|
Report Date : |
08.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
G.K. WINDING WIRES LIMITED |
|
|
|
|
Registered
Office : |
23, Radhe Purikrishna Nagar, Delhi-110051 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
28.10.1985 |
|
|
|
|
Com. Reg. No.: |
55-022363 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 47.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1985PLC022363 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELG00581A |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Supplier and Manufacturer of copper winding wire, enamelled, enamelled
copper wire, magnet wire, ul approved magnet wire, insulated cable, insulated |
|
|
|
|
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 730000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to be
usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 : |
23, Radhe Purikrishna Nagar, Delhi-110051, India |
|
Tel. No.: |
91-120-2560214/201 |
|
Fax No.: |
91-120-2560223 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 23.09.2011
|
Name : |
Mr. Sudhir Kumar Agarwal |
|
Designation : |
Whole time Director |
|
Address : |
F-27, Sector-41, Noida-201303, Uttar Pradesh, India |
|
Date of Birth/Age : |
01.12.1947 |
|
Date of Appointment : |
28.10.1985 |
|
DIN No.: |
00117005 |
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 |
U74899DL1985PLC022363 |
G.K.
WINDING WIRES LIMITED |
Whole-time
director |
01/04/2011 |
28/10/1985 |
- |
Active |
NO |
|
2 |
U19201DL1997PTC090331 |
UNISOL
INDIA PRIVATE LIMITED |
Director |
21/10/1997 |
21/10/1997 |
- |
Active |
NO |
|
3 |
U31300MH1973GAP016998 |
WINDING
WIRES MANUFACTURERS ASSOCIATION OF INDIA |
Director |
29/09/2004 |
29/09/2004 |
- |
Active |
NO |
|
4 |
U27104WB1988PTC045426 |
VERSATILE
METAL CONCEPTS PRIVATE LIMITED |
Director |
01/11/2004 |
01/11/2004 |
22/03/2010 |
Active |
NO |
|
5 |
U74899DL1986PTC023900 |
SHREE
ADINATH ENGINEERING WORKS PRIVATE LIMITED |
Director |
25/08/2005 |
25/08/2005 |
20/06/2009 |
Active |
NO |
|
6 |
U74899DL1991PTC045971 |
GK
ENTERPRISES PRIVATE LIMITED |
Director |
01/04/2007 |
01/04/2007 |
22/10/2009 |
Active |
NO |
|
7 |
L31300WB1993PLC060690 |
VERSATILE
WIRES LIMITED |
Director |
02/04/2007 |
02/04/2007 |
08/05/2007 |
Active |
NO |
|
8 |
U45400DL2009PTC188928 |
CLASSIC
CONSTRUCTION MATERIAL AND EQUIPMENTS PRIVATE LIMITED |
Director |
27/03/2009 |
27/03/2009 |
- |
Active |
NO |
|
9 |
U45400DL2009PTC188925 |
SYSTEMATIC
INFRADEVELOPERS PRIVATE LIMITED |
Director |
27/03/2009 |
27/03/2009 |
- |
Active |
NO |
|
10 |
U74899DL1990PTC042309 |
MAHARANI
PRODUCTS PRIVATE LIMITED |
Director |
16/04/2010 |
16/04/2010 |
- |
Active |
NO |
|
Name : |
Mr. Sameer Agarwal |
|
Designation : |
Managing Director |
|
Address : |
F-27, Sector-41, Noida-201303, Uttar Pradesh, India |
|
Date of Birth/Age : |
22.08.1979 |
|
Date of Appointment : |
24.08.2006 |
|
DIN No.: |
00117027 |
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 |
Company/
LLP Status |
Defaulting
status |
|
1 |
U74899DL1985PLC022363 |
G.K.
WINDING WIRES LIMITED |
Managing
director |
01/04/2011 |
24/08/2006 |
Active |
NO |
|
2 |
U74899DL1990PTC042309 |
MAHARANI
PRODUCTS PRIVATE LIMITED |
Director |
16/04/2010 |
16/04/2010 |
Active |
NO |
|
Name : |
Mr. Sant Kumar Agarwal |
|
Designation : |
Director |
|
Address : |
D-141, Sector-55, Noida-201303, Uttar Pradesh, India |
|
Date of Birth/Age : |
15.07.1955 |
|
Date of Appointment : |
01.04.1994 |
|
DIN No.: |
00117043 |
|
|
|
|
Name : |
Ms. Neelam Agarwal |
|
Designation : |
Director |
|
Address : |
F-27, Sector-41, Noida-201303, Uttar Pradesh, India |
|
Date of Birth/Age : |
12.01.1952 |
|
Date of Appointment : |
23.11.2002 |
|
DIN No.: |
00116987 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 23.09.2011
|
Names of Shareholders |
No. of Shares |
|
Sudhir Agarwal |
4010300 |
|
Sameer Agarwal |
356070 |
|
Neelam Agarwal |
80130 |
|
Sudhir Agarwal |
46500 |
|
Priti Agarwal |
1000 |
|
Nidhi Agarwal |
7000 |
|
H P Aggarwal |
249000 |
|
TOTAL
|
4750000 |
AS ON 23.09.2011
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Supplier and Manufacturer of copper winding wire, enamelled, enamelled
copper wire, magnet wire, ul approved magnet wire, insulated cable, insulated |
PRODUCTION STATUS (AS ON : 31.03.2010)
|
Particulars |
Unit |
Installed
Capacity |
Actual Production |
||
|
|
|
|
Own Products |
Jobwork |
Total Production
|
|
Copper Winding Wire |
MT |
4500 |
2538.931 |
442.911 |
2981.841 |
|
Aluminium Winding Wire |
MT |
150 |
15.905 |
-- |
15.905 |
|
Bare Copper Wire |
MT |
-- |
123.494 |
-- |
123.494 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
Punjab National Bank, Nehru Palace, New Delhi,
India ·
Chinatrust Commercial Bank, A1/16, Wenger House,
Rajiv Chowk, New Delhi-110001, India ·
Industrial Development Bank of India, IRCS
Building, 1st Red Cross Road, New Delhi-110001, India |
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
Stressed Assets Stabilisation Fund, IDBI Tower, WTC Complex, Cuffe
Parade, Mumbai-400005, Maharashtra, India
|
|
|
|
|
Auditors : |
|
|
Name : |
Ravi and Associates Chartered Accountant |
|
Address : |
L-42, Lajpat Nagar-II, Delhi-110024, India |
|
PAN No.: |
AAAFR9032R |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000000 |
Equity Shares |
Rs.10/- each |
Rs. 60.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4750000 |
Equity Shares |
Rs.10/- each |
Rs. 47.500
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 |
47.500 |
47.500 |
47.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
135.773 |
73.988 |
24.855 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
183.273 |
121.488 |
72.355 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
54.893 |
50.913 |
12.221 |
|
|
2] Unsecured Loans |
78.307 |
27.726 |
7.730 |
|
|
TOTAL BORROWING |
133.200 |
78.639 |
19.951 |
|
|
DEFERRED TAX LIABILITIES |
4.745 |
3.866 |
0.119 |
|
|
|
|
|
|
|
|
TOTAL |
321.218 |
203.993 |
92.425 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
89.443 |
60.724 |
31.554 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.026 |
0.026 |
0.026 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
60.821
|
40.277 |
17.262 |
|
|
Sundry Debtors |
149.132
|
87.038 |
55.611 |
|
|
Cash & Bank Balances |
84.728
|
65.056 |
0.851 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
75.686
|
26.148 |
18.502 |
|
Total
Current Assets |
370.367
|
218.519 |
92.226 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
79.121
|
32.478 |
9.965 |
|
|
Other Current Liabilities |
14.098
|
27.009 |
10.960 |
|
|
Provisions |
45.399
|
15.789 |
10.456 |
|
Total
Current Liabilities |
138.618
|
75.276 |
31.381 |
|
|
Net Current Assets |
231.749
|
143.243 |
60.845 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
321.218 |
203.993 |
92.425 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1601.262 |
1041.528 |
685.566 |
|
|
|
Other Income |
6.509 |
1.952 |
0.202 |
|
|
|
TOTAL (A) |
1607.771 |
1043.480 |
685.768 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption
materials changes inventories |
1410.935 |
896.669 |
589.597 |
|
|
|
Manufacturing
service costs |
49.869 |
43.129 |
54.515 |
|
|
|
Contract cost |
1.782 |
2.661 |
0.000 |
|
|
|
Employee related
expenses |
17.655 |
14.412 |
0.000 |
|
|
|
Administrative
selling other expenses |
14.598 |
13.222 |
0.000 |
|
|
|
Variation of
Stocks |
0.000 |
0.000 |
9.777 |
|
|
|
TOTAL (B) |
1494.839 |
970.093 |
653.889 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
112.932 |
73.387 |
31.879 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
12.509 |
4.556 |
2.761 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
100.423 |
68.831 |
29.118 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
8.149 |
3.263 |
1.704 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
92.274 |
65.568 |
27.414 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
30.489 |
16.436 |
8.042 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
61.785 |
49.132 |
19.372 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
68.768 |
19.636 |
0.264 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
130.553 |
68.768 |
19.636 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
191.006 |
0.504 |
|
|
|
Stores & Spares |
NA |
2.476 |
1.758 |
|
|
|
Capital Goods |
NA |
10.078 |
0.000 |
|
|
TOTAL IMPORTS |
NA |
203.560 |
2.262 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
13.01 |
10.34 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.84
|
4.71 |
2.82 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.76
|
6.30 |
4.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.07
|
23.48 |
22.15 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.50
|
0.54 |
0.38 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.51
|
1.30 |
0.71 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.67
|
2.90 |
2.94 |
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) |
Yes |
|
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 |
PERFORMANCE REVIEW
During the year the
production was 3731 MT compared to previous year production of 2998 MT thus
having a growth of 24.45%.
The Gross profit
before Interest, Depreciation and Tax stood as Rs 112.932 Millions compared to
previous year Rs 73.387 Millions, which is more by 53.89%.
FUTURE OUTLOOK
The enameled wire
industry is growing @ 10% plus per annum since last 3 years. Looking to the
past growth trend and lower per capita consumption ( 0.3 Kg against international
norms of 3 Kg) in their country and ongoing expansion in power sector,
Directors estimate similar growth during the next financial year ending on
March 2012.
Accordingly the
capital investment has been done during the current Financial Year.
FORM 8
|
Corporate
identity number of the company |
U74899DL1985PLC022363 |
|
Name of the
company |
G.K. WINDING
WIRES LIMITED |
|
Address of the
registered office or of the principal place of business in |
23, Radhe Purikrishna Nagar, Delhi-110051, India |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
10175550 |
|
Type of charge |
·
Immovable
property ·
Book
debts ·
Movable
property (not being pledge) ·
Floating
charge |
|
Particular of
charge holder |
Chinatrust Commercial Bank, A1/16, Wenger House, Rajiv Chowk, New
Delhi-110001, India |
|
Nature of
instrument creating charge |
Deed of hypothecation
of Fixed Assets dated 02.07.2012, Deed of Hypothecation of Current Assets
dated 02.07.2012, and Memorandum of Entry dated 02.07.2012 |
|
Date of
instrument Creating the charge |
02.07.2012 |
|
Amount secured by
the charge |
Rs. 130.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest As per CTCB/RBI
guidelines in force. Terms of repayment Payable on
demand. Margin Sight/Usance LC Issuance
Limit - 10%, Sales Bill Discounting limits - 5%, Bank Guarantee limit - 10%
up to 90 days and above 90 days - 100% and Overdraft limit - 25%. Extent and operation of the charge 100% Other To secure all
amounts payable under enhanced LC (Sight/Usance) Issuance limit of Rs.
100.000 Millions, Sales Bill Discounting limit of Rs. 20.000 Millions and
Bank Guarantee limit of Rs. 20.000 Millions as sub-limits and Overdraft limit
of Rs. 30.000 Millions aggregating to Rs. 130.000 Millions granted to/enjoyed
by the Company together with all interests, costs, charges, expenses,
commission etc. |
|
Short particulars
of the property charged (Including location of the property) |
Primary i)
Exclusive
charge on the entire present and future Current Assets of the Company. ii)
Exclusive
charge on the entire present and future Fixed Assets of the Company. Collateral: Exclusive charge
by way of equitable mortgage of immovable properties of the Company situated at
B-20, Surajpur Industrial Area, Site-C Pargana/Tehsil Dadri, District
Ghaziabad (Now Gautam Budh Nagar), Uttar Pradesh together with all the
buildings and structures constructed or to be constructed thereon, fixtures
and fittings erected/installed or to be erected/installed thereon and every
part thereof. |
|
Date of
instrument modifying the charge |
12.07.2011 |
|
Particulars of
the present modification |
The exclusive
charge on entire current and fixed assets of the Company - both present and
future and equitable mortgage of immovable properties of the Company situated
at B-20, Surajpur Industrial Area, Site-C Pargana/Tehsil Dadri, District
Ghaziabad (Now Gautam Budh Nagar), Uttar Pradesh stands reduced from Rs.
140.000 Millions to Rs. 130.000 Millions |
FIXED ASSETS
·
Land and Site Development
·
Good Will
·
Factory Building
·
Plant and Machinery
·
Office Equipments
·
Computers
·
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 records 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. 55.52 |
|
|
1 |
Rs. 88.49 |
|
Euro |
1 |
Rs. 70.20 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--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.