MIRA
INFORM REPORT
|
Report Date : |
05.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
G.
R. ENGINEERING PRIVATE LIMITED [w.e.f.
05.05.2008] |
|
|
|
|
Formerly Known As : |
HARIANI HOLDINGS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Poonam Chambers, A Wing, 2nd Floor, Dr. |
|
|
|
|
Country : |
|
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|
|
|
Financials (as on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation : |
17.10.1990 |
|
|
|
|
Com. Reg. No.: |
11-058602 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U65990MH1990PTC058602 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMG13231B |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACH8828G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer and Importer of Process Equipment – Coded Vessels,
Reactors, Columns, Pressure Vessels, Shell and Tube Exchangers, Horton Spheres,
Mounded Bullets / Tanks, Piping works. |
|
|
|
|
No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 6900000 |
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|
|
|
Status : |
Good |
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|
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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|
Comments : |
Subject is a well established and reputed company having good track
record. There appears slight dip in the sales and profitability during the
current years. However, general financial position of the company is strong.
Directors are reported to be experience businessman. Performance capacity is
high. Fundamental appears to be healthy. Trade relations are reported to be
fair. Business is active. Payments are reported to be regular and as per
commitments. The company can be considered for normal business dealings 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.
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 |
ICRA |
|
Rating |
A- [Fund Based Cash Credit] |
|
Rating Explanation |
Having adequate degree of safety regarding timely servicing of
financial obligations. It carry low credit risk. |
|
Date |
|
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 : |
Ms. Neha Gupta |
|
Designation : |
Assistant - Chief Finance Officer |
|
Contact No.: |
91-22-24960552/53/54/55 |
|
Date : |
04.01.2013 |
LOCATIONS
|
Registered / Head Office : |
Poonam Chambers, A Wing, 2nd Floor, Dr. |
|
Tel. No.: |
91-22-2496 0551/52/53/54/55 |
|
Fax No.: |
91-22-24964532 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Workshop : |
G-14, MIDC Industrial Area, Tarapur – 401506, |
|
Tel. No.: |
91-2525-272870 / 272970 |
|
Fax No.: |
91-2525-273287 |
|
E-Mail : |
|
|
|
|
|
Shipping Division: |
5A/5B, Sapana Terraces, 1st Floor, Swatantra Path, Vasco-Da-Gama,
Goa – 403802, India |
|
Tel. No.: |
91-834-2512972 / 2512973 |
|
Fax No.: |
91-834-2510415 |
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E-Mail : |
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|
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|
Regional Office : |
529, Som Dut Chambers – II, 9, Bhikaji Cama Place, New Delhi – 110
066, India |
|
Tel. No.: |
91-11-2617 0252 / 2618 6779 |
|
Fax No.: |
91-11-2619 2884 |
|
E-Mail : |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Daulatram Pribhadas Hariani |
|
|
Designation : |
Whole Time Director |
|
|
Address : |
401 Prabhu Kutir, |
|
|
Date of Birth/Age : |
27.10.1926 |
|
|
Date of Appointment : |
17.10.1990 |
|
|
Election Commission Identity Card No. : |
MT / 04 / 024 / 3542566 |
|
|
Din No.: |
00131120 |
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|
|
|
|
|
Name : |
Mr. Ramesh Daulatram Hariani |
|
|
Designation : |
Managing Director |
|
|
Address : |
Row House No. 3, Grand Paradi Apartment, August Kranti Marg, Mumbai –
400 036, |
|
|
Date of Birth/Age : |
11.10.1949 |
|
|
Date of Appointment : |
17.10.1999 |
|
|
Election Commission Identity Card No. : |
MT / 040 / 024 / 009562 |
|
|
Din No.: |
00131240 |
|
|
|
|
|
|
Name : |
Mr. Shankar Shripad Shirolkar |
|
|
Designation : |
Director |
|
|
Address : |
1st Floor, |
|
|
Date of Birth/Age : |
26.12.1938 |
|
|
Date of Appointment : |
08.05.2008 |
|
|
Din No.: |
01891727 |
|
|
|
|
|
|
Name : |
Mrs. Parmeshwari Daulatram Hariani |
|
|
Designation : |
Whole time Director |
|
|
Address : |
401, Pabhu Kutir, |
|
|
Date of Birth/Age : |
21.08.1929 |
|
|
Date of Appointment : |
08.05.2008 |
|
|
Election Commission Identity Card No. : |
MT / 04 / 024 / 354255 |
|
|
Din No.: |
00131387 |
|
|
|
|
|
|
Name : |
Mrs. Chilamilika Lalini Hariani |
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|
Designation : |
Whole Time Director |
|
|
Address : |
Bunglow No. 3, Grand Paradi Apartment, |
|
|
Date of Birth/Age : |
06.08.1948 |
|
|
Date of Appointment : |
08.05.2008 |
|
|
Din No.: |
01844372 |
|
KEY EXECUTIVES
|
Name : |
Ms. Neha Gupta |
|
Designation : |
Assistant - Chief Finance Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Daulatram Pribhdas Hariani |
|
358900 |
|
Parmeshari Daulatram Hariani |
|
446940 |
|
Daulatram P Hariani-HUF |
|
96000 |
|
Ramesh Daulatram Hariani |
|
2894840 |
|
Chilamilika Lalni Hariani |
|
72000 |
|
Gope Daulatram Hariani-NRE |
|
30720 |
|
Gope Daulatram Hariani-NRO |
|
136800 |
|
Jay Gope Hariani-NRE |
|
221440 |
|
Jay Gope Hariani-NRO |
|
44544 |
|
Neil F Hariani-NRE |
|
221440 |
|
Neil F Hariani-NRO |
|
24000 |
|
Gita H Zeigelbaur-NRE |
|
413856 |
|
Gita H Zeigelbaur-NRO |
|
153320 |
|
Shaun Paul Zeigelbaur-NRE |
|
160000 |
|
Gita H Zeigelbaur-NRE |
|
160000 |
|
Chander Pribhdas Hariani |
|
4800 |
|
|
|
|
|
TOTAL
|
|
5439600 |
AS ON 29.09.2012
|
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] |
|
28.79 |
|
Directors
or relatives of directors |
|
71.21 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Importer of Process Equipment – Coded Vessels, Reactors,
Columns, Pressure Vessels, Shell and Tube Exchangers, Horton Spheres, Mounded
Bullets / Tanks, Piping works. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management. |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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|
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|
Auditors : |
|
|
Name : |
Jitendra Sanghvi and Company Chartered Accountants |
|
Address : |
405, Churchgate Chambers, 5, New Marine Lines, Mumbai – 400 020, |
|
Tel. No.: |
91-22-22625000 |
|
Fax No.: |
91-22-22625010 |
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E-Mail : |
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|
PAN No: |
AAHFJ1944M |
|
|
|
|
Wholly Owned Subsidiaries : |
GREW Limited, Dubai UAE |
|
|
|
|
Associates / Subsidiaries : |
·
G. R. Infrastructure Private Limited
[U45200MH2005PTC152633] ·
Grew Industries Private Limited
[U28920MH1966PTC013582] ·
Grew Limited LLC |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5439600 |
Equity Shares |
Rs.10/- each
|
Rs.54.396
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 |
54.396 |
54.396 |
54.396 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1671.260 |
1496.780 |
1109.264 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1725.656 |
1551.176 |
1163.660 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
808.004 |
352.801 |
202.449 |
|
|
2] Unsecured Loans |
176.756 |
120.993 |
670.493 |
|
|
TOTAL BORROWING |
984.760 |
473.794 |
872.942 |
|
|
DEFERRED TAX LIABILITIES |
30.625 |
35.920 |
12.166 |
|
|
DEFERRED PAYMENT CREDITS |
0.000 |
0.000 |
18.721 |
|
|
|
|
|
|
|
|
TOTAL |
2741.041 |
2060.890 |
2067.489 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
660.313 |
587.628 |
493.566 |
|
|
Capital work-in-progress |
156.326 |
47.017 |
13.833 |
|
|
|
|
|
|
|
|
INVESTMENT |
467.187 |
437.943 |
341.581 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
621.223
|
365.931 |
491.089
|
|
|
Sundry Debtors |
905.805
|
898.461 |
531.239
|
|
|
Cash & Bank Balances |
3.471
|
6.535 |
165.558
|
|
|
Other Current Assets |
820.131
|
47.653 |
0.000
|
|
|
Loans & Advances |
861.668
|
864.232 |
779.429
|
|
Total
Current Assets |
3212.298
|
2182.812 |
1967.315 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
373.514
|
238.897 |
505.293
|
|
|
Other Current Liabilities |
948.673
|
480.513 |
0.000
|
|
|
Provisions |
432.896
|
475.100 |
243.995
|
|
Total
Current Liabilities |
1755.083
|
1194.510 |
749.288
|
|
|
Net Current Assets |
1457.215
|
988.302 |
1218.027
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.482 |
|
|
|
|
|
|
|
|
TOTAL |
2741.041 |
2060.890 |
2067.489 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2427.030 |
3424.176 |
3040.107 |
|
|
|
Other Income |
65.986 |
66.353 |
51.287 |
|
|
|
TOTAL (A) |
2493.016 |
3490.529 |
3091.394 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
2668.311 |
2663.789 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
2009.887 |
2668.311 |
2663.789 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
483.129 |
822.218 |
427.605 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
98.194 |
41.025 |
24.718 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
384.935 |
781.193 |
402.887 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
100.383 |
79.332 |
62.272 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
284.552 |
701.861 |
340.615 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
78.462 |
235.319 |
115.570 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
206.090 |
466.542 |
225.045 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
529.154 |
191.638 |
55.024 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
21.000 |
50.000 |
25.000 |
|
|
|
Proposed Dividend |
27.198 |
67.995 |
54.396 |
|
|
|
Tax on Dividend |
4.412 |
11.030 |
9.035 |
|
|
BALANCE CARRIED
TO THE B/S |
682.634 |
529.155 |
191.638 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
NA |
0.315 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
NA |
82.392 |
|
|
|
Trading (Capital Goods) |
NA |
NA |
66.366 |
|
|
|
Stores and Spares |
NA |
NA |
0.000 |
|
|
|
Capital Goods |
NA |
NA |
1.061 |
|
|
TOTAL IMPORTS |
NA |
NA |
149.819 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
37.89 |
85.77 |
41.37 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
8.27
|
13.37 |
7.28
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
11.72
|
20.50 |
11.20
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.35
|
25.33 |
16.94
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.45 |
0.29
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.59
|
1.08 |
1.39
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.83
|
1.83 |
2.63
|
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2012 (Rs. in millions) |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
|
Sundry Creditors |
373.514
|
238.897 |
505.293
|
|
Sr. No. |
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
Yes |
|
34] |
External Agency Rating, if available |
Yes |
BACKGROUND:
Subject (Previously known as Hariani Holdings
Private Limited) was incorporated on 17/10/1990 to carry on business of
Investments. Pursuant to the Scheme of Arrangement, the engineering undertaking
of GREW Industries Private Limited (Previously known as G.R. Engineering Works
Limited) was demerged into the Company w.e.f. 01/0512008. Now the Company is
principally engaged in the business of Fabrication of Machineries of
Pharmaceutical, Chemical, Fertilizers, Atomic Power, Refinery and Distillation
Plant Industries, during the current year, the Company has started the business
of windmill power generation.
OPERATIONS:
During the period,
the company has recorded a Sales Turnover of Rs. 2427.030 Millions as compared
to Rs. 3424.176 Millions. EBDITA stood at Rs. 483.129 Millions (previous year
Rs. 822.218 Millions).
Reduction in the
turnover and profits were mainly due to the timing of the new orders received
and long lead execution schedule mostly to reflect completion in the current
financial year.
FUTURE PROSPECTS:
Despite industrial
slowdown, the company hopes to maintain the turnover level in the current
financial year. The recent change in Government policies is expected to give
momentum to the industrial growth in general and infrastructure in particular.
EXPANSION AND DIVERSIFICATION:
The Company had
acquired land in Dahej in Gujarat to set up offshore manufacturing facilities
to facilitate transportation of off size and over dimensional products to
various MEGA projects in and outside the country. The Company could not however
make any headway due to the non-receipt of Government clearance. The Company
has taken possession of the plot admeasuring 12.80 acres at Dahej. The
preliminary work relating to development of the project has been initiated. The
Company would consider implementing offshore workshop facilities of a moderate
size after clarity on the market outlook. At Velgaon a few kms from our main
workshop at Boisar, Company is developing a 2 acre plot for construction of a
shed to carry out preparatory steps to feed and supplement main workshop,
presently facing space constraints.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U65990MH1990PTC058602 |
|
Name of the
company |
G. R. ENGINEERING
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Poonam Chambers, A Wing, 2nd Floor, Dr. |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book debts Movable property
(not being pledge) Others |
|
Particular of
charge holder |
The Hongkong And Shanghai
Banking Corporation Limited, 52/60 Mahatma Gandhi Road, Fort, Mumbai-400001,
Maharashtra, India |
|
Nature of
instrument creating charge |
Deed of
hypothecation for stocks and receivables and plant and machinery dated
22.09.2011 |
|
Date of instrument
Creating the charge |
22.09.2011 |
|
Amount secured by
the charge |
Rs. 330.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest 'Interest shall be
payable by the Company on the banking facilities as per Bank's tariff,
subject however that the Bank shall have right to change the rate of interest
after giving notice to the Company Terms of repayment In consideration
of Banking facilities sanctioned/to be sanctioned by the Bank to the Company,
the Company has hypothecated and charged to the Bank by way of second charge
over current assets and moveable fixed assets as a continuing security, the
assets mentioned in the Deed of Hypothecation to secure the repayments of the
advances together with interest cost and all other charges' Margin As Per the
facility agreement executed between the company and HSBC, as amended from
time to time. Extent and operation of the charge In case the
Company fails to fulfill its obligations under the Agreement, the Bank shall
be entitled to take possession of the hypothecated properties and sell them
by public auction or private contract and utilize the proceeds in full or
part settlement of its claims. |
|
Short particulars
of the property charged (Including location of the property) |
Second Charge On
Fixed Assets (Moveable) Located At G-14 Midc Industrial Area, Tarapur, Dist.
Thane And Second Charge Over Stock And Receivables, All Present And Future. |
FIXED ASSETS:
·
Land (Free Hold / Lease
Hold)
·
Buildings (On Free Hold /
Lease Hold land)
·
Furniture and Fixtures
·
Barges and Vessels
·
Plant and Machinery
·
Office Equipment
·
Vehicles
·
Computer
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.54.85 |
|
|
1 |
Rs.88.16 |
|
Euro |
1 |
Rs.71.54 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
52 |
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.