|
Report Date : |
27.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
OVERSEAS POLYMERS PRIVATE LIMITED (w.e.f.20.02.2001) |
|
|
|
|
Formerly Known
As : |
VINMAR POLYMERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Vinmar House, A-41, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
03.08.1995 |
|
|
|
|
Com. Reg. No.: |
11 - 91368 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.30.640
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209MH1995PTC091368 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMV04824B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACV1895M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing, Buying, Selling, Supplying of all types of Polymers, Plastic Raw Materials, Resins, Petrochemicals and all types of Chemicals. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The financial detail for the current year is missing from government department. However, from the previous year record financially company appears to be good. Trade relations are reported to be fair. Business is active. Payments are usually correct and as per commitments. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered for normal 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.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces of
its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to become
a major exporter of information technology services and software workers. In
2010, the Indian economy rebounded robustly from the global financial crisis -
in large part because of strong domestic demand - and growth exceeded 8%
year-on-year in real terms. However, India's economic growth in 2011 slowed
because of persistently high inflation and interest rates and little progress
on economic reforms. High international crude prices have exacerbated the
government's fuel subsidy expenditures contributing to a higher fiscal deficit,
and a worsening current account deficit. Little economic reform took place in
2011 largely due to corruption scandals that have slowed legislative work.
India's medium-term growth outlook is positive due to a young population and
corresponding low dependency ratio, healthy savings and investment rates, and
increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
(Long Term Bank Facilities): BBB+ |
|
Rating Explanation |
Having moderate degree of safety regarding
timely servicing of financial obligation, it carry moderate credit risk. |
|
Date |
January, 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.
LOCATIONS
|
Registered Office : |
Vinmar House, A-41, |
|
Tel. No.: |
91-22-66921201/ 67141900/ 67141905/ 28231135/ 28382318 to 28382322/ 66921201/
33051900 |
|
Fax No.: |
91-22-28231135/ 28381631/ 28200022/ 28355847 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
9000 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Corporate Office
: |
Vinmar Houston, |
|
Tel. No.: |
713 775 -1300/ 1399 / 1390 |
|
|
|
|
Branch Office : |
7-4-42(4), 1st Floor, Chettivanipalem, Autonagar, Gajuwaka,
|
|
|
|
|
Warehouse : |
Behind Maya Shree Compound, Godown No 6B, Sur 194, Hissa 3, Purna, Bhiwandi, Thane, Maharashtra, India |
DIRECTORS
(AS ON 29.09.2012)
|
Name : |
Mr. Himanshu Kantilal Sanghvi |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
403 and 405, Ashish, |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
30.12.1966 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
B.Com |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
03.08.1995 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No. : |
00362709 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorships :
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Ranjit Purshotamdas Isher |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Additional Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
1st Floor, Kanwal Mansion, 23 Cuffe Parade, Sobani Road,
Colaba, Mumbai – 400005, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
15.01.1969 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
30.09.2010 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00881262 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorships :
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Swatantra Vijay Jain |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
13702, Bay Front Dr, Houston, Texas, 77077, USA |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth : |
11.02.1946 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
25.03.2004 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00844262 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorships :
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Nilesh Gunventilal Shah |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 29.09.2012)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Himanshu Kantilal Sanghvi |
|
14500 |
|
Vaishali Himanshu Sanghvi |
|
14500 |
|
Vinmar Offshore Finance Limited - British Westindies |
|
2871000 |
|
APG Chemie (India) Private Limited - India |
|
20850 |
|
APG Capital Market Limited - |
|
143150 |
|
|
|
|
|
Total |
|
3064000 |
(AS ON 29.09.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
93.70 |
|
Bodies corporate |
|
5.35 |
|
Directors or relatives of directors |
|
0.95 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing, Buying, Selling, Supplying of all types of Polymers, Plastic Raw Materials, Resins, Petrochemicals and all types of Chemicals. |
||||||||||||||||
|
|
|
||||||||||||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
· Corporation Bank Amboli Branch, Andheri (West), Mumbai, Maharashtra, India · Corporation Bank Mumbai Oversea Branch, 1st Floor, Earnest House, Nariman Point, Mumbai – 400 021, Maharashtra, India ·
The 52/60, · HSBC Bank, Fort, Mumbai, Maharashtra, India · Axis Bank, Fort Branch, Sir P.M. Road, Fort, Mumbai – 400001, Maharashtra, India · Axis Bank Limited Corporate
Banking Branch, Axis House, Ground Floor, Wadia International Center, P.B.
Marg, Worli, Mumbai - 400025, Maharashtra, India · Yes Bank Limited 9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S. S. Kothari and Company Chartered Accountants |
|
Address: |
37, |
|
Tel No.: |
91-22-22650264 / 22653555 / 22666219 |
|
Fax No.: |
91-22-22654370 |
|
Email : |
|
|
PAN No.: |
AABPP0713G |
|
|
|
|
Holding Company : |
· Vinmar Offshore Finance Limited – British Westindies |
|
|
|
|
Associates: |
· GRSC Infotech Private Limited ·
Vinmar Petrochemicals ( · Indian Petrovin Limited · Vinmar International Limited · Vinmar Overseas Limited · Vinmar India Private Limited · Vinmar Chemicals and Polymers B.V. · Vinmar International FZE |
CAPITAL STRUCTURE
(AS ON 29.09.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- Each |
Rs.100.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3064000 |
Equity Shares |
Rs.10/- Each |
Rs.30.640 millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
30.640 |
30.640 |
30.640 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
644.031 |
563.143 |
363.485 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
674.671 |
593.783 |
394.125 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1084.610 |
440.045 |
4.023 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
1084.610 |
440.045 |
4.023 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1759.281 |
1033.828 |
398.148 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
23.094 |
18.339 |
15.941 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.001 |
0.001 |
0.001 |
|
|
DEFERREX TAX ASSETS |
7.157 |
4.629 |
4.091 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1679.300
|
1010.863
|
562.301
|
|
|
Sundry Debtors |
1420.119
|
1187.514
|
721.037
|
|
|
Cash & Bank Balances |
40.315
|
3.605
|
218.632
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
110.462
|
35.426
|
159.420
|
|
Total
Current Assets |
3250.196
|
2237.408
|
1661.390
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
1450.431
|
1192.559
|
1130.844
|
|
|
Other Current Liabilities |
44.125
|
27.770
|
23.207
|
|
|
Provisions |
26.611
|
6.219
|
129.224
|
|
Total
Current Liabilities |
1521.167
|
1226.548
|
1283.275
|
|
|
Net Current Assets |
1729.029
|
1010.860
|
378.115
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1759.281 |
1033.828 |
398.148 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
NA |
6282.323 |
5239.569 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
5975.487 |
5085.599 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
344.187 |
306.836 |
153.970 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
2.904 |
2.210 |
2.110 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
341.283 |
304.626 |
151.860 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
117.479 |
104.968 |
52.405 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
223.804 |
199.658 |
99.455 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
NA |
10.416 |
11.763 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
73.04 |
65.16 |
32.29 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
3.18 |
1.90 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.50
|
13.50 |
9.05 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.51
|
0.51 |
0.39 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.86
|
2.81 |
3.27 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.14
|
1.82 |
1.29 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last two 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 |
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 |
Yes |
FINANCIAL RESULTS
The company has
earned a net profit of Rs.223.804 Millions after providing provisions for Depreciation
of Rs.2.904 Millions provision for Income Tax (including prior period
adjustment and Wealth Tax) of Rs. 120.008 Millions after adjusting Deferred Tax
of Rs.2.529 Millions and balance was carried to the Balance Sheet after
transferring to General Reserve of Rs.22.400 Millions.
FORM
8:
|
Corporate
identity number of the company |
U25209MH1995PTC091368 |
|
Name of the
company |
OVERSEAS POLYMER PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Vinmar House, A-41, MIDC, Road No. 2, Andheri (East), Mumbai - 400093, Maharashtra, India |
|
This form is for |
Modification of
charge |
|
Charge identification
number of the modified |
10102008 |
|
Type of charge |
·
Book
debts ·
Movable
property (not being pledge) ·
Others:
Stock and other Current Assets, etc. |
|
Particular of
charge holder |
Axis Bank Limited Corporate Banking
Branch, Axis House, Ground Floor, Wadia International Center, P.B. Marg, Worli, Mumbai – 400025, Maharashtra, India CIN No.: L65110GJ1993PLC020769 |
|
Nature of
instrument creating charge |
Supplemental Deed
of Hypothecation dated 21.09.2012 |
|
Date of
instrument Creating the charge |
21.09.2012 |
|
Amount secured by
the charge |
Rs.1450.000
millions |
|
Brief of the
principal terms and conditions and extent and operation of the charge |
Rate of interest
– As per Sanction
Letter No. AXISB/ CO /MC/ RD/ O348/ 12-13 dated 06.08.2012 or as stipulated
by Bank from time to time. Terms of
repayment – As per Sanction
Letter No. AXISB/ CO/ MC/ RD/ O348/ 12-13 dated 06.08.2012 or as stipulated
by Bank from time to time. Margin – As per Sanction
Letter No. AXISB/ CO/ MC/ RD/ O348/ 12-13 dated 06.08.2012 or as stipulated
by Bank from time to time. Extent and
operation of the charge – Bank enhanced credit
facilities from Rs.1200.000 Millions to Rs.1450.000 Millions Various limits
secured are specified in SDH viz. CC-Rs.400.000 Millions, LC (S/L of CC )
-Rs.300.000 Millions, SBLC/LOU for BC (S/L of CC )-Rs.300.000 Millions,
LC-Rs.1050.000 Millions, BG (S/L of LC)-Rs.20.000 Millions and SBLC/LOU for BC (S/L of LC) -Rs.1050.000
Millions. Security by hypothecation by way of 1st pari passu charge on RM,
SIP, FG, book debts, receivables, other Current Assets etc., given earlier
shall continue to secure enhanced limits of Rs.1450.000 Millions. |
|
Particulars of
the property charged |
1st pari passu
charge by way of hypothecation of all Present and Future stock including RM,
SIP, finished goods, packing materials, consumable stores and spares
wheresoever’s situated or in transit, 1st pari passu
charge by way of hypothecation of all Present and Future Book debts,
Outstanding monies, Receivables, Claims, Bills etc owing to the company.
during the course of its business |
|
Date of last modification prior to the present modification |
20/12/2011 |
|
Particulars of
the present modification |
Bank enhanced
credit facilities from Rs.1200.000 Millions to Rs.1450.000 Millions Various
limits secured are specified viz. CC-Rs.400.000 Millions, LC (S/L of CC ) -Rs.300.000
Millions, SBLC/LOU for BC (S/L of CC )-Rs.300.000 Millions, LC-Rs.1050.000
Millions, BG (S/L of LC)-Rs.20.000 Millions and SBLC/LOU for BC (S/L of LC)
-Rs.1050.000 Millions. Security by hypothecation by way of 1st pari passu
charge on RM, SIP, FG, book debts,
receivables, other Current Assets etc., given earlier shall continue to
secure enhanced limits of Rs.1450.000 Millions. |
FIXED ASSETS
· Godown Premises
· Computers
· Office Equipment
· Motor Car
· Furniture and Fixture
· Air Conditioner
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 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
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
45 |
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.