MIRA
INFORM REPORT
|
Report Date : |
27.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
UNITED LINER AGENCIES OF INDIA PRIVATE LIMITED |
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|
|
|
Formerly Known
As : |
UNITED LINER AGENCIES OF INDIA LIMITED |
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Registered
Office : |
Mookerjee House, 4th Floor, 17 Brabourne Road, Kolkata – 700001, West
Bengal |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
06.11.1947 |
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Com. Reg. No.: |
21-015966 |
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Capital Investment
/ Paid-up Capital : |
Rs.30.700
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U63090WB1947PTC015966 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALU01560G/ CALU00859F |
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PAN No.: [Permanent Account No.] |
AAACU5182C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The Company’s Principal business includes Shipping Agency and
operating a Container Freight Station. |
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (61) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums. |
Fairly Large |
|
Maximum Credit Limit : |
USD 7700000 |
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|
|
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed company having good track. Financial position of the company appears to be sound. Fundamental are
healthy and strong. Trade relations are reported to be fair. Business is
active. Payments are reported to be regular and as per commitments. The company can be considered for normal business dealing 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 |
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 : |
Mookerjee House, 4th Floor, 17 Brabourne Road, Kolkata – 700001, West
Bengal, India |
|
Tel. No.: |
91-33-22421880/ 4211/ 4214/ 4220/ 22425117/ 22432749/ 22428223 |
|
Fax No.: |
91-33-22423676/ 22310008 |
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E-Mail : |
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Website : |
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Head Office 1: |
2A and 2B, Ground Floor, Raja Bahadur Mansion, 26 Mumbai –
400001, Maharashtra, India |
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Tel. No.: |
91-22-22710500 |
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Fax No.: |
91-22-22693638 |
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E-Mail : |
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Head Office 2: |
1st Floor, Sapt
Building, 18 J N Heredia Marg, Near Grand Hotel, Ballard Estate, Fort, Mumbai
– 400001, Maharashtra, India |
|
Tel No.: |
91-22-22710500/ 22631393 |
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Email : |
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Branch Office : |
Located at: · Agra · Ahmedabad · Chennai · Cochin · Goa · Coimbatore · Gangavaram · Haldia · Hyderabad · Indore · Jaipur · Jamnagar · Jodhpur · JNPT Nhava Sheva · Kakinada · Kanpur · Kandla · Karwar · Kolkata · Krishnapatnam · Ludhiana · Mangalore · Moradabad · Mumbai · Mundra · Nagpur · New Delhi · Paradip · Pipavav · Pune · Tuticorin · Visakhapatnam |
DIRECTORS
(AS ON 29.09.2011)
|
Name : |
Mr. Naresh Jayantilal Kotak |
|
Designation : |
Whole time Director |
|
Address : |
Carlton Terrce, 35-C Bhulabhai Desai Road, Mumbai – 400026,
Maharashtra, India |
|
Date of Birth/Age : |
27.12.1940 |
|
Date of Appointment : |
01.06.1978 |
|
PAN No.: |
AADPK7084K |
|
DIN No.: |
00009707 |
|
|
|
|
Name : |
Mr. Krishna Bhagwan Kotak |
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Designation : |
Director |
|
Address : |
18, Kalpana, 96- B N Subhash Road, Mumbai – 400002, Maharashtra, India
|
|
Date of Birth/Age : |
24.03.1961 |
|
Date of Appointment : |
24.06.1983 |
|
PAN No.: |
AADPK6366L |
|
DIN No.: |
00010788 |
KEY EXECUTIVES
|
Name : |
Mr. Barun Kanti Roy |
|
Designation : |
Company Secretary |
|
Address : |
84/17, Rai Bahadur Road, Behala, Kolkata – 700034, West Bengal, India |
|
Date of Birth/ Age : |
26.03.1956 |
|
Date of Appointment : |
02.01.2009 |
|
PAN No.: |
ADEPR0805K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 29.09.2011)
|
Names of Shareholders |
|
No. of Shares (Equity) |
|
|
|
|
|
Naresh Jayantilal Kotak |
|
1000000 |
|
Krishna Bhagwan Kotak |
|
1000000 |
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|
|
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Total |
|
2000000 |
|
|
||
|
Names of Shareholders |
|
No. of Shares (Equity) |
|
|
|
|
|
German Express Shipping Agencies (Indi) Private Limited, India |
|
55000 |
|
Arya Offshore Services Private Limited, India |
|
20000 |
|
Ksteamship Agencies private Limited India |
|
10000 |
|
Contfreight Shipping Agencies Private Limited, India |
|
15000 |
|
Boxtrans Shipping Agencies Private Limited, India |
|
7000 |
|
|
|
|
|
Total |
|
107000 |
(AS ON 15.03.2012)
|
Names of Allottees |
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No. of Shares
Allotted |
|
|
|
|
|
Arya Offshore Services Private Limited, India |
|
30000 |
|
|
|
|
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Total |
|
30000 |
(AS ON 112.12.2011)
|
Names of Allottees |
|
No. of Shares
Allotted |
|
|
|
|
|
Arya Offshore Services Private Limited, India |
|
200000 |
|
|
|
|
|
Total |
|
200000 |
(AS ON 30.09.2011)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company’s Principal business includes Shipping Agency and
operating a Container Freight Station. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
· Yes Bank Limited 9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, India · HSBC Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Ford, Rhodes, Parks and Company Chartered Accountant |
|
Address : |
15, Chittaranjan Avenue, Kolkata - 700072, West Bengal, India |
|
PAN No.: |
AAAFF1843L |
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Subsidiary
Company : |
· Visakha Container Terminal Private Limited |
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|
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Joint Ventures : |
· Boxtrans Logistics (India) Services Private Limited · ‘K’ Line India Private Limited |
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|
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Associate
Companies and Firms over which key management personnel and their relatives
are substantially interested - |
· Arya Collateral Warehousing Services Private Limited · Arya Communication and Electronics Private Limited · Aryadoot Transport Private Limited · Arya Financial and Investment Consultant. Services Private Limited · Arya Offshore Services Private Limited · Arya Oilfield Services Private Limited · Arya Trading and Services Private Limited · Atithi Hotels Private Limited · Baxico Project Management Services Private Limited · Boxtrans Shipping Agencies Private Limited · Cardinal Air Transport Company Private Limited · Confreight Shipping Agency India Private Limited · Container Movement (Bombay)Transport Private Limited · German Express Shipping Agencies India Private Limited · India Container Terminal Private Limited · Jet-Aiu Skyline Transport Private Limited · J. M. Baxi and Company · K' Steamship Agencies Private Limited · L.D. Trading (India) Private Limited · Liftshift Transport Company (Bombay) Private Limited · Malgham Brothers · N. Jamnadas and Company · Sagar Offshore Drilling Company Private Limited · Siddhi Shipping Private Limited. · Sorabji and Company Private Limited · Tai-pan Construction Private Limited · Tai-pan Shipping Private Limited · Tai-pan Transport (India) Private Limited · United Liner Agencies -Stevedores · Unitex Products Private Limited · Varuna Offshore Drilling Services Private Limited · Varuna Offshore Transport Services Private Limited · Western Star Line Private Limited |
CAPITAL STRUCTURE
(AS ON 29.09.2011)
Authorised Capital : Rs.71.000
Millions
Issued, Subscribed & Paid-up Capital : Rs.48.200 Millions
(AS ON 31.03.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3500000 |
Equity Shares |
Rs.10/- each |
Rs.35.000 Millions |
|
150000 |
4% Cumulative Optionally Fully Convertible/ Redeemable Preference
Shares |
Rs.100/- each |
Rs.15.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.50.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs.10/- each |
Rs.20.000
Millions |
|
107000 |
4% Cumulative Optionally Fully Convertible/ Redeemable Preference
Shares |
Rs.100/- each |
Rs.10.700
Millions |
|
307000 |
|
|
|
|
|
Total |
|
Rs.30.700 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 |
30.700 |
30.700 |
30.700 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1902.558 |
1727.936 |
1570.909 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1933.258 |
1758.636 |
1601.609 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
28.711 |
110.017 |
161.319 |
|
|
2] Unsecured Loans |
40.000 |
0.000 |
192.793 |
|
|
TOTAL BORROWING |
68.711 |
110.017 |
354.112 |
|
|
DEFERRED TAX LIABILITIES |
16.102 |
20.261 |
22.817 |
|
|
|
|
|
|
|
|
TOTAL |
2018.071 |
1888.914 |
1978.538 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
655.108 |
692.830 |
694.545 |
|
|
Capital work-in-progress |
6.901 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
1209.158 |
705.758 |
705.724 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
30.151
|
27.345 |
45.072 |
|
|
Cash & Bank Balances |
129.298
|
397.567 |
469.579 |
|
|
Other Current Assets |
0.420
|
0.866 |
1.327 |
|
|
Loans & Advances |
726.431
|
623.154 |
613.488 |
|
Total
Current Assets |
886.300
|
1048.932 |
1129.466 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
133.931
|
121.119 |
168.632 |
|
|
Other Current Liabilities |
105.903
|
96.849 |
100.112 |
|
|
Provisions |
499.962
|
341.088 |
283.022 |
|
Total
Current Liabilities |
739.796
|
559.056 |
551.766 |
|
|
Net Current Assets |
146.504
|
489.876 |
577.700 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.400 |
0.450 |
0.569 |
|
|
|
|
|
|
|
|
TOTAL |
2018.071 |
1888.914 |
1978.538 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL (A) |
1049.000 |
1025.200 |
1162.060 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
652.400 |
657.200 |
|
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
396.600 |
368.000 |
(Including
Financial expenses and Depreciation) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
12.100 |
24.800 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
384.500 |
343.200 |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
66.400 |
67.700 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
318.100 |
275.500 |
425.454 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
116.000 |
44.600 |
26.551 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
202.100 |
230.900 |
398.903 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Prior years’ adjustment - |
-- |
14.900 |
NA |
|
|
|
Adjustment of Taxes for earlier years |
(43.000) |
-- |
|
|
|
|
Transfer to General Reserve |
60.000 |
56.000 |
NA |
|
|
|
Proposed Dividend -On Preference Shares -On Equity Shares |
0.400 60.000 |
0.400 50.000 |
NA NA |
|
|
|
Tax on Dividend |
10.000 |
8.600 |
NA |
|
|
BALANCE CARRIED
TO THE B/S |
114.700 |
101.000 |
NA |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Commission Earnings |
67.523 |
58.808 |
46.724 |
|
|
|
Other Earnings |
50.050 |
44.493 |
13.081 |
|
|
TOTAL EARNINGS |
117.573 |
103.301 |
59.805 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
65.83 |
115.23 |
199.50 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
19.27
|
22.52 |
34.33 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.64
|
15.82 |
23.33 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.16 |
0.27 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.42
|
0.38 |
0.57 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.20
|
1.88 |
2.05 |
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 |
No |
|
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 |
Management
Discussion and Analysis:
a) Company
Performance:
During the year,
the Company recorded a total income of Rs.1049.000 Millions (previous year
Rs.1025.200 Millions) and earned a PBIDT of Rs.396.600 Millions (previous year
Rs.368.000 Millions). After Interest and provision for depreciation, the
Company made a PBT of Rs.318.100 Millions (Previous year Rs.275.500 Millions).
After providing Tax aggregating to Rs.120.000 Millions (previous year Rs.46.900
Millions) the Company earned a PAT of Rs.202.100 Millions (Previous year
Rs.230.900 Millions). Out of the available surplus, the Company transferred
Rs.60.000 Millions (Previous year – Rs.56.000 Millions) to General Reserve and
declared dividend @ 300% (Previous year 250%).
The Company’s
business consists of liner agencies and Container Freight Station (CFS)
operation. With the global economy remaining suppressed, slowdown in the
shipping industry continues and dry bulk market remained subdued during the
year. Containerized trade volumes although seen picking up at the beginning of
the year, did not continued for long due to slowdown of Westbound and
transpacific Eastbound trade volume in later part of the year. The Company’s
liner agencies business has suffered in the midst of this subdued market and
competitions in the domestic market. CFS operation also suffered due to this
slowdown and global economic uncertainty.
b) Present
Industry structure and effect on Company’s performance
The global
economic output increased by about 5% in the last year, however the process of recovery
is slow. The present economic growth was mainly propelled by China, India , and
other transpacific Asian countries but the recent inflationary circumstances
curtailed the growth. There is slowdown in Japanese imports as well. The US
economy with it’s recovery process underway, is still fighting the odds and the
same is with European Union. Therefore the overall recovery remains fragile and
is not as projected earlier. Under the aforesaid background, the Company’s
Container services and liner agency business were operated with specific thrust
on increasing marketing efforts and cost optimization so as to maximize the
yield. The World GDP is expected to return to sustained growth in near future
and barring unforeseen circumstances, should thereby help push tonnage demand
for the world merchant fleet into growth again, thus improving Company’s
performance in liner agencies as well as CFS operation.
FORM 8
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U63090WB1947PTC015966 |
|
Name of the
company |
United Liner
Agencies of India Private Limited |
|
Address of the
registered office or of the principal place of business in |
17 Brabourne Road, Kolkata – 700001, West Bengal, India |
|
Type of charge |
Book Debts Movable Property |
|
Particular of
charge holder |
Yes Bank Limited 9th
Floor, Nehru centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai
– 400018, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
Deed of
Hypothecation dated 12/07/2012 executed in favour of YES Bank Limited
creating first Pari Passu charge on whole of the Current Assets, both present
and future, for the purpose of securing working capital facility of
Rs.300.000 Millions granted by Yes Bank to the Company. |
|
Date of
instrument Creating the charge |
12/07/2012 |
|
Amount secured by
the charge |
Rs.300.000
Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest Bank Guarantee
Commission of 1.75% / 1.00% p.a. on Non Revolving/ Revolving Bank Guarantee
and Interest on cash credit at Yes Bank Base rate + 2% (Effective ROI - 12.5%
pa) Terms of
Repayment In terms of
facility letter No.YBL/MUM/FL/319/2012-2013 dated July 10, 2012. Margin Borrower shall at
all times during the continuance of this security, keep and maintain such
margin of security in favour of the Yes Bank Limited as may be notified by
the Yes Bank from time to time. Extent and
Operation of the charge The Working Capital
Facility with commission, interest, costs, fees, expenses and all monies
payable in terms of the Working Capital facilities, is secured by a first
pari passu charge by way of hypothecation of the current assets, as more
particularly described in the Deed of Hypothecation dated 12/07/2012. |
|
Short particulars
of the property charged |
Whole of the
Current Assets, both present and future. Book Debts and
receivables. |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Other Equipments
·
Furniture and Fixtures
·
Vehicles
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 : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
61 |
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.