MIRA
INFORM REPORT
|
Report Date : |
21.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
TOPWORTH STEELS AND POWER PRIVATE LIMITED (w.e.f.07.04.2008) |
|
|
|
|
Formerly Known
As : |
TOPWORTH STEELS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Raheja Centre, Off No. 4214, Free Press Journal Marg, Nariman Point,
Mumbai – 400021, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
18.05.2004 |
|
|
|
|
Com. Reg. No.: |
11-146381 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.469.088 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51420MH2004PTC146381 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUT11594C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCT0878L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
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|
Line of Business
: |
Manufacturer of Sponge Iron, Power and Steel |
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|
|
|
No. of Employees
: |
Information Denied by 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 13500000 |
|
|
|
|
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
financial are not made available with the government department. As per previous year’s record, the company performance seems to be
good. 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 some
cautions. |
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 |
CARE |
|
Rating |
LONG TERM BANK FACILITIES : CARE BB+ |
|
Rating Explanation |
Having moderate risk of default regarding
timely servicing of financial obligation. |
|
Date |
January, 2012 |
|
Rating Agency Name |
CARE |
|
Rating |
SHORT TERM BANK FACILITIES : CARE A4+ |
|
Rating Explanation |
Having minimal degree of safety regarding
timely payments of financial obligation it carry very high credit risk and
are susceptible to default. |
|
Date |
January, 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 DECLINE BY
|
Name : |
Mr. Manindra Sharma |
|
Designation : |
Finance and Accounting Manager |
LOCATIONS
|
Registered Office : |
Raheja Centre, Off No. 4214, Free Press Journal Marg, Nariman Point,
Mumbai – 400021, Maharashtra, India |
|
Tel. No.: |
91-22-22841414 |
|
Fax No.: |
91-22-22840211/22880141 |
|
E-Mail : |
|
|
Website : |
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|
|
|
|
Corporate Office : |
308, 3rd Floor, Ceejay House, Dr. Annie Besant Road, Worli,
Mumbai – 400018, Maharashtra, India |
|
Tel. No.: |
91-22-24812000 |
|
Fax No.: |
91-22-24812122 |
|
|
|
|
Works /
Marketing Department : |
Borai Industrial Growth Centre, Village Rasmada, District Durg - 491001,
Chattisgarh, India |
|
Tel. No.: |
91-788-2617357/2617362/2617363/2617364/2617210 |
|
Fax No.: |
91-788-2617358 |
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E-Mail : |
|
|
|
|
|
Domestic Office : |
Located At · Khopoli ·
Mumbai |
DIRECTORS
As on 25.09.2012
|
Name : |
Mr. Abhay Narendra Lodha |
|
Designation : |
Chairman |
|
Address : |
602, Vaitarna, Sir Pochkhanwala Road, Worli Seaface, Worli, Mumbai –
400030, Maharashtra, India |
|
Date of Birth/Age : |
01.06.1971 |
|
Date of Appointment : |
01.04.2009 |
|
DIN No.: |
00052194 |
|
|
|
|
Name : |
Mr. Nitin Golchha |
|
Designation : |
Director |
|
Address : |
SM 59, Ward – 43, Padmanbhpur, Durg – 491001, |
|
Date of Birth/Age : |
13.09.1978 |
|
Date of Appointment : |
02.01.2006 |
|
DIN No.: |
01669634 |
|
|
|
|
Name : |
Mr. Ashwin Narendra Lodha |
|
Designation : |
Additional Director |
|
Address : |
603, Vaitarna, Sir Pochkhanwala Road, Worli Seaface, Worli, Mumbai –
400030, Maharashtra, India |
|
Date of Appointment : |
10.05.2010 |
|
DIN No.: |
00066948 |
|
|
|
|
Name : |
Mr. Surendra Champalal Lodha |
|
Designation : |
Director |
|
Address : |
Narayandevi Shopping Complex, Pushpalata Bendale Chowk, Jalgaon - 425001, Maharashtra, India |
|
Date of Appointment : |
10.05.2010 |
|
DIN No.: |
00044782 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 25.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Abhay Narendra Lodha |
|
1 |
|
Crest Steel and Power Private Limited, India |
|
80746922 |
|
Total |
|
80746923 |
List of Allottees
As on 31.12.2013
|
Names of Allottees |
|
No. of Shares
Allotted |
|
|
|
|
|
Crest Steel and Power Private Limited, India |
|
1250000 |
|
Total |
|
1250000 |
As on 25.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Sponge Iron, Power and Steel |
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Products : |
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PRODUCTION STATUS
As on 31.03.2011
|
Particulars |
|
Unit |
Installed
Capacity |
Actual
Production |
|
Sponge Iron |
|
MT |
165,000 |
143250.430 |
|
MS Billets |
|
MT |
144,000 |
131165.700 |
|
MS Structure |
|
MT |
144,000 |
82995.532 |
|
Power |
|
Units |
144000000 |
159522655 |
GENERAL INFORMATION
|
No. of Employees : |
Information Denied by Management |
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Bankers : |
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||||||||||||||||||
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Financial Services : |
·
Ge Capital Transportation Financial Services Limited,
Aifacs Building, 1, Rafi Marg, New Delhi – 110001, India |
||||||||||||||||||
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Facilities : |
|
|
Banking
Relations : |
-- |
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|
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|
Auditors : |
|
|
Name : |
Jain and Chhoriya Chartered Accountants |
|
Address : |
59 Gaya Building, 4th Floor, Yusuf Mehar Ali Road, Masjid Bunder, Mumbai - 400003, Maharashtra, India |
|
Mobile No.: |
91-9320278797 |
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Fax No.: |
|
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PAN No.: |
AADFJ9495M |
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|
|
|
Holding Company : |
· Crest Steels and Power Private Limited CIN NO.: U27109CT2004PTC016643 |
|
|
|
|
Subsidiaries : |
· Topworth Energy Private Limited CIN NO.: U40108MH2007PTC167396 · Topworth Energy Mozambique Limited · Topwoth Metals South Africa Proprietary Limited · Topworth Steels and Power Singapore Pte Limited ·
Topworth International Steels Dmcc, Dubai |
CAPITAL STRUCTURE
After 25.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
90000000 |
Equity shares |
Rs.10/- each |
Rs.900.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
81996923 |
Equity shares |
Rs.10/- each |
Rs.819.969
Millions |
|
|
|
|
|
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
47000000 |
Equity shares |
Rs.10/- each |
Rs.470.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
46908846 |
Equity shares |
Rs.10/- each |
Rs.469.088
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
469.088 |
428.350 |
673.760 |
|
|
2] Share Application Money |
999.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1929.863 |
1211.632 |
832.586 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
3397.951 |
1639.982 |
1506.346 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2170.432 |
1647.026 |
1640.916 |
|
|
2] Unsecured Loans |
1774.608 |
1669.705 |
616.705 |
|
|
TOTAL BORROWING |
3945.040 |
3316.731 |
2257.621 |
|
|
DEFERRED TAX LIABILITIES |
327.512 |
281.673 |
149.086 |
|
|
|
|
|
|
|
|
TOTAL |
7670.503 |
5238.386 |
3913.053 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2940.114 |
2930.107 |
1820.993 |
|
|
Capital work-in-progress |
382.386 |
159.087 |
867.580 |
|
|
|
|
|
|
|
|
INVESTMENT |
1434.958 |
184.101 |
53.481 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
4123.631
|
2114.250 |
1576.715 |
|
|
Sundry Debtors |
3216.004
|
2720.128 |
967.335 |
|
|
Cash & Bank Balances |
24.271
|
15.721 |
31.062 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
1863.120
|
1521.117 |
991.772 |
|
Total
Current Assets |
9227.026
|
6371.216 |
3566.884 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
5948.226
|
4181.551 |
1549.841 |
|
|
Other Current Liabilities |
164.884
|
91.447 |
797.123 |
|
|
Provisions |
202.204
|
134.753 |
50.838 |
|
Total
Current Liabilities |
6315.314
|
4407.751 |
2397.802 |
|
|
Net Current Assets |
2911.712
|
1963.465 |
1169.082 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
1.333 |
1.626 |
1.917 |
|
|
|
|
|
|
|
|
TOTAL |
7670.503 |
5238.386 |
3913.053 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
9626.093 |
6226.617 |
|
|
|
Other Income |
|
35.309 |
34.587 |
|
|
|
TOTAL (A) |
13486.200 |
9661.402 |
6261.204 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Raw Materials Consumed |
|
2047.110 |
2194.528 |
|
|
|
Stores & Spares Consumed |
|
72.406 |
67.228 |
|
|
|
Purchase of Finished Goods - Trading |
|
5742.884 |
2626.566 |
|
|
|
Manufacturing Expenses |
|
528.716 |
367.244 |
|
|
|
Excise Duty & Taxes |
|
322.884 |
430.808 |
|
|
|
Employees Cost & Benefits |
|
95.536 |
61.863 |
|
|
|
Selling & Administrative Expenses |
|
70.958 |
85.006 |
|
|
|
Preliminary Expenses Written off |
|
0.292 |
0.292 |
|
|
|
Increase / (Decrease) in Stock |
|
(58.321) |
(241.369) |
|
|
|
TOTAL (B) |
12202.300 |
8822.465 |
5592.166 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1283.900 |
838.937 |
669.038 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
650.500 |
378.768 |
329.359 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
633.400 |
460.169 |
339.679 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
160.700 |
138.688 |
86.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
472.700 |
321.481 |
252.979 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(21.500) |
187.845 |
106.726 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
494.200 |
133.636 |
146.253 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
10.54 |
3.45 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.00
|
1.38 |
2.34 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
3.34 |
4.06 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.89
|
3.46 |
4.70 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14
|
0.20 |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.16
|
2.02 |
1.50 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.46
|
1.45 |
1.49 |
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
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 |
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 |
Yes |
AMALGAMATION
The company has filed the petition before the Hon`ble High Court, Mumbai for merger with Holding Company M/s Crest Steels and Power Private Limited (Transferee Company).
CONTINGENT LIABILITY (AS ON 31.03.2011)
Provisions are recognized in the accounts in respect of present probable obligations, the amount of which can be reliably Contingent Liabilities are disclosed in respect of possible obligations that arise from past events but their existence is confirmed by the occurance or non-occurance of one or more uncertain future events not wholly within the control of the company.
Contingent Liabilities not acknowledged for as on 31.03.2011 are as follows : Central Excise and Excise duty 365906/-F.Y. 2007-08 Deputy Commissioner, Division II, Bhilai Customs Act, 1944
|
Name of Statute |
Nature of Dues |
Amount (Rs. In Millions) |
Period to which
Notice |
Forum where the
dispute is pending |
|
Central Excise and Customs Act, 1944 |
Excise duty |
0.413 |
F.Y. 2005-06 |
Senior Member - Appeal Branch, CESTAT - Delhi |
|
Central Excise and Customs Act, 1944 |
Excise duty |
0.143 |
F.Y. 2006-07 |
Asstt. Commissioner, Division II, Bhilai |
|
Central Excise and Customs Act, 1944 |
Service tax |
0.526 |
F.Y. 2006-07 |
CESTAT - Delhi |
|
Central Excise and Customs Act, 1944 |
Excise duty |
0.449 |
F.Y. 2006-07 |
CESTAT – Delhi |
|
Central Excise and Customs Act, 1944 |
Excise duty |
14.221 |
F.Y. 2006-07 |
Office of Commissioner, Raipur |
|
Central Excise and Customs Act, 1944 |
Excise duty |
4.916 |
F.Y. 2007-08 |
Office of Commissioner, Raipur |
|
Central Excise and Customs Act, 1944 |
Service tax |
0.112 |
F.Y. 2008-09 |
Office of Commissioner, Raipur |
|
Central Excise and Customs Act, 1944 |
Excise duty |
4.193 |
F.Y. 2008-09 |
Office of Commissioner, Raipur |
|
Central Excise and Customs Act, 1944 |
Excise duty |
11.881 |
F.Y. 2008-09 |
CESTAT - Delhi |
|
Central Excise and Customs Act, 1944 |
Excise duty |
0.049 |
F.Y. 2008-09 |
Deputy Commissioner, Division II, Bhilai |
|
Central Excise and Customs Act, 1944 |
Service tax |
0.128 |
F.Y. 2009-10 |
Asstt. Commissioner, Division II, Bhilai |
|
Central Excise and Customs Act, 1944 |
Excise duty |
2.629 |
F.Y. 2009-10 |
Office of Commissioner, Raipur |
|
Central Excise and Customs Act, 1944 |
Excise duty |
20.427 |
F.Y. 2010-11 |
Office of Commissioner, Raipur |
The Company has given Bank Guarantee in favour of Coal India Limited, Kolkata of Rs. 15.410 Millions against Coal linkage.
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2011 (Rs.
in Millions) |
As
on 31.03.2010 (Rs.
in Millions) |
|
|
|
|
|
Other Debt |
1774.608 |
1669.705 |
|
Total |
1774.608 |
1669.705 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U51420MH2004PTC146381 |
|
Name of the
company |
TOPWORTH STEELS
AND POWER PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Raheja Centre, Off No. 4214, Free Press Journal Marg, Nariman Point,
Mumbai – 400021, Maharashtra, India |
|
This form is for |
Creation of charge |
|
Type of charge |
· Book debts · Movable property (not being pledge) ·
Others (Charge on all current assets of the
Company.) |
|
Particular of
charge holder |
The Cosmos Co-Operative Bank Limited, 36A, Maru Niketan, D. L. Vaidya Road, Dadar (West), Mumbai - 400028, Maharashtra, India |
|
Nature of
instrument creating charge |
Deed of Hypothecation
of stock, book debts and Machinery dated 14.01.2013 |
|
Date of
instrument Creating the charge |
14.01.2013 |
|
Amount secured by
the charge |
Rs..410.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit: 14% Terms of Repayment Repayable on
demand/ Review within 12 months Margin Letter of Credit-
15% Cash Credit- 25% Extent and Operation of the charge 1st
Pari passu charge on all the current assets, including stocks and debts, of
the Company for securing working capital facilities consist of Letter of
Credit - Rs.410.000 Millions and Cash Credit - Rs.50.000 Millions (Sub-limit
of Letter of Credit). Others |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
1st Pari passu charge on all the current assets, including stocks and debts, of the Company. |
FIXED ASSETS:
·
Land and Building
·
Plant and Machinery
·
MS Roll
·
EOT Crane
·
Electric Trolley
·
DG Set
·
Electrical Installation
·
Pollution Control
Equipments
·
Welding Machine
·
Weigh Bridge
·
Air Conditioner
·
Office Equipments
·
Fire Fighting Equipments
·
Lab Equipments
·
Computer
·
Furniture and Fixtures
·
Tools and Tackles
·
Hand Cart
·
Cycle
·
Motor Cars
·
Vehicles
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.54.05 |
|
|
1 |
Rs.83.46 |
|
Euro |
1 |
Rs.72.54 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
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.