MIRA INFORM REPORT

 

 

Report Date :

05.10.2012

 

IDENTIFICATION DETAILS

 

Name :

GANSONS LIMITED

 

 

Registered Office :

157/158 A, Akbar Camp Road, Sandoz Baug, Kolshet, Thane – 400607, Maharashtra.

 

 

Country :

India

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

19.08.1947

 

 

Com. Reg. No.:

11-005906

 

 

Capital Investment/ Paid-up Capital:

Rs.14.400 Millions

 

 

CIN No.:

[Company Identification No.]

U24110MH1947PLC005906

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

NSKG00057B/PNEG04669A

 

 

PAN No.:

[Permanent Account No.]

AAACG1699Q

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Manufacturer of Chemical Plant and other Machinery for Manufacturing Chemicals. Pharmaceuticals, etc.

 

 

No. of Employees:

500 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (46)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 658000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track. 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 normal 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

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

EPF (Employee Provident Fund) DEFAULTERS’’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

 

 

INFORMATION PARTED BY (GENERAL DETAILS)

 

Name :

Mr. Nimkar

Designation :

Accounts Executive

Contact No.:

91-22-25314052

Date :

04.10.2012

 

 

LOCATIONS

 

Registered Office/Head Office  :

157/158 A, Akbar Camp Road, Sandoz Baug, Kolshet, Thane – 400607, Maharashtra, India

Tel. No.:

91-22-25314052 / 55

Fax No.:

91-22-25894003

E-Mail :

accounts@gansons.co.in

pmrode@gansons.co.in

sales@gansons.co.in

export@gansons.co.in

Website :

www.gansons.com

 

 

Regional Offices :

·         59-B, Chowringhee Road, Kolkata-700020, West Bengal, India

·         358, Anna Salai, Chennai – 600006, Tamilnadu,  India

·         114, The Shopping Mall, 1st Floor, Arjun Marg, DLF Qurub Enclave, Phase-I, Gurgaon – 122002, Haryana, India

 

 

Factory 1

Plot No 157/158 (A), Akbar Camp Road, Sandoz Baug, Kolshet Road, Thane (W) – 400 607, Maharashtra, India

(ISO 9001:2000 Certified)

 

 

Factory 2:

House No. 284, Gala No. 3, Elthan Pada, Digha, Navi Mumbai - 400 708, Maharashtra, India

 

 

Factory 3 :

G – 10, MIDC Area., Hingna Industtrial Estate, Hingna Road, Nagpur – 440028, Maharashtra,  India

(DIN EN ISO 9001:2008 Certified)

 

 

Factory 4 :

Plot No. C – 5/2, MIDC Area, Ambad, Nashik – 422010, Maharashtra, India

Tel No.:

91-253-2383352

Fax No.:

91-253-2382401

 

 

 

 

DIRECTORS

 

As on 30.09.2011

 

Name :

Mr. Nilimendra Nath Banerjee

Designation :

Whole Time Director

Address :

39, Kamala, Jai-Hin Co-Op. Hsg. Society, J.V.P.D. Scheme, Juhu, Mumbai-400049, Maharashtra, India

Date of Birth/Age :

29.06.1925

Date of Appointment :

27.09.1957

Din No.:

00317580

 

 

Name :

Mr. Ashis Banerjee

Designation :

Managing Director

Address :

“Kamal”,39, Jai –Hind, Co –op Housing Society, JVPD, Scheme, Juhu, Mumbai -400049, Maharashtra, India

Date of Appointment :

01.09.1997

Din No.:

00317649

 

 

Name :

Mr. Shamaldas Jivandas Parekh

Designation :

Director

Address :

11/195, “Parvati”, Station Avenue Road, D.K.Sandu Marg, Chembur, Mumbai-400071, Maharashtra, India

Date of Birth/Age :

20.01.1923

Date of Appointment :

14.09.1967

Din No.:

00317504

 

 

Name :

Mr. Banwarilal Goenka

Designation :

Director

Address :

Goenka House, 9, Union Park,Chembur, Mumbai-400071, Maharashtra, India

Date of Birth/Age :

15.10.1921

Date of Appointment :

14.12.1976

Din No.:

00317181

 

 

Name :

Mr. Subroto Banerjee

Designation :

Director

Address :

3203, Ivory Creek, San Antonio, Tx – 78258, USA

Date of Birth/Age :

18.11.1964

Date of Appointment :

29.12.2003

Din No.:

00989283

 

 

Name :

Dr. Kalimohan Bhattacharya

Designation :

Director

Address :

Building No. 11 D, Flat No. 703, Spring Leaf, Lokhandwala Township, Akurli Road, Kandivali (East), Mumbai – 400101, Maharashtra, India

Date of Birth/Age :

04.12.1938

Date of Appointment :

28.09.2004

Din No.:

00318457

 

 

Name :

Mr. Gopal Goswami

Designation :

Whole Time-Director

Address :

102, Abhyankar Nagar, Nagpur – 440010, Maharashtra, India.

Date of Birth/Age :

30.05.1945

Date of Appointment :

12.01.2005

Din No.:

00319142

 

 

Name :

Mr. Vinodrai Chhaganlal Desai

Designation :

Director

Address :

A -1, “Yogakshema”, Nathpai Nagar, Ghatkopar (East), Mumbai- 400077, Maharashtra, India

Date of Birth/Age :

19.11.1937

Date of Appointment :

11.06.1996

Din No.:

00317318

 

 

 

 

KEY EXECUTIVES

 

Name :

Mr. Vasant Dattatray Goray

Designation :

Company Secretary

Address :

103, “A”, Wing, Prakriti Apts., Raghunath Nagar, Kay Kay Mill Compound, Thane (West), Thane – 400604, India

Date of Birth/Age :

20.02.1950

Date of Appointment :

01.11.1996

Pan No.:

ABLPG7786R

 

 

Name :

Mr. Nimkar

Designation :

Accounts Executive

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2011

 

SHARE HOLDING DETAILS FILE ATTACHED

 

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2011

 

Category

 

Percentage

 

 

 

Public financial companies

 

3.13

Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]

 

0.07

Bodies corporate

 

33.33

Directors or relatives of directors

 

53.28

Other top fifty shareholders

 

6.91

Others

 

3.28

Total

 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Chemical Plant and other Machinery for Manufacturing Chemicals. Pharmaceuticals, etc.

 

 

Products:

ITEM CODE NO. (ITC CODE)

PRODUCT DESCRIPTION

847989.02

Chemical Plant and Other Machinery for Manufacturing Chemicals, Pharmaceuticals etc

847989.02

Mixing, Sifting, Emulsifying, Stirring

Machines.

7309.00

Tank and similar containers of steel of a capacity exceeding 300 Litres.

 

 

Exports :

 

Products :

·         Chemical Plant

·         Manufacturing Chemicals

·         Pharmaceuticals

Countries :

·         London

·         China

·         Malaysia

 

 

Imports :

 

Products :

Raw Material

Countries :

·         Germany

·         Canada

 

 

Terms :

 

Selling :

Cash/Credit

 

 

Purchasing :

Cash/Credit

 

 

 

GENERAL INFORMATION

 

Customers :

Wholesalers, Retailers

 

 

No. of Employees :

500 (Approximately)

 

 

Bankers :

State Bank of India, Commercial Branch “Bullet Building” L.N Road, Dadar (East) Mumbai – 400014, Maharashtra, India

 

 

Facilities :

Rs. In Millions

Secured Loans

As on 31.03.2011

Rs. in millions

As on 31.03.2010

Rs. in millions

FROM STATE BANK OF INDIA Cash Credit Account

(Against hypothecation of Stocks of raw materials, finished goods, stock-in-process, stores and spares (whether in possession or under the control of Company) as also book debts (present & future) and mortgage of Company’s immovable assets.)

69.069

36.013

*Car Loans (Secured by Charge over Motor Cars  of the Company)

1.567

2.209

Total

70.636

38.222

 

*Two Directors of the Company have guaranteed the loans

Unsecured Loans

As on 31.03.2011

Rs. in millions

As on 31.03.2010

Rs. in millions

Loan from Directors

3.000

3.000

 

 

 

Total

3.000

3.000

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

N.S. Gokhale and Company

Chartered Accountant

Address :

104, Siddharth Darshan, 1st Floor, Dada Patil Wadi, Dada Patil Marg, Thane – 400607, India

Pan No.:

AAAFN1445J

 

 

CAPITAL STRUCTURE

 

As on 31.03.2011

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1925000

Equity Shares

Rs.10/- each

Rs.19.250 Millions

75000

Preference Shares

Rs.10/- each

Rs.0.750 Millions

 

Total

 

Rs.20.000 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1440000

Equity Shares

Rs.10/- each

Rs.14.400 Millions

 

 

 

 

 

Note

Of the above shares

(a) 3,000 Equity Shares of Rs. 10/- each are allotted as Fully Paid-Up to the Vendors pursuant to a contract without payment being received in Cash.

(b) 62,500 Equity Shares of Rs. 10/- each are allotted as Fully Paid-Up by way of Bonus Shares by Capitalising Reserves.

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

14.400

14.400

14.400

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

150.197

119.730

116.381

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

164.597

134.130

130.781

LOAN FUNDS

 

 

 

1] Secured Loans

70.636

38.222

52.671

2] Unsecured Loans

3.000

3.000

3.000

TOTAL BORROWING

73.636

41.222

55.671

DEFERRED TAX LIABILITIES

0.000

0.000

0.000

 

 

 

 

TOTAL

238.233

175.352

186.452

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

65.385

65.778

65.310

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

0.003

0.003

0.003

DEFERREX TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
142.215

107.779

96.597

 

Sundry Debtors
112.046

58.439

115.904

 

Cash & Bank Balances
72.502

88.514

54.933

 

Other Current Assets
0.000

0.000

0.000

 

Loans & Advances
95.285

76.750

68.016

Total Current Assets
422.048

331.482

335.450

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors
134.918

127.999

121.589

 

Other Current Liabilities
45.312

36.739

39.949

 

Provisions
68.973

57.173

52.773

Total Current Liabilities
249.203

221.911

214.311

Net Current Assets
172.845

109.571

121.139

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

238.233

175.353

186.452

 

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2011

31.03.2010

31.03.2009

 

 

SALES

 

 

 

 

 

Income

687.431

485.703

693.999

 

 

Other Income

10.416

12.689

9.782

 

 

TOTAL                                     (A)

697.847

498.392

703.781

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Material consumption

424.736

308.892

409.414

 

 

Purchasing of Trading goods

0.467

0.011

3.651

 

 

Wages, Contribution and bonus

109.811

93.673

91.827

 

 

Other Manufacturing Expenses

40.933

34.433

41.099

 

 

Establishment Expenses

43.263

36.689

31.896

 

 

Selling & Distribution Expenses

28.825

14.769

23.348

 

 

Fringe Benefit Tax

0.000

0.000

1.300

 

 

Increase/Decrease in Stock of Finished, Semi-Finished and Trading Goods

(13.172)

(10.930)

35.253

 

 

TOTAL                                     (B)

634.863

477.537

637.788

 

 

 

 

 

Less

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

62.894

20.855

65.993

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

14.203

6.850

14.811

 

 

 

 

 

 

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

48.781

14.005

51.182

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

4.280

4.019

4.045

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                              (G)

44.501

9.986

47.137

 

 

 

 

 

Less

TAX                                                                  (H)

11.800

4.402

18.604

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

32.701

5.584

28.533

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

15.514

13.615

4.267

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

 

Transfer to General Reserve

35.000

2.000

17.500

 

 

Proposed Dividend and Tax on Dividend

1.685

1.685

1.685

 

BALANCE CARRIED TO THE B/S

11.530

15.514

13.615

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

95.897

33.520

36.298

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

11.642

1.530

23.911

 

 

Components & Spares

68.810

24.272

5.276

 

TOTAL IMPORTS

80.452

25.802

29.187

 

 

 

 

 

 

Earnings Per Share (Rs.)

22.71

3.88

19.81

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2011

31.03.2010

31.03.2009

PAT / Total Income

(%)

4.69

1.12

4.05

 

 

 

 

 

Net Profit Margin

(PBT/Sales)

(%)

6.47

2.06

6.79

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

9.12

2.51

11.76

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.27

0.07

0.36

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

1.96

1.96

2.06

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.69

1.49

1.56

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

 

Check List by Info Agents

Available in Report [Yes/No]

Year of Establishment

Yes

Locality of the Firm

Yes

Constitution of the firm

Yes

Premises details

No

Type of Business

Yes

Line of Business

Yes

Promoters background

Yes

No. of Employees

Yes

Name of Person Contacted

Yes

Designation of contact person

Yes

Turnover of firm for last three years

Yes

Profitability for last three years

Yes

Reasons for variation <> 20%

-

Estimation for coming financial year

No

Capital the business

Yes

Details of sister concerns

No

Major Suppliers

No

Major Customers

No

Payment Terms

Yes

Export / Import Details [If Applicable]

Yes

Market Information

-

Litigations that the firm / promoter involved in

-

Banking Details

Yes

Banking Facility Details

Yes

Conduct of the banking account

-

Buyer visit details

-

Financials, if provided

Yes

Incorporation details, if applicable

Yes

Last accounts filed at ROC

Yes

Major Shareholders, if applicable

Yes

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

Yes

PAN of Proprietor/Partner/Director, if available

No

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

No

External Agency Rating, if available

No

 

SUNDRY CREDITORS DETAILS:

(Rs. In Millions)

Particulars

31.03.2011

31.03.2010

31.03.2009

 

 

 

 

Sundry Creditors

134.918

127.999

121.589

 

 

 

 

Total

134.918

127.999

121.589

 

 

FINANCIAL RESULTS

During the year the Company achieved Sales of Rs.687.400 Millions as against the sales of Rs.485.700 Millions, registering an increase of 41.53% over previous year. The Profit for the year has shown a steep rise Rs.5.600 Millions in the previous year to Rs.32.700 Millions in the year under Report registering an increase of over 484%.

 

 

FORM 8

 

Corporate identity number of the company

U24110MH1947PLC005906

Name of the company

GANSONS LIMITED

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

157/158 A, Akbar Camp Road, Sandoz Baug, Kolshet, Thane – 400607, Maharashtra, India

Email: pmrode@gansons.co.in

This form is for

Modification of charge

Charge identification (ID) number of the charge to be modified

90150295

Type of charge

Immovable property

Particular of charge holder

State Bank of India, Commercial Branch “Bullet Building” L.N Road, Dadar (East) Mumbai – 400014, Maharashtra, India

Email: sbi.04114@sbi.co.in

Nature of instrument creating charge

Memorandum of Deposit for Mortgage by Deposit of Title Deeds

Letter regarding grant of individual limits within overall limit

Date of instrument Creating the charge

27.01.2012

Amount secured by the charge

Rs.364.900 Millions

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

Rate of interest

As per sanctioned terms and conditions

 

Term of Payment:

As per sanctioned terms and conditions

 

Margin

As per sanctioned terms and conditions

 

Extent and operation of the charge

As per sanctioned terms and conditions

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

Plot No. G-10 in Nagpur Industrial Area within village limits of Sonegaon Taluka and Registration Sub-District Nagpur and registration district Nagpur adm.12000 sq. mtrs.

 

Plot No.C-5/2 in the additional Nasik Industrial Area,within village limits of Ambad Taluka and registration sub district Nasik, District and Registration District Nasik adm.4192 sq mtrs.

 

Office permises bearing no. 118  to 121 admeasuring 3869 sq.ft. in 1st floor of the building Swastik Chambers,CST Road, Chembur,Mumbai-400 071.

 

All those piece or parcels of non agricultural lands and premises situate at Village Balkum, in the registration district Thane and more particularly specified in First Schedule of Form C-10 attached to this Form.

Date of last modification prior to the present modification

27.01.2012

Particulars of the present modification

Charge originally created on 07/10/1994 by deposit of title deeds with the Bank. Now by this modification, the charge on the immovable properties of the Company extended on the aggregate sum limit of 364.900 Millions consist of Fresh Term Loan of Rs. 8.000 Millions.

 

 

Contingent Liabilities :

(Rs. In Millions)

Particulars

31.03.2011

31.03.2010

For counter guarantees to Bank

92.589

97.498

For counter claims Iodged by the customers against the Company but not accepted by the Company.

20.307

20.307

The SBI has reserved its right to claim for the recompensation amount sacrificed as per rehanilitation package sanctioned by BIFR in 1994

10.214

10.214

Excise Duty Demanded by the Department disputed by the Company in appeal

0.232

0.232

Service Tax demanded by the Department disputed by the company in appea

1.408

1.408

Sales Tax demanded by the Department disputed by the  Company in appeal

0.000

0.598

Municipal Taxes demand by Calcutta Municipal Corporation disputed by the Company appeal.

2.192

2.192

Income Tax and Interest thereon for the Assessment Year 2002-2003 demanded b the Income Tax Department but disputed by the Company in appeal.

Assessment Years               Amount

2002-2003                              0.911

2006-2007                             4.186

2007-2008                             1.158

6.255

6.255

Total

133.197

138.704

 

Fixed Assets:

 

  • Land on Perpetual Lease at Thane
  • Leasehold Land at Nagpur
  • Leasehold Land at Nashik
  • Factory Building Thane on Lease hold land
  • Factory Building Nagpur on Lease hold land
  • Factory Building Nashik on Lease hold land
  • Office Premises, Mumbai
  • Ownership Flats, Nashik
  • Office Premises Delhi
  • Machinery
  • Vehicles
  • Typewriter and Office
  • Equipment
  • Furniture and Fixture
  • Electric Fittings and Installations
  • Air Conditioners
  • R & D Machinery
  • Computer

 

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 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.51.98

UK Pound

1

Rs.83.68

Euro

1

Rs.67.20

 

 

INFORMATION DETAILS

 

 

Information Gathered by :

PJA

 

 

Report Prepared by :

BYI

 

 

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

6

--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

YES

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

46

 

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.