
1 |
Rs. 89.20 |
|
Euro |
1 |
Rs. 72.10 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
9 |
|
--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 |
|
67 |
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.