MIRA INFORM REPORT
|
Report Date : |
05.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
J. J. POLYPLAST PRIVATE LIMITED |
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Formerly Known
As : |
J. J. POLYPLAST LIMITED |
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Registered
Office : |
C-206, 2nd Floor, Ghatkopar Industrial Estate LBS Marg,
Ghatkopar (west), Mumbai – 400 084, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
20.10.1997 |
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Com. Reg. No.: |
11-111395 |
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Capital
Investment / Paid-up Capital : |
Rs.19.320 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25200MH1997PLC111395 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMJ05531B |
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PAN No.: [Permanent Account No.] |
AAACJ4050C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Supplier of Dies and Mould. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 200000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. The
latest financials are not available. Mr. Sanjesh Jain, Director has denied to disclose any details of the
subject to us. As per previous year’s record, the financial strength of the company
appears to be moderate. However, trade relations are reported as fair. Business is active.
Payment terms are slow but correct. The company can be considered for business dealings with some caution.
Note : Due to technical error in the government sites, we hereby provide you the report with available details and we would provide you with a on the same company as soon as we get the additional information. |
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
India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating: BB- |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
22.02.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating: A4+ |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
22.02.2012 |
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 DECLINED BY
|
Name : |
Mr. Sanjesh Jain |
|
Designation : |
Director |
|
Contact No.: |
91-22-25007155 |
|
Date : |
04.02.2013 |
|
Email : |
LOCATIONS
|
Registered/ Corporate Office: |
C-206, 2nd Floor, Ghatkopar Industrial Estate LBS Marg,
Ghatkopar (west), Mumbai – 400 084, Maharashtra, India |
|
Tel. No.: |
91-22-25007155 (6 lines) |
|
Fax No.: |
91-22-25007166 |
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E-Mail : |
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|
Websites : |
www.jjpolyimpex.co.uk |
DIRECTORS
(AS ON 30.09.2011)
|
Name : |
Mr. Vijyachandran Govindan Menon |
|
Designation : |
Director |
|
Address : |
303, Building No. 09, Phase 3, Shubharambh Complex, Thane – 400610, |
|
Date of Birth/Age : |
27.04.1970 |
|
Date of Appointment : |
02.09.2005 |
|
DIN No.: |
00347937 |
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|
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Name : |
Mr. Joseph John Parakott |
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Designation : |
Director |
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Address : |
1303 / 1304 C |
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Date of Birth/Age : |
21.03.1970 |
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Date of Appointment : |
20.10.1997 |
|
DIN No.: |
01032342 |
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|
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|
Name : |
Mr. Samkulam Adhimurthy Viswanathan |
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Designation : |
Director |
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Address : |
C-403, Laxminarayan Complex, Sector 12 A, Koparkhairne, Navi Mumbai –
400 709, |
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Date of Birth/Age : |
30.07.1963 |
|
Date of Appointment : |
14.05.2008 |
|
DIN No.: |
02179426 |
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|
|
|
Name : |
Mr. Sanjesh Jinnalal Jain |
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Designation : |
Additional Director |
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Address : |
6/7, Pankaj Apartments, Near LVM School, Kotnis Marg, Mahim, Mumbai –
400016, Maharashtra, India |
|
Date of Birth/Age : |
12.09.1972 |
|
Date of Appointment : |
10.06.2010 |
|
DIN No.: |
02436515 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2011)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Joseph John Parakott |
|
897310 |
|
Rosamma Parakott |
|
35500 |
|
Vijayachandran Govindan Menon |
|
105000 |
|
John Parakott |
|
11000 |
|
Alekutty Parakott |
|
10000 |
|
Nilesh Vijaykumar Kadam |
|
30000 |
|
Margaret Nilesh Kadam |
|
25000 |
|
Triloksingh Mehta |
|
50500 |
|
Hemantkumar P. Jain |
|
75690 |
|
Suneeta Hemantkumar Jain |
|
15000 |
|
J. N. Kant Dye Chem Private Limited, India |
|
15000 |
|
Shree Venkatesh Chem Colour, India |
|
5000 |
|
Parakkott Investment India Private Limited, India |
|
1225000 |
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|
|
|
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Total |
|
2500000 |
(AS ON 30.09.2011)
Equity Share Break up (Percentage of Total Equity)
|
Category |
|
Percentage of
Holding |
|
|
|
|
|
Bodies corporate
|
|
0.80 |
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Directors or relatives of directors |
|
91.35 |
|
Other top fifty shareholders |
|
7.85 |
|
|
|
|
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of Dies and Mould. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
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Bankers : |
·
Union bank
of India, Mumbai Samachar Marg Branch, 66/80, Mumbai Samachar Marg, Fort, Mumbai
- 400023, Maharashtra, India ·
The Saraswat Co-Operative Bank Limited, Ghatkopar Branch, Ghatkopar, Mumbai – 400086, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Devarajan and Company Chartered Accountants |
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Address : |
408, Anurag Business Centre, Near Cinema, Chembur, Mumbai – 400 071,
Maharashtra, India |
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Tel No.: |
91-22-67655509 |
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Fax No.: |
91-22-67655510 |
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E-Mail : |
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PAN No.: |
AAEFR0229A |
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Associates : |
· J .J. Poly Impex Private Limited · Aishwarya Plast Exports Private Limited · K. K. Products |
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Related Parties : |
· Parakkott Investments India Private Limited |
CAPITAL STRUCTURE
(AS ON 30.09.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs. 10/- each |
Rs.25.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs. 10/- each |
Rs.25.000 Millions |
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|
|
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|
(AS ON 31.03.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs. 10/- each |
Rs.25.000 Millions |
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|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1931965 |
Equity Shares |
Rs. 10/- each |
Rs.19.320 Millions |
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|
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|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
19.320 |
9.320 |
9.320 |
|
|
2] Share Application Money |
5.680 |
9.806 |
15.540 |
|
|
3] Reserves & Surplus |
26.114 |
21.840 |
18.299 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
51.114 |
40.966 |
43.159 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
28.548 |
64.740 |
54.816 |
|
|
2] Unsecured Loans |
16.227 |
2.765 |
10.654 |
|
|
TOTAL BORROWING |
44.775 |
67.505 |
65.470 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
95.889 |
108.471 |
108.629 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
3.256 |
3.872 |
4.906 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.530 |
0.530 |
27.461 |
|
|
DEFERREX TAX ASSETS |
0.130 |
0.076 |
0.211 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
122.253 |
71.873
|
29.790
|
|
|
Sundry Debtors |
97.441
|
25.043
|
66.651
|
|
|
Cash & Bank Balances |
20.730
|
19.905
|
17.909
|
|
|
Other Current Assets |
20.131
|
12.500
|
20.250
|
|
|
Loans & Advances |
37.284
|
79.575
|
31.816
|
|
Total
Current Assets |
297.839
|
208.896 |
166.416
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
184.674
|
96.978
|
73.488
|
|
|
Other Current Liabilities |
17.778
|
2.775
|
12.876
|
|
|
Provisions |
3.414
|
5.154
|
4.011
|
|
Total
Current Liabilities |
205.866
|
104.907 |
90.375
|
|
|
Net Current Assets |
91.973
|
103.989 |
76.041
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.004 |
0.010 |
|
|
|
|
|
|
|
|
TOTAL |
95.889 |
108.471 |
108.629 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
881.115 |
585.940 |
339.339 |
|
|
|
Other Income |
1.411 |
5.500 |
9.432 |
|
|
|
TOTAL |
882.526 |
591.440 |
348.771 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
832.866 |
552.899 |
|
|
|
|
Payments to and Provision for Employees |
7.661 |
6.740 |
|
|
|
|
Sales and Distributions Expenses
|
2.874 |
1.874 |
|
|
|
|
Establishment / other Expenses |
12.361 |
5.653 |
|
|
|
|
Preliminary Expenses Written Off |
0.004 |
0.005 |
|
|
|
|
TOTAL |
855.766 |
567.171 |
326.738 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
26.760 |
24.269 |
22.033 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
20.011 |
19.659 |
17.966 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
6.749 |
4.610 |
4.067 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.578 |
0.896 |
0.881 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
PROFIT IN PARTNERSHIP FIRM (K. K. PRODUCTS) |
6.171 |
3.714 |
3.186 |
|
|
|
|
|
|
|
|
|
Add |
PROFIT IN PARTNERSHIP
FIRM (K. K. PRODUCTS) |
0.000 |
1.146 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
6.171 |
4.860 |
3.186 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.962 |
1.319 |
0.952 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
4.209 |
3.541 |
2.234 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
21.840 |
18.299 |
NA |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Excess Provision for Income Tax |
(0.064) |
0.000 |
NA |
|
|
BALANCE CARRIED
TO THE B/S |
26.113 |
21.840 |
18.299 |
|
|
|
|
|
|
|
|
|
|
|
Raw Materials |
428.117 |
269.659 |
165.255 |
|
|
TOTAL IMPORTS |
428.117 |
269.659 |
165.255 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) -
Basic -
Diluted |
3.11 2.85 |
3.80 3.79 |
2.40 2.33 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.48 |
0.60 |
0.64 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.70 |
0.83 |
0.94 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
2.05 |
2.28 |
1.86 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12 |
0.12 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.88 |
1.65 |
1.52 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.45 |
1.99 |
1.84 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Sundry
Creditors |
|
|
|
|
-
Others |
184.674 |
96.978 |
73.488 |
|
|
|
|
|
|
Total |
184.674 |
96.978 |
73.488 |
|
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 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 |
No |
|
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 |
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 |
UNSECURED LOANS
|
Particulars |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
|
|
|
|
|
|
Loans from Director |
0.450 |
0.000 |
|
Other Loans |
15.777 |
2.765 |
|
|
|
|
|
Total |
16.227 |
2.765 |
OPERATION DURING THE YEAR:
The company has achieved a top line of Rs.881.100 Millions an increase
of over 50% over the previous year and after provisions for taxation managed to
add Rs.4.209 Millions to its kitty as reserves. The current year net profit of
Rs.4.209 Millions is an increase of over 25% when compared to the previous year
figure of Rs.3.540 Millions
The company continues to be successful in consolidating the gains over
previous year and hopes to improve its presence in the market still further.
CONTINGENT
LIABILITY:
|
Particulars
|
31.03.2011 (Rs. In Millions) |
|
Bank Guarantee |
0.278 |
|
Surety Under Excise Bond* |
6.000 |
|
Bank Guarantee for K. K. Products |
28.600 |
|
NOTE:
*The Company has stood surety on behalf of
its associate concern by executing Surety Bond under Form B17 in favour of
the Deputy Commissioner, Excise and Customes, Vadodara. |
|
Form 8:
|
Corporate
identity number of the company |
U25200MH1997PLC111395 |
||||||||||
|
Name of the
company |
J. J. POLYPLAST LIMITED
|
||||||||||
|
Address of the
registered office or of the principal place of business in |
C-206, 2nd Floor, Ghatkopar Industrial Estate LBS Marg,
Ghatkopar (west), Mumbai – 400 084 E-Mail : jjpl@vsnl.com |
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|
This form is for |
Modification of
Charge |
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|
Charge
identification (ID) number of the charge to be modified |
80032274 |
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|
Type of charge |
· Book Debts · Movable property (not being pledge) |
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|
Particular of
charge holder |
Union bank of India, Mumbai
Samachar Marg Branch, 66/80, Mumbai Samachar Marg, Fort, Mumbai - 400023,
Maharashtra, India E-Mail : msmcredit@unionbankofindia.com
|
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|
Nature of
instrument creating charge |
Supplementary deed
to SD-20 hypothecation deed |
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|
Date of
instrument Creating the charge |
03.10.2011 |
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|
Amount secured by
the charge |
Rs. 280.000 Millions |
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|
Brief of the
principal terms and conditions and extent and operation of the charge |
Rate of Interest: Cash Credit
(Hypothecation) : Interest at base rate+4.25% W/W W.A.E. :
Interest at base rate+4.25% Import / Inland
L/C : Interest as usual W/W buyers'
credit : Interest as usual Terms of Repayment: On demand Margin: As per sanction
terms. Extent and Operation of the charge: To secure an
aggregate limit of Rs.280.000 Millions granted by the bank as under : (Rs. In Millions)
Others (Cash Credit
Limit of Rs.125.000 Millions is within which Import / Inland Letter of Credit
Limit of Rs.280.000 Millions) |
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|
Short particulars
of the property charged (Including location of the property) |
Hypothecation
by way of first charge in favour of the bank :- (1) All
tangible movable machineries, plant, machinery fixtures, fittings, other installations,
cranes, furniture, computers, other accessories, vehicles together with
spares, tools, accessories and all other articles lying on the premises at
Ghatkopar, Bhiwandi or in the godowns of the borrower or in the custody of
any person who are mercantile agents of the borrower or in the course of
transit which may hereinafter be brought, stored or be lying in or upon the
said premises of the borrower. (2) The
whole of the borrower's movable goods and assets, both present and future and
including but without prejudice to generality of the foregoing words, all
stocks of raw materials, semi finished
goods and finished goods such as stock in trade, packing materials,
consumable stores and spares etc. Whatsoever and wheresoever situate and / or
in transit whether now belonging to or that may at any time during the
continuance of this security belong to the borrower or that may be held by
any party anywhere to the order and disposition of the borrower. (3) All the
present and future book debts, outstanding, monies receivable, claims,
bills, contracts, engagements and
securities which are now due and owing or which may at any time hereafter
during the continuance of this security become due and owing to the borrower
in the course of its business by any
person, firm, company or body corporate or by the government of India or any state government or Indian
railways or any government department or office or any municipal or local or
public or semi-government body or authority whatsoever including those
relating to the assets leased out and/or given on hire purchase Basis. |
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|
Date of
instrument modifying the charge |
18.12.2010 |
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|
Particular of
present modification |
The aggregate
limit has enhanced from Rs.180.000 Millions to Rs.280.000 Millions and the
charge created on the hypothecated property and book debts shall be further
extended and shall also be a continuing security to the bank to secure the
further aggregate limit of Rs.280.000 Millions together with interest,
additional interest, penal interest, commission, premia on prepayment, costs,
charges, expenses and all other monies payable by the borrower to the bank. |
FIXED ASSETS:
·
Computers
·
Office Equipments
·
Furniture and Fixtures
·
Vehicles
·
Office Premises
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.52.97 |
|
|
1 |
Rs.83.17 |
|
Euro |
1 |
Rs.72.21 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
TOTAL |
|
32 |
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.