1. Summary Information
|
|
|
Country |
India |
|
Company Name |
ADVANCE CABLE
TECHNOLOGIES PRIVATE LIMITED |
Principal Name 1 |
Mr. Dinesh kumar jain |
|
Status |
Moderate |
Principal Name 2 |
Mr. Nikhlesh Jain |
|
|
|
Registration # |
08-031116 |
|
Street Address |
G-1, Sunrise
Serenity, No. 1, 40 feet Road,
M R Garden, Gedanahalli, Ashwathnagar, Bangalore – 560094, Karnataka, India |
||
|
Established Date |
16.10.2002 |
SIC Code |
-- |
|
Telephone# |
91-80-23516733 - 34 |
Business Style 1 |
Manufacturing |
|
Fax # |
91-80-23516732 |
Business Style 2 |
-- |
|
Homepage |
-- |
Product Name 1 |
Copper And Aluminium Cables |
|
# of employees |
Not Available |
Product Name 2 |
-- |
|
Paid up capital |
Rs.
16,506,000/- |
Product Name 3 |
-- |
|
Shareholders |
Directors or relatives of Directors – 100% |
|
|
|
Public Limited Corp. |
No |
Business Period |
10 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
B (27) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
108,949,000 |
Current Liabilities |
58,961,000 |
|
Inventories |
34,606,000 |
Long-term Liabilities |
99,518,000 |
|
Fixed Assets |
47,210,000 |
Other Liabilities |
874,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
159,353,000 |
|
Invest& other Assets |
0,000 |
Retained Earnings |
9,906,000 |
|
|
|
Net Worth |
31,412,000 |
|
Total Assets |
190,765,000 |
Total Liab. & Equity |
190,765,000 |
|
Total Assets (Previous Year) |
133,282,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
349,804,000 |
Net Profit |
4,507,000 |
|
Sales(Previous yr) |
244,736,000 |
Net Profit(Prev.yr) |
3,110,000 |
MIRA
INFORM REPORT
|
Report Date : |
22.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
ADVANCE CABLE TECHNOLOGIES PRIVATE LIMITED [w.e.f. 29.12.2004] |
|
|
|
|
Formerly Known
As : |
PARVA FINANCIAL SERVICES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
G-1, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
16.10.2002 |
|
|
|
|
Com. Reg. No.: |
08-031116 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 16.506 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U65999KA2002PTC031116 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELA16910F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCA0191L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Copper and Aluminium Cables |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 120000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. There appears a huge external borrowing recorded by the company which
acts a threat to the liquidity. However, business is active. Payments terms are reported as 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 |
Letter of credit and bank guarantee [Non- Fund based] = A4 |
|
Rating Explanation |
Minimal degree of safety and very high credit risk |
|
Date |
23.01.2012 |
|
|
|
|
Rating Agency Name |
ICRA |
|
Rating |
Cash credit [Fund Based] = BB - |
|
Rating Explanation |
Moderate risk of default |
|
Date |
23.01.2012 |
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 DENIED BY
|
Name : |
Mr. Suresh Holla |
|
Designation : |
Vice - President |
|
Contact No.: |
91-80-23516733 |
|
Date : |
17.01.2013 |
LOCATIONS
|
Registered Office : |
G-1, |
|
Tel. No.: |
91-80-23516733 - 34 / 23516799 |
|
Fax No.: |
91-80-23516732 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
2000 sq. ft. |
|
Location : |
Rented |
|
|
|
|
Factory : |
Plot No. 10, 14 Survey No 95, KIADB Industrial Area, Doddaballapur, Gedanahalli, |
|
Tel. No.: |
91-80-27630498 |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Dinesh Kumar Jain |
|
Designation : |
Director |
|
Address : |
No. 764/28, Bharat Colony, |
|
Date of Birth/Age : |
07.08.1948 |
|
Qualification : |
BE |
|
Date of Appointment : |
01.03.2005 |
|
DIN No.: |
00066363 |
|
|
|
|
Name : |
Mr. Nikhlesh Jain |
|
Designation : |
Director |
|
Address : |
No. 764/28, Bharat Colony, |
|
Date of Birth/Age : |
04.06.1974 |
|
Qualification : |
B. Com. |
|
Date of Appointment : |
15.01.2008 |
|
DIN No.: |
01967174 |
|
|
|
|
Name : |
Mr. Manoj Chaturvedi |
|
Designation : |
Director |
|
Address : |
No. 6 Lottegolla Halli, RMV Extension, near Dollars Colony, |
|
Date of Birth/Age : |
20.08.1942 |
|
Qualification : |
BE |
|
Date of Appointment : |
05.03.2008 |
|
DIN No.: |
02081652 |
KEY EXECUTIVES
|
Name : |
Mr. Suresh Holla |
|
Designation : |
Vice - President |
MAJOR SHAREHOLDERS
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Dinesh Kumar Jain |
|
900000 |
|
Nikhlesh Jain |
|
750000 |
|
Suresh Kumar Jain |
|
300 |
|
Rani Jain |
|
100 |
|
Anushka Jain |
|
100 |
|
Soham Jain |
|
100 |
|
Total
|
|
1650600 |
As on 28.03.2012
|
List of Allottees |
|
No. of Shares Allotted |
|
|
|
|
|
Dinesh Kumar Jain |
|
599000 |
|
Nikhlesh Jain |
|
750000 |
|
Total |
|
1349000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Copper and Aluminium Cables |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
·
State Bank of India, Commercial Branch,
Rajajinagar Industrial Estate, Bangalore – 560044, Karnataka, India ·
HDFC Bank |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
---- |
|
|
|
|
Auditors : |
|
|
Name : |
AJS and Associates Chartered Accountants |
|
Address : |
313-314, Richmond Towers, 12, Richmond Road, Bangalore – 560025,
Karnataka, India |
|
Tel. No.: |
91-80-22219261 / 2 |
|
Fax No.: |
91-80-22217293 |
|
E-Mail : |
|
|
PAN No.: |
AAHSA3729M |
|
|
|
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs. 30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1650600 |
Equity Shares |
Rs.10/- each |
Rs. 16.506 Millions |
|
|
|
|
|
As on 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2999600 |
Equity Shares |
Rs.10/- each |
Rs. 29.996 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 |
16.506 |
14.004 |
10.004 |
|
|
2] Share Application Money |
5.000 |
2.500 |
2.500 |
|
|
3] Reserves & Surplus |
9.906 |
5.399 |
2.289 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
31.412 |
21.903 |
14.793 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
60.142 |
28.595 |
16.078 |
|
|
2] Unsecured Loans |
39.376 |
32.581 |
25.494 |
|
|
TOTAL BORROWING |
99.518 |
61.176 |
41.572 |
|
|
DEFERRED TAX LIABILITIES |
0.579 |
0.471 |
0.443 |
|
|
|
|
|
|
|
|
TOTAL |
131.509 |
83.550 |
56.808 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
47.210 |
42.674 |
30.666 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
34.606
|
20.851 |
12.310
|
|
|
Sundry Debtors |
62.147
|
44.995 |
14.529
|
|
|
Cash & Bank Balances |
0.255
|
0.021 |
0.122
|
|
|
Other Current Assets |
12.607
|
11.278 |
7.692
|
|
|
Loans & Advances |
33.940
|
13.463 |
11.376
|
|
Total
Current Assets |
143.555
|
90.608 |
46.029 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
58.961
|
49.554 |
19.982
|
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000
|
|
|
Provisions |
0.295
|
0.178 |
0.000
|
|
Total
Current Liabilities |
59.256
|
49.732 |
19.982
|
|
|
Net Current Assets |
84.299
|
40.876 |
26.047
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.095 |
|
|
|
|
|
|
|
|
TOTAL |
131.509 |
83.550 |
56.808 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
79.149 |
|
|
|
Other Income |
|
|
5.391 |
|
|
|
TOTAL |
349.804 |
244.736 |
84.540 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
79.218 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
337.213 |
235.537 |
79.218 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
12.563 |
9.199 |
5.322 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
5.982 |
4.716 |
3.133 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
6.531 |
4.483 |
2.189 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
2.074 |
1.373 |
0.954 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
4.507 |
3.110 |
1.235 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
0.175 |
0.093 |
NA |
|
|
TOTAL EARNINGS |
0.175 |
0.093 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
NA |
27.885 |
|
|
|
Capital Goods |
NA |
NA |
10.201 |
|
|
TOTAL IMPORTS |
NA |
NA |
38.086 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.73 |
2.22 |
1.23 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.29
|
1.27 |
1.46
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
2.77
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.42
|
3.36 |
2.85
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21
|
0.20 |
0.15
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.05
|
5.06 |
4.16
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.42
|
1.82 |
2.30
|
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 |
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U65999KA2002PTC031116 |
|
Name of the
company |
ADVANCE CABLE
TECHNOLOGIES PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
G-1, |
|
This form is for |
Modification of Charge |
|
Charge
identification (ID) number of the charge to be modified |
10128505 |
|
Type of charge |
Immovable Property |
|
Particular of
charge holder |
State Bank of India, Commercial Branch, Rajajinagar Industrial
Estate, Bangalore – 560044, Karnataka,
India |
|
Nature of
instrument creating charge |
Memorandum:
Confirming the Extension of Equitable Mortgage |
|
Date of
instrument Creating the charge |
03.11.2011 |
|
Amount secured by
the charge |
RS. 171.800
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest As may be
prescribed by the bank from time to time Terms of Repayment Working Capital -
Running account repayable on demand Other limits as per
existing/ sanctioned terms. Margin As per bank norms Extent and Operation of the charge The charge shall
operate to the extent of entire loan amount plus commission, expenses, cost,
liquidated damages and other charges thereon. Others The said amount
of Rs 171.800 Millions comprises of CC
(Hypo of stocks/receivables) of Rs
40.000 Millions (Stocks Rs.10.000 Millions and Receivables Rs.30.000
Millions); Term Loan I of Rs. 1.000 Millions; TL II of Rs.36 Millions; TL III
of Rs.4.500 Millions; Term Loan IV Rs. 7.500 Millions LC of Rs.90.000 Millions: BG of Rs.20.000
Millions; and Credit Exposure Limit of Rs.5.200 Millions |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Equitable mortgage
by way of first charge on immovable property of the company's land and
building (existing / to be constructed) situated at Plot No 14, S No 95,
Khata No 15, KIADB Industrial Area, Bashettyhalli
village, Kasaba hobli, Dooda ballapur, Bangalore Rural district. Measuring 2
acres. Bounded on: East by: Plot No.11-E and 11-F; West by Plot No.15; North
By: Plot No.10; South By: Road |
|
Date of
instrument modifying the charge |
02/11/2011 |
|
Particulars of
the present modification |
By the above ,the
charge on company's immovable property at Plot No 14, S No 95, Khata No 15,
KIADB Industrial Area, Bashettyhalli village, Kasaba hobli, Dooda ballapur, Bangalore Rural district.
shall cover the present modified limits aggregating Rs.171.800 Millions (All the other
terms and conditions remains unchanged) |
Note: Registered office of the company has been
shifted from 463E, 12th Main, 8th Cross, RMV Extension,
Bangalore – 560080, Karnataka, India to the G-1,
FINANCIAL RESULTS
For the financial
year the Company achieved a Net Profit of Rs.6.531 Millions on a Gross Turnover
of Rs.335.597 Millions ( previous year Net Profit Rs. 4.483 Millions and Gross
Turnover of Rs.238.217 Millions) after allowing Depreciation of Rs.5.982
Millions ( previous year Rs.4.715 Millions ) which shows an increase of 40.88 %
in Turnover and 45.68 % in Profit.
The year under
reference has seen the partial return of Economic situation mainly for Telecom
(Mobile) and Automotive segments. Government has put lot of emphasis on Steel
and Non renewable energy segments which should allow their company to participate
actively in these markets.
In line with
Company’s long term strategy, a further investment in plant and machinery along
with expansion in manufacturing space is going on. An effort for getting new
approvals and bringing new customers in our fold is ongoing process.
Fixed Assets
- Land and Building
- Plant and Machinery
- Lab Equipments
- Office Equipments
- Furniture and Fixtures
- Computers
- Electrical Fitting
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.53.87 |
|
|
1 |
Rs.85.53 |
|
Euro |
1 |
Rs.71.77 |
INFORMATION DETAILS
|
Report Prepared
by : |
SPN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
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.