MIRA
INFORM REPORT
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Report Date : |
05.08.2013 |
IDENTIFICATION DETAILS
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Name : |
VENKATA TIRUMALA
CHIT FUND PRIVATE LIMITED |
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Registered
Office : |
Door No.9-7-45,
Sambashiva Complex, Arundalpet, Narasaraopet, Guntur District – 522 601,
Andhra Pradesh |
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Country : |
India |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
03.11.2009 |
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Com. Reg. No.: |
01-065664 |
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Capital Investment
/ Paid-up Capital : |
Rs.14.500
millions |
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CIN No.: [Company Identification
No.] |
U65992AP2009PTC065664 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in Chit Fund Business. |
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No. of Employees
: |
25 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (31) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Maximum Credit Limit : |
USD 111000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. The financial position of the company is below average. However, trade relations are reported as fair. Business is active.
Payment terms are slow but correct. The company can be considered for business dealings with some caution.
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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.
ECGC Country Risk Classification List – March 31st, 2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very
High |
C1 |
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Restricted |
C2 |
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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.
LOCATIONS
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Registered Office : |
Door No.9-7-45,
Sambashiva Complex, Arundalpet, Narasaraopet, Guntur District – 522 601,
Andhra Pradesh, India |
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Tel. No.: |
91-8647-222252/ 222285 |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
DIRECTORS
AS ON 24.09.2012
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Name : |
Dr. Nalabothu Venkata Rao |
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Fathers Name : |
Nalabothu Chinna Guravaiah |
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Designation : |
Managing Director |
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Address : |
No.12, Rajarajeswari Nagar, Pedacheruvu, Narasaraopet, Guntur District
– 522 601, Andhra Pradesh, India |
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Date of Birth/Age : |
01.06.1957 |
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Date of Appointment : |
03.11.2009 |
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DIN No.: |
00310724 |
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Other Directorship:
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Name : |
Mr. Bolla Brahmanaidu |
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Fathers Name : |
Bolla Hanumaiah |
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Designation : |
Director |
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Address : |
D.No.12-13-27/A, Prakash Nagar, Narasaraopet, Guntur District – 522
601, Andhra Pradesh, India |
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Date of Birth/Age : |
20.02.1956 |
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Date of Appointment : |
03.11.2009 |
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DIN No.: |
00167886 |
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Other Directorship:
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Name : |
Mr. Danda Brahmanandam |
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Fathers Name : |
D. Kotaiah |
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Designation : |
Director |
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Address : |
1276, Golden Colony, Annanagar (West) Extension, Chennai – 600 050,
Tamilnadu, India |
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Date of Birth/Age : |
12.02.1950 |
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Date of Appointment : |
03.11.2009 |
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DIN No.: |
00169372 |
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Other Directorship:
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Name : |
Mr. Battini Nageswara Rao |
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Fathers Name : |
Battini Koteswara Rao |
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Designation : |
Director |
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Address : |
D.No.11-15-8, Ramireddy Pet, Narasaraopet, Guntur District – 522 601,
Andhra Pradesh, India |
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Date of Birth/Age : |
15.02.1957 |
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Date of Appointment : |
03.11.2009 |
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DIN No.: |
00310639 |
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Other Directorship:
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Name : |
Telaprolu Subhas Chandra Bose |
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Fathers Name : |
Telaprolu Anjaneyulu |
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Designation : |
Director |
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Address : |
Flat No.203, D.No.11-11-2, Vijetha Residency, Ramireddy Pet,
Narasaraopet, Guntur District – 522 601, Andhra Pradesh, India |
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Date of Birth/Age : |
05.12.1965 |
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Date of Appointment : |
03.11.2009 |
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DIN No.: |
02771460 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 24.09.2012
|
Names of
Shareholders |
Address |
No. of Shares |
|
Nalabothu Venkata Rao |
No.12, Rajarajeswari Nagar, Pedacheruvu, Narasaraopet, Guntur District
– 522 601, Andhra Pradesh, India |
10875 |
|
Bolla Brahmanaidu |
D.No.12-13-27/A, Prakash Nagar, Narasaraopet, Guntur District – 522
601, Andhra Pradesh, India |
29000 |
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Danda Brahmanandam |
1276, Golden Colony, Annanagar (West) Extension, Chennai – 600 050,
Tamilnadu, India |
29000 |
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Battini Nageswara Rao |
D.No.11-15-8, Ramireddy Pet, Narasaraopet, Guntur District – 522 601,
Andhra Pradesh, India |
14500 |
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Telaprolu Subhas Chandra Bose |
Flat No.203, D.No.11-11-2, Vijetha Residency, Ramireddy Pet,
Narasaraopet, Guntur District – 522 601, Andhra Pradesh, India |
18560 |
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Ravela Satyanarayana |
D.No.11-11-12, Ramireddy Pet, Narasaraopet, Guntur District – 522 601,
Andhra Pradesh, India |
10875 |
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P. Uma Maheswari |
No.435, W Block, 5th Street, C Sector, Anna Nagar West
Extension, Chennai – 600 101, Tamilnadu, India |
7250 |
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Battini Manikyala Rao |
D.No.11-15-8-B, Ramireddy Pet, Narasaraopet, Guntur District – 522
601, Andhra Pradesh, India |
2900 |
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Battini Lakshmi Narayana |
D.No.11-15-8, Ramireddy Pet, Narasaraopet, Guntur District – 522 601,
Andhra Pradesh, India |
2900 |
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B. Rama Mohan Rao |
D.No.11-15-4/D, Opposite Care Public School, Ramireddy Pet,
Narasaraopet, Guntur District – 522 601, Andhra Pradesh, India |
2900 |
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P. Uma Maheswari |
D.No.11-15-8, Ramireddy Pet, Narasaraopet, Guntur District – 522 601,
Andhra Pradesh, India |
2175 |
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Y. Usha |
D.No.11-15-8, Ramireddy Pet, Narasaraopet, Guntur District – 522 601,
Andhra Pradesh, India |
2175 |
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B. Lakshmi |
D.No.11-15-8, Ramireddy Pet, Narasaraopet, Guntur District – 522 601,
Andhra Pradesh, India |
1450 |
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Telaprolu Sirisha |
Flat No.203, D.No.11-11-2, Vijetha Residency, Ramireddy Pet,
Narasaraopet, Guntur District – 522 601, Andhra Pradesh, India |
4350 |
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Telaprolu Vishnu Priya |
Flat No.203, D.No.11-11-2, Vijetha Residency, Ramireddy Pet,
Narasaraopet, Guntur District – 522 601, Andhra Pradesh, India |
3045 |
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Telaprolu Santhi Priya |
Flat No.203, D.No.11-11-2, Vijetha Residency, Ramireddy Pet,
Narasaraopet, Guntur District – 522 601, Andhra Pradesh, India |
3045 |
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|
145000 |
AS ON 21.12.2012
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Names of
Allottees |
Address |
No. of Shares |
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Nalabothu Venkata Rao |
No.12, Rajarajeswari Nagar, Pedacheruvu, Narasaraopet, Guntur District
– 522 601, Andhra Pradesh, India |
9492 |
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Bolla Brahmanaidu |
D.No.12-13-27/A, Prakash Nagar, Narasaraopet, Guntur District – 522
601, Andhra Pradesh, India |
25310 |
|
Danda Brahmanandam |
1276, Golden Colony, Annanagar (West) Extension, Chennai – 600 050,
Tamilnadu, India |
25310 |
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Battini Nageswara Rao |
D.No.11-15-8, Ramireddy Pet, Narasaraopet, Guntur District – 522 601,
Andhra Pradesh, India |
12656 |
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Telaprolu Subhash Chandra Bose |
Flat No.203, D.No.11-11-2, Vijetha Residency, Ramireddy Pet,
Narasaraopet, Guntur District – 522 601, Andhra Pradesh, India |
16199 |
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Ravela Satyanarayana |
D.No.11-11-12, Ramireddy Pet, Narasaraopet, Guntur District – 522 601,
Andhra Pradesh, India |
9491 |
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Veeravalli Subbaiah Chaowdary |
No.435, W Block, 5th Street, C Sector, Anna Nagar West
Extension, Chennai – 600 101, Tamilnadu, India |
6327 |
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Battini Manikyala Rao |
D.No.11-15-8-B, Ramireddy Pet, Narasaraopet, Guntur District – 522
601, Andhra Pradesh, India |
2531 |
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Battini Lakshmi Narayana |
D.No.11-15-8, Ramireddy Pet, Narasaraopet, Guntur District – 522 601,
Andhra Pradesh, India |
2531 |
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B. Rama Mohan Rao |
D.No.11-15-4/D, Opposite Care Public School, Ramireddy Pet,
Narasaraopet, Guntur District – 522 601, Andhra Pradesh, India |
2531 |
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P. Uma Maheswari |
D.No.11-15-8, Ramireddy Pet, Narasaraopet, Guntur District – 522 601,
Andhra Pradesh, India |
1898 |
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Y. Usha |
D.No.11-15-8, Ramireddy Pet, Narasaraopet, Guntur District – 522 601,
Andhra Pradesh, India |
1898 |
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B. Lakshmi |
D.No.11-15-8, Ramireddy Pet, Narasaraopet, Guntur District – 522 601,
Andhra Pradesh, India |
1265 |
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Telaprolu Sirisha |
Flat No.203, D.No.11-11-2, Vijetha Residency, Ramireddy Pet,
Narasaraopet, Guntur District – 522 601, Andhra Pradesh, India |
3796 |
|
Telaprolu Vishnu Priya |
Flat No.203, D.No.11-11-2, Vijetha Residency, Ramireddy Pet,
Narasaraopet, Guntur District – 522 601, Andhra Pradesh, India |
2657 |
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Telaprolu Santhi Priya |
Flat No.203, D.No.11-11-2, Vijetha Residency, Ramireddy Pet, Narasaraopet,
Guntur District – 522 601, Andhra Pradesh, India |
2658 |
|
|
Total |
126550 |
AS ON 24.09.2012
|
Equity Share Breakup |
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Percentage of Holding |
|
Category |
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|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in Chit Fund Business. |
GENERAL INFORMATION
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No. of Employees : |
25 (Approximately) |
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Bankers : |
·
Andhra Bank, Narasaraopet Branch, Main Branch,
Narasaraopet – 522 601, Andhra Pradesh, India ·
Axis Bank Limited |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Krishna Prabha Associates Chartered Accountants |
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Address : |
10-4-8, Ramireddy Pet, Narasarao Pet – 522 601, Andhra Pradesh, India |
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PAN No: |
AAFFK0496B |
CAPITAL STRUCTURE
AFTER 24.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
280000 |
Equity Shares |
Rs.100/- each |
Rs.28.000 millions |
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|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
271550 |
Equity Shares |
Rs.100/-
each |
Rs.27.155
millions |
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AS ON 24.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
150000 |
Equity Shares |
Rs.100/- each |
Rs.15.000 millions |
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|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
145000 |
Equity Shares |
Rs.100/-
each |
Rs.14.500
millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
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I.
EQUITY AND LIABILITIES |
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(1) Shareholders' Funds |
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|
|
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(a) Share Capital |
|
14.500 |
1.000 |
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(b) Reserves & Surplus |
|
1.731 |
0.608 |
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(c) Money received against share warrants |
|
0.000 |
0.000 |
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(2) Share Application money pending allotment |
|
11.500 |
13.500 |
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Total
Shareholders’ Funds (1) + (2) |
|
27.731 |
15.108 |
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|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.094 |
0.000 |
|
(c) Other long
term liabilities |
|
0.000 |
0.000 |
|
(d) Long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
0.094 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
0.000 |
0.000 |
|
(b)
Trade payables |
|
68.337 |
35.521 |
|
(c)
Other current liabilities |
|
19.979 |
8.702 |
|
(d) Short-term
provisions |
|
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
|
88.316 |
44.223 |
|
|
|
|
|
|
TOTAL |
|
116.141 |
59.331 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
1.671 |
1.374 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
38.538 |
19.227 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
40.209 |
20.601 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
0.020 |
0.020 |
|
(c)
Trade receivables |
|
34.826 |
18.998 |
|
(d) Cash
and cash equivalents |
|
2.211 |
5.283 |
|
(e)
Short-term loans and advances |
|
38.670 |
14.175 |
|
(f)
Other current assets |
|
0.205 |
0.254 |
|
Total
Current Assets |
|
75.932 |
38.730 |
|
|
|
|
|
|
TOTAL |
|
116.141 |
59.331 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
1.000 |
|
|
2] Share Application Money |
|
|
9.000 |
|
|
3] Reserves & Surplus |
|
|
0.116 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
10.116 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
10.116 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
1.227 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
11.069 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
13.986 |
|
|
Cash & Bank Balances |
|
|
2.342 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
0.054 |
|
Total
Current Assets |
|
|
16.382 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors & Other Current Liabilities |
|
|
10.645 |
|
|
Provisions |
|
|
8.114 |
|
Total
Current Liabilities |
|
|
18.759 |
|
|
Net Current Assets |
|
|
(2.377) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.197 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
10.116 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
24.344 |
12.547 |
1.990 |
|
|
|
Other Income |
5.098 |
1.744 |
0.322 |
|
|
|
TOTAL (A) |
29.442 |
14.291 |
2.312 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee Benefits Expenses |
6.234 |
4.042 |
1.968 |
|
|
|
Other Expenses |
20.219 |
9.020 |
|
|
|
|
TOTAL (B) |
26.453 |
13.062 |
1.968 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2.989 |
1.229 |
0.344 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.121 |
0.451 |
0.170 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1.868 |
0.778 |
0.174 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.140 |
0.126 |
0.037 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
1.728 |
0.652 |
0.137 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.606 |
0.160 |
0.021 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
1.122 |
0.492 |
0.116 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.608 |
0.116 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
1.730 |
0.608 |
0.116 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
7.74 |
49.25 |
11.60 |
|
Note:
The company has shown a total income of Rs.456.250 millions generated
from the Chit Fund Business. However, the company has not shown the same figure
in the Audited Profit and Loss A/c Statement of the company.
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
3.81
|
3.44 |
5.02 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.10
|
5.20 |
6.88 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.49
|
1.10 |
0.78 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.04 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.86
|
0.88 |
0.87 |
LOCAL AGENCY FURTHER INFORMATION
|
Check
List by Info Agents |
Available
in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter’s background |
Yes |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
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 |
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 |
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10205183 |
20/01/2010 |
20,000,000.00 |
Andhra Bank
Narasaraopet Branch |
Main Branch, Narasaraopet,
Andhra Pradesh - 522601, India |
A80466717 |
OPERATIONS OF THE COMPANY:
During this Third
year of operation, they have achieved a total chit turnover of Rs.456.250 millions, which is quite a good turnover
for the year. The Company has started 19 new Chit groups in the financial year 2011-12. In the current
financial year the Company has started 7 new groups. As at now the Company is doing a business of Rs.51.650
millions per month. The Company is doing a good progress and is doing a good
business. They earned a profit of Rs.1.868 millions before depreciation and tax after providing for depreciation
of Rs.0.140 million and Taxes of Rs.0.512 million they earned a profit of Rs.1.122 millions.
In a short time, their
company has received good reputation in the Public and they are confident of
achieving good results in near future also
FIXED ASSETS:
·
Type Machine
·
Electrical Fittings
·
Furniture and Fixtures
·
Vehicles
·
Computer
·
Air Conditioner
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.60.80 |
|
|
1 |
Rs.91.95 |
|
Euro |
1 |
Rs.80.36 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
31 |
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.