MIRA
INFORM REPORT
|
Report Date : |
20.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
MAITHAN ISPAT
LIMITED |
|
|
|
|
Formerly Known As : |
MAL INDUSTRIES
LIMITED |
|
|
|
|
Registered Office : |
9, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation : |
27.08.2003 |
|
|
|
|
Com. Reg. No.: |
21-096854 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1811.198 millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U27109WB2003PLC096854 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
CALM05936A |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AADCM7360B |
|
|
|
|
Legal Form : |
A Closely Held Public
Limited Liability Company |
|
|
|
|
Line of Business : |
Importer and
Exporter of Metal, Metal Products and Iron or Steel Products. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (12) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record.
There appears huge accumulated losses recorded by the company. The external
borrowing seems to be huge. However, business is active. Payments are reported to be slow. The company can be considered for business dealings on a safe and
secured trade terms and condition. |
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities: D |
|
Rating Explanation |
This rating are in default of expected in default soon. |
|
Date |
February, 2013 |
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 : |
9, |
|
Tel. No.: |
91-33-39877200 |
|
Fax No.: |
91-33-39877201 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
Chirkunda,
District Dhanbad - 828202, |
|
Tel. No.: |
91-6540-293344 (4
Lines) / 273005 |
|
Fax No.: |
91-6540-292191 |
|
E-Mail : |
|
|
|
|
|
Factory: |
Kalinganagar
Industrial Complex, Village Dasmania, |
|
Tel. No.: |
91-6726-304000 |
|
Fax No.: |
91-6726-304001 |
|
E-Mail : |
|
|
|
|
|
Branch Office: |
Located At: ·
Mumbai ·
·
·
Bhilai
·
Vishakapatanam
·
Bhubaneshwar
|
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Vishal Agarwalla |
|
Designation : |
Managing director |
|
Address : |
2-C, Mangalam, 35, Ahirr Pukur Road, Kolkata – 700019, West Bengal, India |
|
Date of Birth/Age : |
16.09.1971 |
|
Qualification : |
B.TECH |
|
Date of Appointment : |
31.05.2007 |
|
PAN No.: |
ACMPA9306M |
|
DIN No.: |
00129040 |
|
|
|
|
Name : |
Mr. Basant Kumar Agarwalla |
|
Designation : |
Director |
|
Address : |
2C, Mangalam, 35, Ahiri Pukur Road, Kolkata – 700019, West Bengal, India |
|
Date of Birth/Age : |
16.02.1946 |
|
Qualification : |
B.COM |
|
Date of Appointment : |
27.08.2003 |
|
PAN No.: |
ACMPA9293K |
|
DIN No.: |
00129140 |
|
|
|
|
Name : |
Mr. Vishal Agarwalla |
|
Designation : |
Managing director |
|
Address : |
2-C, Mangalam, 35, Ahirr Pukur Road, Kolkata – 700019, West Bengal, India |
|
Date of Birth/Age : |
16.09.1971 |
|
Qualification : |
B.TECH |
|
Date of Appointment : |
31.05.2007 |
|
PAN No.: |
ACMPA9306M |
|
DIN No.: |
00129040 |
|
|
|
|
Name : |
Mr. Aditya Agarwalla |
|
Designation : |
Whole-time director |
|
Address : |
2-C, Mangalam, 35, Ahirr Pukur Road, Kolkata – 700019, West Bengal, India |
|
Date of Birth/Age : |
28.12.1974 |
|
Qualification : |
MBA |
|
Date of Appointment : |
15.06.2004 |
|
PAN No.: |
ACMPA9304K |
|
DIN No.: |
00140683 |
|
|
|
|
Name : |
Mr. John Colston Parker |
|
Designation : |
Director |
|
Address : |
Sonnenweg, 24, Windeck Hurst, Windeck 51570 |
|
Date of Birth/Age : |
24.04.1948 |
|
Date of Appointment : |
09.05.2008 |
|
DIN No.: |
02219487 |
|
|
|
|
Name : |
Mr. Christopher David Martin |
|
Designation : |
Director |
|
Address : |
15, Camborne Road, Singapore 299851 |
|
Date of Birth/Age : |
06.01.1967 |
|
Date of Appointment : |
21.02.2008 |
|
DIN No.: |
02069820 |
KEY EXECUTIVES
|
Name : |
Mr. Ashok Sipani |
|
Designation : |
Secretary |
|
Address : |
106, K C, Singha road, Howrah - 711102, West Bengal, India |
|
Date of Birth/Age : |
06.12.1973 |
|
Date of Appointment : |
01.08.2007 |
|
PAN No.: |
AKOPS4110O |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
Note: Shareholding details file attached
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
25.40 |
|
Bodies corporate |
67.32 |
|
Directors or relatives of Directors |
7.23 |
|
Others |
0.05 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Importer and
Exporter of Metal, Metal Products and Iron or Steel Products. |
||||||||
|
|
|
||||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
· State Bank of India, Corporate Accounts Group Branch, 34, J L Nehru Road, Kolkata - 700071, West Bengal, India Punjab National Bank, 52A, Shakespeare Sarani, Kolakata,
West Bengal, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
SRBC and Compnay Chartered Accountants |
|
Address : |
22, Camac, Street, 3rd Floor, Block C, Kolkata- 700016, West Bengal, India |
|
PAN No.: |
ABSFS4151K |
|
|
|
|
Other Related Parties : |
· Woodhat Distributors Private Limited, India Raccie Housing and Finance Private Limited, India Orix Investment and Management Private Limited, Japan Mangalam Construction Private Limited, India Maithan Steel and Power Limited, India Maithan Smelters Limited, India Maithan International, India Maithan Ceramic Limited, India Maithan Alloys Limited, India Bimalnath Impex Private Limited, India Abha Property Project Limited, India |
CAPITAL STRUCTURE
As on 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
185000000 |
Equity Shares |
Rs.10/- each |
Rs. 1850.000 Millions |
|
30000000 |
Preference Shares |
Rs.10/- each |
Rs. 300.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 2150.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
181119798 |
Equity Shares |
Rs.10/- each |
Rs. 1811.198 Millions |
|
30000000 |
Preference Shares |
Rs.10/- each |
Rs. 300.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 2111.198
Millions |
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
185000000 |
Equity Shares |
Rs.10/- each |
Rs.1850.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
181119798 |
Equity Shares |
Rs.10/- each |
Rs.1811.198
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 |
|
1811.198 |
1811.198 |
|
(b) Reserves & Surplus |
|
(2297.560) |
(1065.471) |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
285.000 |
0.000 |
|
|
|
|
|
|
(3)
Non-current liabilities |
|
|
|
|
(a) Long-term borrowings |
|
5676.186 |
3453.574 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
55.918 |
47.584 |
|
(d) long-term provisions |
|
6.461 |
7.193 |
|
|
|
|
|
|
(4) Current liabilities |
|
|
|
|
(a) Short term borrowings |
|
381.549 |
905.680 |
|
(b) Trade payables |
|
982.090 |
813.045 |
|
(c) Other current
liabilities |
|
386.889 |
1312.128 |
|
(d) Short-term provisions |
|
0.982 |
1.074 |
|
TOTAL |
|
7288.713 |
7286.005 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
5759.861 |
6133.377 |
|
(ii) Intangible Assets |
|
1.334 |
2.419 |
|
(iii) Capital
work-in-progress |
|
77.471 |
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 |
|
64.008 |
71.380 |
|
(e) Other Non-current assets |
|
6.911 |
5.631 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
1135.161 |
826.477 |
|
(c) Trade receivables |
|
70.858 |
36.653 |
|
(d) Cash and cash
equivalents |
|
10.990 |
65.747 |
|
(e) Short-term loans and
advances |
|
141.873 |
117.360 |
|
(f) Other current assets |
|
20.246 |
26.961 |
|
TOTAL |
|
7288.713 |
7286.005 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
1811.198 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
180.730 |
|
|
4] (Accumulated Losses) |
|
|
(558.508) |
|
|
NETWORTH |
|
|
1433.420 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
4155.260 |
|
|
2] Unsecured Loans |
|
|
365.942 |
|
|
TOTAL BORROWING |
|
|
4521.202 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
5954.622 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
2667.482 |
|
|
Capital work-in-progress |
|
|
2586.153 |
|
|
Pre operative and trial run expenses |
|
|
737.178 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
550.514
|
|
|
Sundry Debtors |
|
|
79.235
|
|
|
Cash & Bank Balances |
|
|
128.049
|
|
|
Other Current Assets |
|
|
2.976
|
|
|
Loans & Advances |
|
|
150.828
|
|
Total
Current Assets |
|
|
911.602
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
525.849
|
|
|
Other Current Liabilities |
|
|
416.445
|
|
|
Provisions |
|
|
5.499
|
|
Total
Current Liabilities |
|
|
947.793
|
|
|
Net Current Assets |
|
|
(36.191)
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
5954.622 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3259.339 |
3130.468 |
2660.532 |
|
|
|
Other Income |
13.511 |
34.637 |
43.542 |
|
|
|
TOTAL (A) |
3272.850 |
3165.105 |
2704.074 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
2707.089 |
2437.253 |
|
|
|
|
Employee benefit expense |
107.291 |
98.657 |
|
|
|
|
Other expenses |
838.254 |
728.370 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(236.487) |
(109.501) |
|
|
|
|
TOTAL (B) |
3416.147 |
3154.779 |
2444.722 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
(143.297) |
10.326 |
259.352 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
700.520 |
421.975 |
245.138 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(843.817) |
(411.649) |
14.214 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
388.080 |
276.016 |
174.810 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
(1231.897) |
(687.665) |
(160.596) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.192 |
0.028 |
0.140 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
(1232.089) |
(687.693) |
(160.736) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(1246.201) |
(558.508) |
(397.772) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(2478.290) |
(1246.201) |
(558.508) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
284.084 |
472.226 |
1143.821 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Raw Materials |
|
|
244.902 |
|
|
|
Stores & Spares |
|
|
0.000 |
|
|
|
Capital Goods |
|
|
148.563 |
|
|
TOTAL IMPORTS |
NA |
726.427 |
393.465 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
(6.80) |
(3.80) |
(0.89) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(37.65)
|
(21.73) |
(5.94)
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(37.80)
|
(21.97) |
(6.04)
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(17.08)
|
(9.44) |
(4.49)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
2.53
|
0.92 |
(0.11)
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
(12.46)
|
5.85 |
3.82
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.79
|
0.35 |
0.96
|
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 |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
Yes |
|
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 |
Yes |
LITIGATION
DETAILS:
Case
Details
|
Petitioner: |
C.I.T., Central – I |
|
Respondent: |
Maithan Ispat Limited |
|
Date : |
17.10.2012 |
UNSECURED LOANS
|
Particulars |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
In Millions) |
|
Long Term
Borrowings |
|
|
|
Loans repayable on demand |
430.000 |
0.000 |
|
Loans repayable on demand from Others |
0.000 |
430.000 |
|
Short Term
Borrowings |
|
|
|
Rupee term loans from banks |
0.000 |
250.000 |
|
Total |
430.000 |
680.000 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U27109WB2003PLC096854 |
|
Name of the
company |
MAITHAN ISPAT
LIMITED |
|
Address of the
registered office or of the principal place of business in |
9, E-mail: a.sipani@maithangroup.com
|
|
This form is for |
Creation of charge |
|
Type of charge |
Immovable property |
|
Particular of
charge holder |
State Bank of India, Corporate Accounts Group Branch, 34, J L Nehru Road, Kolkata - 700071, West Bengal, India E-mail: asis.bhattacharya@sbi.co.in |
|
Nature of instrument
creating charge |
Memoradum of
entry dated february 24, 2012 for delivery of original title deed for 25 acre
of leasehold land at Kalinganagar Industrial Complex in Village Dasmania,
Duburi, p.s. Sukinda, Tehsil - Sukinda, District - Jajpur. |
|
Date of
instrument Creating the charge |
24.02.2012 |
|
Amount secured by
the charge |
Rs. 7829.300
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest 1.RTL, FITL &
WCTL:12.25%pa upto Mar-2013 & thereafter as per Sch IIIA, IIIB & IV
of MRA 2.Addl
TL:11.75%pa to be reset every 3 years as per MRA 3.Cash Credit
:12.25%pa be reset every year as per MRA Terms of Repayment RTL, FITL, WCTL
and Additional Term Loan as per Part B of Schedule IIIA, IIIB IV and V of MRA
respectively. Margin Margin for Cash
Credit : 25% Extent and Operation of the charge First pari passu
Charge by deposit of original title deed of 25 acre of land at Kalinganagar
Industrial Complex, Jajpur, Orissa together with all building and structures
thereon and all plants attached to the earth deposited with SBI, CAG Branch,
Kolkata, acting for itself and as monitoring institution of other bankers
namely PNB,BOB,IOB,SBM,OBC,BOI,DB and AB, towards security for the Term Loans
and Working Capital facilities. Others Term loans and working capital loans of bankers are as under: 1. State Bank of India (Rs. 2146.000 millions), 2. Punjab National Bank (Rs. 1481.600 millions), 3. Allahabad Bank (Rs. 873.200 millions), 4. Indian Overseas Bank (Rs. 712.500 millions), 5. Dena Bank (Rs. 708.300 millions), 6. Oriental Bank of Commerce (Rs. 655.200 millions), 7. Bank of India (Rs. 529.700 millions), 8. State Bank of Mysore (Rs. 399.300 millions) and 9. Bank of Baroda (Rs. 323.500 millions). |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Land measuring 25
acres situated at Kalinga Nagar Industrial Complex In Village - Dasmania,
P.S. - Sukinda, District - Jajpur with Building, Sheds, Godown, Structures
thereon. Plant and
Machinery attached to the land |
FIXED ASSETS
Tangible Assets
Land
Buildings
Factory
building
Other
building
Plant
and Equipment
Other
plant and equipment
Furniture
and fixtures
Vehicles
Office
equipment
Computer
equipments
Intangible Assets
·
Computer
software
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.58.74 |
|
|
1 |
Rs.91.99 |
|
Euro |
1 |
Rs.78.70 |
INFORMATION DETAILS
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
1 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
12 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.