MIRA
INFORM REPORT
|
Report Date : |
27.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
SBS PAPER RECYCLING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No.57, Arathoon Road, Royapuram, Chennai – 600013, Tamil
Nadu |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
16.04.2004 |
|
|
|
|
Com. Reg. No.: |
18-052976 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.4.600 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U21099TN2004PTC052976 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHES21367D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAICS2319F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trading in Paper Wastes |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 26000 |
|
|
|
|
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 some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 / Head Office : |
No.57, Arathoon Road, Royapuram, Chennai – 600013, Tamil
Nadu, India |
|
Tel. No.: |
91-44-42175522 / 42175533 |
|
Fax No.: |
91-44-25982797 |
|
E-Mail : |
|
|
|
|
|
Facility 1 : |
Shed No. 404, Phase
XVII, Sidco Industrial Estate, Ambattur, Chennai – 600 098, Tamil Nadu, India |
|
Tel. No.: |
91-44-43111769 |
|
|
|
|
Facility 2 : |
No. 110 Ellayamudali Street,
Tondiarpet, Chennai – 600 081, Tamilnadu, India |
|
Tel. No.: |
91-44-25985019 |
|
E-Mail : |
DIRECTORS
As on 26.09.2011
|
Name : |
Mr. Sanatkumar Bhavanji Sundarani |
|
Designation : |
Director |
|
Address : |
Samarpn 3A, III
Floor, New No.21, Old No.12, 9th Street, Dr. Radha Krishnan Salai, Mylapore,
Chennai, 600004, Tamil Nadu, India |
|
Date of Birth/Age : |
31.05.1937 |
|
Date of Appointment : |
16.04.2004 |
|
DIN No.: |
00568711 |
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 |
U60222TN1986PTC013540 |
STP
SERVICES PRIVATE LIMITED |
Director |
30/09/1991 |
30/09/1991 |
- |
Active |
NO |
|
2 |
U21099TN2004PTC052976 |
SBS PAPER
RECYCLING PRIVATE LIMITED |
Director |
16/04/2004 |
16/04/2004 |
- |
Active |
NO |
|
Name : |
Mr. Rajesh Sanatkumar Sundarani |
|
Designation : |
Director |
|
Address : |
Samarpn 3A, III Floor, New No.21, Old No.12, 9th Street, Dr. Radha Krishnan
Salai, Mylapore, Chennai, 600004, Tamil Nadu, India |
|
Date of Birth/Age : |
02.11.1967 |
|
Date of Appointment : |
16.04.2004 |
|
DIN No.: |
00568772 |
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 |
U60222TN1986PTC013540 |
STP
SERVICES PRIVATE LIMITED |
Director |
30/09/2002 |
30/09/2002 |
- |
Active |
NO |
|
2 |
U21099TN2004PTC052976 |
SBS
PAPER RECYCLING PRIVATE LIMITED |
Director |
16/04/2004 |
16/04/2004 |
- |
Active |
NO |
|
Name : |
Mr. Linesh Sanatkumar |
|
Designation : |
Director |
|
Address : |
Samarpn 3A, III Floor, New No.21, Old No.12, 9th Street, Dr. Radha
Krishnan Salai, Mylapore, Chennai, 600004, Tamil Nadu, India |
|
Date of Birth/Age : |
03.01.1966 |
|
Date of Appointment : |
02.08.2004 |
|
DIN No.: |
00568399 |
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 |
U60222TN1986PTC013540 |
STP
SERVICES PRIVATE LIMITED |
Director |
30/09/1991 |
30/09/1991 |
- |
Active |
NO |
|
2 |
U63032TN1995PTC033291 |
SAMUDRA
CONTAINER TERMINALS PRIVATE LIMITED |
Director |
19/10/1995 |
19/10/1995 |
- |
Active |
NO |
|
3 |
U21099TN2004PTC052976 |
SBS
PAPER RECYCLING PRIVATE LIMITED |
Director |
02/08/2004 |
02/08/2004 |
- |
Active |
NO |
|
4 |
U32301TN1994PLC028160 |
PRASAD
CORPORATION LIMITED |
Director |
28/09/2007 |
25/09/2007 |
- |
Active |
NO |
|
5 |
U63090TN2008PTC065953 |
Viking
Stevedoring and Logistics Private Limited |
Director |
07/01/2008 |
07/01/2008 |
- |
Strike
off |
NO |
|
6 |
U63012TN1997PTC038157 |
VIKING
SHIPPING (CHENNAI) PRIVATE LIMITED |
Additional
director |
02/04/2008 |
02/04/2008 |
- |
Active |
NO |
|
7 |
AAA-0082 |
RED
BAMBOO SPECIALITY FOODS LLP |
Designated
Partner |
28/07/2009 |
28/07/2009 |
- |
Active |
NO |
|
Name : |
Ms. Rajshri Linesh |
|
Designation : |
Director |
|
Address : |
Samarpn 3A, III Floor, New No.21, Old No.12, 9th Street, Dr. Radha Krishnan
Salai, Mylapore, Chennai, 600004, Tamil Nadu, India |
|
Date of Birth/Age : |
09.03.1969 |
|
Date of Appointment : |
02.08.2004 |
|
DIN No.: |
02675220 |
|
|
|
|
Name : |
Ms. Sonal Rajesh Sanatkumar Sundrani |
|
Designation : |
Director |
|
Address : |
Samarpn 3A, III Floor, New No.21, Old No.12, 9th Street, Dr. Radha
Krishnan Salai, Mylapore, Chennai, 600004, Tamil Nadu, India |
|
Date of Birth/Age : |
06.12.1971 |
|
Date of Appointment : |
02.08.2004 |
|
DIN No.: |
02675223 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 26.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Rajesh Sanatkumar |
|
10000 |
|
Sanatkumar Bhavanji |
|
23500 |
|
Linesh Sanatkumar |
|
10000 |
|
S.Kalpana |
|
250 |
|
S.Tanuja |
|
250 |
|
Rajshri Linesh |
|
1000 |
|
Sonal Rajesh Sundrani |
|
1000 |
|
Total |
|
46000 |
As on 26.09.2011
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 : |
Trading in Paper Wastes |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
·
HDFC Bank, HDFC Bank House, Senapati Bapat Marg,
Lower Parel (West), Mumbai – 400013, Maharashtra, India ·
Bank of India, Chennai Main Branch, 30, Errabalu
Street, Chennai - 600001, Tamil Nadu,
India ·
State Bank of India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
A Sridhar Alse Chartered Accountant |
|
Address : |
G-2, "Soorya Gruha", 10/1 Senthilandavar Road, Dhanalakshmi Colony,
Vadapalani, Chennai – 600026, Tamil Nadu, India |
|
PAN No.: |
AADPA9639C |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
46000 |
Equity Shares |
Rs.100/- each |
Rs.4.600
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 |
4.600 |
4.600 |
3.800 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1.872 |
0.709 |
0.028 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
6.472 |
5.309 |
3.828 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
25.430 |
27.512 |
19.372 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
25.430 |
27.512 |
19.372 |
|
|
DEFERRED TAX LIABILITIES |
0.033 |
0.108 |
0.144 |
|
|
|
|
|
|
|
|
TOTAL |
31.935 |
32.929 |
23.344 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
20.643 |
20.770 |
11.101 |
|
|
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 |
10.059
|
11.812 |
6.545 |
|
|
Sundry Debtors |
9.868
|
8.519 |
10.490 |
|
|
Cash & Bank Balances |
0.162
|
0.114 |
0.174 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
1.617
|
1.843 |
1.757 |
|
Total
Current Assets |
21.706
|
22.288 |
18.966 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
9.842
|
9.764 |
6.347 |
|
|
Other Current Liabilities |
0.000
|
0.007 |
0.135 |
|
|
Provisions |
0.625
|
0.420 |
0.312 |
|
Total
Current Liabilities |
10.467
|
10.191 |
6.794 |
|
|
Net Current Assets |
11.239
|
12.097 |
12.172 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.053 |
0.062 |
0.071 |
|
|
|
|
|
|
|
|
TOTAL |
31.935 |
32.929 |
23.344 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
150.394 |
117.221 |
117.863 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
148.648 |
116.013 |
116.441 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
1.746 |
1.208 |
1.422 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.625 |
0.420 |
0.312 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
1.121 |
0.788 |
1.110 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
24.00 |
17.00 |
29.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.74
|
0.67 |
0.94 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.12
|
2.81 |
4.73 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27
|
0.23 |
0.37 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.55
|
7.10 |
6.84 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.07
|
2.19 |
2.79 |
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 |
No |
|
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
“No.36, East Kalmandapam Road, Royapuram, Chennai - 600 013, Tamil Nadu, India”
to the present address w.e.f. 10.02.2006.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U21099TN2004PTC052976 |
|
Name of the company |
SBS PAPER RECYCLING PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
No.57, Arathoon Road, Royapuram, Chennai – 600013, Tamil Nadu, India E-mail Id : sbsrecycling@eth.net |
|
This form is for |
Creation of charge |
|
Type of charge |
Movable property (not being pledge) |
|
Particular of charge holder |
HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel W, Mumbai – 400013, Maharashtra, India E-mail Id : Ranjith.Fernando@hdfcbank.com |
|
Nature of instrument creating charge |
Agreement Loan and Guarantee. Contracts No: 80275723 = Rs.1.250 Millions |
|
Date of instrument Creating the charge |
19.03.2012 |
|
Amount secured by the charge |
Rs.1.250 Millions |
|
Brief of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest @12.76 % p.a. Terms of Repayment The Loan is repayable in 23EMIs of Rs.61550 /- Starting from 15th April, 2012 ending to 15th February, 2014 Margin As may stipulated by bank from time to time Extent and Operation of the charge The Company hypothecates to and charges in favour of the Bank by way of first and exclusive charge of the Vehicle/ equipment described in Item No. 15 as security for the repayment/payment by the company of the loan granted or to be granted to the company by the Bank together with all fees, interest, costs and expenses incurred/to be incurred by the Bank and all other monies payable or to become payable by the company to the Bank. Others The Bank shall be absolutely entitled and have full power and authority to sell, assign or transfer in any manner, in whole or in part, and in such manner and on such terms as the Bank may decide, including reserving a right to the Bank to retain its power to proceed against the company on behalf of the purchaser, assignee or transferee, any or all outstanding dues of the company, to any third party of the Bank's choice without reference to or without written intimation to the company |
|
Short particulars of the property or asset(s) charged (including complete address and location of the property) |
Hypothecation of 1no of equipment namely : Palfinger Crane PK 10000 A, (year of manufacturer - 2012 ) |
FIXED ASSETS:
· Land
· Building
· Furniture and Fittings
· Machineries and Equipments
· Computer and Accessories
· Motor Van
WEBSITE DETAILS:
CORPORATE PROFILE
Their main focus is wastepaper, and their primary goal is to control the quality and provide prompt service and efficient delivery of goods at competitive price. The main important function of Subject is that to maintain the quality that their buyers require. Their company is also an authorized collector from Tamilnadu Pollution Control Board.
Subject has three collections centres with sorting and bailing facility in the
city of Chennai, one each located in Royapuram, Tondiarpet and Ambattur. They
are currently supplying domestic wastepaper to over 30 paper mills all over
India.
To achieve this goal they collect wastepaper from offices, banks, industries,
BPO, printing presses, factories, education institiutions, and all over Chennai
city. The material is sorted and baled by experienced work force at any one of
their collection centers. The material is then dispatched in totality to
papermills for recycling into finished paper.
They have several teams for waste packing, document destruction, vans for
collection, forklifts and sorting/grading facility, along with an automatic
bailing facility for upto 75 tons per day and over 30,000 sq. feet of covered
godown space at their collection centers. They offer prompt clearance of
wastepaper with experienced manpower to handle all grades of wastepaper.
Inorder to meet the requirement of their customers besides domestic waste as
mentioned above, they also supply imported wastepaper from USA, Europe, Middle
East, Australia/New Zealand, Sri Lanka, Israel and Africa.
1. Mr. Sanatkumar B Sundrani – Managing Director - who has over 40 years of experience in the business of recovered fiber.
2. Mr. Linesh S Sundrani – Director (M.B.A in Finance) – Takes care of the
financial aspects of the company and logistics and has an experience in this
field for the past 18 years.
3. Mr. Rajesh S Sundrani – Executive Director – (B.E.Chemical and M.S in Master
Chemical/Paper Technology, USA) – Manages the day to day affairs of the company
in purchase and sales and the baling plant operations and has an experience in
this field for the past 15 years.
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.53.63 |
|
|
1 |
Rs.86.18 |
|
Euro |
1 |
Rs.69.75 |
INFORMATION DETAILS
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
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 |
- |
7
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.