MIRA
INFORM REPORT
|
Report Date : |
26.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
ARGOS INTERNATIONAL MARKETING PRIVATE LIMITED |
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Registered
Office : |
Unit No.F-1, 1st Floor, Shanti Nagar Co-Operative
Industrial Estate Limited, Vakola, Santacruz (East), Mumbai – 400 055, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
17.12.1998 |
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Com. Reg. No.: |
11-117498 |
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Capital
Investment / Paid-up Capital : |
Rs.2.500
Millions |
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|
CIN No.: [Company Identification
No.] |
U51900MH1998PTC117498 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA21641E MUMA12959C |
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PAN No.: [Permanent Account No.] |
AABCA7471P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader, Merchant Exporter and Importer of Polymer based Packaging
Material, Bulk Drugs. |
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|
No. of Employees
: |
20 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
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 32000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. There appears
some dip in the turnover and the company has also incurred a loss during the
2012. However, trade relations are reported as fair. Business is active.
Payments are reported to be 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. Deepak Prabhu |
|
Designation : |
Senior Manager – Accounts Department |
|
Contact No.: |
91-22-30642000 |
|
Date : |
24.06.2013 |
LOCATIONS
|
Registered Office : |
Unit No.F-1, 1st Floor, Shanti Nagar Co-Operative
Industrial Estate Limited, Vakola, Santacruz (East), Mumbai – 400 055,
Maharashtra, India |
|
Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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|
Website : |
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Location : |
Owned |
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|
Corporate Office : |
101, Kalpataru Synergy, 8th Floor, Opposite Grand Hyatt,
Santacruz (East), Mumbai – 400 055, Maharashtra, India |
|
Tel. No.: |
91-22-30642000 (20 Lines) |
|
Fax No.: |
91-22-30642050 |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Rajesh Bhagchand Golechha |
|
Designation : |
Director |
|
Address : |
294/16, Kalpataru Horizon, S.K. Ahire Marg, Worli, Mumbai – 400 018,
Maharashtra, India |
|
Date of Birth/Age : |
13.08.1964 |
|
Date of Appointment : |
17.12.1998 |
|
DIN No.: |
00037455 |
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|
Name : |
Mr. Imtiaz Husain Kanga |
|
Designation : |
Director |
|
Address : |
1, Kalpataru, 39, Dr. G. Deshmukh Marg, Mumbai – 400 026, Maharashtra,
India |
|
Date of Birth/Age : |
30.08.1952 |
|
Date of Appointment : |
16.08.2000 |
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DIN No.: |
00136272 |
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|
|
|
Name : |
Mr. Anuj Amar Munot |
|
Designation : |
Director |
|
Address : |
Kalpataru Horizon, 214/224 A, S.K. Ahire Marg, Worli, Mumbai – 400 018,
Maharashtra, India |
|
Date of Birth/Age : |
15.11.1977 |
|
Date of Appointment : |
12.01.2005 |
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DIN No.: |
00136204 |
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Name : |
Ms. Sudha Rajesh Golechha |
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Designation : |
Director |
|
Address : |
294/16, Kalpataru Horizon, S.K. Ahire Marg, Worli, Mumbai – 400 018,
Maharashtra, India |
|
Date of Birth/Age : |
25.11.1964 |
|
Date of Appointment : |
01.01.2009 |
|
DIN No.: |
00646341 |
KEY EXECUTIVES
|
Name : |
Mr. Deepak Prabhu |
|
Designation : |
Senior Manager – Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
Spruce Agro Farms Private Limited, India |
125000 |
|
Spruce Orchards Private Limited, India |
125000 |
|
TOTAL
|
250000 |
As on 29.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Bodies corporate |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader, Merchant Exporter and Importer of Polymer based Packaging
Material, Bulk Drugs. |
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Exports : |
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Products : |
Polymer based Packaging Material, Bulk Drugs. |
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Countries : |
·
Singapore ·
China ·
Argentina ·
Latin America ·
South Africa |
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Imports : |
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Products : |
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Countries : |
·
UAE ·
Taiwan ·
Iran ·
Korea ·
Japan ·
China ·
Thailand |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS: (AS ON 31.03.2011)
|
Particulars |
Unit |
Actual
Production |
|
Tablets |
Nos. |
887000 |
|
Liquids |
Ltrs. |
2189 |
|
Creams |
Kgs. |
2530 |
GENERAL INFORMATION
|
Customers : |
End Users |
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No. of Employees : |
20 (Approximately) |
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Bankers : |
·
Union Bank of India, 66/80, Mumbai, Samachar
Marg, Fort, Mumbai - 400 023, Maharashtra, India ·
Axis Bank Limited, Unit No.C-2, Wadia
International Centre, Axis House, Bombay Dyeing Mills Compound, Pandurang
Budhkar Marg, Worli, Mumbai – 400 025, Maharashtra, India |
||||||||||||||||||
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Facilities : |
CC/ PC/ LC – Rs.75.000 millions (From Axis Bank Limited)
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
MGB and Company Chartered Accountants |
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Address : |
Jolly Bhavan 2, 1st Floor, 7, New Marine Lines, Churchgate,
Mumbai – 400 020, Maharashtra, India |
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Tel. No.: |
91-22-66332330 |
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Fax No.: |
91-22-66351545 |
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E-Mail : |
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Website : |
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PAN No.: |
AAAFM5742R |
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Other Related Parties : |
·
Kalpataru Properties Private Limited ·
Kalpataru Limited |
CAPITAL STRUCTURE
After 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
330000 |
Equity Shares |
Rs.10/- each |
Rs.3.300
Millions |
|
|
|
|
|
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500
Millions |
|
|
|
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|
Terms/rights attached to equity shares
The Company has
only one class of equity shares having a par value of TI0 per share. Each
holder of equity shares is entitled to one vote per share, The company declares
and pays dividends in Indian rupees The final dividend proposed by the Board of
Directors is subject to the approval of the shareholders in the ensuing Annual
General Meeting.
In the event of
liquidation of the company, the holders of equity shares will be entitled to
receive remaining assets of the company, after distribution of all preferential
amounts. However, no such preferential amounts exist currently. The
distribution will be in proportion to the number of equity shares held by the
equity shareholders.
The reconciliation
of the number of equity shares outstanding is set out below
|
Particulars
|
As at 31st March, 2012 |
|
|
No. of Shares |
Amount (Rs. in
millions) |
|
|
Shares
outstanding at the beginning of the year |
250000 |
2.500 |
|
Shares Issued
during the year |
-- |
-- |
|
Shares outstanding at the end of the year |
250000 |
2.500 |
Details of each shareholder holding more than 5% shares is set out below
|
Name of
the shareholder |
As at 31st March, 2012 |
|
|
No. of Shares |
Percentage % of
holding |
|
|
Neo Pharma Private Limited |
-- |
-- |
|
Spruce Agro Farms Private Limited |
125000 |
50.00 |
|
Spruce Orchards Private Limited |
125000 |
50.00 |
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 |
2.500 |
|
(b) Reserves & Surplus |
|
5.543 |
7.385 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
8.043 |
9.885 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
0.353 |
1.714 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long
term liabilities |
|
0.489 |
0.000 |
|
(d) Long-term
provisions |
|
0.483 |
0.369 |
|
Total Non-current
Liabilities (3) |
|
1.325 |
2.083 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
17.764 |
19.389 |
|
(b)
Trade payables |
|
50.448
|
36.965
|
|
(c)
Other current liabilities |
|
10.889
|
6.333
|
|
(d) Short-term provisions |
|
0.027
|
0.052
|
|
Total Current
Liabilities (4) |
|
79.128 |
62.739 |
|
|
|
|
|
|
TOTAL |
|
88.496 |
74.707 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
5.371 |
7.097 |
|
(ii)
Intangible Assets |
|
0.714 |
0.000 |
|
(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) |
|
1.477 |
0.653 |
|
(d) Long-term Loan and Advances |
|
1.007 |
0.621 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
8.569 |
8.371 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
9.215
|
29.885
|
|
(c)
Trade receivables |
|
55.574
|
24.649
|
|
(d) Cash
and cash equivalents |
|
10.431
|
6.252
|
|
(e)
Short-term loans and advances |
|
4.330
|
4.426
|
|
(f)
Other current assets |
|
0.377
|
1.124
|
|
Total
Current Assets |
|
79.927 |
66.336 |
|
|
|
|
|
|
TOTAL |
|
88.496 |
74.707 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
2.500 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
6.725 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
9.225 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
5.967 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
5.967 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
15.192 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
9.280 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.407 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
21.213 |
|
|
Sundry Debtors |
|
|
6.145 |
|
|
Cash & Bank Balances |
|
|
0.374 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
5.995 |
|
Total
Current Assets |
|
|
33.727 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
21.683 |
|
|
Other Current Liabilities |
|
|
6.342 |
|
|
Provisions |
|
|
0.197 |
|
Total
Current Liabilities |
|
|
28.222 |
|
|
Net Current Assets |
|
|
5.505 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
15.192 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
326.096 |
650.474 |
311.706 |
|
|
|
Other Income |
1.301 |
1.356 |
7.201 |
|
|
|
TOTAL |
327.397 |
651.830 |
318.907 |
|
|
|
(Due to
fluctuation in Export-Import and high competition in market) |
|
||
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
330.063 |
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
330.063 |
650.822 |
317.328 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(2.666) |
1.008 |
1.579 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(0.824) |
0.349 |
0.563 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(1.842) |
0.659 |
1.016 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
7.384 |
6.725 |
5.709 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
5.542 |
7.384 |
6.725 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
FOB value of Exports |
49.108 |
522.971 |
303.383 |
|
|
|
Commission |
8.874 |
6.331 |
4.057 |
|
|
TOTAL EARNINGS |
57.982 |
529.302 |
307.440 |
|
|
|
|
|
|
|
|
|
|
CIF VALUE OF
IMPORTS |
224.231 |
96.828 |
16.370 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(7.37) |
2.64 |
4.06 |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
380.000 |
|
|
|
|
|
Expected Sales (2013-2014): Rs.450.000 millions
The above information has been parted by Mr. Deepak Prabhu (Senior
Manager – Accounts Department)
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(0.56) |
0.10
|
0.32 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(0.82) |
0.15
|
0.51 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.06) |
1.36
|
3.64 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.33) |
0.10
|
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.25 |
2.13
|
0.65 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.01 |
1.06
|
1.20 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2012 (Rs. in millions) |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
|
Trade Payable |
50.448 |
|
21.683 |
|
Creditors for |
|
|
|
|
- Capital goods |
0.319 |
0.000 |
|
|
- Expenses |
0.980 |
0.819 |
|
|
Total |
51.747 |
37.784 |
21.683 |
The Company has
not received any intimation from “suppliers” regarding their status under the Micro,
Small and Medium Enterprises Development Act, 2006 and hence details, if any,
relating to amounts unpaid as at the year end together with interest paid I payable
as required under the said Act have not been furnished
|
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 four years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
Yes |
|
14) Estimation for coming financial year |
Yes |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if
applicable) |
Yes |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter
involved in |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
|
31)
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32)
PAN of Proprietor/Partner/Director, if available |
No |
|
33)
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34)
External Agency Rating, if available |
No |
Note:
The registered office of the company has been shifted from 101, Kalpataru
Synergy, Opposite Grand Hyatt, Santacruz (East), Mumbai – 400 055, Maharashtra,
India to the present address w.e.f. 30.03.2011.
OPERATIONS:
Total income of the Company was Rs.327.300
millions in 2011-12 as compared to Rs.651.800 millions in 2010-11. The Company
is making efforts to boost export sales and improve profitability.
|
Unsecured Loans |
31.03.2012 (Rs. in Millions) |
31.03.2011 (Rs. in Millions) |
|
SHORT TERM BORROWINGS |
|
|
|
Loan from related
party |
0.428 |
19.253 |
|
Total |
0.428 |
19.253 |
Bankers Charges
Report as per Registry
|
Corporate identity number of the company |
U51900MH1998PTC117498 |
|
Name of the company |
ARGOS INTERNATIONAL MARKETING PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
Unit No.F-1, 1st Floor, Shanti Nagar Co-Operative
Industrial Estate Limited, Vakola, Santacruz (East), Mumbai – 400 055,
Maharashtra, India E-Mail: bapna.prakash@gmail.com |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10351605 |
|
Type of charge |
·
Book debts ·
Movable property (not being pledge) ·
Others (All Current Assets) |
|
Particular of charge holder |
Axis Bank Limited, Corporate Office, Bombay Dyeing Mills Compound,
Ground Floor, Pandurang Budhkar Marg, Worli, Mumbai – 400 025, Maharashtra,
India E-Mail: Rajesh.Laxman@axisbank.com |
|
Nature of instrument creating charge |
Agreement dated 1st September, 2012 executed between the
Company (Borrower), Axis Bank Limited (the Bank) and the Guarantors and
Mortgagor stating that the aggregate Principal Facilities amounting to
Rs.49.000 millions have been realigned ("Revised Principal
Facilities") by the Bank |
|
Date of instrument Creating the charge |
01.09.2012 |
|
Amount secured by the charge |
Rs.49.000 millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of
interest: 1. LC : Inland and Foreign LCs 2 CC: Base Rate + 3.50% i.e. presently 13.50% 3. EPC upto 180 days: Base Rate + 3% 4. BG Comm. 75%of bank Std. Charge Terms of
repayment: 1. LC : Maximum 180 Days including Lead Period 2. Cash Credit - On Demand 3. EPC:- Up to 180 days or
expiry of contract/ export letters of credit for shipment whichever is
earlier. 4. BG - 13 Months (Including claim period) Margin: 1. LC : Cash margin of 10% 2. Cash Credit - 25% on Stock & Book debts upto 60 days 3. EPC Limit - 25% 4. BG - Cash margin of 10% Extent and
operation of the charge: Hypothecation of all the stock in trade both present and future
consisting stock including raw material, stock in process, finished goods,
cash, and other current assets, being movable properties. |
|
Short particulars of the property charged (Including location of the
property) |
Hypothecation of all the stock in trade both present and future
consisting stock including raw material, stock in process, finished goods,
cash, and other current assets, being movable properties. |
|
Particulars of the present modification |
The Axis bank Limited (the Bank) has realigned the Principal
Facilities availed by the Company (the Borrower) amounting to Rs.49.000
millions. After current modification the aggregate amount on which charge has
been created remains unchanged at Rs.49.000 millions. |
FIXED ASSETS
Tangible Assets
·
Office Equipments
·
Computers
·
Furniture and Fixtures
·
Vehicles
Intangible Assets
·
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.59.70 |
|
|
1 |
Rs.92.25 |
|
Euro |
1 |
Rs.78.38 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.