MIRA INFORM REPORT
|
Report Date : |
27.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
MAHYCO MONSANTO BIOTECH ( |
|
|
|
|
Registered Office : |
5th Floor, Ahura Centre, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation : |
23.10.1997 |
|
|
|
|
Com. Reg. No.: |
11-111505 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs. 240.000 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U73100MH1997PLC111505 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMM12056C |
|
|
|
|
Legal Form : |
A Closely held public limited liability company |
|
|
|
|
Line of Business : |
Promoting, Marketing and Sublicensing Bollgard cotton trait
technology, and supporting the sub-licensees through market research and
advertising |
|
|
|
|
No. of Employees: |
Information denied by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (59) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 4700000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a 50:50 joint venture between Mahyco and Monsanto Holdings
Private Limited. It is an established company having good track record. There appears an increase in the sales turnover as well as net
profitability during 2012. Profit margin seems to be huge. There are no
external borrowings recorded during 2012. Fundamentally and financially the
company is strong and healthy. Trade relations are fair. Business is active. Payment terms are
regular and as per commitments. The company can be considered good for business dealings at usual
trade terms and conditions. |
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 DECLINED BY
Management non co-operative
LOCATIONS
|
Registered Office : |
5th Floor, Ahura Centre, |
|
Tel. No.: |
91-22-28246450 / 67029851 / 28247244 |
|
Fax No.: |
91-22-28244707 / 67023361 |
|
E-Mail : |
DIRECTORS
AS ON 17.07.2012
|
Name : |
Mr. Badrinarayan Ramulal Barwale |
|
Designation : |
Director |
|
Address : |
72-B, Urvashi, Petit Hall, |
|
Date of Birth/Age : |
13.08.1931 |
|
Date of Appointment : |
23.10.1997 |
|
DIN No.: |
00001479 |
|
|
|
|
Name : |
Mr. Rajendra Badrinarayan Barwale |
|
Designation : |
Director |
|
Address : |
72-B, Urvashi, Petit Hall, |
|
Date of Birth/Age : |
12.12.1955 |
|
Date of Appointment : |
23.10.1997 |
|
DIN No.: |
00001678 |
|
|
|
|
Name : |
Mr. Shyam Sunder Gopilal Agrawal |
|
Designation : |
Director |
|
Address : |
62, Jolly Maker Apartment No. II, Opp. World Trade Centre, Cuffe
Parade, Mumbai – 400 005, |
|
Date of Birth/Age : |
02.12.1947 |
|
Date of Appointment : |
23.10.1997 |
|
DIN No.: |
00001949 |
|
|
|
|
Name : |
Mr. Yogesh Basavaraj |
|
Designation : |
Alternate Director |
|
Address : |
1701, Sapphire Heights, 6/A, Lokhandwala Township, Kandivli (East), Mumbai-400101,
Maharashtra, India |
|
Date of Birth/Age : |
09.05.1966 |
|
Date of Appointment : |
09.08.2011 |
|
DIN No.: |
03572056 |
|
|
|
|
Name : |
Mr. Richard Gerald Gaudet |
|
Designation : |
Director appointed in Casual Vacancy |
|
Address : |
2202, Stoneridge Terrace, |
|
Date of Birth/Age : |
28.05.1955 |
|
Date of Appointment : |
25.01.2010 |
|
DIN No.: |
02953178 |
|
|
|
|
Name : |
Mr. Gyanendra Basant Shukla |
|
Designation : |
Alternate Director |
|
Address : |
13306, 33rd Floor Oberoi Woods, |
|
Date of Birth/Age : |
15.08.1966 |
|
Date of Appointment : |
25.01.2010 |
|
DIN No.: |
02922133 |
|
|
|
|
Name : |
Mr. Abdul Alim Rajabali Sayed |
|
Designation : |
Director Appointed in Casual Vacancy |
|
Address : |
B-71, Iris Park, Patel Estate Road, Jogeshwari (West), Mumbai-400102,
Maharashtra, India |
|
Date of Birth/Age : |
25.08.1972 |
|
Date of Appointment : |
20.06.2012 |
|
DIN No.: |
01976457 |
|
|
|
|
Name : |
Mr. Duraiswami Narain |
|
Designation : |
Director |
|
Address : |
Quantum Park, A-Wing, 8th Floor, Flat 803-4, Union Park,
Khar (West), Mumbai-400052, Maharashtra, India |
|
Date of Birth/Age : |
29.04.1963 |
|
Date of Appointment : |
16.11.2010 |
|
DIN No.: |
03310642 |
KEY EXECUTIVES
|
Name : |
Mr. Suny P Joseph |
|
Designation : |
Company Secretary |
|
Address : |
5th Floor, 96, Mahakali Caves Road, Andheri (East),
Mumbai-400093, Maharashtra, India |
|
Date of Birth : |
11.05.1968 |
|
Date of Appointment : |
19.01.2011 |
|
Pan No.: |
AAYPJ8409N |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 17.07.2012
|
Names of Equity Shareholders |
No. of Shares |
|
Maharashtra Hybrid Seeds Company Limited, India |
11899952 |
|
Monsanto Holdings Private Limited, India |
11899952 |
|
Barwale Ramulal Badrinaryan |
16 |
|
Barwal Badrinaryana Rajendra |
16 |
|
Shyamsunder Gopilal Agarwal |
16 |
|
Dhiraj Pant |
32 |
|
Abdul Alim Rajabali Sayed |
16 |
|
TOTAL
|
23800000 |
|
Names of Preference Shareholders |
No. of Shares |
|
Monsanto Holdings Private Limited, India |
1 |
|
TOTAL |
1 |
AS ON 17.07.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Bodies corporate |
99.99 |
|
Directors or relatives of Directors |
0.01 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Promoting, Marketing and Sublicensing Bollgard cotton trait
technology, and supporting the sub-licensees through market research and
advertising |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management |
|
|
|
|
Bankers : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountant |
|
Address : |
12, Dr. Annie Besant Road, Opposite Shiv Sagar Estate, Worli, Mumbai –
400 018, Maharashtra, India |
|
Tel. No.: |
91-22-66679000 |
|
Fax No.: |
91-22-66679025 |
|
PAN No.: |
AACFD4815A |
|
|
|
|
Joint Ventures : |
CIN No.: -
U01100MH1970PLC014600
CIN No.: -
U24110MH1996PTC096340 |
|
|
|
|
Fellow Subsidiaries : |
Monsanto India Limited |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24000000 |
Equity Shares |
Rs.10/- each |
Rs. 240.000 Millions |
|
10 |
Non-Voting Redeemable Non-Cumulative Preference Shares |
Rs.100/- each |
Rs. 0.001 Million |
|
|
TOTAL |
|
Rs. 240.001
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24000000 |
Equity Shares |
Rs.10/- each |
Rs. 240.000 Millions |
|
1 |
Non-Voting Redeemable Non-Cumulative Preference Shares |
Rs.100/- each |
Rs. 0.000 Million |
|
|
TOTAL |
|
Rs. 240.000
Millions |
AS ON 17.07.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24000000 |
Equity Shares |
Rs.10/- each |
Rs. 240.000 Millions |
|
10 |
Non-Voting Redeemable Non-Cumulative Preference Shares |
Rs.100/- each |
Rs. 0.001 Million |
|
|
TOTAL |
|
Rs. 240.001
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
23800000 |
Equity Shares |
Rs.10/- each |
Rs. 238.000 Millions |
|
1 |
Non-Voting Redeemable Non-Cumulative Preference Shares |
Rs.100/- each |
Rs. 0.000 Million |
|
|
TOTAL |
|
Rs. 238.000
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 |
|
240.000 |
240.000 |
|
(b) Reserves & Surplus |
|
954.200 |
643.700 |
|
(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) |
|
1194.200 |
883.700 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
20.400 |
12.600 |
|
Total Non-current
Liabilities (3) |
|
20.400 |
12.600 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
|
0.000 |
0.000 |
|
(b) Trade payables |
|
39.100 |
50.100 |
|
(c) Other current liabilities |
|
58.200 |
33.600 |
|
(d) Short-term
provisions |
|
292.800 |
285.600 |
|
Total Current
Liabilities (4) |
|
390.100 |
369.300 |
|
|
|
|
|
|
TOTAL |
|
1604.700 |
1265.600 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
0.200 |
0.200 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
1.600 |
|
(d) Long-term Loan and Advances |
|
188.000 |
121.600 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
188.200 |
123.400 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
839.000 |
681.300 |
|
(b) Inventories |
|
0.000 |
0.000 |
|
(c) Trade receivables |
|
396.900 |
315.000 |
|
(d) Cash and cash
equivalents |
|
143.000 |
76.000 |
|
(e) Short-term loans and
advances |
|
37.500 |
69.800 |
|
(f) Other current
assets |
|
0.100 |
0.100 |
|
Total Current Assets |
|
1416.500 |
1142.200 |
|
|
|
|
|
|
TOTAL |
|
1604.700 |
1265.600 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
240.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
396.262 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
636.262 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
636.262 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.281 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
659.578 |
|
|
DEFERREX TAX ASSETS |
|
|
1.294 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000
|
|
|
Sundry Debtors |
|
|
175.729
|
|
|
Cash & Bank Balances |
|
|
200.193
|
|
|
Other Current Assets |
|
|
7.232
|
|
|
Loans & Advances |
|
|
69.512
|
|
Total
Current Assets |
|
|
452.666 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
216.823
|
|
|
Other Current Liabilities |
|
|
35.752
|
|
|
Provisions |
|
|
224.982
|
|
Total
Current Liabilities |
|
|
477.557 |
|
|
Net Current Assets |
|
|
(24.891)
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
636.262 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
6321.900 |
4848.300 |
4537.587 |
|
|
|
Other Income |
94.500 |
86.000 |
214.846 |
|
|
|
TOTAL (A) |
6416.400 |
4934.300 |
4752.433 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee benefit expense |
109.400 |
|
1542.663 |
|
|
|
Other expenses |
1809.300 |
1543.400 |
|
|
|
|
TOTAL (B) |
1918.700 |
1617.300 |
1542.663 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
4497.700 |
3317.000 |
3209.777 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.300 |
154.700 |
6.219 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4496.400 |
3162.300 |
3203.551 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.100 |
0.100 |
0.111 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
4496.300 |
3162.200 |
3203.440 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1438.300 |
956.700 |
1079.977 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
3058.000 |
2205.500 |
2123.463 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
42.400 |
17.300 |
366.679 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim Dividend Paid |
2364.000 |
1680.000 |
1932.000 |
|
|
|
Tax on Dividend |
383.500 |
278.100 |
327.880 |
|
|
|
Transfer to General Reserve |
305.800 |
222.300 |
213.000 |
|
|
BALANCE CARRIED
TO THE B/S |
47.100 |
42.400 |
17.262 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
127.42 |
91.89 |
88.48 |
|
%20LIMITED%20-%20226744%2027-Jun-2013_files/image001.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
47.66
|
44.70 |
44.68 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
71.12
|
65.22 |
70.60 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
280.20
|
250.17 |
707.24 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
3.77
|
3.58 |
5.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.63
|
3.09 |
0.95 |
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 |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
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 |
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Sundry Creditors
|
39.100 |
50.100 |
216.823 |
|
|
|
|
|
|
TOTAL |
39.100 |
50.100 |
216.823 |
OPERATIONS
During the year,
the Company earned Rs. 6321.900 Millions as Technology and sub-license fee from
its sub-licensees (Rs. 4848.300 Millions in the previous year).
The company is now
focussing on promoting Bollgard II® cotton trait technology in view of its
better insect resistance management. The company continues to work with its
sublicenses in promoting good agronomic practices, benefits of Bollgard II
technology and refugee management to farmers through marketing campaigns.
With increased
availability of hybrids of choice in the Bollgard II® technology, cotton
farmers in India increased their acreage under this technology. The Sales and
marketing team identified the low penetration areas of Bollgard II® and
developed customized field campaigns and activities to effectively communicate
the benefits of Bollgard II® technology. These activities were supported by the
field teams of the sublicenses.
The Cotton Crop
and the textile industry stakeholders continue to acknowledge the role of Bt
cotton technologies (Bollgard® and Bollgard II®) in enhancing the cotton
production in the country. Many farmer associations and scientific community
have also acknowledged the role of the technology in contributing to positive
socio economic benefits to the farmers.
FIXED ASSETS
- Machinery and Equipments
- Computers
- Vehicles
- Office Equipments
WEBSITE DETAILS
NEWS
GOVERNMENT BANS MAHYCO MONSANTO BIOTECH
The Director of Inputs and Quality
Control (DIQC), the licensing authority in Maharashtra, has banned Mahyco
Monsanto Biotech (MMB) in its final order.
The Director of Inputs and Quality
Control (DIQC), the licensing authority in Maharashtra, has banned Mahyco
Monsanto Biotech (MMB) in its final order.
A notice has been sent under the
provisions of the 2009 Maharashtra Cotton Act which states that all trade
activities of the company are illegal.
The DIQC, Dr Sudam Adsule, announced
today that any violation could invite stern punitive action against the
company. “As a safeguard against the company challenging the order, we have
already moved both the Mumbai and Aurangabad benches of the Bombay high court
and filed a caveat. We gave them a fair chance and charged them under the Act
only when we were sure of their unfair trade practices,” Adusle said.
The DIQC’s announcement has brought
a closure of sorts to a long battle against Bt Cotton. “We welcome this
decision as Bt Cotton played a key role in accelerating the farmer suicide saga
in Vidarbha since June 2005. In fact, we demand that all 28 companies connected
with MMB be banned,” said Kishore Tiwari of the Vidarbha Jan Andolan Samiti.
“It is high time the authorities
pushed for replacing Bt with the traditional Indian cotton seed. Straight
variety seeds cost much lesser than the Bt varieties. Also, these varieties
become ready for plucking in 150-160 days unlike Bt varieties which take
180-200 days. This reduces need for fertilizers, pesticides and other nutrients
substantially.”
On the basis of the complaints from
cotton farmers as well as reports from agriculture officers, state agriculture
minister, Radhakrishnna Vikhe Patil, had told the state legislative assembly
last month that the government was convinced that the company was cheating
innocent cotton farmers by supplying sub-standard seeds, and was also involved
in its black marketing by creating artificial shortage of supplies and ignoring
notices of unfair trade practices.
The minister had also announced the
government’s desire to ban the sale of MMB’s Bt cotton as it had failed to
supply good quality seeds despite taking huge advances from debt-trapped
farmers in the state.
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. 59.85 |
|
|
1 |
Rs. 92.30 |
|
Euro |
1 |
Rs. 78.22 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
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 |
|
59 |
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.