MIRA
INFORM REPORT
|
Report Date : |
03.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
VINOD MEDICAL SYSTEMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
B-2, Sai Nagar, Near Railway Crossing, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
27.05.1994 |
|
|
|
|
Com. Reg. No.: |
10-008363 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.10.152
millions |
|
|
|
|
CIN No.: [Company Identification No.] |
U85110CT1994PTC008363 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
JBPV00237G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Distributor, Dealer, Importer and Exporter of X-Ray Films Equipments, Photographic Materials. |
|
|
|
|
No. of Employees
: |
65 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 271000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having moderate track record. The
profitability of the company appears to be low. The external borrowing seems
to be huge. However, trade relations are reported to be fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealings with some caution.
|
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
BB [Long Term] |
|
Rating Explanation |
Having moderate risk of default regarding timely servicing of
financial obligation. |
|
Date |
November 2012 |
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 : |
B-2, Sai Nagar, Near Railway Crossing, |
|
Tel. No.: |
91-771-2522401/ 402/ 403/ 2882401/ 4214400/ 4214455 |
|
Fax No.: |
91-771-2522404/ 2882404 |
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E-Mail : |
|
|
Website : |
|
|
Area : |
4500 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Head Office: |
Kripa Kunj, B1-2, Sai Nagar, |
|
Tel No: |
91-771-4214400/ 21 |
|
Fax No.: |
91-771-2882404 |
|
E-Mail: |
|
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|
|
|
Corporate Office: |
B/523, Chintamani Plaza, Mohan Studio Compound, Chakala, Andheri Kurla
Road, Andheri (East), Mumbai – 400 099, Maharashtra, India |
|
Tel No.: |
91-22-42152020/ 21 |
|
Fax No.: |
91-22-42152024 |
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E-Mail: |
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Branch Office/ Godowns : |
Located At : v
v Kolkata v Mumbai v
v Chennai v
v
v
v
v
v
v Sambalpur v Cuttak v Bhiwandi v Ahmedabad v
v Kerala |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Suresh Kumar Rathi |
|
Designation : |
Director |
|
Address : |
S-10-11, Jeevan
Vihar Colony, Opposite VIP Chowk, |
|
Date of Birth/Age : |
14.06.1960 |
|
Qualification : |
B. Sc. |
|
Date of Appointment : |
27.05.1994 |
|
DIN No.: |
00682330 |
|
|
|
|
Name : |
Mr. Vinod Kumar Jaisinghani |
|
Designation : |
Director |
|
Address : |
B/95, Surya
Apartment, M.P.H.B. Colony , Katora Talab, |
|
Date of Birth/Age : |
18.07.1964 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
27.05.1994 |
|
DIN No.: |
00682914 |
|
|
|
|
Name : |
Mr. Kailash Kumar Rathi |
|
Designation : |
Director |
|
Address : |
C -150,
Shailendra Nagar, |
|
Date of Birth/Age : |
29.02.1972 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
10.04.1998 |
|
DIN No.: |
00682430 |
|
|
|
|
Name : |
Mr. Narayan Kumar Rathi |
|
Designation : |
Director |
|
Address : |
S-3-4, Jeevan
Vihar Colony, Opposite VIP Chowk, |
|
Date of Birth/Age : |
30.04.1967 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
10.04.2003 |
|
DIN No.: |
00682721 |
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|
|
|
Name : |
Mrs. Jyoti Suresh Rathi |
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Designation : |
Director |
|
Address : |
S-10-11, Jeevan
Vihar Colony, |
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Date of Birth/Age : |
31.12.1964 |
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Qualification : |
H.S.C. |
|
Date of Appointment : |
27.05.1994 |
|
DIN No.: |
00682789 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
NOTE: SHAREHOLDING DETAILS FILE ATTACHED.
AS ON 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
9.30 |
|
Directors
or relatives of directors |
|
60.65 |
|
Other
top fifty shareholders |
|
30.05 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Distributor, Dealer, Importer and Exporter of X-Ray Films Equipments, Photographic Materials. |
||||
|
|
|
||||
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Products : |
v X-Ray Offset v Chemical Items v X-Ray Films v X-Ray Machines v Agfa Medical Imaging Films |
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Medical X Ray Film Slitting |
Sqm |
5400000 |
1041769 |
GENERAL INFORMATION
|
No. of Employees : |
65 (Approximately) |
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Bankers : |
v
Bank of Maharashtra, Byron Bazar, Katora
Talab, Netaji Chowk, v HDFC Bank v
Standard Chartered |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
R. Kabra and Company Chartered Accountants |
|
Address : |
515, Tulsiani Chambers, Nariman Point, Mumbai – 400 021, |
|
Tel. No.: |
91-22-22044737 |
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E-Mail : |
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PAN No: |
AAAFR1431Q |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
150000 |
Equity Shares |
Rs.100/- each |
Rs.15.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
107520 |
Equity Shares |
Rs.100/-
each |
Rs.10.752
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 |
10.752 |
10.152 |
9.552 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
57.227 |
43.850 |
30.049 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
67.979 |
54.002 |
39.601 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
118.143 |
145.611 |
83.931 |
|
|
2] Unsecured Loans |
66.319 |
63.869 |
46.755 |
|
|
TOTAL BORROWING |
184.462 |
209.480 |
130.686 |
|
|
DEFERRED TAX LIABILITIES |
3.974 |
3.197 |
2.273 |
|
|
|
|
|
|
|
|
TOTAL |
256.415 |
266.679 |
172.560 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
59.793 |
50.895 |
42.872 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.020 |
0.020 |
0.020 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
115.860
|
131.452 |
80.425
|
|
|
Sundry Debtors |
76.711
|
78.964 |
56.269
|
|
|
Cash & Bank Balances |
10.321
|
7.504 |
3.384
|
|
|
Other Current Assets |
1.484
|
0.737 |
7.558
|
|
|
Loans & Advances |
27.673
|
28.721 |
13.857
|
|
Total
Current Assets |
232.049
|
247.378 |
161.493 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
16.795
|
22.704 |
27.273
|
|
|
Other Current Liabilities |
14.492
|
5.834 |
4.552
|
|
|
Provisions |
4.160
|
3.076 |
0.000 |
|
Total
Current Liabilities |
35.447
|
31.614 |
31.825
|
|
|
Net Current Assets |
196.602
|
215.764 |
129.668
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
256.415 |
266.679 |
172.560 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
789.633 |
762.344 |
|
|
|
|
Other Income |
0.345 |
0.945 |
|
|
|
|
TOTAL (A) |
789.978 |
763.289 |
749.639 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
140.053 |
163.565 |
|
|
|
|
Purchase of Stock in Trade |
551.201 |
551.284 |
|
|
|
|
Employee Benefit Expenses |
19.763 |
13.480 |
720.696 |
|
|
|
Other Expenses |
45.993 |
35.380 |
|
|
|
|
Changes in Inventories of Finished Goods, Work in Progress and Stock
in Trade |
(6.308) |
(35.518) |
|
|
|
|
TOTAL (B) |
750.702 |
728.191 |
720.696 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
39.276 |
35.098 |
28.943 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
23.833 |
19.882 |
16.504 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
15.443 |
15.216 |
12.439 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.716 |
3.303 |
2.442 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
11.727 |
11.913 |
9.997 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
3.750 |
3.512 |
3.068 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
7.977 |
8.401 |
6.929 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
27.137 |
18.736 |
11.806 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
35.114 |
27.137 |
18.735 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
87.227 |
NA |
NA |
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
78.48 |
87.86 |
78.54 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.00
|
1.10 |
0.92
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.49
|
1.56 |
NA
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.02
|
3.99 |
4.89
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17
|
0.22 |
0.25
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.71
|
3.87 |
4.10
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
6.55
|
7.82 |
5.07
|
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
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 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 |
Yes |
|
Unsecured Loan |
As
on 31.03.2012 [Rs.
in Millions] |
As
on 31.03.2011 [Rs.
in Millions] |
||||||||
|
Term Loans |
|
|
||||||||
|
From NBFCs |
|
|
||||||||
|
Magma Fincorp Limited |
3.999 |
0.000 |
||||||||
|
Tata Capital Limited |
2.500 |
0.000 |
||||||||
|
Sriram City Union Finance Limited |
2.000 |
0.000 |
||||||||
|
Loans and Advances From Share Holders and Related Parties |
57.820 |
63.869 |
||||||||
|
TOTAL
|
66.319 |
63.869 |
||||||||
|
NOTES: Term loan from NBFC are unsecured and taken against personal guarantee
of the directors of the company. The loans repayable for more than 12 months
have been classified as long term borrowings and otherwise classified as
short term borrowings.
The unsecured loan form shareholder and related parties are long term
in nature and have an unlimited tenure period. |
||||||||||
PERFORMANCE OF THE COMPANY:
During the year the company has achieved
turnover of Rs.789.900 Millions as compared to Rs.763.200 Millions in the
previous year, which is an increase on 3.50% over previous year. This shows the
consistency of the company working in the uncertain market environment, which
were purely negative for major division of the company during FY 2011-2012.
The net profits
(PAT) of concern reduced, nominal, which prima facie even if seers negative but
for the information company has entered into a new manufacturing venture i.e.
Hospital Furniture manufacturing by acquiring a running plant at Umbergaon,
Gujarat. And so far as Net Profit is concerned it is after absorbing a huge
operational and initial current cost of setting up of manufacturing line at
this plant. If they analyze gross profit margins they observe that it has come
to 11.67% as compared to previous year 9.60%.
During the year
company has started two new divisions one is hospital furniture manufacturing
as mentioned above and the second is trading in flex media and its accessories.
For the second venture company has entered in business association with India’s
best flex manufacturing company SRF Limited and company has started this
venture at its 9 locations out of its total 23 locations. And Board is quite
confident of its success in both the divisions in near future.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Modification of
charge |
|
Charge identification
number of the modified |
90207504 |
|
Corporate
identity number of the company |
U85110CT1994PTC008363 |
|
Name of the
company |
VINOD MEDICAL
SYSTEMS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
B-2, Sai Nagar, Near Railway Crossing, |
|
Type of charge |
Book Debts Movable Property Immovable
Property |
|
Particular of
charge holder |
Bank of Maharashtra, Byron Bazar, Katora Talab, Netaji Chowk, Raipur – 492 001, Chhattisgarh, India Email: vmspl@vinodmedical.com |
|
Nature of
description of the instrument creating or modifying the charge |
Composite deed of
hypothecation dated 17.08.2012 and deed of equitable mortgage dated
17.08.2012 and sanction letter no. ah40/credit/VMS/2012-2013 dated 06.08.2012 |
|
Date of
instrument Creating the charge |
17.08.2012 |
|
Amount secured by
the charge |
Rs.300.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest For CC facility
->base rate + 2% i.e. 12.50% and as stipulated in the sanction letter no.
ah40/credit/VMS/2012-13 dated 06.08.2012 Terms of Repayment As stipulated in
the deed of hypothecation and sanction letter no. ah40/credit/VMS/2012-13
dated 06.08.2012 Margin For cc limit 25%
in banks' favour, for revolving LC and BG 10% as term deposit receipts and as stipulated in
the sanction letter no. ah40/credit/VMS/2012-13 dated 06.08.2012 Extent and Operation of the charge Extent -immovable
property and as stipulated in composite deed of hypothecation dated 17.08.2012
and deed of equitable mortgage dated 17.08.2012 and sanction no.
ah40/credit\VMS\2012-13 Operation - the
charge operates to secure due repayment of aggregate facilities of CC Rs.
250.000 Millions, LC limit Rs 40.000 Millions and BG Rs 10.000 Millions and
as stipulated in composite deed of hypothecation dated 17.08.2012 and deed of
equitable mortgage dated 17.08.2012 and sanction letter no.
ah40/credit/VMS/2012-13. |
|
Short particulars
of the property charged |
First and
exclusive charge and security by way of hypothecation charge in favor of bank
over borrower's present and future movable plants, machineries, goods, stocks
of raw material items, inventories Stock in
progress, semi finished and finished goods, stores and spares, stock in
trade, goods in process, movables in transit and present and future, tangible
and intangible assets, vehicles, goodwill Trademark,
copyright, patent and all right title interest and benefit of borrower's upon
/ over all contracts and agreements Land situated at
Sai Nagar Fafadih, ward no.19, pc no. 108,ric-raipur-1 at Raipur admeasuring
4000 sq ft having Khasara No -113/2, Plot No B-2 together with the building
and structures constructed Land situated at
Dadra of Union Territory of Dadra and Nagar Haveli, Silvasa admeasuring
1553.75 sqmt. Bearing Survey No 217/18, H No 902, together with the building
and structures constructed Flat no 802 on
the 8th floor of the building b-wing in the Rassaz castle admeasuring 1175 sq
ft situated at Andheri (e) Mumbai. Factory land and
building at Umbergaon, GIDC - Umbergaon, District Valsad admeasuring 1408 sq
mtr. Having Survey No C-1, Type Industrial Shed No. C-1/275/16 and 17 Revenue
Survey No 165/Paiki (new) Land situated at
Sai Nagar Fafadih, ward no.35, pc no. 108/38, Ric-Raipur-1 at Raipur
admeasuring 2400 sq ft having Khasara No -113/2, Plot No C -10. |
|
Date of latest
modification prior to the present modification |
17.02.2012 |
|
Particulars of
the present modification |
Modification of the
existing charge by deed of
hypothecation and deed of equitable mortgage executed on 17/08/2012 to secure
working capital facilities up to Rs 300.000 Millions enhanced from Rs 190.000
Millions (deed of hypothecation and deed of equitable mortgage dated
17/02/2012) |
FIXED ASSETS:
v Land
v Furniture and Fixture
v Computer
v Office Equipment
v Vehicles
v Office Premises
v Electrical Installation
v Cars
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 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.54.33 |
|
|
1 |
Rs.82.72 |
|
Euro |
1 |
Rs.69.82 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
36 |
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.