MIRA INFORM REPORT
|
Report Date : |
29.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
STARFLEX SEALING INDIA PRIVATE LIMITED (w. e. f. 13.05.2003) |
|
|
|
|
Formerly Known
As : |
FLEXITALLIC INDIA PRIVATE LIMITED N. MOHANLAL (ENGINEERING) PRIVATE LIMITED |
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Registered
Office : |
124, Nagdevi Street, Mumbai - 400003, Maharashtra |
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|
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Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2012 |
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|
|
|
Date of
Incorporation : |
07.04.1984 |
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|
|
|
Com. Reg. No.: |
11-032609 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.20.750
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999MH1984PTC032609 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM19307B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACN1679B |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
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Line of Business
: |
Manufacture of Gaskets |
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|
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|
No. of Employees
: |
209 (Approximately) [In Office 9 + In Factory 200] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 190000 |
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|
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having satisfactory track record. The company has seen a dip in its net profitability during 2012. However,
overall position appears to be fine. Trade relations are fair. Business is active. Payment terms are
usually correct. The company can be considered 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 PARTED BY
|
Name : |
Mr. Suhash |
|
Designation : |
Accountant |
|
Contact No.: |
91-22-23890904 |
|
Date : |
27.07.2013 |
LOCATIONS
|
Registered Office : |
124, Nagdevi Street, Mumbai - 400003, Maharashtra, India |
|
Tel. No.: |
91-22-23890904 |
|
Mobile No.: |
91-9920189897 (Mr. Shail S Shah) |
|
Fax No.: |
Not Available |
|
E-Mail : |
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|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Head Office : |
15/B, Vinod Apartment, Krantiveer Vasant Rao Naik X Lane, Gowalia
Tank, Mumbai 400036, Maharashtra, India |
|
Tel. No.: |
91-22-23890904 / 05 |
|
Fax No.: |
91-22-23890907 |
|
|
|
|
Factory : |
Plot L 80/81, Verna Industrial Estate, Verna, Salceta 403722, Goa,
India |
|
Tel. No.: |
91-832-2783148 / 49 / 50 |
|
Fax No.: |
91-832-2783151 |
DIRECTORS
As on: 29.09.2012
|
Name : |
Mr. Shailesh Mohanlal Shah |
|
Designation : |
Director |
|
Address : |
23, Garden View, August Kranti Marg, Mumbai – 400036, Maharashtra,
India |
|
Date of Birth/Age : |
28.06.1949 |
|
Date of Appointment : |
07.04.1984 |
|
DIN No.: |
01085518 |
|
|
|
|
Name : |
Mr. Shail Shailesh Shah |
|
Designation : |
Director |
|
Address : |
23, Garden View, August Kranti Marg, Mumbai – 400036, Maharashtra,
India |
|
Date of Birth/Age : |
31.08.1975 |
|
Date of Appointment : |
01.12.2000 |
|
DIN No.: |
01005148 |
KEY EXECUTIVES
|
Name : |
Mr. Suhash |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS
As on: 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Shailesh Mohanlal Shah |
|
1850000 |
|
Nilesh Mohanlal Shah |
|
25000 |
|
Shahilesh M Shah Jointly With Nilesh M Shah |
|
140000 |
|
Flexitallic Investment Inc. , USA |
|
60000 |
|
Total |
|
2075000 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.09.2012
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
2.89 |
|
Directors or relatives of Directors |
97.11 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture of Gaskets |
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Products : |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
PRODUCTION STATUS
AS ON 31.03.2011
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Jointing
Sheets-Asbestos and Non Asbestos |
Kgs. |
42000000 |
1800 |
1472 |
|
Gland
Packings-Asbestos and Non Asbestos |
Kgs. |
1800000 |
250 |
-- |
|
Yarn Asbestos
and Non Asbestos |
Kgs. |
2400000 |
-- |
-- |
|
Woven fabric Asbestos
and Non Asbestos |
Kgs. |
1800000 |
-- |
-- |
|
Soft Cut Gaskets |
Pieces |
480000 |
-- |
457923 |
|
Heat Exchange Gaskets |
Pieces |
120000 |
-- |
-- |
|
Spiral Wound Gaskets |
Pieces |
480000 |
480000 |
596304 |
|
Ring Joints |
Pieces |
240000 |
-- |
-- |
|
Brake lining |
Ton |
12000 |
-- |
-- |
|
Teflon and Fluorseal Spools |
Pieces |
1200000 |
-- |
-- |
|
Sigma |
Ton |
1200 |
-- |
-- |
|
Steel Scrap |
Kg |
-- |
-- |
-- |
Note: Installed capacity is as certified by Management
and not verified by auditors, it being a technical matter.
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
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No. of Employees : |
209 (Approximately) [In Office 9 + In Factory 200] |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
|
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Banking
Relations : |
-- |
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|
|
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Financial Institution : |
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|
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Auditors : |
|
|
Name : |
Karnavat and Company Chartered Accountants |
|
Address : |
2A, Kitab Mahal, 192, Dr. D N Road, Mumbai - 400001, Maharashtra,
India |
|
PAN No.: |
AAAFK1143L |
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|
|
|
Enterprises owned
or significantly influenced by any management personnel or their Relatives
(relating to the transaction during the year) : |
|
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2075000 |
Equity Shares |
Rs.10/- each |
Rs.20.750
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 |
|
20.750 |
20.750 |
|
(b) Reserves & Surplus |
|
28.843 |
25.783 |
|
(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) |
|
49.593 |
46.533 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
1.420 |
5.784 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.166 |
0.582 |
|
Total Non-current
Liabilities (3) |
|
1.586 |
6.366 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
|
41.191 |
40.301 |
|
(b) Trade payables |
|
2.976 |
1.532 |
|
(c) Other current
liabilities |
|
26.368 |
15.192 |
|
(d) Short-term
provisions |
|
1.944 |
2.015 |
|
Total Current
Liabilities (4) |
|
72.479 |
59.040 |
|
|
|
|
|
|
TOTAL |
|
123.658 |
111.939 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
49.731 |
52.795 |
|
(ii) Intangible Assets |
|
9.076 |
9.076 |
|
(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) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.211 |
0.704 |
|
(e) Other
Non-current assets |
|
0.409 |
0.027 |
|
Total Non-Current
Assets |
|
59.427 |
62.602 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
28.642 |
17.421 |
|
(c) Trade receivables |
|
29.763 |
28.538 |
|
(d) Cash and cash
equivalents |
|
0.594 |
0.585 |
|
(e) Short-term loans
and advances |
|
5.047 |
2.612 |
|
(f) Other current
assets |
|
0.185 |
0.181 |
|
Total Current Assets |
|
64.231 |
49.337 |
|
|
|
|
|
|
TOTAL |
|
123.658 |
111.939 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
20.750 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
21.637 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
42.387 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
41.782 |
|
|
2] Unsecured Loans |
|
|
15.012 |
|
|
TOTAL BORROWING |
|
|
56.794 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
99.181 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
58.831 |
|
|
Capital work-in-progress |
|
|
9.075 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
17.780 |
|
|
Sundry Debtors |
|
|
23.389 |
|
|
Cash & Bank Balances |
|
|
1.485 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
2.531 |
|
Total
Current Assets |
|
|
45.185 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
7.015 |
|
|
Other Current Liabilities |
|
|
6.061 |
|
|
Provisions |
|
|
0.834 |
|
Total
Current Liabilities |
|
|
13.910 |
|
|
Net Current Assets |
|
|
31.275 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
99.181 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
80.000
(Approximately) |
67.614 |
47.304 |
|
|
|
Job Work Charges Received |
NA |
NA |
0.578 |
|
|
|
Other Income |
NA |
NA |
0.709 |
|
|
|
TOTAL (A) |
NA |
NA |
48.591 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials |
NA |
NA |
17.920 |
|
|
|
Manufacturing Expenses |
|
|
7.551 |
|
|
|
Employees Remuneration |
|
|
6.040 |
|
|
|
Increase/(Decrease) in Finished Goods |
|
|
(4.628) |
|
|
|
Excise Duty on Finished Good Stock Difference |
|
|
0.322 |
|
|
|
Administrative Expenses |
|
|
6.591 |
|
|
|
TOTAL (B) |
NA |
NA |
33.796 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
NA |
14.795 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
NA |
2.958 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
NA |
11.837 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
NA |
8.244 |
|
|
|
|
|
|
|
|
|
Less |
Amortization of Leasehold
Land |
NA |
NA |
0.046 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
3.860 |
5.205 |
3.547 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.800 |
1.060 |
0.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
3.060 |
4.145 |
2.947 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
7.532 |
3.387 |
0.440 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
10.592 |
7.532 |
3.387 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
0.462 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
0.462 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
4.225 |
1.768 |
0.000 |
|
|
TOTAL IMPORTS |
4.225 |
1.768 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
1.47 |
2.00 |
1.42 |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
95.000 |
|
|
|
|
|
Expected Sales (2013-14) : Rs.100.000 Millions
The above information has been parted by Mr. Suhash.
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
6.13 |
6.06 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
7.49 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.12
|
4.65 |
3.41 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.11 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.86
|
0.99 |
1.34 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.89
|
0.84 |
3.24 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT
MATURITIES OF LONG-TERM DEBT
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Current maturities of Long Term Borrowings |
5.675
|
5.550 |
NA |
|
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 |
Yes |
|
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 |
UNSECURED LOAN:
(Rs.
in Millions)
|
Particulars |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans and Advances
from Related parties |
|
|
|
From Relatives of Directors |
1.975 |
3.050 |
|
From Director |
1.990 |
1.803 |
|
From Firm in which Director of the Company is a Partner |
11.246 |
9.468 |
|
Total |
15.211 |
14.321 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10403080 |
07/02/2013 |
4,500,000.00 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
11-13 ATLANTA BUILDING, 209 VINAY K SHAH MARG NARIMAN POINT, MUMBAI, Maharashtra - 400021, INDIA |
B67959395 |
|
2 |
10314721 |
22/03/2013 * |
15,000,000.00 |
The Shamrao Vithal Co-operative Bank Limited |
A/2, 3, 4 and 5, Ganeshprasad, N. Bharucha Marg, Mumbai, Maharashtra - 400007, INDIA |
B71993802 |
|
3 |
10106070 |
02/02/2012 * |
10,000,000.00 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
NEW HORIZON 1ST FLOOR, ST MARY'S COLONY DAYANAND |
B31859150 |
* Date of charge modification
FIXED ASSETS:
- Leasehold Land
- Building
- Plant and Machinery
- Electrical Installations
- Office Equipments
- Vehicles
- Computers
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 : |
JML |
|
|
|
|
Report Prepared
by : |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.