|
Report Date : |
13.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
MAHAONLINE LIMITED |
|
|
|
|
Registered
Office : |
Directorate of Information Technology, Mantralaya
Annexe, 7th Floor, Mumbai – 400032, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
28.07.2010 |
|
|
|
|
Com. Reg. No.: |
11-206026 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.25.527 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72900MH2010PLC206026 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM38558C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAGCM6746G |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
The company in the business of development, maintenance and
management of MahaOnline portal for providing web-based Government to
Citizens (G2C) and Business services. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (66) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 170000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a joint venture between Government of Maharashtra and Tata
Consultancy Services. It is an established company having fine track record. It an
internet-based, online citizen services in the state through the Maharashtra
online. It is an one-stop-shop with end-to-end online processing and delivery
of any citizen services. It is company first year of business operation and
the company is performing well. Networth of the company is good. Trade
relations are reported as fair. Business is active. Payments are reported to
be regular and as per commitment. Since the company is a joint venture of Maharashtra Government and
Tata Consultancy Services. It can be good for normal business dealings at
usual 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 DECLINED
MANAGEMENT NON CO-OPERATIVE
(91-22-42187054)
LOCATIONS
|
Registered Office : |
Directorate of Information Technology, Mantralaya
Annexe, 7th Floor, Mumbai – 400032, Maharashtra, India |
|
Tel. No.: |
91-22-42187054 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 17.09.2012
|
Name : |
Mr. Jayant Kumar Banthia |
|
Designation : |
Nominee Director |
|
Address : |
17, Avanti, Malabar Hill, Mumbai – 400006, Maharashtra,
India |
|
Date of Birth/Age : |
01-06-1953 |
|
Qualification : |
Master’s Degree in Demography from London School of Economics |
|
Date of Appointment : |
14.06.2012 |
|
DIN No.: |
05299550 |
|
|
|
|
Name : |
Mr. Rajesh Madanlal Aggarwal |
|
Designation : |
Nominee Director |
|
Address : |
13, Avanti, Avanti Ambar Building, N. Dabholkar Road,
Malbar Hill Mumbai - 400 006, Maharashtra, India |
|
Date of Birth/Age : |
12-11-1966 |
|
Date of Appointment : |
29.08.2011 |
|
DIN No.: |
03566931 |
|
|
|
|
Name : |
Mr. Barindra Sanyal |
|
Designation : |
Nominee Director |
|
Address : |
B - 21, Bandra Trilok C.H.S., 313, Dr. Ambedkar Road.
Bandra (West), Mumbai - 400 050, Maharashtra, India |
|
Date of Birth/Age : |
19-10-1946 |
|
Date of Appointment : |
28.07.2010 |
|
DIN No.: |
00175046 |
|
|
|
|
Name : |
Mr. Tanmoy Chakrabarty |
|
Designation : |
Nominee Director |
|
Address : |
P 1 – 04, 5th Floor, Block III, Silver Estate, P - 29,
Sector-50, Noida -201305, Uttar Pradesh, India |
|
Date of Birth/Age : |
29-10-1961 |
|
Qualification : |
Bachelors Degree in Commerce and Diploma in Business Management |
|
Date of Appointment : |
28.07.2010 |
|
DIN No.: |
00207066 |
|
|
|
|
Name : |
Mr. Satya Sankar Mishra |
|
Designation : |
Nominee Director |
|
Address : |
1305, 13th Floor, Shivalik Tower, 90ft Rd, Thakur Complex,
Kandivali (East) Mumbai- 400101, Maharashtra, India |
|
Date of Birth/Age : |
06-06-1971 |
|
Qualification : |
B. Tech in Chemical Engineering and Post Graduate Diploma in Business
Management |
|
Date of Appointment : |
18.04.2012 |
|
DIN No.: |
05256338 |
KEY EXECUTIVES
|
Name : |
Mr. Girish Thanwardas Shajani |
|
Designation : |
Secretary |
|
Address : |
Silver Co-Operative Housing Society Limited, A Wing, Flat No.
301. 3rd Floor, Hill Road, Ulhasnagar – 421003, Thane, Maharashtra, India |
|
Date of Birth/Age : |
14-01-1975 |
|
Date of Appointment : |
28.07.2010 |
|
PAN No.: |
AMGPS1259P |
|
|
|
|
Name : |
Mr. Satnam Singh Sethi |
|
Designation : |
Chief Operating Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 17.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Tata Consultancy Services Limited, India |
|
1889000 |
|
Governor, Government of Maharashtra |
|
663700 |
|
Sanjeev Moreshwar Galvankar |
|
1 |
|
Pradeep Manohar Gaitonde |
|
1 |
|
Pankaj Kumar Abhimanyu Kumar Gupta |
|
1 |
|
Suprakash Moniprasad Mukhopadhyay |
|
1 |
|
Girish Thanwardas Shajani |
|
1 |
|
Total
|
|
2552705 |
Equity Share Break up (Percentage of Total Equity)
As on 17.09.2012
|
Category |
|
Percentage |
|
Govt. [Central and State(s)] |
|
26.00 |
|
Bodies corporate |
|
74.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company in the business of development, maintenance and
management of MahaOnline portal for providing web-based Government to
Citizens (G2C) and Business services. |
||||
|
|
|
||||
|
Services : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Heritage, 3rd Floor, Near Gujarat Vidhyapith, Off Ashram
Road, Ahmedabad – 380014, Gujarat, India
|
|
PAN No.: |
AABFD7919A |
|
|
|
|
Ultimate Holding
Company : |
·
Tata Sons Limited |
|
|
|
|
Holding Company : |
· Tata Consultancy Services Limited CIN No.: L22210MH1995PLC084781 |
|
|
|
|
Investing Party : |
· Government of Maharashtra |
|
|
|
|
Fellow Subsidiaries
: |
· Infiniti Retail Limited CIN No.: U31900MH2005PLC158120 · MPOnline Limited CIN No.: U72400MP2006PLC018777 · Drive India Enterprise Solutions Limited CIN No.: U72900MH2000PLC126195 · Tata Teleservices (Maharashtra) Limited CIN No.: L64200MH1995PLC086354 · Tata Teleservices Limited CIN No.:U74899DL1995PLC066685 |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2552705 |
Equity Shares |
Rs.10/- each |
Rs.25.527
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
25.527 |
25.527 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
17.665 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
(1.981) |
|
|
NETWORTH |
|
43.192 |
23.546 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
1.990 |
0.004 |
|
|
|
|
|
|
|
|
TOTAL |
|
45.182 |
23.550 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
13.841 |
0.082 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.000 |
0.000 |
|
|
Sundry Debtors |
|
699.341 |
0.000 |
|
|
Cash & Bank Balances |
|
157.643 |
25.118 |
|
|
Other Current Assets |
|
0.192 |
0.176 |
|
|
Loans & Advances |
|
54.685 |
0.183 |
|
Total
Current Assets |
|
911.861 |
25.477 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
660.590 |
1.967 |
|
|
Other Current Liabilities |
|
211.773 |
0.042 |
|
|
Provisions |
|
8.157 |
0.000 |
|
Total
Current Liabilities |
|
880.520 |
2.009 |
|
|
Net Current Assets |
|
31.341 |
23.468 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
45.182 |
23.550 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
919.060 |
0.000 |
|
|
|
Other Income |
|
0.518 |
0.176 |
|
|
|
TOTAL (A) |
|
919.578 |
0.176 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Other Expenses |
|
884.549 |
2.147 |
|
|
|
TOTAL (B) |
|
884.549 |
2.147 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
35.029 |
(1.971) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
2.682 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
32.347 |
(1.971) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
2.516 |
0.005 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
29.831 |
(1.976) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
10.186 |
0.005 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
19.645 |
(1.981) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
7.70 |
(0.78) |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
|
2.14 |
(1125.57) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
3.25 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
3.22 |
(7.73) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.69 |
(0.08) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.04 |
12.68 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS:
(Rs.
In Millions)
|
Particulars
|
|
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
Trade Payable |
|
660.590 |
1.967 |
|
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 |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last two years |
Yes |
|
12] |
Profitability for last two years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
No |
|
24] |
Banking facility details |
No |
|
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 |
No |
NATURE OF OPERATIONS
Subject was incorporated on July 28, 2010 and the date of commencement of business was September 3, 2010. The Company was incorporated to carry on the business of development, maintenance and management of MahaOnline portal for providing web-based Government to Citizens (G2C) and Business services.
FINANCIAL PERFORMANCE
The Company has recorded a total revenue of Rs.919.600 Millions for the financial year ended March 31, 2012, as against, Rs.0.200 Million in the previous period ended March 31, 2011. The Company has recorded the Profit Before Tax (PBT) at crore against a loss of Rs.2.000 Millions in the previous period. After a provision for Tax of Rs.10.200 Millions, Profit After Tax is Rs.19.600 Millions for the year ended March 31, 2012.
OPERATIONS OVERVIEW
During the year, Company has commenced its operations by launching web portal www.mahaonline.gov.in for providing sixteen online Citizen Services, such as Age, Nationality and Domicile, Birth Certificate, Death Certificate, Income Certificate, Caste Certificate, Senior Citizen Certificate, Residence Certificate, VJNT Certificate, Solvency Certificate etc. The Company is aiming to provide more online services for the convenience of Citizens. Currently, Company is providing these services through 750+ Common Service Centres in Nagpur division.
The Company has undertaken and executed various Government departmental projects on time, namely, Maharashtra State Road Development Corporation (MSRDC), Investor facilitation portal - "mahaebiz.com", Maharashtra State Excise, Maharashtra Prathmik Shiksha Parishad (SSA Project), Rajmata Jijau Kuposhanmukt Gram Abhiyan and many more.
The Company is executing one of the largest MMP project, first of its kind in India, e-PRI project (ePanchayat) in timely and efficient manner for which the Company has received appreciation letter from, Rural Development & Panchayati Raj Department. The Company has taken ISO 9001-2008 certification for Gram Seva kendra's and is ready to provide thirteen citizen centric services online from all the 20000+ gram seva kendra's.
The company has implemented Online Human Resource Management Software (HRMS) at Mantralaya and is in process of digitization of service book and also implementing online leave application for Mantralaya employees and all employees of Rural Development Department.
The Company's initiatives in achieving improved gender diversity has led to about 40% women associates as part of the workforce.
Competency and career development continues to be thrust areas for the company, giving opportunity to every employee to upgrade his / her skill set.
FIXED ASSETS:
· Computers and Accessories
· Office Equipments
PRESS RELEASE:
THE GOVERNMENT OF MAHARASHTRA AND TCS LAUNCH MAHAONLINE PORTAL
INTERNET-BASED SYSTEM PLANS TO DELIVER 300 END-TO-END CITIZEN SERVICES
ACROSS THE STATE
MUMBAI, MARCH 11, 2010:
Tata Consultancy Services
(BSE: TCS.BO, NSE: TCS.NS), the leading IT services, business solutions and
outsourcing firm and the Government of Maharashtra announced that the two
parties had formed a joint-venture to launch internet-based, online citizen
services in the state through the Maharashtra Online.
The Maharashtra Online
portal will be a ‘one-stop-shop' with end-to-end online processing and delivery
of any citizen’s request for services by the respective authorities at state,
district and Taluka level headquarters. The JV plans to roll out around 40
citizen services across 15 departments in the first year of operations and
eventually increase this to 300 different services. The same will be available
in Marathi and English languages.
To ensure seamless
processing of requests from citizens of the state and provide a high level of
service delivery, the citizen service portal (www.Mahaonline.gov.in ) will be
integrated at the back-end with DigiGOV, the state-of-the-art framework
solution developed by TCS. This will provide an electronic gateway into the
State Government’s portfolio of services to citizens and businesses.
Ashok Chavan, Chief Minister of Maharashtra, said “Launch of Mahaonline will help the government administration to
become more efficient and transparent. The digitization process of government
files enhance decision making. Citizens will have easy access of information
and services through the portal which will have user friendly features.
Additionally call centers will be set up to provide information on government
services. All these initiatives will propel Maharashtara’s position in
eGovernance initiatives in the country.”
N Chandrasekaran, CEO and MD, Tata Consultancy Services, said, “TCS will help the Government of Maharashtra
realize its vision to provide integrated services to the citizens through use
of information and communication technologies to enhance speed, convenience,
transparency for users. Maharashtra Online is a unique project that integrates the
front end citizen portal with back end DigiGOV making it the first of its kind
on this scale by any state Government in India.”
Maharashtra Online will be
a 10 year JV with TCS holding 74% per cent equity and the Government of
Maharashtra holding 26%. The project will be rolled out on the current IT
infrastructure of the State Government.
The JV will also provide
DigiGOV framework for increasing the intra office efficiencies across the state
administration. In phase one, all departments of the state secretariat will
convert paper files into e-files, create processes, and track the file till
decision making is completed on a real time basis. This has the potential to
reduce the number of steps and time needed to process requests.
The DigiGOV solution also
provides a Dashboard to the senior management to keep a tab on the efficiency
in decision making and quality of decision making in addition to monitoring the
pace of processing through the use of inbuilt alert systems and reports. This
would lead to integration and seamless exchange of information across
departments on a need-to-know basis with decision support system.
About Tata Consultancy Services Limited (TCS)
Tata Consultancy Services
is an IT services, business solutions and outsourcing organization that
delivers real results to global businesses, ensuring a level of certainty no
other firm can match. TCS offers a consulting-led, integrated portfolio of IT
and IT-enabled services delivered through its unique Global Network Delivery
Model, recognized as the benchmark of excellence in software development.
A part of the Tata Group,
India’s largest industrial conglomerate, TCS has over 149,000 of the world's
best trained IT consultants in 42 countries. The Company generated consolidated
revenues of US $6 billion for fiscal year ended 31 March 2009 and is listed on
the National Stock Exchange and Bombay Stock Exchange in India.
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.53.96 |
|
|
1 |
Rs.84.49 |
|
Euro |
1 |
Rs.72.23 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
66 |
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.