MIRA
INFORM REPORT
|
Report Date : |
19.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
ARGUS ELECTRONIC SECURITY SYSTEMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
13-A, 1st Floor,
Bhanushali Building, 35 Mint Road, Opposite GPO, Fort, Mumbai – 400001,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
20.06.2002 |
|
|
|
|
Com. Reg. No.: |
11-136274 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.20.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74920MH2002PTC136274 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Trader of Electronic Security Systems |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (35) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 110000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having a moderate track record. The performance capability of the company appears to be good. The
external borrowings appear to be increasing. Reserves are improving. Trade
relations are reported as fair. Business is active. Payment terms are slow
but correct. The company can be considered for business dealings with some
caution. |
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 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Girish |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-33055555 |
|
Date : |
18.02.2013 |
LOCATIONS
|
Registered Office : |
13-A, 1st Floor,
Bhanushali Building, 35 Mint Road, Opposite GPO, Fort, Mumbai – 400001,
Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
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E-Mail : |
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|
Website : |
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|
|
|
Head Office / Sales Office / Factory : |
Argus Chambers Premises Building, Plot No. G-1, Gate No. 796, Sector 18, Mafco, Vashi (West), Navi Mumbai - 400 707, Maharashtra, India |
|
Tel. No.: |
91-22-33055555 |
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Fax No.: |
91-22-33055556 |
|
E-Mail : |
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Branch Office and Service Centers : |
Located at · Delhi · Chandigarh · Jaipur · Mumbai · Pune · Indore · Nagpur · Ahmedabad · Bangalore · Chennai |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Amar Chetandas Motwani |
|
Designation : |
Director |
|
Address : |
Flat No. 1, Indus Court, Ground Floor, A Road, Churghgate,
Mumbai, 400020, Maharashtra, India |
|
Date of Appointment : |
16.10.2002 |
|
DIN No.: |
00954032 |
|
|
|
|
Name : |
Mr. Chetandas Narumal Motwani |
|
Designation : |
Director |
|
Address : |
Flat No. 1, Indus Court, Ground Floor, A Road, Churghgate,
Mumbai, 400020, Maharashtra, India |
|
Date of Appointment : |
01.04.2003 |
|
DIN No.: |
00954009 |
|
|
|
|
Name : |
Ms. Mehak Amar Motwani |
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Designation : |
Director |
|
Address : |
Flat No. 1, Indus Court, Ground Floor, A Road, Churghgate, Mumbai, 400020, Maharashtra, India |
|
Date of Appointment : |
01.06.2005 |
|
DIN No.: |
00953941 |
|
|
|
|
Name : |
Ms. Asha Chetandas Motwani |
|
Designation : |
Director |
|
Address : |
Flat No. 1, Indus Court, Ground Floor, A Road, Churghgate,
Mumbai, 400020, Maharashtra, India |
|
Date of Appointment : |
01.06.2005 |
|
DIN No.: |
02474566 |
|
|
|
|
Name : |
Mr. Deepak Ramnani |
|
Designation : |
Director |
|
Address : |
34/695, Civil Lines, Near Model English School, Raipur - 492001, Chhattisgarh, India |
|
Date of Birth/Age : |
15.06.1984 |
|
Date of Appointment : |
01.04.2009 |
|
DIN No.: |
02503512 |
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|
|
|
Name : |
Ms. Pooja Ramnani |
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Designation : |
Director |
|
Address : |
34/695, Civil Lines, Near Model English School, Raipur -
492001, Chhattisgarh, India |
|
Date of Birth/Age : |
25.12.1967 |
|
Date of Appointment : |
01.04.2009 |
|
DIN No.: |
02511651 |
KEY EXECUTIVES
|
Name : |
Mr. Girish |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Mehak Amar Motwani |
|
250000 |
|
Chetandas Narumal Motwani |
|
250000 |
|
Amar Chetandas Motwani |
|
250000 |
|
Asha Chetandas Motwani |
|
250000 |
|
Deepak Ramnani |
|
500000 |
|
Pooja Ramnani |
|
500000 |
|
Total |
|
2000000 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Electronic Security Systems |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
·
Union Bank of India, Plot No.142-A, Middle Class
Chs, Panvel, District Raigad – 410206, Maharashtra, India Contact
Person: Mr. R. A Singh (Chief
Manager) Tel
No.: 91-22-27454748 Mobile
No.: 91-8879072730 ·
Oriental Bank of Commerce, Prabhadevi Branch,
Aman Chambers, Veer Savarkar Marg, Opposite New Passport Office, Mumbai -
400025, Maharashtra, India |
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Facilities : |
(Rs.
In Millions)
Notes: SHORT TERM ·
Term
Loan from bank - From Oriental Bank of Commerce repayable in monthly installments. Secured against Assets of the company and personal guarantee of the Directors. With Interest being Charged at 13.40% pa, while the same ceases in September 2013. · Other loans consist of Car loans which ceases in the FY 2016-17, while interest is been charged between 10 % - 12 % pa, while the same are secured against Car Purchased. · Bank O/D has been availed on interest @ 13.65% pa, which has been Secured against Raw Materials, Stock in process, Finished goods, Stores & Spares, Receivable and personal Guarantee of the Directors. ·
Term
Loan from bank - From Oriental Bank of Commerce repayable in monthly installments. Secured against Assets of the company and personal guarantee of the Directors. With Interest being Charged at 13.40% pa, while the same ceases in September 2013 · Other loans consist of Car loans which ceases in the FY 2016-17, while interest is been charged between 10 % - 12 % pa, while the same are secured against Car Purchased. |
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Banking
Relations : |
-- |
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|
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Auditors : |
|
|
Name : |
P.N. Jhamar and Company Chartered Accountants |
|
Address : |
7/E-2, Kalpita Enclave, Sahar Road, Andheri (East), Mumbai – 400004,
Maharashtra, India |
|
PAN No.: |
AAEPJ5398L |
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|
|
|
Associates : |
· Argus Techno (India) Private Limited · Argus Techno (India) Private Limited · Argus CMS services Private Limited · Mahakaal Investment consultants Private Limited ·
Argus Manpower services Private Limited |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000
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 |
20.000 |
20.000 |
10.000 |
|
|
2] Share Application Money |
2.500 |
2.500 |
2.500 |
|
|
3] Reserves & Surplus |
5.536 |
2.949 |
0.754 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
28.036 |
25.449 |
13.254 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
41.226 |
34.086 |
19.596 |
|
|
2] Unsecured Loans |
6.323 |
5.463 |
21.065 |
|
|
TOTAL BORROWING |
47.549 |
39.549 |
40.661 |
|
|
DEFERRED TAX LIABILITIES |
1.129 |
0.727 |
0.233 |
|
|
|
|
|
|
|
|
TOTAL |
76.714 |
65.725 |
54.148 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
58.259 |
48.820 |
41.990 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.170 |
0.170 |
0.170 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
55.834
|
34.966 |
14.961 |
|
|
Sundry Debtors |
36.757
|
48.144 |
11.471 |
|
|
Cash & Bank Balances |
1.377
|
0.770 |
0.755 |
|
|
Other Non-Current Assets |
1.370
|
0.977 |
0.000 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
6.099
|
4.735 |
10.966 |
|
Total
Current Assets |
101.437
|
89.592 |
38.153 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
36.248
|
48.310 |
7.248 |
|
|
Other Current Liabilities |
43.635
|
21.893 |
7.264 |
|
|
Provisions |
3.269
|
2.654 |
11.653 |
|
Total
Current Liabilities |
83.152
|
72.857 |
26.165 |
|
|
Net Current Assets |
18.285
|
16.735 |
11.988 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
76.714 |
65.725 |
54.148 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
173.000 (Approximately) |
119.864 |
102.402 |
|
|
|
Labour Charges |
NA |
14.454 |
11.355 |
|
|
|
Charges – Service Scheme |
NA |
28.523 |
26.880 |
|
|
|
Commission and Other Income |
NA |
0.009 |
0.004 |
|
|
|
TOTAL (A) |
NA |
162.850 |
140.641 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
113.484 |
94.759 |
|
|
|
Director Remuneration |
|
2.460 |
2.370 |
|
|
|
Administrative Expenses |
|
25.803 |
21.558 |
|
|
|
Selling and Distribution Expenses |
|
5.801 |
5.292 |
|
|
|
Balances W/off/W/Back |
|
0.224 |
0.508 |
|
|
|
loss on sale of Motor Car |
|
0.073 |
0.166 |
|
|
|
Loss on Discard Of Fixed Assets |
|
0.305 |
2.971 |
|
|
|
Prior Period expenses |
|
0.053 |
0.072 |
|
|
|
TOTAL (B) |
NA |
148.203 |
127.696 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
14.647 |
12.945 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
NA |
3.287 |
1.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
11.360 |
11.245 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
8.085 |
8.306 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
NA |
3.275 |
2.939 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
NA |
1.080 |
0.913 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
NA |
2.195 |
2.026 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
11.949 |
9.754 |
7.728 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
11.949 |
9.754 |
|
|
|
|
|
|
|
|
|
|
TOTAL IMPORTS |
2.042 |
2.696 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
NA |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA |
1.35 |
1.44 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA |
2.73 |
2.87 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
2.37 |
3.67 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
0.13 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.70 |
1.55 |
3.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.22 |
1.23 |
1.46 |
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 |
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 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 |
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 |
DETAILS OF
UNSECURED LOAN
(Rs. In Millions)
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
LONG TERM |
|
|
|
- Loans from Financial Institution |
0.456 |
0.000 |
|
|
|
|
|
SHORT TERM |
|
|
|
- Loans from Directors and Shareholders |
3.617 |
5.463 |
|
- Loans from Financial Institution |
2.250 |
0.000 |
|
Total |
6.323 |
5.463 |
|
Notes: LONG TERM AND
SHORT TERM Unsecured Loans from financial institutions have been availed on interest in the range of 7% - 8% pa which ceases in June 2013. |
||
NOTE:
The registered office
address of the company has been shifted from “143/145, Khaitan Chambers, Modi Street,
Fort, Mumbai – 400001, Maharashtra, India” to the present address w.e.f.
26.11.2010.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U74920MH2002PTC136274 |
|
Name of the
company |
ARGUS ELECTRONIC SECURITY
SYSTEMS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
13-A, 1st Floor,
Bhanushali Building, 35 Mint Road, Opposite GPO, Fort, Mumbai – 400001,
Maharashtra, India E-mail Id : roc@pnjhamar.co.in |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
10153805 |
|
Type of charge |
Immovable property |
|
Particular of charge
holder |
Oriental Bank of
Commerce, Prabhadevi Branch, Aman Chambers, Veer Savarkar Marg, Opposite New
Passport Office, Mumbai - 400025, Maharashtra, India E-mail Id : emailroc@rediffmail.com |
|
Nature of
instrument creating charge |
No Instrument -
Extension of Deposit of Title Deeds |
|
Date of
instrument Creating the charge |
08.10.2012 |
|
Amount secured by
the charge = |
Rs.48.500
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest Interest rate and
Penal interest rate as agreed between the borrower company and the bank from
time to time. Terms of
Repayment Repayment, as
agreed between the borrower company and the bank from time to time. Margin Margin Rate, as
agreed between the borrower company and the bank from time to time. Extent and
Operation of the charge At the request of
the borrower company , the bank has enhanced overall banking limits upto
Rs.48.500 Millions against Mortgage of the immoveable properties i. e Gala
Nos. 602, 603, 604, 703 and Gala Nos. 201, 202, 203, 204, 205, 206, 207, 208,
301, 303, 304, 306, 307, 402, 403, 404, 501, 502, 503, situated at Village
Turbhe, Taluka Thane. The Charge stands
modified upto Rs.48.500 Millions |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Gala Nos. 602,
603, 604, 703 at Jimmy Chambers, Plot No. G 1, Gat No 769 Part, Gram
Panchayat, Village Turbhe, Taluka and District Thane. Gala Nos. 201, 202, 203, 204, 205, 206, 207, 208,
301, 303, 304, 306, 307, 402, 403, 404, 501, 502, 503 at Jimmy Chambers, Plot
No. G 1, Gat No 769 Part, Gram Panchayat, Village Turbhe, |
|
Particulars of
the present modification |
At the request of
the borrower company , the bank has enhanced overall banking limits upto
Rs.48.500 Millions against Mortgage of the immoveable properties i. e Gala
Nos. 602, 603, 604, 703 and Gala Nos. 201, 202, 203, 204, 205, 206, 207, 208,
301, 303, 304, 306, 307, 402, 403, 404, 501, 502, 503, situated at Village
Turbhe, Taluka Thane The Charge stands
modified upto Rs.48.500 Millions |
FIXED ASSETS
· Office Premises
· Furniture and Fixtures
· Electronic security Equipment
· Computer and Printer
· Office Equipment
· Motor Car
· Air condition
· Projector
· Motor Cycle
· Fax machine
· Mobile Instruments
· Television and DVD player
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.54.29 |
|
|
1 |
Rs.84.09 |
|
Euro |
1 |
Rs.72.44 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
|
35 |
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.