|
Report Date : |
24.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
C A GALIAKOTWALA AND COMPANY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
125, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
14.12.1939 |
|
|
|
|
Com. Reg. No.: |
11-003046 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 2.400 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51900MH1939PTC003046 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC10333B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACC2925K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Trader, Exporter and Importer of Cotton Bales. |
|
|
|
|
No. of Employees
: |
20 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 640000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Unknown |
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|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is an old and established company having a moderate track
record. The management of the company has failed to file its financials with
the government department for the year 2012. As per previous year’s record, the company is found normal for business
dealings. Trade relations are reported as fair. Business is active. Payment
terms are unknown in absence of latest financials. The company can be considered for business dealings with some
cautions. |
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.
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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Dipan Chokshi |
|
Designation : |
Accountant |
|
Contact No.: |
91-22-22843758 |
|
Date : |
16.04.2013 |
LOCATIONS
|
Registered Office : |
125, |
|
Tel. No.: |
91-22-22843758 |
|
Fax No.: |
91-22-22048801 |
|
E-Mail : |
|
|
Location: |
Owned |
|
|
|
|
Administrative Office : |
66, Maker Chambers, Nariman Point, Mumbai – 400021, |
|
Tel. No.: |
91-22-22843758/ 22843772 |
|
Fax No.: |
91-22-22048801 |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Harshad Chhotalal Sheth |
|
Designation : |
Director |
|
Address : |
7-B, Geetanjali Co-Operative Housing Society, Navroji Gamadia Cross
Road, Off Peddar Road, Mumbai – 400026, Maharashtra, India |
|
Date of Birth/Age : |
10.03.1942 |
|
Date of Appointment : |
29.08.1969 |
|
DIN No.: |
|
|
|
|
|
Name : |
Mr. Mahnedra Chhotalal Sheth |
|
Designation : |
Director |
|
Address : |
51, Shivtrirth No.1, |
|
Date of Birth/Age : |
22.12.1948 |
|
Date of Appointment : |
07.03.1986 |
|
DIN No.: |
00056975 |
|
|
|
|
Name : |
Mr. Dhiren Narendra Sheth |
|
Designation : |
Director |
|
Address : |
101, Khatau House, 15-A, |
|
Date of Birth/Age : |
03.12.1967 |
|
Date of Appointment : |
01.02.1992 |
|
DIN No.: |
00300136 |
|
|
|
|
Name : |
Mr. Manish Narendra Sheth |
|
Designation : |
Director |
|
Address : |
101, Khatau House, 15-A, |
|
Date of Birth/Age : |
25.05.1969 |
|
Date of Appointment : |
01.08.1994 |
|
DIN No.: |
00300201 |
MAJOR SHAREHOLDERS
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Narendra Chhotalal Sheth |
3808 |
|
Harshad Chhotalal Sheth |
2352 |
|
Bakulesh Sheth |
1696 |
|
Mahnedra Chhotalal Sheth |
2144 |
|
Bhanumati Sheth |
384 |
|
Usha Sheth |
1264 |
|
Rekha Sheth |
928 |
|
Harsha Sheth |
608 |
|
Kanan Sheth |
160 |
|
Sandip Sheth |
1488 |
|
Manish Sheth |
1216 |
|
Dhiren Sheth |
1328 |
|
Sushant Sheth |
704 |
|
N. C. Sheth HUF |
640 |
|
H. C. Sheth HUF |
1040 |
|
B. C. Sheth HUF |
1040 |
|
M. C. Sheth HUF |
704 |
|
Galiakot Containers Limited, |
320 |
|
Bhanumati A Sheth |
1856 |
|
C. J. Sheth HUF |
320 |
|
TOTAL
|
24000 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Bodies corporate |
1.33 |
|
Directors or relatives of Directors |
98.67 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader, Exporter and Importer of Cotton Bales. |
GENERAL INFORMATION
|
No. of Employees : |
20 (Approximately) |
|||||||||||||||
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|
|||||||||||||||
|
Bankers : |
·
Bank of India, Mumbai Overseas Branch, 70-80, M G
Road, Mezzanine Floor, Fort, Mumbai-400001, Maharashtra, India ·
Union Bank of India, Mumbai Samachar Marg Branch,
66/80, Fort, Mumbai-400023, Maharashtra, India ·
State Bank of India ·
American Express Bank ·
ABN Amro Bank N. V. |
|||||||||||||||
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|
|
|||||||||||||||
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
A. W. Ketkar and Company Chartered Accountants |
|
Address : |
4, Soukhya, V. N. Purav Marg, Chunabhatti, Mumbai – 400022,
Maharashtra, India |
|
PAN No.: |
AAFPK2543M |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000 |
Equity Shares |
Rs.100/- each |
Rs. 2.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24000 |
Equity Shares |
Rs.100/- each |
Rs. 2.400 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF
FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2.400 |
2.400 |
2.400 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
159.985 |
156.019 |
155.811 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
162.385 |
158.419 |
158.211 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
125.177 |
91.538 |
67.815 |
|
|
2] Unsecured Loans |
0.923 |
0.908 |
0.913 |
|
|
TOTAL BORROWING |
126.100 |
92.446 |
68.728 |
|
|
DEFERRED TAX LIABILITIES |
0.478 |
0.518 |
0.588 |
|
|
|
|
|
|
|
|
TOTAL |
288.963 |
251.383 |
227.527 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
9.622 |
10.270 |
11.144 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
27.281 |
13.653 |
34.093 |
|
|
DEFERREX TAX ASSETS |
0.037 |
0.003 |
0.087 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
408.645
|
182.638
|
98.569
|
|
|
Sundry Debtors |
47.573
|
128.638
|
89.021
|
|
|
Cash & Bank Balances |
2.849
|
3.997
|
30.247
|
|
|
Other Current Assets |
209.444
|
203.867
|
203.648
|
|
|
Loans & Advances |
0.141
|
0.166
|
0.111
|
|
Total
Current Assets |
668.652
|
519.306 |
421.596 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
22.609
|
27.445
|
70.842
|
|
|
Other Current Liabilities |
302.747
|
175.360
|
80.303
|
|
|
Provisions |
91.273
|
89.044
|
88.248
|
|
Total
Current Liabilities |
416.629
|
291.849 |
239.393 |
|
|
Net Current Assets |
252.023
|
227.457
|
182.203
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
288.963 |
251.383 |
227.527 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
NA |
NA |
NA |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
7.015 |
3.529 |
4.749 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.894 |
1.107 |
1.105 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
6.121 |
2.422 |
3.644 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.810 |
1.795 |
1.775 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
4.311 |
0.627 |
1.869 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.738 |
0.530 |
0.047 |
|
|
|
|
|
|
|
|
|
|
PROVISION FOR
DEFERRED TAX EXCESS PROVISION FOR INCOME TAX |
0.074 |
0.000 |
0.018 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
0.360 |
0.360 |
1.200 |
|
|
|
Dividend Tax |
0.058 |
0.059 |
0.204 |
|
|
|
Transfer to General Reserve |
0.629 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
4.076 |
0.738 |
0.530 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Sale of Cotton |
689.179 |
189.188 |
NA |
|
|
|
Import Commission Received |
19.345 |
22.910 |
NA |
|
|
TOTAL EARNINGS |
708.524 |
212.098 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
179.63 |
77.88 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.90
|
0.46
|
0.84
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
0.02
|
0.02
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.78
|
0.58
|
0.43
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.60
|
1.78
|
1.76
|
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
No |
|
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) |
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 |
FORM 8
|
Corporate
identity number of the company |
U51900MH1939PTC003046 |
|
Name of the
company |
C A GALIAKOTWALA
AND COMPANY PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
125, |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10288347 |
|
Type of charge |
Book Debts Movable Property |
|
Particular of
charge holder |
Union Bank of India Mumbai Samachar Marg Branch, 66//80, Mumbai Samachar Marg, Fort, Mumbai
– 400023, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
Composite
Hypothecation Deed |
|
Date of
instrument Creating the charge |
27.04.2011 |
|
Amount secured by
the charge |
Rs.451.700
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest as
stated in the Composite Hypothecation Deed Terms of Repayment On Demand Margin Nature of
Facility
Margin Import LC (DP/DA)
................... 10%+15% Letter of
Guarantee ................... 20% Cash Credit
(HYP.) .................... 25% (MILL GIN Stores) Packing
Credit
........................... 5% W/W Cash Credit
(Stock / .......... 25% Book Debts) Extent and Operation of the charge To secure an
aggregate amount of Rs.451.700 Millions granted by the bank as under :- Import LC (DP/DA)
: Rs.60.000 Millions Letter of
Guarantee : Rs.20.000 Millions Cash Credit
(Hypothecation) (Mill Gin Stores) :
Rs.1.200 Millions DBP / UDBP : Rs. 10.000 Millions CP / WAE : Rs. 0.500 Millions Packing Credit :
Rs. 280.000 Millions w/w Cash Credit (Stock / Book Debts) : (Rs.50.000
Millions) FDBP / FUDBP
(Under L/C Sight and/or 90 Days DA) : Rs.80.000 Millions w/w FDBP / FUDBP
(Under Conf. Contract) : (Rs.50.000 Millions) |
|
Short particulars
of the property charged |
The borrower
hypothecates by way of first charge in favour of the bank :- 1) the whole of
the borrower's movable goods and assets both present and future including all
stocks of raw materials, work in progress, semi finished and finished goods such as cotton, cotton
waste, cotton fabrics, almonds, etc. packing materials, consumable stores and
spares etc. situate at Bhatinda, Hissar, Ganganagar, Ahmedabad, Rajkot, Akda, Aurangabad,
Parbhani, Indore, Adilabad, Guntur, Hubli, Madurai, Mumbai or in the Godowns
of the borrower or in course of transit or wherever else the same may be 2) All the
present and future book debts, outstanding, monies receivable, claims, bills,
contracts, engagements and securities which are due and owing to the borrower
in the course of its business by any person, firm, company or body corporate
or by the Government of India or any state government or Indian Railways or
any government department or office or any municipal or local or (public or
semi government body or authority whatsoever including those relating to the
assets leased out and/or given on hire purchase. |
|
Particulars of the present modification |
The Total Limit
has enhanced from Rs.316.700 Millions to Rs.451.700 Millions. |
FIXED ASSETS
·
Land and Building
·
Office Premises and Godown
·
Office Equipment and Machinery
·
Furniture
·
Vehicles
·
Computers
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. 64.69 |
|
|
1 |
Rs. 100.80 |
|
Euro |
1 |
Rs. 86.30 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Report Prepared
by : |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
34 |
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.