MIRA
INFORM REPORT
|
Report Date : |
22.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
PONTIAC MERCHANTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
67/26, Strand
Road, Nimtollap PS, Jorabagan, Kolkata – 700006, West Bengal |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
27.03.1997 |
|
|
|
|
Com. Reg. No.: |
21-083706 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.7.878 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51109WB1997PTC083706 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Importer of Timber, Timber Togs etc. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (37) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 350000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The profit margin of the company is low. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealings with some caution.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
We are living in a world
where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once
powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and the
US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in
agriculture, industry and services. Dampening sentiment led to a cut-back in
investment as well as private consumption expenditure. Inflation remained
at high levels fuelled by the pressure from the food and fuel sectors. The
large fiscal and current account deficit s continued to cause grave concern. It
is imperative that India regains its growth trajectory of 8-9 % sooner than
later. This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
BB- (Long Term Rating) |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
September 12, 2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A4+ (Short Term Rating) |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
September 12, 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 DENIED BY
|
Name : |
Mr. Ankit Patel |
|
Designation : |
Director |
|
Contact No.: |
91-9830044662 |
|
Date : |
19.08.2013 |
LOCATIONS
|
Registered Office : |
67/26, Strand
Road, Nimtollap PS, Jorabagan, Kolkata – 700006, West Bengal, India |
|
Tel. No.: |
91-33-22591993/ 22319456 |
|
Mobile No.: |
91-9830044662 (Mr. Ankit Patel) |
|
Fax No.: |
91-33-22591114 |
|
E-Mail : |
|
|
|
|
|
Factory : |
Kolkata, West Bengal, India |
DIRECTORS
As on: 14.09.2012
|
Name : |
Mr. Purushottam Patel |
|
Designation : |
Director |
|
Address : |
79A, Nimtolla Ghat Street, Kolkata – 700006, West Bengal, India |
|
Date of Appointment : |
01.06.1998 |
|
DIN No.: |
00555983 |
|
|
|
|
Name : |
Mr. Ankit Patel |
|
Designation : |
Director |
|
Address : |
79A, Nimtolla Ghat Street, Kolkata – 700006, West Bengal, India |
|
Date of Appointment : |
03.11.2003 |
|
DIN No.: |
00555428 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 14.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Amber Fincrop Private Limited, India |
|
320 |
|
Ankit Patel |
|
70000 |
|
Anubhav Infrastructure Limited, India |
|
3400 |
|
Apex Procon Private Limited, India |
|
2500 |
|
Basu Consultants Private Limited, India |
|
400 |
|
Bhupendra Patel |
|
35100 |
|
Bimla Tradecome Private Limited, India |
|
300 |
|
Fantastic Finance Private Limited, India |
|
200 |
|
Gagandeep Sales Private Limited, India |
|
200 |
|
Gopal M. Patel |
|
70000 |
|
Kokila Ben Patel |
|
70000 |
|
Leena Patel |
|
70000 |
|
Lotus Dealmark Private Limited, India |
|
1000 |
|
Mayapur Merchandise Private Limited, India |
|
1000 |
|
Nawin Patel |
|
68500 |
|
Neha Patel |
|
56750 |
|
Onkar Trexim Private Limited, India |
|
68250 |
|
Priorty Sales Private Limited, India |
|
1500 |
|
Purushottam Patel |
|
65100 |
|
Rama Ben Patel |
|
70000 |
|
Reliable Conclave Private Limited, India |
|
280 |
|
Rimjhim Construction Private Limited, India |
|
200 |
|
Rita Patel |
|
69750 |
|
Shiv Shankar Exim Private Limited, India |
|
50000 |
|
Shree OHM Properties Private Limited, India |
|
3000 |
|
Silverpoint Infratech Private Limited, India |
|
3400 |
|
Trimurti Infradevlopers Private Limited, India |
|
800 |
|
Trustworthy Viniyog Private Limited, India |
|
200 |
|
Unicorn Tradelinks Private Limited, India |
|
400 |
|
V. R. Tradecom Private Limited, India |
|
300 |
|
Vaikunth Vintrade Private Limited, India |
|
2500 |
|
Vigneshwar Dealmark Private Limited, India |
|
2500 |
|
|
|
|
|
Total |
|
787850 |
Equity Share Break up (Percentage of Total Equity)
As on: 14.09.2012
|
Category |
|
Percentage |
|
Bodies corporate |
|
18.11 |
|
Directors or relatives of directors |
|
17.15 |
|
Other top fifty shareholders |
|
64.74 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Importer of Timber, Timber Togs etc. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
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Bankers : |
· State Bank of India, Specialised Chowringhee SME Branch, 2nd Floor, 1, Middleton Street, Jeevandeep Building, Kolkata - 700071, West Bengal, India · Bank of Baroda, India Exchange Branch, 4 , India Exchange Place, Kolkata - 700001, West Bengal, India · Indian Bank |
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Facilities : |
(Rs.
In Millions)
Notes: Details of
security for the secured short-term borrowings (Rs.
In Millions)
Details of short-term
borrowings guaranteed by some of the directors or other (Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Agrawal Subodh and Company Chartered Accountants |
|
Address : |
1 Ganesh Chandra Avenue, 3rd Floor, Kolkata – 700013, West Bengal,
India |
|
Tel. No.: |
91-33-22259430/ 31/ 32 |
|
Fax No.: |
91-33-2259431 |
|
E-Mail : |
|
|
PAN No.: |
AAFFA7060H |
|
|
|
|
Company in which KMP/ Relatives of KMP can exercise significant
influence : |
Shree Shankar Saw Mills Private Limited |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
787850 |
Equity Shares |
Rs.10/- each |
Rs.7.878 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
7.878 |
7.634 |
|
(b) Reserves & Surplus |
|
79.963 |
46.678 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
7.200 |
|
Total Shareholders’
Funds (1) + (2) |
|
87.841 |
61.512 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
7.749 |
4.755 |
|
(b) Deferred tax liabilities (Net) |
|
0.007 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
7.756 |
4.755 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
|
21.605 |
18.872 |
|
(b) Trade payables |
|
117.615 |
117.247 |
|
(c) Other current liabilities |
|
2.137 |
1.422 |
|
(d) Short-term provisions |
|
1.660 |
1.185 |
|
Total Current
Liabilities (4) |
|
143.017 |
138.726 |
|
|
|
|
|
|
TOTAL |
|
238.614 |
204.993 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
0.177 |
0.155 |
|
(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 |
|
10.090 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
14.005 |
17.053 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
24.272 |
17.208 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
47.160 |
49.718 |
|
(c) Trade receivables |
|
152.948 |
122.501 |
|
(d) Cash and cash equivalents |
|
11.893 |
13.677 |
|
(e) Short-term loans and advances |
|
2.135 |
1.664 |
|
(f) Other current assets |
|
0.206 |
0.225 |
|
Total Current
Assets |
|
214.342 |
187.785 |
|
|
|
|
|
|
TOTAL |
|
238.614 |
204.993 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
7.009 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
33.572 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
40.581 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
11.998 |
|
|
2] Unsecured Loans |
|
|
2.100 |
|
|
TOTAL BORROWING |
|
|
14.098 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
54.679 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.173 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
64.014
|
|
|
Sundry Debtors |
|
|
20.790
|
|
|
Cash & Bank Balances |
|
|
14.091
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
24.374
|
|
Total
Current Assets |
|
|
123.269
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
56.143
|
|
|
Other Current Liabilities |
|
|
11.835
|
|
|
Provisions |
|
|
0.785
|
|
Total
Current Liabilities |
|
|
68.763
|
|
|
Net Current Assets |
|
|
54.506
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
54.679 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
445.981 |
329.161 |
260.021 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
2.366 |
1.631 |
0.824 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.738 |
0.399 |
0.254 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
1.628 |
1.232 |
0.570 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3.411 |
2.179 |
1.609 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
5.039 |
3.411 |
2.179 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.07 |
1.61 |
0.94 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.04 |
0.80 |
0.67 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03 |
0.03 |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.33 |
0.38 |
0.35 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.44 |
1.35 |
1.79 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for 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 |
No |
|
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 |
OPERATION
During this year their company achieved a turnover of Rs.446.000 Millions as compared to Rs.329.200 Millions of the previous year, which is a growth of around 35.48%.
UNSECURED LOAN
(Rs. In Millions)
|
Particular |
As on 31.03.2012 |
As on 31.03.2011 |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and
Advance |
|
|
|
From Related Party |
0.300 |
0.000 |
|
From Bodies Corporate |
0.000 |
0.152 |
|
Loans and
Advance from related parties |
|
|
|
Ankit Patel |
0.103 |
0.160 |
|
Purshottam Patel |
0.380 |
0.023 |
|
|
|
|
|
Total |
0.783 |
0.335 |
CONTINGENT
LIABILITIES
The company has a contingent liability of Rs.49.944 Millions as on 31st March 2012 (Rs.49.995 Millions as at 31st March 2011) relating to Letter of Credit.
Bankers Charges
Report as per Registry
|
Corporate identity
number (CIN) or foreign company registration
number of the company |
U51109WB1997PTC083706 |
|
Name of the
company |
PONTIAC MERCHANTS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
67/26, Strand
Road, Nimtollap S, Jorabagan, Kolkata – 700006, West Bengal, India E-mail: sawmill@cal3.vsnl.net.in |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
10306865 |
|
Type of charge |
·
Immovable
property ·
Book
debts ·
Movable
property (not being pledge) ·
Floating
charge ·
Others
(All other Current Assets.) |
|
Particular of
charge holder |
State Bank of India, Specialised Chowringhee SME Branch, 2nd Floor, 1, Middleton Street, Jeevandeep Building, Kolkata - 700071, West Bengal, India E-mail: sbi.015196@sbi.co.in |
|
Nature of
instrument creating charge |
Supplemental
Agreement of Loan-cum-Hypothecation - (SME-4). Memorandum for
Recording Extension of Mortgage by Deposit of Title Deeds Covering Enhanced
Limits and/or Creation of Equitable Mortgage on Additional Properties for
Existing Limits and Enhanced Limits and Additional Facilities - (SME-7). |
|
Date of
instrument Creating the charge |
19.07.2012 |
|
Amount secured by
the charge |
Rs.130.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit : At
13.75% above Base Rate with monthly rests. Terms of
Repayment Working Capital
Limit is repayable on demand. Margin As stipulated by
the Bank for the respective assets from time to time. Finished Goods :
25%, Domestic
Receivables (cover 90 days) : 40% and Letter of Credit
: 20%. Extent and
Operation of the charge The charge
operates as first charge basis on the whole of the hypothecated current
assets, both present and future and mortgaged properties of the Company as
mentioned in Column No.15 to secure the maximum amount under the said charge
fixed at Rs.130.000 Millions together with interest, costs and charges
thereon. Others Originally, the
charge was created in favour of SBI, Chowringhee Branch, Himalaya House, 38B,
J. L. Nehru Road, Kolkata 700071 and the same charge is being modified in
favour of SBI, Specialised Chowringhee SME Branch, 2nd Floor, 1, Middleton
Street, Jeevandeep Building, Kolkata 700071 on the basis of execution of
Supplemental documents as given in the attachment and thereby the charge may
be construed as continuation of earlier charges. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Whole of the
current assets including stocks and book debts, both present and future. All that Office
Unit No.3 and 4 in the 5th Floor in Modern Bus Terminus cum Commercial
Complex alongwith one car parking space on the basement at Plot No.BG-12,
Action Area 1B, New Town, Kolkata, P.S. Rajarhat, District 24 Parganas (N)
under Deed Nos.9974 and 9976. |
|
Particulars of
the present modification |
By this modification, the overall limit is enhanced from Rs.80.000 Millions to Rs.130.000 Millions as stated under and charge on hypothecated current assets and mortgaged properties situated at Action Area 1B, New Town, Kolkata, P.S. Rajarhat, District 24 Parganas (N) extended to secure the enhanced overall limit together with interest, costs and charges thereon: Cash Credit : Rs.50.000 Millions Letter of Credit : Rs.80.000 Millions. All other terms and conditions continue to remain as before in full force and effect. |
FIXED ASSETS
Tangible Assets
· Furniture
· Motor Car
· Mobile Phone
· Air Condition
· Computer
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.63.46 |
|
|
1 |
Rs.99.42 |
|
Euro |
1 |
Rs.85.12 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
37 |
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.