|
Report Date : |
15.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
PALLAZZIO HOTELS
AND LEISURE LIMITED (w.e.f.16.03.2007) |
|
|
|
|
Formerly Known
As : |
EXOTIC FINVEST LIMITED EXOTIC FINVEST PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Phoenix Mills
Premises, 462, Senapati Bapat Marg, Lower Parel Mumbai – 400013, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
16.02.1995 |
|
|
|
|
Com. Reg. No.: |
11-085664 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 120.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U67120MH1995PLC085664 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUME06245B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACE9592J |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in developing, operating and maintaining hotel
business. |
|
|
|
|
No. of Employees
: |
Information declined by the management
|
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 8430000 |
|
|
|
|
Status : |
Yet to commence business operation |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of the “Phoenix Mills Limited”. It is a well established and reputed hotel having a moderate track
record. The company has not yet commenced its business operation. Mr. Irfan Chiniwas, has denied to part any information about the
subject company. However, networth of the company appears to be strong. The company
gets good support from its holding company. Trade relations are reported to be fair. Business is active. Payments
are reported to be unknown. The company can be considered for business dealings with slight
caution. |
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
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term Bank facilities : (CARE) BBB- |
|
Rating Explanation |
Having moderate degree of safety regarding
timely servicing of financial obligation. It carry moderate credit risk. |
|
Date |
October 2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
|
Name : |
Mr. Irfan Chiniwas |
|
Contact No.: |
91-9619294829 |
|
Date : |
07.02.2013 |
LOCATIONS
|
Registered Office : |
Phoenix Mills
Premises, 462, Senapati Bapat Marg, Lower Parel Mumbai – 400013, Maharashtra,
India |
|
Tel. No.: |
91-22-30016600/ 24964307/ 8/ 9 |
|
Fax No.: |
91-22-30016818/ 24938388 |
|
E-Mail : |
|
|
|
|
|
Corporate Office : |
2nd Floor, R.R. Hosiery
Building, Shree Laxmi Woollen Mills Estate, Opposite Shakti Mills, Off Dr. E.
Moses Road, Mahalaxmi, Mumbai – 400011, Maharashtra, India |
|
Tel. No.: |
91-22-30016600 |
|
Fax No.: |
91-22-30016818 |
DIRECTORS
AS ON 12.09.2012
|
Name : |
Mr. Shishir Ashok Shrivastava |
|
Designation : |
Managing director |
|
Address : |
1/1 Prakash C.H.S., Relief Road, Santacruz (West), Mumbai – 400054,
Maharashtra, India |
|
Date of Birth/Age : |
09.03.1976 |
|
Date of Appointment : |
13.12.2006 |
|
DIN No.: |
01266095 |
|
|
|
|
Name : |
Mr. Avinash Nivrutti Bhosale |
|
Designation : |
Nominee director |
|
Address : |
Abeey’s Palace, Ivery Estate, S. No. 13, Baner Road, Behind Hotel
Green Park, Pune – 411008, Maharashtra, India |
|
Date of Birth/Age : |
15.12.1960 |
|
Date of Appointment : |
30.06.2009 |
|
DIN No.: |
00037311 |
|
|
|
|
Name : |
Mr. Amit Avinash Bhosale |
|
Designation : |
Nominee director |
|
Address : |
Abeey’s Palace, Ivery Estate, S. No. 13, Baner Road, Behind Hotel Green
Park, Pune – 411008, Maharashtra, India |
|
Date of Birth/Age : |
25.11.1982 |
|
Date of Appointment : |
30.06.2009 |
|
DIN No.: |
00062354 |
|
|
|
|
Name : |
Mr. Pramod Somaji Rawool |
|
Designation : |
Nominee director |
|
Address : |
401, 4th Floor, B-A/4 Anamay CHS, Kanchanpusup, Ghodbander
Road, Thane (West) – 400601, Maharashtra, India |
|
Date of Birth/Age : |
26.01.1954 |
|
Date of Appointment : |
06.05.2009 |
|
DIN No.: |
00087466 |
|
|
|
|
Name : |
Mr. Kiran Bhailal Gandhi |
|
Designation : |
Director |
|
Address : |
101, Ganga Niwas Co-operative Housing, R.M. Road, Vile Parle, Mumbai –
400057, Maharashtra, India |
|
Date of Birth/Age : |
05.08.1945 |
|
Date of Appointment : |
13.12.2006 |
|
DIN No.: |
00339111 |
|
|
|
|
Name : |
Mr. Pradumna Kanodia |
|
Designation : |
Nominee director |
|
Address : |
A/103, Raj Kamal Heights, Opposite Ashoka Towers, Near Gandhi
Hospital, Raj Kamal Studio Comp, Parel, Mumbai – 400012, Maharashtra, India |
|
Date of Birth/Age : |
02.09.1964 |
|
Date of Appointment : |
29.06.2011 |
|
DIN No.: |
01602690 |
|
|
|
|
Name : |
Mr. Jaswinder Singh Oberai |
|
Designation : |
Nominee director |
|
Address : |
47, Chemin De Tirelonge, 1213, Onex, Geneve 27 |
|
Date of Birth/Age : |
27.05.1968 |
|
Date of Appointment : |
29.12.2008 |
|
DIN No.: |
02120220 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 12.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
The Phoenix Mills Limited, India |
|
1199993 |
|
The Phoenix Mills Limited jointly with Ashok Kumar Ruia |
|
1 |
|
The Phoenix Mills Limited jointly with Atul Ruia |
|
1 |
|
The Phoenix Mills Limited jointly with Market City Resource Private
Limited, India |
|
1 |
|
The Phoenix Mills Limited jointly with Ashok Apparels Private Limited,
India |
|
1 |
|
The Phoenix Mills Limited jointly with Amla Ruia |
|
2 |
|
The Phoenix Mills Limited jointly with Gayatri Ruia |
|
1 |
|
|
|
|
|
Total |
|
1200000 |
AS ON 12.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in developing, operating and maintaining hotel
business. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|||||||||||||||||||||
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|
|
|||||||||||||||||||||
|
Bankers : |
Ø
Corporation Bank Ø
Yes Bank Limited Ø
Bank of India Ø
Canara Bank Ø
Saraswat Co-operative Bank Ø HDFC Limited |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
Aditya Birla Finance Limited, Indian Rayon Compound, Veraval – 362266,
Gujarat, India |
|
|
|
|
Auditors : |
|
|
Name : |
Haribhakti and
Company Chartered Accountants |
|
Address : |
42, Free Press House, 215, Nariman Point, Mumbai – 400021,
Maharashtra, India |
|
Tel. No.: |
91-22-61326999 |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFH2010F |
|
|
|
|
Holding Company : |
The Phoenix Mills Limited [L17100MH1905PLC000200] |
|
|
|
|
Fellow Subsidiary Company : |
Market City Resources Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,200,000 |
Equity Shares |
Rs. 100/- each |
Rs. 120.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,200,000 |
Equity Shares |
Rs. 100/- each |
Rs. 120.000 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 |
120.000 |
120.000 |
120.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1987.383 |
2003.553 |
1943.151 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(0.830) |
|
|
NETWORTH |
2107.383 |
2123.553 |
2062.321 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
5155.306 |
3279.063 |
1250.000 |
|
|
2] Unsecured Loans |
1621.762 |
1017.742 |
1178.421 |
|
|
TOTAL BORROWING |
6777.068 |
4296.805 |
2428.421 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
8884.451 |
6420.358 |
4490.742 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
31.799 |
2.739 |
2.740 |
|
|
Capital work-in-progress |
8737.996 |
5734.410 |
4372.458 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.025 |
0.000 |
82.176 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
57.394
|
0.000 |
0.000 |
|
|
Sundry Debtors |
0.000
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
46.999
|
438.509 |
65.649 |
|
|
Other Current Assets |
134.076
|
204.667 |
0.274 |
|
|
Loans & Advances |
296.050
|
222.300 |
15.606 |
|
Total
Current Assets |
534.519
|
865.476 |
81.529 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
272.037 |
157.077 |
31.079 |
|
|
Other Current Liabilities |
144.233
|
17.955 |
16.045 |
|
|
Provisions |
3.618
|
7.235 |
1.037 |
|
Total
Current Liabilities |
419.888
|
182.267 |
48.161 |
|
|
Net Current Assets |
114.631
|
683.209 |
33.368 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
8884.451 |
6420.358 |
4490.742 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
0.000 |
0.000 |
0.000 |
|
|
|
Other Income |
0.002 |
0.000 |
0.000 |
|
|
|
TOTAL (A) |
0.002 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee Benefit Expenses |
2.463 |
0.838 |
0.000 |
|
|
|
Other Expenses |
9.566 |
11.259 |
0.000 |
|
|
|
TOTAL (B) |
12.029 |
12.097 |
0.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(12.027) |
(12.097) |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(12.027) |
(12.097) |
0.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
4.143 |
1.055 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(16.170) |
(13.152) |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER
TAX (G-H) (I) |
(16.170) |
(13.152) |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(13.48) |
(10.96) |
0.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(808500.00)
|
0.00
|
0.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.00
|
0.00
|
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(2.86)
|
(1.51)
|
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.01)
|
(0.01)
|
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
3.22
|
2.02 |
1.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.27
|
4.75 |
1.69 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
Sundry Creditors – Others |
272.037 |
157.077 |
31.079 |
|
|
|
|
|
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
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 |
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 |
No |
UNSECURED LOANS
|
Unsecured Loans |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
635294 Zero Coupon Compulsory Convertible Debenture Series “A” of Rs.
100 each |
63.529 |
63.530 |
|
769400 Zero Coupon Compulsory Convertible Debenture Series “B” of Rs.
100 each |
76.944 |
76.944 |
|
407703 Zero Coupon Compulsory Convertible Debenture Series “D” of Rs.
100 each |
40.770 |
40.770 |
|
Loan from Body Corporate |
627.779 |
627.779 |
|
Loans repayable on demand from Sponsor |
812.740 |
208.719 |
|
Total |
1621.762 |
1017.742 |
REVIEW OF
OPERATIONS:
The Company’s
project consisting of the construction of the five-star Shangri-La Hotel in
Mumbai has received the much awaited Occupancy Certificate and Operational
Licenses such as Shops and Establishment, Lift NOC’s, Food Safety, Health
Licenses and Police Licenses which are mandatory for commencement of the Hotel
Operations. The MOEF clearance is currently in process, post which the Company
will commence operations of the Shangri-La hotel.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U67120MH1995PLC085664 |
|
Name of the
company |
PALLAZZIO HOTELS
AND LEISURE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Phoenix Mills
Premises, 462, Senapati Bapat Marg, Lower Parel Mumbai – 400013, Maharashtra,
India |
|
This form is for |
Creation of charge |
|
Type of charge |
Uncalled share capital Book debts Movable property (not being pledge) Floating charge Others [Subservient charge on hypothecated assets] |
|
Particular of
charge holder |
Aditya Birla Finance Limited, Indian Rayon Compound, Veraval – 362266,
Gujarat, India Email: muthiah.ganapathy@adityabirla.com
CIN No.: U65990GJ1991PLC064603 |
|
Date of
instrument Creating the charge |
18.07.2012 |
|
Amount secured by
the charge |
Rs. 750.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 13.65% Terms of Repayment Bridge Loan
repayable within 13 months. Margin NIL |
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2012 |
31.03.2011 |
|
Guarantees given by the company for EPCG license which comprises of
Custom duty saved margin and interest there on. |
351.491 |
218.459 |
FIXED ASSETS:
Ø Building
Ø Computers
Ø Vehicles
Ø Office Equipments
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. 53.87 |
|
|
1 |
Rs. 83.59 |
|
Euro |
1 |
Rs. 72.38 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
36 |
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.