|
Report Date : |
13.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
JIN PLAST (INDIA) LIMITED |
|
|
|
|
Registered
Office : |
No.29, Narayana Mudali Street, 1st Floor, Chennai –
600078, Tamil Nadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
30.06.1995 |
|
|
|
|
Com. Reg. No.: |
18-032087 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.6.636 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209TN1995PLC032087 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Plastic Moulded Furniture |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 71000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. However, trade relations are reported to be
fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with slight
caution. |
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) |
|
India |
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 |
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 : |
No.29, Narayana Mudali Street, 1st Floor, Chennai –
600078, Tamil Nadu, India |
|
Tel. No.: |
91-44-25382151 / 25380977 / 25363102 |
|
Fax No.: |
91-44-25380510 |
|
E-Mail : |
|
|
|
|
|
Factory : |
SP 127, SIDCO Industrial Estate, Ambattur, Chennai – 600098, Tamilnadu, India |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Dilip Kumar Chhalani |
|
Designation : |
Director |
|
Address : |
4 Elakandappan Street, Chennai- 600003, Tamilnadu, India |
|
Date of Birth/Age : |
26.03.1957 |
|
Date of Appointment : |
30.06.1995 |
|
DIN No.: |
00098148 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U25209TN1987PTC015092 |
CHHALANI
PLASTICS PRIVATE LIMITED |
Director |
27/11/1987 |
27/11/1987 |
01/09/2010 |
Active |
NO |
|
2 |
U25209TN1995PLC032087 |
JIN
PLAST (INDIA) LIMITED |
Director |
30/06/1995 |
30/06/1995 |
- |
Active |
NO |
|
Name : |
Mr. Binith Kumar Chhalani |
|
Designation : |
Director |
|
Address : |
4 Elakandappan Street, Chennai- 600003, Tamilnadu, India |
|
Date of Birth/Age : |
05.05.1963 |
|
Date of Appointment : |
30.06.1995 |
|
DIN No.: |
00098140 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U25209TN1987PTC015092 |
CHHALANI
PLASTICS PRIVATE LIMITED |
Director |
27/11/1987 |
27/11/1987 |
01/09/2010 |
Active |
NO |
|
2 |
U25209TN1995PLC032087 |
JIN
PLAST (INDIA) LIMITED |
Director |
30/06/1995 |
30/06/1995 |
- |
Active |
NO |
|
Name : |
Mr. Mukesh Kumar Chhalani |
|
Designation : |
Director |
|
Address : |
4 Elakandappan Street, Chennai- 600003, Tamilnadu, India |
|
Date of Birth/Age : |
20.06.1960 |
|
Date of Appointment : |
30.06.1995 |
|
DIN No.: |
00098127 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U25209TN1987PTC015092 |
CHHALANI
PLASTICS PRIVATE LIMITED |
Director |
27/11/1987 |
27/11/1987 |
01/09/2010 |
Active |
NO |
|
2 |
U25209TN1995PLC032087 |
JIN
PLAST (INDIA) LIMITED |
Director |
30/06/1995 |
30/06/1995 |
- |
Active |
NO |
|
Name : |
Mr. Deepak Chhalani |
|
Designation : |
Director |
|
Address : |
4 Elakandappan Street, Chennai- 600003, Tamilnadu, India |
|
Date of Birth/Age : |
07.11.1974 |
|
Date of Appointment : |
01.09.2010 |
|
DIN No.: |
02900243 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U25209TN1987PTC015092 |
CHHALANI
PLASTICS PRIVATE LIMITED |
Director |
26/12/2009 |
26/12/2009 |
01/09/2010 |
Active |
NO |
|
2 |
U25209TN1995PLC032087 |
JIN
PLAST (INDIA) LIMITED |
Director |
01/09/2010 |
01/09/2010 |
- |
Active |
NO |
|
3 |
U74999TN2011PTC081943 |
ENTERPRISING
FAIRS (INDIA) PRIVATE LIMITED |
Whole-time
director |
17/08/2011 |
17/08/2011 |
- |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Deepak |
|
Designation : |
Office Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Ranjit Kumar Chhalani, S/o.Manak Chand Chhalani |
|
230500 |
|
Dilip Kumar Chhalani, S/o.Manak Chand Chhalani |
|
68000 |
|
Rajesh Kumar Chhalani, S/o.Manak Chand Chhalani |
|
90000 |
|
Mukesh Kumar Chhalani, S/o.Manak Chand Chhalani |
|
98000 |
|
Binith Kumar Chhalani, S/o.Manak Chand Chhalani |
|
68000 |
|
Sushil Chhalani, W/o. Dilip Kumar Chhalani |
|
4000 |
|
Suman Chhalani, W/o.Mukesh Kumar Chhalani |
|
4000 |
|
Sushma Chhalani, W/o.Ranjit Kumar Chhalani |
|
12000 |
|
Rashmi Chhalani, W/o.Rajesh Kumar Chhalani |
|
3000 |
|
Ritu Chhalani, D/o.Dilip Kumar Chhalani |
|
2000 |
|
Neha Chhalani, D/o.Dilip Kumar Chhalani |
|
4000 |
|
Deepak Kumar Chhalani S/o.Ranjit Kumar Chhalani |
|
54100 |
|
Adhitya Chhalani |
|
1500 |
|
Sonu Chhalani |
|
1500 |
|
Total |
|
640600 |
List of Allottees
As on 14.02.2012
|
Names of Allottees |
|
No. of Shares
Allotted |
|
|
|
|
|
Ranjit Kumar Chhalani |
|
10000 |
|
Deepak Kumar Chhalani |
|
1000 |
|
Rajesh Kumar Chhalani |
|
12000 |
|
Total |
|
23000 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Plastic Moulded Furniture |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Bankers : |
Oriental Bank of Commerce,
769 Anna Salai, Mount Road Branch, Chennai - 600002, Tamil Nadu, India |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R R More and Company Chartered Accountants |
|
Address : |
356 Mint Street, Sowcarpet, Chennai – 600079, Tamilnadu, India |
|
PAN No.: |
AAJPM4999F |
|
|
|
|
Related Parties : |
Chhalani Plastics Private Limited |
CAPITAL STRUCTURE
After 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
663600 |
Equity Shares |
Rs.10/- each |
Rs.6.636
Millions |
|
|
|
|
|
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
630600 |
Equity Shares |
Rs.10/- each |
Rs.6.306
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 |
6.306 |
5.705 |
5.705 |
|
|
2] Share Application Money |
0.000 |
3.660 |
0.360 |
|
|
3] Reserves & Surplus |
11.511 |
5.359 |
4.565 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
17.817 |
14.724 |
10.630 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
58.420 |
39.155 |
21.134 |
|
|
2] Unsecured Loans |
5.229 |
3.634 |
2.893 |
|
|
TOTAL BORROWING |
63.649 |
42.789 |
24.027 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
81.466 |
57.513 |
34.657 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
45.040 |
36.929 |
13.465 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
27.867
|
17.929 |
9.323 |
|
|
Sundry Debtors |
16.156
|
7.075 |
10.485 |
|
|
Cash & Bank Balances |
2.270
|
0.348 |
0.158 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
4.600
|
2.922 |
5.768 |
|
Total
Current Assets |
50.893
|
28.274 |
25.734 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
9.501
|
6.799 |
2.825 |
|
|
Other Current Liabilities |
4.470
|
0.749 |
1.509 |
|
|
Provisions |
0.496
|
0.191 |
0.208 |
|
Total
Current Liabilities |
14.467
|
7.739 |
4.542 |
|
|
Net Current Assets |
36.426
|
20.535 |
21.192 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.049 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
81.466 |
57.513 |
34.657 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
80.764 |
44.269 |
46.963 |
|
|
|
Other Income |
0.298 |
0.394 |
0.007 |
|
|
|
TOTAL (A) |
81.062 |
44.663 |
46.970 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
(Increase) / Decrease in Stock - Finished Goods |
(9.938) |
(8.605) |
(1.334) |
|
|
|
Purchases and Direct Expenses |
76.752 |
47.488 |
44.298 |
|
|
|
Employees Remuneration and Benefits |
0.239 |
0.236 |
0.286 |
|
|
|
Administrative and other expenses |
0.674 |
0.671 |
0.441 |
|
|
|
Selling & Distribution Expense |
0.150 |
0.018 |
0.014 |
|
|
|
TOTAL (B) |
67.877 |
39.808 |
43.705 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
13.185 |
4.855 |
3.225 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
6.118 |
1.754 |
1.527 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
7.067 |
3.101 |
1.738 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5.856 |
2.141 |
0.777 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1.211 |
0.960 |
0.961 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.496 |
0.165 |
0.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
0.715 |
0.795 |
0.861 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2.427 |
1.632 |
0.771 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
3.142 |
2.427 |
1.632 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.13 |
1.39 |
1.51 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.88
|
1.78 |
1.83 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.50
|
2.17 |
2.05 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.26
|
1.47 |
2.45 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.07 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.38
|
3.43 |
2.69 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.52
|
3.65 |
5.67 |
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 |
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 |
No |
NOTE:
The registered office address of the company
has been shifted from “18, Kasi Chetty Street, Chennai- 600001,
Tamilnadu, India” to the present address w.e.f. 23.11.2009.
INDUSTRY OVERVIEW:
During the year, the company recorded a sales turnover of Rs.80.764 millions (Previous year Rs.44.269 millions) and made a profit before tax was at Rs.1.211 millions as against Rs. 0.960 million during previous year. The directors are taking all possible efforts to improve the product quality and with the good market response and better order booking position, the Directors are confident of achieving better performance in the current year.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U25209TN1995PLC032087 |
|
Name of the company |
JIN PLAST (INDIA) LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
No.29, Narayana Mudali Street, 1st Floor, Chennai – 600078, Tamil
Nadu, India E-mail Id : jinplast@yahoo.co.in |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10061388 |
|
Type of charge |
Book debts Movable property (not being pledge) Floating charge |
|
Particular of charge holder |
Oriental Bank of Commerce, 769 Anna Salai, Mount Road Branch, Chennai
- 600002, Tamil Nadu, India E-mail Id : bm0165@obc.co.in |
|
Nature of instrument creating charge |
Agreement of Term Loan dt.4/02/2011 - Term Loan of Rs.13.182 Millions Supplemental Agreement to secure credit/loan facilities dt.4/2/2011
Rs.40.000 Millions (CC Rs.250 lacs+LC:Rs.15.000 Millions) Agreement of Hypothecation of assets dt.4/2/2011 for Rs.40.000
Millions (CC Rs.25.000 Millions +LC:Rs.15.000 Millions) |
|
Date of instrument Creating the charge |
04.02.2011 |
|
Amount secured by the charge |
Rs.53.182 Millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest TL and CC: BR+5.25% (the present base rate of the bank s 9%pa) which
works out to 14.25% p.a. with monthly rests. Penal interest @ 2% pa over and
above the rate of overdrawn portion. Terms of Repayment TL: Repayable in 60 EMIs @ Rs.0.309 Million each. The first
installments shall commence after an initial moratorium of 6 months from the
date of first disbursement. CC and LC: Term of sanction: one year upto 31.1.2012. Margin TL: 25%: CC 25% Extent and Operation of the charge TL: Hypothecation of plant and machinery CC: Hypothecation of stocks of raw materials, SIP, finished goods of
plastic products etc. consumable stores and spares and entire receivables. |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
Hypothecation of plant and machinery Hypothecation of stocks of raw materials, SIP, finished goods of
plastic products etc. consumable stores and spares and entire receivables. |
|
Date of instrument modifying the charge |
27.04.2009 |
|
Particulars of the present modification |
The present modification comprises of fresh term loan of Rs.13.182
Millions and revised credit limits of CC: 25.000 Millions and LC: 15.000
Millions, all total credit limits aggregating to Rs.53.182 Millions were
secured by the company's property as
mentioned under S.No.15 above and the documents attached herewith. |
FIXED ASSETS:
· Land
· Factory building
· Computer
· Office Equipment
· Electrical Fittings
· Plant and Machinery
· Dyes and Moulds
· Ace Car
· Furniture and Fittings
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.52.70 |
|
|
1 |
Rs.84.51 |
|
Euro |
1 |
Rs.68.16 |
INFORMATION DETAILS
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
36 |
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.