|
Report Date : |
24.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
RELIANCE SECURITIES LIMITED |
|
|
|
|
Formerly Known
As : |
R TRADE SECURITIES LIMITED |
|
|
|
|
Registered
Office : |
11th Floor,
R-Tech IT Park, Western Express Highway, Goregaon [East], Mumbai – 400063,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
17.06.2005 |
|
|
|
|
Com. Reg. No.: |
11-154052 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 1500.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U65990MH2005PLC154052 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCR0260P |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing Stock Broking and Related Services. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (58) |
|
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 7349900 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established company having a fine track record. The liquidity of the company is sound and healthy. Directors are
reported to be well-experienced and knowledgeable businessmen. Trade relations are decent. Business is active. Payment terms are
regular and as per commitments. The company can be considered good 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Short term non fund based bank lines : A1+ |
|
Rating Explanation |
Very strong degree of safety and low credit
risk. |
|
Date |
February 8, 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 DECLINED
MANAGEMENT NON-COOPERATIVE [91-22-33201212]
LOCATIONS
|
Registered/ Corporate Office : |
11th Floor,
R-Tech IT Park, Western Express Highway, Goregaon [East], Mumbai – 400063,
Maharashtra, India |
|
Tel. No.: |
91-22-33201212 |
|
Fax No.: |
91-22-33201555 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 01.06.2012
|
Name : |
Soumen Ghosh |
|
Designation : |
Director |
|
Address : |
Flat No. 203, Marvel Exotica, Mira Nagar Road, Koregaon, Pune –
411001, Maharashtra, India |
|
Date of Birth/Age : |
08.06.1959 |
|
Qualification : |
"B. S c (Hons) Mechanical Engineering University of London (UK)
ACA, Institute of Chartered Accountants, England & Wales, Institute of
Chartered Accountants, Australia" |
|
Date of Appointment : |
27.06.2008 |
|
DIN No.: |
01262099 |
|
|
|
|
Name : |
Chandra Prakash Jain |
|
Designation : |
Director |
|
Address : |
396-C, Sheikh Sarai, Phase I, New Delhi – 110017, India |
|
Date of Birth/Age : |
03.03.1946 |
|
Date of Appointment : |
27.09.2010 |
|
DIN No.: |
00011964 |
|
|
|
|
Name : |
Mr. Vikrant Kishore Gugnani |
|
Designation : |
Whole-time director |
|
Address : |
1601/2, 16th Floor, Raheja Empress, Plot No. 392, V.S.
Marg, Prabhadevi, Mumbai – 400025, Maharashtra, India |
|
Date of Birth/Age : |
01.07.1970 |
|
Qualification : |
B.Com, Chartered Accountant |
|
Date of Appointment : |
26.11.2009 |
|
DIN No.: |
01814337 |
|
|
|
|
Name : |
Manu Chadha |
|
Designation : |
Director |
|
Address : |
C 35, Malca Marg, Chankyapuri, New Delhi – 110021, India |
|
Date of Birth/Age : |
28.08.1955 |
|
Qualification : |
B.Com, Chartered Accountant, Law Graduate |
|
Date of Appointment : |
08.09.2011 |
|
DIN No.: |
00068577 |
KEY EXECUTIVES
|
Name : |
Mr. Sanjay Tulsio Wadhwa |
|
Designation : |
Secretary |
|
Address : |
Plot H, Flat No. 802, 8th Floor, H Wing, Mhindra Gesco
Building, GE Garden, LBS Marg, Kanjur Marg, Mumbai – 400078, Maharashtra,
India |
|
Date of Birth/Age : |
10.10.1973 |
|
Date of Appointment : |
01.10.2009 |
|
PAN No.: |
AAFPW8459G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 01.06.2012
|
Names of Equity Shareholders |
|
No. of Shares |
|
Reliance Capital Limited, India |
|
24899930 |
|
Reliance Capital Limited jointly with V. R. Mohan |
|
10 |
|
Reliance Capital Limited jointly with Yogesh Deshpande |
|
10 |
|
Reliance Capital Limited jointly with Amit Bapna |
|
10 |
|
Reliance Capital Limited jointly with Neeraj Dwivedi |
|
10 |
|
Reliance Capital Limited jointly with Parul Jain |
|
10 |
|
Reliance Ada Group Trustees Private Limited as Trustees of Reliance
Securities Limited Employees Benefits Trust, India |
|
100000 |
|
Reliance Capital Limited jointly with Madan Chaturvedi |
|
10 |
|
Reliance Capital Limited jointly with Chetan Raval |
|
10 |
|
|
|
|
|
Total |
|
25000000 |
|
Names of Preference Shareholder |
|
No. of Shares |
|
Reliance Capital Limited, India |
|
125000000 |
|
|
|
|
|
Total |
|
125000000 |
AS ON 01.06.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Stock Broking and Related Services. |
||||
|
|
|
||||
|
Products/ Services : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|
|
|
|
Bankers : |
Not Divulged |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Chaturvedi and Shah Chartered Accountants |
|
Address : |
714-715, Tulsiani Chambers, 212, Free Press Journal Marg,
Nariman Point, Mumbai, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFC0662N |
|
|
|
|
Holding company : |
Reliance Capital Limited [L65910MH1986PLC165645] |
|
|
|
|
Ultimate Holding Company |
Reliance Innoventures Private Limited |
|
|
|
|
Fellow Subsidiary
company : |
Reliance Capital Trustee Company Limited [U65910MH1995PLC220528] Reliance Capital Asset Management Limited [U65910MH1995PLC220793] Reliance General Insurance Company Limited [U66603MH2000PLC128300] Reliance Money Express Limited [U74999MH2002PLC138032] Reliance Commodities Limited [U51100MH2005PLC154611] Reliance Financial Limited [U65990MH2005PLC155675] Reliance Wealth Management Limited [U65999MH2009PLC189285] Quant Commodities Private Limited [U67190TZ2009PTC016898] Reliance Investment Banking Services Limited [U65100MH2008PLC182588] |
|
|
|
|
Subsidiary company: |
Reliance Composite Insurance Broking
Limited [U65990MH1994PLC082324] w.e.f. October 18, 2011 Reliance Financial Limited Subsidiary up to
December 28, 2010 Reliance Commodities Limited Subsidiary up
to December 28, 2010 Reliance Investment Banking Services Limited
Subsidiary up to December 28, 2010 |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 500.000 Millions |
|
150,000,000 |
Preference Shares |
Rs. 10/- each |
Rs. 1500.000 Millions |
|
|
Total |
|
Rs. 2000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 250.000
Millions |
|
125,000,000 |
Preference Shares |
Rs. 10/- each |
Rs. 1250.000 Millions |
|
|
Total |
|
Rs. 1500.000
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 |
|
1500.000 |
1750.000 |
|
(b) Reserves & Surplus |
|
337.476 |
277.482 |
|
(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) |
|
1837.476 |
2027.482 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long
term liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
3.882 |
4.169 |
|
Total Non-current
Liabilities (3) |
|
3.882 |
4.169 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
0.000 |
0.000 |
|
(b)
Trade payables |
|
13.216 |
11.983 |
|
(c) Other
current liabilities |
|
1412.927 |
2067.921 |
|
(d) Short-term
provisions |
|
0.862 |
1.856 |
|
Total Current
Liabilities (4) |
|
1427.005 |
2081.760 |
|
|
|
|
|
|
TOTAL |
|
3268.363 |
4113.411 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
66.462 |
50.983 |
|
(ii)
Intangible Assets |
|
21.692 |
29.863 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
14.900 |
1.900 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
211.898 |
242.508 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
314.952 |
325.254 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
854.000 |
1159.980 |
|
(b)
Inventories |
|
0.000 |
0.000 |
|
(c)
Trade receivables |
|
367.638 |
454.098 |
|
(d) Cash
and cash equivalents |
|
899.839 |
1064.179 |
|
(e)
Short-term loans and advances |
|
828.219 |
1105.840 |
|
(f)
Other current assets |
|
3.715 |
4.060 |
|
Total
Current Assets |
|
2953.411 |
3788.157 |
|
|
|
|
|
|
TOTAL |
|
3268.363 |
4113.411 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
1750.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
206.461 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
1956.461 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
3920.638 |
|
|
TOTAL BORROWING |
|
|
3920.638 |
|
|
DEFERRED TAX LIABILITIES |
|
|
11.005 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
5888.104 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
43.504 |
|
|
Capital work-in-progress |
|
|
0.125 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
1171.900 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
446.041 |
|
|
Cash & Bank Balances |
|
|
2721.963 |
|
|
Other Current Assets |
|
|
8.793 |
|
|
Loans & Advances |
|
|
5475.902 |
|
Total
Current Assets |
|
|
8652.699 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
3827.655 |
|
|
Other Current Liabilities |
|
|
140.266 |
|
|
Provisions |
|
|
12.203 |
|
Total
Current Liabilities |
|
|
3980.124 |
|
|
Net Current Assets |
|
|
4672.575 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
5888.104 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
924.462 |
1136.523 |
1112.906 |
|
|
|
Other Income |
278.176 |
401.656 |
750.110 |
|
|
|
TOTAL (A) |
1202.638 |
1538.179 |
1863.016 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee benefit expense |
482.807 |
397.980 |
895.886 |
|
|
|
Other expenses |
617.418 |
936.422 |
475.235 |
|
|
|
TOTAL (B) |
1100.225 |
1334.402 |
1371.121 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
102.413 |
203.777 |
491.895 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
112.203 |
413.378 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
102.413 |
91.574 |
78.517 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
27.311 |
21.667 |
12.190 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
75.102 |
69.907 |
66.327 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
15.108 |
(1.114) |
44.522 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
59.994 |
71.021 |
21.805 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
277.482 |
206.461 |
184.656 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to Capital Redemption Reserve |
250.000 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
87.476 |
277.482 |
206.461 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
0.194 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.41 |
4.18 |
6.15 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
4.99
|
4.62 |
1.17 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.12
|
6.15 |
5.96 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.31
|
1.70 |
0.76 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
0.03 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.00 |
2.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.07
|
1.82 |
2.17 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT : NOT AVAILABLE
|
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) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
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 |
Yes |
CHARGES
|
ENTITY |
PERSON |
COMPETENT AUTHORITY |
REGULATORY
CHARGES |
REGULATORY
ACTION(S) / DATE OF ORDER |
FURTHER
DEVELOPMENTS |
|
RELIANCE SECURITIES |
|
EPFO |
Exempted and Unexempted establishments defaulted with EPFO
including Provident Fund, Pension and EDLI Contribution, Administration
Charges and Penal Damages of Rs.3.929 Millions |
Among other actions, names of defaulters put on the EPFO
website |
|
|
RELIANCE SECURITIES LIMITED |
|
SEBI |
Alleged violation of various SEBI circulars |
Reached Settlement (Settlement Charges Rs.2.500 Millions
Vide Consent Order) |
|
|
RELIANCE SECURITIES LIMITED |
|
SEBI |
Alleged violation of various SEBI circulars |
Reached Settlement (Settlement Charges Rs.2.500 Millions
Vide Consent Order) |
|
|
RELIANCE SECURITIES LIMITED |
|
SEBI |
Alleged violation of various SEBI circulars |
Reached settlement (settlement charges Rs.2.500 Millions
vide consent order) |
|
INDEX OF CHARGES -
No Charges Exist For Company
Note:
The registered office of the company has been shifted from 4th Floor,
Parijat House, Manjrekar Lane, Off Dr E. Moses Road, Worli Naka, Mumbai -
400018, Maharashtra, India to the present w.e.f.10.07.2010
BACKGROUND
Subject was incorporated on 17 June 2005. The Company is licensed by the Securities and Exchange Board of India (SEBI) to operate as stock broker.
OPERATIONS:
(a) Redemption of
Preference Shares
During the year, the Company has redeemed 2.5 crore - 10% Cumulative Redeemable Preference Shares of Rs. 10/- each aggregating to Rs. 250.000 Millions on November 28, 2011, in accordance with the terms of issue of the same, from out of profits otherwise available for dividend.
(b) Hiving-off of
Merchant Banking business
During the year, as approved by the members at the extraordinary general meeting held on January 18, 2011, the Merchant Banking business of the Company has been hived-off with effect from February 13, 2012.
(c) Credit Rating
During the year:-
(i) ICRA Limited has, at the Company’s request, withdrawn the extant credit rating of [ICRA] A1+ assigned to the Company for its Rs.5000.000 Millions - Short Term Debt Programme, vide their letter dated January 16, 2012.
(ii) ICRA Limited has assigned a short-term rating of [ICRA]
A1+ for Rs.2000.000 Millions Bank Lines of Credit (Basel II Ratings) of the
Company, vide their letter dated January 24, 2012.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2012 |
31.03.2011 |
|
|
(Rs. in Millions) |
|
|
i Guarantees given by scheduled banks |
|
|
|
On behalf of the Company towards collateral security
deposit in favour of Bombay Stock Exchange Limited |
|
|
|
- Cash Segment |
101.000 |
101.000 |
|
- Futures and Options segment |
5.000 |
5.000 |
|
On behalf of the Company towards collateral security
deposit in favour of National Stock Exchange Limited |
|
|
|
- Cash Segment |
200.000 |
200.000 |
|
- Futures and Options segment |
52.500 |
2.500 |
|
ii. Unpaid and undeclared dividend on 10% cumulative redeemable
preference shares (includes dividend distribution tax) |
689.855 |
644.550 |
|
iii. Capital commitments |
|
|
|
Estimated amount of contracts remaining to be executed on
capital account (net of advances) |
10.941 |
1.075 |
FIXED ASSETS:
Furniture and fixtures
Vehicles
Office equipment
Computer equipments
Other equipments
Leasehold improvements
Computer software
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. 59.69 |
|
|
1 |
Rs. 91.66 |
|
Euro |
1 |
Rs. 78.69 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
58 |
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.