MIRA
INFORM REPORT
|
Report Date : |
22.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
SOFTTECH ENGINEERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit No 5A, The Pentagon Shahu College Road, Near Satara Road, Telephone
Exchange, Pune-411009, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
17.06.1996 |
|
|
|
|
Com. Reg. No.: |
25-016718 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 24.966 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U30107PN1996PTC016718 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCS3857L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in development of technology software products in
Architectural Engineering and Construction space. |
|
|
|
|
No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 270000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record. Trade relations are fair. Business is active. Payment terms are usually
correct and as per commitment. The company can be considered for business dealings at usual 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.
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 : |
Ms. Aarti Chauhan |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-20-24218747 |
|
Date : |
17.08.2013 |
LOCATIONS
|
Registered Office : |
Unit No 5A, The Pentagon Shahu College Road, Near Satara Road,
Telephone Exchange, Pune-411009, Maharashtra, India |
|
Tel. No.: |
91-20-24218747 / 24217676 |
|
Fax No.: |
91-20-24218747 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
500 Sq. Ft. |
|
Location : |
Owned |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Rahul Gupta |
|
Designation : |
Director |
|
Address : |
House No.42, Sector-21 B, Faridabad-121001, Haryana, India |
|
Date of Birth/Age : |
14.03.1967 |
|
Date of Appointment : |
04.062010 |
|
DIN No.: |
00024732 |
|
|
|
|
Name : |
Mr. Babubhai Kanjibhai Patel |
|
Designation : |
Director |
|
Address : |
Design Point, Behind Hotel J B Varracha Road, Surat-395006, Gujarat,
India |
|
Date of Birth/Age : |
23.01.1967 |
|
Date of Appointment : |
25.06.2007 |
|
DIN No.: |
01342839 |
|
|
|
|
Name : |
Mr. Vijay Gupta |
|
Designation : |
Director |
|
Address : |
B1-503, Gagan Vihar Housing Co-Operative Housing Society, Bibwewadi,
Pune-411037, Maharashtra, India |
|
Date of Birth/Age : |
01.09.1962 |
|
Date of Appointment : |
21.06.1996 |
|
DIN No.: |
01653314 |
|
|
|
|
Name : |
Ms. Priti Vijay Gupta |
|
Designation : |
B1-503, Gagan Vihar Housing Co-Operative Housing Society, Bibwewadi,
Pune-411037, Maharashtra, India |
|
Address : |
Gagan Vihar |
|
Date of Birth/Age : |
13.09.1965 |
|
Date of Appointment : |
04.03.2008 |
|
DIN No.: |
01735673 |
KEY EXECUTIVES
|
Name : |
Ms. Aarti Chauhan |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
Vijay Gupta |
1774800 |
|
Babubhai Kanjibhai Patel |
313200 |
|
Covisible Solutions (India) Private Limited, India |
149574 |
|
Priti Vijay Gupta |
16000 |
|
Devendra Tripathi |
62322 |
|
Dhrubajoyti Debchoudhury |
62322 |
|
Ajay Kumar Jatin |
118410 |
|
TOTAL
|
2496628 |
AS ON 29.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Bodies corporate |
5.99 |
|
Directors or relatives of Directors |
84.27 |
|
Other top fifty shareholders |
9.74 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in development of technology software products in
Architectural Engineering and Construction space. |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management |
|||||||||||||||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
Small Industries Development Bank of India,
Jeevan Shree Building Ground Floor S No.1109, Plot No.488, Ganesh Khind Road,
Shivajinagar, Pune-411005, Maharashtra, India ·
The Saraswat Co-Operative Bank Limited |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
·
Mahesh Sahakari Bank Limited, Laxmi Road Branch,
Pune-411030, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
P G Bhagwat Chartered Accountant |
|
Address : |
Suit 101-102, Orchard, Dr. Pai Marg, Baner, Pune-411045, Maharashtra,
India |
|
PAN No.: |
AAAFB0762E |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2600000 |
Equity Shares |
Rs.10/- each |
Rs. 26.000 Millions |
|
50000 |
Optionally Convertible Cumulative Preference Shares |
Rs.10/- each |
Rs. 0.500 Million |
|
|
TOTAL |
|
Rs. 26.500
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2496628 |
Equity Shares |
Rs.10/- each |
Rs. 24.966
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 |
|
24.966 |
24.866 |
|
(b) Reserves & Surplus |
|
44.395 |
28.675 |
|
(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) |
|
69.361 |
53.541 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
54.175 |
69.406 |
|
(b) Deferred tax liabilities (Net) |
|
2.395 |
1.460 |
|
(c) Other long term liabilities |
|
0.151 |
0.151 |
|
(d) long-term provisions |
|
0.921 |
1.524 |
|
Total Non-current Liabilities (3) |
|
57.642 |
72.541 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
20.191 |
18.049 |
|
(b) Trade payables |
|
29.915 |
30.557 |
|
(c) Other current
liabilities |
|
37.539 |
30.802 |
|
(d) Short-term provisions |
|
2.614 |
2.952 |
|
Total Current Liabilities (4) |
|
90.259 |
82.360 |
|
|
|
|
|
|
TOTAL |
|
217.262 |
208.442 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
13.468 |
16.656 |
|
(ii) Intangible Assets |
|
34.884 |
7.838 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
14.846 |
34.449 |
|
(b) Non-current Investments |
|
3.245 |
3.245 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
8.305 |
8.913 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
74.748 |
71.101 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
6.325 |
28.540 |
|
(c) Trade receivables |
|
102.530 |
91.132 |
|
(d) Cash and cash
equivalents |
|
28.759 |
14.714 |
|
(e) Short-term loans and
advances |
|
2.613 |
2.282 |
|
(f) Other current assets |
|
2.287 |
0.673 |
|
Total Current Assets |
|
142.514 |
137.341 |
|
|
|
|
|
|
TOTAL |
|
217.262 |
208.442 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
24.866 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
22.658 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
47.524 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
40.714 |
|
|
2] Unsecured Loans |
|
|
13.191 |
|
|
TOTAL BORROWING |
|
|
53.905 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.983 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
102.412 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
24.640 |
|
|
Capital work-in-progress |
|
|
8.397 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
3.245 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
66.729 |
|
|
Cash & Bank Balances |
|
|
3.361 |
|
|
Other Current Assets |
|
|
19.488 |
|
|
Loans & Advances |
|
|
19.650 |
|
Total
Current Assets |
|
|
109.228 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
12.648 |
|
|
Other Current Liabilities |
|
|
19.835 |
|
|
Provisions |
|
|
10.615 |
|
Total
Current Liabilities |
|
|
43.098 |
|
|
Net Current Assets |
|
|
66.130 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
102.412 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
122.394 |
99.101 |
100.136 |
|
|
|
Other Income |
3.888 |
0.348 |
0.419 |
|
|
|
TOTAL |
126.282 |
99.449 |
100.555 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
82.393 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
92.289 |
81.342 |
82.393 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
33.993 |
18.107 |
18.162 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
12.813 |
6.663 |
6.354 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
21.180 |
11.444 |
11.808 |
|
|
|
|
|
|
|
|
|
|
TAX |
4.910 |
3.977 |
4.204 |
|
|
|
|
|
|
|
|
|
|
Short / Excess
Provision for IT for earlier years |
0.000 |
0.000 |
0.020 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
16.270 |
7.467 |
7.584 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
28.675 |
16.739 |
9.155 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Liability on account of Dividend on Equity
Shares |
1.248 |
1.243 |
0.000 |
|
|
|
Dividend |
0.203 |
0.206 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
44.395 |
28.675 |
16.739 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Sale of Software Products |
8.229 |
1.282 |
NA |
|
|
TOTAL EARNINGS |
8.229 |
1.282 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
6.52 |
3.00 |
3.06 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
13.29
|
7.51 |
7.54 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
17.30
|
11.55 |
11.79 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.63
|
6.70 |
8.82 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.31
|
0.21 |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.07
|
1.63 |
1.13 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.58
|
1.67 |
2.53 |
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
|
Unsecured Loan |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
Long Term
Borrowings |
|
|
|
Term Loans from
Banks |
|
|
|
HDFC Bank Limited Terms of Loan: Loan is borrowed
July 2010 and carries interest rate of 16% p.a. loan is repayable in equated monthly
installments of Rs. 0.104 Million from April 2012 to August 2013 |
0.501 |
1.584 |
|
Loans and
advances from related parties |
|
|
|
Mr. Vijay S Gupta – Managing Director |
10.889 |
9.088 |
|
Mrs. Priti Gupta – Director |
0.425 |
0.425 |
|
These are interest free loans |
|
|
|
Short Term
Borrowings |
|
|
|
Loans and
advances from related parties |
|
|
|
Mr. Vijay S Gupta – Managing Director |
0.000 |
0.136 |
|
Mrs. Priti Gupta – Director |
0.000 |
1.000 |
|
Deposits from Share Holders |
0.000 |
1.000 |
|
|
|
|
|
TOTAL |
11.815 |
13.233 |
CURRENT MATURITIES
OF LONG TERM DEBT
(Rs.
In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Current Maturities of Long Term Debt |
17.357 |
8.678 |
NA |
|
|
|
|
|
|
TOTAL |
17.357 |
8.678 |
NA |
COMPANY OPERATIONS
The company is engaged in development of technology software products in
Architectural Engineering and Construction space. The company intends to either
supply License to use the product or sell the IP rights of the product or Slump
sale as an on-going business. The company also get engaged with the customers
to provide services on BOT basis by using these products.
OVERALL BUSINESS
SCENARIO
They have achieved significant growth in their revenues in spite of the
global economic slowdown and slow recovery in IT/Software sector and also in
infrastructure and construction industry which is their user industry.
Having seen many success stories of their product implementation in hand
SofTech has drawn a very aggressive business growth plan and seeking growth
funds to expand the operations.
FORM 8
|
Corporate
identity number of the company |
U30107PN1996PTC016718 |
|
Name of the
company |
SOFTTECH ENGINEERS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
The Pentagon Unit
No 5A Near Satara Road, Telephone Exchange Shahu College Road, Parvati,
Pune-411009, Maharashtra, India |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
10390382 |
|
Type of charge |
·
Patent, license under a patent ·
Trademark ·
Copyright or license under a copyright |
|
Particular of
charge holder |
Small Industries Development Bank of India, Jeevan Shree Building
Ground Floor S No.1109, Plot No.488, Ganesh Khind Road, Shivajinagar,
Pune-411005, Maharashtra, India |
|
Nature of
instrument creating charge |
Assignment of the
Company's Intellectual Property Rights including the Trademarks, Patents and
Copyrights as detailed in
Schedule - I of deed of assignment
and, any other intellectual property rights acquired/ owned by the Company in
future in favour of SIDBI during the
currency of the financial assistance. |
|
Date of
instrument Creating the charge |
06.03.2013 |
|
Amount secured by
the charge |
Rs. 70.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest 15.75% p.a presently
with monthly rests, on the principal amount of the PD (Participative Debt)
outstanding from time to time Terms of repayment The PD shall be
repayable in 48 installments (consisting of first 47 installments of Rs.1.459
Millions each and last installment of Rs.1.427 Millions) commencing after 36
months from the date of first disbursement of PD. The date of repayment of PD installments
shall be on 10th of every month. Margin Rs. 26.800
Millions by way of internal accruals. Extent and operation of the charge First charge on
all the IPRs of the products owned by the company, existing and future by way
of assignment of the Company's Intellectual Property Rights including the
Trademarks, Patents and Copyrights
and, any other intellectual property rights acquired/ owned by the
Company along with all the rights/ liberties/ license to use or deal with the
said Intellectual Property Rights |
|
Short particulars
of the property charged (Including location of the property) |
First charge on
all the IPRs of the products owned by the company, existing and future. Assignment of the
Company's Intellectual Property Rights including the Trademarks, Patents and
Copyrights and, any other intellectual
property rights acquired/ owned by the Company along with* *all the rights/
liberties/ license to use or deal with the said Intellectual Property Rights |
|
Particulars of
the present modification |
Assignment of the
Company's Intellectual Property Rights including the Trademarks, Patents and
Copyrights and, any other intellectual
property rights acquired/ owned by the Company in future in favour of SIDBI during the currency of
the financial assistance. |
FIXED ASSETS
·
Furniture and Fixtures
·
Vehicles
·
Office Equipments
·
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 : |
SVA |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.