MIRA
INFORM REPORT
|
Report Date : |
18.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
INDUSS FOOD PRODUCTS AND EQUIPMENTS LIMITED |
|
|
|
|
Formerly Known
As : |
CONSOLIDATED EQUIPMENTS ( |
|
|
|
|
Registered
Office : |
238/B, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
26.05.1987 |
|
|
|
|
Com. Reg. No.: |
21-031664 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 8.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L35204WB1987PLC031664 |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s shares are listed on
Stock Exchange. |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Supplier of paddy dryer plant, parboiling rice
plant, boilers, rice mill equipment, rice mill machinery, rice engineering |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 170000 |
|
|
|
|
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 : |
238/B, |
|
Tel. No.: |
91-33-22871962 / 22878503 / 9266 / 1962 / 22879266 / 22802743 |
|
Fax No.: |
91-33-22871874 / 22878246 |
|
E-Mail : |
DIRECTORS
AS ON 28.09.2011
|
Name : |
Mrs. Shanti Swarup Agarwal |
|
Designation : |
Director |
|
Address : |
Flat |
|
Date of Birth/Age : |
05.09.1951 |
|
Date of Appointment : |
26.05.1987 |
|
DIN No.: |
00322011 |
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 |
L35204WB1987PLC031664 |
INDUSS
FOOD PRODUCTS AND EQUIPMENTS LIMITED |
Managing
director |
26/05/1987 |
26/05/1987 |
- |
Active |
NO |
|
2 |
L85110KA1993PLC013875 |
OVOBEL
FOODS LIMITED |
Managing
director |
30/09/2010 |
11/01/1993 |
- |
Active |
NO |
|
3 |
U74210KA1996PTC020074 |
OVOBEL
ESTATES PRIVATE LIMITED |
Director |
15/03/1996 |
15/03/1996 |
- |
Active |
NO |
|
4 |
U74140WB1994PLC063414 |
GAMUT
INFOSYSTEMS LIMITED |
Director |
03/04/2000 |
03/04/2000 |
28/02/2009 |
Active |
NO |
|
5 |
U91990WB2000NPL092732 |
TIVOLI
COURT SERVICES |
Director |
21/12/2000 |
21/12/2000 |
- |
Active |
NO |
|
6 |
U15205WB2004PTC100452 |
PRESTIGE
ICE CREAMS PRIVATE LIMITED |
Director |
19/11/2004 |
19/11/2004 |
- |
Active |
NO |
|
7 |
U85300WB1909GAP001932 |
THE
SATURDAY CLUB LIMITED |
Director |
23/09/2011 |
23/09/2011 |
- |
Active |
NO |
|
Name : |
Mr. Madhu Sudhan Mishra |
|
Designation : |
Director |
|
Address : |
P-218b |
|
Date of Birth/Age : |
16.07.1946 |
|
Date of Appointment : |
05.08.1987 |
|
DIN No.: |
00573407 |
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 |
L35204WB1987PLC031664 |
INDUSS
FOOD PRODUCTS AND EQUIPMENTS LIMITED |
Director |
05/08/1987 |
05/08/1987 |
Active |
NO |
|
2 |
L25199OR1988PLC002144 |
POLAR
PHARMA INDIA LIMITED |
Director |
20/01/2004 |
20/01/2004 |
Active |
NO |
|
Name : |
Mr. Nandan Kumar Basu |
|
Designation : |
Director |
|
Address : |
Basudhara, |
|
Date of Birth/Age : |
06.11.1948 |
|
Date of Appointment : |
30.01.2010 |
|
PAN No.: |
ADZPB7137P |
|
DIN No.: |
02449375 |
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 |
L35204WB1987PLC031664 |
INDUSS
FOOD PRODUCTS AND EQUIPMENTS LIMITED |
Director |
30/01/2010 |
09/02/1998 |
Active |
NO |
|
2 |
U70102WB2009PTC132130 |
DURGAPUR
YOUNG ESTATES PRIVATE LIMITED |
Director |
01/02/2010 |
01/02/2010 |
Under
Process of Striking off |
NO |
|
3 |
U15412WB1993PLC060191 |
ANMOL
BISCUITS LIMITED |
Director |
26/08/2010 |
03/04/2010 |
Active |
NO |
|
Name : |
Mr. Sohanlal Chopra |
|
Designation : |
Additional Director |
|
Address : |
15, Nafar Chandra Das Road, Behala, Kolkata-700034, West Bengal, India
|
|
Date of Appointment : |
03.12.2010 |
|
DIN No.: |
03183091 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2011
|
Category of
Shareholder |
No. of Shares |
% of No. of
Shares |
|
(A) Shareholding
of Promoter and Promoter Group |
|
|
|
|
|
|
|
Individuals / Hindu Undivided Family |
567950 |
66.81 |
|
Sub Total |
567950 |
66.81 |
|
(2) Foreign |
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
567950 |
66.81 |
|
|
|
|
|
(1) Institutions |
|
|
|
(2)
Non-Institutions |
|
|
|
Bodies Corporate |
52000 |
6.11 |
|
|
|
|
|
|
214050 |
25.18 |
|
Individual shareholders holding nominal
share capital in excess of Rs. 0.100 Million |
16000 |
1.88 |
|
|
282050 |
33.18 |
|
Total Public
shareholding (B) |
282050 |
33.18 |
|
Total (A)+(B) |
850000 |
100 |
|
(C) Shares held
by Custodians and against which Depository Receipts have been issued |
- |
- |
|
|
- |
- |
|
|
- |
- |
|
Sub Total |
- |
- |
|
|
850000 |
100 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Supplier of paddy dryer plant, parboiling rice
plant, boilers, rice mill equipment, rice mill machinery, rice engineering |
||||||
|
|
|
||||||
|
Products : |
|
PRODUCTION STATUS (AS ON : 31.03.2010)
|
Particulars |
Unit |
Licensed
Capacity |
Actual
Production |
|
|
|
|
|
|
Ricemill Machineries |
Pcs |
193 |
146 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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|
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|
Bankers : |
·
Andhra Bank, Chowringhee Branch, 58, Chowringhee Road,
Kolkata-700071, West Bengal, India |
|||||||||||||||||||||||||||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Chopra and Company Chartered Accountant |
|
Address : |
133, Canning Street, Kolkata-700001, West Bengal, India |
|
Tel. No.: |
91-33-22421718 / 6029 |
|
Fax No.: |
91-33-22426676 |
|
E-Mail : |
|
|
PAN No.: |
AACFI527A |
|
|
|
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs. 20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
850000 |
Equity Shares |
Rs.10/- each |
Rs. 8.500
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 |
8.500 |
8.500 |
8.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
34.508 |
32.183 |
29.299 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
43.008 |
40.683 |
37.799 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
44.809 |
54.455 |
41.473 |
|
|
2] Unsecured Loans |
4.500 |
1.837 |
11.575 |
|
|
TOTAL BORROWING |
49.309 |
56.292 |
53.048 |
|
|
DEFERRED TAX LIABILITIES |
3.849 |
2.938 |
2.007 |
|
|
|
|
|
|
|
|
TOTAL |
96.166 |
99.913 |
92.854 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
54.878 |
54.472 |
52.162 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
9.978 |
9.978 |
9.978 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.00 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
63.661
|
68.944 |
54.214 |
|
|
Sundry Debtors |
56.756
|
61.218 |
43.308 |
|
|
Cash & Bank Balances |
3.703
|
2.467 |
3.320 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
35.907
|
27.237 |
23.295 |
|
Total
Current Assets |
160.027
|
159.866 |
124.137 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
70.161
|
77.243 |
56.302 |
|
|
Other Current Liabilities |
57.456
|
46.807 |
38.701 |
|
|
Provisions |
1.100
|
0.353 |
0.363 |
|
Total
Current Liabilities |
128.717
|
124.403 |
95.366 |
|
|
Net Current Assets |
31.310
|
35.463 |
28.771 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.017 |
|
|
PRE OPERATIVE EXPENSES |
0.000 |
0.000 |
1.926 |
|
|
|
|
|
|
|
|
TOTAL |
96.166 |
99.913 |
92.854 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
470.361 |
456.266 |
445.092 |
|
|
|
Other Income |
9.454 |
8.647 |
10.858 |
|
|
|
TOTAL (A) |
479.815 |
464.913 |
455.950 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
368.443 |
368.259 |
365.696 |
|
|
|
Manufacturing service costs |
43.731 |
38.941 |
43.223 |
|
|
|
Employee related expenses |
12.631 |
12.468 |
14.579 |
|
|
|
Administrative selling other expenses |
43.418 |
32.442 |
28.159 |
|
|
|
Accretion / Decreation to Stock of Finished Goods |
0.000 |
0.000 |
0.005 |
|
|
|
TOTAL (B) |
468.223 |
452.110 |
451.662 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
11.592 |
12.803 |
4.288 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.652 |
5.480 |
6.933 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
6.940 |
7.323 |
(2.645) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.957 |
3.155 |
1.882 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
3.983 |
4.168 |
(4.527) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.658 |
1.284 |
1.827 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
2.325 |
2.884 |
(6.354) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
28.688 |
25.804 |
32.158 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
31.013 |
28.688 |
25.804 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.73 |
3.39 |
(7.47) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.48
|
0.62 |
(1.39) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.85
|
0.91 |
(1.02) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.85
|
1.94 |
(2.57) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.10 |
(0.12) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.23
|
4.51 |
3.98 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.24
|
1.29 |
1.30 |
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
availables |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
No |
|
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 OF THE
COMPANY
The Turnover of
the company during the year has increased by Rs.14.095 Millions as compared to previous
year and the company has made a profit of Rs.2.325. Millions as against profit
of Rs.2.884 Millions. Earnings per share has also been achieved at Rs. 2.73
against Rs. 3.39 in last year. Due to higher market cost of input the net
profit and earnings per share have decreased nominal.
RICE MILL DIVISION
This Division has
shown a profit of Rs. 2.635 Millions because of moderation of plants. The
Company was successful in exporting these machines to Pakistan and Bangladesh.
HATCHERY DIVISION
The turnover of
the division during the year has increased by Rs.3.786 Millions as compared to
the previous year with a Loss of Rs.0.728 Million against the profit of Rs.
1.225 Millions, previous financial year.
FORM 8
|
Corporate
identity number of the company |
L35204WB1987PLC031664 |
|
Name of the
company |
INDUSS FOOD
PRODUCTS AND EQUIPMENTS LIMITED |
|
Address of the
registered office or of the principal place of business in |
238/B, Acharaya J C Bose Road, Kolkata-700020, West Bengal, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
·
Immovable
property ·
Movable
property (not being pledge) |
|
Particular of
charge holder |
Andhra Bank, Chowringhee Branch, 58, Chowringhee Road, Kolkata-700071, West Bengal, India |
|
Nature of
instrument creating charge |
1. Composite
Agreement dated 22.06.2012 2. Demand
Promissory Note dated 22.06.2012 3. Counter
Guarantee dated 22.06.2012 4. R. F. 255 B
dated 22.06.2012 5. Board
Resolution dated 20.06.2012 |
|
Date of
instrument Creating the charge |
22.06.2012 |
|
Amount secured by
the charge |
Rs. 23.200
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest PC/FBP - Base
Rate + 1.50% p.a. with monthly rests. FBG Commission -
As H.O. Guidelines. Terms of repayment PC/FBP - For 90
days from the dated loan disbursement. FBG - Repayable
on demand. Margin PC/FBP - 25% on paid stock. FBG - 100% Extent and operation of the charge The charge shall
operate as first charge on all the current assets and fixed assets of the
company. |
|
Short particulars
of the property charged (Including location of the property) |
PRIMARY SECURITY: PC/FBP:-
Hypothecation by way of first charge on stock of raw materials, stock in
process, finished goods of Rice Mill machinery meant for export under
confirmed orders of the company, both present and future. FBG:- Counter
Guarantee of the Company. COLLATERAL
SECURITY: Extension of
charge on existing collateral security :- (1)
EM of
flat No.18 on 9th floor and area 2190 sq. ft. situated at Tivoli Court, 1A
Ballygunge Circular Road, P.O. Circus Avenue, P.S. Ballygunge, District (S)
24 Pargana, Kolkata - 700 019 in West Bengal. (2)
EM of
1.00 acre land (Master plot No. F-17), R. S. Plot No. 980, 983, 2114 and 2116
(All Part) at Food Park (2nd Phase), Kandua, P.S. Sankrail, District Howrah,
in West Bengal. (3)
First
charge on the fixed assets of the company, both present and future. |
FIXED ASSETS
·
Land
·
Factory Building
·
Plant and Machinery
·
Computer Machinery
·
Air Conditioner
·
Office Equipments
·
Motor Cycle
·
Furniture and Fixtures
·
Electric Installation
·
Refrigeration
·
Pollution Control
Equipments
·
Photo Copier Machine
·
Motor Car
·
Software
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. 53.97 |
|
|
1 |
Rs. 87.52 |
|
Euro |
1 |
Rs. 70.84 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.