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Report Date : |
01.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
SPUUL DIGITAL ENTERTAINMENT PRIVATE LIMITED |
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Registered
Office : |
Office Premises No 803, 8th Floor, Business Suites, 9, S V Road,
Santacruz (West), Mumbai – 400054, Maharashtra |
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Country : |
India |
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Date of
Incorporation : |
23.08.2012 |
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Com. Reg. No.: |
11-234808 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.961 Million |
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CIN No.: [Company Identification
No.] |
U74120MH2012PTC234808 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is an ad supported subscription service that legally provides online
Indian content to anyone in the world. They offer service free and paid
content. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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- |
NB |
New Business |
- |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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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.
INDIAN ECONOMIC OVERVIEW
We are living in a world
where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once
powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and the
US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in
agriculture, industry and services. Dampening sentiment led to a cut-back in
investment as well as private consumption expenditure. Inflation remained
at high levels fuelled by the pressure from the food and fuel sectors. The
large fiscal and current account deficit s continued to cause grave concern. It
is imperative that India regains its growth trajectory of 8-9 % sooner than
later. This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
INFORMATION DECLINED BY
Management Non Co-operative
LOCATIONS
|
Registered Office : |
Office Premises No 803, 8th Floor, Business Suites, 9, S V RD,
Santacruz (West), Mumbai – 400054, Maharashtra, India |
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Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
DIRECTORS
|
Name : |
Mr. Smohan Ksubramanian |
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Designation : |
Director |
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Address : |
80, JLN Daud, #09-03, Singapore - 419591 |
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Date of Birth/Age : |
07.01.1965 |
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DIN No.: |
05338167 |
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Name : |
Mr. Mukkatira Ganapathy Subaiah |
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Designation : |
Director |
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Address : |
86, Jalan Daud, #13-86 Singapore
- 419594 |
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Date of Birth/Age : |
16.05.1952 |
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DIN No.: |
05336082 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 18.03.2013
|
Names of Allottee |
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No. of Shares
Allotted |
|
Spuul Pte Limited, Singapore |
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9999 |
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S. Mohan Nominee of Spuul Pte Limited, Singapore |
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1 |
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Total |
|
10000 |
As on 28.03.2013
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Names of Allottee |
|
No. of Shares
Allotted |
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Spuul Pte Limited, Singapore |
|
86114 |
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Total |
|
86114 |
BUSINESS DETAILS
|
Line of Business : |
Subject is an ad supported subscription service that legally provides online
Indian content to anyone in the world. They offer service free and paid
content. |
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 : |
Not Available |
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Parent Company : (Gathered from Indirect Sources) |
Spuul Pte Limited, Singapore |
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Wholly Owned
Subsidiary : |
Spuul (India) Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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96114 |
Equity Shares |
Rs.10/- each |
Rs.0.961
Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
NEW BUSINESS
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
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2] |
Locality of the firm |
Yes |
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3] |
Constitutions of the firm |
Yes |
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4] |
Premises details |
No |
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5] |
Type of Business |
Yes |
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6] |
Line of Business |
Yes |
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7] |
Promoter's background |
Yes |
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8] |
No. of employees |
No |
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9] |
Name of person contacted |
No |
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10] |
Designation of contact person |
No |
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11] |
Turnover of firm for last three years |
No |
|
12] |
Profitability for last three years |
No |
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13] |
Reasons for variation <> 20% |
---------------------- |
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14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
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17] |
Major suppliers |
No |
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18] |
Major customers |
No |
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19] |
Payments terms |
No |
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20] |
Export / Import details (if applicable) |
No |
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21] |
Market information |
---------------------- |
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22] |
Litigations that the firm / promoter involved in |
---------------------- |
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23] |
Banking Details |
No |
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24] |
Banking facility details |
No |
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25] |
Conduct of the banking account |
---------------------- |
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26] |
Buyer visit details |
Yes |
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27] |
Financials, if provided |
No |
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28] |
Incorporation details, if applicable |
No |
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29] |
Last accounts filed at ROC |
No |
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30] |
Major Shareholders, if available |
Yes |
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31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
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32] |
PAN of Proprietor/Partner/Director, if available |
No |
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33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
NOTE:
The registered office of the company has been shifted from 301, Triveni Krupa, Opp Ambaji Temple, Carter Road No. 3, Borivli (East),
Mumbai – 400066, Maharashtra, India to present address w.e.f. 01.01.2013
ABOUT PARENT COMPANY
Spuul Pte Limited, Started in 2010 in
Singapore, Spuul was founded by three seasoned industry and technology
entrepreneur including Mr. Sudesh Iyer, (the founder of Sony Entertainment
Television in India), and Mr. S Mohan (the founder of Accellion, Buuuk and a
number of other technology and venture companies).
|
Name of the Company
: |
SPUUL DIGITAL ENTERTAINMENT PRIVATE LIMITED |
|
Address : |
Office Premises No 803, 8th Floor, Business Suites, 9, S V Road, Santacruz (West), Mumbai – 400054, Maharashtra, India |
|
|
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Name Board : |
Sighted |
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Visibility of Name
Board : |
Moderate |
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Location : |
Difficult |
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Landmark (if any) : |
Santacruz Station |
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Locality : |
Office |
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Approx. Market
Value of Premises: |
Area 2.500 sq. ft |
|
Area : |
Down Market |
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Visibility of Items
: |
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No. of Employees
seen at business Premises |
15 |
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Visiting Card provided as proof of Visit |
No |
WEBSITE DETAILS
PRESS RELEASE
SPUUL EXPANDS MOVIE LIBRARY
AS ONLINE VIDEO CONSUMPTION ACCELERATES
SINGAPORE, May 29, 2013 /PRNewswire/ -- Spuul, the most popular online streaming service for Indian movies and TV shows, and India Cast Media Distribution Private Limited, a joint venture between TV18 and Viacom18, today announced an agreement to make over 60 current and upcoming Hindi and regional language movies available for worldwide streaming on Spuul from the library of Viacom18 Motion Pictures, COLORS and Eenadu Television.
Starting this week, movie buffs can enjoy latest and evergreen blockbusters such as Inkaar, Oh My God and Jab We Met along with several regional hits such as Samanyudu, on their computers and mobile devices, with Spuul. Upcoming new releases in 2013 will also be available for worldwide streaming on Spuul as they are released in the market.
"Spuul is proud to offer Viacom18's successful and award-winning films to our fast growing user base," said S.Mohan, Co-founder and CEO, Spuul. Commenting further, he said, "We are constantly working to expand our range of great Indian movies, in different languages, so that users always find something appealing to watch."
Online video is seeing dramatic growth, with 3.7 million videos consumed every month in India*. A release on Spuul offers producers immediate global reach and the opportunity to serve today's digitally connected consumers, creating a new revenue source for not just small budget movies but also new blockbusters.
Speaking on the tie up with Spuul, Anuj Gandhi, Group CEO, IndiaCast said, "The association between IndiaCast and Spuul acts as a value addition for both parties. Watching movies online lets the viewers exercise this option at their own convenience. Spuul has a huge base of film and TV enthusiasts who now with this association will be able to choose from IndiaCast's plethora of commercial and regional movies, enriching the viewer experience."
“SHREE” PREMIERES ON
SPUUL ON APRIL 26TH
SINGAPORE--(BUSINESS WIRE)--The era of anytime, anywhere entertainment is here. SPUUL is bringing the ultimate movie experience right to its users with the premiere of Hussain Kuwajerwala’s new movie, Shree. The movie will debut on Spuul on the same day as its theatrical debut, Friday, April. 26.
Spuul users worldwide, except India, will have the chance to see Shree on their laptops and mobile devices the same day it hits theaters for as low as $2.99 for 72 hours or $4.99 as a part of a monthly premium subscription plan with unlimited views. Movie watchers in India will be able to enjoy Shree on Spuul after June 5.
S. Mohan, co-founder of Singapore-based Spuul, said “Today’s multi-screen generation want their entertainment wherever they are and whenever they are in the mood. In this landscape, In today’s rapidly evolving digital landscape, Spuul is well placed to meet the growing demands of movie watchers online and we are delighted to make top-quality movies easily accessible via Spuul on the web and on mobile.”
Shree stars television star Hussain Kuwajerwala (Kumkum, Indian Idol), as Shree, a common man who Trades 12 hours of his life in a science experiment to earn quick money and gets entangled in a series of murders.
Shree is produced by Ciemme Entertainment and distributed
worldwide to digital platforms by GoQuest Media Ventures.
Vikram M. Shah the producer of Shree says “The whole concept of having the same
day and date releases online for Shree is to make sure audiences worldwide can
get to consume the content in the format that fits them best at the time,
especially for international audiences who have limited access movies other
than big banner films. Moviemakers need to understand how to better reach out
to an audience through versatile platforms like Spuul.”
Bollywood movie lovers will have instant access to the movie on a wide variety of devices by signing up for a free account on Spuul.com or downloading Spuul’s free app for iOS and Android devices. Spuul makes popular Indian movies available online and on mobile devices through its free and paid plans. Besides Shree, users can watch other recent Bollywood releases such as Rush, Jab Tak Hai Jaan, Mere Dad Ki Maruti and many others.
MICROMAX LINKS WITH
SPUUL FOR CANVAS 4 VIDEO SERVICE
Rebecca Hawkes |
15-07-2013
Bollywood video-on-demand streaming service Spuul is being preloaded as an app on new smartphones from handset manufacturer Micromax, with a month's free premium subscription for anyone purchasing the 5" Canvas 4 model.
"We are excited to make the Spuul app available on the new Canvas 4. This smartphone has great design and functionality; the large screen makes it especially suited to enjoying a movie at home or on-the-go," said S Mohan, co-founder and CEO Spuul.
"Micromax's Canvas series enjoys a great fan following in the Indian subcontinent and we look forward to entertaining this young, digitally savvy audience with our unrivalled collection of Indian movies and TV shows."
This is the first device partnership for Spuul, and will provide Canvas 4 smartphone users with on-demand access to over 1,000 Indian films and TV shows from the Spuul library. Recent films such as Special 26, Inkaar and Oh My God, will be included, alongside classics such as Rang De Basanti and Jab We Me, and TV shows such as Mahabharat and Fauji.
Manoj Gupta, Head VAS Micromax, said: "At Micromax we constantly strive to provide our consumers with an eco-system of best services through our technological innovations. With Spuul preloaded on the new Canvas 4, customers will now be able to enjoy unlimited on-demand entertainment on their Micromax handsets. We look forward to similar partnerships in future offering the best user experiences to our consumers."
The Canvas 4, priced at INR17,999, is part of a smartphone range that has sold over one million handsets in India in the past four months, according to the company. A Spuul premium subscription, meanwhile, is currently priced at around INR270 and delivers video content to computers, as well as Android and IOS mobile devices.
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.61.12 |
|
|
1 |
Rs.92.97 |
|
Euro |
1 |
Rs.80.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
NTH |
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.