MIRA
INFORM REPORT
|
Report Date : |
15.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
SAYONA COLORS PRIVATE LIMITED (w.e.f. 17.02.2009) |
|
|
|
|
Formerly Known
As : |
SENCIENT INDIA EXPORT PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
201, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
27.04.2007 |
|
|
|
|
Com. Reg. No.: |
04-50683 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.71.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74900GJ2007PTC050683 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMS17464G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAKCS8327F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Dye and Chemicals. |
|
|
|
|
No. of Employees
: |
80 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1200000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory tract record.
Latest financials i.e. 2011-12 are missing from the government department. From
the previous year record available 2011. It seems that the profitability of
the company appears to be low. However, networth of the company is
satisfactory. Trade relations are reported as fair. Business is active.
Payment are reported to be usually correct and as per commitment. The company can be considered normal for business dealings at usual
trade terms and condition. |
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 |
CRISIL |
|
Rating |
Letter of Credit = A3 |
|
Rating Explanation |
Moderate degree of safety. It carry higher credit risk. |
|
Date |
05.09.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Cash Credit = BBB- |
|
Rating Explanation |
Moderate degree of safety. It carry moderate credit risk. |
|
Date |
05.09.2012 |
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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Pareshbhai Dayalji Patel |
|
Designation : |
Director |
|
Contact No.: |
91-9825767682 |
|
Date : |
12.01.2013 |
LOCATIONS
|
Registered Office : |
201, |
|
Tel. No.: |
91-79-66314147 / 66314148 |
|
Mobile No.: |
91-9825767682 (Mr. Pareshbhai Dayalji Patel) |
|
Fax No.: |
91-79-66314146 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1350 Sq. Fts |
|
Location : |
Owned |
|
|
|
|
Factory : |
161/162, GIDC Phase – II, Naroda, Ahmedabad, |
|
Area : |
Approximately 4000 Sq. Yard |
|
Location : |
Leased |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Pareshbhai Dayalji Patel |
|
Designation : |
Director |
|
Address : |
3, Vimal Complex, Memnagar, Ahmedabad – 380053, |
|
Date of Birth/Age : |
12.05.1969 |
|
Qualification : |
B. Sc |
|
Date of Appointment : |
27.04.2007 |
|
PAN No.: [Permanent Account No.] |
ANPPP0312A |
|
DIN No.: |
01386427 |
|
|
|
|
Name : |
Mrs. Nipanben Paresh Patel |
|
Designation : |
Director |
|
Address : |
3, Vimal Complex, Memnagar, Ahmedabad – 380053, |
|
Date of Birth/Age : |
30.04.1972 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
27.04.2007 |
|
PAN No.: [Permanent Account No.] |
ACSPP9761F |
|
DIN No.: |
01243124 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Pareshkumar D.Patel |
|
4598000 |
|
Nipa P. Patel |
|
512000 |
|
Dayaljibhai T Patel |
|
700000 |
|
Manjulaben D. Patel |
|
430000 |
|
Brijesh J. Patel |
|
280000 |
|
Devika N. Patel |
|
210000 |
|
J. N. Patel |
|
210000 |
|
G. G. Patel |
|
140000 |
|
R. G. Patel |
|
140000 |
|
G. N. Patel |
|
140000 |
|
Vimal L. Patel |
|
140000 |
|
Total |
|
7500000 |
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 Dye and Chemicals. |
|
|
|
|
Exports : |
|
|
Products : |
Dye and Chemicals |
|
Countries : |
USA |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
Singapore |
|
|
|
|
Terms : |
|
|
Selling : |
Cash / Credit |
|
|
|
|
Purchasing : |
Cash / Credit |
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Food Colors |
MT |
2100.00 |
1216.88 |
|
FMCG Prodcuts |
MT |
9000.00 |
5750.00 |
GENERAL INFORMATION
|
Suppliers : |
Hindprakash International Private Limited |
|||||||||
|
|
|
|||||||||
|
Customers : |
Wholesalers and Retailers ·
RMC International USA |
|||||||||
|
|
|
|||||||||
|
No. of Employees : |
80 (Approximately) |
|||||||||
|
|
|
|||||||||
|
Bankers : |
·
State Bank of Patiala, MID Corporation Branch,
Vishwas Complex, Opposite Jain Derasar, Navrangpur, Ahmedabad – 380009,
Gujarat, India ·
Canara bank, Bhadra, Ahmedabad – 380001, Gujarat,
India |
|||||||||
|
|
|
|||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors 1 : |
|
|
Name : |
Hiren Buch and Associates Chartered Accountants |
|
Address : |
2/A, Ravi Villa, Opposite Diwan Baluubhai High School, Kankaria,
Ahmedabad, Gujarat, India |
|
|
|
|
Auditors 2 : |
|
|
Name : |
J S Pandit and Associates Chartered Accountants |
|
Address : |
Ahmedabad, Gujarat, India |
|
PAN.: |
AISPP4110C |
CAPITAL STRUCTURE
As on 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7500000 |
Equity Shares |
Rs.10/- each |
Rs.75.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7500000 |
Equity Shares |
Rs.10/- each |
Rs.75.000 Millions |
|
|
|
|
|
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7500000 |
Equity Shares |
Rs. 10 each |
Rs.75.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7100000 |
Equity Shares |
Rs. 10 each |
Rs.71.000
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 |
71.000 |
71.000 |
19.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
95.339 |
|
|
3] Reserves & Surplus |
244.179 |
214.691 |
9.308 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
315.179 |
285.691 |
123.647 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
225.816 |
87.725 |
31.993 |
|
|
2] Unsecured Loans |
71.500 |
71.500 |
21.392 |
|
|
TOTAL BORROWING |
297.316 |
159.225 |
53.385 |
|
|
DEFERRED TAX LIABILITIES |
3.887 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
616.382 |
444.916 |
177.032 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
150.165 |
124.370 |
59.506 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
3.500 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
401.440
|
216.651
|
69.091
|
|
|
Sundry Debtors |
235.642
|
200.062
|
46.828
|
|
|
Cash & Bank Balances |
9.609
|
5.951
|
5.894
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
27.084
|
4.261
|
2.227
|
|
Total
Current Assets |
673.775
|
426.925
|
124.040 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
107.106
|
6.744
|
|
|
Other Current Liabilities |
204.443
|
|
|
|
|
Provisions |
7.525
|
0.000
|
0.000
|
|
Total
Current Liabilities |
211.968
|
107.106
|
6.744 |
|
|
Net Current Assets |
461.807
|
319.819
|
117.296 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.910 |
0.727 |
0.230 |
|
|
|
|
|
|
|
|
TOTAL |
616.382 |
444.916 |
177.032 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
NA |
NA |
443.335 |
|
|
|
Other Income |
NA |
NA |
0.000 |
|
|
|
TOTAL (A) |
NA |
NA |
443.335 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
NA |
NA |
430.710 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
NA |
NA |
430.710 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
63.105 |
34.231 |
12.625 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
15.189 |
9.071 |
3.493 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
47.916 |
25.160 |
9.132 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
7.015 |
4.527 |
2.651 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
40.901 |
20.633 |
6.481 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
11.413 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
29.488 |
20.633 |
6.481 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
29.941 |
9.308 |
2.827 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
59.429 |
29.941 |
9.308 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
365.211 |
236.930 |
187.357 |
|
|
TOTAL EARNINGS |
365.211 |
236.930 |
187.357 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
121.188 |
84.545 |
40.681 |
|
|
TOTAL IMPORTS |
121.188 |
84.545 |
40.681 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.15 |
2.90 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
NA
|
1.46 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA
|
1.46 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.96
|
3.74
|
3.53 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13
|
0.07
|
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.62
|
0.93
|
0.49 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.18
|
3.98
|
18.39 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS - NOT AVAILABLE
|
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
OPERATIONS AND SALES
The company is financial position is improving better and better over the years. The Company has achieved Gross Sales of Rs. 2485.658 Millions (P. Y. Rs. 1144.246 Millions) including Export Sales of Rs. 365.211 Millions (P. Y. Rs. 236.930 Millions) during the year 2010-11. The Company could increase the Gross Sales in view of the fact that it had fully implemented the expansion programme for capacity increase upto 1500 mtpa in the Food Colors Segment. The Company has achieved Net Profit of Rs. 29.488 Millions (P.Y. Rs.20.633 Millions) during the year 2001-11.
The Company has achieved performance level in the Gross Sales of 140.54 % against the Estimated Gross Sales of Rs. 1769.019 Millions for the year 2010-11. Similarly, the Company has achieved performance level in the Net Profit of 96.20 % against the Estimated Net Profit of Rs. 21.448 Millions for the year 2010-11. The minor shortfall in the performance level is attributed to the fact that the Company has taken part in The 15TH Gulf Food, Hotel and Equipment Exhibition and Salon Culinaire, Dubai International Convention and Exhibition Centre which was held at Dubai World Trade Centre, Dubai on 21-29 February, 2010. The company had booked its stall for the Exhibition and witnessed to see large participation in the Exhibition by overseas as well as domestic business visitors. The participation in such exhibition shall accrue benefits to the Company in the future as. Such benefits are accruing to the company.
NEW SEGMENT IN
PRODUCTS (FMCG).
The company has also added with effect from 01.09.2009, the manufacturing of FMCG (Fast Moving Consumer Goods) Products which includes : Professional Cleaning Products and Accessories, Detergents, Toilet Soaps, Food Colorings in packing for hotel, restaurant, schools, hospital etc. Presently, the company has taken such unit on rented basis with an Installed Capacity of 9000 MTPA working for Single shift for 300 days per Annum at its Plant situated at 525, Aslali, B/h. I.B.P. Pump, Near Forest Department, Aslali, Narol, Ahmedabad.
AWARD
The Company has bagged the International Europe Award for Quality for its Food Colors from Trade Leaders' Club, Madrid, (Espana).
Rs. In Millions
|
Unsecured Loan |
As
on 31.03.2011 |
As
on 31.03.2010 |
|
Loans directors unsecured |
64.221 |
64.221 |
|
Other debt unsecured |
7.279 |
7.279 |
|
Total |
71.500 |
71.500 |
BANKERS CHARGES REPORT
AS PER REGISTRY
|
Corporate
identity number of the company |
U74900GJ2007PTC050683 |
|
Name of the
company |
SAYONA COLORS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
201, |
|
This form is for |
Creation of charge |
|
Type of charge |
· Immovable property · Book debts · Movable property (not being pledge) ·
Others (all current assets) |
|
Particular of
charge holder |
State Bank of |
|
Nature of
instrument creating charge |
1. Memorandum
relating to Deposit of Title deeds dated 24.08.2012 executed by State bank of
Patiala (lead bank) and State bank of Mysore. 2. Joint deed of Hypothecation
dated 24.08.2012 executed by State bank of Patiala (lead bank) and State bank
of Mysore. 3. Working
Capital Consortium Agreement dated 24.08.2012 Note : (SBP
refers to State Bank of Patiala [Lead Bank] AND SBM refers to State Bank of
Mysore) |
|
Date of
instrument Creating the charge |
24.08.2012 |
|
Amount secured by
the charge |
Rs.850.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest State Bank of Patiala-CCH:ROI
@3% above base rate, presently 13.50% (floating) p.a at monthly rests State Bank of
Mysore-ROI 3.50% margin above the base rate; presently 10.50% p.a. Present
ROI 14% pa Terms of Repayment Repayable on
Demand. Margin SBP-(1).RM/SIP/FG/stores
and spares - 25 % (2). Book debts (not exceeding 120 days) 50% (3). Export
preshipment stocks - 10 % (4) LC limit
- 15% (by way of cash/bank own tdrs duly discharged against bank lien) (5)
bank guarantee - performance gurantee 100 % (of which minimum 25 % will be in
cash) financial gurantee 20% SBM - (1)
RM/SIP/FG/stores and spares - 25 % (2). Book debts (not exceeding 90 days)
40% (3) LC limit - 15% (by way of cash/bank own tdrs duly discharged against
bank lien Extent and Operation of the charge Operate as
continuing security for all moneys indebted. Others Rs. In Millions Bank Wise of details CC LC/BG TOTAL State Bank of patiala (lead bank) 400.000
325.000 725.000 State Bank of Mysore 50.000 75.000 125.000 _____________________________________ 450.000 400.000 850.000 |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Equitable mortgage of lease hold land and factory buildings theron (present and future) situated at Plot No 162 + 163/1 Phase - 1 GIDC Industrial Estate, Naroda, Ahmedabad Hypothecation of stocks/book-debts (including export receivables), other current assets and movable assets (present and future). Immovable preoperties owned by Mrs. Nipaben P. Patel situated at Office No. 201, 202, University Plaza, Vijay Char Rasta, Navrangpura, Ahmedabad. |
FIXED ASSETS
· Building
· Factory building
· Plant machinery
· Equipments
· Computer
· Other equipments
· Furniture 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.54.64 |
|
|
1 |
Rs.88.17 |
|
Euro |
1 |
Rs.73.13 |
INFORMATION DETAILS
|
Information Gathered
by : |
PJA |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.