1. Summary Information
|
|
|
Country |
India |
|
Company Name |
SARA SUOLE PRIVATE LIMITED |
Principal Name 1 |
Mr. Kayum Razak Dhanani |
|
Status |
Moderate |
Principal Name 2 |
Ms. Bipasha Pal |
|
|
|
Registration # |
08-028955 |
|
Street Address |
Survey No. 62, Site No.13, 6th Cross N.S. Palya, BTM
Layout, Bangalore-560076, Karnataka |
||
|
Established Date |
26.04.2001 |
SIC Code |
-- |
|
Telephone# |
91-80-49072800 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-80-49072899 |
Business Style 2 |
Exporter |
|
Homepage |
Product Name 1 |
Leather Shoes |
|
|
# of employees |
4500 (Approximately) |
Product Name 2 |
Leather Soles |
|
Paid up capital |
Rs. 47,789,000/- |
Product Name 3 |
-- |
|
Shareholders |
Directors or relatives of Directors -81.50% Foreign holdings-18.50% |
Banking |
State Bank of
Mysore |
|
Public Limited Corp. |
No |
Business Period |
11 Years |
|
IPO |
No |
International Ins. |
- |
|
Public Enterprise |
No |
Rating |
B (29) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Associates
|
India
|
Welterman International Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
322,963,000 |
Current Liabilities |
224,698,000 |
|
Inventories |
349,947,000 |
Long-term Liabilities |
338,321,000 |
|
Fixed Assets |
127,551,000 |
Other Liabilities |
11,157,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
574,176,000 |
|
Invest& other Assets |
0,000 |
Retained Earnings |
178,496,000 |
|
|
|
Net Worth |
226,285,000 |
|
Total Assets |
800,461,000 |
Total Liab. & Equity |
800,461,000 |
|
Total Assets (Previous Year) |
564,467,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
1,376,152,000 |
Net Profit |
40,133,000 |
|
Sales(Previous yr) |
916,837,000 |
Net Profit(Prev.yr) |
24,705,000 |
MIRA
INFORM REPORT
|
Report Date : |
07.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
SARA SUOLE PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
SARA SOULE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Survey No.62, Site No.13, 6th Cross, N.S. Palya, BTM
Layout, Bangalore-560076, Karnataka |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
26.04.2001 |
|
|
|
|
Com. Reg. No.: |
08-028955 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 47.789 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U19119KA2001PTC028955 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRS05222A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCS4682N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Leather Soles and Shoes. |
|
|
|
|
No. of Employees : |
4500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 900000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The
latest financials of the company are not made available. As per previous
year’s record, the liquidity of the subject appears to be stretched. However, trade relations are reported as fair. Business is active.
Payment terms are slow. The company can be considered for business dealings with great
caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces of
its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to become
a major exporter of information technology services and software workers. In
2010, the Indian economy rebounded robustly from the global financial crisis -
in large part because of strong domestic demand - and growth exceeded 8%
year-on-year in real terms. However, India's economic growth in 2011 slowed
because of persistently high inflation and interest rates and little progress
on economic reforms. High international crude prices have exacerbated the
government's fuel subsidy expenditures contributing to a higher fiscal deficit,
and a worsening current account deficit. Little economic reform took place in
2011 largely due to corruption scandals that have slowed legislative work.
India's medium-term growth outlook is positive due to a young population and
corresponding low dependency ratio, healthy savings and investment rates, and
increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
BB (Fund Based Working Capital Limits) |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
December 2012 |
|
Rating Agency Name |
ICRA |
|
Rating |
BB (Term Loan) |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
December 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.
LOCATIONS
|
Registered Office : |
Survey No. 62, Site No.13, 6th Cross, N.S. Palya, BTM
Layout, Bangalore-560076, Karnataka, India
|
|
Tel. No.: |
91-80-49072800 / 28429804 / 28429381 / 28429377 / 28429300 |
|
Fax No.: |
91-80-49072899 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
20000 Sq. Ft. |
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
Survey No. 192/1, 192/2, 193/3, C K Palya, Sakalavara Post, Bannerghatta
Road, Bangalore, Karnataka, India |
|
Area : |
53000 Sq. Ft. |
|
Location : |
Rented |
|
|
|
|
Factory 2 : |
Survey No. 187/3, 187/4, C K Palya, Sakalavara Post, Bannerghatta
Road, Bangalore, Karnataka, India |
|
Tel. No.: |
91-80-28429804/ 28429826, 28429830 |
|
Fax No.: |
91-80-28429844 |
|
E-Mail : |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Kayum Razak Dhanani |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
65, 4th Cross, 36A Main BTM, 1 Stage Dollar Scheme,
Bangalore-560068, Karnataka, India |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
07.05.1972 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
30.03.2005 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00987597 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Ms. Bipasha Pal |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
65, 4th Cross, 36A Main BTM, 1 Stage Dollar Scheme,
Bangalore-560068, Karnataka, India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
30.08.1966 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
26.04.2001 |
|||||||||||||||||||||||||||
|
DIN No.: |
00904266 |
|||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||
|
Name : |
Mr. Paveet Amin Girishbhai |
|||||||||||||||||||||||||||
|
Designation : |
Additional Director |
|||||||||||||||||||||||||||
|
Address : |
187/04, CK Palya Sakalavara Post , Bangalore-560083, Karnataka,
India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
03.02.1972 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
16.08.2011 |
|||||||||||||||||||||||||||
|
DIN No.: |
03570893 |
|||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
Bipasha Pal |
344900 |
|
Chita Narendra |
100 |
|
Kayum Dhanani |
2293333 |
|
Blue Deebaj Chemicals LLC, Dubai |
161687 |
|
Indus Salt Fze, UAE |
1978884 |
|
|
|
|
TOTAL |
4778904 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2012
|
Equity Shares
Break Up |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
18.50 |
|
Directors or relatives of Directors |
81.50 |
|
|
|
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Leather Soles and Shoes. |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
|
Soles |
In Paris |
2100000 |
2100000 |
|
Shoes |
In Paris |
1200000 |
1200000 |
GENERAL INFORMATION
|
Customers : |
·
Bugatti Shoes ·
Hush Puppies ·
Karstadt ·
Witchery ·
Sterling and Hunt ·
SIEMES ·
Cinti ·
ESPRIT ·
Bostonian ·
Bata |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
4500 (Approximately) |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
State Bank of Mysore, Srinagar Shopping Complex,
M G Road, Bangalore - 560001, Karnataka, India ·
State Bank of Travankore, MM Hills Vartha Bhavan,
Tippu Sultan Palace Road, Chamarajpet, Bangalore - 560018, Karnataka, India ·
State Bank of India ·
State Bank of Mysore, MID Corporate Central
Processing Centre, SBM Head Office, K G Road, Bangalore - 560009, Karnataka,
India |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Ishwar and
Gopals Chartered Accountant |
|
Address : |
Sri Vinayaka Building,
NO. 21/3, T.S.P Road, Kalasipalyam, Bangalore-560002, Karnataka, India |
|
Pan No.: |
AAAFI2474E |
|
|
|
|
Associates : |
Name: Welterman
International Limited Address: Vadodara,
Gujarat, India Line of Business
: Manufacturer and Exporter of Leather Soles and Shoes. |
CAPITAL STRUCTURE
AS ON 31.03.2011
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 |
|
|
|
|
|
|
4778904 |
Equity Shares |
Rs.10/- each |
Rs.47.789
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
1] Share Capital |
47.789 |
47.789 |
47.789 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
178.496 |
138.362 |
113.656 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
226.285 |
186.151 |
161.445 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
334.321 |
256.944 |
220.372 |
|
|
2] Unsecured Loans |
4.000 |
0.000 |
5.341 |
|
|
TOTAL BORROWING |
338.321 |
256.944 |
225.713 |
|
|
DEFERRED TAX LIABILITIES |
3.117 |
2.345 |
2.291 |
|
|
|
|
|
|
|
|
TOTAL |
567.723 |
445.440 |
389.449 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
127.551 |
78.898 |
76.442 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
349.947
|
233.778 |
191.091 |
|
|
Sundry Debtors |
128.029
|
98.873 |
102.097 |
|
|
Cash & Bank Balances |
18.435
|
10.305 |
12.947 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
176.499
|
142.613 |
153.441 |
|
Total
Current Assets |
672.910
|
485.569 |
459.576 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
196.561
|
86.010 |
0.000 |
|
|
Other Current Liabilities |
28.137
|
29.486 |
136.804 |
|
|
Provisions |
8.040
|
3.531 |
9.765 |
|
Total
Current Liabilities |
232.738
|
119.027 |
146.569 |
|
|
Net Current Assets |
440.172
|
366.542 |
313.007 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
567.723 |
445.440 |
389.449 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales and Services |
1376.152 |
916.837 |
814.669 |
|
|
|
Miscellaneous Income |
25.033 |
11.955 |
1.521 |
|
|
|
TOTAL (A) |
1401.185 |
928.792 |
816.190 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
NA |
830.524 |
746.669 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
98.268 |
69.521 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
42.595 |
31.662 |
36.267 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
66.606 |
33.254 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
19.162 |
14.417 |
11.884 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
NA |
52.189 |
21.370 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
NA |
27.484 |
9.713 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
40.133 |
24.705 |
11.657 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
117.946 |
77.812 |
53.107 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
992.997 |
684.866 |
662.914 |
|
|
TOTAL EARNINGS |
992.997 |
684.866 |
662.914 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
107.595 |
73.817 |
23.387 |
|
|
|
Consumables |
28.803 |
8.541 |
8.191 |
|
|
|
Stores & Spares |
7.305 |
6.395 |
8.373 |
|
|
|
Capital Goods |
24.245 |
1.713 |
9.766 |
|
|
TOTAL IMPORTS |
167.948 |
90.466 |
49.717 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
8.40 |
5.00 |
3.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.92
|
2.66 |
1.43 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
5.69 |
2.62 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
9.25 |
3.99 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.28 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.54
|
2.03 |
2.32 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.89
|
4.08 |
3.14 |
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 |
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 |
Yes |
|
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 |
NOTE
Registered office has been shifted from Sy.No.187/3 and 187/4(A), C. K.
Palya, Sakalavara Post, B. G. Road, Bangalore-560083, Karnataka India to the
present address w.e.f. 16.08.2011.
Bankers Charges Report
as per Registry
|
Corporate identity
number (CIN) or foreign company registration
number of the company |
U19119KA2001PTC028955 |
|
Name of the
company |
SARA SUOLE
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
Survey No.62, Site No.13, 6th Cross, N.S. Palya, BTM
Layout, Bangalore-560076, Karnataka, India E-mail: finance@sargroup.in |
|
This form is for |
Creation of
charge |
|
Type of charge |
·
Book
debts ·
Movable
property (not being pledge) |
|
Particular of
charge holder |
State Bank of Travankore, MM Hills Vartha Bhavan, Tippu Sultan Palace
Road, Chamarajpet, Bangalore - 560018, Karnataka, India E-mail: bangalore@sbt.co.in |
|
Nature of
instrument creating charge |
i. Agreement of
loan for over all working capital. Ii. Agreement of
hypothecation of goods and assets. |
|
Date of
instrument Creating the charge |
10.07.2012 |
|
Amount secured by
the charge |
Rs.45.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Administered
rates applicable exporter credit. Terms of
Repayment On demand Margin 25% on stocks and
nil on the export receivables. Extent and
Operation of the charge Paripassu first
charge on the current Assets of the Company till the repayment of the loan |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Entire Current
Assets of the Company on Paripassu first charge. |
FIXED ASSETS
·
Plant and Machinery
·
Building
·
Office Equipments
·
Electrical Equipment
·
Computer
·
Furniture and Fixtures
·
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.55.38 |
|
|
1 |
Rs.87.80 |
|
Euro |
1 |
Rs.69.48 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
29 |
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.