MIRA
INFORM REPORT
|
Report Date : |
02.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
ENERCON ( |
|
|
|
|
Formerly Known As : |
WIND WORLD POWER LIMITED |
|
|
|
|
Registered Office : |
Plot No. 33, |
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Country : |
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|
Financials (as on) : |
31.03.2007 (Unaudited) |
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|
|
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Date of Incorporation : |
10.05.1993 |
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|
|
|
Com. Reg. No.: |
56-003236 (New) 071899 (Old) |
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|
|
Capital Investment / Paid-up Capital : |
Rs. 72.000 millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U31200DD2003PLC003236 / U74999MH1993PTC071899 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
BLRE00726F/SRTE00116E |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability
Company |
|
|
|
|
Line of Business : |
Manufacturer of
Wind Mills. |
|
|
|
|
No. of Employees : |
5348 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 18360000 |
|
|
|
|
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
management has not filed its financials after the year 2007. Also, the management
remains non co-operative denied to part any information about the company.
However, business is active. Payments are unknown. The company can be considered for business dealings with some caution. Note: The company has been defaulted in payment of custom/excise
duties in the year 2009. |
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 |
BBB (Long term) |
|
Rating Explanation |
Moderate degree of safety. It carry moderate
credit risk |
|
Date |
March, 2012 |
|
Rating Agency Name |
CARE |
|
Rating |
A3+ (Short term) |
|
Rating Explanation |
Moderate degree of safety. It carry higher
credit risk |
|
Date |
March, 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
Management Non Co-operative (Date: 31.12.2012)
[Tel No.: 91-22-66924848]
LOCATIONS
|
Registered Office / Factory 1 : |
Plot No. 33, Daman Patalia Road, Bhimpore, Daman – 396 210, Daman and
Diu, India |
|
Tel. No.: |
91-260-2220624 /
2221219 / 2221220 / 2220321 / 2220628 |
|
Fax No.: |
91-260-2221508 |
|
E-Mail : |
admin@mumbai.enercon-india.com vijay.poddar@enercon.net |
|
Website: |
www.enerconindia.net |
|
Location
: |
Leased |
|
|
|
|
Corporate Office : |
Tower Plot No. A - 9, CTS No. 700, Veera Industrial Estate, Veera
Desai Road |
|
Tel No.: |
91-22-66924848 |
|
Fax No.: |
91-22-66990940 |
|
Email : |
|
|
|
|
|
Factory 2 : |
Concrete Tower
Factory : Plot No 610 / 611, Village Sadodar, Taluka : Jamjodapur, Dist Jamnagar,
Gujarat – 360520, India |
|
Tel. No.: |
91-2898-262372 /
262545 / 262547 |
|
Fax No.: |
91-2898-262374 |
|
|
|
|
Branches/Marketing Office: |
Located At: ·
Pune ·
Chennai ·
Bangalore ·
Hyderabad ·
Coimbatore ·
Ahmedabad ·
Jaipur ·
New Delhi ·
Vadodara |
DIRECTORS
As on 30.09.2007
|
Name : |
Mr. Aloys Wobben |
|
Designation : |
Chairman |
|
Address: |
Dreekamp-5,
26605, Indian Address |
|
Date of
Birth/Age : |
22.01.1952 |
|
Date of
Appointment: |
24.02.1944 |
|
|
|
|
Name : |
Mr. Yogesh
Jogindernath Mehra |
|
Designation : |
Managing Director |
|
Address: |
201, Hare Krishna, Presidency Society, |
|
Date of
Birth/Age : |
01.12.1959 |
|
Qualification |
B.Com |
|
Date of
Appointment: |
10.05.1993 |
|
|
|
|
Name : |
Mr. Ajay Jogindernath
Mehra |
|
Designation : |
Whole Time Director |
|
Address: |
301, Hare Krishna, Presidency Society, |
|
Date of
Birth/Age : |
06.12.1955 |
|
Date of
Appointment: |
10.05.1993 |
|
|
|
|
Name : |
Mr. Kettwing Hans
Dieter |
|
Designation : |
Director |
|
Address: |
Dreekamp-5,
26605, Indian Address |
|
Date of
Birth/Age : |
23.11.1957 |
|
Date of
Appointment: |
11.03.2002 |
KEY EXECUTIVES
|
Name |
Mr. Manoranjan
Karmakar |
|
Designation |
Company Secretary |
|
Address: |
Flat No.1404, Raj
Manor, B Wing, |
|
Date of Birth |
29.04.1956 |
|
Date of
Appointment: |
12.09.1995 |
|
|
|
|
Name |
Mr. Kedar Kulkarni |
|
Designation |
Office Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2007
|
Names of Shareholders |
No. of Shares |
|
Equity Shares |
|
|
Enercon |
4032000 |
|
Mehra J Sudarshan |
896000 |
|
Mehra J Ajay |
680000 |
|
Mehra Ajay Meenakshi |
432000 |
|
Mehra J Yogesh |
832000 |
|
Mehra Yogesh Radhika |
304000 |
|
Mehra Ajay Sitakshi |
16000 |
|
Mehra Ajay Siddharth |
8000 |
|
Total |
7200000 |
As on 30.09.2007
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
56.00 |
|
Directors
or relatives of directors |
|
44.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of
Wind Mills. |
|
|
|
|
Products : |
·
Wind
Mills Accessories and Parts ·
Rotor
Blade |
GENERAL INFORMATION
|
No. of Employees : |
5348 (Approximately) |
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|
Bankers : |
·
Oman
International Bank Sago; Raheja Centre, 2nd Floor, Fress Press; Nariman Point,
Mumbai – 400 021, ·
Axis
Bank Limited Trishul 3rd Floor, ·
Co-Operative Centrale Raiffelaen Boerenleen
Bank BA, ·
ICICI
Bank Limited Landmark ·
Yes
Bank Limited 9th Floor, Nehru Centre, Discovery of India, Dr. Annie
Besant Road, Worli, Mumbai-400018, Maharashtra, India ·
The Royal Bank of Scotland N.V. Hansalaya Building, 15, Barakhamba Road,
New Delhi - 110001, India ·
Corporation
Bank, Mumbai, ·
Bank
of ·
State
Bank of ·
Centurion
Bank, Mumbai, ·
Axis
Bank, Mumbai, ·
Credit
·
The
Vysya Bank Limited, Mumbai, ·
Union
Bank of ·
ABN
Amro Bank, Mumbai, ·
Canara
bank, Mumbai, |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Facilities : |
Note 1. Secured Loans from banks and financial
institutions are secured against hypothecation of current assets, equitable
mortgage of land and building at Daman, hypothecation of Movable Fixed Assets
of Unit I, Unit II, Concrete Tower Facility, Pledged of Investments in
Enercon Wind Farms (India) Limited and personal guarantee form the Indian
Directors. 2. Loan from Infrastructure Development
Finance Company Limited is secured by: ·
A
First charge by way of hypothecation/ mortgage over all the moveable and
immovable assets (including tangible and intangible present and future) of
the erstwhile GIWFL (Amalgamated company), pertaining to Wind Farms. ·
A
First Chare by way of assignment of the right and interest of the erstwhile
GIWFL (Amalgamated Company), as the case may be, to and under all project
documents. ·
A
First charge by way of assignment of the right, title and interest of the
erstwhile GIWFL (Amalgamated Company) to and under all the government permits,
licenses, authorization, insurance contracts relating to project assets. ·
An
Exclusive chare on all the receivables of the erstwhile GIWFL (Amalgamated
Company). 3. The vehicle loans, Plant and Machinery
Loans and Office Equipments Loans under lease obligations are secured against
hypothecation of the respective assets.
Note ·
Unsecured
Loans from Foreign Financial Institutions are guaranteed by corporate
guarantee of Holding Company and the personal guarantee form the Indian Directors.
Unsecured Loans from Local Banks are guaranteed by the personal guarantee
from the Indian directors. ·
Long
Term Loan From State Bank of |
|
Banking
Relations : |
-- |
|
|
|
|
Financial
Institutions : |
· Infrastructure Development Finance Company Limited ITC Centre, 3rd
Floor, 760, Anna Salai, Chennai-600002, ·
SREI Equipment Finance Private Limited 'Vishwakarma', 86C, |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins
and Sells Chartered
Accountants |
|
Address : |
12, Dr. Annie
Besant Road, Opposite Shivsagar Estate, Worli, Mumbai – 400 018, Maharashtra,
India |
|
PAN No.: |
AACFD4815A |
|
|
|
|
Holding Company : |
Enercon |
CAPITAL STRUCTURE
As on 31.03.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
9000000 |
Equity shares |
Rs.10/- each |
Rs.90.000 Millions |
|
1500000 |
9% Non Convertible Cumulative Redeemable Preference Shares |
Rs.100/- each |
Rs.150.000 Millions |
|
|
Total |
|
Rs.240.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7200000 |
Equity shares (Out of the above, 4.032 millions, Equity
Shares of Rs.10/- each full paid up are held by Enercon GmbH – Holding Company) |
Rs.10/- each |
Rs.72.000
Millions |
|
|
Total |
|
Rs.72.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 (Unaudited) |
31.03.2006 (Unaudited) |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
72.000 |
117.000 |
162.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
4519.135 |
3750.109 |
2586.611 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
4591.135 |
3867.109 |
2748.611 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
5453.288 |
3283.564 |
2015.284 |
|
|
2] Unsecured Loans |
2851.413 |
569.024 |
1315.492 |
|
|
TOTAL BORROWING |
8304.701 |
3852.588 |
3330.776 |
|
|
DEFERRED TAX LIABILITIES |
500.014 |
385.014 |
208.280 |
|
|
|
|
|
|
|
|
TOTAL |
13395.850 |
8104.711 |
6287.667 |
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
5105.044 |
2887.111 |
1200.538 |
|
|
Capital work-in-progress |
845.537 |
698.843 |
89.163 |
|
|
|
|
|
|
|
|
Pending Allocation |
0.000 |
0.000 |
1.105 |
|
|
|
|
|
|
|
|
INVESTMENT |
2340.748 |
1178.294 |
1071.608 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
5469.493
|
3438.058
|
3951.785 |
|
|
Sundry Debtors |
4116.311
|
3967.497
|
4085.839 |
|
|
Cash & Bank Balances |
2391.528
|
2097.460
|
261.249 |
|
|
Other Current Assets |
42.362
|
26.835
|
7.301 |
|
|
Loans & Advances |
4007.577
|
2183.166
|
1350.682 |
|
Total
Current Assets |
16027.271
|
11713.016
|
9656.856 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
2414.126 |
1300.108 |
5373.948 |
|
|
Other Current Liabilities |
7897.847
|
6911.184
|
|
|
|
Provisions |
610.777
|
161.261
|
357.655 |
|
Total
Current Liabilities |
10922.750
|
8372.553
|
5731.603 |
|
|
Net Current Assets |
5104.521
|
3340.463
|
3925.253 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
13395.850 |
8104.711 |
6287.667 |
|
%20LIMITED%20-%20205106%2002-Jan-2013_files/image001.gif){kind=small}
PROFIT &
LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2007 (Unaudited) |
31.03.2006 (Unaudited) |
31.03.2005 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales and Services |
21457.490 |
16726.763 |
8831.890 |
|
|
|
Other Income |
1084.541 |
150.946 |
72.098 |
|
|
|
TOTAL (A) |
22542.031 |
16877.709 |
8903.988 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
16834.365 |
12801.055 |
0.000 |
|
|
|
Manufacturing and Other Expenses |
3611.004 |
2067.835 |
1461.222 |
|
|
|
Consumption of Raw material and Bought out components |
0.000 |
0.000 |
7933.113 |
|
|
|
Increase / Decrease in Finished Goods |
0.000 |
0.000 |
(1590.162) |
|
|
|
TOTAL (B) |
20445.369 |
14868.89 |
7804.173 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2096.662 |
2008.819 |
1099.815 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST (D) |
801.827 |
439.600 |
269.860 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1294.835 |
1569.219 |
829.955 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
333.013 |
150.891 |
80.731 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
961.822 |
1418.328 |
749.224 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
189.239 |
233.739 |
174.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
772.583 |
1184.589 |
575.024 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2353.147 |
1149.524 |
587.397 |
|
|
|
|
|
|
|
|
|
Add |
ADJUSTMENT OF
PROFIT/LOSS OF AMALGAMATING COMPANIES (NET) |
0.000 |
27.116 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Preference Dividend |
3.040 |
7.088 |
11.138 |
|
|
|
Corporate Dividend Tax on Proposed
Preference Dividend |
0.517 |
0.994 |
1.759 |
|
|
BALANCE CARRIED
TO THE B/S |
3122.173 |
2353.147 |
1149.524 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
63.50 |
163.40 |
78.07 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 (Unaudited) |
31.03.2006 (Unaudited) |
31.03.2005 |
|
PAT / Total Income |
(%) |
3.43
|
7.02 |
6.46 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.48
|
8.48 |
8.48 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.55
|
9.71 |
6.90 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21
|
0.37 |
0.27 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.19
|
3.16 |
3.30 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.47
|
1.40 |
1.68 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
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 |
change of address:
The address of the Registered Office of company has been shifted from Kolsite House, Plot No. 31, Shah Industrial
Estate, Veera Desai Road, Andheri (West), Mumbai - 400 053, Maharashtra, India to the Present
address w.e.f. 22.05.2003
Note
As confirmed Mr. Yogesh Mehra is one of the directors for Vish Wind and
has membership with Indian Wind Turbine Association.
But he is in no way connected to the following companies:-
- Trinity Electro
Mechanicals Private Limited
- Wind
Polyplast Private Limited
- Wind River
Farms Private Limited
- Wind Turbine
Systems Private Limited
- Wind Farm
Hire Purchase and Leasing Private Limited
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U31200DD2003PLC003236 |
|
Name of the company |
ENERCON (INDIA) LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
Plot No. 33, Daman Patalia Road, Bhimpore, Daman – 396 210, Daman and
Diu, India |
|
This form is for |
Creation of charge |
|
Type of charge |
·
Movable property (not being pledge) ·
Floating charge |
|
Particular of charge holder |
The Royal Bank of Scotland N.V. Hansalaya Building, 15, Barakhamba Road,New Delhi - 110001, India |
|
Nature of instrument creating charge |
Deed of Hypothecation dated 23rd July 2012 |
|
Date of instrument Creating the charge |
23.07.2012 |
|
Amount secured by the charge |
Rs. 160.000 millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest As per the loan documents executed
between the company and the bank Terms of Repayment As per the loan documents executed
between the company and the bank Margin As per the loan documents executed
between the company and the bank Extent and Operation of the charge The charge operates as a Third charge by way of the Deed of
Hypothecation executed on 23rd July 2012 in favour of the Bank , on the
entire Movable fixed assets, both present and future, of the Company more
specifically described in the Schedule I of the enclosed DOH, as security
interalia for the due repayment by the Company to RBS for the Term loan of
Rs.160.000 millions together with all secured obligations and other moneys
payable by the Company to RBS Others |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
Third Charge on the Entire movable assets of the Company, both Present
and Future as per the Schedule I of the enclosed Deed of hypothecation dated
23.07.2012 |
Fixed Assets
Owned Assets
·
Free
·
Building
·
Plant and Machinery
·
Wind Energy Converter
·
Sub Station
·
Furniture, Fixture and Office Equipments
·
Vehicles
Leased Assets
·
Plant and Machinery
·
Vehicles
·
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 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.54.83 |
|
|
1 |
Rs.89.23 |
|
Euro |
1 |
Rs.72.48 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
33 |
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.