|
Report Date : |
18.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
LAGUNA CLOTHING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No. 50, 1st Floor, 1st Main, 9th
Cross, 3rd Phase, JP Nagar, Bangalore – 560 078, Karnataka |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
14.09.2005 |
|
|
|
|
Com. Reg. No.: |
08-058647 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.74.900 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17111KA2005PTC058647 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Ready Made Garments Woven Shirts |
|
|
|
|
No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Latest financials of 2013 are not available with us. As per of 2012, company has performed well. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct. The company can be considered normal 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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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 |
Short Term Rating=A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
04.03.2013 |
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 PARTED BY
|
Name : |
Mr. Ramesh |
|
Designation : |
Finance Head |
|
Contact No.: |
91-80-43588100 |
|
Date : |
16.12.2013 |
LOCATIONS
|
Registered Office : |
No. 50, 1st Floor, 1st Main, 9th
Cross, 3rd Phase, JP Nagar, Bangalore – 560078, Karnataka, India |
|
Tel. No.: |
91-80-43588100 |
|
E-Mail : |
|
|
|
|
|
Factory 1: |
No.1/1, 51/1 |
|
Tel. No.: |
91-80-27826384/385 |
|
Fax No.: |
91-80-43588140 |
|
|
|
|
Factory 2: |
#143/2, Kalegowdana Dobby, Seegekote Village, (NH-209) Kanakpura –
Satnur Road, Kanakapura – 562117, Karnataka, India |
|
Tel. No.: |
91-80-28015100 |
|
|
|
|
Aquarelle Clothing: |
Boundary Road, |
|
Tel. No.: |
91-23-04660833 |
|
|
|
|
Tessitura Monti: |
31052 Maserda Sul Piave Via Saltore, 10(TV), |
|
Tel. No.: |
91-39.04227291 |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Sarbaji Arun
Ghose |
||||||||||||||||||||||||||||||||
|
Designation : |
Whole-time
director |
||||||||||||||||||||||||||||||||
|
Address : |
299, 2nd Main
Road, Jp Nagar, Phase 3,Bangalore - 560078, Karnataka, India |
||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
19.06.1961 |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
20.09.2005 |
||||||||||||||||||||||||||||||||
|
DIN No.: |
00163559 |
||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||
|
Name : |
Mr. Paolo Monti |
||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||
|
Address : |
Maserada Sul
Piave Tv, Via Trevisana,Coniugato, 7, Italy |
||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
28.06.1953 |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
20.09.2005 |
||||||||||||||||||||||||||||||||
|
DIN No.: |
01424827 |
||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||
|
Name : |
Mr. Bruno Monti |
||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||
|
Address : |
Maserada Sul
Piave Tv, Via Saltore 1, Coniugato,1, Italy |
||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
31.01.1957 |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
20.09.2005 |
||||||||||||||||||||||||||||||||
|
DIN No.: |
01639989 |
||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||
|
Name : |
Mr. Eric
Dorchies |
||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||
|
Address : |
Plantation
Marguery, Rivere Noire, Mauritius, 10, Mauritius |
||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
27.11.1962 |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
20.09.2005 |
||||||||||||||||||||||||||||||||
|
DIN No.: |
01880742 |
||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||
|
Name : |
Mr. Harold Mayer |
||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||
|
Address : |
Plantation
Marguery, Riviere, Noire, 56, Mauritius |
||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
12.10.1964 |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
20.09.2005 |
||||||||||||||||||||||||||||||||
|
DIN No.: |
01880791 |
||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||
|
Name : |
Mr. Rajesh Kumar |
||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||
|
Address : |
Flat # K 304
Mantri Paradise Apts, Next IIM Banerghatta Road, Bangalore - 560076,
Karnataka, India |
||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
15.08.1968 |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
29.09.2010 |
||||||||||||||||||||||||||||||||
|
DIN No.: |
03040318 |
||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Ramesh |
|
Designation : |
Finance Head |
MAJOR SHAREHOLDERS
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Aquarelle Clothing Limited, |
|
3740000 |
|
Gruppo Tessile |
|
3745000 |
|
Sarbajit Ghose |
|
5000 |
|
|
|
|
|
Total |
|
7490000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2013
|
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 : |
Manufacturer of Ready Made Garments Woven Shirts |
|
|
|
|
Product: |
Ready Made Garments Woven Shirts |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
Europe |
|
|
|
|
Terms : |
|
|
Selling : |
L/C and Credit |
|
|
|
|
Purchasing : |
L/C and Credit |
PRODUCTION STATUS as on 31.03.2011
|
Particulars |
Unit |
|
|
Actual
Production @ |
|
Woven Garments |
Pcs |
|
|
1881583 |
Note: @ As certified by a Director. Includes those produced on subcontracting
basis.
GENERAL INFORMATION
|
Customers : |
End Users |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
No. of Employees : |
200 (Approximately) |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
Canara Bank, Overseas Branch, |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
|
|
|
Name : |
BSRR and Company Chartered Accountants |
|
Address : |
Maruti Info-Tech Centre 11-12/1, Inner Ring Road, Koramangala,
Bangalore – 560 071, India |
|
PAN No.: |
AAKFB1884H |
|
|
|
|
Venturers in the
Company: |
·
Gruppo Tessile Monti SPA, Italy ·
Aquarelle International Limited, Mauritius |
|
|
|
|
Associates of
Venturers in the company: |
·
Tessitura Monti SPA ·
Tessitura Monti India Private Limited ·
Aquarelle India Private Limited ·
Azzuri Company Limited ·
Aquarelle Clothing Limited |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7500000 |
Equity Shares |
Rs. 10/- each |
Rs.75.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7490000 |
Equity Shares |
Rs. 10/- each |
Rs.74.900 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 |
|
74.900 |
74.900 |
|
(b) Reserves & Surplus |
|
191.103 |
87.369 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
6.789 |
1.335 |
|
Total
Shareholders’ Funds (1) + (2) |
|
272.792 |
163.604 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
65.953 |
76.080 |
|
(b) Deferred tax liabilities (Net) |
|
9.237 |
6.774 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
16.659 |
12.418 |
|
Total Non-current Liabilities (3) |
|
91.849 |
95.272 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
171.353 |
205.709 |
|
(b) Trade payables |
|
148.712 |
218.115 |
|
(c) Other current liabilities |
|
53.401 |
46.949 |
|
(d) Short-term provisions |
|
46.679 |
24.492 |
|
Total Current Liabilities (4) |
|
420.145 |
495.265 |
|
|
|
|
|
|
TOTAL |
|
784.786 |
754.141 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
226.516 |
227.423 |
|
(ii) Intangible Assets |
|
1.122 |
1.465 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.333 |
|
(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 |
|
8.206 |
7.796 |
|
(e) Other Non-current assets |
|
11.527 |
10.463 |
|
Total Non-Current Assets |
|
247.371 |
247.480 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
167.765 |
175.415 |
|
(c) Trade receivables |
|
273.868 |
242.368 |
|
(d) Cash and cash equivalents |
|
40.478 |
16.924 |
|
(e) Short-term loans and
advances |
|
7.423 |
17.352 |
|
(f) Other current assets |
|
47.881 |
54.602 |
|
Total Current Assets |
|
537.415 |
506.661 |
|
|
|
|
|
|
TOTAL |
|
784.786 |
754.141 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
74.900 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
70.471 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
145.371 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
198.833 |
|
|
2] Unsecured Loans |
|
|
60.880 |
|
|
TOTAL BORROWING |
|
|
259.713 |
|
|
DEFERRED TAX LIABILITIES |
|
|
5.359 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
410.443 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
177.357 |
|
|
Capital work-in-progress |
|
|
21.883 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
96.202 |
|
|
Sundry Debtors |
|
|
266.118 |
|
|
Cash & Bank Balances |
|
|
48.552 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
49.437 |
|
Total
Current Assets |
|
|
460.309 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
219.101 |
|
|
Other Current Liabilities |
|
|
18.239 |
|
|
Provisions |
|
|
12.734 |
|
Total
Current Liabilities |
|
|
250.074 |
|
|
Net Current Assets |
|
|
210.235 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.038 |
|
|
OTHER ASSETS |
|
|
0.930 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
410.443 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
1574.510 |
1030.700 |
1136.440 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
1512.100 |
1112.780 |
1184.730 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
160.000 |
25.670 |
83.770 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
56.700 |
9.420 |
30.070 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
103.300 |
16.250 |
53.700 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
86.720 |
70.470 |
16.770 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
190.020 |
86.720 |
70.470 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
13.79 |
2.17 |
7.17 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
6.56
|
1.58 |
4.73 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.91
|
3.49 |
18.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.59
|
0.16 |
0.58 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.87
|
1.72 |
1.79 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.28
|
1.02 |
1.84 |
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 |
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 |
Yes |
|
20] |
Export / Import details (if
applicable) |
Yes |
|
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 |
UNSECURED LOANS:
|
Particulars |
31.03.2012 Rs. In Millions |
31.03.2011 Rs. In Millions |
|
Short Term Borrowings |
|
|
|
Loans and
Advances from related parties |
41.181 |
38.164 |
|
|
|
|
|
Total |
41.181 |
38.164 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10442526 |
31/07/2013 |
120,000,000.00 |
THE HONGLONG AND SHANGHAI BANKING CORPORATION LIMITED |
NO. 7, M G ROAD, BANGALORE - 560001, KARNATAKA, INDIA |
B81923526 |
|
2 |
10141265 |
14/06/2011 * |
470,000,000.00 |
CANARA BANK |
OVERSEAS BRANCH, KID KEMPS BUILDING, NO.18, M.G.ROAD, BANGALORE - 560001, KARNATAKA, INDIA |
B17062555 |
|
3 |
10006872 |
15/06/2011 * |
470,000,000.00 |
CANARA BANK |
OVERSEAS BRANCH, KID KEMPS BUILDING, NO.18, M.G.ROAD, BANGALORE - 560001, KARNATAKA, INDIA |
B17369364 |
* Date of charge modification
NOTE: Registered office of the company has been
shifted from 401 Trade Avenue Suren Road, Andhrei (East), Maumbai – 400 093,
Maharashtra, India to the present address w.e.f 11.03.2011
COMPANY PERFORMANCE
AND BUSINESS PROSPECTS:
Subject achieved turnover of Rs.1574.510 Millions and achieved profit
after tax of Rs.103.300 Millions. The products were very well accepted and
customer base was enlarged to include some of the best names in the ready to
wear market across Europe and USA. Order Book is comfortable for the existing
capacities and barring unforeseen changes we expect to end the year with good
results.
FIXED ASSETS:
·
Free Hold Land
·
Building
·
Plant and Machinery
·
Computers and software
·
Motor Vehicles
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.61.96 |
|
|
1 |
Rs.101.14 |
|
Euro |
1 |
Rs.85.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
47 |
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.