|
Report Date : |
21.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
FERNAS CONSTRUCTION INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Space No.S-19, Second Floor, Malhan Falcon Plaza, Plot No.4, Pocket 7 Sector-12,
Dwarka, New Delhi – 110 075 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
10.08.2010 |
|
|
|
|
Com. Reg. No.: |
55-206910 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
|
|
|
|
|
CIN No.: [Company Identification
No.] |
U45400DL2010PTC206910 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELF04139C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCF5761H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged
in the business of Civil Engineering Works relating to construction/laying of
pipelines, all types of infrastructure works etc and all other such civil and
related construction works and convenience of public utility. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “Fernas Construction Company Inc., Turkey”.
It is an established company having moderate track record. The company is gradually improving its performance and has achieved a
better growth in its sales turnover as well as net profitability during 2012. However, the company has successfully executed only two orders in oil
and gas sector. Trade relations are fair. Business is active. Payment terms are slow
but correct. In view of strong holding the subject 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities: BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
January 10, 2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities: A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
January 10, 2013 |
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
|
Registered Office : |
Space No.S-19, Second Floor, Malhan Falcon Plaza, Plot No.4, Pocket 7
Sector-12, Dwarka, New Delhi – 110 075, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Corporate Office : |
SCO 61, Leisure Valley, Sec 29, Near Bikaner Wala, Gurgaon 122 001,
India |
|
Tel. No.: |
91-124-4338300 / 4338333 |
|
Fax No.: |
91-124-4338303 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Rohit Singhal |
|
Designation : |
Director |
|
Address : |
C-335, Yojna Vihar, Delhi – 110 095, India |
|
Date of Birth/ Age : |
04.11.1974 |
|
Date of Appointment : |
10.08.2010 |
|
DIN No.: |
02896012 |
|
|
|
|
Name : |
Mr. Engin Nasiroglu |
|
Designation : |
Director |
|
Address : |
D-Bakir Mahallesi, Nasiroglu IS Merkezi Sokak EV No.103, Batman, 72050, Turkey |
|
Date of Birth/ Age : |
14.03.1975 |
|
Date of Appointment : |
10.08.2010 |
|
DIN No.: |
03042662 |
|
|
|
|
Name : |
Mr. Ferhat Nasiroglu |
|
Designation : |
Director |
|
Address : |
Belde Mahallesi, 3206 Sokak No.2, Batman, 72050, Turkey |
|
Date of Birth/ Age : |
25.01.1969 |
|
Date of Appointment : |
10.08.2010 |
|
DIN No.: |
03042593 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Fernas Construction Company Limited |
49900 |
0.45% |
|
Engin Nasiroglu |
100 |
0.00% |
|
Fernas Construction A.S. |
4389484 |
40.03% |
|
Fernas Insaat A.S. |
6526306 |
59.52% |
|
Total |
10965790 |
100.00% |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged
in the business of Civil Engineering Works relating to construction/laying of
pipelines, all types of infrastructure works etc and all other such civil and
related construction works and convenience of public utility. |
|
|
|
|
Products/ Services : |
Construction
Contracts |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Axis Bank Limited, 2nd Floor, Statesman House, 148,
Barakhamba Road, New Delhi – 110 001, India |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Vishwanath Singh and Associates Chartered Accountants |
|
Address : |
Flat No.10, Shankar Market, Connaught Circus, New Delhi – 110 001,
India |
|
PAN No.: |
AAAFV4795R |
|
|
|
|
Holding Company : |
Fernas Insaat AS, Turkey |
CAPITAL STRUCTURE
AS ON 29.09.2012
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
55000000 |
Equity Shares |
Rs.10/- each |
Rs.550.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
10965790 |
Equity Shares |
Rs.10/- each |
Rs.109.658
millions |
|
|
|
|
|
AS ON 31.03.2012
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
10965790 |
Equity Shares |
Rs.10/- each |
Rs.109.658
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 |
|
109.658 |
0.500 |
|
(b) Reserves & Surplus |
|
96.469 |
0.687 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.006 |
|
Total
Shareholders’ Funds (1) + (2) |
|
206.127 |
1.193 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
112.544 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
2.486 |
0.000 |
|
(c)
Other long term liabilities |
|
0.000 |
0.000 |
|
(d)
Long-term provisions |
|
2.902 |
0.076 |
|
Total
Non-current Liabilities (3) |
|
117.932 |
0.076 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
0.000 |
0.000 |
|
(b)
Trade payables |
|
1776.891 |
1.548 |
|
(c)
Other current liabilities |
|
756.161 |
2.798 |
|
(d)
Short-term provisions |
|
0.156 |
0.000 |
|
Total
Current Liabilities (4) |
|
2533.208 |
4.346 |
|
|
|
|
|
|
TOTAL |
|
2857.267 |
5.615 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
188.718 |
0.000 |
|
(ii)
Intangible Assets |
|
16.183 |
0.000 |
|
(iii)
Capital work-in-progress |
|
1.941 |
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 |
0.069 |
|
(d) Long-term Loan
and Advances |
|
6.976 |
0.000 |
|
(e)
Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
213.818 |
0.069 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
220.637 |
0.000 |
|
(c)
Trade receivables |
|
717.802 |
0.000 |
|
(d)
Cash and cash equivalents |
|
692.605 |
1.360 |
|
(e)
Short-term loans and advances |
|
687.989 |
4.186 |
|
(f)
Other current assets |
|
324.416 |
0.000 |
|
Total
Current Assets |
|
2643.449 |
5.546 |
|
|
|
|
|
|
TOTAL |
|
2857.267 |
5.615 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
8.607 |
|
|
|
Other Income |
|
|
0.000 |
|
|
|
TOTAL (A) |
|
|
8.607 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Payroll and Benefits |
|
|
7.037 |
|
|
|
Operating Expenses |
|
|
0.580 |
|
|
|
TOTAL (B) |
|
|
7.617 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
0.990 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
0.990 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
|
|
0.990 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
|
0.302 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
|
95.782 |
0.688 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
|
|
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
|
|
|
|
|
|
Dividend |
|
|
|
|
|
|
Tax on Dividend |
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
|
|
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
|
|
|
|
|
|
Commission Earnings |
|
|
|
|
|
|
Other Earnings |
|
|
|
|
|
TOTAL EARNINGS |
|
|
|
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
|
|
|
|
|
Stores & Spares |
|
|
|
|
|
|
Capital Goods |
|
|
|
|
|
|
Others |
|
|
|
|
|
TOTAL IMPORTS |
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
13.75 |
|
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2011 |
|
PAT / Total Income |
(%) |
|
|
7.99 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
|
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
16.72 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.83 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
|
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
1.23 |
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 |
No |
|
9) Name of person contacted |
No |
|
10) Designation of contact person |
No |
|
11) Turnover of firm for last two years |
Yes |
|
12) Profitability for last two 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 |
Yes |
|
Unsecured Loans |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Rupee term loans from others |
112.544 |
0.000 |
|
Total
|
112.544 |
0.000 |
BACKGROUND
The company was
incorporated on August 10, 2010 under the Companies Act, 1956 at New Delhi. The
Company is a subsidiary of FernasInsaat A. S., Turkey. The Company is engaged in
the business of Civil Engineering Works relating to construction/laying of
pipelines, all types of infrastructure works etc and all other such civil and
related construction works and convenience of public utility.
GENERAL REVIEW
The Company was
incorporated on 10th August 2010 and has got Projects from IOCL,
Paradip, Orrissa and OPAL, Dahej, Bharuch, Gujarat. Company playing to obtain
some more projects and is quite confident to get some big projects very soon.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U45400DL2010PTC206910 |
|
Name of the
company |
FERNAS
CONSTRUCTION INDIA PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Space No.S-19, Second Floor, Malhan Falcon Plaza, Plot No.4 Pocket 7
Sector-12, Dwarka, New Delhi – 110 075, India E-Mail: kishore@fernas.co.in
|
|
This form is for |
Modification of
charge |
|
Charge identification
number of the modified |
10289057 |
|
Type of charge |
Book Debts Movable Property
(not being pledge) |
|
Particular of
charge holder |
Axis Bank Limited, 2nd Floor, Statesman House, 148,
Barakhamba Road, New Delhi – 110 001, India E-Mail: f8.axisbank@gmail.com
|
|
Nature of
description of the instrument creating or modifying the charge |
No instrument was
executed. letter dated 11.04.2013 |
|
Date of
instrument Creating the charge |
11.04.2013 |
|
Amount secured by
the charge |
Rs.410.000
millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest: As per Sanction
Letter No. AXISB/MC-1/SS/12-13/47 dated 07.06.2012 to be amended from time to
time. Terms of
Repayment: As per Sanction
Letter No. AXISB/MC-1/SS/12-13/47 dated 07.06.2012 to be amended from time to
time. Margin: As per Sanction
Letter No. AXISB/MC-1/SS/12-13/47 dated 07.06.2012 to be amended from time to
time. Extent and
Operation of the charge: Pari Passu
Charge. Others: The above is to
secure the following credit facilities :- Cash Credit =
Rs.30.000 millions, Bank Guarantee =
Rs.370.000 millions, LER = Rs.10.000 millions, Letter of Credit/LOU for Buyers Credit (sub
limit of BG limit) = (370.000) millions |
|
Short particulars
of the property charged |
Hypothecation by
way of first pari passu charge over all present and future current assets and
second pari passu charge over movable fixed assets excluding equipments
exclusively charged to other financial institutions stored or to be stored at
the company's godowns or premises or wherever else the same may be. |
|
Date of latest
modification prior to the present modification |
13.06.2012 |
|
Particulars of the
present modification |
There being no
change in the credit facilities of Rs.410.000 millions already registered
however charge is being modified to rectify the amount mentioned in earlier
form 8 as Rs.41.000 millions instead of Rs.410.000 millions. All terms and
conditions remaining the same. |
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixture
·
Vehicles
·
Office Equipment
Intangible Assets
·
Computer Software
WEBSITE DETAILS:
PRESS RELEASES/ NEWS
FERNAS CONTRUCTION INKS PACT WITH GUJARAT
Gandhinagar, January 12, 2013:
Fernas
Construction India Private Limited has signed an MoU with the Gujarat
Government pledging an investment of $1 billion (Rs.53000.000 millions) over a
period of four years for setting up a new LNG terminal at Okha in Jamnagar
district.
According to a
release, Fernas India, a 100 per cent owned subsidiary of Turkey’s Fernas Inc.,
will set up a joint venture with the Mumbai-based Swarn Energy for floating the
LNG storage and re-gasification unit.
Fernas and Swarna
have signed the MoU as joint venture partners during the Vibrant Gujarat Global
Summit.
The MoU was
signed by Engin Nasiroglu, Vice - Chairman, Fernas Construction, in the
presence of Gujarat Chief Minister Narendra Modi and Pankaj Kumar, Vice -
Chairman and CEO, Gujarat Maritime Board.
FERNAS CONSTRUCTION BAGS RS.19000.000 MILLIONS
CONTRACT FROM ONGC PETRO
New Delhi, April 19, 2011:
Fernas
Construction India Private Limited, subsidiary of Fernas Construction Company
Inc based in Turkey, has signed an EPC contract with ONGC Petro Addition
Limited (OPaL), valued at Rs.19000.000 millions.
The project has
been awarded to Fernas by OPaL for integrated utilities and offsite packages
for Dahej Petrochemical Complex, at Dahej Gujarat. The project completion
schedule is 28 months, according to a statement issued by Fernas.
The contract was
signed in the presence of Mr. S. Jaipal Reddy, Minister of Petroleum and
Natural Gas, and Mr. Zafar Caglayan, Minister of State for External Trade of
Turkey.
Recently, Fernas
also bagged another EPC project valued at Rs.3000.000 millions from Indian Oil
Corporation and Engineers India Ltd for laying of pipelines and composite works
for South Jetty Pipeline Project in Paradip. The scheduled duration for
completion of this project is 15 months.
According to
Fernas, the scope of work for both the projects includes project management,
detailed design and engineering, procurement including supply, construction,
commissioning, and performance testing.
Fernas recently
executed the Dahej-Vijaipur gas pipeline for GAIL (India) Limited, estimated at
Rs.4500.000 millions. The company would be bidding for road projects worth
Rs.10000.000-20000.000 millions in the coming months and is evaluating options
to construct gas-based power plant in Jhabua, Madhya Pradesh.
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.63.73 |
|
|
1 |
Rs.99.79 |
|
Euro |
1 |
Rs.85.07 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
33 |
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.