1. Summary Information
|
|
|
Country |
India |
|
Company Name |
Space Wood
Furnishers Private Limited |
Principal Name 1 |
Mr. Vivek Moreshwar Deshpande |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Kirit Sharad Joshi |
|
|
|
Registration # |
11-100296 |
|
Street Address |
T-48, M.I.D.C., Hingna, Nagpur – 440016, Maharashtra, India |
||
|
Established Date |
18.06.1996 |
SIC Code |
-- |
|
Telephone# |
91-7104-324780/
324781 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-7104-232139 |
Business Style 2 |
-- |
|
Homepage |
http://www.spacewood.in |
Product Name 1 |
Wood Furniture Components |
|
# of employees |
600
(Approximately) |
Product Name 2 |
-- |
|
Paid up capital |
Rs.33,064,500/- |
Product Name 3 |
-- |
|
Shareholders |
Directors or
relatives of Directors- 100% |
Banking |
Union Bank of India |
|
Public Limited Corp. |
No |
Business Period |
17 years |
|
IPO |
No |
International Ins. |
-- |
|
Public |
No |
Rating |
Ba (43) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Associates
|
-- |
Platinum Business India Private Limited |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
541,208,000 |
Current Liabilities |
263,419,000 |
|
Inventories |
205,015,000 |
Long-term Liabilities |
575,246,000 |
|
Fixed Assets |
197,132,000 |
Other Liabilities |
37,448,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
876,113,000 |
|
Invest& other Assets |
110,516,000 |
Retained Earnings |
144,693,000 |
|
|
|
Net Worth |
177,758,000 |
|
Total Assets |
1,053,871,000 |
Total Liab. & Equity |
1,053,871,000 |
|
Total Assets (Previous Year) |
897,465,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales (Including Other Income) |
1,366,048,000 |
Net Profit |
23,251,000 |
|
Sales(Previous yr) (Including Other Income) |
1,185,790,000 |
Net Profit(Prev.yr) |
17,612,000 |
MIRA
INFORM REPORT
|
Report Date : |
27.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
SPACE WOOD FURNISHERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
T-48, M.I.D.C., Hingna, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
18.06.1996 |
|
|
|
|
Com. Reg. No.: |
11-100296 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.33.065 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36100MH1996PTC100296 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NGPS01638A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCS4955R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Wood Furniture Components. |
|
|
|
|
No. of Employees
: |
600 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 710000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record.
The latest financials are not made available with the government department. As per previous year’s, the financial position of the company seems to
be good. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitments. The company can be considered for normal business dealing at usual
trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
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 DECLINED BY
|
Name : |
Mr. Makrand |
|
Designation : |
Vice President Commercial |
|
Contact No.: |
91-8007772459 |
|
Date : |
25.02.2013 |
|
Email : |
LOCATIONS
|
Registered/ Head
Office/ Factory: |
T-48, M.I.D.C., Hingna, |
|
Tel. No.: |
91-7104-324780/
324781/ 234852/ 234858/ 234857/ 235968/ 236148 |
|
Mobile No.: |
91-8007772459 (Mr. Makrand) |
|
Fax No.: |
91-7104-232139 |
|
E-Mail : |
|
|
Website : |
http://www.spacewood.in
|
|
Area : |
15000 acres |
|
Location : |
Leased |
|
|
|
|
Branch Office : |
Located At · Chennai · Pune · New Delhi · Mumbai · Kolkata · Bangalore |
|
|
|
|
Showroom : |
Located at: · Nagpur · Hyderabad · New Delhi · Gurgaon · Chennai · Kolkata |
DIRECTORS
(AS ON 29.09.2012)
|
Name : |
Mr. Vivek Moreshwar Deshpande |
|
Designation : |
Director |
|
Address : |
“Madhav”, 67 A, Shivaji Nagar, Nagpur – 440010, Maharashtra,
India |
|
Date of Birth/Age : |
14.11.1970 |
|
Qualification : |
BE (Mech.) |
|
Date of Appointment : |
18.06.1996 |
|
DIN No.: |
00023147 |
|
Voter ID No. : |
UOA1372242 |
|
|
|
|
Name : |
Mr. Kirit Sharad Joshi |
|
Designation : |
Director |
|
Address : |
23, Trayambakeshwar, Near Dr. Choudhary’s House, New Verma Layout,
Nagpur – 440 033, Maharashtra, India |
|
Date of Birth/Age : |
20.10.1970 |
|
Qualification : |
BE (Mech.) |
|
Date of Appointment : |
09.07.1996 |
|
DIN No.: |
00204902 |
|
Voter ID No. : |
MT/23/137/0381102 |
|
|
|
|
Name : |
Mr. Nitin Sharadchandra Sudame |
|
Designation : |
Whole-time director |
|
Address : |
Prasad, 105, Swawalambi Nagar, |
|
Date of Birth/Age : |
23.05.1965 |
|
Date of Appointment : |
01.10.2010 |
|
DIN No.: |
03291500 |
|
Voter ID No. : |
YKB0330752 |
KEY EXECUTIVES
|
Name : |
Mr. Makrand |
|
Designation : |
Vice President Commercial |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 29.09.2012)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Vivek M. Deshpande |
|
1389938 |
|
Kirit S. Joshi |
|
1298138 |
|
Sharad T. Joshi |
|
196350 |
|
Vidya S. Joshi |
|
119532 |
|
Usha M. Deshpande |
|
27412 |
|
Ratna K. Joshi |
|
39205 |
|
Varsha V. Deshpande |
|
235875 |
|
|
|
|
|
Total |
|
3306450 |
(AS ON 29.09.2012)
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
|
|
|
Directors or relatives of Directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Wood Furniture Components. |
||||
|
|
|
||||
|
Products : |
· Kitchen Carcass from China · High Gloss Laquer doors for Kitchen Cabinets · Bedroom and Living Room Furniture · Office Furniture |
GENERAL INFORMATION
|
No. of Employees : |
600 (Approximately) |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
· Union Bank of India Shriman Commercial Complex, Dhantoli, Nagpur – 440012, Maharashtra, India · State Bank of India · Kotak Mahindra Bank ·
Corporation Bank 44 S.V.P Marg Kingsway,
Nagpur – 440001, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
C N Patel and Company Chartered Accountants |
|
Address : |
Gani Sons Charitable |
|
Tel. No.: |
91-712-2584800/2584082 |
|
E-Mail : |
cnpca@rediffmail.com |
|
PAN.: |
AGWPP7500Q |
|
|
|
|
Associates : |
· Platinum Business India Private Limited (Earlier Spacewood Exports Private Limited) CIN No.: U51393MH2007PTC172507 |
|
|
|
|
Subsidiaries : |
·
Spacewood Office Solutions Private Limited ·
Spacewood Hong Kong Limited ·
Dolphin Hume Pipe Industries Private Limited CIN No.: U26956MH1983PTC030168 |
CAPITAL STRUCTURE
(AS ON 29.09.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3306450 |
Equity Shares |
Rs.10/- each |
Rs.33.065
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 |
33.065 |
22.043 |
19.601 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
144.693 |
136.319 |
121.285 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
177.758 |
158.362 |
140.886 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
500.390 |
429.575 |
333.308 |
|
|
2] Unsecured Loans |
74.856 |
70.182 |
70.182 |
|
|
TOTAL BORROWING |
575.246 |
499.757 |
403.490 |
|
|
DEFERRED TAX LIABILITIES |
14.033 |
7.174 |
8.137 |
|
|
|
|
|
|
|
|
TOTAL |
767.037 |
665.293 |
552.513 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
197.132 |
156.021 |
167.905 |
|
|
Capital work-in-progress |
42.277 |
24.806 |
16.771 |
|
|
|
|
|
|
|
|
INVESTMENT |
68.002 |
2.580 |
1.955 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
205.015 |
216.247 |
182.098 |
|
|
Sundry Debtors |
397.651
|
371.267
|
274.122
|
|
|
Cash & Bank Balances |
45.816
|
29.904
|
19.801
|
|
|
Other Current Assets |
2.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
95.741
|
96.640
|
68.539
|
|
Total
Current Assets |
746.223
|
714.058
|
544.560
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
202.934
|
197.785
|
160.544
|
|
|
Other Current Liabilities |
60.485
|
0.000
|
0.000
|
|
|
Provisions |
23.415
|
34.387
|
18.134
|
|
Total
Current Liabilities |
286.834
|
232.172
|
178.678
|
|
|
Net Current Assets |
459.389
|
481.886
|
365.882
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.237
|
0.000
|
0.000
|
|
|
|
|
|
|
|
|
TOTAL |
767.037 |
665.293 |
552.513 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
1366.048 |
|
1146.901 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
1366.048 |
1185.790 |
1146.901 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
1244.576 |
1076.055 |
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
1244.576 |
1076.055 |
1114.845 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
121.472 |
109.735 |
(Including
Financial and Depreciation Expenses) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
56.928 |
58.983 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
64.544 |
49.752 |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
25.242 |
22.311 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
39.302 |
27.441 |
32.056 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
16.051 |
9.829 |
9.317 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H)
(I) |
23.251 |
17.612 |
22.739 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
96.738 |
80.421 |
68.761 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
2.000 |
2.000 |
2.000 |
|
|
|
Transfer to Foreign Currency Transaction Reserve |
(0.926) |
(3.282) |
6.785 |
|
|
|
Proposed Dividend |
3.306 |
2.204 |
1.960 |
|
|
|
Tax on Dividend |
0.549 |
0.374 |
0.333 |
|
|
BALANCE CARRIED
TO THE B/S |
115.060 |
96.738 |
80.421 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
27.571 |
35.410 |
21.659 |
|
|
TOTAL EARNINGS |
27.571 |
35.410 |
21.659 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
36.433 |
1.225 |
22.547 |
|
|
|
Raw Materials |
415.355 |
400.677 |
420.487 |
|
|
TOTAL IMPORTS |
451.788 |
401.902 |
443.034 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.31 |
10.55 |
11.60 |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
1500.000 |
Expected Sales (2012-13): Rs.2000.000 Millions
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.70
|
1.49
|
1.98
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.17
|
3.15
|
4.50
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22
|
0.17
|
0.23
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
3.24
|
3.16
|
2.86
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.60
|
3.08
|
3.05
|
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 |
Yes |
|
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 |
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 |
Yes |
|
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 |
Yes |
|
34] |
External Agency Rating, if available |
No |
UNSECURED LOAN
|
Particulars |
31.03.2011 (Rs. In Millions) |
|
|
|
|
Loans directors |
46.850 |
|
Deferred sales tax loans |
28.006 |
|
|
|
|
Total |
74.856 |
|
Particulars |
31.03.2010 (Rs. In Millions) |
|
|
|
|
From Directors |
|
|
Kirit Joshi |
20.925 |
|
Vivek Deshpande |
20.925 |
|
From others |
|
|
Sales Tax Deferral (1999-2009) |
11.656 |
|
Sales Tax Deferral (2003-2013) |
16.676 |
|
|
|
|
Total |
70.182 |
NOTE:
The Registered office of the company has been shifted from N-6, MIDC, Hingna,
Nagpur – 440016, Maharashtra, India to the present address
w.e.f.19.11.2009.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U36100MH1996PTC100296 |
|
Name of the
company |
SPACE WOOD
FURNISHERS PRIVATE LIMITED. |
|
Address of the
registered office or of the principal place of business in |
T-48, M.I.D.C.,
Hingna, Email: info@spacewood.in |
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
10123805 |
|
Type of charge |
·
Immovable
Property |
|
Particular of
charge holder |
Union Bank of
India Shriman Commercial
Complex, Dhantoli, Nagpur – 440012, Maharashtra, India |
|
Nature of
instrument creating charge |
Mortgage Deed |
|
Date of
instrument Creating the charge |
21.07.2012 |
|
Amount secured by
the charge |
Rs.450.000
Millions |
|
Brief of the
principal terms and conditions and extent and operation of the charge |
Rate of Interest:
As per old
agreement Terms of
Repayment: As per old
agreement Margin: As per old
agreement Extent and
Operation of the charge: Pari-passu charge
is created with Corporation Bank on all the piece and parcel of land known as
Plot No. T-48 admeasuring 24,103.75 sq. Mtrs together with factory shed and
building in Nagpur Industrial Area within the local village limit of Nildoh
Hingana and outside the limit of Nagpur Muncipal Corporation and registration
sub-district Nagpur to secure the repayment of the principal, interest and other outstanding. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
All the piece and
parcel of land known as Plot no. T- 48 admeasuring 24,103.75 sq. mtrs
together with factory shed and building in Nagpur Industrial area within the
local village limit of Nildoh Hingana and outside the limit of Nagpur
Muncipal Corporation and registration sub-district Nagpur |
|
Particulars of the present modification |
One time Bank
Guarantee amounting to Rs 20.000 Millions has been given by the Bank to the
Company and revised facilities are as under:-
C.C.
Hypothecation limit 250.000 Millions Term Loan (O/s)
25.000 Millions Non-fund based
(LC and BG) 155.000 Millions One time Bank
Guarantee 20.000 Millions and The
Securities provided earlier in pari-passu basis with Corporation Bank for
older limit shall cover new limit also. |
Fixed Assets
· Land
·
· Plant and Machinery
· Tools and Equipments
· Office Equipments
·
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 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.54.06 |
|
|
1 |
Rs.82.15 |
|
Euro |
1 |
Rs.70.61 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
43 |
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.