MIRA
INFORM REPORT
|
Report Date : |
13.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
JAMES WALKER INMARCO INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
104, Gayatri Commercial Complex, Behind Mittal Industrial Estate,
Andheri-Kurla Road, Andheri (East), Mumbai – 400059, 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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|
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|
Date of
Incorporation : |
28.02.2011 |
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|
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Com. Reg. No.: |
11-214165 |
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|
|
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Capital
Investment / Paid-up Capital : |
Rs.50.100 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24233MH2011PTC214165 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMJ15783F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCJ5371Q |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Fluid Sealing Products. |
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|
No. of Employees
: |
170 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 440000 |
|
|
|
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively new company having a moderate track record. The company has made a decent profitability in its first year of
operation. The performance of the company is improving during 2012. Trade relations are fair. Business is active. Payment terms are
reported as 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.
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. Santosh Singh |
|
Designation : |
Company Secretary |
|
Contact No.: |
91-8879797011 |
|
Date : |
12.06.2013 |
LOCATIONS
|
Registered Office/ Corporate Office : |
104, Gayatri commercial Complex, Behind Mittal Industrial Estate,
Andheri-Kurla Road, Andheri (East), Mumbai – 400059, Maharashtra, India |
|
Tel. No.: |
91-22-40808080/ 28509991 |
|
Mobile No.: |
91-8879797011 (Mr. Santosh Singh) |
|
Fax No.: |
91-22-28506220 |
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E-Mail : |
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Website : |
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|
Area : |
Owned |
|
|
|
|
Mumbai Trading Division : |
257, Sanjay Building No 5-B, Mittal Industrial Estate,
Andheri Kurla Road, Andheri (East),
Mumbai – 400059, Maharashta, India |
|
Tel. No.: |
91-22-40808151 |
|
Fax No.: |
91-22-40808150 |
|
E-Mail : |
|
|
|
|
|
Dadra Manufacturing Division : |
Plot No 140, Waghdhara Road,Dadra Village, Dadra and Nagar
Haveli |
|
Tel. No.: |
91-260-2668300/ 2668331 |
|
Fax No.: |
91-260-2668293 |
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E-Mail : |
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|
|
|
Regional Office : |
Located at: · Chennai · Orissa ·
Vadodara |
DIRECTORS
As on: 13.08.2012
|
Name : |
Mr. David Galloway |
|
Designation : |
Nominee Director |
|
Address : |
Town Farm Cottage, West Street, Marlow, SL72BP, United Kingdom |
|
Date of Birth/Age : |
29.06.1957 |
|
Date of Appointment : |
03.04.2012 |
|
DIN No.: |
05233570 |
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|
|
|
Name : |
Mr. Rasiklal Mansukhlal Doshi |
|
Designation : |
Managing Director |
|
Address : |
Flat No.102, Nippon – 1, Behind Kings Hotel, Juhu Tara Road, Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
14.07.1929 |
|
Date of Appointment : |
03.04.2012 |
|
PAN NO.: |
AACPD6256B |
|
DIN No.: |
00239580 |
|
|
|
|
Name : |
Mr. Chetan Rasiklal Doshi |
|
Designation : |
Director |
|
Address : |
Flat No.102, Nippon – 1, Behind Kings Hotel, Juhu Tara Road, Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
03.11.1968 |
|
Date of Appointment : |
28.02.2011 |
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PAN No.: |
AAHPD5448C |
|
DIN No.: |
00223199 |
|
|
|
|
Name : |
Mrs. Parul Chetan Doshi |
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Designation : |
Director |
|
Address : |
Flat No.102, Nippon – 1, Behind Kings Hotel, Juhu Tara Road, Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
12.03.1972 |
|
Date of Appointment : |
13.08.2012 |
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PAN No.: |
AAHPD5531C |
|
DIN No.: |
01676440 |
|
|
|
|
Name : |
Nicholas Ian White |
|
Designation : |
Nominee Director |
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Address : |
The Barn, Rectory Farm, Lightwater, GU185SH, United Kingdom |
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Date of Birth/Age : |
02.07.1970 |
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Date of Appointment : |
03.04.2012 |
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DIN No.: |
05170115 |
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|
|
|
Name : |
Nicholas Siong Sun Low Chuen Hueng |
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Designation : |
Nominee Director |
|
Address : |
38, Woodcote Hurst, KT 18 7DT ,England EPSOM |
|
Date of Birth/Age : |
14.09.1967 |
|
Date of Appointment : |
05.04.2013 |
|
DIN No.: |
06545748 |
KEY EXECUTIVES
|
Name : |
Mr. Santosh Singh |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 13.08.2012
|
Names of Shareholders |
|
No. of Shares |
|
Rasiklal Mansukhlal Doshi |
|
555839 |
|
Chetan Rasiklal Doshi |
|
1289515 |
|
Parul Chetan Doshi |
|
609546 |
|
James Walker Holding BV, Netherland |
|
2555100 |
|
|
|
|
|
Total |
|
5010000 |
Equity Share Break up (Percentage of Total Equity)
As on: 13.08.2012
|
Category |
|
Percentage |
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
51.00 |
|
Directors or relatives of directors |
|
49.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Fluid Sealing Products. |
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Products : |
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Exports : |
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Products : |
Fluid Sealing Products |
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Countries : |
·
UK ·
USA |
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Imports : |
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Products : |
Raw Material |
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Countries : |
·
UK ·
Netherland |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
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No. of Employees : |
170 (Approximately) |
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Bankers : |
· HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India ·
HDFC Bank Limited, Marol Branch, Andheri
(East), Mumbai, Maharashtra, India
· Bharat Co-Operative Bank Limited |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
N. J. Zeveri and Company Chartered Accountant |
|
Address : |
Premise No.1, Chetan Kunj, Ground Floor, N P Thakkar Road, Vile Parle (East),
Mumbai – 400057, Maharashtra, India |
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Tel No.: |
91-22-32477726 |
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Fax No.: |
91-22-26187150 |
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Email : |
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PAN No.: |
AAAPZ0988J |
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Joint Venture : |
James Walker Holding BV, UK |
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Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives: |
· Inmarco Universal Gaskets Private Limited CIN No.: U51900MH2008PTC187326 · Inmarco-Trem Seals Private Limited CIN No.: U29199MH2006PTC162782 · Indian Fluid Sealing Products Private Limited CIN No.: U14295MH2008PTC178130 · Aisa Automation and Robotics Private Limited CIN No.: U29190MH2008PTC178246 · Inmarco Industries Private Limited CIN No.: U24295MH1986PTC039524 · Inmarco FZC, UAE |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5500000 |
Equity Shares |
Rs.10/- each |
Rs.55.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5010000 |
Equity Shares |
Rs.10/- each |
Rs.50.100 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 |
|
50.100 |
0.100 |
|
(b) Reserves & Surplus |
|
60.721 |
(0.483) |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
|
|
|
|
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(3)
Non-current liabilities |
|
|
|
|
(a) long-term borrowings |
|
20.594 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
2.773 |
0.000 |
|
(d) long-term provisions |
|
4.553 |
0.000 |
|
|
|
|
|
|
(4) Current liabilities |
|
|
|
|
(a) Short term
borrowings |
|
34.453 |
0.459 |
|
(b) Trade payables |
|
42.442 |
0.024 |
|
(c) Other current
liabilities |
|
3.876 |
0.000 |
|
(d) Short-term provisions |
|
22.063 |
0.000 |
|
TOTAL |
|
241.575 |
0.100 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
79.127 |
0.000 |
|
(ii) Intangible Assets |
|
0.495 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.140 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.012 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.075 |
0.000 |
|
(d) Long-term Loan and Advances |
|
2.576 |
0.000 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
65.025 |
0.000 |
|
(c) Trade receivables |
|
83.117 |
0.000 |
|
(d) Cash and cash
equivalents |
|
1.504 |
0.100 |
|
(e) Short-term loans
and advances |
|
9.504 |
0.000 |
|
(f) Other current
assets |
|
0.000 |
0.000 |
|
TOTAL |
|
241.575 |
0.100 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
|
NA |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
|
NA |
(0.483) |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
57.513 |
(0.483) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
9.901 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE
TAX |
|
47.612 |
(0.483) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
19.006 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
28.606 |
(0.483) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
(0.483) |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed dividend |
|
16.533 |
0.000 |
|
|
|
Tax on proposed dividend |
|
2.682 |
0.000 |
|
|
|
Transferred to general reserve |
|
1.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
|
7.908 |
(0.483) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
73.428 |
NA |
|
|
TOTAL IMPORTS |
|
73.428 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
5.71 |
(48.28) |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
380.000 |
|
|
|
|
|
Expected Sales (2013-2014): Rs.400.000 Millions
The above information has been parted by Mr. Santosh Singh
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
|
NA |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
19.94 |
(483.00) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.43 |
1.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
0.50 |
(1.20) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.55 |
0.21 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
(Rs. In Millions)
|
Particulars |
|
31.03.2012 |
31.03.2011 |
|
Sundry Creditors |
|
42.442 |
0.024 |
|
|
|
|
|
|
Total |
|
42.442 |
0.024 |
|
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 two years |
Yes |
|
12] |
Profitability for last two 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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
UNSECURED LOAN
(Rs. In Millions)
|
Particular |
As on 31.03.2012 |
As on 31.03.2011 |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and advances from directors |
20.000 |
0.000 |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans and advances from related parties |
12.911 |
0.459 |
|
|
|
|
|
Total |
32.911 |
0.459 |
Bankers Charges
Report as per Registry
|
Corporate identity
number (CIN) or foreign company registration number of the company |
U24233MH2011PTC214165 |
|
Name of the
company |
JAMES WALKER
INMARCO INDUSTRIES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
104, Gayatri Commercial Complex, Behind Mittal Industrial Estate,
Andheri-Kurla Road, Andheri (East), Mumbai – 400059, Maharashtra, India E-mail: info@inmarco.com |
|
This form is for |
Creation of
charge |
|
Type of charge |
·
Book
debts ·
Movable
property (not being pledge) ·
Floating
charge |
|
Particular of
charge holder |
HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India E-mail: RBBform8@hdfcbank.com |
|
Nature of
instrument creating charge |
Letter of
Hypothecation. |
|
Date of
instrument Creating the charge |
13.04.2013 |
|
Amount secured by
the charge |
Rs.65.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest at the
rate as may be communicated by the Bank from time to time. Terms of
Repayment On Demand. Margin As may be
stipulated by the Bank from time to time. Extent and
Operation of the charge Hypothecation by
way of First Charge on Stocks and Book Debts to secure as a continuing
security as mentioned in Column No.15 below for the repayment of Rs.65.000
Millions together with interest, costs, charges, expenses and other moneys
due and payable by the Company to the Bank. Others NIL. |
FIXED ASSETS
Tangible Assets
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
Intangible Assets
· Computer Software
· Designs
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.58.27 |
|
|
1 |
Rs.91.16 |
|
Euro |
1 |
Rs.77.50 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
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 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
31 |
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.