MIRA INFORM REPORT
|
Report Date : |
02.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
VEETEEJAY MOTORS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1/575 G, NH 47, Bye Pass Road, Kannadikkadu, Maradu P.O.,
Kochi-682304, Kerala |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
19.03.2010 |
|
|
|
|
Com. Reg. No.: |
09-025722 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 9.999 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U50100KL2010PTC025722 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Dealers and Service Provider of Hyundai Cars |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 34000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Even though the subject was incorporated on March 19, 2010. It has
commenced its activities during the FY 2011-12. In its first year of business operations the company has achieved sizeable
turnover but incurred some losses during the current year. External
borrowings appear to be huge and increasing over previous year. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealings with some caution.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
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.
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 : |
1/575 G, NH 47, Bye Pass Road, Kannadikkadu, Maradu P.O.,
Kochi-682304, Kerala, India |
|
Tel. No.: |
91-484-4230423 / 4230424 |
|
Fax No.: |
91-484-2306667 |
|
E-Mail : |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Thomas J Vayalat |
|
Designation : |
Managing Director |
|
Address : |
6/419 B, Vayalat House, Vayalat Avenue, VTJ Enclave, Maradu,
Ernakulam-682304, Kerala, India |
|
Date of Birth/Age : |
16.03.1967 |
|
Date of Appointment : |
19.03.2010 |
|
DIN No.: |
00233661 |
Other Directorship:
|
S.
No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U45309KL1999PLC013528
|
SEAFOOD PARK
INDIA LIMITED |
Director |
17/05/2000 |
17/05/2000 |
- |
Active |
NO |
|
2 |
U05005KL1994PLC008280
|
MALABAR ARABIAN
FISHERIES LIMITED |
Managing
director |
31/12/2006 |
25/11/2000 |
- |
Active |
NO |
|
3 |
L67120KL1993PLC007349
|
VERTEX
SECURITIES LIMITED |
Director |
12/01/2006 |
12/01/2006 |
31/07/2008 |
Active |
NO |
|
4 |
U51225KL2006PTC019571
|
VEETEEJAY EXIM
PRIVATE LIMITED |
Managing
director |
30/06/2006 |
30/06/2006 |
- |
Active |
NO |
|
5 |
U45202KL2007PTC020900
|
VEETEEJAY HOMES
PRIVATE LIMITED |
Managing
director |
07/06/2007 |
07/06/2007 |
- |
Active |
NO |
|
6 |
U01119KL2001PTC014835
|
HOLISTIC AGRO
SOLUTIONS INDIA PRIVATE LIMITED |
Director |
01/10/2007 |
01/10/2007 |
- |
Active |
NO |
|
7 |
U50100KL2010PTC025722
|
VEETEEJAY MOTORS
PRIVATE LIMITED |
Managing
director |
19/03/2010 |
19/03/2010 |
- |
Active |
NO |
|
8 |
U50100KL2012PTC031622
|
VEETEEJAY
MOBIKES PRIVATE LIMITED |
Managing
director |
10/07/2012 |
10/07/2012 |
- |
Active |
NO |
|
Name : |
Elizabeth Thomas |
|
Designation : |
Director |
|
Address : |
6/419 B, Vayalat House, Vayalat Avenue, VTJ Enclave, Maradu,
Ernakulam-682304, Kerala, India |
|
Date of Birth/Age : |
16.10.1973 |
|
Date of Appointment : |
30.06.2011 |
|
DIN No.: |
01206765 |
Other Directorship:
|
S.
No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U55102KL1995PTC009220
|
TWIMAT RESORTS
AND AQUA FARMS PRIVATE LIMITED |
Director |
11/07/1995 |
11/07/1995 |
Active |
NO |
|
2 |
U01119KL2001PTC014835
|
HOLISTIC AGRO SOLUTIONS
INDIA PRIVATE LIMITED |
Director |
01/10/2007 |
01/10/2007 |
Active |
NO |
|
3 |
U05004KL2008PTC022164
|
VAVA MARINES AND
RESORTS PRIVATE LIMITED |
Director |
28/03/2008 |
28/03/2008 |
Active |
NO |
|
4 |
U50100KL2010PTC025722
|
VEETEEJAY MOTORS
PRIVATE LIMITED |
Director |
30/06/2011 |
30/06/2011 |
Active |
NO |
|
5 |
U45202KL2007PTC020900
|
VEETEEJAY HOMES
PRIVATE LIMITED |
Additional
director |
01/11/2011 |
01/11/2011 |
Active |
NO |
|
6 |
U50100KL2012PTC031622
|
VEETEEJAY
MOBIKES PRIVATE LIMITED |
Director |
10/07/2012 |
10/07/2012 |
Active |
NO |
|
Name : |
Mr. Mathew Paattam |
|
Designation : |
Director |
|
Address : |
Pattathil House, Pulincunnu P O, Alappuzha-688504, Kerala, India |
|
Date of Birth/Age : |
05.04.1988 |
|
Date of Appointment : |
19.03.2010 |
|
DIN No.: |
02970356 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
Thomas J Vayalat |
730166 |
|
Raju Joseph Vayalat |
3333 |
|
Mathew Paattam |
65000 |
|
Elizabeth Thomas |
60000 |
|
Veeteejay Exim Private Limited, India |
141500 |
|
TOTAL
|
999999 |
AS ON 09.01.2013
|
Names of Allottees |
No. of Shares |
|
Thomas J Vayalat |
2000000 |
|
TOTAL |
2000000 |
AS ON 29.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Bodies corporate |
14.15 |
|
Directors or relatives of Directors |
85.85 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Dealers and Service Provider of Hyundai Cars |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Tharian and Iype Chartered Accountant |
|
Address : |
Kochi-682018, Kerala, India |
|
Tel. No.: |
91-484-2390125 / 4051938 |
|
Mobile No.: |
91-9447095008 |
|
E-Mail : |
|
|
PAN No.: |
AAAPE7762R |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
999999 |
Equity Shares |
Rs.10/- each |
Rs. 9.999
Millions |
|
|
|
|
|
AS ON 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs. 30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2999999 |
Equity Shares |
Rs.10/- each |
Rs. 29.999
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
9.999 |
0.100 |
|
(b) Reserves & Surplus |
|
(1.442) |
0.000 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
8.557 |
0.100 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
63.231 |
17.378 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
63.231 |
17.378 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
50.210 |
0.617 |
|
(b) Trade
payables |
|
1.655 |
0.000 |
|
(c) Other
current liabilities |
|
21.789 |
6.418 |
|
(d) Short-term
provisions |
|
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
|
73.654 |
7.035 |
|
|
|
|
|
|
TOTAL |
|
145.442 |
24.513 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
78.952 |
0.036 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
15.292 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
2.594 |
2.054 |
|
(e) Other
Non-current assets |
|
0.013 |
0.017 |
|
Total Non-Current
Assets |
|
81.559 |
17.399 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
52.883 |
0.000 |
|
(c) Trade
receivables |
|
1.260 |
0.000 |
|
(d) Cash
and cash equivalents |
|
1.198 |
0.659 |
|
(e)
Short-term loans and advances |
|
8.542 |
5.992 |
|
(f) Other
current assets |
|
0.000 |
0.463 |
|
Total
Current Assets |
|
63.883 |
7.114 |
|
|
|
|
|
|
TOTAL |
|
145.442 |
24.513 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
|
|
249.825 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
251.267 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Depreciation |
|
|
|
|
|
|
TOTAL |
|
|
251.267 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
|
|
(1.442) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
|
|
(1.442) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
|
(1.442) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
(1.44) |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
|
(0.58) |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
(0.99) |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
(0.17) |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
13.26 |
179.95 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
0.87 |
1.01 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for one
years |
Yes |
|
12] |
Profitability for one
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 |
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 |
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 |
No |
|
Unsecured Loan |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
Long Term
Borrowings |
|
|
|
Loans and
Advances from Related Parties |
|
|
|
Loan from Director – Thomas J Vayalat |
60.096 |
17.378 |
|
Short Term
Borrowings |
|
|
|
From Banks |
|
|
|
Inventory Loan |
|
|
|
Reliance Capital Limited |
10.161 |
0.000 |
|
ICICI Bank – 010251005334 |
40.034 |
0.000 |
|
HDFC Bank - 00200450000496 |
0.015 |
0.000 |
|
No charge has been created on these loans. However primary security of
lien on stock and book debt and mortgage of property of property of Mr. Thomas
J Vayalt, Managing Director been provided for loan from HDFC Bank and a lie
marked on Invoice copies provided for loan from Reliance Commercial Finance |
|
|
|
From Related
Parties |
|
|
|
Director – Mathew M Pattom |
0.000 |
0.617 |
|
|
|
|
|
TOTAL |
110.306 |
17.995 |
VIEW INDEX OF
CHARGES
|
S.
No. |
Charge
ID |
Date
of Charge Creation /Modification |
Charge
amount secured |
Charge
Holder |
Address
|
Service
Request Number (SRN) |
|
1 |
10420585
|
23/02/2013
|
20,000,000.00
|
STATE
BANK OF INDIA |
SME BRANCH, R. S. BUILDING,
OPPOSITE MAHARAJAS COLLEGEG ROUND, ERNAKULAM, KERALA - 682011, INDIA |
B73428807
|
|
2 |
10409696
|
11/02/2013
|
30,000,000.00
|
SOUTH
INDIAN BANK LIMITED |
THARAYIL COMPLEX, VYTILLA,
KOCHI, KERALA-682019, INDIA |
B69902708
|
NOTE
Registered office has been shifted from C P
XII / 292, Kattipparambu, Kannamaly PO, Kochi-682008, Kerala, India to the
present address w.e.f. 17.01.2011
FIXED ASSETS
- Computer
- Furniture and
Fixtures
- Electrical
Fittings
- Factory
Building
- Office
Equipments
- Plant and
Machinery
- Motor
Vehicles
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. 60.74 |
|
|
1 |
Rs. 92.05 |
|
Euro |
1 |
Rs. 80.60 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
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.