MIRA
INFORM REPORT
|
Report Date : |
06.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
MARVELEDGE REALTORS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
301-302, Jewel
Tower, Survey No. 25/H, Lane No.5, Koregaon Park, Pune – 411001, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
18.03.2008 |
|
|
|
|
Com. Reg. No.: |
11-131638 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 3.357 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U70101PN2008PTC131638 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in developing of property. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 6226000 |
|
|
|
|
Status : |
Project under implementation |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Even though the company was incorporated in 2008, the company has not
yet started with its core business activity.
As per the financial of 2012, the company has incurred huge
pre-operative expenses. However, the networth of the company seems to be strong. Business is
active. Payments are reported to be 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.
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
|
Name : |
Mr. Bandgi Shaikh |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-20-26152920 |
|
Date : |
05.08.2013 |
LOCATIONS
|
Registered Office : |
301-302, Jewel
Tower, Survey No. 25/H, Lane No.5, Koregaon Park, Pune – 411001, Maharashtra,
India |
|
Tel. No.: |
91-20-26052920/ 21/ 30250700 |
|
Fax No.: |
91-20-66201389 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 26.09.2012
|
Name : |
Mr. Vinay Mahavirprasad Chudiwal |
|
Designation : |
Director |
|
Address : |
Flat No. A204, Sujay Garden Nagar, Koregaon Park, Pune – 411001,
Maharashtra, India |
|
Date of Birth/Age : |
03.03.1971 |
|
Date of Appointment : |
18.03.2008 |
|
DIN No.: |
00158193 |
|
|
|
|
Name : |
Mr. Vishwajeet Subhash Jhavar |
|
Designation : |
Director |
|
Address : |
A-10, Flat No. 1, Meera Nagar, Koregaon Park, Pune – 411001,
Maharashtra, India |
|
Date of Birth/Age : |
03.05.1969 |
|
Date of Appointment : |
18.03.2008 |
|
DIN No.: |
00158203 |
|
|
|
|
Name : |
Ming Kwan Gabriel Fong |
|
Designation : |
Nominee director |
|
Address : |
348, Tregunter Tower 3, 14 Tregunter Path Mid Levels China |
|
Date of Birth/Age : |
25.02.1974 |
|
Date of Appointment : |
20.10.2009 |
|
DIN No.: |
01251088 |
|
|
|
|
Name : |
Zoltan Varga |
|
Designation : |
Director |
|
Address : |
Chateau De Peak, 8 MT Kellet Road, Hong Kong, China |
|
Date of Birth/Age : |
25.02.1974 |
|
Date of Appointment : |
27.03.2008 |
|
DIN No.: |
01336565 |
|
|
|
|
Name : |
Mr. David Zeiden Craig |
|
Designation : |
Nominee director |
|
Address : |
Flat C, 7/F, Camelot Heights, 66 Kennedy Road, Wan Chai Hong Kong
China |
|
Date of Birth/Age : |
03.02.1972 |
|
Date of Appointment : |
27.08.2010 |
|
DIN No.: |
03093851 |
|
|
|
|
Name : |
Mr. Sundareswaran Sri Shankar |
|
Designation : |
Alternate director |
|
Address : |
A 001/101, Iris Block 1 Nagar, Koregaon Park, Sarjapur Road, Bangalore
– 560034, Karnataka, India |
|
Date of Birth/Age : |
03.02.1972 |
|
Date of Appointment : |
26.09.2012 |
|
DIN No.: |
03011927 |
KEY EXECUTIVES
|
Name : |
Mr. Bandgi Shaikh |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 26.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Marvel Landmarks Private Limited, India [Class B] |
|
30000 |
|
Vishwajeet Subhash Jhavar [Class B] |
|
35708 |
|
Amif Reinvestment IV Limited, Mauritius [Class A] |
|
270000 |
|
|
|
|
|
Total |
|
335708 |
AS ON 05.03.2013
|
Names of Allottees |
|
No. of Shares |
|
Amif Reinvestment IV Limited, Mauritius [Class A] |
|
16617 |
|
Vishwajeet Subhash Jhavar [Class B] |
|
2198 |
|
Marvel Landmarks Private Limited, India [Class B] |
|
1846 |
|
|
|
|
|
Total |
|
20661 |
AS ON 26.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
80.43 |
|
Bodies
corporate |
|
8.94 |
|
Directors
or relatives of directors |
|
10.63 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in developing of property. |
||||
|
|
|
||||
|
Products/ Services : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
Axis Bank Limited, Corporate Banking Branch, 214/215, 2nd
Floor, City Mall, Ganeshkhind Road, Pune - 411007, Maharashtra, India |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
BSR and Company Chartered Accountants |
|
Address : |
703, 7th Floor, Godrej Castlemaine, Next to Ruby Hall, Bund Garden
Road, Pune – 411001, Maharashtra, India |
|
Tel. No.: |
91-20-30585764/ 30585765 |
|
Fax No.: |
91-20-30585775 |
|
Income-tax
PAN of auditor or auditor's firm : |
AAIFB0630K |
|
|
|
|
Holding Company : |
Amif Reinvestment IV Limited, Mauritius |
|
|
|
|
Entity where key
management personnel have significant influence : |
· Marvel Realtors and Developers Limited Marvel Landmarks Private Limited Marvel Realtors Mrvel Sigma Homes Private Limited Marvel Promoters and Developers (Pune) Private
Limited |
CAPITAL STRUCTURE
AFTER 26.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
400,000 |
Class A Equity Shares |
Rs. 10/- each |
Rs. 4.000 Millions |
|
100,000 |
Class B Equity Shares |
Rs. 10/- each |
Rs. 1.000 Million |
|
|
Total |
|
Rs. 5.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
286,617 |
Equity Shares |
Rs. 10/- each |
Rs. 2.866 Millions |
|
69,752 |
Class B Equity Shares |
Rs. 10/- each |
Rs. 0.698 Million |
|
|
Total |
|
Rs. 3.564
Millions |
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
400,000 |
Class A Equity Shares |
Rs. 10/- each |
Rs. 4.000 Millions |
|
100,000 |
Class B Equity Shares |
Rs. 10/- each |
Rs. 1.000 Million |
|
|
Total |
|
Rs. 5.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
270,000 |
Class A Equity Shares |
Rs. 10/- each |
Rs. 2.700
Millions |
|
65,708 |
Class B Equity Shares |
Rs. 10/- each |
Rs. 0.657 Million |
|
|
Total |
|
Rs. 3.357
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 |
|
3.357 |
3.357 |
|
(b) Reserves & Surplus |
|
1553.048 |
1620.694 |
|
(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) |
|
1556.405 |
1624.051 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(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) |
|
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
718.777 |
370.869 |
|
(b)
Trade payables |
|
124.372 |
99.153 |
|
(c)
Other current liabilities |
|
608.282 |
250.620 |
|
(d) Short-term
provisions |
|
0.000 |
0.000 |
|
Total Current Liabilities
(4) |
|
1451.431 |
720.642 |
|
|
|
|
|
|
TOTAL |
|
3007.836 |
2344.693 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
11.831 |
12.846 |
|
(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 |
|
8.770 |
8.789 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
20.601 |
21.635 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
2836.986 |
2276.086 |
|
(c)
Trade receivables |
|
19.101 |
0.000 |
|
(d) Cash
and cash equivalents |
|
16.053 |
13.545 |
|
(e)
Short-term loans and advances |
|
103.841 |
32.234 |
|
(f) Other
current assets |
|
11.254 |
1.193 |
|
Total
Current Assets |
|
2987.235 |
2323.058 |
|
|
|
|
|
|
TOTAL |
|
3007.836 |
2344.693 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
3.193 |
|
|
2] Share Application Money |
|
|
0.004 |
|
|
3] Reserves & Surplus |
|
|
1657.700 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
1660.897 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1660.897 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.092 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
79.423 |
|
|
DEFERRED TAX ASSETS |
|
|
0.135 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
1710.532 |
|
|
Sundry Debtors |
|
|
0.000 |
|
|
Cash & Bank Balances |
|
|
0.986 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
21.309 |
|
Total
Current Assets |
|
|
1732.827 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
17.784 |
|
|
Other Current Liabilities |
|
|
133.796 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
151.580 |
|
|
Net Current Assets |
|
|
1581.247 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1660.897 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
7.836 |
0.914 |
3.866 |
|
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
72.048 |
106.186 |
8.189 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(64.212) |
(105.272) |
(4.323) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2.595 |
8.019 |
4.322 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(66.807) |
(113.291) |
(8.645) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.839 |
0.919 |
0.015 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(67.646) |
(114.210) |
(8.660) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
(0.136) |
(0.089) |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(67.646) |
(114.346) |
(8.749) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
(102.427) |
11.919 |
20.668 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(170.073) |
(102.427) |
11.919 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(201.50) |
(347.50) |
(31.84) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(863.27)
|
(12510.50) |
(226.31) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(2.25) |
(4.87) |
(0.50) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.04) |
(0.07) |
(0.01) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.46
|
0.23 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.06
|
1.43 |
11.43 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT: NOT AVAILABLE
|
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 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 |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10225934 |
30/01/2013 * |
1,250,000,000.00 |
AXIS BANK LIMITED |
CORPORATE BANKING BRANCH, 214/215, 2ND FLOOR, CITY MALL, GANESHKHIND ROAD, PUNE - 411007, MAHARASHTRA, INDIA |
B69445211 |
* Date of charge modification
BACKGROUND
Subject is a Joint Venture between Amif Reinvestment IV Limited,
Mauritius and Marvel Lankmark Private Limited. The Company is developing
approximately 1.1 million square feet of commercial space at Nagar Road,
Pune.
OPERATIONS AND
FUTURE PROSPECTS:
The Company is in process of completion of its project and has reported
tremendous growth in all its endeavors during the financial year. As per the
accounting policy adopted by the Company, the revenue is recognized as per the
percentage of project completion method and will be recognizing the revenue in
the coming years, upon significant completion of the project. The Company has
reported loss for the financial year. However, the Board of Directors of the
Company are hopeful that it would be compensated in the forthcoming years.
FIXED ASSETS:
· Office Equipments
Plant
and Machinery
Computers
Furniture
and Fixture
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. 60.82 |
|
|
1 |
Rs. 92.97 |
|
Euro |
1 |
Rs. 80.73 |
INFORMATION DETAILS
|
Information Gathered
by : |
JML |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.