|
Report Date : |
14.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
SIEMENS VAI METALS TECHNOLOGIES PRIVATE
LIMITED [w.e.f. 18.07.2007] |
|
|
|
|
Formerly Known
As : |
VAI ENGINEERING AND AUTOMATION PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
130, Pandurang Budhkar Marg, Worli, Mumbai – 400 018, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
30.09.2011 |
|
|
|
|
Date of
Incorporation : |
02.03.1957 |
|
|
|
|
Com. Reg. No.: |
11-094089 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.89.060
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74210WB2002PTC094089 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALV01293F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCV8348L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing Engineering and Automation Service in Metallurgical
Industry. |
|
|
|
|
No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (72) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 980000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of Siemens AG, Germany. It is well established
and a reputed company having good track record. There appears loss in the current
year. However, networth seems to be strong. Trade relations are reported to
be fair. Business is active. Payments are reported to be regular and as per
commitments. In view of strong holding company can be considered for good business
dealings at usual trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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.
INFORMATION DECLINED
Management non Co-operative (Name not
disclosed)
LOCATIONS
|
Registered Office / Factory : |
130, Pandurang
Budhkar Marg, Worli, Mumbai - 400 018, |
|
Tel. No.: |
91-22–24987000/
01/ 02/ 24931349/ 50 |
|
Fax No.: |
91-22–24987500/
52/ 24941758 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 16.02.2012
|
Name : |
Mr. Werner Auer |
|
Designation : |
Additional Director |
|
Address : |
Teistlergutstr 5d, |
|
Date of Birth/Age : |
25.04.1955 |
|
Date of Appointment : |
29.09.2008 |
|
Din No.: |
02353256 |
|
|
|
|
Name : |
Mr. Ashoke Pan |
|
Designation : |
Managing Director |
|
Address : |
|
|
Date of Birth/Age : |
16.07.1955 |
|
Date of Appointment : |
25.02.2004 |
|
Din No.: |
00907918 |
|
|
|
|
Name : |
Mr. Martin Krauss |
|
Designation : |
Director |
|
Address : |
Seerbergstrasse, 35 Wilhering-4073, |
|
Date of Birth/Age : |
12.06.1963 |
|
Date of Appointment : |
04.11.2009 |
|
Din No.: |
02877259 |
|
|
|
|
Name : |
Mr. Robert Hans Joachim Wagner |
|
Designation : |
Additional Director |
|
Address : |
Suedring 25 Eckental - 90542 |
|
Date of Birth/Age : |
04.09.1962 |
|
Date of Appointment : |
29.09.2008 |
|
Din No.: |
02353217 |
KEY EXECUTIVES
|
Name : |
Mr. G. Subramani |
|
Designation : |
Secretary |
|
Address : |
203, Coral, Nirmal Lifestyles, LBS Marg, Mulund West, Mumbai – 400080,
|
|
Date of Birth/Age : |
12.11.1960 |
|
Date of Appointment : |
15.06.2010 |
|
PAN : |
AFOPS1028R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 16.02.2012
|
Names of Shareholders |
|
No. of Shares |
|
Siemens Vai Metals Technologies GmbH and Company, |
|
890599 |
|
|
|
1 |
|
|
|
|
|
TOTAL
|
|
890600 |
AS ON 16.02.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Engineering and Automation Service in Metallurgical
Industry. |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management. |
|||||||||
|
|
|
|||||||||
|
Bankers : |
|
|||||||||
|
|
|
|||||||||
|
Facilities : |
NOTE: (A) Short term loan (repayable within one year). (B) Short term loan (repayable within one year). |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.V. Ghatalia and Associates Chartered Accountant |
|
Address : |
Jalan Mill Compound, 95, Ganpatrao Kadam Marg, Lower Parel, Mumbai –
400013, |
|
Pan No.: |
AACFS6921Q |
|
|
|
|
Ultimate Holding Company : |
Siemens AG, |
|
|
|
|
Immediate
Holding Company : |
Siemens VAI Metals Technologies |
|
|
|
|
Fellow Subsidiaries : |
v
Siemens VAI Metals Technologies Limited, v
Siemens VAI Metals Technologies v
Siemens v
Siemens VAI Metals Technologies SAS, France v
Siemens Limited, v
Siemens AG - SFS v
Siemens AG - CF TRE v
Siemens AG - Zentrale Themen, Muenchen v
Siemens AG - Corporate Units and Shared Services v
Siemens AG - IT Solutions and Services, v
Siemens Pte. Limited. v
Siemens Sp. z o.o., v
Siemens Industry Inc. v
Siemens VAI Metals Technologies v
Siemens IT Solutions and Services GmbH v
Siemens AG, v
Siemens PLC v
Siemens Information System Limited, v
Siemens Building Technologies Private Limited v
Siemens Power Engineering Private Limited v
Siemens Corporate Finance Private Limited v
Siemens Information Systems Private Limited v
Siemens Information Processing Services Private
Limited v
Siemens Industry Software ( v
Siemens Industry, Inc., |
|
|
|
|
Subsidiaries : |
v
Morgan Construction Company India Private
Limited, |
CAPITAL STRUCTURE
AS ON 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1500000 |
Equity Shares |
Rs.100/- each |
Rs.150.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
890600 |
Equity Shares |
Rs.100/- each |
Rs.89.060
Millions |
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
30.09.2011 |
30.09.2010 |
30.09.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
89.060 |
89.060 |
89.060 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
156.495 |
305.979 |
211.949 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
245.555 |
395.039 |
301.009 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
2000.000 |
800.000 |
0.000 |
|
|
TOTAL BORROWING |
2000.000 |
800.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2245.555 |
1195.039 |
301.009 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
58.066 |
35.694 |
36.118 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
290.059 |
290.059 |
0.000 |
|
|
DEFERREX TAX ASSETS |
93.654 |
20.673 |
50.856 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000
|
0.000
|
|
|
Sundry Debtors |
3096.217
|
2509.630
|
1652.630
|
|
|
Cash & Bank Balances |
236.843
|
52.202
|
558.659
|
|
|
Other Current Assets |
1699.490
|
1514.292
|
321.123
|
|
|
Loans & Advances |
568.174
|
695.144
|
374.989
|
|
Total
Current Assets |
5600.724
|
4771.268
|
2907.401
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1875.843
|
1315.353
|
1242.626
|
|
|
Other Current Liabilities |
1771.284
|
2590.443
|
1330.443
|
|
|
Provisions |
149.821
|
16.859
|
120.297
|
|
Total
Current Liabilities |
3796.948
|
3922.655
|
2693.366
|
|
|
Net Current Assets |
1803.776
|
848.613
|
214.035
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2245.555 |
1195.039 |
301.009 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
30.09.2011 |
30.09.2010 |
30.09.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
6099.080 |
3948.830 |
2581.280 |
|
|
|
Other Income |
1.300 |
6.640 |
47.440 |
|
|
|
TOTAL |
6100.380 |
3955.470 |
2628.720 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
6291.200 |
3789.200 |
2435.810 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
6291.200 |
3789.200 |
2435.810 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(190.820) |
166.270 |
192.910 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
25.780 |
23.310 |
21.840 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX |
(216.600) |
142.960 |
171.070 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(67.120) |
48.930 |
63.140 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) AFTER TAX |
(149.480) |
94.030 |
107.930 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
305.980 |
211.950 |
104.020 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
156.500 |
305.980 |
211.950 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Service Income |
NA |
103.436 |
102.523 |
|
|
TOTAL EARNINGS |
NA |
103.436 |
102.523 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
NA |
36.941 |
20.000 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share (Rs.) |
(168) |
105.58 |
121.19 |
|
KEY RATIOS
|
PARTICULARS |
|
30.09.2011 |
30.09.2010 |
30.09.2009 |
|
PAT / Total Income |
(%) |
(2.45)
|
2.38
|
4.11
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(3.55)
|
3.62
|
6.63
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.83)
|
2.97
|
5.81
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.88)
|
0.36
|
0.57
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
23.61
|
11.95
|
8.95
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.47
|
1.22
|
1.08
|
LOCAL AGENCY FURTHER INFORMATION
IMPORTANT NOTE:
Earlier when we had contacted the company some junior level staff from
the company had confirmed that the subject company has amalgamated. But since
that person had not provided his name and designation we had not mentioned
about it in our report.
This time, we have been able to contact Mr. Arnav Chakraborty (Accounts
Department, Kolkata Sales Office [Siemens Ltd.], No. 91-33-30171000) he has
confirmed that in July 2007, the subject company had applied for the
amalgamation procedure.
Mr. Arnav has informed that the High Court will give its final decision
by October 2012 and as on date the company is still active.
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
30.09.2011 (Rs. in millions) |
30.09.2010 (Rs. in millions) |
30.09.2009 (Rs. in millions) |
|
Sundry Creditors |
|
|
|
|
Due small micro
enterprises |
104.711 |
0.000 |
0.000 |
|
Due others |
1771.132 |
1315.353 |
1242.626 |
|
TOTAL |
1875.843 |
1315.353 |
1242.626
|
|
Sr. No. |
Check List by Info
Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
NOTE:
Registered office address of the company has been shifted from Sector V,
Block EP, Plot Y5, Salt lake Commercial Complex, Kolkata – 700091, West Bengal,
India to the present address w.e.f. 07.09.2010.
BACKGROUND
VAI India Private
Limited was incorporated as a private limited Company on 13 January 1995. VAI
Automation Private Limited, a Company incorporated in India under the Companies
Act, 1956 was amalgamated with VAI India Private Limited on a going concern basis
pursuant to a scheme of amalgamation approved vide order dated 24 July 2003 of
the Hon’ble High Court, Kolkata. Pursuant to the merger, the name of VAI India
Private Limited was changed to VAI Engineering and Automation Private Limited
on 2 December 2003 and then again to Siemens VAI Metals Technologies Private
Limited (‘VAI’ or ‘the Company’) with effect from 17 June 2007.
NATURE OF OPERATIONS
Subject located in
Kolkata, is in the field of Metallurgical Plant Building Technology catering
services to most of the Government owned Steel makers as well as Private
plants.
OPERATIONS FOR 2010-11 AND OUTLOOK FOR 2011-12
During the last
year, the turnover of the Company has increased by about 60% vis a vis 2010
(from around 3800’ to 6067’) mainly contributed by SAIL. They also managed to
surpass the 6000’ INR milestone in FY 2011, while missing their Budgeted
targets.
The Profit before
tax could not keep up pace due to high additional costs of infrastructure, personnel
costs due to hiring of new manpower, one time loss order provision (RINL) and
finance costs for external borrowings to fund the working capital needs of the
Company. Internal accruals were not sufficient to fund long term working
capital because of its long cycle. The Company had to resort to short term
borrowings to meet the requirement. This is a temporary phenomenon and will be
taken care in due course.
SUBSIDIARY COMPANY
MORGAN CONSTRUCTION COMPANY INDIA PRIVATE LIMITED
(MORGAN)
Morgan Construction
Company India Private Limited is a 100% Subsidiary of the Company. It is
engaged in the business of manufacturing and providing services for all types
of automatic, semi-automatic plants, machinery, devices, systems, apparatus
etc. For the year ended on 30th September, 2011, Morgan reported a Total Income
of Rs. 1435.800 Millions and a Net Profit/Loss of Rs. 78.690 Millions
AMALGAMATION OF THE COMPANY AND MORGAN WITH SIEMENS
LIMITED, MUMBAI
At the meeting
held on 29th October, 2011, the Board of Directors approved the Scheme of
Amalgamation (SOA) of the Company and Morgan with Siemens Limited, Mumbai (SL).
The Board of Directors of Morgan and SL have approved the SOA in its Board
Meeting held on 21st October, 2011 and 29th October, 2011, respectively. The
“Appointed Date” has been fixed as 1st October, 2011. The Board has recommended
a share exchange ratio of 1,318:100 i.e. (One Thousand Three Hundred and
Eighteen) Equity Shares of Rs. 2 each fully paid-up of SL for every 100 (One
Hundred) Equity Shares of Rs. 100 each fully paid-up held by the shareholders
of the Company in the Company (Morgan is a 100% subsidiary of the Company). The
amalgamation is subject to all the necessary statutory / regulatory approvals,
including approvals of the Members of the respective companies and the High
Court.
SL is a
diversified concern engaged in the business of providing automation products
and systems; undertaking turnkey projects in the industrial and infrastructure
sectors; providing automation solutions for a wide range of applications in
power plants; providing solutions for rail automation, railway electrification,
light and heavy rail, locomotives, trains, turnkey projects and integrated
services; providing medical systems; and providing comprehensive real estate
management. SL is listed on the Bombay Stock Exchange Limited, and National
Stock Exchange of India Limited
CHANGE IN REGISTERED OFFICE
The shareholders
of the Company at their Extra- Ordinary General Meeting held on 23rd August,
2011 have approved the shifting of the Registered Office of the Company from
Kolkata in State of
FIXED ASSETS:
·
Computers
PRESS RELEASES:
SIEMENS LIMITED
ANNOUNCES AMALGAMATION OF SIEMENS VAI METALS TECHNOLOGIES PRIVATE LIMITED AND
MORGAN CONSTRUCTION COMPANY INDIA PRIVATE LIMITED WITH ITSELF
MUMBAI, 2011-OCT-29
At its Board Meeting held today, Siemens Limited announced that it will amalgamate the operations of Siemens VAI Metals Technologies Private Limited, Kolkata (SVAI - a 100% Siemens AG company) and Morgan Construction Company India Private Limited, Mumbai (Morgan - a 100% subsidiary of SVAI) with itself. The appointed date of the amalgamation is 1st October, 2011. The Board of Directors has considered the share swap ratio as determined by independent valuer Grant Thornton. The fairness opinion on the valuation was provided by ICICI Securities Limited, a category – I merchant banker.
The share swap ratio for the proposed amalgamation is: 1,318 (one thousand three hundred and eighteen) equity shares of the face value of Rs. 2 (Rupees two) each fully paid up of the company for every 100 (one hundred) equity shares of the face value of Rs.100 (Rupees one hundred), fully paid-up of SVAI (Morgan is a 100% subsidiary of SVAI).
The proposed amalgamation is subject to the approvals of the shareholders and creditors of the companies, and other statutory and regulatory authorities in the respective jurisdictions.
Dr. Armin Bruck, Managing Director, Siemens Limited, commented on the announcement, “The amalgamation is part of an ongoing consolidation strategy. Siemens Limited constantly seeks opportunities to deliver sustainable growth and add investor value by consolidating the Siemens Group businesses based on operational synergies.”
Werner Auer, CEO of Siemens VAI, supports the amalgamation: “The integration helps Metals Technologies to improve our footprint as local manufacturer and supplier for Indian steel plants. We now can offer engineering, mechanic and automation solutions as well as lifecycle services for Indian producers from one single source.
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.55.44 |
|
|
1 |
Rs.89.31 |
|
Euro |
1 |
Rs.71.62 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
TPT / DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
72 |
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.