MIRA
INFORM REPORT
|
Report Date : |
10.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Registered
Office : |
Khasara No. 838,
A-3/15, 1st Floor, Upkar Colony, (Near MTNL Exchange), Burari,
Delhi - 110084 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
14.09.1988 |
|
|
|
|
Com. Reg. No.: |
55-033176 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 95.193
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999DL1988PLC033176 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELE02584B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACE0706G |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Medical Disposables and Surgical Devices. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (13) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Exist |
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|
|
|
Comments : |
Subject is an established company having a moderate track record. The Management of the company has failed to file the latest financial
of 2012 with government department. As per financial of 2011, sales turnover of the company has slightly
dipped whereas it has also incurred heavy losses from its operation in 2011. Rating also takes into consideration delaying of its debt repayment. Business is active. Payment terms are unknown. The company can be considered for business dealings on a safe and
secured trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term Bank facilities : D [Suspended] |
|
Rating Explanation |
Default |
|
Date |
October 8, 2012 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term Bank facilities : D [Suspended] |
|
Rating Explanation |
Default |
|
Date |
October 8, 2012 |
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
MANAGEMENT NON-COOPERATIVE [91-11-27662089]
LOCATIONS
|
Registered Office : |
Khasara No. 838,
A-3/15, 1st Floor, Upkar Colony, (Near MTNL Exchange), Burari,
Delhi – 110084, India |
|
Tel. No.: |
91-11-27662089 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Factory 1 : |
Plot No - 195, 196 / 205, 206 Phase-I Udyog Vihar, Gurgaon - 122016 |
|
Tel. No.: |
91-124-5001831/ 34 |
|
Fax No.: |
91-124-5001835 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
Plot No - 292, Phase-II, Udyog Vihar, Gurgaon – 122016, |
|
Tel. No.: |
91-124-5001842 |
|
Fax No.: |
91-124-5001843 |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mahesh Chand Sharma |
|||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||
|
Address : |
A-89/2, Phase 10, Gali No. 14, Shiv Vihar, Delhi – 110094, India |
|||||||||||||||||||
|
Date of Birth/Age : |
01.01.1963 |
|||||||||||||||||||
|
Date of Appointment : |
28.09.2012 |
|||||||||||||||||||
|
DIN No.: |
06391994 |
|||||||||||||||||||
|
Other Directorship :
|
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|
|||||||||||||||||||
|
Name : |
Mr. Lokesh Kumar Tiwari |
|||||||||||||||||||
|
Designation : |
Additional director |
|||||||||||||||||||
|
Address : |
401, Virender Nagar / Laxmi Vihar, Village Burari Delhi – 110084,
India |
|||||||||||||||||||
|
Date of Birth/Age : |
05.02.1974 |
|||||||||||||||||||
|
Date of Appointment : |
28.09.2012 |
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|
DIN No.: |
06361278 |
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|
Other Directorship :
|
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|
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|
|||||||||||||||||||
|
Name : |
Mr. Manoj Kumar Sinha |
|||||||||||||||||||
|
Designation : |
Additional director |
|||||||||||||||||||
|
Address : |
818/B, Upakar Colony, Sant Nagar, Burari, Delhi – 110084, India |
|||||||||||||||||||
|
Date of Birth/Age : |
07.01.1974 |
|||||||||||||||||||
|
Date of Appointment : |
28.09.2012 |
|||||||||||||||||||
|
DIN No.: |
05356328 |
|||||||||||||||||||
|
Other Directorship :
|
||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
AS ON 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Public financial companies |
|
18.78 |
|
Bodies
corporate |
|
80.99 |
|
Directors
or relatives of directors |
|
0.11 |
|
Other
top fifty shareholders |
|
0.12 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Medical Disposables and Surgical Devices. |
||||
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|
||||
|
Products/ Services : |
|
PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Medical Devices |
Nos. |
190000000 |
-- |
|
Neede |
Nos. |
175000000 |
146584300 |
|
Dies, Mould and Machines |
Nos. |
192 |
-- |
|
I.V. Cannula |
Nos. |
-- |
99958348 |
|
Blood Bags |
Nos. |
-- |
3118666 |
|
Others |
Nos. |
-- |
38133897 |
|
Dies, Moulds and Machines |
Nos. |
-- |
45 |
|
Rubber Closer |
Nos. |
-- |
119828494 |
|
Rubber Sleeve |
Nos. |
-- |
5784800 |
|
Silicone Tube |
Nos |
-- |
12293680 |
|
S. S. Pipe |
Mtr |
-- |
183917 |
|
Components of Medical Disposable |
Nos. |
-- |
10728100 |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
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|
||||||||||||||||||
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Bankers : |
· Union Bank of India, Industrial Finance Branch, M-11, Middle Circle, Connaught Circus, New Delhi – 110001, India Punjab National Bank, International Banking Branch, DCM
Building, Barakhamba Road, Delhi - 110001, India |
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|
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Facilities : |
|
||||||||||||||||||
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|
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Basant Ram and Sons Chartered Accountants |
|
Address : |
A -18, Nizammudin East, Murli Marg, New Delhi – 110013,
India |
|
Tel. No.: |
91-11-24353037/ 41825679 |
|
Income-tax
PAN of auditor or auditor's firm : |
AADFB4089F |
|
|
|
|
Subsidiary company : |
Inkam Enterprises Private Limited [U31909DL1981PTC012671] |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9,519,300 |
Equity Shares |
Rs. 10/- each |
Rs. 95.193
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
95.193 |
95.193 |
95.193 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
429.253 |
456.839 |
447.218 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
524.446 |
552.032 |
542.411 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
373.153 |
362.995 |
376.318 |
|
|
2] Unsecured Loans |
12.201 |
14.330 |
14.499 |
|
|
TOTAL BORROWING |
385.354 |
377.325 |
390.817 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
909.800 |
929.357 |
933.228 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
319.035 |
333.867 |
407.120 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
2.742 |
|
|
|
|
|
|
|
|
INVESTMENT |
5.247 |
5.247 |
5.247 |
|
|
DEFERRED TAX ASSETS |
23.746 |
13.924 |
13.116 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
320.558
|
311.308 |
306.890
|
|
|
Sundry Debtors |
506.933
|
414.059 |
380.234
|
|
|
Cash & Bank Balances |
26.617
|
32.575 |
39.581
|
|
|
Other Current Assets |
1.090
|
1.090 |
1.366
|
|
|
Loans & Advances |
90.257
|
93.100 |
158.037
|
|
Total
Current Assets |
945.455
|
852.132 |
886.108 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
262.538
|
187.722 |
216.622 |
|
|
Other Current Liabilities |
31.766
|
15.914 |
25.422
|
|
|
Provisions |
112.379
|
97.796 |
142.532
|
|
Total
Current Liabilities |
406.683
|
301.432 |
384.576 |
|
|
Net Current Assets |
538.772
|
550.700 |
501.532
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
OTHER ASSETS |
23.000 |
25.619 |
3.471 |
|
|
|
|
|
|
|
|
TOTAL |
909.800 |
929.357 |
933.228 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Operating revenue, net |
1302.398 |
1316.503 |
1344.642 |
|
|
|
Other Income |
30.739 |
31.230 |
25.828 |
|
|
|
TOTAL (A) |
1333.137 |
1347.733 |
1370.470 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
487.187 |
499.131 |
1300.575 |
|
|
|
Manufacturing service costs |
150.230 |
141.217 |
|
|
|
|
Employee related expenses |
482.658 |
438.197 |
|
|
|
|
Administrative selling other expenses |
136.104 |
144.559 |
|
|
|
|
TOTAL (B) |
1256.179 |
1223.104 |
1300.575 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
76.958 |
124.629 |
69.895 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
47.779 |
45.973 |
54.788 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
29.179 |
78.656 |
15.107 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
57.579 |
60.285 |
69.721 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(28.400) |
18.371 |
(54.614) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(0.814) |
8.750 |
0.168 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(27.586) |
9.621 |
(54.782) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
606.000 |
606.046 |
661.027 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
38.565 |
67.818 |
|
|
|
Stores & Spares |
|
41.013 |
42.287 |
|
|
|
Capital Goods |
|
0.000 |
0.398 |
|
|
|
Trading Material |
|
31.739 |
33.694 |
|
|
TOTAL IMPORTS |
NA
|
111.317 |
144.197 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(2.89) |
1.01 |
(5.75) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(2.07)
|
0.71 |
(4.00)
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(2.18)
|
1.40 |
(4.06)
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(2.25)
|
1.55 |
(4.22)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.05)
|
0.03 |
(0.10)
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.73
|
0.68 |
0.72 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.32
|
2.83 |
2.30 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last three
years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
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 |
Yes |
|
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 |
No |
|
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 |
Yes |
LITIGATION DETAILS
IN THE HIGH COURT OF DELHI AT NEW DELHI
25
CO.PET. 516 of 2012 and CA No.2100 of 2012
MASCOT ENGINEERING COMPANY LIMITED ..... Petitioner
Through: Mr. Sanjeet K. Trivedi, Advocate
Versus
EASTERN MEDIKIT LIMITED ..... Respondent
Through: Mr. Amit Jain and Mr. Vaibhav Kashyap, Advocates
CORAM: JUSTICE S. MURALIDHAR
ORDER
10.05.2013
1. Learned counsel for the Respondent informs the Court that there is no
prospect of the Respondent company being able to meet the outstanding liability
of the Petitioner.
2. In that view of the matter, the petition is admitted. A copy of this
petition be served on the Official Liquidator (?OL?) attached to this Court
within five days.
3. The OL is appointed as the Provisional Liquidator (?PL?) of the Respondent.
The OL is directed to take over all the assets, books of accounts and of the
Respondent forthwith. The OL shall also prepare a complete inventory of all the
assets of the Respondent before sealing the premises in which they are kept. He
may also seek the assistance of a valuer to value the assets. He is permitted
to take the assistance of the local police authorities, if required.
4. Publication of the citation of the petition be effected in the Official Gazette,? The Statesman? (English) and ?Veer Arjun? (Hindi) in terms of Rule 24 of the Companies (Court) Rules, 1959 (?Rules?). The cost of publication shall be borne by the Petitioner.
5. The Directors of the Respondent are directed to strictly comply with the
requirements of Section 454 of the Companies Act, 1956 and Rule 130 of the
Rules and furnish to the OL a statement of affairs in the prescribed form
verified by an affidavit within a period of 21 days from today. They will also
file affidavits in this Court, with advance copies to the OL, within four weeks
setting out the details of all the assets, both movable and immovable, of the
Respondent company and enclose therewith the balance sheets, profit and loss
accounts and copies of the statements of all the bank accounts for the last
three years.
6. A compliance report be filed by the OL before the next date of hearing.
7. List on 16th September 2013.
S. MURALIDHAR, J
MAY 10, 2013/tp
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10315743 |
13/10/2011 |
10,000,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE
BRANCH, M-11, MIDDLE CIRCLE, |
B24587958 |
|
2 |
10000751 |
14/03/2006 |
15,000,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE
BRANCH, M-11, MIDDLE CIRCLE, |
A00225193 |
|
3 |
80020821 |
18/11/2011 * |
571,000,000.00 |
UNION BANK OF INDIA (LEAD BANK) |
INDUSTRIAL FINANCE
BRANCH, M-11, MIDDLE CIRCLE, |
B27944065 |
|
4 |
80011572 |
25/10/2010 * |
249,600,000.00 |
PUNJAB NATIONAL BANK |
INTERNATIONAL BANKING BRANCH, DCM BUILDING, BARAKHAMBA ROAD, DELHI - 110001, INDIA |
A98909674 |
|
5 |
80004510 |
10/12/2008 * |
336,000,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE
BRANCH, M-11, MIDDLE CIRCLE, |
A54115480 |
* Date of charge modification
UNSECURED LOANS
|
Unsecured Loans |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
|
|
Other debt unsecured |
12.201 |
14.330 |
|
Total |
12.201 |
14.330 |
OPERATIONS
The Company has managed to register sales turnover of Rs.1302.398 Millions i.e. decrease in the sales turnover during the year against the sales turnover of Rs.1316.503 Millions in the corresponding year 2009-10. The decrease in sales turnover is mainly due to the impact of global meltdown as majority of overseas clients found it difficult to get credit lines from their bankers to negotiate better credit terms. However in spite of huge financial losses suffered by the company in the previous year and also increased production cost in the current financial year the company has achieved Net Loss of Rs. 27.586 Millions during the year 2010-11.
FUTURE PROSPECTS
Management is fully geared up in view of the significant
challenges that lie ahead and they intend to accelerate their top line growth
with introduction of cardiac and various other products to contribute in achieving
higher-sales-growth. The Directors have duly perceived the cause and effects of
competition and have been able to develop sound strategies to increase market
share not only in the Indian market but also in the International market.
FIXED ASSETS:
· Land
· Office building
· Plant and machinery
· Furniture and fixtures
· Vehicles
· Knowhow
· Computer software
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. 94.77 |
|
Euro |
1 |
Rs. 81.54 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
13 |
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.