1. Summary Information
|
Country |
India |
||
|
Company Name |
GREAT EASTERN
APPLIANCES PRIVATE LIMITED |
Principal Name 1 |
Mr. Nirmal Kumar Baid |
|
Status |
Moderate |
Principal Name 2 |
Mr. Prem Baid |
|
Registration # |
21-086420 |
||
|
Street Address |
15B, Sarat Bose
Road, Kolkata-700020, West Bengal |
||
|
Established Date |
28.01.1998 |
SIC Code |
-- |
|
Telephone# |
91-33-22103649 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-33-22420180 |
Business Style 2 |
Exporter |
|
Homepage |
Not Available |
Product Name 1 |
Air Conditioners |
|
# of employees |
Not Available |
Product Name 2 |
Furniture and Fixtures |
|
Paid up capital |
Rs.100,000,000/- |
Product Name 3 |
Television |
|
Shareholders |
Bodies corporate -20.24% Directors or
relatives of Directors - 79.67%, Other top fifty shareholders - 00.10% |
Banking |
United Bank of
India |
|
Public Limited Corp. |
No |
Business Period |
15 Years |
|
IPO |
No |
International Ins. |
-- |
|
Public |
No |
Rating |
B (27) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Associates |
India |
Sanchiya Developers Private Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
163,300,000 |
Current Liabilities |
50,221,000 |
|
Inventories |
506,764,000 |
Long-term Liabilities |
757,694,000 |
|
Fixed Assets |
192,798,000 |
Other Liabilities |
12,495,000 |
|
Deferred Assets |
773,000 |
Total Liabilities |
820,410,000 |
|
Invest& other Assets |
171,774,000 |
Retained Earnings |
114,999,000 |
|
|
|
Net Worth |
214,999,000 |
|
Total Assets |
1,035,409,000 |
Total Liab. & Equity |
1,035,409,000 |
|
Total Assets (Previous Year) |
1,079,812,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales Turnover |
2,000,000,000 |
Net Profit |
49,751,000 |
|
Sales Turnover (Previous yr) |
1,800,000,000 |
Net Profit(Prev.yr) |
19,999,000 |
MIRA INFORM REPORT
|
Report Date : |
16.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
GREAT EASTERN APPLIANCES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Technocity, 15B, Sarat Bose Road, Kolkata-700020, West Bengal |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
28.01.1998 |
|
|
|
|
Com. Reg. No.: |
21-086420 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.100.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U63022WB1998PTC086420 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALG02081C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCG1741J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Air Conditioners, Furniture and Fixtures,
Air Coolers, Refrigeration, Television, Audio and Video Equipments. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 850000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a 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 great
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
LONG TERM RATING : CRISIL BB- |
|
Rating Explanation |
Crisil has suspended its rating due to lack of information. |
|
Date |
April 2013 |
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 (FINANCIAL DETAILS)
|
Name : |
Mr. Vakil Sharma |
|
Designation : |
Finance Executive |
|
Contact No.: |
91-33-66347822 |
|
Date : |
04.04.2013 |
LOCATIONS
|
Registered Office : |
Technocity, 15B, Sarat Bose Road, Kolkata-700020, West Bengal, India |
|
Tel. No.: |
91-33-22103649/ 66347822 / 22895388 / 89 / 90 |
|
Fax No.: |
91-33-22420180 / 22895625 |
|
E-Mail : |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Nirmal Kumar Baid |
|
Designation : |
Director |
|
Address : |
8, Heysham Road, Kolkata – 700020, West Bengal, India |
|
Date of Birth/Age : |
10.09.1954 |
|
Qualification : |
B. Com (Hons) |
|
Experience : |
30 Years |
|
Date of Appointment : |
28.01.1998 |
|
PAN No.: |
AEIPB7815A |
|
DIN No.: |
00541706 |
|
|
|
|
Name : |
Mr. Prem Baid |
|
Designation : |
Director |
|
Address : |
8, Heysham Road, Kolkata – 700020, West Bengal, India |
|
Date of Birth/Age : |
15.08.1958 |
|
Date of Appointment : |
18.04.2002 |
|
PAN No.: |
AEHPB1402Q |
|
DIN No.: |
00550958 |
|
|
|
|
Name : |
Ms. Pooja Baid |
|
Designation : |
Director |
|
Address : |
8, Heysham Road, Kolkata – 700020, West Bengal, India |
|
Date of Birth/Age : |
06.04.1984 |
|
Date of Appointment : |
01.09.2005 |
|
PAN No.: |
AHTPB1497J |
|
DIN No.: |
00541680 |
KEY EXECUTIVES
|
Name : |
Mr. Vakil Sharma |
|
Designation : |
Finance Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
Nirmal Kumar Baid |
4014500 |
|
Punam Baid |
120000 |
|
Hemraj Baid |
10000 |
|
Prem Baid |
1331500 |
|
Pulkit Baid |
1967500 |
|
Sanchiya Developers Private Limited, India |
983500 |
|
Sanchiya Niketan Private Limited, India |
960000 |
|
Pooja Baid |
530000 |
|
Gaurav Agencies Private Limited, India |
20000 |
|
Glores Business Private Limited, India |
30000 |
|
Novex Trade and Holdings Private Limited, India |
30000 |
|
Garima Baid |
1500 |
|
Tanishka Baid |
1500 |
|
TOTAL
|
10000000 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
Percentage |
|
Bodies corporate |
20.24 |
|
Directors or relatives of Directors |
79.67 |
|
Other top fifty shareholders |
00.10 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Air Conditioners, Furniture and Fixtures,
Air Coolers, Refrigeration, Television, Audio and Video Equipments. |
||||||||
|
|
|
||||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
Note : (A) Term Loan - United Bank Of India (Secured by equitable mortgage of Land and Buildings of the Company at Sarat Bose Road, Howrah show room and Behala showroom and all other movable fixed assets of the Company both present and future, repayable @ Rs. 2.320 Millions per quarter and Rs 1.250 Millions per month) Term Loan - HDFC Bank (Secured by equitable mortgage of Land and Buildings of the Company at Behala both Residential and commercial, repayable @ Rs 0.858 Million per month) Standard Chartered Bank (Secured by quitable mortgage of Residential property at Rowland Road Kolkata, repayable @ Rs 1.469 Millions per month ) (B) United Bank Of India-C.C. A/c. (Secured by exclusive charge on the entire stock of goods of the company and book debt (excluding credit card receivable) both present and future) Loan Against Credit Card from HDFC Bank (Secured by First and Exclusive Hypothecation on Credit Card Receivables) |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution: |
Bajaj Finance
Limited, Akurdi, Pune – 411035, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
U Chartered Accountants |
|
Address : |
42/1, |
|
Tel. No.: |
91-33-22374622 |
|
E-Mail : |
|
|
PAN No.: |
AAAFU8724F |
|
|
|
|
Associates : |
CIN
NO : U70101WB1998PTC087924
CIN
NO : U70101WB1998PTC088233
CIN
NO : U70101WB1992PTC056938 |
CAPITAL STRUCTURE
As on 28.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000
Millions |
|
|
|
|
|
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000
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 |
100.000 |
85.800 |
85.000 |
|
|
2] Share Application Money |
0.000 |
0.040 |
1.040 |
|
|
3] Reserves & Surplus |
114.999 |
112.692 |
67.424 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
214.999 |
198.532 |
153.464 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
591.138 |
679.518 |
538.934 |
|
|
2] Unsecured Loans |
166.556 |
119.195 |
66.967 |
|
|
TOTAL BORROWING |
757.694 |
798.713 |
605.901 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
972.693 |
997.245 |
759.365 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
192.798 |
192.902 |
124.441 |
|
|
Capital work-in-progress |
171.168 |
131.959 |
164.858 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.606 |
0.606 |
0.606 |
|
|
DEFERREX TAX ASSETS |
0.773 |
23.785 |
5.715 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
506.764
|
560.074
|
446.198
|
|
|
Sundry Debtors |
15.358
|
29.719
|
21.262
|
|
|
Cash & Bank Balances |
62.974
|
36.572
|
8.522
|
|
|
Other Current Assets |
0.195
|
0.000
|
0.000
|
|
|
Loans & Advances |
84.773
|
103.960
|
93.656
|
|
Total
Current Assets |
670.064
|
730.325
|
569.638 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
42.120
|
48.390
|
75.880
|
|
|
Other Current Liabilities |
8.101
|
10.389
|
17.904
|
|
|
Provisions |
12.495
|
23.788
|
12.388
|
|
Total
Current Liabilities |
62.716
|
82.567
|
106.172 |
|
|
Net Current Assets |
607.348
|
647.758
|
463.466
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.235 |
0.279 |
|
|
|
|
|
|
|
|
TOTAL |
972.693 |
997.245 |
759.365 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income / Sales Turnover |
2000.000 (Approximately) |
1800.000 (Approximately) |
1221.156 |
|
|
|
Other Income |
N.A |
N.A |
3.503 |
|
|
|
TOTAL |
N.A |
NA |
1224.659 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
|
1080.852 |
|
|
|
Administrative and Selling Expenses |
|
|
116.495 |
|
|
|
TOTAL |
N.A |
NA |
1197.347 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
N.A |
NA |
27.312 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
N.A |
NA |
7.768 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX |
37.537 |
31.428 |
19.544 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
12.214 |
11.429 |
5.801 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
49.751 |
19.999 |
13.743 |
|
|
|
|
|
|
|
|
|
|
Provision for
Earlier Year |
N.A |
0.000 |
(0.169) |
|
|
|
|
|
|
|
|
|
|
Deferred Tax
Liability |
N.A |
0.000 |
6.003 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
105.492 |
67.425 |
47.848 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
N.A |
105.492 |
67.425 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.98 |
2.36 |
2.33 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
NA
|
1.12
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA
|
1.60
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.35
|
3.32
|
2.82
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17
|
0.16
|
0.13
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
3.52
|
4.44
|
4.64
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
10.68
|
8.85
|
5.37
|
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 |
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
DETAILS OF
UNSECURED LOAN:
(Rs.
In Millions)
|
Particulars |
|
31.03.2012 |
|
Deposits from Shareholders |
|
9.056 |
|
Other Loans and Advances |
|
157.500 |
|
TOTAL |
|
166.556 |
|
Particulars |
|
31.03.2011 |
|
Working capital loans
unsecured |
|
|
|
Working capital loans others unsecured |
|
119.195 |
|
TOTAL |
|
119.195 |
NOTE:
The registered office of the company has been shifted from 20, Old Court
House Street w.e.f 23.09.1999, P S Hare Street, Kolkata – 700 001, West Bengal,
India to the present address w.e.f. 01.04.2012
FINANCIAL RESULTS:
The working of the company showed a net profit of Rs. 37.537 Millions before providing for Provision for Tax of Rs. 12.214 Millions which along with the brought forward profit of Rs. 105.492 Millions is carried to next year.
BANKERS CHARGES
REPORT AS PER REGISTRY:
|
Corporate
identity number of the company |
U63022WB1998PTC086420 |
|
Name of the
company |
GREAT EASTERN
APPLIANCES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
15B, Sarat Bose Road, Kolkata-700020, West Bengal, India Email : agarwal.us@gmail.com |
|
This form is for |
Creation of charge |
|
Type of charge |
Immovable property |
|
Particular of
charge holder |
Bajaj Finance
Limited, Akurdi, Pune – 411035, Maharashtra, India Email : anant.damle@bajajfinserv.in
|
|
Nature of
instrument creating charge |
Equitable
mortgage Loan Agreement dated 24th December 2012 |
|
Date of
instrument Creating the charge |
24.12.2012 |
|
Amount secured by
the charge |
Rs. 20.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest 12.00% floating Terms of Repayment 120 equated
Monthly Installment of Rs.0.287 Million Margin 7.75% (19.75% -
7.75%= 12.00%) Extent and Operation of the charge First and
Exclusive Charge over the mortgaged property to secure loan amount along with
all other dues payable by borrowers. the loan shall in all circumstances rank
superior to any subsequent mortgage/Charge on the mortgaged property. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Akshara Pearl, Block-II, Ground Floor, Premises No-200, N S Road (Holding No 200), P.S-Sonapur, Ward No-24, Kolkata-700103 having commercial showroom SBU of 5900 sq. ft. |
FIXED ASSETS
- Land
- Building
- Computer
- Furniture
- Electrical
Installation
- Fax
- Mobile Phone
- Motor Car
- Mini Tempo
- Air
Conditioner
- Notes
Counting Machine
- Time Scanner
- Generator Set
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.54.63 |
|
|
1 |
Rs.83.70 |
|
Euro |
1 |
Rs.71.42 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.