MIRA
INFORM REPORT
|
Report Date : |
19.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
MARVEL SIGMA
HOMES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
4th
Floor, Above IDBI Bank, Arthavishwa Building, Lane No.5, Koregaon Park, Pune –
411 006, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
18.06.2010 |
|
|
|
|
Com. Reg. No.: |
11-136619 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.397
million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45200PN2010PTC136619 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the development of property. |
|
|
|
|
No. of Employees
: |
Information declined by the Management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (15) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow and delayed |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of ‘Marvel Promoters and Developers (Pune)
Private Limited’. It is a company having moderate track record. There appear huge accumulated recorded by the company which has
severely deteriorated the liquidity. The external borrowings of the company
are also huge. It has recorded some revenue which is recognized as per percentage of
project completion method. It is still in the process of completion of
various projects. It has recorded loss during 2012. However, business is active. Payment terms are slow and delayed. The company can be considered for business dealings on a safe and
secured 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long Term Bank Facilities: BB+ (SO) |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
May, 2012 |
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 DECLINED BY
|
Name : |
Mr. Vijay C. |
|
Designation : |
Chartered Accountant |
|
Contact No.: |
91-9822082221 |
|
Date : |
19.04.2013 |
LOCATIONS
|
Registered Office : |
4th Floor,
Above IDBI Bank, Arthavishwa Building, Lane No.5, Koregaon Park, Pune – 411
006, Maharashtra, India |
|
Tel. No.: |
91-20-26052920/ 26052921/ 32900573/ 26152920/ 26152921 |
|
Mobile No.: |
91-9822082221 (Mr. Vijay C.) |
|
Fax No.: |
91-20-66201389 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 27.09.2012
|
Name : |
Mr. Mahesh Bansilal Laddha |
|
Designation : |
Director |
|
Address : |
Flat No.1, Novelty Co-Operative Housing Society, Behind Maruti Care
Point, Near Chatursinghi Temple, Pune – 411 016, Maharashtra, India |
|
Date of Birth/Age : |
10.08.1965 |
|
Date of Appointment : |
18.06.2010 |
|
DIN No.: |
00158212 |
|
|
|
|
Name : |
Mr. Vishwajeet Subhash Jhavar |
|
Designation : |
Director |
|
Address : |
A-10, Flat No.1, Meera Nagar, Koregaon Park, Pune – 411 001, Maharashtra,
India |
|
Date of Birth/Age : |
03.05.1969 |
|
Date of Appointment : |
18.06.2010 |
|
DIN No.: |
00158203 |
KEY EXECUTIVES
|
Name : |
Mr. Vijay C. |
|
Designation : |
Chartered Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2012
|
Names of Shareholders (Ordinary Equity Shares) |
|
No. of Shares |
|
Vishwajeet Subhash Jhavar |
|
1 |
|
Marvel Promoters and Developers (Pune) Private Limited, India |
|
20733 |
|
ICICI Prudential Asset Management Company Limited A/c PMS-IOP, India |
|
7285 |
|
Total |
|
28019 |
|
Names of Shareholders (Series A - Equity Shares) |
|
No. of Shares |
|
ICICI Prudential Asset Management Company Limited A/c PMS-IOP, India |
|
5828 |
|
Total |
|
5828 |
|
Names of Shareholders (Series B - Equity Shares) |
|
No. of Shares |
|
Marvel Promoters and Developers (Pune) Private Limited, India |
|
5828 |
|
Total |
|
5828 |
As on 27.09.2012
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Bodies corporate |
|
99.997 |
|
Directors or relatives of directors |
|
0.003 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the development of property. |
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|
Products/ Services : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the Management |
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|
Bankers : |
·
State Bank of India, Commercial Branch, 1548/A, Sadashiv
Peth, Tilak Road, Pune – 411 030, Maharashtra, India ·
Kotak Mahindra Bank Limited, 36-38A, Nariman
Bhavan, 227D, Nariman Point, Mumbai – 400 021, Maharashtra, India ·
ICICI Bank Limited |
|||||||||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||||||||
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Facilities : |
|
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Financial Institutions : |
· TATA Capital Limited · Reliance Capital Limited |
|
|
|
|
Auditors : |
|
|
Name : |
B.B.S.R. and Company Chartered Accountants |
|
Address : |
703, 7th Floor, Godrej Castlemaine, Bund Garden Road, Pune
– 411 001, Maharashtra, India |
|
Tel. No.: |
91-20-30504000 |
|
Fax No.: |
91-20-30504100 |
|
Income-tax
PAN of auditor or auditor's firm : |
AAKFB4397F |
|
|
|
|
Holding Company : |
Marvel Promoters
and Developers (Pune) Private Limited CIN No.: U45200PN2007PTC130439 |
|
|
|
|
Company having significant influence : |
ICICI Prudential Asset Management Company Limited |
|
Entities over which Company, or key
management personnel or their relatives, exercise significant influence : |
·
Marvel Landmarks Private Limited ·
Marvel Promoters and Developers (Pune) Private
Limited ·
Marvel Edge Realtors Private Limited ·
Marvel Realtors and Developers Limited ·
Marvel Realtors ·
Marvel Zeta Developers Private Limited |
CAPITAL STRUCTURE
As on 27.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
892000 |
Ordinary Equity Shares |
Rs.10/- each |
Rs.8.920 millions |
|
49000 |
Series A - Equity Shares |
Rs.10/- each |
Rs.0.490 million |
|
49000 |
Series B - Equity Shares |
Rs.10/- each |
Rs.0.490 million |
|
|
Total |
|
Rs.9.900
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
28019 |
Ordinary Equity Shares |
Rs.10/- each |
Rs.0.281
million |
|
5828 |
Series A - Equity Shares |
Rs.10/- each |
Rs.0.058
million |
|
5828 |
Series B - Equity Shares |
Rs.10/- each |
Rs.0.058
million |
|
|
Total |
|
Rs.0.397 million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
0.397 |
0.397 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
(180.183) |
(63.253) |
|
|
NETWORTH |
|
(179.786) |
(62.856) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
792.760 |
421.623 |
|
|
2] Unsecured Loans |
|
147.448 |
149.258 |
|
|
TOTAL BORROWING |
|
940.208 |
570.881 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.031 |
|
|
|
|
|
|
|
|
TOTAL |
|
760.422 |
508.056 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
29.290 |
4.471 |
|
|
Capital work-in-progress |
|
17.949 |
3.633 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.062 |
0.000 |
|
|
DEFERRED TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
1385.400 |
311.863 |
|
|
Sundry Debtors |
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
|
68.263 |
90.770 |
|
|
Other Current Assets |
|
51.762 |
0.059 |
|
|
Loans & Advances |
|
497.174 |
327.245 |
|
Total
Current Assets |
|
2002.599 |
729.937 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
151.938 |
66.073 |
|
|
Other Current Liabilities |
|
1032.888 |
163.912 |
|
|
Provisions |
|
104.652 |
0.000 |
|
Total
Current Liabilities |
|
1289.478 |
229.985 |
|
|
Net Current Assets |
|
713.121 |
499.952 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
760.422 |
508.056 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
31.496 |
0.307 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
|
31.496 |
0.307 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
61.067 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
|
127.967 |
61.067 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
(96.471) |
(60.760) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
20.227 |
2.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
(116.698) |
(62.960) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
0.263 |
0.262 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
|
(116.961) |
(63.222) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
(0.031) |
0.031 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
|
(116.930) |
(63.253) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
|
(63.253) |
-- |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
(180.183) |
(63.253) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Components used in construction |
|
8.532 |
0.000 |
|
|
TOTAL IMPORTS |
|
8.532 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
|
(2947.19) |
(2772.05) |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
|
(371.25) |
(20603.58) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
(5.75) |
(8.61) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.65 |
1.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
(5.23) |
(9.08) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.55 |
3.17 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
|
31.03.2012 (Rs. in millions) |
31.03.2011 (Rs. in millions) |
|
Sundry Creditors |
|
|
|
|
- Dues to Micro
and Small Enterprises |
|
151.938 |
66.073 |
|
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 two years |
Yes |
|
12) Profitability for last two 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 |
No |
|
33)
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34)
External Agency Rating, if available |
Yes |
|
Unsecured Loans |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
1469549 Nos. (Previous year 1469549) 18% Optionally Convertible
Debentures of INR 100 each
(Unsecured) issued lo Marvel Promoters and Developers (Pune) Private Limited. |
146.955 |
146.955 |
|
Loans from Director |
0.255 |
0.104 |
|
Interest accrued and due on above loan |
0.238 |
2.199 |
|
Total
|
147.448 |
149.258 |
BACKGROUND
Subject is a Private
Limited Company. The shareholders of the Company are Marvel Promoters and
Developers (Pune) Private Limited and ICICI Prudential Asset Management Company
Limited. The Company is currently developing residential projects in Pune.
OPERATIONS AND FUTURE
PROSPECTS:
The Company is in
process of completion of various projects and has reported tremendous growth in
all its endeavours during the financial year. As per the accounting policy
adopted by the Company, the revenue is recognised as per the percentage of
project completion method and accordingly the Company will be recognizing the
revenue in the coming years, upon significant completion of the projects. In
line with the concerned accounting policy certain portion of projects
expenditure has also been capitalised and has been credited to project
expenditure account.
The Company has
reported loss for the financial year. However, the Board of Directors of the
Company are hopeful that it would be compensated in the forthcoming years.
Further, certain
new residential projects have also been commenced under the aegis of the
Company as well as few more projects are proposed to be undertaken shortly.
Bankers Charges
Report as per Registry
|
Corporate identity number of the company |
U45200PN2010PTC136619 |
|
Name of the company |
MARVEL SIGMA
HOMES PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
4th Floor,
Above IDBI Bank, Arthavishwa Building, Lane No.5, Koregaon Park, Pune – 411
006, Maharashtra, India E-Mail: office@chandakcs.com |
|
This form is for |
Modification of charge |
|
Charge identification number of the
modified |
10334578 |
|
Type of charge |
Immovable Property Any interest in immovable property |
|
Particular of charge holder |
State Bank of
India, Commercial Branch, 1548/A, Sadashiv Peth, Tilak Road, Pune – 411 030,
Maharashtra, India E-Mail: sbi04108@sbi.co.in |
|
Nature of description of the instrument
creating or modifying the charge |
No Objection Letter Received from ICICI Prudential
Asset Management Company Limited dated 17.12.2012. |
|
Date of instrument Creating the charge |
17.12.2012 |
|
Amount secured by the charge |
Rs.400.000 millions |
|
Brief particulars of the principal terms an
conditions and extent and operation of the charge |
Rate of Interest: (Same as per the initial deed of mortgage
dated 11.01.2012 without any change on present modification) Terms of Repayment: Tenor of 28 months. Principal repayment
starts from quarter ending December 2012, quarterly installment of Rs.67.500
millions and last quarterly installment of Rs.62.500 millions is payable in
March 2014. Margin: Not Applicable Extent and Operation of the charge: Simple Mortgage of Immovable Property Situated at village Hadapsar;
registered in the name of Navrang Constructions; Navrang Developers and Marvel Relators and
Developers Limited as more specifically detailed in Schedule I and Schedule
II of deed of mortgage dated 11.01.2012. (Same as per the initial deed of mortgage
dated 11.01.2012 without any change on present modification) Others: Same as per the initial deed of mortgage
dated 11.01.2012 and Sanction letter dated 12.12.2012. Filed at the time of
creation of charge. All the charges constitute a single
charge. By this No Objection Certificate dated
17.12.2012 received from ICICI Prudential Asset Management Company the charge
on Project Bounty's receivables is ceded in favour SBI. |
|
Short particulars of the property charged |
Such portion of Immovable property as was
initially mortgaged at the time of creation of charge other than the
"Amenity space" over which the charge has been released vide
Release Deed dated 30.05.2012 Floor Space Index (FSI) to be allotted by
town planning department/ Corporation/Government Body/ Local Body in respect
of the Immovable property mortgaged. (For (i) above "Amenity space"
admeasuring 3900 sq. mtrs. as more specifically detailed in the Deed of
Release dated 30.05.2012 and For the purpose of (i) above Immovable
property situated at Village Hadapsar, District Pune as more specifically
detailed in the deed of mortgage dated 11.01.2012 executed in this behalf.) |
|
Whether any of
the property or interest therein under reference is not registered in the
name of the company If yes, in whose
name it is registered |
Yes Navrang
constructions and Navrang developers along with Marvel Realtors and
Developers Limited. |
|
Date of latest modification prior to the
present modification |
30.05.2012 |
|
Particulars of the present
modification |
By this 2nd Modification the
amount of charge created i.e. 400.000 millions in favour State Bank of India
remains the same and only the first charge on the receivables of
"Project Bounty" are ceded in favour of State Bank of India to
create its first charge on the receivables of "Project Bounty" by
way of its No Objection Letter dated 17.12.2012 furnished by ICICI Prudential
Asset Management Company Limited, till the total charge of State Bank of
India is repaid in full. |
FIXED ASSETS:
·
Plant and Equipment
·
Computers
·
Office Equipments
·
Furniture and Fixtures
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.54.03 |
|
|
1 |
Rs.82.43 |
|
Euro |
1 |
Rs.70.49 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
1 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
|
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
15 |
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.