MIRA INFORM REPORT
|
Report Date : |
29.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
BHAVIK ENTERPRISES LIMITED |
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Registered Office : |
49, Jayakar Smruti, Off Aarey Road, Goregaon (West), Mumbai – 400 062,
Maharashtra |
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Country : |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
15.09.2008 |
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Com. Reg. No.: |
11-186771 |
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Capital
Investment / Paid-up Capital : |
Rs.52.860 Millions |
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CIN No.: [Company
Identification No.] |
U51900MH2008PLC186771 |
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IEC No.: |
0398020868 |
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|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMB19059F |
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PAN No.: [Permanent
Account No.] |
AADCB5606P |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Trader and Distributor of Plastic Granules. |
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No. of Employees
: |
Information declined by the Management. |
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 676000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Emmen Plastics, a proprietary concern started in 1975 and Bhavik Enterprises
a partnership concern started in 1982 merged and formed Bhavik Enterprises
Limited. It is an established company having a satisfactory track record. The
financial position of the company is sound and healthy. Trade relations are
reported as decent. Business is active. Payments are reported to be regular
and as per commitments. 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.
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 BY
|
Name : |
Mr. Mukesh Natwerlal Thakkar |
|
Designation : |
Director |
|
Contact No.: |
91-9820076376 |
|
Date : |
26.07.2013 |
LOCATIONS
|
Registered Office : |
49, Jayakar Smruti, Off Aarey Road, Goregaon (West), Mumbai – 400 062,
Maharashtra, India |
|
Tel. No.: |
91-22-28722005 / 28727897 / 28710711 / 2 /
3 / 28757449 |
|
Mobile No.: |
91-9820076376 (Mr. Mukesh Thakkar) |
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Fax No.: |
91-22-28757449 |
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E-Mail : |
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|
Website : |
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|
Area : |
500 sq. ft |
|
Location : |
Owned |
|
|
|
|
Godown 1 : |
G-18, Chirag Industrial Complex, 39/40, Golden Industrial Area,
Somnath Road, Dabhel Village, Daman – 386 210, Gujarat, India |
|
Tel No.: |
91-260-2242687 |
|
Area: |
4000 sq. ft. |
|
Location : |
Owned |
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|
|
|
Godown 2 : |
Gala No.1, Building No.9, Agarwal Udyog Nagar, Vasai (East), Thane – 401
205,
Maharashtra, India |
|
Tel No. |
95-250-2452787 |
|
Area |
7000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Godown 3 : |
14/17, Saraf Udyog Bhavan, Near Chincholi Phataka, Malad (West),
Mumbai – 400 064, Maharashtra, India |
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|
|
|
Depots : |
Located at: ·
Maharashtra ·
Gujarat ·
Daman ·
Silvassa |
DIRECTORS
AS ON 28.09.2012
|
Name : |
Mr. Mukesh Natwerlal Thakkar |
|
Designation : |
Director |
|
Address : |
703/A, Marble Arch, 51 TPS Road, Borivali (West), Mumbai – 400 092,
Maharashtra, India |
|
Date of Birth/Age : |
22.07.1955 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
15.09.2008 |
|
DIN No.: |
01867515 |
|
PAN No.: |
AAAPT6736C |
|
|
|
|
Name : |
Mr. Bhavik Mukesh Thakkar |
|
Designation : |
Director |
|
Address : |
703/A, Marble Arch, 51 TPS Road, Borivali (West), Mumbai – 400 092,
Maharashtra, India |
|
Date of Birth/Age : |
11.06.1979 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
15.09.2008 |
|
DIN No.: |
01867522 |
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PAN No.: |
AAXPT3875F |
|
|
|
|
Name : |
Mrs. Purnima Mukesh Thakkar |
|
Designation : |
Director |
|
Address : |
703/A, Marble Arch, 51 TPS Road, Borivali (West), Mumbai – 400 092,
Maharashtra, India |
|
Date of Birth/Age : |
26.12.1956 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
15.09.2008 |
|
DIN No.: |
02262042 |
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PAN No.: |
ACAPT7921R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2012
|
Names of Shareholders |
No. of Shares |
|
Mukesh Natwerlal Thakkar |
1208000 |
|
Bhavik Mukesh Thakkar |
825500 |
|
Purnima Thakkar |
3028000 |
|
Umesh Thakkar |
224500 |
|
Dhwani Tanna |
1 |
|
Vidhi Thakkar |
1 |
|
Neha Thakkar |
1 |
|
Total
|
5286003 |
AS ON 28.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Distributor of Plastic Granules. |
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Products : |
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Consignment
Stockist and Authorized Agent : |
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GENERAL INFORMATION
|
No. of Employees : |
Information declined by the Management. |
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Bankers : |
Dena Bank, Mount Poinsur Branch, Anand Bhuvan, Sardar V.P. Road, Borivali (West), Mumbai – 400 103, Maharashtra,
India |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Suresh Shah and Company Chartered Accountants |
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Address : |
S-15, Sej Plaza, Near Nutan School, Marve Road, Malad (West), Mumbai –
400 064, Maharashtra, India |
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Tel. No.: |
91-22-23451147/ 23421839 |
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Fax No.: |
91-22-23451147 |
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E-Mail : |
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PAN No.: |
AIOPS2773C |
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Associate : |
Griffons Securities Private Limited, India |
CAPITAL STRUCTURE
AFTER 28.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7500000 |
Equity Shares |
Rs.10/- each |
Rs.75.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7500000 |
Equity Shares |
Rs.10/- each |
Rs.75.000 Millions |
|
|
|
|
|
AS ON 28.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7500000 |
Equity Shares |
Rs.10/- each |
Rs.75.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5286003 |
Equity Shares |
Rs.10/- each |
Rs.52.860 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 |
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|
|
|
(a) Share Capital |
|
52.860 |
52.860 |
|
(b) Reserves & Surplus |
|
116.042 |
88.338 |
|
(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) |
|
168.902 |
141.198 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.185 |
0.000 |
|
(c)
Other long term liabilities |
|
0.000 |
0.000 |
|
(d)
Long-term provisions |
|
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
|
0.185 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
0.000 |
0.000 |
|
(b)
Trade payables |
|
295.780 |
223.246 |
|
(c)
Other current liabilities |
|
0.007 |
0.000 |
|
(d)
Short-term provisions |
|
22.500 |
49.000 |
|
Total
Current Liabilities (4) |
|
318.287 |
272.246 |
|
|
|
|
|
|
TOTAL |
|
487.374 |
413.444 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
21.092 |
2.941 |
|
(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 |
|
0.282 |
0.282 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.025 |
|
(d) Long-term Loan
and Advances |
|
55.085 |
56.793 |
|
(e)
Other Non-current assets |
|
0.116 |
0.208 |
|
Total
Non-Current Assets |
|
76.575 |
60.249 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
55.748 |
111.153 |
|
(c)
Trade receivables |
|
216.134 |
129.960 |
|
(d)
Cash and cash equivalents |
|
138.917 |
112.082 |
|
(e)
Short-term loans and advances |
|
0.000 |
0.000 |
|
(f)
Other current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
410.799 |
353.195 |
|
|
|
|
|
|
TOTAL |
|
487.374 |
413.444 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
52.860 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
71.556 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
124.416 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
124.416 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.969 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.007 |
|
|
DEFERRED TAX ASSETS |
|
|
0.026 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
26.089 |
|
|
Sundry Debtors |
|
|
52.520 |
|
|
Cash & Bank Balances |
|
|
187.827 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
11.768 |
|
Total
Current Assets |
|
|
278.204 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
107.810 |
|
|
Other Current Liabilities |
|
|
0.669 |
|
|
Provisions |
|
|
46.610 |
|
Total
Current Liabilities |
|
|
155.089 |
|
|
Net Current Assets |
|
|
123.115 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.299 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
124.416 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
1996.972 |
1251.310 |
1114.878 |
|
|
|
Other Income |
4.931 |
29.884 |
34.280 |
|
|
|
TOTAL (A) |
2001.903 |
1281.194 |
1149.158 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of
stock-in-trade |
1798.135 |
1262.489 |
|
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
55.405 |
(85.063) |
|
|
|
|
Employee benefit
expense |
2.296 |
1.997 |
|
|
|
|
Other expenses |
101.426 |
74.150 |
|
|
|
|
TOTAL (B) |
1957.262 |
1253.573 |
1037.178 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
44.641 |
27.621 |
111.980 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.123 |
0.281 |
2.207 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
43.518 |
27.340 |
109.773 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.719 |
0.359 |
0.273 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
41.799 |
26.981 |
109.500 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
14.095 |
10.199 |
49.603 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
27.704 |
16.782 |
59.897 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
88.338 |
71.556 |
11.659 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
116.042 |
88.338 |
71.556 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Discount received |
5.021 |
2.024 |
NA |
|
|
|
Special Quantity Discount |
1.796 |
0.000 |
NA |
|
|
TOTAL EARNINGS |
6.817 |
2.024 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.24 |
3.17 |
11.33 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.38 |
1.31
|
5.21 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.09 |
2.16
|
9.82 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.58 |
6.53
|
39.22 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25 |
0.19
|
0.88 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00
|
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.29 |
1.30
|
1.79 |
LOCAL AGENCY FURTHER INFORMATION
Details of
Long-Term Current Maturities Debts: Not Available
|
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 |
Yes |
|
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 |
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 |
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 |
IMPORTANT NOTE:
The Company had taken
over two business undertakings, namely, a proprietary concern, namely, Emmen
Plastics and a partnership firm, namely, Bhavik Enterprises (hereinafter
collectively referred to as the said concerns), as going concerns with their
business assets and liabilities as on 31st December, 2008. Tax
liability aggregating Rs.0.654 million of the said concerns has been paid by
the Company during the year under reference and as such the said tax payments
have been charged to the profit and loss account.
OPERATIONS
The Company during
the year has sales of Rs.1996.972 millions (previous year Rs.1251.310 millions). The Company has earned profit of
Rs.28.089 millions (previous year
Rs.17.980 millions).
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U51900MH2008PLC186771 |
|
Name of the
company |
BHAVIK ENTERPRISES LIMITED |
|
Address of the
registered office or of the principal place of business in |
49, Jayakar Smruti, Off Aarey Road, Goregaon (West), Mumbai – 400 062,
Maharashtra, India E-Mail: info@bhavikenterprises.com |
|
This form is for |
Modification of
charge |
|
Charge identification
number of the modified |
10193352 |
|
Type of charge |
Book Debts Movable Property
(not being pledge) Others (Stock of
plastic granules etc.) |
|
Particular of
charge holder |
Dena Bank, Mount Poinsur Branch, Anand Bhuvan, Sardar V.P. Road, Borivali (West), Mumbai – 400 103,
Maharashtra, India E-Mail: mountp@denabank.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum of second
modification of hypothecation agreement. |
|
Date of
instrument Creating the charge |
12.12.2012 |
|
Amount secured by
the charge |
Rs.135.000
millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest: On CCH: Base Rate
(BR) + 6.80% i.e. 17.25% p.a. and on Discounting of DA Bills under LC
(Inland): BR+0.25% subject to approval of ED or at such other rate as may be
fixed by the bank from time to time Terms of
Repayment: Cash credit: (CCH):
On Demand Margin: Margin to be
maintained for cash credit at 25% on stocks, 40% on book debts (upto 90
days), for discounting of DA bills at 10%, for LC (DA) at 20% for LC (DP) at
10%, for bank guarantee at 10% on performance and 25% on financial or at such
other rate as may be required by the bank from time to time. Extent and
Operation of the charge: Security created
by way of first charge and to cover the principal amount together with
interest, commission, costs, charges and expenses. Others: 1/ Security
created in respect of the following credit facilities: - CC: Rs.10.000
millions - LC (I/F)
(DA/DP): Rs.50.000 millions* Discounting of DA Bills under LC (Inland):
Rs.10.000 millions - Bank Guarantee:
Rs.75.000 millions *(with
interchangeability from LC to BG only) 2/
Commission on Discounting of DA bills,
LC and BG: As per approval of HO. |
|
Short particulars
of the property charged |
All stocks of raw
materials, stock in process, semi finished and finished goods such as plastic
granules etc., consumable stores and spares, packing materials etc.,
purchased / imported under the letters of credit facility, both present and
future, now being or hereafter brought into or upon or now or hereafter in
course of transit by road, rail, ship or air to any godown, Jathas or other
place of storage at Daman, Silvassa, Vasai or other place/s whatsoever and
wheresoever in the possession or occupation of the company. All the tangible
movable properties and assets of whatsoever nature comprising plant,
machinery, tools and accessories, stores, spares relating to the plant and
machinery, furniture, articles, office equipments, computers and things etc.
purchased / imported under the Letter of Credit facility and lying and being
at the premises / factories of the company at Mumbai either by way of
substitution or in addition or other place whatsoever and wheresoever in the
possession or occupation of the company. All present and
future book debts, outstandings, moneys, receivables, claims, bills, rights,
to or in movable properties and movable assets and which are now due, owing
or payable or belonging to the company or which may at any time hereafter
become due, owing, payable or belonging to the company in the course of its
business by any person, firm, company or body corporate or by the Government
Central or State or Indian Railways, any Government Department or office or
any Municipal or local or public or semi Government body or authority or
anybody corporate or undertaking or project whatever in the public sector |
|
Date of latest
modification prior to the present modification |
10.06.2011 |
|
Particulars of
the present modification |
Charge over
movable properties now stands enhanced from Rs.100.000 millions to Rs.135.000
millions. |
FIXED ASSETS
·
Godown
·
Air Conditioner
·
Computers
·
Furniture and Fixtures
·
Motor Car
·
Tempo
·
Office Equipments
·
Mobile Phones
·
Television
·
Air Cooler
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.58.91 |
|
|
1 |
Rs.90.68 |
|
Euro |
1 |
Rs.78.22 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
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 |
|
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.