|
Report Date : |
31.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
SWASTIK REFINERY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
3, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
23.04.1997 |
|
|
|
|
Com. Reg. No.: |
21-084070 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.146.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15142WB1997PTC084070 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALS07804G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCS5999Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Refined Edible Oil. |
|
|
|
|
No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 690000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The company has incurred a loss during current year. Reserves of the company also appears to be low. However, trade relations are reported as fair. Business is active.
Payment terms are reported to be slow but correct. The company can be considered for business dealings with some
cautions. |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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
Uptick in agriculture
and construction spread some cheer as the economy grew a higher-than-expected
4.8 % in the three months through September. Manufacturing rose an annual rate
per cent during the quarter and mining fell by 0.4 %, government data showed
while farm output rose 46%.
India has emerged as
the most attractive investment destination, thanks to a relaxation in foreign
direct investment norms, says a report. India is followed by Brazil and China
in the ranking part of EY’s Capital Confidence Barometer report based on a
survey across 70 nations. The US, France and Japan have emerged as the top
three investors likely to invest in India.
India has been
ranked 83rd globally in terms of talent competitiveness of its human
capital. Switzerland, Singapore, Denmark, Sweden and Luxembourg are the
top five in the list of 103 nations compiled by INSEAD business school.
Tax rates for
companies in India are among the highest in the world and the number of
payments is also more than the global average putting the country at low, 158th
rank on the Paying Taxes. 2014 list by the World Bank and PWC. However, the
time taken for tax payments is relatively less in India which is rated ahead of
China and Japan.
1 billion smartphone
shipments in 2013, a 39.3 % growth over 2012. This was being driven by low cost
computing in emerging markets. By 2017, total smartphone shipments are expected
to approach 1.7 billion units, resulting in a compound annual growth rate of
18.4 % between 2013 and 2017, according to research from IDC.
20 % vacancy rate of
office space in Mumbai and Delhi in the third quarter, the highest in Asia
after Chengdu, in China. According to Cushman and Wakefield, six Indian cities
are among the 10 office markets with the worst vacancies.
Foreign banks will
not have to pay stamp duty and capital gains tax, if they convert their branch
operations into a wholly owned subsidiary, according to the Reserve Bank of
India.
The Reserve Bank of
India is planning to launch CPI – indexed bonds aimed to protecting the savings
of retail investors from the impact the price rise by December end.
Central Bureau of
Investigation has booked State Bank of India, Deputy Managing Director Shyamal
Acharya and others in a graft case related to distribution of a loan of over Rs
4000 mn. Gold and jewellery worth Rs 6.7 mn have been recovered from the
residence of Acharya.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating: BB- |
|
Rating Explanation |
Moderate risk of default |
|
Date |
14.03.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating: A4+ |
|
Rating Explanation |
Minimal degree of safety, it carry very high
credit risk. |
|
Date |
14.03.2013 |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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. Damodar Jana |
|
Designation : |
Finance Department |
|
Contact No.: |
91-33-30085555 |
|
Date : |
28.12.2013 |
LOCATIONS
|
Registered Office : |
3, Pretoria Street, “Chandrakunj”, 3rd Floor, Kolkata –
700071, West Bengal, India |
|
Tel. No.: |
91-33-30085555/ 30081090/ 22826177/ 22826176/ 22826178 |
|
Fax No.: |
91-33-30081090/ 22828053 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Jalan Industrial Complex, Vill: Baniara, P. O. Begri, P. S.: Domur,
District Howrah, West Bengal, India |
|
Tel. No.: |
91-33-26418127/ 26693022 |
|
Fax No.: |
91-33-26693022 |
DIRECTORS
(AS ON 30.09.2013)
|
Name : |
Mr. Om Prakash Agarwal |
|
Designation : |
Director |
|
Address : |
Monalisa, 11th Floor, 17, Camac Street, Kolkata – 700017,
West Bengal, India |
|
Date of Birth/Age : |
10.10.1951 |
|
Date of Appointment : |
15.03.2006 |
|
DIN No.: |
00019765 |
|
PAN No.: |
ACDPA6872H |
|
|
|
|
Name : |
Mr. Rabindra Agarwal |
|
Designation : |
Director |
|
Address : |
Gardenia 9th Floor, 227/1A, A. J. C. Bose Road, Kolkata –
700020, West Bengal, India |
|
Date of Birth/Age : |
05.06.1970 |
|
Date of Appointment : |
23.04.1997 |
|
DIN No.: |
00210109 |
|
PAN No.: |
ACQPA6903Q |
|
|
|
|
Name : |
Mr. Ashok Agarwal |
|
Designation : |
Director |
|
Address : |
Gardenia 9th Floor, 227/1A, A. J. C. Bose Road, Kolkata –
700020, West Bengal, India |
|
Date of Birth/Age : |
03.02.1976 |
|
Date of Appointment : |
20.02.2002 |
|
DIN No.: |
00232049 |
|
PAN No.: |
AEUPA5124K |
KEY EXECUTIVES
|
Name : |
Mr. Damodar Jana |
|
Designation : |
Finance Department |
|
|
|
|
Name : |
Mr. Sumit Jain |
|
Designation : |
Secretary |
|
Address : |
“Virindavan Tower”, 2nd Floor, Flat No.206, 36, Rabindra
Sarani, Liluah, Howrah – 711204, West Bengal, India |
|
Date of Birth/Age : |
02.02.1987 |
|
Date of Appointment : |
01.02.2012 |
|
PAN No.: |
AHTPJ504P |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2013)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Ashok Kumar Bubna |
|
123300 |
|
Ambo Exports Limited, India |
|
1347800 |
|
Rabindra Agarwal |
|
536200 |
|
Suman Devi Bubna |
|
126300 |
|
Sudharshan Bubna |
|
336300 |
|
Deepak Gupta |
|
300 |
|
Ashok Kumar Bubna and Sons (HUF) |
|
9000 |
|
Mahabir Prasad Bubna and Other (HUF) |
|
12000 |
|
Swati Gupta |
|
600 |
|
Tarak Nath Agarwal |
|
300 |
|
Ambo Credit Private Limited, India |
|
7190000 |
|
Saroj Kumar Agarwal |
|
160000 |
|
Umesh Agarwal |
|
160000 |
|
Manoj Agarwal |
|
235000 |
|
Ritu Agarwal |
|
160000 |
|
Better View Sales Private Limited, India |
|
250000 |
|
Neotex Vinimay Private Limited, India |
|
500000 |
|
Pyramid Vincom Private Limited, India |
|
400000 |
|
Himachal Vinimay Private Limited, India |
|
500000 |
|
Paramjyoti Traders Private Limited, India |
|
500000 |
|
Shikha Bubna |
|
147300 |
|
Sushila Agarwal |
|
179800 |
|
Babita Poddar |
|
17700 |
|
Malti Agarwal |
|
106500 |
|
Sweety Agarwal |
|
244000 |
|
Sarita Agarwal |
|
2700 |
|
Anuradha Saraf |
|
300 |
|
Bina Agarwal and Amar Chand Agarwal |
|
300 |
|
Bhagwan Das Agarwal |
|
251500 |
|
Sunita Sawalka |
|
300 |
|
Ashok Agarwal |
|
152500 |
|
Om Prakash Agarwal |
|
140000 |
|
Aditi Agarwal |
|
100000 |
|
Nandini Agarwal |
|
100000 |
|
Geeranjali S. Agarwal |
|
100000 |
|
Bhagwan Das Agarwal (HUF) |
|
80000 |
|
Om Prakash Agarwal (HUF) |
|
80000 |
|
Rabindra Agarwal (HUF) |
|
80000 |
|
Ashok Agarwal (HUF) |
|
80000 |
|
Saroj Agarwal (HUF) |
|
80000 |
|
Manoj Agarwal (HUF) |
|
80000 |
|
Umesh Agarwal (HUF) |
|
80000 |
|
|
|
|
|
Total |
|
14650000 |
(AS ON 30.09.2013)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
72.95 |
|
Directors or relatives of directors |
|
21.89 |
|
Other top fifty shareholders |
|
5.16 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Refined Edible Oil. |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Exports : |
|
||||
|
Products : |
Finished Good |
||||
|
Countries : |
Indonesia |
||||
|
|
|
||||
|
Imports : |
|
||||
|
Products : |
Raw Materials |
||||
|
Countries : |
Bhutan |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Cash and Credit |
||||
|
|
|
||||
|
Purchasing : |
Cash and Credit Depend |
GENERAL INFORMATION
|
Suppliers : |
· Jhunjhunwala Vanaspati Limited (JVL) |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Customers : |
End Users · Jaya Industries, Kolkata · Raja Industries, Kolkata |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
250 (Approximately) |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
· Andhra Bank Chowringhee Branch, 58 Chowringhee Road, Kolkata – 700071, West
Bengal, India · Kotak Mahindra Bank · Axis Bank Limited |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
P. K. Sehia and Company Chartered Accountants |
|
Address : |
5, Khairu Palace, Kolkata – 700072, West Bengal, India |
|
PAN No.: |
AAGFP1422M |
|
|
|
|
Enterprises
which are owned, or have significant influence of or are partners with Key management
personnel and their relatives : |
· Ambo Export Limited · Ambo Credit Limited · Ambo Agritech Limited |
CAPITAL STRUCTURE
(AS ON 30.09.2013)
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16500000 |
Equity Shares |
Rs.10/- each |
Rs.165.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14650000 |
Equity Shares |
Rs.10/- each |
Rs.146.500
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 |
146.500 |
146.500 |
126.500 |
|
(b) Reserves & Surplus |
25.148 |
38.054 |
32.261 |
|
(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) |
171.648 |
184.554 |
158.761 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
47.294 |
82.008 |
41.115 |
|
(b) Deferred tax liabilities (Net) |
2.828 |
2.828 |
3.683 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
50.122 |
84.836 |
44.798 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
228.755 |
207.864 |
150.986 |
|
(b) Trade payables |
583.469 |
679.204 |
279.050 |
|
(c) Other current
liabilities |
9.645 |
5.465 |
3.065 |
|
(d) Short-term provisions |
0.000 |
2.908 |
1.750 |
|
Total Current Liabilities (4) |
821.869 |
895.441 |
434.851 |
|
|
|
|
|
|
TOTAL |
1043.639 |
1164.831 |
638.410 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
197.962 |
194.430 |
203.029 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
3.003 |
3.003 |
2.957 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
3.393 |
2.321 |
2.200 |
|
(e) Other Non-current assets |
22.846 |
26.110 |
0.000 |
|
Total Non-Current Assets |
227.204 |
225.864 |
208.186 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
368.987 |
337.334 |
233.307 |
|
(c) Trade receivables |
271.667 |
177.895 |
114.566 |
|
(d) Cash and cash
equivalents |
126.408 |
368.947 |
45.678 |
|
(e) Short-term loans and
advances |
33.762 |
36.525 |
15.932 |
|
(f) Other current assets |
15.611 |
18.266 |
20.741 |
|
Total Current Assets |
816.435 |
938.967 |
430.224 |
|
|
|
|
|
|
TOTAL |
1043.639 |
1164.831 |
638.410 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
TOTAL REVENUE |
3016.021 |
2575.975 |
1433.513 |
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
9.469 |
6.101 |
9.469 |
|
|
|
|
|
|
|
Less |
TAX |
22.375 |
0.308 |
4.023 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
(12.906) |
5.793 |
5.446 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(0.88) |
0.40 |
-- |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.91
|
0.53 |
1.49 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.03 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.61
|
1.57 |
1.21 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.99
|
1.05 |
0.99 |
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 |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOANS
|
Particulars |
31.03.2013 |
31.03.2012 |
|
|
(Rs. In Millions) |
|
|
Short Term
Borrowings |
|
|
|
Loans and Advance from Related Parties |
56.727 |
60.586 |
|
|
|
|
|
Total |
56.727 |
60.586 |
PERFORMANCE AND OPERATIONS
During the year
the Company has registered a substantial growth in its topline however the
bottom line has dropped leaving a loss in the Profit and Loss Account of the Company.
This position is mainly due to external reasons. The members are aware that our
Company is dependent on imports as almost all of their production is supported
by the imported crude edible oils. The abnormal rise in dollar prices and
increase in cost of materials has led to such unexpected performance. Although
this year remained much stressed towards the performance but the Board is
hopeful that the scenario will improve in the forth coming years. Beside the
financial performance, the Company had been able to improve upon its market
share which will have a far reaching positive impact.
TRADE REFERENCE:
· Jhunjhunwala Vanaspati Limited (JVL)
· Jaya Industries, Kolkata
· Raja Industries, Kolkata
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10464546 |
16/11/2013 |
20,000,000.00 |
ANDHRA BANK |
CHOWRINGHEE
BRANCH, 58, CHOWRINGHEE ROAD, KOLKATA, WEST BENGAL - 700071, INDIA |
B91282053 |
|
2 |
10412109 |
27/02/2013 |
20,000,000.00 |
ANDHRA BANK |
CHOWRINGHEE
BRANCH, 58, CHOWRINGHEE ROAD, KOLKATA, WEST BENGAL - 700071, INDIA |
B70867056 |
|
3 |
10391625 |
06/12/2012 |
20,000,000.00 |
ANDHRA BANK |
CHOWRINGHEE BRANCH,
58, CHOWRINGHEE ROAD, KOLKATA, WEST BENGAL - 700071, INDIA |
B63990188 |
|
4 |
10376315 |
09/08/2012 |
14,800,000.00 |
ANDHRA BANK |
CHOWRINGHEE
BRANCH, 58, CHOWRINGHEE ROAD, KOLKATA, WEST BENGAL - 700071, INDIA |
B58021080 |
|
5 |
10366425 |
12/06/2012 |
100,000,000.00 |
ANDHRA BANK |
CHOWRINGHEE
BRANCH, 58, CHOWRINGHEE ROAD, KOLKATA, WEST BENGAL - 700071, INDIA |
B43992718 |
|
6 |
10166254 |
03/02/2010 * |
284,600,000.00 |
ANDHRA BANK |
CHOWRINGHEE BRANCH,
58, CHOWRINGHEE ROAD, KOLKATA, WEST BENGAL - 700071, INDIA |
A79257861 |
|
7 |
90246126 |
30/06/2009 * |
27,000,000.00 |
ANDHRA BANK |
KARAYA ROAD
BRANCH, 4/2, KARAYA ROAD, KOLKATA, WEST BENGAL - 700017, INDIA |
A66185596 |
|
8 |
90248088 |
17/01/2013 * |
1,325,000,000.00 |
ANDHRA BANK |
CHOWRINGHEE
BRANCH, 58, CHOWRINGHEE ROAD, KOLKATA, WEST BENGAL - 700071, INDIA |
B67284596 |
* Date of charge modification
FIXED ASSETS:
· Land
· Building
· Office Building
· Factory Building
· Plant and Equipment
· Furniture and Fixture
· Vehicles
· 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 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.62.06 |
|
|
1 |
Rs.102.03 |
|
Euro |
1 |
Rs.85.27 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
29 |
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.