MIRA INFORM REPORT
|
Report Date : |
23.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
T D W INDIA LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 16, Phase – lll, Alindra Savli GIDC, Opposite Overhead Tank,
Savli, District, Vadodara – 391775, Gujarat
|
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2011 |
|
|
|
|
Date of
Incorporation : |
03.11.1992 |
|
|
|
|
Com. Reg. No.: |
04-039396 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.3.176
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29246GJ1992PLC039396 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDT00229F |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
The company’s primary business segment comprises:-
|
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1100000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary company of “T.D. Williamson INC”. It is an
established company having moderate track record. Management has failed to file its latest financials with the
government department. As per the available financials of 2011, the company has incurred a
hefty loss from its operations. However, trade relations are fair. Business is active. Payment terms
are unknown. The company can be considered for business dealings with some caution.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
We are living in a
world where volatility and uncertainty have become the New Normal. We saw
a change of government in countries like Tunisia, Egypt, Libya and Vietnam.
Once powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in
agriculture, industry and services. Dampening sentiment led to a cut-back in
investment as well as private consumption expenditure. Inflation remained
at high levels fuelled by the pressure from the food and fuel sectors. The
large fiscal and current account deficit s continued to cause grave concern. It
is imperative that India regains its growth trajectory of 8-9 % sooner than
later. This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (EMPLOYEE PROVIDENT FUND) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DENIED
Management Non Cooperative. (91-2667-619900)
LOCATIONS
|
Registered Office : |
Plot No. 16, Phase – lll, Alindra Savli GIDC, Opposite Overhead Tank,
Savli, District- Vadodara – 391775, Gujarat, India |
|
Tel. No.: |
91-2667-619900 |
|
Fax No.: |
91-2667-619501 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on: 29.06.2012
|
Name : |
Mr. Robert Doyle Mcgrew |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
20.07.1962 |
|
Date of Appointment : |
03.04.2006 |
|
DIN No.: |
00065381 |
|
|
|
|
Name : |
Mr. Daniel Binkly Bruce |
|
Designation : |
Director |
|
Address : |
216, |
|
Date of Birth/Age : |
04.11.1957 |
|
Date of Appointment : |
18.06.1996 |
|
DIN No.: |
01339441 |
|
|
|
|
Name : |
Mr. Robert Allen Johnson |
|
Designation : |
Director |
|
Address : |
11002, South Toledo, |
|
Date of Birth/Age : |
09.11.1948 |
|
Date of Appointment : |
20.08.1999 |
|
DIN No.: |
01339510 |
|
|
|
|
Name : |
Mr. Anjeev Pandey |
|
Designation : |
Director |
|
Address : |
B 11, Shruti Bunglow, Vasna Bayli Road, Vadodara – 390015, Gujarat,
India |
|
Date of Birth/Age : |
29.03.1971 |
|
Date of Appointment : |
01.06.2012 |
|
DIN No.: |
01799059 |
|
|
|
|
Name : |
Mr. Samyak Sahani |
|
Designation : |
Additional Director |
|
Address : |
5A, Pragati Nagar Society, Near Arunachal Society, Subhanpura,
Vadodara – 390023, |
|
Date of Birth/Age : |
11.09.1974 |
|
Date of Appointment : |
01.06.2010 |
|
DIN No.: |
03153922 |
|
|
|
|
Name : |
Mr. Robert Morris |
|
Designation : |
Director |
|
Address : |
4, Tech Park Crescent, Singapore – 638128, USA |
|
Date of Birth/Age : |
10.09.1970 |
|
Date of Appointment : |
09.01.2010 |
|
DIN No.: |
02316017 |
|
|
|
|
Name : |
Rathina Gunavel Rathunam |
|
Designation : |
Director |
|
Address : |
9, |
|
Date of Birth/Age : |
25.09.1965 |
|
Date of Appointment : |
01.05.2002 |
|
DIN No.: |
01688069 |
|
|
|
|
Name : |
Mr. Rameshchandra Pandharinath Medhekar |
|
Designation : |
Alternate Director for Mr. Daniel Binkly Bruce |
|
Address : |
4, |
|
Date of Birth/Age : |
16.02.1933 |
|
Date of Appointment : |
20.08.1999 |
|
DIN No.: |
01685366 |
|
|
|
|
Name : |
Dixit Babulal Kadakia |
|
Designation : |
Additional Director |
|
Address : |
|
|
Date of Birth/Age : |
01.04.1955 |
|
Date of Appointment : |
29.06.2010 |
|
DIN No.: |
02447007 |
MAJOR SHAREHOLDERS
As on: 29.06.2012
|
Names of Shareholders |
|
No. of Shares |
|
T D Williamson INC |
|
317493 |
|
Richard Brooks Williamson |
|
2 |
|
Rathina Gunavel Rathinam |
|
10 |
|
Samyak Sahani |
|
10 |
|
Robert Allen Johnson |
|
1 |
|
Robert Morris |
|
4 |
|
Dixit Babulal Kadakia |
|
20 |
|
Vasant Patel |
|
10 |
|
Mayurprabhu Melanaturu |
|
10 |
|
Easo George |
|
10 |
|
Total |
|
317570 |
As on: 03.04.2013
|
Names of Allottees |
|
No. of Shares |
|
T D Williamson INC |
|
2922080 |
|
Total |
|
2922080 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.06.2012
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
99.98 |
|
Directors or relatives of Directors |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
|
PRODUCTION STATUS AS ON 31.12.2010
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Launcher and Receiver |
Nos.* |
200 |
150 |
11 |
|
Closures |
Nos. |
1200 |
100 |
484 |
|
Hot Tap Fittings |
Nos. |
400 |
300 |
165 |
|
Pig Signaller |
Nos. |
1200 |
1000 |
78 |
|
Jib Crane |
Nos. |
300 |
200 |
-- |
|
Foam Pig |
Nos. |
100 |
100 |
-- |
*As certified by the management and relied
upon by the auditors.
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
|||||||||
|
|
|
|||||||||
|
Bankers : |
Not Available |
|||||||||
|
|
|
|||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R.K. Kinra and Company Chartered Accountants |
|
Address : |
10/29, West Patel Nagar, IIIrd Floor, New Delhi - 110008, India |
|
Tel. No.: |
91-11-42488012/ 25881644 |
|
PAN No.: |
ACTPP2402L |
|
|
|
|
Holding Company: |
T D Williamson INC |
|
|
|
|
Sister Company: |
|
CAPITAL STRUCTURE
After 29.06.2012
Authorised Capital : Rs.500.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.129.396
Millions
As on: 31.12.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1190000 |
Equity Shares |
Rs.10/- each |
Rs.11.900 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
317570 |
Equity Shares |
Rs.10/- each |
Rs.3.176
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
3.176 |
3.176 |
3.176 |
|
|
2] Share Application Money |
42.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
244.314 |
336.348 |
351.406 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
289.490 |
339.524 |
354.582 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
301.900 |
145.200 |
0.000 |
|
|
TOTAL BORROWING |
301.900 |
145.200 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
(17.580) |
2.319 |
2.319 |
|
|
|
|
|
|
|
|
TOTAL |
573.810 |
487.043 |
356.901 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
309.322 |
305.737 |
136.596 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
123.957
|
49.175 |
31.680
|
|
|
Sundry Debtors |
216.252
|
148.929 |
106.413
|
|
|
Cash & Bank Balances |
108.453
|
71.935 |
106.547
|
|
|
Other Current Assets |
74.907
|
68.308 |
30.477
|
|
|
Loans & Advances |
2.524
|
1.849 |
1.046
|
|
Total
Current Assets |
526.093
|
340.196 |
276.163 |
|
|
Less : CURRENT LIABILITIES
& PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
229.417
|
117.341 |
44.117
|
|
|
Other Current Liabilities |
13.705
|
24.739 |
7.237
|
|
|
Provisions |
18.483
|
16.810 |
4.504
|
|
Total
Current Liabilities |
261.605
|
158.890 |
55.858 |
|
|
Net Current Assets |
264.488
|
181.306 |
220.305
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
573.810 |
487.043 |
356.901 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Commission Sales |
201.102 |
180.489 |
249.250 |
|
|
|
Job Work Earnings |
155.644 |
201.497 |
150.413 |
|
|
|
Other Income |
34.336 |
0.000 |
0.000 |
|
|
|
Interest Received |
3.689 |
6.361 |
11.713 |
|
|
|
TOTAL (A) |
394.771 |
388.347 |
411.376 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
125.232 |
9239.266 |
229.774 |
|
|
|
Staff Cost |
89.081 |
1059.893 |
|
|
|
|
Other Expenses |
220.115 |
1164.462 |
|
|
|
|
TOTAL (B) |
434.428 |
11463.621 |
229.774 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(39.668) |
24.726 |
181.602 |
|
|
|
|
|
|
|
|
|
|
FINANCIAL
EXPENSES (D) |
28.400 |
6.134 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(68.068) |
18.592 |
181.602 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION (F) |
40.104 |
17.265 |
7.505 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(108.172) |
1.327 |
174.097 |
|
|
|
|
|
|
|
|
|
|
TAX (H) |
3.760 |
0.398 |
58.755 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(111.932) |
0.929 |
115.342 |
|
|
|
|
|
|
|
|
|
|
PROVISION FOR
DEFERRED TAX |
19.898 |
0.000 |
0.395 |
|
|
|
|
|
|
|
|
|
|
EXCESS TAX
PROVISION WRITTEN BACK |
0.000 |
(15.987) |
16.417 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
334.517 |
349.575 |
217.816 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
242.483 |
334.516 |
349.575 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
242.483 |
334.517 |
349.575 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
64.096 |
40.235 |
19.371 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(352.46) |
2.93 |
363.20 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
PAT / Total Income |
(%) |
(28.35)
|
0.24 |
28.04
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(53.79)
|
0.74 |
69.85
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(12.95)
|
0.21 |
42.18
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.37
|
0.00 |
0.49
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.04
|
0.43 |
0.00
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.01
|
2.14 |
4.94
|
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT
MATURITIES OF LONG-TERM DEBT: NOT AVAILABLE
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
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 |
---------------------- |
|
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 |
No |
ECONOMIC SCENARIO:
Global growth is projected to drop from about 4 percent in 2011 to about 31/a percent in 2012 because of weak activity during the second half of 2011 and the first half of 2012. Real GDP growth in the emerging and developing economies is projected to slow from 6Va percent in 2011 to 5% percent in 2012 but then to reaccelerate to 6 percent in 2013,
For India IMF expects real GDP to grow 6% percent in 2011/12, rising to 7 percent in 2012/13. Higher interest rates and lower external demand, policy uncertainty and supply bottlenecks are playing a role and will need to be tackled in the near term to ensure that potential growth does not decline.
COMPANY PERFORMANCE:
The Company has suffered a loss of Rs. 111.932 Millions compared to Profit after tax of INR 0.929 Millions in the previous year.
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY.
FIXED ASSETS:
- Electrical
Fittings
- Furniture and
Fixtures
- Computer
- Plant and
Machinery
- Office
Equipment
- Vehicle
AS PER WEBSITE DETAILS
PRESS RELEASES:
T.D. Williamson, Inc.
Opens Additional Facility in India
Posted on 10/21/2010
PIPELINE SPECIALIST
POISED TO EXPAND MARKETS IN INDIA AND MIDDLE EAST WITH NEW
ENGINEERING AND MANUFACTURING CENTER
VADODARA, India -- October 21, 2010 -- T.D. Williamson, Inc. (TDW), a
leading supplier of pipeline equipment and services, announced the opening
of a 7,500 square meter Engineering and Manufacturing Center in Savli near
Vadodara, India, as part of its continuing commitment to the Indian
pipeline and petroleum processing market.
The facility, officially opened by TDW President and CEO Bruce Binkley on
September 20th, is located in the Savli Industrial Park. It will enable
local manufacturing of pipeline pig launchers and receivers, quick-opening
closures, pig passage indicators, hot tapping and plugging fittings and
repair clamps. The new plant will significantly expand the company’s ability to
handle large projects, reducing delivery time while adhering to strict
health, safety and environmental standards.
The Savli plant is the third major engineering and manufacturing facility that
TDW has opened, in addition to bases in Tulsa and Nivelles. TDW has
maintained a service facility in India since 1992. TDW India believes that
the new facility will help the firm cater to the domestic market,
while providing significant cost advantages to its customers in a region
extending from India to the Middle East and down to Australia.
TDW’S LONG AND
IMPRESSIVE INVOLVEMENT IN INDIA
TDW has an impressive record of successful projects in the region during the
past 15 years. “We have had a long history of involvement in the Indian
petroleum and pipeline market,” said Binkley. “For that reason, we are
extremely pleased to be able to cement that relationship by building this
exceptional new facility,” he added.
Recent examples of TDW operations in India include use of its SmartPlug®
isolation tool to facilitate an emergency subsea valve change out; use of
its STOPPLE® plugging technology at Mumbai International Airport to assist
re-routing of pipelines in advance of terminal expansion; application of
RES-Q® composite wrap to rehabilitate an elevated 150-meter pipeline in
difficultconditions; and completion of multiple inline inspection projects
using local tools, technicians and data analysis.
TDW POISED TO TAKE PART IN MAJOR
EXPANSION OF INDIA’S PIPELINE NETWORK
According to Robert Morris, Director – Far East Asia Pacific for TDW, the new
plant demonstrates TDW’s faith in the vitality of the Indian market and in
the vibrancy of its economy generally. “India’s pipeline network, which
presently measures around 25,000 km, is expected to double during the next
three or four years as gas finds and the expansion of the energy market
drive growth of the pipeline network,” said Morris. “While the pipeline
density in India is low compared to the rest of the developed world, this
will not remain the case for long. The establishment of this new facility
means that TDW is perfectly poised to take part in the massive expansion
of the network that will soon take place,” he added.
In addition to the manufacturing capacity, the new facility will also house a
hot tapping and plugging service center and inline inspection group, as
well as an expanded engineering staff to support growth initiatives in the
region. Both ISO 9000 certification and ASME approval are planned for the
facility.
NEW PLANT TO FACILITATE INTRODUCTION OF
NEW SERVICES
The new plant, which will generate 200 new jobs, will enable the wider
introduction of services such as the STOPPLE® Train plugging system and
SmartPlug® pressure isolation technology. Clients will further benefit
from the company’s new PIG-SIG® NIxt non-intrusive pig passage indicator,
Spiral Magnetic Flux Leakage (SMFL) inspection technology,
and LOCK-O-RING® Plus fittings.
The facility will also act as an engineering and IT hub for TDW globally, as IT
professionals hired in India will also support work at existing centers in
Belgium and the United States.
TDW has always been a keen investor in the communities it serves, above and
beyond the pipeline industry. The firm’s involvement in Vadodara is no
exception. For example, TDW India’s Community Relations Committee recently
provided two schools with upgraded equipment and supplies to support the
educational needs of Gujarat children.
Clearly, with the opening of the Savli facility and the expansion of its
product and service lines, TDW India is poised to contribute to - and enhance
- the nation’s bright future.
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 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.65.42 |
|
|
1 |
Rs.102.09 |
|
Euro |
1 |
Rs.87.31 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Report Prepared
by : |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
31 |
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.