MIRA
INFORM REPORT
|
Report Date : |
20.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
FLEMINGO DUTYFREE SHOP PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No. D-73/1, TTC Industrial Area, MIDC Turbhe, Navi Mumbai - 400705,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
05.03.2004 |
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|
|
|
Com. Reg. No.: |
11-144881 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 400.333 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999MH2004PTC144881 |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Setting up duty free shops at various airports in India and
at such other places as the Government of India or any other appropriate
authority may sanction. |
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|
|
|
No. of Employees
: |
350 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 5400000 |
|
|
|
|
Status : |
Satisfactory |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record.
Latest financials are not available. From the previous year financial, it seems
that the company has performed well during the year 2011. Trade relations are
reported as fair. Business is active. Payment terms are unknown. The company can be considered normal for business dealings at usual
trade terms and condition. Note : Due to technical error in the government sites, we hereby provide you the report with available details and we would provide you with a on the same company as soon as we get the additional information. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Non Fund Based : BBB |
|
Rating Explanation |
Moderate degree of safety it carry moderate
credit risk. |
|
Date |
January 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term : A2 |
|
Rating Explanation |
Strong degree of safety it carry low credit
risk. |
|
Date |
January 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 (GENERAL DETAILS)
|
Name : |
Mr. Nitin Sanghvi |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-66269999 |
|
Date : |
19.04.2013 |
LOCATIONS
|
Registered Office : |
D-73/1 TTC Industrial Area, MIDC, Turbhe, Navi Mumbai-
400705, |
|
Tel. No.: |
91-22-27619126/ 27672719-20/ 66269999 |
|
Fax No.: |
91-22-27630624/ 27672718 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Admin Office : |
Old No. 16A, New No. 35, 1st Floor KV Apartments Poes, Chennai -
600086, Tamilnadu, India |
|
Tel. No.: |
91-44-43144736 |
|
Fax No.: |
91-44-24992412 |
|
|
|
|
Airports : |
Located at: Ø
Ahmedabad Ø
Amritsar Ø
Calicut Ø
Chennai Ø
Goa Ø
Lucknow Ø
Kolkata Ø
Jaipur Ø
Mangalore Ø
Pune Ø
Trichy Ø
Trivandrum |
|
|
|
|
Sea Ports : |
Located at: Ø Chennai Ø Goa Ø Haldia Ø Mangalore Ø Mumbai Ø Mundra Ø Paradip Ø Vizag |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Rasiklala Rattilal Thakker |
|
Designation : |
Director |
|
Address : |
P O Box No. 61239, Jebel Ali Free Zone, Dubai - 61239, United Arab Emirates |
|
Date of Birth/Age : |
13.03.1954 |
|
Date of Appointment : |
05.03.2004 |
|
DIN No.: |
00539051 |
|
|
|
|
Name : |
Mr. Mahandra Kumar Parashothamdas Thakar |
|
Designation : |
Director |
|
Address : |
P O Box No. 61239, Jebel Ali Free Zone, Dubai - 61239, United Arab Emirates |
|
Date of Birth/Age : |
20.02.1952 |
|
Date of Appointment : |
05.03.2004 |
|
DIN No.: |
00547983 |
|
|
|
|
Name : |
Mr. Viren Vini Ahuja |
|
Designation : |
Director |
|
Address : |
Bungalow No. 1, Neelkanth Theerth, Road No-6, Chembur, Mumbai – 400088, Maharashtra, India |
|
Date of Birth/Age : |
21.08.1964 |
|
Date of Appointment : |
05.03.2004 |
|
DIN No.: |
00016317 |
|
|
|
|
Name : |
Mr. Atul Vini Ahuja |
|
Designation : |
Director |
|
Address : |
Gulmohar Lal, J D Gupta Marg, Deonar, Mumbai - 400088, Maharashtra, India |
|
Date of Birth/Age : |
07.08.1962 |
|
Date of Appointment : |
05.03.2004 |
|
DIN No.: |
00015713 |
|
|
|
|
Name : |
Mr. Sumeet Chandra Narang |
|
Designation : |
Director |
|
Address : |
M-11, Hari Nagar, Mayapuri, New Delhi -110064, India |
|
Date of Birth/Age : |
11.01.1976 |
|
Date of Appointment : |
24.09.2008 |
|
DIN No.: |
01874599 |
KEY EXECUTIVES
|
Name : |
Mr. Nitin Sanghvi |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Viren Vini Ahuja |
|
8187 |
|
Arjun A. Ahuja |
|
4094 |
|
Karan A. Ahuja |
|
4093 |
|
Flemingo International Limited, UAE |
|
37200 |
|
Symbolic Infra Projects Private Limited, |
|
642 |
|
Sites Infra Projects Private Limited, India |
|
1284 |
|
|
|
|
|
Total |
|
55500 |
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Walker Investments, Mauritius |
|
4000000 |
|
|
|
|
|
Total |
|
4000000 |
AS ON 28.12.2012
|
Names of Allottees (Equity Shares) |
|
No. of Shares |
|
Walker Investments, Mauritius |
|
3365 |
|
|
|
|
|
Total |
|
3365 |
AS ON 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
67.03 |
|
Bodies
corporate |
|
3.47 |
|
Directors
or relatives of directors |
|
29.50 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Setting up duty free shops at various airports in |
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Terms : |
|
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
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||||||||||||
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No. of Employees : |
350 (Approximately) |
||||||||||||
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||||||||||||
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Bankers : |
Ø Yes Bank
Limited, 9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant
Road, Worli, Mumbai- 400018, Maharashtra, India [Tel No.: 91-22-66699000] Ø The Federal Bank
Limited, 51 Apsara Apartments, Sector 17, Vashi - Navi Mumbai, Mumbai -
400702, Maharashtra, India [91-22-24899656] Ø Dhanlaxmi Bank
Limited, Janmabhoomi Bhavan, Janmabhoomi Marg, Fort, Mumbai – 400001,
Maharashtra, India [91-22-22022943] |
||||||||||||
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Facilities : |
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||||||||||||
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Uberoi Sood and Kapoor Chartered Accountants |
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Address : |
606, Vishal Bhavan, |
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PAN.: |
AAASU1674L |
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|
|
|
Holding Company: |
Ø Flemingo
International Limited * |
|
|
|
|
Subsidiaries : |
Ø Iris Ekspree
Gumruksuz Satis Magazalari Ticaret A.S** Ø Subsidary
Company 3 Flemingo International Limited *** Ø Flemingo (DFS)
Private Limited**** Ø Flemingo Liners Private
Limited***** Ø Flemingo
Dutyfree Shop (Mumbai) Private Limited****** Ø Flemingo DFS
Private Limited (CIN: U99999MH2003PTC157291) Note: *Ceased to be
holding company w.e.f 16th Mar 2011 ** 51% Equity
Shares of the Company transferrd on 10th Jan 2011 *** 100% Equity
Shares of the Company transferrd on 31st Mar 2011 **** 100% Equity
Shares of the Company transferrd on 31st Mar 2011 *****100% Equity
Shares of the Company transferrd on 28th Mar 2011 ******100%
Equity Shares of the Company transferrd on 28th Mar 2011 |
|
|
|
|
Enterprises over which key management personnel
or their relative
exercise significant influence: |
Ø Flemingo DFS
Private Limited**** Ø Venus Design Ø Flemingo
Jewellery India Private Limited Ø Bermaco Energy
Private Limited Ø Bermaco
Industries Limited Ø Dutyfree
Distribution Services Private Limited |
CAPITAL STRUCTURE
AFTER 29.09.2012
Authorised Capital : Rs.
500.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 0.507 Million
AS ON 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs. 100.000 Millions |
|
4000000 |
Preference Shares |
Rs.100/- each |
Rs. 400.000 |
|
|
Total |
|
Rs. 500.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
55500 |
Equity Shares |
Rs.10/- each |
Rs. 0.555
Million |
|
4000000 |
Preference Shares |
Rs.100/-
each |
Rs. 400.000
Millions |
|
|
Total |
|
Rs. 400.555 Millions |
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs. 100.000 Millions |
|
4000000 |
Preference Shares |
Rs.100/- each |
Rs. 400.000 |
|
|
Total |
|
Rs. 500.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
33300 |
Equity Shares |
Rs.10/- each |
Rs. 0.333
Million |
|
4000000 |
Preference Shares |
Rs.100/-
each |
Rs. 400.000
Millions |
|
|
Total |
|
Rs. 400.333 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
400.333 |
400.250 |
400.254 |
|
|
2] Share Application Money |
0.000 |
0.004 |
74.500 |
|
|
3] Reserves & Surplus |
951.910 |
539.329 |
460.107 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1352.243 |
939.583 |
934.861 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
562.977 |
50.271 |
0.000 |
|
|
2] Unsecured Loans |
149.790 |
347.028 |
20.490 |
|
|
TOTAL BORROWING |
712.767 |
397.299 |
20.490 |
|
|
DEFERRED TAX LIABILITIES |
7.115 |
5.972 |
4.456 |
|
|
|
|
|
|
|
|
TOTAL |
2072.125 |
1342.854 |
959.807 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
151.207 |
79.235 |
77.864 |
|
|
Capital work-in-progress |
2.108 |
3.169 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
1546.436 |
19.364 |
9.364 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
444.849
|
390.838 |
485.318
|
|
|
Sundry Debtors |
17.597
|
299.119 |
119.671
|
|
|
Cash & Bank Balances |
288.013
|
239.507 |
222.237
|
|
|
Other Current Assets |
0.000
|
0.000 |
6.337
|
|
|
Loans & Advances |
246.665
|
620.363 |
455.108
|
|
Total
Current Assets |
997.124
|
1549.827 |
1288.671 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
513.982
|
123.806 |
14.398
|
|
|
Other Current Liabilities |
79.404
|
156.865 |
124.027
|
|
|
Provisions |
31.364
|
28.070 |
277.667
|
|
Total
Current Liabilities |
624.750
|
308.741 |
416.092 |
|
|
Net Current Assets |
372.374
|
1241.086 |
872.579 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2072.125 |
1342.854 |
959.807 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1578.330 |
1385.564 |
1401.628 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
274.388 |
137.490 |
209.579 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
14.919 |
11.083 |
9.271 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
259.469 |
126.407 |
200.308 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
54.305 |
47.184 |
76.038 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
205.164 |
79.223 |
124.270 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
535.269 |
456.046 |
331.776 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
740.433 |
535.269 |
456.046 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
1325.958 |
1342.467 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
355.167 |
579.743 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
47.34 |
3169.00 |
4971.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Net Profit Margin (PBT/Sales) |
(%) |
16.44
|
9.12 |
14.29 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
22.60
|
7.76 |
14.66 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.13 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.53
|
0.42 |
0.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.60
|
5.02 |
3.10 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
(Rs. In Millions) |
||
|
Sundry Creditors due to others |
513.982
|
123.806 |
14.398
|
|
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 |
Yes |
|
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 |
Yes |
|
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 |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOANS
|
Unsecured Loans |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
|
|
Working capital loans banks unsecured |
0.000 |
250.668 |
|
Working capital loans others unsecured |
137.391 |
89.655 |
|
Loans taken for vehicles unsecured |
12.399 |
6.705 |
|
Total |
149.790 |
347.028 |
PERFORMANCE
The Sales during
the year is Rs.1578.330 Millions as against Rs.1385.564 Millions in the
previous year. The Company during the year earned profit after tax of
Rs.205.163 Millions as against Rs.79.222 Millions in the previous year.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U74999MH2004PTC144881 |
|
Name of the
company |
FLEMINGO DUTYFREE
SHOP PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
D-73/1 TTC Industrial Area, MIDC, Turbhe, Navi Mumbai,
Maharashtra- 400705, |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10311817 |
|
Type of charge |
Immovable property |
|
Particular of
charge holder |
The Federal Bank Limited, 51 Apsara Apartments, Sector 17, Vashi -
Navi Mumbai, Mumbai - 400702, Maharashtra, India Email: bbyi@federalbank.co.in |
|
Nature of
instrument creating charge |
Deposit of Title
Deeds |
|
Date of
instrument Creating the charge |
16.04.2012 |
|
Amount secured by
the charge |
Rs. 950.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Extent and
operation of the charge The Charge will operate
to the extent of Rs. 950.000 Millions on the security offered by the Company. Nature of
Limit
Amount(Rs.) -------------------- ----------------------- BG/ Import
LC 550.000
Millions Overdraft
70.000 Millions PCFC/ EBRD 80.000
Millions Short Term
Loan 250.000
Millions |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
A) Property
situated at First Floor, K V Apartments comprised in old door no. 16/A/2, New
Door No. 35/2, Poes Garden, Gopalapuram, Chennai comprised in RS No. 1577/87
with residential building existing and/ or to be constructed. B) Property
situated at Flat No. 3, Third Floor, Maris Skai, at Plot No. 67, Door No. 10,
First Cross Street, Seethammal Extension, Teynampet, Chennai - 600 018
comprised in New RS No. 3389/49 with residential building existing and/ or to
be constructed. |
|
Date of last modification prior to the present modification |
By present modification made on 16.04.2012, the Bank has sanctioned
additional limit of BG/ Import LC of Rs. 550.000 Millions, Overdraft of Rs.
70.000 Millions, PCFC/ EBRD of Rs. 8 Millions and Short Term Loan of Rs.
250.000 Millions thereby total charge increased from Rs. 250.000 Millions to
Rs. 950.000 Millions on Immovable Property. |
CONTINGENT LIABILITY (31.03.2011)
Bank Guarantees issued by the bank on behalf of the company in normal course of business Rs.923.771 Millions (Previous Year Rs.498.849 Millions)
Double Duty Bond aggregating to Rs. 459.400 Millions (Previous Year Rs.459.400 Millions) in favour of the Customs departmentfor obtaining the warehouse licence forduty free business at Airports of Pune,Goa, Ahmedabad , Kolkata, Mangalore, Paradip, Calicut, Trichy, Mundra , Mumbai Portand Chennai.
Commercial Tax Officer, Chennai videnotice dated 05.07.2005 has issued a Pre-assessment notice proposing to charge Tamilnadu General Sales Tax amounting to Rs. 20.080 Millions and surcharge of Rs.1.004 Millions and penalty of Rs. 31.626 Millions. The Company had filed a Writ Petition against the notice with the High Court of Tamilnadu. The argument washeard by the Honourable High Court and pending for the final decision.
Commissioner of Customs, Marmagoa , Goavide letter dated F.NO S/14-08/08-B had Claimeda sum of Rs. 96,66,209/-together with interest on non-duty paid warehouse goods valued at Rs. 6.297 Millions for the period 2007-2008. The company has gone in appeal against this order andthe matter is pending before Joint Commissioner of Central Excise and Custom Goa, Marmagoa. A sum ofRs.3.000 Millions has been deposited under protest.
An additional amount of Euro Rs. 5.000 Millions is payable to the transferors of the Rs. 0.255 Million Fully Paid up Equity shares of TL 1each of Turkish Subsidiary company 'Iris Ekspree Gumruksuz Satis Magazalari Ticaret A.S.', is payable upon certain pending litigation against the company being settled in favour of the company. Equity shares of Rs. 0.130 Million out of the Rs. 0.255 Million Equity shares are pledged with the Transferors of the Equity shares as security.
FIXED ASSETS:
Ø Furniture and Fixture
Ø Air conditioner
Ø Computer
Ø Bar code scanner and printer
Ø Fire Extinguisher
Ø Mobile Phone
Ø Vehicles
Ø Fax Machines
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. 54.03 |
|
|
1 |
Rs. 82.43 |
|
Euro |
1 |
Rs. 70.49 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
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.