MIRA
INFORM REPORT
|
Report Date : |
07.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
SWAN SILK PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Swan House, No.40, 4th Cross, Residency Road, Bangalore – 560025,
Karnataka |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
08.07.1986 |
|
|
|
|
Com. Reg. No.: |
08-007683 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.64.715 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17112KA1986PTC007683 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRS00557E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCS4515R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and exporting of silk fabrics, madeups and others. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
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 part of KVN group. It is an established company having
moderate track record. The rating reflects weak financial risk profile, marked by weak debt
protection metric and geographic concentration in its revenue profile. However, the company has achieved fair profit margin during the
financial year 2013. Trade relations are reported to be fair. Business is active. Payment
terms are slow but correct. The company can be considered for business dealing with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The
report says that the adverse effects of rupee depreciation are likely to be
offset by the gains in the exports performance due to improved external
competitiveness. Since May this year, the local currency has depreciated
substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act replaces
a 119 year old registration. The Securities and Exchange Board of India has
approved the trading of currency futures on the Bombay Stock Exchange. The
exchange plans to launch the currency futures platform with advanced trading
technology by the end of November.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: BB- |
|
Rating Explanation |
Moderate risk of default regarding timely servicing and higher credit
risk. |
|
Date |
15.02.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: A4 |
|
Rating Explanation |
Minimal degree of safety very high credit risk. |
|
Date |
15.02.2013 |
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 : |
Swan House, No.40, 4th Cross, Residency Road, Bangalore – 560025,
Karnataka, India |
|
Tel. No.: |
91-80-41888298 |
|
Fax No.: |
91-80-25598300 |
|
E-Mail : |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Govindsa Kabadi Sundarsa |
|
Designation : |
Managing director |
|
Address : |
79, 9th Main, 8th Cross, R M V Extension Sadas
Hivanagar, Bangalore – 560080, Karnataka, India |
|
Date of Birth/Age : |
07.05.1946 |
|
Date of Appointment : |
09.03.1987 |
|
DIN No.: |
01657510 |
|
|
|
|
Name : |
Mr. Manjunath Kabadi Sundarsa |
|
Designation : |
Director |
|
Address : |
81, Railway Parallel Road, Kumarapark West, Bangalore – 560020,
Karnataka, India |
|
Date of Birth/Age : |
08.06.1961 |
|
Date of Appointment : |
3.05.1994 |
|
DIN No.: |
01657737 |
|
|
|
|
Name : |
Mr. Vittal Kabadi Sundarsa |
|
Designation : |
Director |
|
Address : |
229/16, 6th Main, 4th Lock, Jayanagar, Bangalore
– 560020, Karnataka, India |
|
Date of Birth/Age : |
28.08.1958 |
|
Date of Appointment : |
09.03.1987 |
|
DIN No.: |
01657785 |
|
|
|
|
Name : |
Mr. Govindsa Tulasu Bai |
|
Designation : |
Director |
|
Address : |
79, 9th Main, 8th Cross, R M V Extension Sadas Hivanagar,
Bangalore – 560080, Karnataka, India |
|
Date of Birth/Age : |
10.06.1952 |
|
Date of Appointment : |
09.03.1987 |
|
DIN No.: |
02011092 |
|
|
|
|
Name : |
Mr. Kabadi Sundarsa Radhusa |
|
Designation : |
Director |
|
Address : |
276-A, 37th Cross, 8th Blcok,JAyanagar,
Bangalore – 560082, Karnataka, India |
|
Date of Birth/Age : |
23.01.1957 |
|
Date of Appointment : |
09.03.1987 |
|
DIN No.: |
01692527 |
|
|
|
|
Name : |
Mr. Gnaneshwar Kabadi Sundarsa |
|
Designation : |
Director |
|
Address : |
340, Subhaga, 7th Cross, 14 Main RMV Extnesion,
Sadashivanagar, Bangalore – 560040, Karnataka, India |
|
Date of Birth/Age : |
07.12.1959 |
|
Date of Appointment : |
09.03.1987 |
|
DIN No.: |
01657834 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Govindsa Kabadi Sundarsa |
|
103528 |
|
Govindsa Tulasu Bai |
|
7380 |
|
Seema K G |
|
6980 |
|
Raju K G |
|
4430 |
|
K S Radhusa |
|
19993 |
|
Anuradha R |
|
9755 |
|
Sunil K R |
|
4810 |
|
Sunitha K R |
|
4810 |
|
K S Vittal |
|
33144 |
|
Rajalakshmi V |
|
10250 |
|
Navin K V |
|
5560 |
|
Pravin K V |
|
5560 |
|
Gnaneshwar K S |
|
28046 |
|
Hemalatha G |
|
12000 |
|
Vishal K G |
|
5500 |
|
Shruti K G |
|
5500 |
|
Deepak K G |
|
5500 |
|
Manjunatha K S |
|
31239 |
|
Munirathna M |
|
12000 |
|
M K Manish |
|
5500 |
|
Hemesh M K |
|
5500 |
|
K S Kalavathi |
|
50 |
|
K S Laxmi |
|
50 |
|
Nagarathna K S |
|
50 |
|
|
|
|
|
Total |
|
327135 |
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Govindsa Kabadi Sundarsa |
|
75000 |
|
Govindsa Tulasu Bai |
|
3500 |
|
Seema K G |
|
4000 |
|
Raju K G |
|
3000 |
|
K S Radhusa |
|
27000 |
|
Anuradha R |
|
4750 |
|
Sunil K R |
|
4000 |
|
Sunitha K R |
|
3750 |
|
K S Vittal |
|
59000 |
|
Rajalakshmi V |
|
5000 |
|
Navin K V |
|
5312 |
|
Pravin K V |
|
5000 |
|
Gnaneshwar K S |
|
43000 |
|
Hemalatha G |
|
3200 |
|
Vishal K G |
|
4500 |
|
Shruti K G |
|
2950 |
|
Deepak K G |
|
1750 |
|
Manjunatha K S |
|
59000 |
|
Munirathna M |
|
900 |
|
M K Manish |
|
2950 |
|
Hemesh M K |
|
2450 |
|
|
|
|
|
Total |
|
320012 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and exporting of silk fabrics, madeups and others. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
·
Kotak Mahindra Bank Limited, 36-38a, Nariman Bhavan,
227,D, Nariman Point,, Mumbai - 400021, Maharashtra, India ·
State Bank of India, Overseas Branch, No. 65, St.
Marks Road, Bangalore - 560001, Karnataka, India |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B K Ramadhyani
and Company Chartered Accountants |
|
Address : |
4 - B, 4th Floor
Chitrapur, Bhavan, No.68, 8th Main, 15th Cross, Malleswaram,
Bangalore-560055, Karnataka, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AABFB1153G |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
479988 |
Equity Shares |
Rs.100/- each |
Rs. 47.999 Millions |
|
320012 |
Preference Shares |
Rs.100/- each |
Rs. 32.001 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 80.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
327135 |
Equity Shares |
Rs.100/- each |
Rs. 32.714 Millions |
|
320012 |
Preference Shares |
Rs.100/- each |
Rs. 32.001 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 64.715
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
64.715 |
64.715 |
64.715 |
|
(b) Reserves & Surplus |
200.831 |
199.460 |
215.176 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
265.546 |
264.175 |
279.891 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
40.100 |
24.100 |
24.100 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
2.936 |
0.916 |
0.000 |
|
(d) long-term provisions |
2.062 |
2.534 |
2.652 |
|
Total Non-current Liabilities (3) |
45.098 |
27.550 |
26.752 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
12.773 |
38.270 |
57.043 |
|
(b) Trade payables |
21.888 |
31.410 |
21.554 |
|
(c) Other current
liabilities |
17.342 |
18.415 |
15.134 |
|
(d) Short-term provisions |
5.864 |
2.783 |
5.811 |
|
Total Current Liabilities (4) |
57.867 |
90.878 |
99.542 |
|
|
|
|
|
|
TOTAL |
368.511 |
382.603 |
406.185 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
124.858 |
140.179 |
157.353 |
|
(ii) Intangible Assets |
0.506 |
0.102 |
0.174 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.00 |
|
(iv)
Intangible assets under development |
21.677 |
20.901 |
21.275 |
|
(b) Non-current Investments |
1.677 |
4.378 |
4.408 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
31.993 |
26.996 |
27.078 |
|
(e) Other Non-current assets |
7.667 |
7.667 |
0.000 |
|
Total Non-Current Assets |
188.378 |
200.223 |
210.288 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
117.236 |
136.710 |
135.864 |
|
(c) Trade receivables |
42.623 |
24.302 |
40.582 |
|
(d) Cash and cash
equivalents |
7.133 |
9.963 |
11.225 |
|
(e) Short-term loans and
advances |
6.957 |
8.329 |
7.228 |
|
(f) Other current assets |
6.184 |
3.076 |
0.998 |
|
Total Current Assets |
180.133 |
182.380 |
195.897 |
|
|
|
|
|
|
TOTAL |
368.511 |
382.603 |
406.185 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
246.402 |
215.303 |
227.590 |
|
|
|
Other Income |
43.485 |
21.657 |
14.144 |
|
|
|
TOTAL |
289.887 |
236.960 |
241.734 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
273.392 |
239.726 |
250.117 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION, EXTRAORDINARY ITEMS AND AMORTISATION |
16.495 |
(2.766) |
(8.383) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
15.626 |
17.923 |
21.451 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX |
0.869 |
(20.689) |
(29.834) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
6.242 |
|
|
|
|
|
|
|
|
|
|
EXTRAORDINARY
ITEMS |
2.920 |
7.390 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) AFTER TAX |
3.789 |
(13.299) |
(36.076) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
167.452 |
183.168 |
221.670 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Dividend on preference shares |
2.080 |
2.080 |
2.080 |
|
|
|
Tax on preference shares Dividend |
0.337 |
0.337 |
0.346 |
|
|
BALANCE CARRIED
TO THE B/S |
168.824 |
167.452 |
183.168 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
248.744 |
216.004 |
NA |
|
|
|
|
|
|
|
|
|
IMPORTS |
85.609 |
79.306 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share (Rs.) |
5.85 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.31
|
(5.61) |
(14.92) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.35
|
(9.61) |
(13.11) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.25
|
(5.79) |
(7.84) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
(0.08) |
(0.11) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.20
|
0.24 |
0.29 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.11
|
2.01 |
1.97 |
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 |
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 |
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 |
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 |
Yes |
OPERATION:
During the year in
the face of the continued market uncertainty, the Company was able to achieve a
turnover of Rs.261.020 Millions as against Rs. 224.026 Millions of the previous
year. In the back drop of the continued sluggishness in the international
markets and increase in raw material prices, the performance of the Company was
satisfactory
CORPORATE INFORMATION
Subject was
incorporated on July 8, 1986 under the Companies Act,1956 and is in the
business of manufacturing and exporting of silk fabrics, madeups and others.
The company's registered office is in Bangalore, India.
UNSECURED LOAN
|
PARTICULARS |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
Long term
borrowing |
|
|
|
Loans and advances from related parties |
40.100 |
24.100 |
|
Total |
40.100 |
24.100 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION
|
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10425599 |
27/08/2013 * |
80,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN,
227,D, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B87767315 |
|
2 |
90195212 |
31/03/1995 * |
32,000,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH,
NEP DIVISION; M.G. ROAD, BANGALORE, KARNATAKA - 560001, INDIA |
- |
|
3 |
90191069 |
22/03/1993 * |
10,600,000.00 |
GUJARAT INDUSTRIAL INVESTMENT CORPORATION
LIMITED |
CHUNIBHAI
CHAMBERS, ASHRAM ROAD, AHMEDABAD, GUJAR |
- |
|
4 |
90190818 |
10/09/1991 * |
10,800,000.00 |
KARNATAKA STATE INDUSTRIAL INVESTMENT AND
DEVELOPMENT CORPORATION LIMITED |
MSIL HOUSE; 36,
CUNNINGHAM ROAD, BANGALORE, KARNA |
- |
|
5 |
90190599 |
26/03/1990 |
1,000,000.00 |
KARNATAKA STATE INDUSTRIAL INVESTMENT AND DEVELOPMENT
CORPORATION LIMITED |
MSIL HOUSE; 36,
CUNNINGHAM ROAD, BANGALORE, KARNA |
- |
|
6 |
90190509 |
09/11/1989 * |
8,000,000.00 |
KARNATAKA STATE INDUSTRIAL INVESTMENT AND
DEVELOPMENT CORPORATION LIMITED |
MSIL HOUSE; 36, CUNNINGHAM
ROAD, BANGALORE, KARNA |
- |
|
7 |
90190491 |
05/09/1989 |
4,500,000.00 |
KARNATAKA STATE INDUSTRIAL INVESTMENT AND
DEVELOPMENT CORPORATION LIMITED |
MSIL HOUSE; 36, CUNNINGHAM
ROAD, BANGALORE, KARNA TAKA - 560052, INDIA |
- |
|
8 |
90193344 |
02/01/1988 |
43,262,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH,
ALMS CENTRE; M.G. ROAD, BANGALORE, KARNATAKA - 560001, INDIA |
- |
* Date of charge modification
FIXED ASSETS
Tangible assets
·
Land
·
Buildings
·
Plant and equipment
·
Furniture and fixtures
·
Vehicles
·
Motor vehicles
·
Office equipment
·
Leasehold improvements
Intangible assets
·
Computer software
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.61.67 |
|
|
1 |
Rs.100.65 |
|
Euro |
1 |
Rs.84.25 |
INFORMATION DETAILS
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
36 |
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.