MIRA
INFORM REPORT
|
Report Date : |
17.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
RAINBOW LAMINATE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
C/O. Jaydeep Tiles Private Limited, 8-A, National Highway, Lalpar, Morbi – 363642, Gujarat |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
05.11.2008 |
|
|
|
|
Com. Reg. No.: |
04-055365 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 19.014 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U20299GJ2008PTC055365 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RKTR02516D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECR1563J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Laminated Products and Ceramic
Products |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (17) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The
management of company has failed to file 2010-11 and 2011-12 financials with the
government department. Also the management remain non-cooperative denied to
part any information about the company. From the previous year record, there
appears huge external borrowing recorded by the company. However, business is
active. Payments are unknown. The company can be considered for business dealings on a secured 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 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
|
Name : |
Mr. Gopal |
|
Contact No.: |
91-9810355987 |
|
Date : |
16.01.2013 |
LOCATIONS
|
Registered Office : |
C/O. Jaydeep Tiles Private Limited, 8-A, National Highway,
Lalpar, Morbi – 363642, Gujarat, India |
|
Tel. No.: |
91-2822-294770 |
|
Mobile No.: |
91-9810355987 (Mr. Gopal) |
|
Fax No.: |
91-2822-240703 |
|
E-Mail : |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Devarajbhai Kalubhai Aghara |
|
Designation : |
Director |
|
Address : |
Bhadiad, Morbi – 363642, Gujarat, India |
|
Date of Birth/Age : |
14.12.1942 |
|
Date of Appointment : |
05.11.2008 |
|
DIN No.: |
01348432 |
|
|
|
|
Name : |
Mr. Kantilal Devraj Aghara |
|
Designation : |
Director |
|
Address : |
Nagar Plot, Behind Dr. Mankad House, Morbi – 363641,
Gujarat, India |
|
Date of Birth/Age : |
04.03.1967 |
|
Date of Appointment : |
05.11.2008 |
|
DIN No.: |
01696965 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Devrajbhai Kalubhai Aghara |
|
160000 |
|
Kantilal Devraj Aghara |
|
255000 |
|
Kailashben Dineshbhai Marvanjya |
|
411000 |
|
Chetnaben Manishkumar Detroja |
|
144000 |
|
Sarang Vinijog Limited, India |
|
23000 |
|
Canary Tradecon Private Limited, India |
|
31500 |
|
Refresh Commotrade Private Limited, India |
|
32000 |
|
Engage Vinimay Private Limited, India |
|
43000 |
|
Roopkala Vfrpaar Private Limited, India |
|
57000 |
|
Nigus Tradecom Private Limited, India |
|
114000 |
|
Himul Tracom Private Limited, India |
|
71700 |
|
Jelly Commotrade Private Limited, India |
|
29000 |
|
Mrinalini Vinimay Private Limited, India |
|
3000 |
|
Mrinmoyee Vinimay Private Limited, India |
|
10000 |
|
Jeevan Commotrade Private Limited, India |
|
3000 |
|
Life Line Vjntrade Private Limited, India |
|
3500 |
|
Julep ComiiJ'3trade Private Limited, India |
|
25000 |
|
Hungerford Constructions Private Limited, India |
|
57000 |
|
Krishna apartments Private Limited, India |
|
43000 |
|
Gokul Vyapaar Private Limited, India |
|
43000 |
|
Crossrods Systems Private Limited, India |
|
57000 |
|
Mangolia Vinimay Private Limited, India |
|
100000 |
|
Pediment Commotrade Private Limited, India |
|
40000 |
|
Jerk Commotrade Private Limited, India |
|
117000 |
|
Jai Hantiman Commotrade Private Limited, India |
|
28700 |
|
Total |
|
1901400 |
As on 14.01.2012
|
Names of Allottees |
|
No. of Shares
Allotted |
|
Amanat Traders Private Limited, India |
|
2250 |
|
Ashika Dealcomm Private Limited, India |
|
1875 |
|
Desire Merchandise Private Limited, India |
|
1125 |
|
Dhruv Dealtrade Private Limited, India |
|
6375 |
|
Gita Vinimay Private Limited, India |
|
750 |
|
Harshita Sales Private Limited, India |
|
1875 |
|
Lakepoint Commercial Private Limited, India |
|
20750 |
|
Lark Commercial Private Limited, India |
|
9000 |
|
Lemon Vincom Private Limited, India |
|
500 |
|
Lyton Constructions Private Limited, India |
|
3375 |
|
Macro Commodeal Private Limited, India |
|
5625 |
|
Macro Tradecomm Private Limited, India |
|
2250 |
|
Pratigya Commotrade Private Limited, India |
|
1875 |
|
Scope Vintrade Private Limited, India |
|
1000 |
|
Shankar vincom Private Limited, India |
|
625 |
|
Shivmangal Agency Private Limited, India |
|
1875 |
|
Singhania Stock Broking Private Limited, India |
|
6750 |
|
Sketch Agency Private Limited, India |
|
3375 |
|
Star Merchants Private Limited, India |
|
4500 |
|
Suman Infraprojects Private Limited, India |
|
2500 |
|
Suman Towers Private Limited, India |
|
6850 |
|
Techmech Traders Private Limited, India |
|
2250 |
|
Total |
|
87350 |
As on 31.03.2012
|
Names of Allottees |
|
No. of Shares
Allotted |
|
Ashika Dealcomm Private Limited, India |
|
3750 |
|
Harshita Sales Private Limited, India |
|
3125 |
|
Suman Towers Private Limited, India |
|
4375 |
|
Saraswati Poly Yarns Private Limited, India |
|
1250 |
|
Total |
|
12500 |
As on 25.08.2012
|
Names of Allottees |
|
No. of Shares
Allotted |
|
Devrajbhai Kalubhai Aghara |
|
1250000 |
|
Kantilal Devraj Aghara |
|
1770000 |
|
Kailashben Dineshbhai Marvanjya |
|
680000 |
|
Chetnaben Manishkumar Detroja |
|
200000 |
|
Parth Kantilal Aghara |
|
600000 |
|
Total |
|
4500000 |
As on 30.09.2010
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
48.98 |
|
Directors or relatives of Directors |
51.02 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Laminated Products and Ceramic Products |
|
|
|
|
Products : |
·
Laminated Products ·
Ceramic products
|
GENERAL INFORMATION
|
Suppliers : |
· Nanalal P, Hadial · H. R. Industries · Gurukrupa Engineering Works · Parth Industries · Blue Star Limited · Real Engineering and Boiler Repairers · Rajan Steel Fabricators · Arihant Enterprise · Shubhangi Papers Private Limited · Parekh Overseas · JMC Exim India Private Limited · Boilsave Chemicals · Vitrag Associates · Evergreen Trading Company · Mala Timber Mart · Vedant Tradelink Private Limited · Mahadev Paper Corporation · Sidmark Sales Enterprise Private Limited · Fakirsons Papchem Private Limited · Karan Monomer's Private Limited · Multi Scarf (India) Private Limited · Global Infotech · Gurudeo Chemical Private Limited · Sonkamal Enterprises Private Limited |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Customers : |
· Abbey Enterprise · Abhay Sales · Jason Decor Private Limited – Ahmedabad · Madhav Marketing · Shivam Laminates · SMv Marketing · Swastrk Laminates · Sharda Sales · Om Marketing · Vljay Luminaries · Jason Decor Private Limited - Pune · Maxx Marketing · Vmay Sales · Rainbow Plylem · Rainbow Laminate · Reva Decore · Jainam Decora · Roto Sates Corporation · Rainbow Enterprise |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
· Oriental Bank of Commerce, Mangal Murti Complex, 8 A National Highway, Near Trajpar,, Morbi - 363642, Gujarat, India · State Bank of India · Small Industries Development Bank of India |
||||||||||||||||||
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||||||||||||||||||
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Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Nanalal P. Hadial Chartered
Accountant |
|
Address : |
Shakti Complex, 1st Floor, Nr. Dr. Rupala Hospital, 16, Savsar Plot,
Morbi –
363641, Gujarat, India |
|
Tel. No.: |
91-2822-225881 / 227681 |
|
PAN.: |
AAHPH2014C |
CAPITAL STRUCTURE
After 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6600000 |
Equity Shares |
Rs.10/- each |
Rs.66.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6501250 |
Equity Shares |
Rs.10/- each |
Rs.65.013
Millions |
|
|
|
|
|
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1901400 |
Equity Shares |
Rs.10/- each |
Rs.19.014
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
19.014 |
0.100 |
|
|
2] Share Application Money |
|
0.000 |
22.530 |
|
|
3] Reserves & Surplus |
|
28.899 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
47.913 |
22.630 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
53.244 |
0.000 |
|
|
2] Unsecured Loans |
|
27.777 |
0.000 |
|
|
TOTAL BORROWING |
|
81.021 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
0.479 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
129.413 |
22.630 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
66.218 |
5.816 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
52.081
|
0.000 |
|
|
Sundry Debtors |
|
40.136
|
0.000 |
|
|
Cash & Bank Balances |
|
1.501
|
9.329 |
|
|
Other Current Assets |
|
0.000
|
0.000 |
|
|
Loans & Advances |
|
13.006
|
7.466 |
|
Total
Current Assets |
|
106.724
|
16.795 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
42.244
|
0.034 |
|
|
Other Current Liabilities |
|
1.038
|
0.007 |
|
|
Provisions |
|
0.255
|
0.000 |
|
Total
Current Liabilities |
|
43.537
|
0.041 |
|
|
Net Current Assets |
|
63.187
|
16.754 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.008 |
0.060 |
|
|
|
|
|
|
|
|
TOTAL |
|
129.413 |
22.630 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
91.311 |
0.000 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
|
91.311 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
89.763 |
0.000 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
|
89.763 |
0.000 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
1.548 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
0.255 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
1.293 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
0.68 |
0.00 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
|
1.42
|
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
0.90
|
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.03
|
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
2.60
|
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
2.45
|
409.63 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
Rs.
In Millions
|
Particular |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
42.244
|
0.034 |
|
|
|
|
s
SUNDRY CREDITORS
DETAILS (PARTIAL DETAILS)
Rs. In Millions
|
Particular |
31.03.2010 |
31.03.2009 |
|
Nanalal P, Hadial |
0.008
|
0.000 |
|
H. R. Industries |
0.232 |
0.000 |
|
Gurukrupa Engineering Works |
0.154 |
0.000 |
|
Parth Industries |
0.263 |
0.000 |
|
Blue Star Limited |
0.185 |
0.000 |
|
Real Engineering and Boiler Repairers |
0.036 |
0.000 |
|
Rajan Steel Fabricators |
0.357 |
0.000 |
|
Arihant Enterprise |
0.354 |
0.000 |
|
Shubhangi Papers Private Limited |
3.867 |
0.000 |
|
Parekh Overseas |
0.518 |
0.000 |
|
JMC Exim India Private Limited |
7.725 |
0.000 |
|
Boilsave Chemicals |
0.019 |
0.000 |
|
Vitrag Associates |
1.161 |
0.000 |
|
Evergreen Trading Company |
0.966 |
0.000 |
|
Mala Timber Mart. |
0.304 |
0.000 |
|
Vedant Tradelink Private Limited |
0.100 |
0.000 |
|
Mahadev Paper Corporation |
3.206 |
0.000 |
|
Sidmark Sales Enterprise Private Limited |
0.578 |
0.000 |
|
Fakirsons Papchem Private Limited |
0.846 |
0.000 |
|
Karan Monomer's Private Limited |
4.521 |
0.000 |
|
Multi Scarf (India) Private Limited |
1.175 |
0.000 |
|
Global Infotech |
0.051 |
0.000 |
|
Gurudeo Chemical Private Limited |
0.568 |
0.000 |
|
Sonkamal Enterprises Private Limited |
1.173 |
0.000 |
|
Balaji Stone |
0.000 |
0.034 |
|
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 |
No |
|
11] |
Turnover of firm for last two years |
Yes |
|
12] |
Profitability for last two 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 |
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 |
No |
FINANCIAL PERFORMANCE:
During the year, the company has earned total
income of Rs.91.311 Millions (Previous year Nil) whereas total expenditure of
the company was Rs.89.763 Millions (Previous year Nil). Company has incurred
net profit of Rs.1.293 Millions (Previous year Nil).
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U20299GJ2008PTC055365 |
|
Name of the
company |
RAINBOW LAMINATE
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
C/O. Jaydeep
Tiles Private Limited, 8-A, National Highway, Lalpar, Morbi – 363642,
Gujarat, India |
|
This form is for |
Modification of charge |
|
Charge identification
(ID) number of the charge to be modified |
10171430 |
|
Type of charge |
· Movable property (not being pledge) ·
Floating charge |
|
Particular of
charge holder |
Oriental Bank of Commerce, Mangal Murti Complex, 8 A National Highway, Near Trajpar,, Morbi - 363642, Gujarat, India |
|
Nature of
instrument creating charge |
Agreement of
Hypothecation of Assets date. 27.09.2012. |
|
Date of
instrument Creating the charge |
27.09.2012 |
|
Amount secured by
the charge |
Rs.36.500
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest 1. CC- BR + 3.50%
p.a. which works out at 13.90% p.a. (present BR of the Bank is 10.40%) with monthly
rests. 2. Bank Guarantee
- As per rules (HO/RBI guidelines) Terms of Repayment Floating Charge. Margin - CC - 25%. - Bank Guarantee-
25%. Extent and Operation of the charge Floating Charge
payable on demand. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation of stock of raw materials, store/spares, stock in process and finished goods and entire receivables. Hypothecation of current assets of the Company. |
|
Date of
instrument modifying the charge |
20.04.2011 |
|
Particulars of
the present modification |
Overall limit
enhanced from Rs. 30.000 Millions to Rs. 36.500 Millions divided into Cash
Credit Rs. 30.000 Millions (Sub limit Rs.15.000 Millions Book Debt) and Bank
Guarantee Rs. 6.500 Millions. |
UNSECURED LOAN
Rs. In Millions
|
Particular |
As
on 31.03.2010 |
As
on 31.03.2009 |
|
Form Director |
|
|
|
Devrabhai Kalubhai |
9.977 |
0.000 |
|
Kantilal Devrajbhai |
4.550 |
0.000 |
|
From the Shareholders
and Relatives of Director |
|
|
|
Kailshben Dineskumar |
10.655 |
0.000 |
|
Chetanaben Manishkumar |
1.840 |
0.000 |
|
From Corporate
Bodies |
|
|
|
Jaydeep Tiles Private Limited |
0.755 |
0.000 |
|
Total |
27.777 |
0.000 |
FIXED ASSETS
· Factory Land
· Factory Building
· Machineries
· Electric Installation
· Dies and Moulds
· Dead Stock
· Weight Scale
· Air Conditioners
· Computer
· Mobile
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.87.99 |
|
Euro |
1 |
Rs.72.83 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
-- |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
17 |
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.