MIRA INFORM REPORT
|
Report Date : |
12.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
INSOLARE ENERGY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1st Floor, G-35, Green Park, New Delhi-110016 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
20.06.2008 |
|
|
|
|
Com. Reg. No.: |
55-179857 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 2.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45206DL2008PTC179857 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader of solar energy, solar thermal etc and also offering system designing
services. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 13000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The company has been successful in wiping off its accumulated losses
completely during 2012 from the profits earned during the year. However, the financial position of the company is moderate. Trade relations are fair. Business is active. Payment terms are slow
but correct. The company can be considered for 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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.
LOCATIONS
|
Registered Office : |
1st Floor, G-35, Green Park, New Delhi-110016, India |
|
Tel. No.: |
91-11-26861616 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office / Branch Office : |
5th Floor, ASK Towers, Kundanahalli, Bangalore-560066,
Karnataka, India |
|
Tel. No.: |
91-80-41279386 |
|
Fax No.: |
91-80-41279389 |
|
|
|
|
Branch Office : |
Also Located At
|
DIRECTORS
AS ON 28.09.2012
|
Name : |
Mr. Sunit Dharamveer Tyagi |
|
Designation : |
Director |
|
Address : |
Villa No. 148, Phase-2, Adarsh Palm Meadows, Whitefield,
Bangalore-560066, Karnataka, India |
|
Date of Birth/Age : |
16.07.1962 |
|
Date of Appointment : |
01.10.2009 |
|
DIN No.: |
01025709 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name of the
Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date of
appointment at current designation |
Original date of
appointment |
Company/ LLP Status |
Defaulting
status |
|
1 |
U36109KA2006PTC040573 |
METROCORP
INTERIORS PRIVATE LIMITED |
Director |
15-12-06 |
15-12-06 |
Active |
|
|
2 |
U45206DL2008PTC179857 |
INSOLARE ENERGY
PRIVATE LIMITED |
Director |
30-09-10 |
14-07-09 |
Active |
NO |
|
3 |
U31401MH2013PTC239652 |
IGRENENERGI
SEMICONDUCTOR TECHNOLOGIES PRIVATE LIMITED |
Additional
director |
08-05-13 |
08-05-13 |
Active |
NO |
|
Name : |
Mr. Hemanshu Devshankar Bhatt |
|
Designation : |
Director |
|
Address : |
No.119, Ferns Bahitat B G Doddanekkundi, Bangalore-560037, Karnataka,
India |
|
Date of Birth/Age : |
29.01.1964 |
|
Date of Appointment : |
07.09.2010 |
|
DIN No.: |
02842679 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U45206DL2008PTC179857 |
INSOLARE
ENERGY PRIVATE LIMITED |
Director |
30-09-10 |
07-09-10 |
Active |
NO |
|
2 |
U31401MH2013PTC239652 |
IGRENENERGI
SEMICONDUCTOR TECHNOLOGIES PRIVATE LIMITED |
Director |
15-01-13 |
15-01-13 |
Active |
NO |
|
Name : |
Ms. Prabha Rai |
|
Designation : |
Director |
|
Address : |
House No. A-509, Indira Nagar, Luckow-226001, Uttar Pradesh,
India |
|
Date of Birth/Age : |
07.06.1943 |
|
Date of Appointment : |
20.06.2008 |
|
DIN No.: |
02029202 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U63040DL2008PTC174065 |
HOMEBOUND
TRAVELS PRIVATE LIMITED |
Director |
14-02-08 |
14-02-08 |
Active |
NO |
|
2 |
U45206DL2008PTC179857 |
INSOLARE
ENERGY PRIVATE LIMITED |
Director |
20-06-08 |
20-06-08 |
Active |
NO |
|
Name : |
Buddhi Sagar Rai |
|
Designation : |
Director |
|
Address : |
House No. A-509, Indira Nagar, Luckow-226001, Uttar Pradesh,
India |
|
Date of Birth/Age : |
01.07.1940 |
|
Date of Appointment : |
20.06.2008 |
|
DIN No.: |
02181090 |
|
|
|
|
Name : |
Ms. Parul Rai |
|
Designation : |
Director |
|
Address : |
V-6, Satya Sadan, Satya Marg, Chanakya Puri, New Delhi-110021, India |
|
Date of Birth/Age : |
05.01.1966 |
|
Date of Appointment : |
01.10.2009 |
|
DIN No.: |
00429616 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U63040DL1997PTC088666 |
R P
J TRAVELS PRIVATE LIMITED |
Director |
22-07-97 |
22-07-97 |
- |
Active |
NO |
|
2 |
U74999DL2000PTC107581 |
TELEMART
COMMUNICATION (INDIA) PRIVATE LIMITED |
Director |
01-10-02 |
01-10-02 |
- |
Amalgamated |
NO |
|
3 |
U64202DL2003PTC119799 |
TELEECARE
NETWORK INDIA PRIVATE LIMITED |
Director |
29-09-07 |
01-04-07 |
20-11-08 |
Active |
NO |
|
4 |
U45206DL2008PTC179857 |
INSOLARE
ENERGY PRIVATE LIMITED |
Director |
30-09-10 |
14-07-09 |
- |
Active |
NO |
|
5 |
L64200DL1993PLC054086 |
OPTIEMUS
INFRACOM LIMITED |
Director |
30-09-11 |
27-04-11 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2012
|
Names of Equity Shareholders |
No. of Shares |
|
Prabha Rai |
5000 |
|
Buddhi Sagar Rai |
5000 |
|
Sunit Dharamveer Tyagi |
50000 |
|
Hemanshu Devshankar Bhatt |
40000 |
|
TOTAL
|
100000 |
|
Names of Preference Shareholders |
No. of Shares |
|
CIIE Initiatives, India |
150000 |
|
TOTAL
|
150000 |
AS ON 28.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of solar energy, solar thermal etc and also offering system
designing services. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sunil K Gupta Chartered Accountant |
|
Address : |
6/19, 1st Floor, Sarva Priya Vihar, New Delhi-110016, India
|
|
Tel. No.: |
91-11-26967757 |
|
Telfax No.: |
91-11-26855015 |
|
E-Mail : |
|
|
PAN No.: |
AADPG2143F |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.10/- each |
Rs. 1.000
Million |
|
150000 |
Preference Shares |
Rs.10/- each |
Rs. 1.500 Millions |
|
|
TOTAL |
|
Rs. 2.500 Millions |
AS ON 28.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital : Rs. 3.000 Millions
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
2.500 |
0.100 |
|
(b) Reserves & Surplus |
|
0.965 |
(0.671) |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
|
|
|
|
|
(3)
Non-current liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.019 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current liabilities |
|
|
|
|
(a) Short term
borrowings |
|
9.947 |
10.670 |
|
(b) Trade payables |
|
2.531 |
0.507 |
|
(c) Other current
liabilities |
|
10.897 |
0.005 |
|
(d) Short-term
provisions |
|
2.678 |
0.826 |
|
TOTAL |
|
29.537 |
11.437 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
0.938 |
0.439 |
|
(ii) Intangible Assets |
|
0.020 |
0.021 |
|
(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 |
|
0.000 |
0.000 |
|
(e) Other
Non-current assets |
|
0.464 |
0.681 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
12.209 |
0.000 |
|
(c) Trade receivables |
|
3.753 |
7.308 |
|
(d) Cash and cash
equivalents |
|
9.917 |
1.608 |
|
(e) Short-term loans
and advances |
|
1.431 |
0.829 |
|
(f) Other current
assets |
|
0.805 |
0.551 |
|
TOTAL |
|
29.537 |
11.437 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.100 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(1.427) |
|
|
NETWORTH |
|
|
(1.327) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
5.376 |
|
|
TOTAL BORROWING |
|
|
5.376 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
4.049 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.553 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
1.214 |
|
|
Cash & Bank Balances |
|
|
1.761 |
|
|
Other Current Assets |
|
|
0.011 |
|
|
Loans & Advances |
|
|
0.840 |
|
Total
Current Assets |
|
|
3.826 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
0.321 |
|
|
Other Current Liabilities |
|
|
0.000 |
|
|
Provisions |
|
|
0.764 |
|
Total
Current Liabilities |
|
|
1.085 |
|
|
Net Current Assets |
|
|
2.741 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.755 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
4.049 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
45.431 |
21.547 |
2.775 |
|
|
|
Other Income |
0.041 |
0.011 |
0.000 |
|
|
|
TOTAL |
45.472 |
21.558 |
2.775 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials/ Services consumed |
31.805 |
11.956 |
|
|
|
|
Other Administative/ Manufacturing/ Operating Expenses |
12.397 |
4.416 |
|
|
|
|
Employee benefits expense |
11.367 |
4.127 |
|
|
|
|
Changes in inventories of finished goods, WIP and stock-in-trade |
(12.209) |
0.000 |
|
|
|
|
TOTAL |
43.360 |
20.499 |
4.113 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
2.112 |
1.059 |
(1.338) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.069 |
0.131 |
0.089 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
2.043 |
0.928 |
(1.427) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.408 |
0.172 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
1.635 |
0.756 |
(1.427) |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
16.35 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
3.60
|
3.51 |
(51.42) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.50
|
4.31 |
(51.42) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.92
|
8.11 |
(32.59) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.59
|
(1.63) |
1.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.87
|
(18.69) |
4.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.08
|
0.86 |
3.53 |
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming financial
year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
FACILITIES
|
Unsecured Loan |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans and
Advances From Related Parties |
|
|
|
Dr. Hemanshu Bhatt |
0.000 |
0.216 |
|
Dr. Sunit Tyagi |
8.903 |
9.410 |
|
Prabha Rai |
1.000 |
1.000 |
|
Other |
0.044 |
0.044 |
|
|
|
|
|
TOTAL |
9.947 |
10.670 |
FINANCIAL
PERFORMANCE VIS-A-VIS OPERATIONAL PERFORMANCE
During the year,
the Company's Net revenue was Rs. 45.500
Millions as against Rs.
21.600 Millions last year. EBITDA was Rs.
2.112 Millions as against of Rs.
1.060 Millions last year.
GENERAL OVERVIEW
Over the period of
time the Company's conviction for creating clean, innovative tech solutions
which are sustainable has strengthen further. They at InSolare are truly
committed for creating a sustainable profile of the Company.
The increasing
demand for clean energy which is none depleting and environmentally benign led
to a robust growth in the global solar industry. The Indian economy faces
significant challenges in terms of meeting its energy requirements with rapid
depletion of the conventional source of energy on one hand and increasing
energy requirements including the peaking power for the growing economy, on the
other hand. On this backdrop the thrust on renewable energy as a key energy source is the
step in right direction.
To realize its
vision to be the leaders in solar technology applications and thus provide
sustainable, innovative and cost-effective solutions to India's ever-increasing
energy needs, InSolare is focused on commercializing alternate technologies for
green and efficient energy generation systems such as solar thermal and solar
photovoltaic (PV).
They provide
services for installation of solar power projects based on any technology from
the concept of basic idea and designing of the plant to the commissioning of
the project and even beyond that in the form of Operation and Maintenance
services. They cover typical. services like regulatory matters, getting
government approvals, land identification and acquisition etc. If asked for. In
short they are a one stop shop for all the solar needs.
Services are
offered either on turnkey basis or EPMC (Engineering Procurement Management
Consultancy) basis which means that they work as an owners engineer providing
their services customized to the needs of the client.
The Company has
designed and commissioned a 5Mega Watt capacity Solar Photovoltaic power plant
at Shivlakha Gujarat, India. The Total project cost is of Rs. 643.500 Millions
including a five years comprehensive operations and maintenance with all spares
and consumables.
FUTURE OUTLOOK
The solar industry
has immense potential for a tropical country like India where around 45% of
households, mainly rural ones, do not have access to electricity, says their
new research report "Indian Solar
Energy Market Outlook 2012". The industry has witnessed rapid
growth over the past few years and is projected to grow further in future.
India is blessed with ample solar radiation and most part of the country
receives 300 to 330 sunny days in a year. India receives solar energy
equivalent to more than 5,000 Trillion kwh per year, which is far more than its
total annual energy consumption. The country's geographical location, large
population and government support are assisting it to become one of the most
rapidly emerging solar energy markets in the world. Consequently, the country
is becoming a favorite investment destination for both local and global players.
Demand for solar
products has been rapidly rising for the recent years, especially in rural
areas, and is expected to continue growing substantially during their forecast
period (20 1 1-20 13). Solar street lighting systems, home lighting systems,
power plants, solar cookers, solar pumps and solar water heating systems are
the most popular applications in India. The number of solar water heating
systems is projected to grow at a CAGR of about 22% between 201 1 and 2013.
Many states have
started promoting solar based applications by giving incentives and tax
savings. States like Gujarat and Rajasthan have formulated transparent and
progressive regulatory framework in order to boost the solar industry. Besides,
states like Delhi, Uttar Pradesh,
West Bengal, Maharashtra and Chandigarh are promoting solar energy in rural,
urban and semi urban areas.
The Indian solar
energy sector has been growing constantly in the past few years and is
projected to grow further in future due to Government's initiatives such as tax exemptions and subsidies. Also
with huge decline in the cost of solar power it has become more competitive
than diesel.
FIXED ASSETS
- Furniture and
Fixtures
- Computer
- Inslare Lab
Assets
- UPS
- Machines
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. 58.92 |
|
|
1 |
Rs. 91.80 |
|
Euro |
1 |
Rs. 78.18 |
INFORMATION DETAILS
|
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 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
|
32 |
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.