MIRA INFORM REPORT

 

 

Report Date :

11.02.2013

 

IDENTIFICATION DETAILS

 

Name :

SAMRAT REMEDIES LIMITED

 

 

Registered Office :

1501, Phase III, GIDC, Vapi – 396 195, Gujarat

 

 

Country :

India

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

21.08.2003

 

 

Com. Reg. No.:

04-042774

 

 

Capital Investment / Paid-up Capital :

Rs.11.314 Millions

 

 

CIN No.:

[Company Identification No.]

U24231GJ2003PLC042774

 

 

IEC No.:

0305060724

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

SRTS06519C

 

 

PAN No.:

[Permanent Account No.]

AAJCS3844G

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Manufacturer of Organic and Inorganic Chemicals.

 

 

No. of Employees :

55 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (46)

 

RATING

STATUS

 

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 220000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a well established company having satisfactory track record.

 

Performance capacity of the company seems good. Financially company has improved in the current year.

 

Trade relations are reported to be fair. Business is active. Payments are reported to be usually correct and as per commitments.

 

The company can be considered 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.

 

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

ICRA

Rating

BB+ (Cash Credit)

Rating Explanation

Having moderate risk of default regarding timely servicing of financial obligation.

Date

December 31, 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 PARTED BY

 

Name :

Mr. Patil

Designation :

Accounts Department

Contact No.:

91-22-26102491

Date :

09.02.2013

 

 

LOCATIONS

 

Registered Office/ Factory :

1501, Phase III, GIDC, Vapi – 396 195, Gujarat, India

Tel. No.:

91-260-3296545

Fax No.:

91-260-2427073

E-Mail :

samratplant@gmail.com

harshcorp@vsnl.net.in

harshcorp@mtnl.net.in

contact@samratremedies.com

Website :

http://www.samratremedies.com

Area :

19600 sq. ft.

Location :

Owned

 

 

Head Office :

303, 3rd Floor, Suyash, Hanuman Gali, Koldongri, Jagdish Nagar, Sahar Road, Andheri (East), Mumbai – 400 069, Maharashtra, India

Tel. No.:

91-22-26102491/ 92

Fax No.:

91-22-26101982

 

 

Branch Office :

Plot No.1505, 3rd Phase, GIDC, Vapi – 396 195, Gujarat, India

Location :

Owned

 

 

DIRECTORS

 

As on 29.09.2012

 

Name :

Mr. Champak Kantilal Parekh

Designation :

Whole Time Director

Address :

3, Kamdhenu Nilayam, 5, Nanda Patkar Road, Vile Parle (East), Mumbai – 400 057, Maharashtra, India

Date of Birth/Age :

31.10.1933

Qualification :

GDC and A

Date of Appointment :

01.01.2012

DIN No.:

00287189

 

 

Name :

Mr. Hitesh Champak Parekh

Designation :

Managing director

Address :

3, Kamdhenu Nilayam, 5, Nanda Patkar Road, Vile Parle (East), Mumbai – 400 057, Maharashtra, India

Date of Birth/Age :

28.07.1965

Qualification :

B. Pharma

Date of Appointment :

01.01.2012

DIN No.:

00287229

 

 

Name :

Mrs. Saroj Champak Parekh

Designation :

Whole Time Director

Address :

3, Kamdhenu Nilayam, 5, Nanda Patkar Road, Vile Parle (East), Mumbai – 400 057, Maharashtra, India

Date of Birth/Age :

10.10.1940

Qualification :

B. Com  (Intermediate)

Date of Appointment :

01.01.2012

DIN No.:

00287298

 

 

Name :

Mrs. Sangeeta Hitesh Parekh

Designation :

Whole Time Director

Address :

3, Kamdhenu Nilayam, 5, Nanda Patkar Road, Vile Parle (East), Mumbai – 400 057, Maharashtra, India

Date of Birth/Age :

25.10.1966

Qualification :

B. Com

Date of Appointment :

01.01.2012

DIN No.:

00287345

 

  

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 29.09.2012

 

Names of Shareholders

 

 

No. of Shares

Hitesh C. Parekh

 

462500

Hitesh C. Parekh (HUF)

 

100000

Champak K. Parekh

 

12500

Sangeeta Hitesh Parekh

 

462470

Saroj Champak Parekh

 

12500

Bindi Vinit Mehta

 

10

Harish Dauletrai Gandhi

 

10

Jayant L. Shah

 

10

Central Chemical Inc., Japan

 

81350

Total

 

1131350

 

As on 29.09.2012

 

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]

 

7.19

Directors or relatives of directors

 

92.81

Total

 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Organic and Inorganic Chemicals.

 

 

Products :

Production Description

ITC Code No

 

Sodium Metaperiodate

28299000

Iodine

28012000

Potassium Iodide

28276010

 

v      Calcium Iodate

v      Copper Iodide

v      Ethyl Iodide

v      Hydriodic Acid (56%)

v      Iodine

v      Methyl 2-Iodobenzoate

v      Methyl Iodide

v      Potassium Iodate

v      Potassium Iodide

v      Potassium Metaperiodate

v      Sodium Iodide

v      Sodium Metaperiodate

v      Trimethyl Sulfoxoniumiodide

v      3, 5-Di-Iodo Salicylic acid

 

 

Exports :

 

Products :

v      Finished Goods

Countries :

v      France

 

 

Imports :

 

Products :

v      Raw Materials

Countries :

v      Japan

v      Chile

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit 

 

PRODUCTION STATUS (AS ON 31.03.2012)

 

Particulars

Unit

Licensed Capacity

Installed Capacity

Actual Production

Organic and Inorganic Chemicals

MT

NA

360.0000

241.2378

 

 

 

 

 

 

 

GENERAL INFORMATION

 

Suppliers :

v      Deep Pharma-Chem Private Limited

v      Union Enterprise

v      Super Sulphates

v      Apsara Packagings

v      Arihant Chemicals

v      Maitree Chemicals

v      TNT Express

v      Mehta Medicate Private Limited

v      Prince Containers Private Limited

v      Nisha Chemicals

v      Krishna Solvechem Limited

v      Reliance Energy

v      Adarsh Printing Press

v      Shroff Engineers

v      Star Scientific Glass Company

v      Vinay Traders

 

 

Customers :

v      Evialis India Limited

v      Sun Pharmaceuticas Ind. Limited

v      Century Enka Limited

v      Kiran Light Laboratories

v      SD Fine Chem Limited

v      SRF Limited

v      Sun Food Tech

v      Cadila Healthcare Limited-AHM

v      Thomas Baker Chemicals Private Limited

v      Sam Fine Chem Limited

v      Cipla Limited

v      M.R. International

v      Auctus Pharma Limited

v      Micro Chemicals Company Private Limited

v      Sushant Industries

 

 

No. of Employees :

55 (Approximately)

 

 

Bankers :

v      Corporation Bank, SME Marol Branch, Bonanza, Sahar Plaza Complex, Andheri-Kurla Road, J.B. Nagar, Andheri (East), Mumbai – 400 059, Maharashtra, India

v      The Saraswat Co-operative Bank Limited, Raja Shopping Center, New Nagardas Road, Andheri (East), Mumbai – 400 069, Maharashtra, India  

v      ICICI Bank Limited

v      ABN Amro Bank

v      HDFC Bank Limited

v      Kotak Mahindra Bank Limited

 

 

Facilities :

Secured Loans

31.03.2012

(Rs. in Millions)

31.03.2011

(Rs. in Millions)

Long Term Borrowings

 

 

Corporation Bank CC A/c 01080004

16.655

23.658

Corporation Bank Term Loan

10.798

16.008

ABN Amro Bank

0.000

0.424

Bajaj Auto Limited

0.735

1.332

HDFC Bank Limited

0.994

2.026

Magma Fincorp Limited

0.746

1.426

Tata Capital Limited

0.755

1.431

Kotak Mahindra Bank

0.798

1.461

Total

31.481

47.766

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Nalin S. Parekh and Company

Chartered Accountants

Address :

302, Madhav Apartments, 3rd Floor, Jawahar Road, Ghatkopar (East), Mumbai – 400 077, Maharashtra, India

Tel. No.:

91-22-25012552/ 25013488

E-Mail :

nalinsparekh@hotmail.com

Income-tax PAN of auditor or auditor's firm :

AABPP3409R

 

 

Related Party :

Sun Chemicals

 

 

CAPITAL STRUCTURE

 

As on 31.03.2012

 

Authorised Capital :

No. of Shares

Type

Value

Amount

1500000

Equity Shares

Rs.10/- each

Rs.15.000 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

1131350

Equity Shares

Rs.10/- each

Rs.11.314 Millions

 

 

 

 

 

DETAILS OF SHAREHOLDERS’ HOLDING DURING THE YEAR

 

Particulars

As on 31.03.2011

Allotted during the year

As on 31.03.2012

Holding (%)

Hitesh C. Parekh

212500

250000

462500

40.8804%

Hitesh C. Parekh (HUF)

100000

--

100000

8.8390%

Champak K. Parekh

12500

--

12500

1.1049%

Sangeeta Hitesh Parekh

212470

250000

462470

40.8777%

Saroj Champak Parekh

12500

--

12500

1.1049%

Bindi Vinit Mehta

10

--

10

0.0009%

Harish Dauletrai Gandhi

10

--

10

0.0009%

Jayant L. Shah

10

--

10

0.0009%

Central Chemical Inc.

--

81350

81350

7.1905%

Total No. of Shares

550000

581350

1131350

100.00%

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2012

31.03.2011

31.03.2010

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

11.314

5.500

5.500

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

43.792

22.215

17.358

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

55.106

27.715

22.858

LOAN FUNDS

 

 

 

1] Secured Loans

31.481

47.766

44.873

2] Unsecured Loans

20.992

31.098

37.678

TOTAL BORROWING

52.473

78.864

82.551

DEFERRED TAX LIABILITIES

1.410

1.585

1.731

 

 

 

 

TOTAL

108.989

108.164

107.140

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

42.241

44.517

45.997

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

0.026

0.052

0.052

DEFERRED TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
26.698
45.390
19.172

 

Sundry Debtors
129.587
53.776
69.533

 

Cash & Bank Balances
19.459
11.193
14.645

 

Other Current Assets
1.084
0.935
0.935

 

Loans & Advances
9.308
9.510
7.925

Total Current Assets
186.136

120.804
112.210

Less : CURRENT LIABILITIES & PROVISIONS
 

 
 

 

Sundry Creditors
118.553
54.668
51.119

 

Other Current Liabilities
0.000
0.000
0.000

 

Provisions
0.861
2.541
0.000

Total Current Liabilities
119.414
57.209

51.119

Net Current Assets
66.722
63.595

61.091

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

108.989

108.164

107.140

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2012

31.03.2011

31.03.2010

 

SALES

 

 

 

 

 

Revenue from Operations

581.398

295.467

284.238

 

 

Other Income

1.475

2.121

1.301

 

 

TOTAL                                     (A)

582.873

297.588

285.539

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Material Consumed

480.209

268.045

262.348

 

 

Changes in inventories of finished goods, work in progress and stock-in-trade

14.643

(24.483)

 

 

 

Employee Benefits Expenses

7.437

7.138

 

 

 

Other Expenses

37.431

21.165

 

 

 

TOTAL                                     (B)

539.720

271.865

262.348

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)      (C)

43.153

25.723

23.191

 

 

 

 

 

Less

FINANCIAL EXPENSES                         (D)

11.211

12.559

10.513

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

31.942

13.164

12.678

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

5.522

5.744

5.024

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                               (G)

26.420

7.420

7.654

 

 

 

 

 

Less

TAX                                                                  (H)

8.909

2.563

2.531

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

17.511

4.857

5.123

 

 

 

 

 

 

EXPORT VALUE

4.156

NA

NA

 

 

 

 

 

 

IMPORT VALUE

328.322

157.405

157.405

 

 

 

 

 

 

Earnings Per Share (Rs.)

15.48

8.83

NA

 

Expected Sales (2012-2013): Rs.720.000 millions

 

The above information has been parted by Mr. Patil (Accounts Department).

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2012

31.03.2011

31.03.2010

PAT / Total Income

(%)
3.00

1.63

1.79

 

 
 

 

 

Net Profit Margin

(PBT/Sales)

(%)
4.54

2.51

2.69

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
11.57

4.49

4.84

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
0.48

0.27

0.33

 

 
 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

0.95

2.85

3.61

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.56

2.11

2.20

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Details of Sundry Creditors:

 

Particulars

 

31.03.2012

(Rs. in millions)

31.03.2011

(Rs. in millions)

31.03.2010

(Rs. in millions)

Sundry Creditors

 

 

 

- Creditors for Goods

110.351

50.853

46.583

- Creditors for Expenses

8.202

3.815

4.536

Total

118.553

54.668

51.119

 

Details of Sundry Creditors (Partial Details):

 

Particulars

 

31.03.2012

(Rs. in millions)

31.03.2011

(Rs. in millions)

31.03.2010

(Rs. in millions)

Sundry Creditors

 

 

 

- Creditors for Goods

 

 

 

Deep Pharma-Chem Private Limited

1.171

1.032

0.949

Union Enterprise

0.044

0.057

0.032

Super Sulphates

1.008

0.050

0.078

Apsara Packagings

0.073

0.045

--

Arihant Chemicals

0.012

--

0.013

Maitree Chemicals

0.029

0.056

--

TNT Express

0.002

--

--

Rizaco Limited

97.545

--

--

Mehta Medicare Private Limited

0.381

--

0.020

Prince Containers Private Limited

0.255

0.216

0.178

Krishna Solvechem Limited

0.019

--

 

Nisha Chemicals

0.214

--

0.617

- Creditors for Expenses

 

 

 

Reliance Energy

0.004

0.012

0.008

Adarsh Printing Press

0.031

0.005

0.027

Shroff Engineers

0.033

0.039

0.007

Star Scientific Glass Company

0.397

--

--

Vinay Traders

0.179

0.032

0.012

Orbit Security Services

0.111

0.118

0.091

 

 

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

Yes

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

Yes

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

No

33) Voter ID No of Proprietor/Partner/Director, if available

No

34) External Agency Rating, if available

Yes

 

 


Note:

The registered office address of the company has shifted from Plot No.1401, 3rd Phase, Near Gama Colony, GIDC, Vapi – 396 195, Gujarat to the present address w.e.f. 29.04.2010.

 

Unsecured Loans

31.03.2012

(Rs. in Millions)

31.03.2011

(Rs. in Millions)

Long Term Borrowings

 

 

From Directors

 

 

C.K. Parekh

5.420

6.079

Hitesh Parekh

2.319

8.644

Sangeeta H. Parekh

5.698

8.413

Saroj Parekh

3.066

3.713

From Others

 

 

C.K. Parekh (HUF)

0.685

0.688

Hitesh Parekh (HUF)

3.804

3.561

Total

20.992

31.098

 

Bankers Charges Report as per Registry

 

Corporate identity number of the company

U24231GJ2003PLC042774

Name of the company

SAMRAT REMEDIES LIMITED

Address of the registered office or of the principal place of  business in India of the company

1501, Phase III, GIDC, Vapi – 396 195, Gujarat, India

E-Mail: contact@samratremedies.com

This form is for

Modification of charge

Charge identification number of the modified 

10133784

Type of charge

Immovable Property

Book Debts

Movable Property (not being pledge)

Others (Current and Fixed Assets)

Particular of charge holder

Corporation Bank, SME Marol Branch, Bonanza, Sahar Plaza Complex, Andheri-Kurla Road, J.B. Nagar, Andheri (East), Mumbai – 400 059, Maharashtra, India

E-Mail: adlalwani@rediffmail.com

Nature of description of the instrument creating or modifying the charge

1. Supplemental Common Deed of Hypothecation

2. Memorandum of Deposit of Title Deeds cum Continuity Letter

(All the above agreement constitute a single charge)

Date of instrument Creating the charge

12.03.2012

Amount secured by the charge

Rs.202.900 millions

Brief particulars of the principal terms an conditions and extent and operation of the charge

Rate of Interest:

As stipulated by Bank from time to time

 

Terms of Repayment:

As stipulated by Bank from time to time

 

Margin:

As stipulated by Bank from time to time

 

Extent and Operation of the charge:

First Charge (Present and Future)=Total Limit Rs.202.900 millions (Cash Credit=Rs.40.000 millions, Inland/Import Letter of Credit=Rs.150.000 millions, Term Loan (Review) Rs.8.300 millions, Term Loan (Review) =Rs.3.600 millions and Bank Guarantee=Rs.1.000 million)

 

And/or as stipulated by Bank from time to time

 

Others:

As stipulated by Bank from time to time and as per agreement and as per sanction letter of the bank

Short particulars of the property charged

First charge (present and future on following assets) –

(1) Hypothecation of all goods/ stock/ inventories/ products/ stores/ tools kept at borrower place/ premises/ godown/ factories etc or whereeverelse or in transit including brought under L.C.

(2) Hypothecation of all book debts and receivables

(3) Hypothecation of all current assets, movable and fixed assets including all plant and machinery, furniture fixtures, electrical equipments etc.

(4) EMG of Plot Bearing No.1501, situated at Vapi Notified Industrial Area, Chhiri, Pardi, Valsad Bearing Survey No.116/P of Village-Chiri, Taluka-Pardi and District-Valsad with building thereon (existing and to be constructed) with all plant and machineries

(5) EMG of office premises located at No.208, Delmas, Near Udyog Bhavan, Goregaon-East, Mumbai owned by Hitesh Parekh and Sangeeta Hitesh Parekh

Whether any of the property or interest therein under reference is not registered in the name of the company

If yes, in whose name it is registered

Yes

 

 

Owned by Hitesh Parekh and Sangeeta Hitesh Parekh

Particulars of the present modification 

By this modification limit increased from 153.600 millions to  Rs.202.900 millions (Cash Credit=Rs.40.000 millions, Inland/Import Letter of Credit=Rs.150.000 millions, Term Loan (Review) Rs.8.300 millions, Term Loan (Review) =Rs.3.600 millions and Bank Guarantee=Rs.1.000 million), securities are continued as given by original charge as well as by modification, terms and conditions as per agreement and as per sanction letter of the Bank

 

 FIXED ASSETS:

 

v      Land

v      Building

v      Computer 

v      Office Equipment

v      Plant and Machinery

v      Electric Installation

v      Vehicle

v      Furniture and Fixtures

v      Air Conditioners


CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.53.57

UK Pound

1

Rs.84.25

Euro

1

Rs.71.79  

 

 

INFORMATION DETAILS

 

Information Gathered by :

PDT

 

 

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

6

--PROFITABILIRY

1~10

5

--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

TOTAL

 

46

 

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

-

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.