MIRA
INFORM REPORT
|
Report Date : |
11.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
WRITER LIFESTYLE PRIVATE LIMITED (w.e.f. 02.05.2003) |
|
|
|
|
Formerly Known
As : |
WRITERS DEVELOPMENT SERVICES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Writer House, CTS 1377/1378, Church Road,
Andheri-Kurla Road, Marol, Andheri East, Mumbai - 400059, Maharashtra |
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|
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|
Country : |
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|
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|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
18.09.1995 |
|
|
|
|
Com. Reg. No.: |
11-092800 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1.089 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U70100MH1995PTC092800 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in creating financially viable holistic lifestyle
retreat, involving complete restoration and preservation of site and it also
does the business of selling and marketing confectionery products |
|
|
|
|
No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 3100000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow but correct |
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|
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Litigation : |
Exist |
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|
Comments : |
Subject is a subsidiary of P N Writer and Company Private Limited. It
is an established company having a moderate track record. The management has failed to file its financial with the government
department for the year 2013. As per available financial of 2012, there appears losses recorded by
the company from its operational activities. However, trade relations are fair. Business is active. Payment terms
are slow but correct. 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
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 and high credit
risk |
|
Date |
29.05.2013 |
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.
INFORMATION DENIED BY
|
Name : |
Mrs. Shrada |
|
Designation : |
Reception |
|
Contact No.: |
91-22-61277011 |
|
Date : |
09.12.2013 |
LOCATIONS
|
Registered Office : |
Writer House, CTS 1377/1378, Church Road,
Andheri-Kurla Road, Marol, Andheri East, Mumbai - 400059, Maharashtra, India |
|
Tel. No.: |
91-22-61277011 |
|
Fax No.: |
91-22-28305024 |
|
E-Mail : |
DIRECTORS
As on 21.09.2013
|
Name : |
Mr. Nanoo Gobindram Pamnani |
|
Designation : |
Director |
|
Address : |
Flat No. 21, Elcid, 13A, Ridge Road, Malabar Hill, Mumbai – 400006,
Maharashtra, India |
|
Date of Birth/Age : |
26.02.1945 |
|
Date of Appointment : |
10.09.2009 |
|
DIN No.: |
00053673 |
|
|
|
|
Name : |
Mr. Denzil Charles Desouza |
|
Designation : |
Director |
|
Address : |
Ritu Apartment Society, Flat No. 61, 6th Floor, Bandra,
Mumbai – 400050, Maharashtra, India |
|
Date of Birth/Age : |
03.01.1961 |
|
Date of Appointment : |
18.09.1995 |
|
DIN No.: |
00289353 |
|
|
|
|
Name : |
Mr. Yazdi Hosi Desai |
|
Designation : |
Director |
|
Address : |
7/4 Rustom Baug, Sant Satwa Marg, Byculla, Mumbai – 400027,
Maharashtra, India |
|
Date of Birth/Age : |
07.10.1959 |
|
Date of Appointment : |
20.03.2003 |
|
DIN No.: |
00289572 |
|
|
|
|
Name : |
Mr. Subramaniam Ramachandran Iyer |
|
Designation : |
Director |
|
Address : |
Flat No.R-3, Rao, Mansions Malleswaram, Bangalore 560055, Karnataka,
India |
|
Date of Birth/Age : |
28.05.1940 |
|
Date of Appointment : |
10.09.2009 |
|
DIN No.: |
00580437 |
|
|
|
|
Name : |
Mr. Dayle William Desouza |
|
Designation : |
Director |
|
Address : |
141 North, St. Cyril Road, Bandra West, Mumbai – 400050, Maharashtra,
India |
|
Date of Birth/Age : |
26.05.1982 |
|
Date of Appointment : |
10.09.2009 |
|
DIN No.: |
02139997 |
|
|
|
|
Name : |
Mr. Gavin William Desouza |
|
Designation : |
Director |
|
Address : |
Ednel House, 141/142, St. Cyril Road, Bandra West, Mumbai – 400050,
Maharashtra, India |
|
Date of Birth/Age : |
09.05.1979 |
|
Date of Appointment : |
18.08.2009 |
|
DIN No.: |
02140000 |
KEY EXECUTIVES
|
Name : |
Mrs. Shrada |
|
Designation : |
Reception |
MAJOR SHAREHOLDERS
As on 21.09.2013
|
Names of Shareholders (Equity) |
|
No. of Shares |
|
P.N. Writer and Company Private Limited, India and Denzil Charles
Desouza |
|
1 |
|
P.N. Writer and Company Private Limited, India |
|
999 |
|
Total |
|
1000 |
|
Names of Shareholders (Preference) |
|
No. of Shares |
|
Cynthia William Desouza |
|
49436 |
|
Denzil Charles Desouza |
|
49436 |
|
Total |
|
98872 |
Equity Share Break up (Percentage of Total Equity)
As on 21.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in creating financially viable holistic
lifestyle retreat, involving complete restoration and preservation of site
and it also does the business of selling and marketing confectionery products |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by management |
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Bankers : |
· IDBI Bank Limited, IDBI Towerwtc Complex, Cuffe Parade, Mumbai - 400005, Maharashtra, India · Oriental Bank Of Commerce, 181-A, Maker Tower 'E' 18th Floor, Cuffe Parade,, Mumbai - 400005, Maharashtra, India |
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Facilities : |
Long Term
Borrowings: Oriental Bank of Commerce (Payable in 31 quarters Rs.23.400 Millions per
quarter starting from September 2013 till March 2014. Rs.23.700 Millions till
March 2015 and Rs.32.700 Millions till March 2022.) (Secured by way hypothecation /first charge over all immovable and
movable properties of the company and guarantee given by the holding company
and personal guarantee of a director, father secured by first charge on the
Escrow account maintained with OBC. |
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|
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
S.V. Ghatalia and Associates Chartered Accountants |
|
Address : |
14th Floor, The Ruby, 29 Senapati Bapat Marg, Dadar West,
Mumbai – 400028, Maharashtra, India |
|
Tel. No.: |
91-22-61920000 |
|
Fax No.: |
91-22-61921000 |
|
PAN No.: |
AACES6921Q |
|
|
|
|
Holding Company : |
P.N. Writer and Company Private Limited |
|
|
|
|
Fellow Subsidiary Companies : |
·
Writer Safeguard Private Limited ·
P.N. Writer and Company Limited, Dubai, UAE |
|
|
|
|
Enterprises owned or significantly influences by the key management personnel
and their relatives : |
·
Omni Trade and Transport Private Limited ·
Oceanair Transport and Investment Company Private
Limited ·
Omnl Industrial Packaging private Limited ·
Writer Logistic Private Limited (Formally
Oceanair Express Forwarders Private Limited) ·
Elegante International Exports ·
Moving Systems (India)Private Limited ·
General Repairs and Maintenance Company Private
Limited ·
P.N Writer and Company (Firm) ·
Desouza Enterprises ·
Writer Information Management Services Private
Limited ·
Writer relocations Private Limited ·
Josco International Shipping Agency Private
Limited ·
Moving systems, L.L.C, Dubai, UAE ·
Writer Relocations and Partners, L.L.C, Oman ·
Writer Holdings Private Limited ·
Pleasant Aromacraft Private Limited ·
Pleasant Ecotourism Private Limited ·
Planet Ecotourinsm Private Limited ·
Pure Ecotourinsm Private Limited ·
Palm Farmtech Private Limited ·
Origin Aromacraft Private Limited ·
Peace Aromacraft Private Limited ·
Planet Aromacraft Private Limited ·
Peace Ecotourinsm Private Limited ·
Prosper Ecotourinsm Private Limited ·
Pleasant Farmtech Private Limited ·
Pure Farmtech Private Limited ·
Prosper Farmtech Private Limited ·
Prosper Aromacraft Private Limited ·
Natural Ecotourinsm Private Limited ·
Orchid Aromacraft Private Limited ·
Orchid Ecotourinsm Private Limited ·
Origin Farmtech Private Limited ·
Omni Farmtech Private Limited ·
Natural Farmtech Private Limited ·
Omni Farmtech Private Limited ·
Omni Aromacraft Private Limited ·
Omni Acromacraft Private Limited ·
Omni Ecotorism Private Limited ·
Origin Ecotorism Private Limited ·
Orchid Famtech Private Limited ·
Pure Acromacraft Private Limited ·
Planet Farmatech Private Limited ·
Palm Acromacraft Private Limited ·
Peace Farmatech Private Limited ·
Natural Acromacraft Private Limited ·
Palm Ecotorism Private Limited ·
Sunny Acromacraft Private Limited ·
Abasalom Horticulture Farms Private Limited ·
Abe Horticulture Farms Private Limited ·
Ahmik Horticulture Farms Private Limited ·
Ardon Horticulture Farms Private Limited ·
Arkhippos Horticulture Farms Private Limited ·
Caspar Horticulture Farms Private Limited ·
Cephas Horticulture Farms Private Limited ·
Chadwick Horticulture Farms Private Limited ·
Clayton Horticulture Farms Private Limited ·
Corliss Horticulture Farms Private Limited ·
Cramer Horticulture Farms Private Limited ·
Creighton Horticulture Farms Private Limited ·
Cuthbert Horticulture Farms Private Limited ·
Dalbert Horticulture Farms Private Limited ·
Dallin Horticulture Farms Private Limited ·
Dalton Horticulture Farms Private Limited ·
Darkon Horticulture Farms Private Limited ·
Darton Horticulture Farms Private Limited ·
Darvell Horticulture Farms Private Limited ·
Delvin Horticulture Farms Private Limited ·
Dempster Horticulture Farms Private Limited ·
Denham Horticulture Farms Private Limited ·
Dustin Horticulture Farms Private Limited ·
Eaton Horticulture Farms Private Limited ·
Eitan Horticulture Farms Private Limited ·
Eigin Horticulture Farms Private Limited ·
Ellsworth Horticulture Farms Private Limited ·
Elwood Horticulture Farms Private Limited ·
Erastus Horticulture Farms Private Limited ·
Ezio Horticulture Farms Private Limited ·
Fane Horticulture Farms Private Limited ·
Grimshaw Horticulture Farms Private Limited ·
Hartwood Horticulture Farms Private Limited ·
Haywood Horticulture Farms Private Limited ·
Holmes Horticulture Farms Private Limited ·
Writer Relocasia Private Limited ·
Ezra Horticulture Farms Private Limited |
CAPITAL STRUCTURE
As on 21.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 Millions |
|
100000 |
Preference Shares |
Rs.10/- each |
Rs.1.000 Millions |
|
|
Total |
|
Rs.11.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000 |
Equity Shares |
Rs.100/- each |
Rs.0.100 Million |
|
98872 |
Preference Shares |
Rs.10/- each |
Rs.0.989 Million |
|
|
Total |
|
Rs.1.089
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 |
|
1.089 |
1.089 |
|
(b) Reserves & Surplus |
|
763.839 |
773.342 |
|
(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) |
|
764.928 |
774.431 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
503.897 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
1.123 |
0.762 |
|
(d) long-term provisions |
|
51.086 |
49.482 |
|
Total Non-current Liabilities (3) |
|
556.106 |
50.244 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
33.404 |
63.346 |
|
(b) Trade payables |
|
0.638 |
0.053 |
|
(c) Other current
liabilities |
|
75.966 |
57.115 |
|
(d) Short-term provisions |
|
0.289 |
0.091 |
|
Total Current Liabilities (4) |
|
110.297 |
120.605 |
|
|
|
|
|
|
TOTAL |
|
1431.331 |
945.280 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
22.100 |
15.545 |
|
(ii) Intangible Assets |
|
0.340 |
0.000 |
|
(iii) Capital
work-in-progress |
|
1366.157 |
908.736 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
14.600 |
1.501 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
1403.197 |
925.782 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
3.650 |
4.297 |
|
(c) Trade receivables |
|
0.002 |
0.709 |
|
(d) Cash and cash
equivalents |
|
0.887 |
0.058 |
|
(e) Short-term loans and
advances |
|
22.705 |
14.005 |
|
(f) Other current assets |
|
0.890 |
0.429 |
|
Total Current Assets |
|
28.134 |
19.498 |
|
|
|
|
|
|
TOTAL |
|
1431.331 |
945.280 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.100 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.398 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
0.498 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
0.498 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
15.545 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
0.709 |
|
|
Cash & Bank Balances |
|
|
0.543 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
7.803 |
|
Total
Current Assets |
|
|
9.055 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
20.124 |
|
|
Other Current Liabilities |
|
|
4.144 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
24.268 |
|
|
Net Current Assets |
|
|
(15.213) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.166 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
0.498 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
NA |
|
NA |
|
|
|
|
Other Income |
NA |
|
NA |
|
|
|
|
TOTAL |
NA |
0.567 |
NA |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
NA |
11.991 |
NA |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX |
NA |
(11.424) |
NA |
||
|
|
|
|
|
|
||
|
Less |
TAX |
NA |
NA |
NA |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX |
(9.503) |
(11.424) |
(0.032) |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Trading goods |
0.197 |
2.820 |
0.000 |
|
|
|
|
Capital goods |
50.323 |
0.000 |
0.000 |
|
|
|
TOTAL IMPORTS |
50.520 |
2.820 |
0.000 |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
(9503.00) |
(11424.00) |
(31.51) |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
NA
|
(2014.81) |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
|
NA
|
(32.60) |
NA
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
(0.01) |
NA
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.70 |
0.08 |
0.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.26 |
0.16 |
1.00 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
one year |
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 |
Yes |
|
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 |
Yes |
LITIGATION DETAILS:
|
UNSECURED LOANS:
|
Particulars |
31.03.2012 Rs. In Millions |
31.03.2011 Rs. In Millions |
|
Short Term Borrowings |
|
|
|
Others |
0.000 |
5.000 |
|
Total |
0.000 |
5.000 |
CORPORATE
INFORMATION:
The company is engaged in creating financially viable holistic lifestyle
retreat, involving complete restoration and preservation of site and it also
does the business of selling and marketing confectionery products.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10300228 |
12/07/2011 |
960,000,000.00 |
Oriental Bank Of Commerce |
181-A, Maker Tower 'E' 18th floor,
Cuffe Parade, Mumbai, Maharashtra - 400005, INDIA |
B18089318 |
NOTE: CURRENT
MATURITIES OF LONG TERM DEBT NOT AVAILABLE
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture
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 records 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.61.21 |
|
|
1 |
Rs.100.65 |
|
Euro |
1 |
Rs.84.15 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--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 |
|
26 |
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.