|
Report Date : |
18.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
ASF INSIGNIA SEZ PRIVATE LIMITED (w.e.f. 09.02.2012) |
|
|
|
|
Formerly Known
As : |
CANTON BUILDWELL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
11, Babar Lane,
Bengali Market, New Delhi – 110 001 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
06.09.2005 |
|
|
|
|
Com. Reg. No.: |
55-140408 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.10.642
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45201DL2005PTC140408 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in development and maintenance
of information technology/information technology enabled services sector
specific Special Economic Zone ("SEZ"). |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 5131000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of ASF Buildtech Private Limited. It is an
established company having satisfactory track record. The rating constrained by moderate debt coverage indicators, losses
during the financial year 2013 and inherent risks related to the real estate
sector emanating from the under development SEZ project. However, the company gets good financial support from its holding
company. Further cash flow emanating from lease agreements with companies
with strong credit profiles, supported by a structured payment mechanism. Trade relations are fair. Business is active. Payment terms are slow
but correct. In view of strong holdings the company can be considered normal for
business dealings at usual trade terms and condition. |
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 |
CARE |
|
Rating |
Long Term Bank Facilities: BBB- (SO) |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
March 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.
LOCATIONS
|
Registered Office : |
11, Babar Lane,
Bengali Market, New Delhi – 110 001, India |
|
Tel. No.: |
91-11-27396687 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
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|
|
|
|
Corporate Office : |
ASF Centre, 362-363, Udyog Vihar, Phase-IV, Gurgaon – 122 016,
Haryana, India |
|
Tel. No.: |
91-124-4777200 |
|
Fax No.: |
91-124-4234110 |
|
E-Mail : |
DIRECTORS
AS ON 10.09.2013
|
Name : |
Mr. Anil Girdharilal Saraf |
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|
Designation : |
Managing Director |
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Address : |
E-505, Greater Kailash – II, New Delhi – 110 048, India |
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Date of Birth/Age : |
12.01.1962 |
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|
Date of Appointment : |
19.01.2009 |
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DIN No.: |
00373265 |
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Other Directorship:
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Name : |
Mr. Hrushikesh Gangadhar Kar |
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Designation : |
Director |
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|
Address : |
64, Sea Springs, P.J. Road, Bandstand, Bandra (West), Mumbai – 400
050, Maharashtra, India |
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Date of Birth/Age : |
01.07.1971 |
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|
Date of Appointment : |
29.09.2009 |
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DIN No.: |
01494726 |
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Other Directorship:
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Name : |
Mr. Prabal Kumar Barunendra Gupta |
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Designation : |
Director |
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Address : |
202, Madhuri Apartment, Jatin Chandra Road, Lalpur, Ranchi – 834 001,
Jharkhand, India |
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Date of Birth/Age : |
13.01.1952 |
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Date of Appointment : |
15.09/.2011 |
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DIN No.: |
03545552 |
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Other Directorship:
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 10.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Anil Saraf |
|
1 |
|
ASF Buildtech Private Limited, India |
|
754258 |
|
JP Morgan India Property Mauritius Company II, Mauritius |
|
310000 |
|
Total
|
|
1064259 |
AS ON 10.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
29.1282 |
|
Bodies
corporate |
|
70.8717 |
|
Directors
or relatives of directors |
|
0.0001 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in development and
maintenance of information technology/information technology enabled services
sector specific Special Economic Zone ("SEZ"). |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
·
ICICI Bank
Limited ·
Central Bank of India, 5, Jeevan Tara
Building, Parliament Street, New Delhi – 110 001, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
IDBI Trusteeship Services Limited, Asian Ground Floor, No. 17, R.
Kamani Marg, Ballard Estate, Mumbai – 440 001, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
7th Floor, Building 10, Tower- B, DLF Cyber City Complex,
DLF City Phase-II, Gurgaon – 122 002, Haryana, India |
|
Tel. No.: |
91-124-6792000 |
|
Fax No.: |
91-124-6792012 |
|
PAN No.: |
AABFD2095B |
|
|
|
|
Holding Company: |
ASF Buildtech Private Limited (Formerly Multiplex Infrastructure
Private Limited) (CIN No.: U45400DL2007PTC168901) |
|
|
|
|
Ultimate Holding Company: |
ASF Infrastructure Private Limited |
|
|
|
|
Enterprises having significant influence (“EHSI”): |
JP Morgan India Property Mauritius Company II |
|
|
|
|
Subsidiary Company: |
Kings Canyon Insignia SEZ Private Limited (Formerly known as Idyllic Infrastructure
Private Limited) (CIN No.: U45204DL2011PTC219866) |
|
|
|
|
Fellow subsidiary companies (with whom transactions have taken place
during the year): |
·
ASF Facility Management Private Limited (Formerly
known as Multiplex Facility Management Private Limited) ·
ASF Buildwell Private Limited |
CAPITAL STRUCTURE
AS ON 10.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1064259 |
Equity Shares |
Rs.10/- each
|
Rs.10.642
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 |
10.642 |
7.935 |
7.235 |
|
(b) Reserves & Surplus |
1253.665 |
1370.092 |
1179.272 |
|
(c) Money received against share warrants |
18.404 |
25.172 |
25.173 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
1282.711 |
1403.199 |
1211.680 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
4612.319 |
2610.853 |
1550.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long
term liabilities |
368.893 |
228.894 |
137.529 |
|
(d) Long-term
provisions |
4.401 |
3.061 |
1.392 |
|
Total Non-current
Liabilities (3) |
4985.613 |
2842.808 |
1688.921 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
34.552 |
33.751 |
27.378 |
|
(c)
Other current liabilities |
698.365 |
787.192 |
251.263 |
|
(d) Short-term
provisions |
0.858 |
0.277 |
0.103 |
|
Total Current
Liabilities (4) |
733.775 |
821.220 |
278.744 |
|
|
|
|
|
|
TOTAL |
7002.099 |
5067.227 |
3179.345 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
4344.047 |
3264.527 |
387.466 |
|
(ii)
Intangible Assets |
1.420 |
89.656 |
91.728 |
|
(iii)
Capital work-in-progress |
1770.685 |
1236.142 |
2060.850 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.076 |
0.076 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
114.342 |
100.068 |
97.257 |
|
(e) Other
Non-current assets |
256.811 |
95.302 |
0.000 |
|
Total Non-Current
Assets |
6487.381 |
4785.771 |
2637.301 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
4.040 |
0.000 |
0.000 |
|
(c)
Trade receivables |
40.863 |
13.726 |
0.000 |
|
(d) Cash
and cash equivalents |
383.081 |
145.557 |
197.479 |
|
(e)
Short-term loans and advances |
7.992 |
121.184 |
340.091 |
|
(f)
Other current assets |
78.742 |
0.989 |
4.474 |
|
Total
Current Assets |
514.718 |
281.456 |
542.044 |
|
|
|
|
|
|
TOTAL |
7002.099 |
5067.227 |
3179.345 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income from operations |
593.625 |
29.450 |
0.000 |
|
|
|
Other Income |
13.167 |
11.748 |
43.420 |
|
|
|
TOTAL (A) |
606.792 |
41.198 |
43.420 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Operating & Administrative Expenses |
250.092 |
69.516 |
24.490 |
|
|
|
TOTAL (B) |
250.092 |
69.516 |
24.490 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
356.700 |
(28.318) |
18.930 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST &
FINANCIAL EXPENSES (D) |
347.591 |
91.167 |
15.724 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
9.109 |
(119.485) |
3.206 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
129.548 |
38.646 |
1.015 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(120.439) |
(158.131) |
2.191 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.255 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(120.439) |
(158.131) |
1.936 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(172.374) |
(14.243) |
(16.179) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(292.813) |
(172.374) |
(14.243) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
6.919 |
158.719 |
58.319 |
|
|
TOTAL IMPORTS |
6.919 |
158.719 |
58.319 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(128.00) |
(214.16) |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(19.85)
|
(383.83)
|
4.46 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(20.29)
|
(536.95)
|
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(2.30)
|
(4.13)
|
0.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.09)
|
(0.11)
|
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
3.60
|
1.86 |
1.28 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.70
|
0.34 |
1.94 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
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 |
-- |
|
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 |
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10407004 |
25/02/2013 |
500,000,000.00 |
IDBI TRUSTEESHIP
SERVICES LIMITED |
ASIAN GROUND
FLOOR, NO. 17, R. KAMANI MARG,, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 440001,
INDIA |
B69169365 |
|
2 |
10392465 |
07/11/2012 |
850,000,000.00 |
CENTRAL BANK OF
INDIA |
5, JEEVAN TARA
BUILDING, PARLIAMENT STREET, NEW DELHI, DELHI - 110001, INDIA |
B64322720 |
|
3 |
10378793 |
28/09/2012 |
2,327,594,055.00 |
IDBI TRUSTEESHIP
SERVICES LIMITED |
ASIAN BUILDING, GROUND
FLOOR, 17, R. KAMANI MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001,
INDIA |
B58992637 |
|
4 |
10377710 |
12/02/2013 * |
2,200,000,000.00 |
IDBI TRUSTEESHIP
SERVICES LIMITED |
ASIAN BUILDING, GROUND
FLOOR, 17, R. KAMANI MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001,
INDIA |
B68184175 |
|
5 |
10270740 |
12/02/2013 * |
200,000,000.00 |
IDBI TRUSTEESHIP
SERVICES LIMITED |
ASIAN BUILDING, GROUND
FLOOR, 17, R. KAMANI MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001,
INDIA |
B68183383 |
* Date of charge modification
|
Unsecured Loans |
31.03.2013 (Rs. in Millions) |
31.03.2012 (Rs. in Millions) |
|
LONG TERM BORROWINGS |
|
|
|
Loan from Holding
Company |
673.634 |
0.000 |
|
Total |
673.634 |
0.000 |
BACKGROUND
The Company was incorporated on 06
September, 2005.
The Company has been established to develop, maintain and operate
Information technology/information technology enabled services sector specific
Special Economic Zone ("SEZ") pursuant to the approvals granted by Government of India in the Year 2007 and 2010, Government of Haryana
under the SEZ Act (Notification under the SEZ Act for 9.14 hectares is in process). Lay out plans have
been approved under the Haryana Development and Regulation of Urban Areas Act,
1975. During the previous year,
the Company had constructed a building with covered area of 115,446.10 square meters and obtained
occupancy certificate from the respective
authority, which was let out to various IT companies.
The Company is in the process of further development/construction of
multi-storied buildings including residential flats as part of its exclusive SEZ project called "ASF Insignia" ("The Project").
YEAR IN RETROSPECT
AND FUTURE PROSPECTS:
The Company has significantly tried to improve its performance, as part
of its endeavors to be recognized as one of the most preferred IT Sector specific Special Economic Zone (SEZ) in the
country. The first phase of the SEZ project consisting of approximately 1
million sqft of IT/ITES space in the
processing zone is now operational with world class tenants. In line with
groups philosophy of creating world class developments which are
energy efficient and environment friendly,
the SEZ development has achieved 'Leader in Energy and Environmental Design" (LEED) Gold
certification for Ph-l building
and 6 Gold Certification for Ph-II Building which is under construction.
Carrying on with its remarkable performance during the financial year 2012-13. The Company is aiming to complete construction of phase II commercial
building which will have 1.25 msf
leasable area.
The company has also commenced construction of Phase - I Residential Apartments
consisting of 225 units.
The company met all commitments in time during
the year to the lending institutions.
THE KEY
PERFORMANCES OF THE COMPANY ARE:
- Fresh-Investment in SEZ Project
amounted to Rs.1848.086 millions.
The Company has equipped itself to leverage the opportunity provided by
the growth of the SEZ and Infrastructure
Sector in India. The liberalized
trade regime is resulting in increased Information Technology/ Information
Technology Enabled Services Business being outsourced to India and the Company
is ready and rightly positioned to capitalize on this opportunity. It is
believed that the company has a glorious future and it will reach the zenith of
success in the coming era.
FIXED ASSETS:
Tangible Assets:
·
Freehold Land
·
Buildings
·
Improvements to Building
·
Plant and Equipment
·
Furniture and Fixtures
·
Motor Vehicles
·
Computers
·
Office Equipment
Intangible Assets
·
Computer Software
·
Right to use License
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.61.96 |
|
|
1 |
Rs.101.14 |
|
Euro |
1 |
Rs.85.33 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
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 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
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.