MIRA
INFORM REPORT
|
Report Date : |
23.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
ASSOCIATION OF MUTUAL FUNDS IN INDIA |
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Registered
Office : |
One Indiabulls Centre, Tower 2, Wing B 701, 7th Floor, 841,
S B Marg, Elphinstone Road, Mumbai 400013, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
22.08.1995 |
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Com. Reg. No.: |
11-092062 |
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Capital Investment
/ Paid-up Capital : |
Not Available |
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CIN No.: [Company Identification
No.] |
U65991MH1995NPL092062 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA16206B |
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PAN No.: [Permanent Account No.] |
AAACA5550A |
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Legal Form : |
Association |
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Line of Business
: |
Non Profit Making Association for Mutual Funds. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (62) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Maximum Credit Limit : |
USD 1000000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is the apex body of all the registered Asset Management Companies.
As of now, all the 44 Asset Management Companies that are registered with
SEBI, are its members. It recommends and promotes best business practices and code of conduct
to be followed by members and other engaged in the activities of mutual fund
and asset management including agencies connected or involved in the field of
capital markets and financial services. It is a well established company having a fine track record. Trade relations are reported as fair. Business is active. Payment
terms are regular and as per commitment. The company can be considered good 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.
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 DECLINED BY
Management non co-operative
LOCATIONS
|
Registered Office : |
One Indiabulls Centre, Tower 2, Wing B 701, 7th Floor, 841,
S B Marg, Elphinstone Road, Mumbai 400013, Maharashtra, India |
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Tel. No.: |
91-22-24210093 / 24210383 / 43346700 |
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Fax No.: |
91-22-43346712 / 43346722 |
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E-Mail : |
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Website : |
DIRECTORS
AS ON 27.09.2012
|
Name : |
Mr. Balasubramanian Athmanathan |
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Designation : |
Director |
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Address : |
501, 14 Union Park, Trilok Kapoor Marg, S T Road, Chembur,
Mumbai-400071, Maharashtra, India |
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Date of Birth/Age : |
05.06.1966 |
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Date of Appointment : |
05.11.2009 |
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DIN No.: |
02928193 |
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Name : |
Mr. Saurabh Manoj Nanavati |
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Designation : |
Director |
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Address : |
B3/4, 535, Meghdoot Linking Road, Khar, Mumbai-400052, Maharashtra,
India |
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Date of Birth/Age : |
03.12.1973 |
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Date of Appointment : |
23.09.2010 |
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DIN No.: |
02473929 |
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Name : |
Mr. Rajiv Anand |
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Designation : |
Director |
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Address : |
D-1204/5/6, Floor 12, Ashko Tower, 63-64, Dr S S Rao Marg, Parel,
Mumbai-400012, Maharashtra, India |
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Date of Birth/Age : |
03.01.1966 |
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Date of Appointment : |
23.09.2010 |
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DIN No.: |
02541753 |
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Name : |
Ms. Ashu Suyash |
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Designation : |
Director |
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Address : |
Flat No.214, Tower B Kalpataru Horizon Society, S K Ahire Marg, Worli,
Mumbai-400025, Maharashtra, India |
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Date of Birth/Age : |
02.02.1967 |
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Date of Appointment : |
03.02.2011 |
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DIN No.: |
00494515 |
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Name : |
Mr. Milind Gajanan Barve |
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Designation : |
Director |
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Address : |
Godrej Bay View Apartments, 7th Floor, 1 A G Khan Road, Worli
Sea Face, Worli, Mumbai-400025, Maharashtra, India |
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Date of Birth/Age : |
14.11.1957 |
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Date of Appointment : |
03.06.2003 |
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DIN No.: |
00087839 |
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Name : |
Mr. Sundeep Sikka |
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Designation : |
Director |
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Address : |
Flat No. A-503-504, Dostl Eittle Apartmetn. Rolling Compound, Near
Sion Telephone Exchange, Sion (East), Mumbai-400022, Maharashtra, India |
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Date of Birth/Age : |
16.06.1972 |
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Date of Appointment : |
24.04.2009 |
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DIN No.: |
02553654 |
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Name : |
Mr. Naganath Sundaresan |
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Designation : |
Director |
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Address : |
1803-B, Wing B, Chaitanya Towers, Prabhadevi, Mumbai-400025,
Maharashtra, India |
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Date of Birth/Age : |
01.08.1954 |
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Date of Appointment : |
16.06.2006 |
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DIN No.: |
01005246 |
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Name : |
Mr. Sandesh Madhukar Kirkire |
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Designation : |
Director |
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Address : |
601, Laxmikant Apartment, Wing A, S Kher Road, Mumbai-400016,
Maharashtra, India |
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Date of Birth/Age : |
02.11.1963 |
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Date of Appointment : |
23.08.2007 |
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DIN No.: |
01854543 |
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Name : |
Mr. Nimesh Vipinbabu Shah |
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Designation : |
Director |
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Address : |
Aman 136, N s Manlkar Marg, Sion, Mumbai-400022, Maharashtra, India |
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Date of Birth/Age : |
17.09.1970 |
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Date of Appointment : |
10.03.2008 |
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DIN No.: |
01709631 |
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Name : |
Mr. Harshendu Damodar Bindal |
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Designation : |
Director |
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Address : |
Unit No.52 and 62, 3rd and 4th Floor, Pali Hill,
Bandra (West), Mumbai-400050, Maharashtra, India |
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Date of Birth/Age : |
12.01.1971 |
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Date of Appointment : |
28.09.2011 |
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DIN No.: |
05101238 |
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Name : |
Mr. Suresh Chhitar Mal Soni |
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Designation : |
Director |
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Address : |
1604, Phoneix Towers A, Senapati Bapat Marg, Lower Parel (West),
Mumbai-400013, Maharashtra, India |
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Date of Birth/Age : |
29.11.1970 |
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Date of Appointment : |
28.09.2011 |
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DIN No.: |
02265993 |
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Name : |
Mr. Sanjay Sachdev |
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Designation : |
Director |
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Address : |
Flat No.21, 4th Floor, India House No.-2, Kamp Corner, Mumbai-400036,
Maharashtra, India |
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Date of Birth/Age : |
28.06.1962 |
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Date of Appointment : |
13.01.2012 |
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DIN No.: |
0413170 |
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Name : |
Mr. Nandkumar Surti |
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Designation : |
Director |
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Address : |
2402, Light Bridge CHS Limited, Hiranandani Meadows, Thane(West),
Mumbai-400610, Maharashtra, India |
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Date of Birth/Age : |
04.05.1969 |
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Date of Appointment : |
11.04.2012 |
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DIN No.: |
05158846 |
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Name : |
Mr. Vikas M Sachdeva |
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Designation : |
Director |
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Address : |
502, 5th Floor, Triveni Building, Suchidham Film City Road,
Goregaon (East), Mumbai-400063, Maharashtra, India |
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Date of Birth/Age : |
01.01.1969 |
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Date of Appointment : |
16.07.2012 |
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DIN No.: |
05276339 |
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Name : |
Mr. Jaideep Bhattacharya |
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Designation : |
Director |
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Address : |
83-B, Twin Towers, Prabhadevi, Mumbai-400025, Maharashtra, India |
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Date of Birth/Age : |
16.03.1966 |
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Date of Appointment : |
27.09.2012 |
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DIN No.: |
01213201 |
BUSINESS DETAILS
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Line of Business : |
Non Profit Making Association for Mutual Funds |
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Publications: |
·
Making Mutual Funds Work for You-Investor’s Concise
Guide ·
AMFI Guidelines and Norms for Intermediaries
(AGNI) ·
AMFI Code of Ethics (ACE) |
GENERAL INFORMATION
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No. of Employees : |
Information declined by the management. |
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Bankers : |
Not Available |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
V Sankar Aiyar and Company. Chartered Accountant |
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Address : |
2-C, Court Chambers, 35, New Marine Lines, Mumbai-400020, Maharashtra,
India |
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PAN No.: |
AAAFV0781D |
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] Entrance Fees |
13.300 |
11.800 |
9.300 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
255.559 |
172.394 |
143.477 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
12.069 |
|
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NETWORTH |
268.859 |
184.194 |
164.846 |
|
|
LOAN FUNDS |
|
|
|
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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TOTAL |
268.859 |
184.194 |
164.846 |
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APPLICATION OF FUNDS |
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|
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|
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FIXED ASSETS [Net Block] |
6.429 |
6.969 |
1.454 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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INVESTMENT |
9.554 |
5.267 |
89.128 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000
|
0.504
|
|
|
Sundry Debtors |
0.000
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
268.593
|
235.271
|
68.231
|
|
|
Other Current Assets |
10.427
|
1.188
|
2.626
|
|
|
Loans & Advances |
10.405
|
6.611
|
14.844
|
|
Total
Current Assets |
289.425
|
243.070 |
86.205 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.000
|
0.000 |
0.000 |
|
|
Other Current Liabilities |
35.918
|
70.529
|
11.035
|
|
|
Provisions |
0.631
|
0.583
|
0.906
|
|
Total
Current Liabilities |
36.549
|
71.112 |
11.941 |
|
|
Net Current Assets |
252.876
|
171.958
|
74.264
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
268.859 |
184.194 |
164.846 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue of Operation |
102.468 |
60.828 |
0.000 |
|
|
|
Members Subscription Fees |
0.000 |
0.000 |
13.950 |
|
|
|
Registration Fees for Certified Agents |
0.000 |
0.000 |
14.991 |
|
|
|
Certification Test Fees |
0.000 |
0.000 |
19.334 |
|
|
|
Sale of Publications |
0.000 |
0.000 |
2.297 |
|
|
|
Other Income |
32.930 |
13.493 |
11.655 |
|
|
|
TOTAL (A) |
135.398 |
74.321 |
62.227 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employees Benefit Expenses |
16.195 |
16.419 |
|
|
|
|
Other Expenses |
35.230 |
40.373 |
|
|
|
|
Depreciation and Amortisation Expenses |
0.809 |
0.442 |
|
|
|
|
TOTAL (B) |
52.234 |
57.234 |
49.804 |
|
|
|
|
|
|
|
|
|
EXCESS OF INCOME
OVER EXPENDITURE AVAILABLE FOR APPROPRIATION |
83.164 |
17.087 |
12.423 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
1.000 |
0.500 |
0.500 |
|
|
|
Interest on Investments from Ad-Campaign advanced transferred to
advance |
0.000 |
0.239 |
0.000 |
|
|
BALANCE TRANSFER
TO ACCUMULATED RESERVE |
82.164 |
16.348 |
11.923 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
7.92
|
3.42 |
7.22 |
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 |
No |
|
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 |
No |
|
24] |
Banking facility details |
No |
|
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 |
No |
|
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 |
No |
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Sundry Creditors
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
TOTAL |
0.000 |
0.000 |
0.000 |
NOTE
Registered office of the company has been shifted from 706-708, Balarama Bandra Kural Complex, Bandra (East), Mumbai 400051, Maharashtra, India to the present address w.e.f. 18.10.2010.
FIXED ASSETS
·
Computer
·
Office Equipments
·
Motor Car
·
Furniture
WEBSITE DETAILS
NEWS
AMFI
PLUGS LOOPHOLE IN DEBT SCHEMES
Asks AMCs to club investments below Rs 0.200 Million
The Association of Mutual Funds in India (Amfi) has plugged a loophole that
allowed influential investors to make a quick buck in debt schemes, without
investing in these.
Investments less than Rs 0.200 Million are given the net asset value (NAV) of
the day on which the application is submitted. Therefore, investors often divide
lump sum investments into smaller amounts of less than Rs 0.200 Million per
application form. This helps them get the NAV of the debt scheme on the day of
submitting the application, rather than the NAV for the day on which their
money is transferred to the fund house, as is the case for investments of more
than Rs 0.200 Million.
Now, Amfi has asked fund houses to follow a uniform process for aggregating
such split transactions, according to a recent circular, of which Business
Standard has a copy.
The industry body has told mutual funds for deciding the NAV for amounts lower
than Rs 0.200 Million, they should club investments through multiple
applications in debt funds by an individual or an entity. The aggregation would
be carried out on the basis of the investor’s permanent account number (PAN),
according to the latest Amfi circular. This means investments into a debt fund
wouldn’t be based on the number of application forms, but the PAN.
“After deliberations, the Amfi operations and compliance committee…felt the
need for a uniform practice for aggregating split transactions across AMCs
(asset management companies). It has recommended a uniform process…to be
followed by AMCs, with effect from March 4,” Amfi said.
The latest circular would apply to all transactions received on the same day.
It would also apply to transactions at the option level — investments across
dividend, growth and direct schemes of a fund would be lumped together.
However, certain transactions such as switches and systematic investment plans
would be excluded.
The practice of dividing lump sum investments into smaller amounts is more
prevalent among rich investors, rather than institutions, which invest crores
in debt products.
Currently, suppose an investor plans to invest Rs 0.300 Million in a debt fund,
he gives three applications of Rs 0.100 Million each on a Friday. Since the
three applications are each below the Rs 2-lakh limit, they all get Friday’s
NAV. By splitting the amount, the person gets the NAV for Saturday and Sunday,
even before his money has reached the fund. Some investors redeem their
investments on Monday, thus securing the NAV for Saturday and Sunday without
the application money even leaving their bank accounts.
“This should not have been happening in the first place…it is unfair…for that
particular day, he is eating into the returns of other unitholders,” said
Dhirendra Kumar, chief executive officer of fund tracker, Value Research.
Through circulars in 2008 and 2010, the Securities and Exchange Board of India
had directed AMCs the NAV of the day on which the funds came through, rather
than when the application was made, be applied. This was applicable on
non-liquid fund debt investments of at least Rs 10.000 Millions. Through a
circular dated September 13, 2012, this limit was reduced to Rs 0.200 Million.
Akshay Gupta, managing director and chief executive of Peerless Funds
Management Company, said cases of taking advantage of the loophole were few and
isolated. “This would be happening once in a while. It is not an industry-wide
phenomenon,” he said.
MUTUAL FUND INDUSTRY'S AUM DIPS 1.55% TO RS 8.14 TRILLION IN FEB
Assets under the income funds also declined due to tight
liquidity conditions
Assets
under management (AUM) of the mutual fund industry fell 1.5% to Rs 8.14 Lakh
crore in February from the record high in January due to mark-to- market fall
in equity oriented mutual funds, a report by Crisil Research said.
"The fall in AUM was attributed to the mark to market fall in assets of
equity oriented mutual funds following the 6% decline in the CNX Nifty during
the month," the report said.
Assets
under the income funds also declined due to tight liquidity conditions
prevailing towards the end of this financial year, it added.
Also,
the inflows saw sharp drop in net inflows of Rs 36000.000 Millions in February
as compared to Rs 607000.000 Millions in the previous month.
Meanwhile,
the AUM of equity funds declined to Rs 1.76 lakh crore, which was down over 7%
or Rs 138000.000 Millions, marking the largest decline in the past 15 months.
"Month-end
AUM of equity funds declined to Rs 1.76 lakh crore (down over 7% or Rs
138000.000 Millions) - the largest decline in past 15 months - led by mark to
market losses in the underlying assets and marginal outflows," the report
said.
However,
net outflows from the category slowed to Rs 1600.000 Millions in February,
which was the lowest in the past nine months.
On
income funds front, the AUM in this category fell by 1.4% to Rs 3.93 lakh crore
in February, primarily due to outflows of Rs 53000.000 Millions from the
category.
"Tight
liquidity conditions towards the financial year end saw redemptions from short
maturity debt funds. While FMPs (fixed maturity plans) have seen redemptions of
Rs 16000.000 Millions, these have been balanced by inflows of Rs 21000.000
Millions into interval funds," the report said.
The
rating agency also pointed out that major share of inflows of Rs 86000.000
Millions came into the liquid or money market funds.
"Inflows
in the category are part of the cyclical inflow that occur in the first two
months of the quarter (January-February) before being withdrawn for quarter end
requirements (to pay corporate advance tax) in the last month of the quarter
(March)," it said.
Referring
to gilt funds, the report said that these funds continued to see inflows for
the sixth consecutive month in February despite being lower than the previous
month.
"Inflows
were lower at over Rs 4000.000 Millions in February compared with Rs 11000.000
Millions inflow in January," it said adding that the category has become
attractive in the recent months on expectation of easing interest rates.
Interestingly,
gold ETFs saw outflows for the first time since June 2012 with the AUM falling
by 4% to Rs 116000.000 Millions in February due to mark to market losses and
outflows.
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] 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. 54.16 |
|
|
1 |
Rs. 82.45 |
|
Euro |
1 |
Rs. 70.70 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
62 |
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.