MIRA
INFORM REPORT
|
Report Date : |
25.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
PEOPLE INTERACTIVE (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
Shiv-E-Numh, 2nd Floor, 205, Dr. Annie Besant Roa Worli,
Mumbai-400018, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
25.02.2000 |
|
|
|
|
Com. Reg. No.: |
11-124485 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 44.873 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72900MH2000PTC124485 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of operating online business and
owns and operates business such as Shaadi.com, Shaadi.com Centers,
Fropper.com, ShaadiTimes.com and Makaan.com |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (17) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. There appear huge accumulated losses recorded by the company during
2012 which resulted in erosion of its net worth. Liquidity position also
seems to be weak. However, business is active. Payment terms are slow. In view of established brand of the company named as “Shaadi.Com” and
strong promoters, the subject can be considered for business dealings on a
safe and secured 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.
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 : |
Ms. Tamanna Bharadhwaj |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-124-4694600 |
|
Date : |
24.07.2013 |
LOCATIONS
|
Registered Office : |
Shiv-E-Numh, 2nd Floor, 205, Dr. Annie Besant Roa Worli,
Mumbai-400018, Maharashtra, India |
|
Tel. No.: |
91-22-42007007 |
|
Fax No.: |
91-22-24955142 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
Unit No. 546, Udyog Vihar, Phase-5, Haryana, Gurgaon -122016, Haryana,
India |
|
Tel. No.: |
91-124-4694600 |
|
Fax No.: |
91-124-4694619 |
|
|
|
|
Branch Office 1 : |
2B(2)(ii) Ground Floor, Film Centre, Building 68, Tardeo Road, Tardeo,
Mumbai - 400 034, Maharashtra, India |
|
Tel. No.: |
91- 22-4351 7007 |
|
Fax No.: |
91- 22-2351 7692 |
|
|
|
|
Branch Office 2 : |
83/C , Hansraj Pragji Building, Off Dr. E. Moses Road, Above Durian Furniture
Showroom Worli, Mumbai – 400018, Maharashtra, India |
|
Tel. No.: |
91- 22-2481 2277 |
|
Fax No.: |
91- 22-2481 2300 |
DIRECTORS
AS ON 27.09.2012
|
Name : |
Mr. Sandeep Singhal |
|
Designation : |
Director |
|
Address : |
C-76, Diamond District, Airport Road, Bangalore-560017, Karnataka,
India |
|
Date of Birth/Age : |
31.12.1969 |
|
Date of Appointment : |
22.02.2006 |
|
DIN No.: |
00040491 |
|
|
|
|
Name : |
Mr. Anupam Mittal |
|
Designation : |
Managing Director |
|
Address : |
85, Sunita Apartments, Cuffe Parade, Mumbai-400005, Maharashtra,
India |
|
Date of Birth/Age : |
23.12.1970 |
|
Date of Appointment : |
02.12.2002 |
|
DIN No.: |
00233657 |
|
|
|
|
Name : |
Mr. Anand Murarilal Mittal |
|
Designation : |
Director |
|
Address : |
75, Stanam Apartments, Cuffe Parade, Mumbai-400005, Maharashtra,
India |
|
Date of Birth/Age : |
17.07.1971 |
|
Date of Appointment : |
25.02.2000 |
|
DIN No.: |
00375242 |
|
|
|
|
Name : |
Mr. Navin Murarilal Mittal |
|
Designation : |
Director |
|
Address : |
76, Stanam Apartments, Cuffe Parade, Mumbai-400005, Maharashtra,
India |
|
Date of Birth/Age : |
28.08.1972 |
|
Date of Appointment : |
02.12.2002 |
|
DIN No.: |
00375316 |
|
|
|
|
Name : |
Mr. Ashit Ranjit Lilani |
|
Designation : |
Director |
|
Address : |
Ranjit Lilani, 3786, Grove Avenue, Palo Alto, CA-94303, USA |
|
Date of Birth/Age : |
04.09.1966 |
|
Date of Appointment : |
08.06.2011 |
|
DIN No.: |
00766821 |
KEY EXECUTIVES
|
Name : |
Mr. Abhishek Vijay Mahorey |
|
Designation : |
Secretary |
|
Address : |
B-401, New Shweta Co-Operative Housing Society, Asha Nagar, Thakur
Complex, Kandivali (East), Mumbai-400101, Maharashtra, India |
|
Date of Birth/Age : |
19.10.1976 |
|
Date of Appointment : |
17.03.2010 |
|
PAN No.: |
AMCPM9402G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.09.2012
|
Names of Equity Shareholders |
No. of Shares |
|
Anand Murarilal Mittal |
6704545 |
|
Navin Murarilal Mittal |
6704545 |
|
Anupam Mittal |
13409092 |
|
Westbridge Venures II Investments Holdings, Mauritius |
2181818 |
|
People Interactive (India) Private Limited’s ESOP Trust, India |
1000000 |
|
TOTAL
|
30000000 |
|
Names of Preference Shareholders |
No. of Shares |
|
Westbridge Venures II Investments Holdings (Foremerly Sequoi Capital
India Investment Holdings II), Mauritius |
13192480 |
|
ICP Holdings I, Apex Fund Services (Mauritius) Limited, Mauritius |
172424 |
|
Apex Fund Services (Mauritius) Limited, Trustee of SVB India Capital
2006 Trust (Former Trustee Temple Corporate Services Limited), USA |
763000 |
|
Apex Fund Services (Mauritius) Limited, Trustee of SVB India Capital
2006 Trust, USA |
745091 |
|
TOTAL
|
14872995 |
AS ON 27.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Foreign holdings( Foreign institutional investor(s), Foreign
companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas
Corporate bodies or Others |
7.27 |
|
Directors or relatives of Directors |
89.40 |
|
Other top fifty shareholders |
3.33 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of operating online business and
owns and operates business such as Shaadi.com, Shaadi.com Centers,
Fropper.com, ShaadiTimes.com and Makaan.com |
|
|
|
|
Terms : |
|
|
Selling : |
Credit |
|
|
|
|
Purchasing : |
Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
No. of Employees : |
500 (Approximately) |
|||||||||||||||||||||
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|
|
|||||||||||||||||||||
|
Bankers : |
·
Citi Bank N.A., Citi Group Centre, Bandra Kurla
Complex, Bandra (East), Mumbai-400051, Maharashtra, India Tel No.: - 91-22-40015757 |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
SVB India Finance Private Limited, 84, Free Press House, 215, Nariman Point,
Mumbai-400021, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
S R Batliboi and Associates Chartered Accountant |
|
Address : |
24th Floor, The Ruby, 29, Senapati Bapat Marg, Dadar
(West), Mumbai-400028, Maharashtra, India |
|
Tel. No.: |
91-22-61920000 |
|
Fax No.: |
91-22-61921000 |
|
PAN No.: |
AABFS3421N |
|
|
|
|
Subsidiaries : |
·
Euro Interactive Limited ·
Indus Interactive Inc. |
|
|
|
|
Associates : |
·
Astrology India Private Limited |
|
|
|
|
Other Related Parties |
·
People Infocom Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
Rs.1/- each |
Rs. 30.000 Millions |
|
22500000 |
0.0001% Convertible Preference Shares |
Rs.1/- each |
Rs. 22.500 Millions |
|
|
TOTAL |
|
Rs. 52.500
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
Rs.1/- each |
Rs. 30.000
Millions |
|
4846749 |
0.0001% Series A Convertible Preference Shares |
Rs.1/- each |
Rs. 4.847 Millions |
|
2000 |
0.0001% Series A1 Convertible Preference Shares |
Rs.1/- each |
Rs. 0.002 Million |
|
4020000 |
0.0001% Series A2 Convertible Preference Shares |
Rs.1/- each |
Rs. 4.020 Millions |
|
6004246 |
0.0001% Series A3 Convertible Preference Shares |
Rs.1/- each |
Rs. 6.004 Millions |
|
|
TOTAL |
|
Rs. 44.873 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 |
|
44.873 |
38.869 |
|
(b) Reserves & Surplus |
|
(287.857) |
(309.554) |
|
(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) |
|
(242.984) |
(270.685) |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
46.667 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
0.606 |
0.798 |
|
(d) long-term provisions |
|
20.073 |
16.426 |
|
Total Non-current Liabilities (3) |
|
67.346 |
17.224 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
20.000 |
|
(b) Trade payables |
|
43.533 |
56.007 |
|
(c) Other current
liabilities |
|
308.446 |
315.009 |
|
(d) Short-term provisions |
|
2.161 |
1.609 |
|
Total Current Liabilities (4) |
|
354.140 |
392.625 |
|
|
|
|
|
|
TOTAL |
|
178.502 |
139.164 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
35.087 |
33.875 |
|
(ii) Intangible Assets |
|
1.340 |
1.931 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
1.134 |
1.134 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
2.533 |
4.491 |
|
(e) Other Non-current assets |
|
0.531 |
0.000 |
|
Total Non-Current Assets |
|
40.625 |
41.431 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
0.000 |
0.000 |
|
(c) Trade receivables |
|
18.699 |
13.793 |
|
(d) Cash and cash
equivalents |
|
55.173 |
32.636 |
|
(e) Short-term loans and advances |
|
64.005 |
51.304 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total Current Assets |
|
137.877 |
97.733 |
|
|
|
|
|
|
TOTAL |
|
178.502 |
139.164 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
38.869 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
365.969 |
|
|
4] (Accumulated Losses) |
|
|
(659.196) |
|
|
NETWORTH |
|
|
(254.358) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
120.624 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
120.624 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
Stock Options Outstanding |
|
|
40.013 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
(93.721) |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
46.417 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
1.134 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
14.688 |
|
|
Cash & Bank Balances |
|
|
17.318 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
72.460 |
|
Total
Current Assets |
|
|
104.466 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
59.155 |
|
|
Other Current Liabilities |
|
|
171.961 |
|
|
Provisions |
|
|
14.622 |
|
Total
Current Liabilities |
|
|
245.738 |
|
|
Net Current Assets |
|
|
(141.272) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
(93.721) |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
764.472 |
640.164 |
594.136 |
|
|
|
Other Income |
13.660 |
11.872 |
12.499 |
|
|
|
TOTAL (A) |
778.132 |
652.036 |
606.635 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
877.679 |
702.559 |
556.516 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
[Including Financial |
[Including Financial |
50.119 |
|
|
|
|
Expense ] |
Expense ] |
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
17.256 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(99.547) |
(50.523) |
32.863 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
14.960 |
18.976 |
18.247 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(114.507) |
(69.499) |
14.616 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(114.507) |
(69.499) |
14.616 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
365.021 |
319.622 |
328.712 |
|
|
TOTAL EARNINGS |
365.021 |
319.622 |
328.712 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(3.82) |
(2.32) |
0.49 |
|
%20PRIVATE%20LIMITED%20-%20230140%2025-Jul-2013_files/image001.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20230140%2025-Jul-2013_files/image002.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20230140%2025-Jul-2013_files/image003.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(14.72)
|
(10.66) |
2.41 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(14.98)
|
(10.86) |
2.46 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(64.56)
|
(50.35) |
9.69 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.47
|
0.26 |
(0.06) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
(0.19)
|
(0.07) |
(0.47) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.39
|
0.25 |
0.43 |
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 |
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 |
(Rs.
In Millions)
|
Unsecured Loan |
31.03.2012 |
31.03.2011 |
|
Short Term
Borrowings |
|
|
|
Interest from loan from related party repayable on demand |
0.000 |
20.000 |
|
|
|
|
|
TOTAL |
0.000 |
20.000 |
CURRENT MATURITIES
OF LONG TERM DEBT
(Rs.
In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Current maturities of long term borrowings |
40.000 |
119.772 |
NA |
|
|
|
|
|
|
TOTAL |
40.000 |
119.772 |
NA |
VIEW
INDEX OF CHARGES
|
S.
No. |
Charge
ID |
Date
of Charge Creation/Modification |
Charge
amount secured |
Charge
Holder |
Address
|
Service
Request Number (SRN) |
|
1 |
10286588
|
25/04/2011
|
120,000,000.00
|
SVB INDIA
FINANCE PRIVATE LIMITED |
84, Free Press House, 215,
Nariman Point, Mumbai, Maharashtra - 400021, India |
B12715769
|
|
2 |
90354251
|
10/11/2005
|
15,000,000.00
|
ICICI
BANK LTD. |
215; Free Parss Hose Marg,
Nariman Point, Mumbai, |
- |
CORPORATE
INFORMATION
Subject is engaged in the business of operating online business and owns
and operates business such as Shaadi.com, Shaadi.com Centers, Fropper.com,
ShaadiTimes.com and Makaan.com
FIXED ASSETS
·
Computer
·
Furniture and Fixture
·
Air Conditioner
·
Office Equipment
·
Electric Installation
·
Motor Car
·
Lease Hold Improvement
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. 59.44 |
|
|
1 |
Rs. 91.24 |
|
Euro |
1 |
Rs. 78.43 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
Report Prepared
by : |
DPT |
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 |
2 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
17 |
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.