|
Report Date : |
23.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
SHLOGAM AGRO PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Shlogam House,
House No.4, Kandivali Gokuldham CHS Limited, Behind Bhatia School, Off Bhat
Lane, Kandivali, Mumbai – 400067, Maharashtra |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as on)
: |
31.03.2012 |
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|
|
|
Date of
Incorporation : |
28.03.2008 |
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|
|
|
Com. Reg. No.: |
11-180556 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 8.455
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U01403MH2008PTC180556 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS59831C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AALGS7896J / AAAFG6109P |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Merchant Exporter of Agricultural Commodities. |
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|
|
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 171700 |
|
|
|
|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record.
There appears drastic fall in its sales and profitability during 2012. The
external borrowing seems to be huge. However, trade relations are reported to be fair. Business is active.
Payments are reported to be 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 – 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 : |
Shlogam House, House
No.4, Kandivali Gokuldham CHS Limited, Behind Bhatia School, Off Bhat Lane,
Kandivali, Mumbai – 400067, Maharashtra, India |
|
Tel. No.: |
91-22-28015051/ 52/ 53/ 54 |
|
Fax No.: |
91-22-28015050 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Rahul Ashokkumar Bakliwal |
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|
Designation : |
Director |
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|
Address : |
Room No. 4, Kandivali Gokuldham CHS Limited, Off. Bhat Lane, Kandivali
(West), Mumbai – 400067, Maharashtra, India
|
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Date of Appointment : |
28.03.2008 |
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PAN No.: |
AEVPB5655D |
|||||||||||||||||||||||||||
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DIN No.: |
01986333 |
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Other Directorship :
|
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|
|||||||||||||||||||||||||||
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Name : |
Mr. Nikhil Ashokkumar Bakliwal |
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|
Designation : |
Director |
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|
Address : |
Room No. 4, Kandivali Gokuldham CHS Limited, Off. Bhat Lane, Kandivali
(West), Mumbai – 400067, Maharashtra, India
|
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
13.11.1981 |
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Date of Appointment : |
28.03.2008 |
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PAN No.: |
AHZPB1044K |
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|
DIN No.: |
02087239 |
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|||||||||||||||||||||||||||
|
Name : |
Mr. Shailesh Amilal Desai |
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|
Designation : |
Director |
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|
Address : |
303/B, Kent Enclave, Haridas Nagar, Borivali (West), Mumbai – 400092,
Maharashtra, India |
|||||||||||||||||||||||||||
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Date of Birth/Age : |
27.05.1954 |
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Date of Appointment : |
04.05.2008 |
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PAN No.: |
ABSPD0650J |
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DIN No.: |
02136988 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Rahul Ashokkumar Bakliwal |
|
353603 |
|
Nikhil Ashokkumar Bakliwal |
|
230562 |
|
Rahul Ashokkumar Bakliwal [HUF] |
|
110000 |
|
Megha Bakliwal |
|
13700 |
|
Meeta Desai |
|
20000 |
|
Sailesh Desai |
|
70760 |
|
Kalaben Doshi |
|
21875 |
|
Nishita Desai |
|
25000 |
|
|
|
|
|
Total |
|
845500 |
AS ON 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Merchant Exporter of Agricultural Commodities. |
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Products/ Services : |
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Exports : |
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Products : |
Agricultural Commodities |
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Countries : |
·
Indonesia ·
Sri Lanka ·
Vietnam |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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|
||||||||||||||||||
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Bankers : |
Punjab National Bank, International Banking Branch, Birya
House, 265, Bazargate Road, Fort, Mumbai - 400001, Maharashtra, India |
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Facilities : |
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Banking Relations
: |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Ramesh Mali and Company Chartered Accountants |
|
Address : |
217-A, Shah and Nahar Industrial Estate, (A-1) Sun Mill
Road, A-1 Building, Lower Parel (West), Mumbai - 400013, Maharashtra, India |
|
Tel. No.: |
91-22-24988391/ 24924665 |
|
Mobile No.: |
91-9322235867/ 9930935867 |
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Fax No.: |
91-22-24925898 |
|
E-Mail : |
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|
Income-tax
PAN of auditor or auditor's firm : |
AALPM9581H |
|
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|
|
Enterprise over which significant influence exercised by Directors: |
Prabhuji Enterprises
Trans Asia Logistics
Shlogam International Pte. Limited |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
845,500 |
Equity Shares |
Rs. 10/- each |
Rs. 8.455
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 |
|
8.455 |
8.280 |
|
(b) Reserves & Surplus |
|
34.478 |
32.481 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.700 |
|
Total
Shareholders’ Funds (1) + (2) |
|
42.933 |
41.461 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
356.608 |
248.997 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long
term liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
356.608 |
248.997 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
0.000 |
0.000 |
|
(b)
Trade payables |
|
38.870 |
111.954 |
|
(c)
Other current liabilities |
|
9.454 |
9.990 |
|
(d) Short-term
provisions |
|
2.865 |
6.378 |
|
Total Current
Liabilities (4) |
|
51.189 |
128.322 |
|
|
|
|
|
|
TOTAL |
|
450.730 |
418.780 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
3.198 |
4.021 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.066 |
0.066 |
|
(d) Long-term Loan and Advances |
|
5.519 |
5.501 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
8.783 |
9.588 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
131.223 |
162.494 |
|
(c)
Trade receivables |
|
150.907 |
156.853 |
|
(d) Cash
and cash equivalents |
|
42.372 |
15.846 |
|
(e)
Short-term loans and advances |
|
117.405 |
73.926 |
|
(f) Other
current assets |
|
0.040 |
0.073 |
|
Total
Current Assets |
|
441.947 |
409.192 |
|
|
|
|
|
|
TOTAL |
|
450.730 |
418.780 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
6.864 |
|
|
2] Share Application Money |
|
|
3.400 |
|
|
3] Reserves & Surplus |
|
|
13.895 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
24.159 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
117.411 |
|
|
2] Unsecured Loans |
|
|
3.596 |
|
|
TOTAL BORROWING |
|
|
121.007 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
145.166 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
1.457 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
49.182 |
|
|
Sundry Debtors |
|
|
70.145 |
|
|
Cash & Bank Balances |
|
|
48.977 |
|
|
Other Current Assets |
|
|
6.624 |
|
|
Loans & Advances |
|
|
26.980 |
|
Total
Current Assets |
|
|
201.908 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
53.253 |
|
|
Other Current Liabilities |
|
|
3.641 |
|
|
Provisions |
|
|
1.410 |
|
Total
Current Liabilities |
|
|
58.304 |
|
|
Net Current Assets |
|
|
143.604 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.105 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
145.166 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
|
|
|
|
TOTAL SALES |
1656.719 |
1979.311 |
NA
|
|
|
|
|
|
|
|
|
|
Less |
TOTAL EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
2.563 |
25.589 |
12.354 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.091 |
8.985 |
4.385 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
1.472 |
16.604 |
7.969 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1656.719 |
1908.389 |
728.044 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.74 |
20.05 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.57
|
6.11 |
6.07 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.62 |
0.51 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
8.31
|
6.01 |
5.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
8.63
|
3.19 |
3.46 |
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 |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOANS
|
Unsecured Loans |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
LONG-TERM
BORROWINGS |
|
|
|
Term loans from others |
1.297 |
0.000 |
|
Loans and advances from directors |
1.564 |
3.004 |
|
Loans and advances from other |
8.840 |
1.440 |
|
Total |
11.701 |
4.444 |
Note:
The registered office of the company has been shifted from Shop No. 336,
1st Floor, Raghuleela Mega Mall, S.V. Road, Behind Poisar Bus Depo, Kandivali
(West), Mumbai - 400067, Maharashtra, India to the present w.e.f. 10.10.2010
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U01403MH2008PTC180556 |
|
Name of the
company |
SHLOGAM AGRO
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Shlogam House,
House No.4, Kandivali Gokuldham CHS Limited, Behind Bhatia School, Off Bhat
Lane, Kandivali, Mumbai – 400067, Maharashtra, India Email: shlogamagro@gmail.com |
|
This form is for |
Modification of charge |
|
Charge
identification number of the modified |
10114514 |
|
Type of charge |
Book debts Movable property (not being pledge) Others [Stock] |
|
Particular of
charge holder |
Punjab National Bank, International Banking Branch, Birya House, 265, Bazargate Road, Fort, Mumbai - 400001, Maharashtra, India Email: jpscs2007@gmail.com
|
|
Nature of
description of the instrument creating or modifying the charge |
Hypothecation OG
goods and book debts to secure cash credit facility for Rs.15.000 Millions Deed of
hypothecation to secure LC on DA basic for 40.000 Millions Post shipment
limit for Rs.216.000 Millions + Rs.43.500 Millions standby limits. Packing credit
agreement (hypothecation) Rs.220.500 Millions (All the above
documents constitute single charge of Rs.480.000 Millions) |
|
Date of
instrument Creating the charge |
17.01.2012 |
|
Amount secured by
the charge |
Rs. 480.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit-Base
Rate+4.25%=15% Packing Credit-
Base Rate+0.75%=11.5% Terms of Repayment Working capital limits
are subject to renewal at annually and may be repaid on demand. Margin Stock-25% , Book
Debts-40% Extent and Operation of the charge Rs. 480.000
Millions and operation of charge on entire hypothecated current assets
including book debts and stocks (present and future) |
|
Short particulars
of the property charged |
Entire
hypothecated current assets including book debts and stocks (present and
future) |
|
Date of
Modification |
19.10.2010 |
|
Particulars of
the present modification |
By this submission
of modification, the company has created charge on entire hypothecated
current assets including book debts and stocks (present and future) to secure
bank for enhanced credit facilities of Rs.480.000 Millions sanctioned to
company. (enhanced from Rs.200.000 Millions) |
FIXED ASSETS:
Plant and equipment
Other plant and equipment
Vehicles
Furniture and fixtures
Motor vehicles
Office equipment
Computer equipments
Other equipments
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. 59.41 |
|
|
1 |
Rs. 90.74 |
|
Euro |
1 |
Rs. 78.11 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
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.