MIRA
INFORM REPORT
|
Report Date : |
27.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
MAXX MOBLINK PRIVATE LIMITED ((w.e.f. 10.06.2009) |
|
|
|
|
Formerly Known
As : |
MAXX MOBILINK PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1602-1604, 16th Floor, DLH Park, Opposite Goregaon MTNL Telephone
Exchange, S.V. Road, Goregaon (West), Mumbai – 400062, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
20.11.2008 |
|
|
|
|
Com. Reg. No.: |
11-188380 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.42.100 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74990MH2008PTC188380 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of
High Performance Mobile Phone, Batteries and Mobile Phone Chargers. |
|
|
|
|
No. of Employees
: |
Information denied by the management |
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 3500000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a subsidiary of Maxx Mobile Communication Limited It is an established company having satisfactory track. There appears a
dip in the profitability of the company. However, 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.
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 DENIED BY
|
Name : |
Mr. Manish Gandhi |
|
Designation : |
Account Manager |
|
Contact No.: |
91-22-39563603 |
|
Date : |
26.09.2011 |
LOCATIONS
|
Registered Office : |
1602-1604, 16th Floor, DLH Park, Opposite Goregaon MTNL Telephone
Exchange, S.V. Road, Goregaon (West), Mumbai – 400062, Maharashtra,
India |
|
Tel. No.: |
91-22-33662222/ 40734444 |
|
Fax No.: |
91-22-40734440 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on: 30.09.2011
|
Name : |
Mr. Ajjay Ramanlal Agarwal |
|
Designation : |
Managing Director |
|
Address : |
1503, Quiescent Heights, Mind Space, Chincholi Bunder, Malad (West),
Mumbai – 400064, Maharashtra, India |
|
Date of Birth/Age : |
25.02.1977 |
|
Date of Appointment : |
01.09.2009 |
|
DIN No.: |
00241575 |
|
|
|
|
Name : |
Ms. Barkha Ajjay Agarwal |
|
Designation : |
Whole Time Director |
|
Address : |
1503, Quiescent Heights, Mind Space, Chincholi Bunder, Malad (West),
Mumbai – 400064, Maharashtra, India |
|
Date of Birth/Age : |
02.05.1978 |
|
Date of Appointment : |
01.07.2010 |
|
DIN No.: |
00245167 |
|
|
|
|
Name : |
Mr. Dinesh Kumar Govil |
|
Designation : |
Director |
|
Address : |
Flat No.205, Nestle Co-operative Housing Society Limited, Sector 45,
Gurgaon – 122001, Haryana, India |
|
Date of Birth/Age : |
13.09.1947 |
|
Date of Appointment : |
28.07.2010 |
|
DIN No.: |
02402409 |
KEY EXECUTIVES
|
Name : |
Mr. Manish Gandhi |
|
Designation : |
Account Manager |
|
|
|
|
Name : |
Ms. Pinal Rakesh Darji |
|
Designation : |
Secretary |
|
Address : |
C-704, Ekta Bhoomi Gardens, Rajendra Nagar, Borivali (East), Mumbai –
400066, Maharashtra, India |
|
Date of Birth/Age : |
28.11.1986 |
|
Date of Appointment : |
01.07.2012 |
|
PAN No.: |
ATPPD6816M |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Maxx Mobile Communication Limited, India |
|
4209999 |
|
Ajjay R. Agarwal |
|
1 |
|
|
|
|
|
Total |
|
4210000 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2011
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of High
Performance Mobile Phone, Batteries and Mobile Phone Chargers. |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
·
Union Bank of India (Lead Bank), Goregaon (East) Branch,172/73,Shri
Sadan, Shantaben Estate, Goregaon (East), Mumbai - 400063, Maharashtra, India ·
Union Bank of India ·
Dena Bank ·
The Ratnakar Bank Limited ·
State Bank of Mysore ·
Bank of India ·
Central Bank of India ·
Federal Bank Limited ·
Oriental Bank of Commerce ·
Yes Bank Limited ·
Canara Bank |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
(Rs.
In Millions)
Note: (A)
Cash Credit |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors 1 : |
|
|
Name : |
B.R. Batliboi and Associates Chartered Accountants |
|
Address : |
Golf View Corporate Tower B, Sector-42 Sector Road, Gurgaon – 122002, Haryana, India |
|
PAN No.: |
AABFS3421N |
|
|
|
|
Auditors 2 : |
|
|
Name : |
Anil Bansal and Associates Chartered Accountants |
|
Address : |
306 Kedia Chambers, Near New Era Talkies, Malad (West), Mumbai – 400064, Maharashtra, India |
|
PAN No.: |
AADPB0832A |
|
|
|
|
Enterprises owned
or significantly influenced by key management personnel or their relatives : |
· Integrity Properties Private Limited · Maxx Digital Care Private Limited · Kreteka Investments Private Limited |
|
|
|
|
Holding Company : |
Maxx Mobile Communications Limited CIN No.: U32204MH2004PLC143794 |
CAPITAL STRUCTURE
As on: 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4210000 |
Equity Shares |
Rs.10/- each |
Rs.42.100
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 |
42.100 |
10.100 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
833.296 |
377.790 |
(0.021) |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
875.396 |
387.890 |
0.079 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1376.006 |
359.087 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
1376.006 |
359.087 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2251.402 |
746.977 |
0.079 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
96.252 |
6.459 |
0.000 |
|
|
Capital work-in-progress |
19.494 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
7.781 |
(0.667) |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
821.265
|
1420.042 |
0.000 |
|
|
Sundry Debtors |
1239.789
|
103.767 |
0.000 |
|
|
Cash & Bank Balances |
166.593
|
55.453 |
0.068 |
|
|
Other Current Assets |
5.610
|
0.025 |
0.000 |
|
|
Loans & Advances |
158.645
|
221.246 |
0.025 |
|
Total
Current Assets |
2391.902
|
1800.533 |
0.093 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
89.503
|
779.621 |
0.032 |
|
|
Other Current Liabilities |
136.563
|
156.835 |
0.000 |
|
|
Provisions |
37.961
|
122.892 |
0.000 |
|
Total
Current Liabilities |
264.027
|
1059.348 |
0.032 |
|
|
Net Current Assets |
2127.875
|
741.185 |
0.061 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.018 |
|
|
|
|
|
|
|
|
TOTAL |
2251.402 |
746.977 |
0.079 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
5137.763 |
0.000 |
|
|
|
Other Income |
|
87.675 |
0.000 |
|
|
|
TOTAL (A) |
7737.934 |
5225.438 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials |
|
4106.325 |
0.000 |
|
|
|
Employee Cost |
|
50.344 |
0.000 |
|
|
|
Administrative and Office Expenses |
|
12.322 |
0.020 |
|
|
|
Sales and Distributions Expenses |
|
596.131 |
0.000 |
|
|
|
TOTAL (B) |
7584.774
(Including Financial Expense and Depreciation) |
4765.122 |
0.020 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
460.316 |
(0.020) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
23.005 |
0.001 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
437.331 |
(0.021) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
0.236 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
153.160 |
437.075 |
(0.021) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
54.205 |
149.264 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
98.955 |
287.811 |
(0.021) |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
287.790 |
(0.021) |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
375.296 |
287.790 |
(0.021) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
149.315 |
NA |
NA |
|
|
TOTAL EARNINGS |
149.315 |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Traded goods |
4879.650 |
4348.009 |
NA |
|
|
|
Others |
8.296 |
3.341 |
NA |
|
|
|
Capital Goods |
4.566 |
0.000 |
NA |
|
|
TOTAL IMPORTS |
4892.512 |
4351.350 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
23.50 |
22592.00 |
(2.00) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.28 |
5.51 |
0.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA |
8.51 |
0.000 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.16 |
24.19 |
(22.58) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17 |
1.13 |
(0.27) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.87 |
3.66 |
0.41 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
9.06 |
1.70 |
2.91 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
(Rs. In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
|
|
|
|
Creditors due others |
89.503
|
779.621 |
0.032 |
|
|
|
|
|
|
Total |
89.503
|
779.621 |
0.032 |
|
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 |
Yes |
|
10] |
Designation of contact person |
Yes |
|
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] |
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:
Total revenue of the Company is Rs. 7737.900 Millions. The Profit before Tax is Rs. 153.100 Millions and Net Profit after Tax is Rs. 98.900 Millions.
Contingent
Liabilities not provided for:
(Rs. In Millions)
|
Particulars |
Year |
State and Act |
31.03.2011 |
31.03.2010 |
|
Claims against the Company not acknowledged as debts |
|
|
|
|
|
Customers complaints |
|
|
0.424 |
0.000 |
|
Value added tax |
2010-11 |
Utter Pradesh Vat Act, 2008 |
0.160 |
0.000 |
|
Value added tax |
2009 |
10 Kerala VAT Act, 2003 |
0.085 |
0.000 |
|
Bank guarantee |
|
|
128.899 |
0.275 |
Bankers Charges
Report as per Registry
|
Corporate identity
number (CIN) or foreign company registration
number of the company |
U74990MH2008PTC188380 |
|
Name of the
company |
MAXX MOBLINK
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
1602-1604, 16th Floor, DLH Park, Opposite Goregaon MTNL Telephone
Exchange, S.V. Road, Goregaon (West), Mumbai – 400062, Maharashtra , India E-mail: megha.gupta@maxxmobile.in
|
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
10181854 |
|
Type of charge |
·
Book
debts ·
Movable
property (not being pledge) ·
Others
(The Whole of the Current Assets) |
|
Particular of
charge holder |
Union Bank of India (Lead Bank), Goregaon (East) Branch,172/73,Shri
Sadan, Shantaben Estate, Goregaon (East), Mumbai - 400063, Maharashtra, India |
|
Nature of
instrument creating charge |
1. First
Supplemental Joint Deed of Hypothecation 2. First
Supplemental Working Capital Consortium Agreement (Both the above
documents constitute a single charge) |
|
Date of
instrument Creating the charge |
08.10.2010 |
|
Amount secured by
the charge |
Rs.2000.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As per terms of
sanction of each Bank Terms of
Repayment On Demand Margin As per terms of
sanction of each Bank Extent and
Operation of the charge To secure various
credit facilities aggregating to Rs.200.00 Crores granted by the Banks on Pari Passu Basis as under :- Bank Amount (Rs. in
Millions) Union Bank of India 300.000 Dena Bank 100.000 The Ratnakar Bank
Limited 100.000 State Bank of
Mysore 200.000 Bank of
India
300.000 Central Bank of
India 250.000 Federal Bank
Limited 200.000 Oriental Bank of
Commerce 200.000 Yes Bank
Limited 150.000 Canara Bank 200.000 Total
2000.000 Millions Others The 7 New
consortium members have been inducted in the Union Bank Consortium viz State Bank of
Mysore Bank of India Central Bank of
India, Federal Bank
Limited ' Oriental Bank of
Commerce Yes Bank Limited Canara Bank |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation by
way of First Pari Passu Charge in favour of the Banks viz The Whole of the Current
Assets as well as movable Block Assets of the Borrower namely Stocks of Raw
Materials Stocks in Process, Semi Finished and Finished Goods Stores and
Spares (Consumable Stores and Spares) Imported Mobile Phones,Bills
Receivables and Book-Debts arising out of sales thereof and all other
movables including Plant and Machinery Furniture and Fixtures and Vehicles
and Capital Work in Progress both present and future or wherever else the
same may be or be held by any party to
the order and disposition of the Borrower or in the course of transit or on
high seas or on order or delivery howsoever and wheresoever in the possession
of the Borrower and either by way of substitution or addition. |
|
Date of
instrument modifying the charge |
16.11.2009 |
|
Particulars of
the present modification |
Vide this
modification charge amount enhanced from 300.000 Millions to Rs.2000.000
Millions and 7 new members have been inducted and secured by way
Hypothecation by way of First Pari Passu Charge in favour of the Banks viz
The Whole of the Current Assets as well as movable Block Assets of the
Borrower namely Stocks of Raw Materials Stocks in Process, Semi Finished and
Finished Goods Stores and Spares (Consumable Stores and Spares) Imported
Mobile Phones, Bills Receivables and Book-Debts |
FIXED ASSETS:
· Computer and Software
· Office Equipment
· Furniture and Fixture
· Vehicles
· Mobile Phones
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.53.58 |
|
|
1 |
Rs.86.60 |
|
Euro |
1 |
Rs.68.94 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
VRN |
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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--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.