MIRA
INFORM REPORT
|
Report Date : |
30.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
AGARVANSHI ALUMINIUM LIMITED |
|
|
|
|
Registered
Office : |
1-8-32/59, Agarvanshi House, Bapubagh, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
12.06.1995 |
|
|
|
|
Com. Reg. No.: |
01-020663 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.53.577 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27203AP1995PLC020663 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDA01436B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCA7440A |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Aluminium Extrusion |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 480000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. General
financial position of the company appears to be good. Trade relations are
reported to be fair. Business is active. Payments are reported usually
correct and as per commitments. The company can be considered for normal business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
CRISIL BBB- |
|
Rating Explanation |
Having moderate degree of safety regarding timely servicing of
financial obligation it carry moderate credit risk. |
|
Date |
October |
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 : |
1-8-32/59, Agarvanshi House, Bapubagh, Minister Road, Secunderabad – 500003, Andhra Pradesh, India |
|
Tel. No.: |
91-40-27816450 / 27816705 / 27892101 |
|
Fax No.: |
91-40-27816497 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
44, Narapally, Ghatkesar Road, District Ranga Reddy – 501301, Andhra Pradesh, India |
|
Tel. No.: |
91-8415-255661 |
|
Fax No.: |
91-8415-255663 |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Bharath Bhushan Aggarwal |
|
Designation : |
Managing Director |
|
Address : |
Plot No: 244 Road No: 18, Jubilee Hills, Hyderabad – 500034, Andhra
Pradesh, India |
|
Date of Birth/Age : |
05.01.1952 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
30.09.2002 |
|
DIN No.: |
01245117 |
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 |
U27203AP1995PLC020663 |
AGARVANSHI
ALUMINIUM LIMITED |
Managing
director |
01/10/2007 |
30/09/2002 |
- |
Active |
NO |
|
2 |
U70102AP2005PTC046200 |
AGARVANSHI
HOUSING PRIVATE LIMITED |
Managing
director |
11/05/2005 |
11/05/2005 |
- |
Active |
NO |
|
3 |
U28110AP2009PTC063909 |
INDO
FEATHERLITE ALUMINIUM SPECIALITIES PRIVATE LIMITED |
Additional
director |
01/07/2009 |
01/07/2009 |
31/03/2010 |
Active |
NO |
|
Name : |
Mr. Rahul Aggarwal |
|
Designation : |
Whole-Time Director |
|
Address : |
Plot No: 244 Road No: 18, Jubilee Hills, Hyderabad – 500034, Andhra
Pradesh, India |
|
Date of Birth/Age : |
07.11.1974 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
30.09.2002 |
|
DIN No.: |
01245264 |
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 |
U72200AP2000PTC034048 |
MICROCOSM
INFOTECH PRIVATE LIMITED |
Director |
27/03/2000 |
27/03/2000 |
- |
Under
Process of Striking off |
NO |
|
2 |
U27203AP1995PLC020663 |
AGARVANSHI
ALUMINIUM LIMITED |
Whole-time
director |
01/10/2007 |
30/09/2002 |
- |
Active |
NO |
|
3 |
U70102AP2005PTC046200 |
AGARVANSHI
HOUSING PRIVATE LIMITED |
Director |
11/05/2005 |
11/05/2005 |
- |
Active |
NO |
|
4 |
U28110AP2009PTC063909 |
INDO
FEATHERLITE ALUMINIUM SPECIALITIES PRIVATE LIMITED |
Additional
director |
01/07/2009 |
01/07/2009 |
31/03/2010 |
Active |
NO |
|
Name : |
Mrs. Nirmala Devi |
|
Designation : |
Director |
|
Address : |
Plot No: 244 Road No: 18, Jubilee Hills, Hyderabad – 500034, Andhra
Pradesh, India |
|
Date of Birth/Age : |
18.09.1953 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
30.09.2009 |
|
DIN No.: |
02071386 |
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 |
U72200AP2000PTC034048 |
MICROCOSM
INFOTECH PRIVATE LIMITED |
Director |
27/03/2000 |
27/03/2000 |
- |
Under
Process of Striking off |
NO |
|
2 |
U27203AP1995PLC020663 |
AGARVANSHI
ALUMINIUM LIMITED |
Director |
30/09/2009 |
27/06/2009 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Harish Kumar Agarwal |
|
252100 |
|
Bharath Bhusfian Agarwal |
|
1689100 |
|
Ajay Kumar Agarwal |
|
100100 |
|
Sanjay Kumar Agarwal |
|
110100 |
|
Rahul Agarwal |
|
1096100 |
|
Pushpa Devi Agarwal |
|
100 |
|
Nirmala Devi Agarwal |
|
100100 |
|
Pooja Agarwal |
|
60000 |
|
Ratan Kedia C/o Kedia India Limited, India |
|
550000 |
|
Kedia Soft Solutions Limited, India |
|
900000 |
|
Zimkele Marketing Private Limited, India |
|
500000 |
|
Total |
|
5357700 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
11.60 |
|
Directors or relatives of Directors |
86.29 |
|
Other top fifty shareholders |
2.11 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Aluminium Extrusion |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Bankers : |
HDFC Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel West, Mumbai - 400013, Maharashtra, India |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Luharuka and Associates Chartered Accountants |
|
Address : |
Soham Mansion, M. G. Road, Secunderabad-500003, Andhra Pradesh, India |
|
PAN No.: |
AAAFL6424D |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
70,00,000 |
Equity Share |
Rs.10/- each |
Rs.70.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
|
|
|
|
|
53,57,700 |
Equity Share |
Rs.10/- each |
Rs.53.577
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 |
53.577 |
26.077 |
26.077 |
|
|
2] Share Application Money |
0.300 |
5.300 |
5.300 |
|
|
3] Reserves & Surplus |
65.583 |
49.478 |
40.065 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
119.460 |
80.855 |
71.442 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
62.935 |
37.283 |
17.583 |
|
|
2] Unsecured Loans |
106.330 |
86.455 |
69.925 |
|
|
TOTAL BORROWING |
169.265 |
123.738 |
87.508 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.156 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
288.725 |
204.749 |
158.950 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
109.858 |
92.025 |
91.256 |
|
|
Capital work-in-progress |
0.000 |
0.00 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
2.143 |
2.143 |
3.097 |
|
|
DEFERREX TAX ASSETS |
0.439 |
0.000 |
0.353 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
71.127
|
54.872 |
43.531 |
|
|
Sundry Debtors |
141.972
|
138.208 |
113.677 |
|
|
Cash & Bank Balances |
29.434
|
21.914 |
26.467 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
122.143
|
20.643 |
26.556 |
|
Total
Current Assets |
364.676
|
235.637 |
210.231 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
173.832
|
115.842 |
139.811 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
1.628 |
|
|
Provisions |
14.559
|
9.214 |
4.548 |
|
Total
Current Liabilities |
188.391
|
125.056 |
145.987 |
|
|
Net Current Assets |
176.285
|
110.581 |
64.244 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
288.725 |
204.749 |
158.950 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
925.799 |
648.559 |
903.309 |
|
|
|
Other Income |
13.748 |
5.171 |
4.056 |
|
|
|
TOTAL (A) |
939.547 |
653.730 |
907.365 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
730.161 |
494.906 |
|
|
|
|
Manufacturing service costs |
56.209 |
42.913 |
|
|
|
|
Contract cost |
19.407 |
13.812 |
|
|
|
|
Employee related expenses |
28.664 |
23.720 |
|
|
|
|
Administrative selling other expenses |
36.532 |
25.078 |
|
|
|
|
TOTAL (B) |
870.973 |
600.429 |
847.579 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
68.574 |
53.301 |
59.786 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
26.692 |
26.888 |
40.835 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
41.882 |
26.413 |
18.951 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
17.433 |
16.810 |
16.892 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
24.449 |
9.603 |
2.059 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
8.344 |
4.482 |
3.467 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
16.105 |
5.121 |
(1.408) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
40.396 |
35.275 |
36.683 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
56.501 |
40.396 |
35.275 |
|
|
|
|
|
|
|
|
|
|
TOTAL IMPORTS |
121.160 |
81.277 |
154.969 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.01 |
1.96 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.71
|
0.78 |
(0.16) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.64
|
1.48 |
0.23 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.15
|
2.93 |
0.68 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.12 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.99
|
4.44 |
3.27 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.94
|
1.88 |
1.44 |
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 |
Yes |
OPERATIONS:
During the year, the company has achieved sales turnover and other income of Rs.963.688 Millions as against Rs.661.679 Millions made during the previous year. The company earned net profit of Rs.16.105 Millions for the current year as against that of Rs.5.121 Millions earned in the previous year.
PERFORMANCE AND BUSINESS PROSPECTS:
The performance of the company in the current financial year was encouraging and the company expected to continue the same trend in future also.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U27203AP1995PLC020663 |
|
Name of the company |
AGARVANSHI ALUMINIUM LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
1-8-32/59, Agarvanshi House, Bapubagh, Minister Road, Secunderabad – 500003, Andhra Pradesh, India E-mail Id : hyd1_agarvans@sancharnet.in |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10357081 |
|
Type of charge |
Immovable property Book debts Movable property (not being pledge) Floating charge |
|
Particular of charge holder |
HDFC Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel West, Mumbai - 400013, Maharashtra, India E-mail Id : RBBform8@hdfcbank.com |
|
Nature of instrument creating charge |
Memorandum Recording Past Transactions of Creation of Mortgage by Delivery of Title Deeds. |
|
Date of instrument Creating the charge |
13.08.2012 |
|
Amount secured by the charge |
Rs.387.309 Millions |
|
Brief of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest at the rate as may be communicated by the Bank from time to time. Terms of Repayment Working Capital Facility shall be payable on demand. Term Loan Facility shall be repayable in suitable installment. Margin As may be stipulated by the Bank from time to time. Extent and Operation of the charge The Company created an equitable mortgage by way of deposit of title deeds in respect of its immovable properties as security for the due repayment of Rs.387.309 Millions by the Company including principal amount of the Facility, interest, liquidated damages, costs, charges and expenses etc. |
|
Short particulars of the property or asset(s) charged (including complete address and location of the property) |
Sy No.44, admeasuring and Comprising an Area of A.C 1.01Gts, situated at Narapally Village, Ghatkesar Mandal, Rang Reddy District, Andhra Pradesh, India Sy No.44/P Narapally Village admeasuring and Comprising an Area and A.C 5.18 Gts, situated at Narapally Village, Ghatkesar Mandal, (Old Hayathnagar Taluk) Ranga Reddy District, Andhra Pradesh, India Hypothecation by way of First Charge on Stocks, Book Debts, Plant and Machinery, Vehicles and other Fixed Assets of the Company. |
|
Particulars of the present modification |
In addition to the existing securities of Stocks, Book Debts, Plant and Machinery, Vehicles and other Fixed Assets, the charge of Rs.387.309 Millions shall also now further secured against the equitable mortgage of immovable properties being lying and situated at Narapally Village, Ghatkesar Mandal, Ranga Reddy District, Andhra Pradesh, India |
FIXED ASSETS:
·
Office Building
·
Factory Building
·
Air Conditioner
·
Computer
·
Furniture and Fixtures
·
Handling Systems
·
Plant and Machinery
·
Tools and Spares
·
Office Equipments
·
Vehicles
·
Dies
WEBSITE DETAILS:
PROFILE:
They are a new-age professional enterprise driven by passion and backed by more than a decade of experience in the business of manufacturing Aluminium Extrusion. Their deep-seated commitment to quality, technological up gradation of equipments/systems and knowledge enhancement of manpower allows them to present to you aluminium products of the highest quality.
Their forte lies in manufacturing Aluminium Extrusions to the exact specifications of the world’s most quality conscious user including multinational organizations in information Technology, Pharmaceuticals, Rail and Roadways, to name a few. Their products find application in architectural infrastructure, solar systems, electrical transmission, electronics, industrial and related areas, and they have a large satisfied clientele in India and Overseas. Their marketing and technical team offer comprehensive services through a single source, bringing the world-class quality of both products and support.
Their marketing and technical teams are continuously trained to keep pace with varied technical aspects of customer requirements, to provide tailor made products, suiting their specific needs. Once they understand the application of the extrusion / product, they recommend the appropriate mix of alloys and design.
In case clients specify their design, alloy and profile required, they pick the string from manufacturing of the dies and alloys to match the specs. Their infrastructure includes a complete in house foundry and tool room equipped with latest technology gives them an unmatched edge in ensuring customer delight providing, Multidimensional excellence at its best!
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.53.81 |
|
|
1 |
Rs.86.52 |
|
Euro |
1 |
Rs.69.50 |
INFORMATION DETAILS
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
48 |
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.