MIRA
INFORM REPORT
|
Report Date : |
29.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
TYCO VALVES AND
CONTROLS INDIA PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
MULTI SARASIN
VALVES LIMITED |
|
|
|
|
Registered
Office : |
302/A, Ivory Terrace,
R.C. Dutt Road, Alkapuri, Vadodara-390005, Gujarat |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
18.06.1981 |
|
|
|
|
Com. Reg. No.: |
04-004441 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.189.986
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28999GJ1981PTC004441 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDT00697E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACK8809L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and
Exporter of Industrial Valves. |
|
|
|
|
No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (63) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 8000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having fine track record. Financial
position of the company appears to be sound. Trade relations are reported as
fair. Business is active. Payments are reported to be regular and as per
commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
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
|
Name : |
Mr. Sandip Kashekar |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-2676-300200 |
|
Date : |
29.01.2013 |
LOCATIONS
|
Registered Office : |
302/A, Ivory
Terrace, R.C. Dutt Road, Alkapuri, Vadodara - 390005, Gujarat, India |
|
Tel. No.: |
91-2676-300200 91-265-2359503 / 2331944 |
|
Fax No.: |
91-2676-220162 91-265-2336926 |
|
E-Mail : |
|
|
Website : |
|
|
Location: |
Owned |
|
|
|
|
Corporate Office : |
Survey No. 150,
Maghasar Halol – |
|
Tel. No.: |
91-2676-220461 / 220056 / 300200 |
|
|
|
|
Administrative Office : |
R 701, TTC
Industrial Area, Midcm Rabale, Navi Mumbai-400701, |
|
Tel. No.: |
91-22-27605765 / 27605767 |
|
Fax No.: |
91-22-27694638 |
|
|
|
|
Factory/ Marketing Office: |
No.23, C Mandira Apartments, No.3A, 3rd Floor, T Nagar,
Chennai-600017, |
|
Tel. No.: |
91-44-28155309 / 28150597 |
|
Fax No.: |
91-44-28155309 |
SOLE PROPRIETOR/PARTNERS/DIRECTORS
As on 17.09.2012
|
Name : |
Mr. Iqbal Singh
Malhotra |
|
Designation : |
Managing Director |
|
Address : |
4th
Floor, Plot No. 31, Vithal Nagar, JVPD Scheme of 10th Road, Vile
Parle (West), Mumbai, Maharashtra, India |
|
Date of Birth/Age : |
28.09.1949 |
|
Qualification : |
B. E. Mechanical |
|
Date of Appointment : |
10.04.2006 |
|
Pan No. : |
AGJPM8987F |
|
Din No.: |
02132718 |
|
|
|
|
Name : |
Pak Leung Steven Leung |
|
Designation : |
Director |
|
Address : |
Unit 801, No. 7, Lane 168, |
|
Date of Birth/Age : |
16.09.1956 |
|
Date of Appointment : |
18.12.2008 |
|
DIN No.: |
02510944 |
|
|
|
|
Name : |
Mr. Dilip Ranjan Sahoo |
|
Designation : |
Director |
|
Address : |
16th Floor, Flat No. 1603, Villa Royale, Hiranandani
Estate, Patalipada, Thane (West) Zone 4, Thane-400607, |
|
Date of Birth/Age : |
21.11.1968 |
|
Date of Appointment : |
21.07.2010 |
|
Din No.: |
03150361 |
KEY EXECUTIVES
|
Name : |
Mr. Sandip Kashekar |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 17.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Iqbal Singh
Malhotra |
|
1 |
|
Allied Electrical and Metal Products Pte. Limited [Previously Tyco |
|
18998638 |
|
Total |
|
18998639 |
As on 17.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and
Exporter of Industrial Valves. |
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Products : |
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Exports : |
|
||||||
|
Products : |
Valves |
||||||
|
Countries : |
·
Sri Lanka ·
Oman ·
Bangladesh |
||||||
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|
||||||
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Terms : |
|
||||||
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Selling : |
Cash / Credit |
||||||
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|
||||||
|
Purchasing : |
Cash / Credit |
PRODUCTION STATUS (AS ON 31.03.2011]
|
Particulars |
Unit |
Actual Production |
|
Machined Casting |
Nos. |
7672 |
|
Butterfly Valves |
Nos. |
28987 |
|
Lunkenheimer/
Angel Valves |
Nos. |
21040 |
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers and End Users |
|
|
|
|
No. of Employees : |
200 (Approximately) |
|
|
|
|
Bankers : |
· HDFC Bank, Baroda Branch, Gujarat, India · State Bank of India, G and I Division, Baroda Branch, Gujarat, India ·
Citi Bank, Alkapuri, Baroda, Gujarat, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
31, Nutan Bharat Society, Alkapuri, Vadodara - 390007, Gujarat, India |
|
Tel. No.: |
91-265-2333776 |
|
Fax No.: |
91-265-2339729 |
|
Pan No.: |
AADFD2337G |
|
|
|
|
Holding Company: |
Safety Systems UK Pte Limited [Formerly Tyco India (Singapore) Private Limited |
|
|
|
|
Associates : |
· Andersongreenwood · Anderson Greenwood Company - U K · Anderson Greenwood Company - Houstonusa · Andersongreenwood Instrumentation Product · Anderson Greenwood-Harlingen · Anderson Greenwood-Kunkle · Beijing Keystone Valve Company Limited · Biffi Italy S.R.L. · Dewrance · Erhard Gmbh and Company - Germany · Emirates Techno Casting - Fze Middle East · Fasani · Flow Control Technologies · Hindle Cockburns Limited · Industra-Comeriode Equip.Industrial S.A · Kd Valves S.A.S. · Keystone Valve (China),Shenzhen Plant · Keystone Valve (Uk) Limited · Keystone Pacific (Export) · Keystone Valves (Korea) Limited · Keystone Valves Inc. Usa · Kitamura Valve Mfg. Company Limited · Ktm Ball Valve Mfg. Company Limited -China · Ktm Ball Valve - Japan · Kunkle Usa · Key Stone Valves - UK · Key Stone Valves - Breda · Key Stone Valves - Taiwan · Key Stone Valves - Ukglasgow · Narvikyarway B.V · Neotecha - Switzerland · Neotecha - Ag · Penberthy · Raimondi · Raphael Valves Industries (1975) Limited · Safety Systems UK Limited (Whessoe) · Sakhi Raimondi Valves (India) Limited · Sapag · Sempell Aktiengesellschaft · Taiwan Valve Company Limited · Tvcwest - Denver · Tyco - Belgium A/C · Tyco Electronics Systems India Private Limited · Tyco Fire And Building Products - Ansul US · Tyco Fire And Building Products Asia Pte Limited · Tyco Fire And Security India Private Limited · Tyco Fire And Building Productsasiapte. Limited, Singapore · Tycofireproductscustomerservicecenter,Marinette, Wi, USA · Tyco Fire Products Ukmanufacturing Ltdyew St. Stockport, UK · Tyco Fire Suppression And Building Products, Great Yarmouth, Norfolk · Tyco Fire Products Lp, Lansdale · Tycoflexonic, Auckland · Tyco Flow Control, Nj · Tyco Flow Control Argentina HQ · Tyco Flow Control Argentina SA · Tyco Flow Control Beijing Company Limited · Tyco Flow Control Chile S.A · Tyco Flow Control Hong Kong Limited · Tyco Flow Control -Houston · Tyco Flow Control K.K - Japan · Tyco Flow Control Nfg - Nowra · Tyco Flow Control Pacific Pte. Limited Brisbane, Australia · Tyco Flow Control Pacific Pty Limited Australia · Tyco Flow Control Pacific Pty Limited · Tyco Flow Control Pte Limited - Singapore · Tyco Flow Control Pte Limited · Tyco Flow Control Pte Limited (Distribution Division) · Tyco Flow Control Pte Limited (Export A/C) · Tyco Flow Control, Auckland · Tyco International Inc · Tyco International Management Company · Tyco International Services Holding Gmbh · Tyco Shares Ltd · Tyco Thermal Controls Nv · Tyco Thermal Controls India Private Limited · Tyco Valves and Controls Griss · Tyco Valves and Controls B.V. · Tyco Valves and Controls Lp - Reno · Tyco Valves and Controls Brazil Limited · Tyco Valves and Controls Canada Inc · Tyco Valves and Controls Demexico,S.A De C.V · Tyco Valves and Controls Denmark A/S · Tyco Valves and Controls Distribution Gmbh · Tyco Valves and Controls Distribution Uk Limited · Tyco Valves and Controls -(France) S.C.A · Tyco Valves and Controls Inc. · Tyco Valves and Controls Italia S.R.I V · Tyco Valves and Controls Italia S.R.L. (Vanessa) · Tyco Valves and Controls Italia S.R.L. (Raimondi) · Tyco Valves and Controls L.P (Morin) · Tyco Valves and Controls Lp · Tyco Valves and Controls Lp (Kunkle Valve) · Tyco Valves and Controls Lp Harlingen · Tyco Valves and Controls Lp,Denvar · Tyco Valves and Controls Lp-Agco · Tyco Valves and Controls Middle East · Tyco Valves and Controls Taiwan Limited · Tyco Valves and Controls(Thailand) Limited · Tyco Valves and Controls, Gulfcoast - Grinnell, USA · Tyco Valves and Controls, Penberthy, USA · Tyco Valves and controls Morin Inc. · Tyco Valves and Controls (Sichuan) Company Limited · Tyco Valves and Controls (M) Sdn, Bhd-Malaysia · Tyco Valves and Controls Lp - Stafford · Tyco Valves and Controls Lp - Pasadena · Tyco Valves and Controls USA Limited · Tyco Water Valve ( Shanghai ) Company Limited · Tyco Water Valves Company Limited · Westlock Controls Limited U.S.A · Westlock Controls Limited U.K. |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
35000000 |
Equity Shares |
Rs.10/- each |
Rs.350.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18998639 |
Equity Shares |
Rs.10/- each |
Rs.189.986
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
189.986 |
189.986 |
189.986 |
|
|
2] Share Application Money |
0.000 |
3.441 |
3.441 |
|
|
3] Reserves & Surplus |
1831.038 |
1700.195 |
1599.507 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2021.024 |
1893.622 |
1792.934 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
513.236 |
80.280 |
98.098 |
|
|
TOTAL BORROWING |
513.236 |
80.280 |
98.098 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2534.260 |
1973.902 |
1891.032 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
149.655 |
148.850 |
104.714 |
|
|
Capital work-in-progress |
0.000 |
4.944 |
15.564 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
78.217 |
57.080 |
54.565 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
799.410
|
714.213 |
425.781 |
|
|
Sundry Debtors |
1479.942
|
718.008 |
624.493 |
|
|
Cash & Bank Balances |
1170.590
|
166.314 |
554.141 |
|
|
Other Current Assets |
5.186
|
0.682 |
0.000 |
|
|
Loans & Advances |
391.815
|
1409.209 |
972.478 |
|
Total
Current Assets |
3846.943
|
3008.426 |
2576.893 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1394.004
|
1058.566 |
591.845 |
|
|
Other Current Liabilities |
136.892
|
176.407 |
223.949 |
|
|
Provisions |
9.659
|
10.425 |
44.910 |
|
Total
Current Liabilities |
1540.555
|
1245.398 |
860.704 |
|
|
Net Current Assets |
2306.388
|
1763.028 |
1716.189 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2534.260 |
1973.902 |
1891.032 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
|
|
|
|
|
Income |
4460.321 |
2373.982 |
2376.469 |
|
|
|
Installation and Contract Revenue |
|
|
53.717 |
|
|
|
Other Income |
|
|
128.950 |
|
|
|
TOTAL (A) |
4460.321 |
2373.982 |
2559.136 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
|
|
|
1717.205 |
|
|
|
Personnel Expenses |
|
|
182.105 |
|
|
|
Administrative and Others Expenses |
|
|
269.075 |
|
|
|
Increase / Decrease in Finished Goods and Work in Progress |
|
|
(26.234) |
|
|
|
TOTAL (B) |
4266.867 |
2216.308 |
2142.151 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
Including
Financial and Depreciation Expenses |
Including
Financial and Depreciation Expenses |
416.985 |
|
|
|
|
|
|
|
|
|
|
FINANCIAL
EXPENSES (D) |
|
|
19.998 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
396.987 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION (F) |
|
|
27.325 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
196.895 |
157.673 |
369.662 |
|
|
|
|
|
|
|
|
|
|
TAX (H) |
66.054 |
56.984 |
132.936 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
130.841 |
100.689 |
236.726 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1676.864 |
1576.175 |
1339.449 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
1807.705 |
1676.864 |
1576.175 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
|
|
|
612.423 |
|
|
|
Commission Earnings |
806.628 |
763.702 |
13.190 |
|
|
|
Service Charges |
|
|
2.640 |
|
|
|
Miscellaneous Income |
|
|
0.994 |
|
|
TOTAL EARNINGS |
806.628 |
763.702 |
629.247 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
NA |
662.558 |
|
|
|
Stores & Spares |
NA |
NA |
0.150 |
|
|
|
Traded Goods |
NA |
NA |
288.825 |
|
|
|
Capital Goods |
NA |
NA |
0.302 |
|
|
TOTAL IMPORTS |
NA |
NA |
951.835 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.89 |
5.30 |
12.46 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.93
|
4.24 |
9.25 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
15.55 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.93
|
4.99 |
13.79 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
0.08 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.02
|
0.70 |
0.53 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.50
|
2.42 |
2.99 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
Rs.
In Millions
|
Particular |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Creditors due others |
1394.004
|
1058.566 |
591.845 |
|
Total |
1394.004
|
1058.566 |
591.845 |
|
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 |
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 |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
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 |
Yes |
|
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 |
CONTINGENT
LIABILITIES NOT PROVIDED FOR:
|
Particulars |
31.03.2012 |
31.03.2011 |
|
In respect of
disputed demands for Income Tax |
247.594 |
84.223 |
|
Tax liability pursuant
to non submission of concessional sales tax forms (excluding interest and
penalty) |
2.546 |
2.371 |
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Short-term
borrowings |
|
|
|
Loans repayable on demand from banks |
29.439 |
9.465 |
|
Loans repayable on demand from others |
483.797 |
70.815 |
|
Total |
513.236 |
80.280 |
FIXED ASSETS:
· Freehold Land
· Leasehold Improvements
· Buildings
· Plant and Machinery
· Patterns and Tools
· Furniture and Equipments
· Office Equipment
· Computers
· 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 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.53.89 |
|
|
1 |
Rs.84.93 |
|
Euro |
1 |
Rs.72.51 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
63 |
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.