MIRA
INFORM REPORT
|
Report Date : |
12.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
DILIP CHHABRIA DESIGN PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
DILIP CHHABRIA DESIGN (AUTOMOTIVE) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Keytuo Industrial Compound, Kondivita Road, MIDC, Andheri (East),
Mumbai – 400059, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
14.06.1993 |
|
|
|
|
Com. Reg. No.: |
11-072371 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 57.104 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999MH1993PTC072371 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Renovation of Vehicle Design. |
|
|
|
|
No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record.
It has recorded a healthy growth in its income earned from operation during
2012. Trade relations are reported as decent. Business is active. Payment
terms are usually correct and as per commitment. 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 |
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 (GENERAL INFORMATION)
|
Name : |
Ms. Briganza |
|
Designation : |
Account Department |
|
Contact No.: |
91-22-67391111 |
LOCATIONS
|
Registered Office : |
Keytuo Industrial Compound, Kondivita Road, MIDC, Andheri (East),
Mumbai – 400059, Maharashtra, India |
|
Tel. No.: |
91-22-67391111 |
|
Fax No.: |
91-22-28217392 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Rented |
|
|
|
|
Branch Office : |
Located at · Gurgaon · Pune · Hyderabad · Chennai · New Delhi ·
Surat |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Vijay Kumar Jamnadhar Agarwal |
|
Designation : |
Director |
|
Address : |
93/B, Maker Tower, Cuffe Parade, Colaba, Mumubai-400005, Maharashtra,
India |
|
Date of Appointment : |
10.03.2005 |
|
DIN No.: |
00108710 |
|
|
|
|
Name : |
Mr. Dilip Harkishan Chhabria |
|
Designation : |
Managing Director |
|
Address : |
21, Sanjay Plaza, A.B. Nair Road, Juhu Andheri, Mumbai-400049,
Maharashtra, India |
|
Date of Appointment : |
14.06.1993 |
|
PAN No.: |
ADCPC0642D |
|
DIN No.: |
00248787 |
|
|
|
|
Name : |
Ms. Cherry Dilip Chhabria |
|
Designation : |
Director |
|
Address : |
21, Sanjay Plaza, A.B. Nair Road, Juhu Andheri, Mumbai-400049,
Maharashtra, India |
|
Date of Appointment : |
10.10.2007 |
|
PAN No.: |
ADKPC8724E |
|
DIN No.: |
00250150 |
|
|
|
|
Name : |
Mr. Sanjay Maloo |
|
Designation : |
Director |
|
Address : |
8/21, Sarvapriya Vihar, New Delhi-110017, Delhi, India |
|
Date of Appointment : |
27.09.1999 |
|
DIN No.: |
00548379 |
|
|
|
|
Name : |
Mr. Chhattar Kumar Goushal |
|
Designation : |
Director |
|
Address : |
18, Swastik Court, 1st Pasta Lane, Colaba, Mumbai-400005,
Maharashtra, India |
|
Date of Appointment : |
27.09.1999 |
|
DIN No.: |
01187644 |
|
|
|
|
Name : |
Mr. Bonito Dilip Chhabria |
|
Designation : |
Whole Time Director |
|
Address : |
21, Sanjay Plaza, A.B. Nair Road, Juhu Andheri, Mumbai-400049,
Maharashtra, India |
|
Date of Appointment : |
01.10.2009 |
|
PAN No.: |
AAFPC1921K |
|
DIN No.: |
02462819 |
|
|
|
|
Name : |
Mr. Kanchan Harkishin Chhabria |
|
Designation : |
Whole Time Director |
|
Address : |
21, Sanjay Plaza, A.B. Nair Road, Juhu Andheri, Mumbai-400049,
Maharashtra, India |
|
Date of Appointment : |
01.10.2009 |
|
PAN No.: |
AADPC1972F |
|
DIN No.: |
02942867 |
KEY EXECUTIVES
|
Name : |
Ms. Briganza |
|
Designation : |
Account Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
Dilip Harkishan Chhabria |
2448000 |
|
Bonto D Chhabria JT Dilip Chhabria |
500 |
|
Dilip Chhabria JT. Bonto D Chhabria |
221550 |
|
Dilip Chhabria JT. Cherry D Chhabria |
177650 |
|
Visan Brothers Private Limited, India |
44750 |
|
Vivek Shekhar ST Simmi Shekhar |
1700 |
|
Yamini Mathur |
350 |
|
Suyash Holding 6 Estate Developers Private Limited, India |
1700 |
|
Arch Finance Limited, India |
750 |
|
R K Bachas |
200 |
|
Ruchita Pandey |
200 |
|
Pusimar Goyal |
5000 |
|
Robert Fleming Nominee Limited / A/C Fleming India International
Company Citibank NA (Custody Services) |
40000 |
|
Nailesh Priyankant Dalal JT Smruti Nailesh Dazsrz |
2000 |
|
Vipul Priyakant Dalal JT Sonal Vipul Dalal |
2000 |
|
Baldev Bajaj |
1250 |
|
Deepak More |
1250 |
|
Kamal Kumar Dugar |
750000 |
|
Ranjan Joshi JT Amita Joshi |
750 |
|
Kailash Biyani JT Asha Biyani |
60000 |
|
Fast Deal Mercantile Company Private Limited, India |
223700 |
|
C G Intertrade Private Limited, India |
952000 |
|
Kanchan H Chhabria |
100 |
|
Blend Financial Services Limited, India |
700000 |
|
Antique Securities Private Limited, India |
75000 |
|
TOTAL
|
5710400 |
AS ON 29.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Bodies corporate |
34.37 |
|
Directors or relatives of Directors |
65.63 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Renovation of Vehicle Design. |
|
|
|
|
Terms : |
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|
Selling : |
L/C, Cash and Credit (30 Days) |
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|
|
|
Purchasing : |
L/C, Cash and Credit (30 Days) |
GENERAL INFORMATION
|
Customers : |
Others |
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No. of Employees : |
250 (Approximately) |
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|||||||||||||||||||||
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Bankers : |
·
State Bank of Hyderabad, Anand Building, 1st
Floor, Gandhi Gram Road, Juhu, Mumbai-400049, Maharashtra, India |
|||||||||||||||||||||
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|
|||||||||||||||||||||
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Vasani and Thakkar Chartered Accountant |
|
Address : |
3, Radha Co-operative Housing Society, Teli Galli, Mira Road, Andheri
(East), Mumbai-400069, Maharashtra, India |
|
PAN No.: |
AAAFV1277E |
CAPITAL STRUCTURE
AS ON 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs. 150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5710400 |
Equity Shares |
Rs.10/- each |
Rs. 57.104 Millions |
|
|
|
|
|
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 |
57.104 |
57.104 |
50.104 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
214.667 |
181.084 |
156.632 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
271.771 |
238.188 |
206.736 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
174.639 |
113.528 |
43.593 |
|
|
2] Unsecured Loans |
37.337 |
51.884 |
55.569 |
|
|
TOTAL BORROWING |
211.976 |
165.412 |
99.162 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
483.747 |
403.600 |
305.898 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
255.389 |
208.877 |
133.673 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.850 |
0.850 |
0.850 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
183.667
|
128.695 |
109.938 |
|
|
Sundry Debtors |
85.507
|
80.200 |
80.104 |
|
|
Cash & Bank Balances |
26.864
|
19.103 |
15.325 |
|
|
Other Current Assets |
68.894
|
34.949 |
0.000 |
|
|
Loans & Advances |
45.355
|
33.484 |
23.460 |
|
Total
Current Assets |
410.287
|
296.431 |
228.827 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
70.197
|
49.501 |
90.539 |
|
|
Other Current Liabilities |
74.765
|
28.602 |
0.000 |
|
|
Provisions |
37.817
|
24.455 |
14.064 |
|
Total
Current Liabilities |
182.779
|
102.558 |
104.603 |
|
|
Net Current Assets |
227.508
|
193.873 |
124.224 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
47.151 |
|
|
|
|
|
|
|
|
TOTAL |
483.747 |
403.600 |
305.898 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
431.453 |
|
246.595 |
|
|
|
Other Income |
1.448 |
1.192 |
|
|
|
|
TOTAL |
432.901 |
297.411 |
246.595 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
233.800 |
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
337.248 |
233.800 |
164.187 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
95.653 |
63.611 |
82.408 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
24.442 |
13.968 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
71.211 |
49.643 |
82.408 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
21.910 |
12.700 |
9.973 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
EXCEPTIONAL ITEMS AND TAX |
49.301 |
36.943 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
Loss on sale of
Fixed Assets |
6.554 |
5.533 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
42.747 |
31.410 |
72.435 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
9.164 |
7.316 |
19.377 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
33.583 |
24.094 |
53.058 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
NA |
(50.975) |
|
|
|
|
|
|
|
|
|
Less |
Loss on Fire Assets |
NA |
NA |
0.006 |
|
|
|
Income Tax Earlier Years |
NA |
NA |
0.770 |
|
|
|
Loss on Sale of Assets |
NA |
NA |
0.945 |
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
0.362 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Modified Vehicles |
NA |
8.439 |
39.863 |
|
|
TOTAL EARNINGS |
NA
|
8.439 |
39.863 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials, Spare Parts and Components |
NA |
2.343 |
2.626 |
|
|
TOTAL IMPORTS |
NA |
2.343 |
2.626 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.88 |
-- |
-- |
|
%2012-Feb-2013_files/image001.gif){kind=small}
%2012-Feb-2013_files/image002.gif){kind=small}
%2012-Feb-2013_files/image003.gif){kind=small}
%2012-Feb-2013_files/image004.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
7.76
|
8.10 |
21.51 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.91
|
10.60 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.42
|
6.22 |
19.98 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.13 |
0.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.78
|
0.69 |
0.48 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.24
|
2.89 |
2.19 |
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
No |
|
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 |
No |
|
Unsecured Loan |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
Loans and advances from related parties |
2.030 |
16.577 |
|
Other Loans and advances |
35.307 |
35.307 |
|
|
|
|
|
TOTAL |
37.337 |
51.884 |
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors
|
70.197
|
49.501 |
|
|
Creditors due others |
-- |
-- |
90.539 |
|
|
|
|
|
|
TOTAL |
70.197
|
49.501 |
90.539 |
CORPORATE INFORMATION
The Company is in the
business of manufacturing, modification and designing of automobile, automobile
parts and different types of vehicles. The company also rebuilds and/or
modifies bodies, air-conditioners, audio/video equipments and interiors for
cars, vans, minibuses, campers, jeeps, air craft etc. The company is also in
the manufacture and development of sports car and dealing in art sculpture.
PERFORMANCE REVIEW
During the year
the company made an operative profit before extra ordinary items, depreciation
and tax Rs. 71.211 Millions as against Rs. 49.643 Millions in the previous
year.
The FY 2011-12 was
a milestone in the Company’s history as it unveiled India’s first supercar at
the Auto Expo 2012 at New Delhi. The Company invested substantial amounts into
the first prototype and revealed plans to produce the vehicle in 2013. This
will take the Company into the elite automaker’s club where no brand has been
created for the last 50 years.
This period also
saw the Company ramp up its footprint by opening workshop/ showroom in Gurgaon,
Hyderabad and Chennai. This is only a precursor to several branches that will
be opened in the next period that is necessary to distribute its products
across the country. From the current range of 5-6 standard products, the
Company plans to expand its product range to 20-25 products in the next period,
adding 7 to 8 products each year.
In the year of
review, the Company furthered its range of DC Lounge products to cover the Tata
Aria, the Force Traveller and even more variants of the DC Lounge for the
Innova and the Fortuner.
Several other programs were initiated but would be completed in the
following period.
The Company’s strategic shift towards standard products (Innova,
Fortuner) continued to bear fruit during the year.
During the year the Company’s education venture through an association
with DY Patil Group show good results.
On the OEM side of
the client base, which represents the Company’s B2B clients, Renault, Tata
Motors, Visteon continued to dominate.
The Company’s Art is now displayed in all its showrooms, and grew 3-fold
in the period of review.
FORM 8
|
Corporate
identity number of the company |
U99999MH1993PTC072371 |
|
Name of the
company |
DILIP CHHABRIA
DESIGN PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Keytuo Industrial Compound, Kondivita Road, MIDC, Andheri (East), Mumbai – 400059, Maharashtra, India |
|
This form is for |
Modification of
charge |
|
Charge identification
number of the charge to be modified |
10209765 |
|
Type of charge |
·
Immovable
property |
|
Particular of
charge holder |
State Bank of Hyderabad, Anand Building, 1st Floor, Gandhi Gram Road, Juhu, Mumbai-400049, Maharashtra, India |
|
Nature of
instrument creating charge |
1. Memorandum for
Recording Extension of mortgage by Deposit of Title Deeds |
|
Date of
instrument Creating the charge |
02.06.2012 |
|
Amount secured by
the charge |
Rs. 163.200
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest N.A. Terms of repayment N.A. Margin N.A. Extent and operation of the charge N.A. |
|
Short particulars
of the property charged (Including location of the property) |
Extension
equitable mortgage of Flat No. 1, 1st Floor, Marvel Elan, Situated at Plot
No. 10 and 11, Court Club Road, Pune-411 001. |
|
Whether any of
the property or interest therein under reference is not registered in the
name of the company. |
Yes |
|
If yes, in whose
name it is registers |
Mrs. Kanchan
Chhabria |
|
Date of
instrument modifying the charge |
14.05.2012 |
|
Particulars of
the present modification |
By the present
modification only extension of equitable mortgage created on property situated
at Pune to secure the advance of Rs. 163.200 Millions. |
FIXED ASSETS
·
Plant and Equipment
·
Vehicles
·
Office Equipments
·
Furniture and Fixtures
·
Motor Vehicles
·
Building
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. 53.67 |
|
|
1 |
Rs. 84.84 |
|
Euro |
1 |
Rs. 71.86 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
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 |
6 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
47 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.