MIRA
INFORM REPORT
|
Report Date : |
08.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
PARADISE PLASTICS ENTERPRISES LIMITED [w.e.f. 05.09.2000] |
|
|
|
|
Formerly Known
As : |
PARADISE PLASTIC ENTERPRISES LIMITED |
|
|
|
|
Registered
Office : |
1203-A, Highland Park, Lokhandwala Complex, Off New Link
Road, Andheri (West), Mumbai – 400053, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
27.01.1986 |
|
|
|
|
Com. Reg. No.: |
11-074410 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.14.035
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999MH1986PLC074410 [New] U99999WB1986PLC040080 [Old] |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMP17816B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCP5932G |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturers and Importers of Plastic Raw Material Machines
(Moulding) and Plastic Processing M/C and Testing Equipments. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 522000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are 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 : |
1203-A, Highland Park, Lokhandwala Complex, Off New Link
Road, Andheri (West), Mumbai – 400053, Maharashtra, India |
|
Tel. No.: |
91-22-28688783/28684240/ 26369636 |
|
E-Mail : |
|
|
Website : |
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|
|
|
|
Corporate Office : |
1/1A, Biplabi Anukul Chandrast, Kolkata – 700072, West |
|
|
|
|
Factory 1 : |
D-13, Sector 8, Noida-201305, Uttar Pradesh, India |
|
Tel. No.: |
91-120-2424105/2424120/ 2522828/ 2523949/ 2538323 |
|
Fax No.: |
91-120-2424121 |
|
|
|
|
Factory 2 : |
D-1, Site 5 Kasna Surajpur Industrial Area, Greater, Noida, Uttar
Pradesh, India |
|
|
|
|
Factory 3 : |
Located At: ·
Manesar ·
Haryana |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Yogesh Kantilal Gandhi |
|
Designation : |
Managing Director |
|
Address : |
701-A, Highland Park, Lokhandwala Complex, New Link Road,
Andheri (West), Mumbai – 400 053, Maharashtra, India. |
|
Date of Birth/Age : |
12.12.1955 |
|
Date of Appointment : |
01.04.1998 |
|
Din No.: |
00035025 |
|
|
|
|
Name : |
Mr. Jitendra V. Shah |
|
Designation : |
Director |
|
Address : |
6, Renuka Tilak Road, Opposite Balaji Road, Ghatkopar (East), Mumbai –
400 077, Maharashtra, India |
|
Date of Birth/Age : |
07.01.1954 |
|
Date of Appointment : |
01.04.2010 |
|
Din No.: |
02793689 |
|
|
|
|
Name : |
Mr. Harsh Yogesh Gandhi |
|
Designation : |
Joint Managing Director |
|
Address : |
Plot No. B-62, Sector -14 Noida 201 301, |
|
Date of Birth/Age : |
05.06.1981 |
|
Date of Appointment : |
22.08.2003 |
|
Din No.: |
00035190 |
|
|
|
|
Name : |
Mrs. Parul Yogesh Gandhi |
|
Designation : |
Executive Director |
|
Address : |
1203-A, Highland Park, Lokhandwala Complex, New Link Road, Andheri (West), Mumbai – 400 053, Maharashtra |
|
Date of Birth/Age : |
28.01.1959 |
|
Date of Appointment : |
01.10.2004 |
|
Din No.: |
00035259 |
|
|
|
|
Name : |
Mr. Shailesh J. Jobla |
|
Designation : |
Additional Director |
|
Address : |
12, Mahesh Villa, V. B. Lane Extension, Ghatkopar (East), Mumbai -400 077, Mharashtra |
|
Date of Birth/Age : |
22.05.1957 |
|
Date of Appointment : |
01.04.2204 |
|
Din No.: |
02793696 |
|
|
|
|
Name : |
Mr. Hemant Vithaldas Shah |
|
Designation : |
Whole Time Director |
|
Address : |
6, |
|
Date of Birth/Age : |
28.07.1965 |
|
Date of Appointment : |
01.04.2010 |
|
Din No.: |
02793714 |
|
|
|
|
Name : |
Mr. Parth Yogesh Gandhi |
|
Designation : |
Whole Time Director |
|
Address : |
1203 A Wing, |
|
Date of Birth/Age : |
04.07.1987 |
|
Date of Appointment : |
01.04.2010 |
|
Din No.: |
03053090 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Yogesh K. Gandhi |
|
21985 |
|
Yogesh jointly with Mrs. Parul Y. Gandhi |
|
536000 |
|
Parul Y. Gandhi |
|
250000 |
|
Parul jointly with Mr. Yogesh K. Gandhi |
|
265000 |
|
Harsh Y. Gandhi |
|
35000 |
|
Harsh jointly with Mr. Yogesh K. Gandhi |
|
130250 |
|
Parth jointly with Mr. Yogesh K. Gandhi |
|
165250 |
|
Bipin M. Parikh |
|
5 |
|
Ajay S. Desai |
|
5 |
|
Jitendra H. Shah |
|
5 |
|
|
|
|
|
TOTAL
|
|
1403500 |
AS ON 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Importers of Plastic Raw Material
Machines (Moulding) and Plastic Processing M/C and Testing Equipments. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||
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|||||||||||||||
|
Bankers : |
·
The Shamrao Vithal Cooperative Bank Limited G-4,
Guru Amardas Bhawan, 78, Nehru Place, New Delhi - 110019, India ·
Kotak Mahindra Bank Limited, 36-38A, Nariman
Bhavan, 227,D, Nariman Point, Mumbai-400021, Maharashtra, India |
|||||||||||||||
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Facilities : |
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Banking Relations
: |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Kamdar Desai Patel Chartered Accountant |
|
Address : |
Vasaikar House, 296 Cadell Road, Dadar, Mumbai-400028, Maharashtra,
India |
|
Tel. No.: |
91-22-24475000 |
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Fax No.: |
91-22-24475001 |
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E-Mail : |
|
|
Website : |
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PAN No: |
AAAFK6984H |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1403500 |
Equity Shares |
Rs.10/- each
|
Rs.14.035
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 |
14.035 |
14.035 |
14.035 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
116.705 |
109.501 |
104.055 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
130.740 |
123.536 |
118.090 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
166.228 |
117.644 |
138.751 |
|
|
2] Unsecured Loans |
42.492 |
63.320 |
50.977 |
|
|
TOTAL BORROWING |
208.720 |
180.964 |
189.728 |
|
|
DEFERRED TAX LIABILITIES |
0.345 |
0.422 |
1.447 |
|
|
|
|
|
|
|
|
TOTAL |
339.805 |
304.922 |
309.265 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
179.554 |
184.153 |
189.911 |
|
|
Capital work-in-progress |
35.075 |
30.500 |
26.522 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.370 |
0.370 |
0.370 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
52.150
|
61.093 |
65.274
|
|
|
Sundry Debtors |
84.109
|
63.796 |
74.244
|
|
|
Cash & Bank Balances |
11.935
|
13.112 |
6.776
|
|
|
Other Current Assets |
2.133
|
2.107 |
12.811
|
|
|
Loans & Advances |
29.242
|
27.231 |
12.246
|
|
Total
Current Assets |
179.569
|
167.339 |
171.351 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
40.709
|
65.820 |
|
|
|
Other Current Liabilities |
5.994
|
5.759 |
77.856
|
|
|
Provisions |
8.060
|
5.861 |
1.033
|
|
Total
Current Liabilities |
54.763
|
77.440 |
78.889
|
|
|
Net Current Assets |
124.806
|
89.899 |
92.462
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
339.805 |
304.922 |
309.265 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
512.812 |
492.002 |
561.608 |
|
|
|
Other Income |
1.141 |
0.000 |
0.007 |
|
|
|
TOTAL (A) |
513.953 |
492.002 |
561.615 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
329.246 |
305.024 |
|
|
|
|
Employee Benefits Expenses |
36.297 |
43.394 |
518.245 |
|
|
|
Other Expenses |
95.999 |
101.999 |
|
|
|
|
Increase/Decrease in Finished Goods and Work in Progress |
4.070 |
0.165 |
|
|
|
|
TOTAL (B) |
465.612 |
450.582 |
518.245 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
48.341 |
41.420 |
43.370 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
21.471 |
16.989 |
18.311 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
26.870 |
24.431 |
25.059 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
17.543 |
18.061 |
18.365 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
9.327 |
6.370 |
6.694 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.123 |
0.925 |
2.763 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
7.204 |
5.445 |
3.931 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
NA |
16.286 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
20.217 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
3.175 |
1.317 |
2.019 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
0.120 |
|
|
|
|
Raw Materials |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
5.13 |
3.88 |
2.80 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.40
|
1.10 |
0.69
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.82
|
1.29 |
1.19
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.60
|
1.81 |
1.85
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.05 |
0.05
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.60
|
1.46 |
1.60
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.27
|
2.16 |
2.17
|
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 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 |
42.492 |
63.320 |
|
TOTAL
|
42.492 |
63.32 |
OPERATIONS:
The sales of the company during the year
2011-2012 were increased to Rs.513.954 Millions as compared to Rs.492.002
Millions in the previous year (i.e. 2010-2011) and profit after tax for the year
2011-2012 was increased to Rs.7.204 Millions as compared to Rs.5.445 Millions
in the previous year (i.e. 2010-11).
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Modification of
charge |
|
Charge identification
number of the modified |
10320035 |
|
Corporate
identity number of the company |
U74999MH1986PLC074410 |
|
Name of the
company |
PARADISE PLASTICS
ENTERPRISES LIMITED |
|
Address of the
registered office or of the principal place of business in |
1203-A, Highland Park, Lokhandwala Complex, Off New Link
Road, Andheri (West), Mumbai – 400053, Maharashtra, India |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
The Shamrao Vithal
Cooperative Bank Limited G-4, Guru Amardas Bhawan, 78, Nehru Place, New Delhi
- 110019, India Email: puraniksb@svcbank.com |
|
Nature of
description of the instrument creating or modifying the charge |
Recording Letter
Evidencing Deposit of Title Deeds |
|
Date of
instrument Creating the charge |
17.07.2012 |
|
Amount secured by
the charge |
Rs.179.800
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit- At
PLR Less 3.00% at present 14.00% p.a., CSBP/Bills DISCT. - At PLR Less 3.50%
at present 13.50% p.a., TERM LOANS -At PLR Less 2.25% at present 14.75%, LC
and BG- Com. as per card Rate. Terms of Repayment Cash Credit on
demand. Term Loan of Rs. 67.000 Millions repayable in 84EMI
of Rs. 1.285 Millions per month Term Loan of Rs.
7.800 Millions repayable in EMI of Rs.0.150 Million/- per month Prepayment of the
loan / credit facility will attract penalty charges @ 2.50%p.a. if the facility is taken over/Prepaid
within the first 3 yrs. from the date of the first disbursement. Margin Cash Credit of
Rs.35.000 Millions-25% CSBP/Bills
Discounting of Rs. 50.000 Millions-10% of the invoice value in case of
CSBP/Nil incase of bills discounting Term Loan of Rs.
67.000 Millions-25% Term Loan of Rs.
7.800 Millions -40% Bank Guarantee of
Rs.10.000 Millions-15% in FD Inland/Import(DP/DA
not exceeding 120 days) Letter of Credit of Rs. 10.000 Millions-15% in FD Extent and Operation of the charge Security for Cash
Credit of Rs. 35.000 Millions - Hypothecation of Stocks and Book Debts as per
schedule II A and B, CSBP/Bills Discount.-Rs.50.000 Millions- Invoices/
Hundies accepted by reputed clients like HMSI/LG electronics and other
reputed clients, Term Loan of Rs. 67.000 Millions and 7.800 Millions - First
and exclusive equitable mortg. over entire fixed assets of the comp. present
and future, Bank Guarantee-Counter Guarantee, Inland/Import (DP/DA not
exceeding 120 days) LOC- Doc. of Title
to material, BG-Counter Guarantee. Others As per Agreement |
|
Short particulars
of the property charged |
Industrial Plot
No. D-1, Site-V, UPSIDC, SURAJPUR INDUSTRIAL AREA, KASNA SITE-2, Greater
Noida-201306(U.P) along with building standing thereon admeasuring
50935sq.ft. |
|
Date of latest
modification prior to the present modification |
19.11.2011 |
|
Particulars of
the present modification |
Credit Facility
of Rs. 179.800 Millions is further secured by Equitable Mortgage of Property
bearing No. D-1, Site-5, UPSIDC, Surajpur Industrial Area, Kasna, Greater
Noida- 201306 along with the structures standing thereon by Recording Letter
Evidencing Deposit of Title Deeds dated 17th July, 2012 |
FIXED ASSETS:
- Electrical Installation
- Furniture and Fixture
- Office Equipment
- Motor Vehicle
- Computer
- Building
- Plant and Machinery
- Mould
- Material Handling Crates
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.54.88 |
|
|
1 |
Rs.83.54 |
|
Euro |
1 |
Rs.70.90 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
49 |
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.