MIRA
INFORM REPORT
|
Report Date : |
01.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
RELIANCE CORPORATE IT PARK LIMITED (w.e.f. 10.03.2008) |
|
|
|
|
Formerly Known As : |
RELENE PETROCHEMICALS LIMITED |
|
|
|
|
Registered Office : |
3rd Floor, Court House,
Lokmanya Tilak Marg, Dhobi Talao, Mumbai – 400002, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation : |
02.04.2001 |
|
|
|
|
Com. Reg. No.: |
11-131458 |
|
|
|
|
Capital Investment / Paid-up Capital : |
Rs.26348.300
Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U74140MH2001PLC131458 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMR17044G |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AABCD7169H |
|
|
|
|
Legal Form : |
A Closely Held
Public Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer of
Petroleum Based Products such as Petrochemicals, High Density Polythene,
Ethylene Vinyl Acetate Co. Polymer. |
|
|
|
|
No. of Employees : |
Information
declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 100400000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of Reliance Group. It is a well established company having moderate track record. There
appear huge accumulated losses recorded by the company. However, the company
receives good support from its group company. Trade relations are reported as
fair. Business is active. Payments are reported to be slow. In view of strong holding the company can be considered for business
dealings with slight cautions. |
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 PARTED BY
Management non co-operative [91-22-67673800]
LOCATIONS
|
Registered Office : |
3rd Floor, Court House,
Lokmanya Tilak Marg, Dhobi Talao, Mumbai – 400002, Maharashtra, India |
|
Tel. No.: |
91-22-30346000/ 22785220/ 67673800 |
|
Fax No.: |
91-22-22785111 |
|
E-Mail : |
|
|
|
|
|
Factory : |
5, Trans – Thane
Creek Industrial Area, Thane – Belapur Road, Thane-400601, Maharashtra, India
|
|
Area : |
Land - 20
Hectars, Plant – 100000 Sq. ft |
|
Location : |
Owned |
|
|
|
|
Project Office
: |
2nd
Floor, Chitrakoot, Shreeram Mills Premises, Ganapatrao Kadam Marg, Mumbai -
600012, Maharashtra, India |
|
Tel. No.: |
91-22-24918470 |
|
Fax No.: |
91-22-24953046 |
DIRECTORS
AS ON 03.08.2012
|
Name : |
Mr. Indubhai Fulchan Sheth |
|
Designation : |
Director |
|
Address : |
401- A, Falcon Castle CHS Limited, Senapati Bapat Marg, Elphinstone,
Mumbai-400012, Maharashtra, India |
|
Date of Birth/Age : |
02.03.1933 |
|
Date of Appointment : |
23.03.2004 |
|
Din No.: |
00004353 |
|
|
|
|
Name : |
Mr. Rohit Chhannalal Shah |
|
Designation : |
Director |
|
Address : |
B-901/902 shanker Park Opposite Suman Apartment, Shankar Lane,
Kandivali (West), Mumbai-400067, Maharashtra, India |
|
Date of Birth/Age : |
01.06.1954 |
|
Date of Appointment : |
02.04.2001 |
|
Din No.: |
00006087 |
|
|
|
|
Name : |
Mr. Arvind Bhushan Modgil |
|
Designation : |
Director |
|
Address : |
T-9/202 Sea Breeze Co-operative HSG Society Limited, Sector 16, Plot
No16, Nerul, Navi Mumbia-400701, Maharashtra, India |
|
Date of Birth/Age : |
10.10.1949 |
|
Date of Appointment : |
13.09.2004 |
|
Din No.: |
00023544 |
|
|
|
|
Name : |
Mr. Virenderkumar Gandhi |
|
Designation : |
Director |
|
Address : |
15/1101, Seawoods Estates, NRI Complex, Sector 54, 56 and 58, Navi
Mumbai-400706, Maharashtra, India |
|
Date of Birth/Age : |
12.10.1955 |
|
Date of Appointment : |
12.10.2011 |
|
Din No.: |
00012921 |
KEY EXECUTIVES
|
Name : |
Mr. Jagdish R. Vasani |
|
Designation : |
Manager |
|
Address : |
H 2/ 3 : 1 Panchdeep CHS Limited, Sector 29, Vashi, Navi Mumbai – 400
705, Maharashtra, India |
|
Date of Birth/Age : |
21.12.1952 |
|
Date of Appointment : |
01.12.2008 |
|
Pan No.: |
AAJPV7710R |
|
|
|
|
Name : |
Shreya Ramkrishnan |
|
Designation : |
Secretary |
|
Address : |
B-305, Archana Ambika Nagar, Mahatma Gandhi Road, Dombivli (West),
Thane-421202, Maharashtra, India |
|
Date of Birth/Age : |
15.12.1984 |
|
Date of Appointment : |
19.01.2012 |
|
Pan No.: |
ANTPR4313D |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 03.08.2012
|
Names of Shareholders |
No. of Equity Shares |
No. of
Preferences Shares |
|
Reliance
Commercial Land and Infrastructure Limited, India |
2038496840 |
594998620 |
|
Sharanya Trading
Private Limited, India |
-- |
1332700 |
|
Arun K Jain
jointly with Reliance Commercial Land and Infrastructure Limited, India |
100 |
-- |
|
K Sethuraman jointly
with Reliance Commercial Land and Infrastructure Limited, India |
100 |
-- |
|
Indubhai Sheth
jointly with Reliance Commercial Land and Infrastructure Limited, India |
50 |
-- |
|
V. Subramaniam jointly
with Reliance Commercial Land and Infrastructure Limited, India |
50 |
-- |
|
Sridhar
Kothandaraman jointly with Reliance Commercial Land and Infrastructure
Limited, India |
50 |
-- |
|
Raj Mullick jointly
with Reliance Commercial Land and Infrastructure Limited, India |
50 |
-- |
|
|
|
|
|
TOTAL
|
2038497240 |
596331320 |
AS ON 03.08.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of
Petroleum Based Products such as Petrochemicals, High Density Polythene,
Ethylene Vinyl Acetate Co. Polymer. |
||||||||||||
|
|
|
||||||||||||
|
Products : |
v
Petrochemicals
v
High Density
Polythene v
Co –
Polymer
|
GENERAL INFORMATION
|
No. of Employees : |
Information
declined by the management |
|||||||||
|
|
|
|||||||||
|
Bankers : |
v
State
Bank of India, Backbay Reclamation, Mumbai – 400020, Maharashtra, India v
HDFC Bank
Limited, Vashi Branch, Sector – 17, Vashi, Navi Mumbai – 400703, Maharashtra,
India |
|||||||||
|
|
|
|||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Chaturvedi and Shah Chartered Accountants |
|
Address : |
714-715, Tulsiani Chambers,212 Nariman Point, Mumbia:400021, |
|
PAN No: |
AAAFC0662N |
|
|
|
|
Holding Company : |
Reliance Commercial Land and Infrastructure Limited CIN No.: U51109MH2008PLC185389 Reliance Industrial Investments and Holdings Limited CIN No.: U65910MH1986PLC041081 |
|
|
|
|
Ultimate
Holding Company : |
Reliance Industries Limited CIN No.: L17110MH1973PLC019786 |
|
|
|
|
Fellow
Subsidiary Company : |
·
Reliance Retail Limited CIN
No.: U17120MH1998PLC114010 ·
Reliance Financial Distribution and Advisory
Services Limited CIN
No.: U65990MH2007PLC170804 ·
Reliance Retail Insurance Broking Limited CIN
No.: U67200MH2006PLC165651 ·
Reliance Retail Travel and Forex Services Limited CIN
No.: U63040MH2007PLC173923 ·
Reliance Digital Media Limited CIN
No.: U51909MH2007PLC175652 ·
Reliance Fresh Limited CIN
No.: U01100MH1999PLC120563 ·
Reliance People Serve Limited CIN
No.: U93090MH2007PLC167786 ·
Reliance Digital Retail Limited CIN
No.: U70102MH2007PLC170415 ·
Reliance Hypermart Limited CIN
No.: U51909MH2006PLC166163 ·
Strategic Manpower Solutions Limited CIN
No.: U74999MH2007PLC167704 ·
Reliance Wellness Limited CIN
No.: U52100MH2007PLC172129 ·
Reliance Universal Ventures Limited CIN
No.: U51109MH2007PLC167805 ·
Reliance Lifestyle Holdings Limited CIN
No.: U01403MH2007PLC172415 ·
Reliance Autozone Limited CIN
No.: U74140MH2000PLC128398 ·
Reliance Supply
Chain Solutions Limited CIN
No.: U52190MH2007PLC175508 ·
Reliance Petro Marketing Limited CIN
No.: U74210MH1999PLC120377 ·
Reliance Strategic Investments Limited CIN
No.: U65990MH1999PLC120918 ·
Reliance Ventures Limited CIN
No.: U24120MH1999PLC121009 ·
Rancore Technologies Private Limited CIN
No.: U74999MH2007PTC168562 ·
Gapoil Tanzania Limited ·
Gapco Uganda Limited ·
Gapco Kenya Limited ·
Gapco Tanzania Limited ·
Gapco Rwanda SARL |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3495000000 |
Equity Shares |
Rs.10/- each |
Rs.34950.000 Millions |
|
605000000 |
Preferences Shares |
Rs.10/- each |
Rs.6050.000 Millions |
|
|
TOTAL
|
|
Rs.41000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2038497240 |
Equity Shares |
Rs.10/- each |
Rs.20385.000
Millions |
|
596331320 |
Preferences Shares |
Rs.10/- each |
Rs.5963.300
Millions |
|
|
TOTAL |
|
Rs.26348.300 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
26348.300 |
24778.300 |
17863.300 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(1235.100) |
(1242.300) |
(1269.800) |
|
|
NETWORTH |
25113.200 |
23536.000 |
16593.500 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
368.300 |
421.700 |
0.000 |
|
|
2] Unsecured Loans |
300.000 |
300.000 |
3101.200 |
|
|
TOTAL BORROWING |
668.300 |
721.700 |
3101.200 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
25781.500 |
24257.700 |
19694.700 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
15201.800 |
13576.800 |
12597.300 |
|
|
Capital work-in-progress |
5940.300 |
6270.100 |
4887.600 |
|
|
|
|
|
|
|
|
INVESTMENT |
250.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
45.800
|
4.500 |
0.000 |
|
|
Sundry Debtors |
2723.100
|
249.000 |
57.700 |
|
|
Cash & Bank Balances |
3.500
|
54.200 |
2.000 |
|
|
Other Current Assets |
5.300
|
3.300 |
0.000 |
|
|
Loans & Advances |
5086.700
|
5246.600 |
3699.700 |
|
Total
Current Assets |
7864.400
|
5557.600 |
3759.400 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
2477.000
|
498.800 |
344.300 |
|
|
Other Current Liabilities |
913.000
|
608.000 |
1205.200 |
|
|
Provisions |
85.000
|
40.000 |
0.100 |
|
Total
Current Liabilities |
3475.000
|
1146.800 |
1549.600 |
|
|
Net Current Assets |
4389.400
|
4410.800 |
2209.800 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
25781.500 |
24257.700 |
19694.700 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
8851.300 |
5052.800 |
215.500 |
|
|
|
Other Income |
18.900 |
11.500 |
883.000 |
|
|
|
TOTAL (A) |
8870.200 |
5064.300 |
1098.500 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee Benefit Expense |
3462.400 |
2870.300 |
|
|
|
|
Other Expenses |
4653.700 |
1281.800 |
|
|
|
|
TOTAL (B) |
8116.100 |
4152.100 |
525.300 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
754.100 |
912.200 |
573.200 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
73.800 |
115.800 |
209.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
680.300 |
796.400 |
363.800 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
671.600 |
791.100 |
360.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
8.700 |
5.300 |
3.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.400 |
1.100 |
0.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
7.300 |
4.200 |
2.500 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(1262.000) |
(1269.800) |
(1272.300) |
|
|
|
|
|
|
|
|
|
Add |
Excess
Provision of Tax for earlier years |
0.000 |
3.600 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED TO
THE B/S |
(1254.700) |
(1262.000) |
(1269.800) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
231.100 |
NA |
NA |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
NA |
NA |
5.344 |
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
0.00 |
0.03 |
0.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.08
|
0.08 |
0.23 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.10
|
0.10 |
1.39 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.04
|
0.03 |
0.02 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.03
|
0.03 |
0.19 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.26
|
4.85 |
2.43 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2012 (Rs. in millions) |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
|
Sundry Creditors |
2477.000
|
498.800 |
344.300 |
|
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 |
Yes |
|
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 |
|
Unsecured Loan |
As
on 31.03.2012 [Rs.
in Millions] |
As
on 31.03.2011 [Rs.
in Millions] |
|
Loans and Advances From Related Parties |
300.000 |
300.000 |
|
TOTAL
|
300.000 |
300.000 |
OPERATIONAL REVIEW:
The company is in
the business of providing support services. During the year, there has been an
appreciable increase in the scale of business operations of the Company. As the
company continues to grow and strengthens its position, the directors are
confident of robust performance by the Company in the coming years.
AMALGAMATION OF
WHOLLY OWNED SUBSIDIARIES WITH THE COMPANY:
During the year
Reliance Global Management Services Limited and Reliance Infosolutions Private
Limited became wholly owned subsidiaries of the Company. Subsequently, these
wholly owned subsidiaries have been amalgamated with the Company.
The Scheme of
Amalgamation was sanctioned by the Hon'ble High Court of Judicature at Bombay
vide Order dated March 25, 2011. The Scheme became effective on April 12, 2011,
the Appointed Date of the Scheme being April 1, 2010.
The entire paid-up
equity share capital of Reliance Global Management Services Limited (‘RGMS’)
was held by the Company and its nominees and the entire paid-up equity share
capital of Reliance Infosolutions Private Limited was held by RGMS and its
nominees. Therefore, on the Scheme taking effect, the entire issued, subscribed
and paid-up equity share capital of the wholly owned subsidiaries have been
cancelled.
FIXED ASSETS:
- Buildings
- Plant and
Machinery
- Electrical
Installation
- Equipments
- 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 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 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 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.54.39 |
|
|
1 |
Rs.82.32 |
|
Euro |
1 |
Rs.69.54 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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.