MIRA
INFORM REPORT
|
Report Date : |
13.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
MOHAN SPINTEX INDIA LIMITED |
|
|
|
|
Registered
Office : |
D No. 11-40-1, S-1, Chitturi Complex, Pulipartivari, Street Vijaywada,
Vijaywada – 520001, Andhra Pradesh |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
11.05.2005 |
|
|
|
|
Com. Reg. No.: |
01-046188 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.187.541 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U18100AP2005PLC046188 |
|
|
|
|
TIN No.: |
28630189388 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of 100% Cotton Combed Yarn. |
|
|
|
|
No. of Employees
: |
900 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1000000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Unknown |
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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 made available with the government department. As per available detail, the company has performed well during the
current year but there appears some loss. However, trade relations are
reported to be fair. Business is active. Payments are unknown. The company can be considered for business dealings with some caution. Note: The financial
for the year 2011 and 2012 are taken from “ICRA”. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
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 |
LONG TERM RATING : ICRA BB |
|
Rating Explanation |
Having moderate risk of default regarding timely servicing of
financial obligation |
|
Date |
December, 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.
LOCATIONS
|
Registered Office : |
D No. 11-40-1, S-1, Chitturi Complex, Pulipartivari, Street Vijaywada,
Vijaywada – 520001, Andhra Pradesh, India |
|
Tel. No.: |
91-866-2466266/ 2427113 |
|
Fax No.: |
91-866-2426527 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office
: |
Door No.59-14-8, 3rd Floor, Silpa Arcade, Opposite Maris Stella
College, Ramachandra Nagar, Vijayawada – 520008, Andhra Pradesh |
|
Tel. No.: |
91-866-2466266 / 277 / 288 |
|
Fax No.: |
91-866-2466166 |
|
E-Mail : |
|
|
|
|
|
Factory 1 : |
Vattigudipadu, Agiripalli Mandalam, Krishna District – 521211, Andhra Pradesh, India |
|
Tel. No.: |
91-8656-250456/ 250565 |
|
Fax No.: |
91-8656-250453 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
Remalle Village, Bapulapadu Mandal, Krishna District – 521110, Andhra Pradesh, India |
|
Tel. No.: |
91-8656-239555 / 557 / 558 / 559 |
|
Fax No.: |
91-8656-239556 |
|
E-Mail : |
DIRECTORS
As on 28.09.2011
|
Name : |
Mr. Sankar Rao Koneru |
|
Designation : |
Director |
|
Address : |
55-6-16, Krishna Mandir Road, Venkoji Palem, Visakhapatnam – 530022,
Andhra Pradesh, India |
|
Date of Birth/Age : |
15.04.1960 |
|
Date of Appointment : |
31.03.2006 |
|
DIN No.: |
00133956 |
|
|
|
|
Name : |
Mr. Bobba Venkateswararao |
|
Designation : |
Director |
|
Address : |
40-25-18/1, Netaji Street, Patamata, Vijayawada – 520010, Andhra
Pradesh, India |
|
Date of Birth/Age : |
01.01.1960 |
|
Date of Appointment : |
31.03.2006 |
|
DIN No.: |
00161960 |
|
|
|
|
Name : |
Mr. Ravi Kumar Gottimukkala |
|
Designation : |
Director |
|
Address : |
72-5-5, Lakshmi Nursing Home, St. Patamata, Vijayawada – 520010,
Andhra Pradesh, India |
|
Date of Birth/Age : |
29.04.1970 |
|
Date of Appointment : |
11.05.2005 |
|
DIN No.: |
00295152 |
|
|
|
|
Name : |
Mr. Mohan Rao Vallabhaneni |
|
Designation : |
Director |
|
Address : |
59-7-3A, Acharya Ranga Street, Ramachandra Nagar, Vijayawada – 520008,
Andhra Pradesh, India |
|
Date of Birth/Age : |
19.10.1939 |
|
Date of Appointment : |
11.05.2005 |
|
DIN No.: |
00320520 |
|
|
|
|
Name : |
Mr. Sudhakar Chowdary Vallabhaneni |
|
Designation : |
Managing director |
|
Address : |
59-7-3A, Acharya Ranga Street, Ramachandra Nagar, Vijayawada – 520008,
Andhra Pradesh, India |
|
Date of Birth/Age : |
06.06.1969 |
|
Date of Appointment : |
11.05.2005 |
|
DIN No.: |
00320555 |
|
|
|
|
Name : |
Mr. Venkatanjan Kakarala |
|
Designation : |
Director |
|
Address : |
54-14/1-6-1, Srinivasa Nagar, Vijayawada – 520008, Andhra Pradesh,
India |
|
Date of Birth/Age : |
08.02.1962 |
|
Date of Appointment : |
28.09.2011 |
|
DIN No.: |
00680580 |
|
|
|
|
Name : |
Mr. Yantrapragada Bhaskara Rao |
|
Designation : |
Alternate director |
|
Address : |
3-7-10, Rama Nagar, Nidadavole – 534301 |
|
Date of Birth/Age : |
07.07.1939 |
|
Date of Appointment : |
08.07.2005 |
|
DIN No.: |
01777661 |
|
|
|
|
Name : |
Mr. Mohana Kumari Ravella |
|
Designation : |
Director |
|
Address : |
9-63-69, Hameed Street, Vijayawada – 520001, Andhra Pradesh, India |
|
Date of Birth/Age : |
04.05.1959 |
|
Date of Appointment : |
08.08.2008 |
|
DIN No.: |
02303947 |
|
|
|
|
Name : |
Mrs. Padmini Vallabhaneni |
|
Designation : |
Director |
|
Address : |
59-7-3A, Acharya Ranga Street, Ramachandra Nagar, Vijayawada – 520008,
Andhra Pradesh, India |
|
Date of Birth/Age : |
13.06.1970 |
|
Date of Appointment : |
08.08.2008 |
|
DIN No.: |
02317647 |
|
|
|
|
Name : |
Mr. Yantrapragada Subba Rao |
|
Designation : |
Director |
|
Address : |
20990, Valey Green Drive Apartment Cupertno, CA 95014, USA |
|
Date of Birth/Age : |
11.07.1965 |
|
Date of Appointment : |
08.07.2005 |
|
DIN No.: |
03560766 |
|
|
|
|
Name : |
Mr. Pemmasani Prudhvi Kumar |
|
Designation : |
Director |
|
Address : |
29-19-64, Sree Hasa IVF Hospital Dornakal Road, Suryarao Pet,
Vijayawada – 520002, Andhra Pradesh, India |
|
Date of Birth/Age : |
18.07.1963 |
|
Date of Appointment : |
28.09.2011 |
|
DIN No.: |
01744681 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2011
SHAREHOLDING DETAILS FILE ATTACHED
As on 31.03.2012
|
Names of Allottess |
|
No. of Shares |
|
Vallabhaneni Sudhakar Chowdary |
|
726205 |
|
Gottimukkala Hima Bindu |
|
13800 |
|
Bobba Venkateswara Rao |
|
34900 |
|
Koneru Sankar Rao |
|
209200 |
|
Kakarala Venkatanjan |
|
11500 |
|
Yantrapragada Baskar Rao |
|
29863 |
|
Balusu Harichandra Prasad |
|
28500 |
|
Blusu Sirisha |
|
34500 |
|
G Rambabu |
|
28500 |
|
Ravella Raj Kumar |
|
23000 |
|
Akkineni Ravi |
|
20000 |
|
Premmasani Prudhvikumar |
|
3450 |
|
Movva Rama Brahmam |
|
11505 |
|
Total |
|
1174923 |
As on 14.03.2012
LIST OF ALLOTTESS DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2011
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
18.18 |
|
Directors or relatives of Directors |
81.82 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of 100% Cotton Combed Yarn. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
900 (Approximately) |
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Bankers : |
·
Andhra Bank, R. R. Appa Rao, P. B. No. 22, Andhra
Bank Buidlings, Vijayawada – 520001, Andhra Pradesh, India ·
State Bank of India, Patamata Branch ·
Indian Overseas Branch, Ring Road ·
HDFC Bank ·
ICICI Bank |
|||||||||||||||||||||||||||||||||||||||
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|
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Facilities : |
|
|
|
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|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Prasad and Company Chartered Accountants |
|
Address : |
29-13-46, Kaleswara Rao Road, Suryarao Pet, Vijayawada – 520002,
Andhra Pradesh, India |
|
PAN.: |
ACHPP4796K |
CAPITAL STRUCTURE
After 28.09.2011
Authorised Capital : 396.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.362.700 Millions
As on 28.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
31590000 |
Equity Shares |
Rs.10/- each |
Rs.315.900 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
29057746 |
Equity Shares |
Rs.10/- each |
Rs.290.577 Millions |
|
|
|
|
|
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
18990000 |
Equity Shares |
Rs.10/- each |
Rs.189.900 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
18554088 |
Equity Shares |
Rs.10/- each |
Rs.185.541 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
185.541 |
|
|
2] Share Application Money |
|
|
1.999 |
|
|
3] Reserves & Surplus |
|
|
87.257 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
274.797 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
457.350 |
|
|
2] Unsecured Loans |
|
|
12.491 |
|
|
TOTAL BORROWING |
|
|
469.841 |
|
|
DEFERRED TAX LIABILITIES |
|
|
13.887 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
758.525 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
445.695 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
183.798
|
|
|
Sundry Debtors |
|
|
131.610
|
|
|
Cash & Bank Balances |
|
|
4.833
|
|
|
Other Current Assets |
|
|
9.023
|
|
|
Loans & Advances |
|
|
0.000
|
|
Total
Current Assets |
|
|
329.264
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
17.813
|
|
|
Other Current Liabilities |
|
|
0.000
|
|
|
Provisions |
|
|
0.000
|
|
Total
Current Liabilities |
|
|
17.813
|
|
|
Net Current Assets |
|
|
311.451
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
1.379 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
758.525 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1905.100 |
841.700 |
516.267 |
|
|
|
Other Income |
NA |
NA |
2.591 |
|
|
|
TOTAL (A) |
NA |
NA |
518.858 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials |
|
|
299.040 |
|
|
|
Manufacturing, Administrative, Selling and Distribution expenses |
|
|
100.394 |
|
|
|
Miscellaneous Expenses |
|
|
0.392 |
|
|
|
TOTAL (B) |
|
|
399.826 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
119.032 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
NA |
30.175 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
88.857 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
22.858 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
|
|
65.999 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
|
13.318 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(15.800) |
55.300 |
52.681 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
NA |
NA |
2.84 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
NA
|
10.15
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA
|
12.78
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
NA
|
8.52
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
NA
|
0.24
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
NA
|
NA
|
2.91
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
NA
|
NA
|
18.48
|
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 |
No |
|
10] |
Designation of contact person |
No |
|
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 |
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 |
No |
OPERATIONAL PERFORMANCE
The Company is in the process of setting up
Unit-II with a capacity of 41760 Spindles, 1664 Rotors, 10 TFO Machines for
Spinning and Ginning.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U18100AP2005PLC046188 |
||||||||||||
|
Name of the company |
MOHAN SPINTEX
INDIA LIMITED |
||||||||||||
|
Address of the registered office or of the
principal place of business in |
D No. 11-40-1 S-1 Chitturi Complex, Pulipartivari Street, Vijaywada
-520001, Andhra Pradesh, India Email : md@mohanspintex.com |
||||||||||||
|
This form is for |
Modification of charge |
||||||||||||
|
Charge identification (ID) number of the
charge to be modified |
10331963 |
||||||||||||
|
Type of charge |
Immovable
property Book debts Movable property
(not being pledge) |
||||||||||||
|
Particular of charge holder |
Andhra Bank, R. R. Appa Rao, P. B. No. 22, Andhra Bank Buidlings,
Vijayawada – 520001, Andhra Pradesh, India Email : bmvwd606@andhrabank.co.in |
||||||||||||
|
Nature of instrument creating charge |
Composite
Agreement R. F. 255 B Resolution Sanction Letter |
||||||||||||
|
Date of instrument Creating the charge |
29.12.2012 |
||||||||||||
|
Amount secured by the charge |
Rs.399.000
Millions |
||||||||||||
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest CC- Base Rate + 2.25% i.e.12.75% per annum at present SCL – Base Rate + 3.00% + 0.50% TP i.e. 14.00% per annum at present DUBD and FUBD – Base Rate i.e. 10.50% per annum with monthly rests Terms of Repayment OCC repayable on demand The secured corporate loan shall be repayable in 18 quarterly
installments. Margin OCC – 25.00% on inventory 30.00 % on receivable LC/BG, DUBD ag ILC’s FUBD/FBP ag FLCs – 10.00% Extent and Operation of the charge Charge operates full on securities |
||||||||||||
|
Short particulars of the property or
asset(s) charged (including complete address and location of the property) |
Hypothecation of
Stocks and Receivables of the Company both present and future. Export Bills:
Foreign documentary Bills covering export of FG drawn under irrecoverable LCs
from prime Banks/ with tenor not exceeding 180 days. LC/BG: First
pari passu charge on current assets BG: Counter
guarantee of the Company First Charge on documentary
bills covering sale of finished goods, against irrecoverable LCs of Prime
Banks. First Charge on
foreign documentary bills covering export of finished goods, against
irrecoverable LCs of Prime Banks. First Charge on
current assets (both existing and future) of Unit II the Company pari passu
basis with IOB for working capital limits sanctioned by IOB and Andhra Bank Extension of
Charge on the fixed assets (both existing and proposed) of Unit II the
Company pari passu basis with IOB for working
capital limits sanctioned by IOB and Andhra Bank Equitable
Mortgage of Land admeasuring Ac.32.205 cents situated in R.S.Nos. 289/2A1,
289/2B3, 289/2B1, 290/5, 290/6, 290/7, 290/8, 282/1A, 282/2A, 282/1B, 282/2B,
290/1A, 281/2, 281/3, 288/6C, 290/2A, 290/2B, 290/3B, 290/1B, 290/1C, 282/2C,
282/1C, 282/1D, 282/2D, 287/2A, 281/4, 290/9, 290/10, 287/3A, 281/1, 290/1D &
290/4 at Remalle Village, Bapulapadu Mandal, Krishna District along with
buildings Structures and
Super Structures and Constructed and to be Constructed there on. |
||||||||||||
|
Particulars of the present modification |
Overall limits
enhanced from Rs.273.000 Millions to Rs.399.000 Millions (Rs. In Millions)
|
FIXED ASSETS
·
Land
·
Buildings
·
Plant and Machinery
·
Furniture and Fixtures
·
Motor Vehicles
·
Computers
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.53.57 |
|
|
1 |
Rs.84.25 |
|
Euro |
1 |
Rs.71.79 |
INFORMATION DETAILS
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
27 |
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.