MIRA
INFORM REPORT
|
Report Date : |
30.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
AMWAY INDIA ENTERPRISES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
First Floor, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
03.08.1995 |
|
|
|
|
Com. Reg. No.: |
55-071405 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.213.900 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1995ULT071405 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELA12367F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACA5603Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the direct selling business and primarily deals
in products relating to home care, personal care, nutritional and wellness,
service income and others. |
|
|
|
|
No. of Employees
: |
13000 (Approximately) |
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 8072000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Trade relations are fair. Business is active. Payment terms are
usually correct. 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.
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
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
First Floor, Elegance Tower Plot No. 8, Non Hierarchical Commercial
Centre Jasola, New Delhi – 110025, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
Plot No. 84, Sector – 32, Gurgaon – 122001, Haryana, India |
|
Tel. No.: |
91-124-3058888 |
|
Fax No.: |
91-124-3058899 |
|
|
|
|
Regional Office: |
Ground Floor, Natraj M V Road, Western Express Highway, Andheri (E),
Mumbai – 400069, India |
|
|
|
|
Corporate Office : |
9th Floor, Tower A and B, |
DIRECTORS
As on: 30.11.2012
|
Name : |
William Scott Pinckney |
|
Designation : |
Managing Director |
|
Address : |
K 207, Sanik Farms, New Delhi – 110062, India |
|
Date of Birth/Age : |
03.11.1948 |
|
Date of Appointment : |
01.06.1998 |
|
DIN No. : |
00017347 |
|
|
|
|
Name : |
Mr. Anshu Budhraja |
|
Designation : |
Director |
|
Address : |
House No. 10 A, Paschim Marg, DLF Phase – 1, Gurgaon – 122001, Delhi,
India |
|
Date of Birth/Age : |
08.01.1971 |
|
Date of Appointment : |
30.03.2009 |
|
DIN No. : |
01961019 |
|
|
|
|
Name : |
Mr. Thomas J Glashower |
|
Designation : |
Director |
|
Address : |
7425, Sleepy Hollow, Dr. Hudsonville, Michigan – 494269162, USA |
|
Date of Birth/Age : |
31.08.1966 |
|
Date of Appointment : |
15.12.2008 |
|
DIN No. : |
02526884 |
|
|
|
|
Name : |
Mr. Sanjay Malhotra |
|
Designation : |
Alternate director |
|
Address : |
A 145, Sector 15, Noida – 201301, Uttar Pradesh, India |
|
Date of Birth/Age : |
22.02.1970 |
|
Date of Appointment : |
08.09.2009 |
|
DIN No. : |
02782091 |
|
|
|
|
Name : |
Cheon Kim |
|
Designation : |
Director |
|
Address : |
4664, Lamplight LN SE Apartment, H8, Kentwood, Michigan – 495466389,
USA |
|
Date of Birth/Age : |
20.01.1964 |
|
Date of Appointment : |
27.08.2012 |
|
DIN No. : |
06381500 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.11.2012
|
Names of Shareholders |
No. of Shares |
|
Amway Mauritius
Investment Company, Mauritius |
10696441 |
|
Amway Mauritius Development Company, Mauritius |
10696441 |
|
|
|
|
Total |
21392882 |
As on: 30.11.2012
Equity Share Break up (Percentage of Total Equity)
|
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 |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the direct selling business and primarily deals
in products relating to home care, personal care, nutritional and wellness,
service income and others. |
||||||||
|
|
|
||||||||
|
Products : (31.03.2011) |
|
GENERAL INFORMATION
|
No. of Employees : |
13000 (Approximately) |
|
|
|
|
Bankers : |
Not Available |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.R. Batliboi and Company Chartered Accountants |
|
Address : |
7th Floor Himalaya House 23, Kasturba Gandhi Marg, New Delhi
– 110001, India |
|
PAN No. : |
AALFS0506L |
|
|
|
|
Ultimate Holding Company : |
Ø Alticor Global
Holdings Inc., USA |
|
|
|
|
Companies having substantial interest in voting
power and power to direct policies : |
Ø Solstice
Holdings Inc., USA Ø Alticor Inc.,
USA Ø Amway
International Inc., USA (formerly Amway Corp.) Ø Amway Foreign
Investment Co., USA Ø Amway India
Development LLC, USA Ø Amway India
Investment LLC, USA Ø Amway Nederland
Limited, USA Ø Amway Foreign
Development LLC, USA |
|
|
|
|
Principal Shareholders : |
Ø Amway Mauritius
Investment Company, Mauritius Ø Amway Mauritius
Development Company, Mauritius |
|
|
|
|
Subsidiary companies : |
Ø Amserve
Consultants Limited Ø Amsure Insurance
Agency Limited |
|
|
|
|
Related parties and nature of the related party
relationship with whom transactions have taken place : |
Subsidiary companies Ø Amserve
Consultants Limited CIN No.
U74140DL2004PLC127936 Ø Amsure Insurance
Agency Limited CIN No.
U67200DL2004PLC127937 Others Ø Amway
Opportunity Foundation Ø Amway India
Enterprises Employees Provident Fund Ø Amway India
Enterprises Employees Superannuation Fund Ø Amway India
Enterprises Employees Gratuity Fund Principal Shareholders Ø Amway Mauritius
Investment Company, Mauritius Ø Amway Mauritius
Development Company, Mauritius |
|
|
|
|
Companies having substantial interest in voting
power and power to direct policies : |
Ø Alticor Inc.,
USA Ø Amway
International Inc., USA (formerly Amway Corp.) |
|
|
|
|
Fellow
Subsidiaries : |
Ø Access Business
Group International, LLC |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
21392882 |
Equity Shares |
Rs.10/- each |
Rs.213.900 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 |
|
213.900 |
213.900 |
|
(b) Reserves & Surplus |
|
1804.200 |
1447.000 |
|
(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) |
|
2018.100 |
1660.900 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
46.700 |
28.200 |
|
(d) long-term provisions |
|
76.600 |
201.600 |
|
Total Non-current Liabilities (3) |
|
123.300 |
229.800 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
0.000 |
|
(b) Trade payables |
|
1849.000 |
2033.000 |
|
(c) Other current liabilities |
|
888.100 |
977.000 |
|
(d) Short-term provisions |
|
2643.700 |
1990.700 |
|
Total Current Liabilities (4) |
|
5380.800 |
5000.700 |
|
|
|
|
|
|
TOTAL |
|
7522.200 |
6891.400 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
242.900 |
206.100 |
|
(ii) Intangible Assets |
|
63.400 |
40.600 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
101.100 |
1.100 |
|
(c) Deferred tax assets (net) |
|
498.200 |
495.400 |
|
(d) Long-term Loan and Advances |
|
126.800 |
105.400 |
|
(e) Other Non-current assets |
|
2.700 |
1.700 |
|
Total Non-Current Assets |
|
1035.100 |
850.300 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
554.700 |
545.600 |
|
(b) Inventories |
|
1630.600 |
1735.600 |
|
(c) Trade receivables |
|
79.500 |
159.500 |
|
(d) Cash and cash
equivalents |
|
3739.800 |
3120.800 |
|
(e) Short-term loans and
advances |
|
469.800 |
470.200 |
|
(f) Other current assets |
|
12.700 |
9.400 |
|
Total Current Assets |
|
6487.100 |
6041.100 |
|
|
|
|
|
|
TOTAL |
|
7522.200 |
6891.400 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
213.929 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
1153.024 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
1366.953 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1366.953 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
212.266 |
|
|
Capital work-in-progress |
|
|
8.651 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
422.706 |
|
|
DEFERREX TAX ASSETS |
|
|
421.873 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
1008.081 |
|
|
Sundry Debtors |
|
|
490.601 |
|
|
Cash & Bank Balances |
|
|
2325.382 |
|
|
Other Current Assets |
|
|
2.845 |
|
|
Loans & Advances |
|
|
568.333 |
|
Total
Current Assets |
|
|
4395.242 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
1450.414 |
|
|
Other Current Liabilities |
|
|
895.769 |
|
|
Provisions |
|
|
1747.602 |
|
Total
Current Liabilities |
|
|
4093.785 |
|
|
Net Current Assets |
|
|
301.457 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1366.953 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
1838.000 |
14741.300 |
|
|
|
Other Income |
|
|
NA |
|
|
|
TOTAL |
|
|
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
|
|
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
|
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Traded Goods |
|
|
268.166 |
|
|
TOTAL IMPORTS |
|
|
268.166 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.20
|
1.21 |
1.07 |
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 |
No |
|
10] |
Designation
of contact person |
No |
|
11] |
Turnover of
firm for last two years |
Yes |
|
12] |
Profitability
for last three years |
No |
|
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 |
Yes |
|
23] |
Banking
Details |
No |
|
24] |
Banking
facility details |
No |
|
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 |
NOTE:
The registered office of the company has been shifted from Plot No.5, DDA Local Shopping Centre, Okhla Commercial Centre, Phase-II, New Delhi – 110 020 to the present address w.e.f. 01.07.2010.
Profile
|
Client Industry |
FMCG |
|
Client's
discipline |
-- |
General
|
The growth of
the client's industry is best described as: |
Growing |
|
Brief description
of the services and/or goods the client provides to the marketplace: |
Direct selling
products relating to home care personal care, nutritional wellness |
|
What is the
legal structure of the client? |
-- |
|
What type of
company is the client? |
private |
Credit Rating
|
Client's debt
tracked by a credit rating agency? |
No |
|
Name of credit
rating agency: |
-- |
|
Credit rating
class provided by credit rating agency: |
-- |
|
Client credit
rating: |
-- |
|
Report on credit
worthiness of client purchased from: |
Not obtained |
Client Financials
|
Does the client
have a credit facility? |
Yes |
|
Do you have
financial information on this client? |
Yes |
|
Credit facility
type: |
Secured/Unsecured |
|
Amount of credit
facility: |
Secured
:Rs.0.000 Millions Unsecured
:Rs.0.000 Millions |
|
Currency of
financial statements/data: |
INR Millions |
|
Annualized
revenues: |
--- |
|
Annualized COGS: |
-- |
|
Annualized
EBITDA: |
|
|
Annualized net
income: |
-- |
|
Cash balance: |
Rs.57.100
Millions |
|
Marketable
Securities balance: |
-- |
|
Accounts
Receivable balance: |
Rs.79.500
Millions |
|
Current Assets
balance: |
Rs.6487.100
Millions |
|
Total assets
balance: |
Rs.7522.200
Millions |
|
Current
Liabilities balance: |
Rs.5380.800 Millions |
|
Long-Term Debt
balance: |
Rs. 0.000
Millions |
|
Equity balance: |
Rs.2018.100
Millions |
|
Net cash
provided by operating activities: |
-- |
|
Date of client's
financial data populated: |
31.03.2012 |
|
Financial information
provided above audited? |
Yes |
LITIGATION:
CITI…..Appellant
Through Mr Sanjeev Rajpal, sr. standing counsel
Versus
AMWAY INDIA ENTERPRISES P LTD..... Respondent
Through Mr. M S Syali, Sr. Adv. with
Mr Mayank Nagi, Adv.
CORAM:
HON'BLE MR. JUSTICE BADAR DURREZ AHMED
HON'BLE MR. JUSTICE R.V.EASWAR
ORDER
06.02.2013
This appeal has already been admitted and the question of law also
stands framed.
List in due course.
Mr. Syali appearing on behalf of the respondent-assessee states that he
would be filing the paper book as filed before the Tribunal during the course
of the day. Copy of the same has been handed over to Mr. Rajpal.
CORPORATE
INFORMATION
The Company is a
private company domiciled in India and incorporated under the provisions of The
Companies Act, 1956. The Company was established in 1995, commenced commercial
operations in May 1998 and has emerged as the largest direct selling Company in
India. It offers a wide-ranging portfolio, consumer healthcare products, beauty
and personal care products and household products. It is a wholly owned
subsidiary of Alticor Global Holdings Inc., Ada, Michigan, USA which is one of
the largest direct selling companies in the world. In addition to this, the
Company provides management consultancy, infrastructure facilities and business
and data processing services
FINANCIAL
PERFORMANCE
The Company now
outsells several mainstreams brands in select segments. The Company has outgrown
many multinationals companies. The expansion of the product basket in the
health and beauty segments and the launch of e learning, a significant step
towards education, knowledge update and productivity enhancement of business
owners, have contributed to robust growth in the current fiscal.
The company
witnessed a growth of 16% over last year. The categories which have grown over
previous year are Nutrition and Wellness by 16%, homecare by 29% and personal
care by 23%.
INDUSTRY OUTLOOK
Direct Selling is
Rs. 33300.000 millions industry that has provided income opportunity to over
1.8 million people in India. Worldwide, this Industry is estimated to be worth
$ 113 billion. Direct Selling is a thriving Rs. 41200.000 millions industry
according to an E and Y report and ICRIER Report with projections to be a Rs.
71200.000 millions industry 2012-13. Overall, the study found that the direct
selling sector is growing at a fast pace and the number of direct sellers are
increasing
INITIATIVES TO
IMPROVE AWARENESS
Amway has been
advertising in the print media and TV Companing throughout the year. The effect
of advertising in visual media is that awareness has increased manifold. Their
TV ad campaigns have definitely enhanced the brand Amway on a national scale.
The expansion of the product basket in health and beauty segment and the launch
of e learning, a significant step towards education, knowledge update and
productivity enhancement of business owners, have contributed to robust growth
in the current fiscal.
Nutrilite Protein
Recipe contest was held across India for Amway Business Owners.
SUBSIDIARIES
The subsidiaries
are doing extremely well and business has grown over previous years. Insurance business
has witnessed a growth in India and both Amsure and Amserve are riding on the
boom.
Amsure Insurance Agency Limited (Amsure)
Amsure was
incorporated in July 2004 to take up the corporate agency in the field of life
insurance. Amsure is a corporate agent for Max Life Insurance Company Limited.
It commenced operations from the 17th October, 2005.
Amserve Consultants Limited (Amserve)
Amserve was
incorporated in July 2004 to provide back office and consultancy services in
the field of Insurance. Amserve provide back office support to Max Life
Insurance Company Limited. It commenced operations from the 17th
October, 2005.
FIXED ASSETS:
Ø
Leasehold Improvements
Ø
Plant and Machinery
Ø
Equipment and Appliances
Ø
Moulds, Jigs and Dies
Ø
Vehicles
Ø
Furniture and Fixtures
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.67.71 |
|
|
1 |
Rs.105.14 |
|
Euro |
1 |
Rs.90.03 |
INFORMATION DETAILS
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.