MIRA INFORM REPORT
|
Report Date : |
01.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
JAYDEEP COTTON FIBRES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
C-805, The Imperial Heights, Opposite Big Bazar, 150 Feet Ring Road,
Rajkot – 360005, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
01.09.1997 |
|
|
|
|
Com. Reg. No.: |
04-032921 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 245.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17119GJ1997PTC032921 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACJ5374P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Cotton. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1700000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Even though there appears a significant increase in the sales
turnover, the net profitability has seen a drastic dip during 2012. Liquidity
position seems to be strong and healthy. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered normal for 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.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
C-805, The Imperial Heights, Opposite Big Bazar, 150 Feet Ring Road,
Rajkot – 360005, Gujarat, India |
|
Tel. No.: |
91-281-2580025 |
|
Fax No.: |
91-281-2580090 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
8-B, National Highway, Near 66, K V Sub Station, Shpar, Gujarat,
India |
|
Tel. No.: |
91-2827-252177 |
|
Fax No.: |
91-2827-253490 |
DIRECTORS
As on: 25.09.2012
|
Name : |
Mr. Arvindkumar Parsotambhai Patel |
|
Designation : |
Director |
|
Address : |
801, Megh Malhar Apartment, Shree Colony, Opposite Mahatma Gandhi
School, City – Rajkot - 360001, Gujarat, India |
|
Date of Birth/Age : |
26.09.1966 |
|
Qualification : |
HSC |
|
Date of Appointment : |
01.09.1997 |
|
PAN No.: |
AGWPP3458M |
|
DIN No.: |
00554370 |
|
|
|
|
Name : |
Mr. Alpeshbhai Vallabhbhai Patel |
|
Designation : |
Director |
|
Address : |
Flat No.702, Piramid Tower, Bansi Park, Amin Road, Rajkot – 360001,
Gujarat, India |
|
Date of Birth/Age : |
05.06.1976 |
|
Qualification : |
HSC |
|
Date of Appointment : |
01.09.2007 |
|
PAN No.: |
AFGPP9978M |
|
DIN No.: |
01356260 |
|
|
|
|
Name : |
Mr. Vallabhbhai Valjibhai Pan |
|
Designation : |
Director |
|
Address : |
Flat No.703, Piramid Tower, Bansi Park, Amin Road, Rajkot – 360001,
Gujarat, India |
|
Date of Appointment : |
17.10.1997 |
|
PAN No.: |
ACXPP9371N |
|
DIN No.: |
00554649 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 25.09.2012
|
Names of Shareholders |
|
No. of Shares (Equity) |
|
|
|
|
|
Mansukh Parsottambhai Patel (As Karta of Mansukh P. Patel HUF) |
|
2081620 |
|
Arvind Parsottambhai Patel (As Karta of Arvind P. Patel HUF) |
|
1550800 |
|
Parsottambhai Valjibhai Patel |
|
4200000 |
|
Sanjay Vallabhbhai Patel |
|
1800000 |
|
Alpeshbhai Vallabhbhai Patel |
|
2600000 |
|
Vallabhbhai Valjibhai Pan |
|
1600000 |
|
Mansukhbhai Parsottambhai Patel |
|
2318380 |
|
Arvindkumar Parsotambhai Patel |
|
3049200 |
|
Shobhanaben Mansukhbhai Patel |
|
800000 |
|
|
|
|
|
Total |
|
20000000 |
|
|
||
|
Names of Shareholders |
|
No. of Shares (Preference) |
|
|
|
|
|
Mansukh Parsottambhai Patel (As Karta of Mansukh P. Patel HUF) |
|
1000000 |
|
Arvind Parsottambhai Patel (As Karta of Arvind P. Patel HUF) |
|
800000 |
|
Sanjay Vallabhbhai Patel |
|
350000 |
|
Alpeshbhai Vallabhbhai Patel |
|
400000 |
|
Vallabhbhai Valjibhai Pan |
|
600000 |
|
Ilaben Arvindkumar Patel |
|
750000 |
|
Chirag Mansukhbhai Patel |
|
600000 |
|
|
|
|
|
Total |
|
4500000 |
Equity Share Break up (Percentage of Total Equity)
As on: 25.09.2012
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Cotton. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||
|
Bankers : |
·
State Bank of India, Commercial Branch, "Noble House", Near Jalaram Petrol Pump,
Kalawad Road, Rajkot – 360001, Gujarat, India
·
The Lakshmi Vilas Bank Limited, 1st
Floor, Ronak Complex, Gondal Road, Rajkot – 360002, Gujarat, India |
||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||
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Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
H. Jamnadas and Company Chartered Accountants |
|
Address : |
217-219, Heera Panna Complex, Dr. Yagik Road- Rajkot,
Gujarat, India |
|
PAN No.: |
AABFH2320P |
CAPITAL STRUCTURE
As on: 25.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 Millions |
|
4500000 |
Preference Shares |
Rs.10/- each |
Rs. 45.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.245.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 Millions |
|
4500000 |
Preference Shares |
Rs.10/- each |
Rs.45.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.245.000
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I. EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
245.000 |
200.000 |
|
(b) Reserves & Surplus |
|
191.107 |
132.908 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
436.107 |
332.908 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
16.981 |
76.686 |
|
(b) Deferred tax liabilities (Net) |
|
0.406 |
0.743 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
17.387 |
77.429 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
|
498.559 |
1119.493 |
|
(b) Trade payables |
|
162.260 |
236.282 |
|
(c) Other current
liabilities |
|
76.729 |
60.551 |
|
(d) Short-term
provisions |
|
58.082 |
133.067 |
|
Total Current
Liabilities (4) |
|
795.630 |
1549.393 |
|
|
|
|
|
|
TOTAL |
|
1249.124 |
1959.730 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
37.004 |
36.304 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
5.870 |
4.210 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
1.000 |
1.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
3.744 |
0.180 |
|
(e) Other
Non-current assets |
|
5.505 |
3.947 |
|
Total Non-Current
Assets |
|
53.123 |
45.641 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
586.940 |
1102.888 |
|
(c) Trade receivables |
|
476.087 |
639.169 |
|
(d) Cash and cash
equivalents |
|
49.818 |
63.981 |
|
(e) Short-term loans
and advances |
|
0.000 |
0.000 |
|
(f) Other current
assets |
|
83.156 |
108.051 |
|
Total Current Assets |
|
1196.001 |
1914.089 |
|
|
|
|
|
|
TOTAL |
|
1249.124 |
1959.730 |
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
90.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
36.251 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
126.251 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
508.276 |
|
|
2] Unsecured Loans |
|
|
75.554 |
|
|
TOTAL BORROWING |
|
|
583.830 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.731 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
710.812 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
33.637 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
462.303 |
|
|
Sundry Debtors |
|
|
298.688 |
|
|
Cash & Bank Balances |
|
|
15.537 |
|
|
Other Current Assets |
|
|
12.062 |
|
|
Loans & Advances |
|
|
16.216 |
|
Total
Current Assets |
|
|
804.806 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
106.313 |
|
|
Other Current Liabilities |
|
|
4.791 |
|
|
Provisions |
|
|
17.144 |
|
Total
Current Liabilities |
|
|
128.248 |
|
|
Net Current Assets |
|
|
676.558 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.615 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
710.810 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
9046.036 |
7011.614 |
3747.924 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
8821.117 |
6691.304 |
3645.767 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
224.919 |
320.310 |
102.157 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST |
129.791 |
58.788 |
49.662 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
95.128 |
261.522 |
52.495 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5.802 |
4.547 |
4.470 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
89.326 |
256.975 |
48.025 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
31.127 |
90.317 |
16.989 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
58.199 |
166.658 |
31.036 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
7449.891 |
5561.621 |
2642.372 |
|
|
TOTAL EARNINGS |
7449.891 |
5561.621 |
2642.372 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.91 |
8.33 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.64 |
2.38 |
0.82 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.20 |
13.15 |
5.72 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20 |
0.77 |
0.39 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.18 |
3.59 |
4.62 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.50 |
1.23 |
6.28 |
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 |
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 |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
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 |
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
UNSECURED LOAN
(Rs. In Millions)
|
Particulars |
As on 31.03.2012 |
As on 31.03.2011 |
|
Deposits from directors |
0.820 |
5.735 |
|
Deposits from shareholders |
9.964 |
11.399 |
|
Deposits from others |
0.000 |
50.015 |
|
Other loans and advance |
4.629 |
9.260 |
|
|
|
|
|
Total |
15.413 |
76.409 |
Note:
The Registered Office of the company has been shifted from 306/308, Ajanta Complex, Gondal Road, Rajkot – 360002, Gujarat, India to the present address w.e.f. 01.08.2012.
Bankers Charges
Report as per Registry
|
Corporate identity
number (CIN) or foreign company registration number of the company |
U17119GJ1997PTC032921 |
|
Name of the
company |
JAYDEEP COTTON FIBRES
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
306/308, Ajanta
Complex, Gondal Road, Rajkot – 360002, Gujarat, India Email-id - hjamnadas1.roc@gmail.com |
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
10140963 |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
State Bank of India, Commercial Branch, "Noble House", Near Jalaram Petrol Pump,
Kalawad Road, Rajkot – 360001, Gujarat, India Email-id - sbi.04085@sbi.co.in
|
|
Nature of
instrument creating charge |
Instrument
Modifying Charge: Memorandum
relating to deposit of Title Deeds for creation of further charge for term
loan overall limit where the initial charge is created by way of mortgage by
deposit of Title Deeds. |
|
Date of
instrument Creating the charge |
03.03.2012 |
|
Amount secured by
the charge |
Rs. 1686.600
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit:
3.25% above BR present effective rate 13.25% p.a. EPC/ FBP/ FBD:
1.50% above BR (as per SBI Exporters' Gold Card Scheme). PCFC/ EBR: As per
Bank's extant instruction. Terms of Repayment On demand Margin Raw-Material/
SIP/ FG : 25% Domestic
Receivables (90 days) : 50% Export
Receivables (90 days) : 10% Letter of
Credit :
25% Bank
Guarantee :
25% EPC/ PCFC
(Stock) : 10% EPC/ PCFC
(Contract) (FOB) : 10%
(CIF) : 15% Extent and Operation of the charge The charge over
mortgaged properties as extends to secure the repayment of entire revised
credit facilities of Rs.1686.600 Millions together with Interests, Costs,
Charges and Expenses thereon. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
i) Shapar Revenue
Survey No. 236, Plot No. 1 to 8 (Revenue Survey No. 236/p) and Part 1 and 2
(Revenue Survey No. 236 Paiki) Total Land admeasuring 14000.00 sq. Mtrs.
Shapar (Veraval). ii) R.S. No.
239/1p., Pl. No. 4 to13 and 22 to 24 adm.15710.2 Sq. yards -13135.46 Sq.
Mtrs, Ind. Premises on land adm. 15710.2 Sq.yard= 13135.46 Sq. Mtrs., Shapar
(Veraval), Tal. Kotda sangani Dist. Rajkot. |
|
Date of
instrument modifying the charge |
23.12.2010 |
|
Particulars of
the present modification |
By virtue of this
Modification, the charge over Company's property is extended to secure the
repayment of the enhanced/ revised the credit facilities aggregating to
Rs.1686.600 Millions. |
OPERATION AND PROSPECTS
During current year of operations, the company has achieved Revenue from Operation and Other Income of Rs. 9046.036 millions as against Rs.7011.614 millions during the previous year. The Company has earned profit of Rs. 224.919 millions before depreciation and Interest. The Company has earned Profit of Rs. 58.199 millions after providing for depreciation and interest.
This Phenomenal progress is the result of the Directors’ vision, perseverance and consistent efforts. The Company is resolute to keep this growth story unrelenting in the coming years. The prospects of the Company’s business are bright and positive.
WEBSITE
PROFILE
An ISO 9001:2000 (by TUV Rheinland Group) certified Company,
acclaimed for manufacturing best cotton in domestic as well as overseas arena
is Subject They are having World's best manufacturing infrastructure which has
completely automatised latest technology based plant in Cotton Industry to
produce contamination free cotton. They have grown extra-ordinarily well in
Cotton business over a period of 10 years. They believe in adding value to
cotton by maintaining highest standards of quality. Their strong presence in
the global supply chain in Cotton with a focus on Asia Pacific is an important
feature in the cap of their achievements.
Apart from Cotton Industry, theirs is the fastest growing business Group having
significant performance in various industries such as Cement, Steel
Infrastructural Projects, Construction, Decorative Laminates, Agricultural Equipment.
Their strength gives them courage to meet specific business challenges in the
global business directly.
In the Cotton Business, Subject has created very clear and visible image of
continually expanding its manufacturing and marketing capacities. They have
expanded their capacities to the extent of 500% and have increased turnover to
the extent of 3200% over a period of last one decade.
Their corporate headquarters is strategically located in the Western India,
which enables them to effectively and efficiently serve their customers in Asia
and beyond. They have rich experience and expertise in the field of cotton
business of a quarter century, which give them an edge over their competitors
to outperform them. Hence, partnering with Subject will give superb blend of
quality and service along with world of mutual benefits.
FIXED ASSETS:
· Land
· Building
· Plant and Machinery
· Furniture and Fixture
·
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. 59.70 |
|
|
1 |
Rs. 91.14 |
|
Euro |
1 |
Rs. 77.98 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
50 |
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.