MIRA
INFORM REPORT
|
Report Date : |
05.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
OMKAR VALVES PRIVATE LIMITED |
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Registered
Office : |
43/1/B, Jogeshwari Nagar, Gujarwadi, Katraj, Pune-411046, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
08.01.1997 |
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Com. Reg. No.: |
11-104955 |
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Capital Investment
/ Paid-up Capital : |
Rs. 0.103 Million |
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CIN No.: [Company Identification
No.] |
U29120MH1997PTC104955 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of various types of butterfly valves |
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No. of Employees
: |
25 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 14000 |
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Status : |
Small Company |
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Payment Behaviour : |
Slow But Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a small company in its field. It’s scale of activities are
limited. Trade relations are reported to be fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for normal business dealings with some
caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Rakesh Pathe |
|
Designation : |
Managing Director |
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Contact No.: |
91-9890025230 |
|
Date : |
28.05.2013 |
LOCATIONS
|
Registered Office : |
43/1/B, Jogeshwari Nagar, Gujarwadi, Katraj, Pune-411046, Maharashtra,
India |
|
Tel. No.: |
Not Available |
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Mobile No.: |
91-9890025230 (Mr. Rakesh Pathe) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Area : |
12000 Sq. Ft. |
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Location : |
Owned |
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Factory : |
S. No,14/2A/1, Near Ashvi Trading Company Mangdewadi, Taluka-Haveli,
Pune-411046, Maharashtra, India |
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Tel. No.: |
91-20-26959272 |
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Fax No.: |
Not Available |
DIRECTORS
AS ON 24.09.2012
|
Name : |
Mr. Pandurang Vitthal Phate |
|
Designation : |
Director |
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Address : |
House No.178, Katrai, Pune-411046, Maharashtra, India |
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Date of Birth/Age : |
19.04.1970 |
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Date of Appointment : |
08.01.1997 |
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DIN No.: |
02020665 |
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Name : |
Mr. Suvarna Pandurang Phate |
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Designation : |
Director |
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Address : |
House No.178, Katrai, Pune-411046, Maharashtra, India |
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Date of Birth/Age : |
10.03.1974 |
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Date of Appointment : |
16.12.2004 |
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DIN No.: |
02020682 |
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Name : |
Mr. Rakesh Pathe |
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Designation : |
Managing Director |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 24.09.2012
|
Names of Shareholders |
No. of Shares |
|
Pandurang Vitthal Phate |
430 |
|
Sunil Vitthal Phate |
300 |
|
Ajay Vitthal Phate |
300 |
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TOTAL
|
1030 |
AS ON 24.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
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TOTAL |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of various types of butterfly valves |
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Terms : |
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Selling : |
Cash, Credit |
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Purchasing : |
Cash, Credit |
GENERAL INFORMATION
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No. of Employees : |
25 (Approximately) |
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Bankers : |
·
The Cosmos Co-Operative Bank Limited, Dhanakawadi
Branch, 269/270, Shaniwar Peth, Pune-411030, Maharashtra, India ·
Bank of Maharashtra, Pune, Maharashtra, India Tel No.:-91-20-24374400 |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S R Borkar and Company Chartered Accountant |
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Address : |
S No.694/B-2, Office No.504, Poonam Plaza, Market Yard Road,
Pune-411037, Maharashtra, India |
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PAN No.: |
ABGPB3952K |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
5000 |
Equity Shares |
Rs.100/- each |
Rs. 0.500 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
1030 |
Equity Shares |
Rs.100/-
each |
Rs. 0.103
Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
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1] Share Capital |
0.103 |
0.103 |
0.103 |
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2] Share Application Money |
0.167 |
0.167 |
0.167 |
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3] Reserves & Surplus |
3.377 |
2.800 |
2.229 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
3.647 |
3.070 |
2.499 |
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LOAN FUNDS |
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|
1] Secured Loans |
3.578 |
3.077 |
0.422 |
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2] Unsecured Loans |
1.760 |
0.072 |
0.072 |
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TOTAL BORROWING |
5.338 |
3.149 |
0.494 |
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DEFERRED TAX LIABILITIES |
0.065 |
0.018 |
0.000 |
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TOTAL |
9.050 |
6.237 |
2.993 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
7.097 |
4.405 |
1.641 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.041 |
0.041 |
0.019 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
2.406
|
1.566 |
0.612 |
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Sundry Debtors |
5.368
|
4.829 |
7.456 |
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|
Cash & Bank Balances |
0.731
|
0.446 |
0.042 |
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Other Current Assets |
0.050
|
0.000 |
0.015 |
|
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Loans & Advances |
0.213
|
0.245 |
0.030 |
|
Total
Current Assets |
8.768
|
7.086 |
8.155 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
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Sundry Creditors |
6.055
|
4.592 |
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|
Other Current Liabilities |
0.000
|
0.000 |
6.301 |
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Provisions |
0.801
|
0.703 |
0.521 |
|
Total
Current Liabilities |
6.856
|
5.295 |
6.822 |
|
|
Net Current Assets |
1.912
|
1.791 |
1.333 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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|
|
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|
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TOTAL |
9.050 |
6.237 |
2.993 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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|
SALES |
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Income |
17.224 |
|
16.251 |
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Other Income |
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TOTAL |
17.224 |
14.785 |
16.251 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.46
|
1.03 |
0.20 |
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Current Ratio (Current Asset/Current Liability) |
|
1.28
|
1.34 |
1.20 |
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
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8] |
No. of employees |
Yes |
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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 |
No |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
|
Unsecured Loan |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
Long Term
Borrowings |
|
|
|
Shri V B Phate |
0.072 |
0.072 |
|
Shri Atul Salunkhe |
0.300 |
0.000 |
|
Suvarna P Phate |
0.177 |
0.000 |
|
Shri Pandurang V Phate |
0.811 |
0.000 |
|
Crown International Express |
0.300 |
0.000 |
|
Gurukrupa Engg. Works |
0.100 |
0.000 |
|
|
|
|
|
TOTAL |
1.760 |
0.072 |
PROGRESS OF THE
COMPANY
This is the Sixteenth year of business of the company. During the last
year ended on 31.03.2011 the total turnover of the company was Rs. 14.785
Millions while the total turnover for this year of the Company is Rs. 17.224
Millions. The Board of Directors of the company is very hopeful for the future
expansion of the business and to foresee the good prospects in the coming
years.
OPERATIONS
During the year the company has maintained the quality of production
against orders received during the year. The Directors of the Company are very
confident to increase the quality of operations to prevent from the
competitions in this field.
FORM 8
|
Corporate
identity number of the company |
U29120MH1997PTC104955 |
|
Name of the
company |
OMKAR VALVES PRIVATE
LIMITED |
|
Address of the
registered office or of the principal place of business in |
43/1/B, Jogeshwari Nagar, Gujarwadi, Katraj, Pune-411046, Maharashtra, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
·
Immovable
property ·
Book
debts ·
Movable
property (not being pledge) ·
Floating
charge |
|
Particular of
charge holder |
The Cosmos Co-Operative Bank Limited, Dhanakawadi Branch, 269/270, Shaniwar Peth, Pune-411030, Maharashtra, India |
|
Nature of
instrument creating charge |
Composite Deed of
Mortgage And Hypothecation For Creation of Further Charge Dated 11/12/2012 |
|
Date of
instrument Creating the charge |
11.12.2012 |
|
Amount secured by
the charge |
Rs. 1.000 Million |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Interest: 13.5 %
P.A. At Present Terms of repayment Repayable On
Demand/ Review Within 12 Months Margin Margin: 25% In
Bank's Favour Extent and operation of the charge The Charge Shall
Continue To Operate Untill Full Repayment Of Loan By The Company Other Facility: Bill
Discounting |
|
Short particulars
of the property charged (Including location of the property) |
Property At S.
No. 43/1B, Village Katraj, Taluka Haveli, District Pune Hypothecation of
Stock, Debtors, Existing Machinery, Bills Drawn on Reputed Companies |
|
Whether any of
the property or interest therein under reference is not registered in the
name of the company. |
Yes |
|
If yes, in whose
name it is registers |
Pandurang Phate |
FIXED ASSETS
·
Patterns and Dies
·
Machinery and Instrument
·
Air Condition
·
Computer
·
Factory Wall Compound
·
Furniture and Fixtures
·
Generator
·
Laptop
·
Telephone Instruments
·
Workshop Building
·
Workshop Under
Construction
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. 56.64 |
|
|
1 |
Rs. 86.68 |
|
Euro |
1 |
Rs. 73.97 |
INFORMATION DETAILS
|
Information Gathered
by : |
HTL |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
33 |
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.