MIRA
INFORM REPORT
|
Report Date : |
28.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
MINDCRAFT SOFTWARE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
17-A, Mehta Estate, Andheri - |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
13.09.2002 |
|
|
|
|
Com. Reg. No.: |
11-137199 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 26.101 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72900MH2002PTC137199 |
|
|
|
|
IEC No.: |
0302080805 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM17208C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCM1893K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing Software Implementation Services. |
|
|
|
|
No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 122000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record. The company has achieved a better growth in its sales turnover but has
seen a slight dip in its net profitability. The position of reserves seems to
be low which affects the liquidity position of the company. Trade relations are fair. Business is active. Payment terms are
reported as slow but correct. The company can be considered normal 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 PARTED BY
|
Name : |
Mr. Pawan |
|
Designation : |
Accounts Head |
|
Contact No.: |
91-22-42216200 |
|
Date : |
26.06.2013 |
LOCATIONS
|
Registered Office : |
17-A, Mehta Estate, Andheri - |
|
Tel. No.: |
91-22-42216200/ 66926200/ 66996200 |
|
Fax No.: |
91-22-66939730 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office : |
# 159, Ground Floor, 6th |
|
Tel. No.: |
91-80-23482270 |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Hemant Ladoba Nerurkar |
|
Designation : |
Managing director |
|
Address : |
5, Swapan Lokdarshan, |
|
Date of Birth/Age : |
17.11.1962 |
|
Date of Appointment : |
13.09.2002 |
|
DIN No.: |
00627401 |
|
|
|
|
Name : |
Mr. Haresh Sankalchand Hirani |
|
Designation : |
Director |
|
Address : |
201, Hirani Villa, |
|
Date of Birth/Age : |
11.10.1963 |
|
Date of Appointment : |
07.08.2006 |
|
DIN No.: |
00325005 |
|
|
|
|
Name : |
Mr. Rajesh Dinkar Mehta |
|
Designation : |
Director |
|
Address : |
33/8, New Jitendra Society Limited, Dadabhai Cross Road No.1, Vile
Parle (West), Mumbai – 40056, Maharashtra, India |
|
Date of Birth/Age : |
18.05.1962 |
|
Date of Appointment : |
01.11.2008 |
|
DIN No.: |
02253355 |
KEY EXECUTIVES
|
Name : |
Mr. Pawan |
|
Designation : |
Accounts Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Equity Shareholders |
|
No. of Shares |
|
|
|
|
|
Hemant Ladoba Nerurkar |
|
322000 |
|
Anagha H. Nerurkar |
|
7500 |
|
Viral Doshi |
|
10000 |
|
Amol Bavdekar |
|
10000 |
|
Rajesh Mehta |
|
10000 |
|
Sandesh Chavan |
|
10000 |
|
Haresh Hirani |
|
115000 |
|
Sanjay S. Sathaye and Sandhya S. Sathaye |
|
150000 |
|
Hemant Mirji |
|
10000 |
|
Kantaben Sankalchand Hirani |
|
35000 |
|
Raja Roychoudhury |
|
10000 |
|
Mallikarhun Jainapur |
|
10000 |
|
Paresh V. Sheth |
|
500 |
|
|
|
|
|
Total |
|
700000 |
|
Names of Preference Shareholders |
|
No. of Shares |
|
|
|
|
|
Saarth Estate
Private Limited, |
|
226000 |
|
Scorpio
International Private Limited, |
|
106000 |
|
Salome Investments
Private Limited, |
|
256000 |
|
Nitin Engineers
Private Limited, |
|
250000 |
|
Sathaye Inks and
Rollers Private Limited, |
|
250000 |
|
Sanjay Sharad
Sathaye |
|
200000 |
|
Haresh
Sankatchand Hirani |
|
776300 |
|
Kantaben Hirani |
|
72000 |
|
|
|
|
|
Total |
|
2136300 |
AS ON 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
70.00 |
|
Other
top fifty shareholders |
|
30.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Software Implementation Services. |
|
|
|
|
Products/ Services : |
v Software
Products v Software Support
v Software
Development |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users Banking
and Financial Services v Axis Bank v IDBI Bank v Bank Of Baroda v Indian Overseas Bank v BNP Paribas v Kotak Mahindra Bank Financial Services v Aditya Birla Customer Services Private Limited v CRISIL v AIG Home Finance India Limited v Edelweiss Financial Services Limited v Bombay Stock Exchange Life
Insurance v Birla Sun Life Insurance Company Limited v Kotak Mahindra Old Mutual Life Insurance Limited v Future Generali India Insurance Company Limited v Reliance Life Insurance Company Limited v HDFC Standard Life Insurance Company Limited v Tata AIG General Insurance Company Limited Mutual
Funds v HDFC Asset Management Company Limited v Kotak Mahindra Asset Management Company Limited v ICICI Prudential Asset Management Company v TATA Asset Management Pharmaceuticals v Arkray Piramal Medical v Cipla v Nicholas Piramal India Limited v Piramal Healthcare UK Limited Others v
Bharat Petroleum Corporation Limited v Indian
Oil Corporation Limited v Hindustan
Petroleum Corporation Limited |
|||||||||||||||||||||
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|
|||||||||||||||||||||
|
No. of Employees : |
250 (Approximately) |
|||||||||||||||||||||
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|
|||||||||||||||||||||
|
Bankers : |
v Corporation Bank, Vile Parle (East) Branch, 8 & 9 Kadamgiri Complex, Hanuman Road, Vile Parle (East), Mumbai - 400057, Maharashtra, India v Standard
Chartered Bank v ICICI Bank
Limited |
|||||||||||||||||||||
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|
|||||||||||||||||||||
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Facilities : |
|
|||||||||||||||||||||
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|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
May and Company Chartered Accountants |
|
Address : |
501, Rajgruh CHSL, Subhash Road, Vile Parle East, Mumbai – 400057,
Maharashtra, India |
|
Tel. No.: |
91-22-26116602 |
|
Fax No.: |
91-22-26117130 |
|
Email : |
|
|
Website : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AEMPP7749D |
CAPITAL STRUCTURE
AS ON 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,500,000 |
Equity Shares |
Rs. 10/- each |
Rs. 25.000 Millions |
|
2,500,000 |
Preference Shares |
Rs. 10/- each |
Rs. 25.000 Millions |
|
|
Total |
|
Rs. 50.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
700,000 |
Equity Shares |
Rs. 10/- each |
Rs. 7.000
Millions |
|
2,136,300 |
Preference Shares |
Rs. 10/- each |
Rs. 21.363 Millions |
|
|
Total |
|
Rs. 28.363
Millions |
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,500,000 |
Equity Shares |
Rs. 10/- each |
Rs. 25.000 Millions |
|
2,500,000 |
Preference Shares |
Rs. 10/- each |
Rs. 25.000 Millions |
|
|
Total |
|
Rs. 50.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
700,000 |
Equity Shares |
Rs. 10/- each |
Rs. 7.000
Millions |
|
1,910,100 |
Preference Shares |
Rs. 10/- each |
Rs. 19.101 Millions |
|
|
Total |
|
Rs. 26.101
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 |
|
26.101 |
28.363 |
|
(b) Reserves & Surplus |
|
4.492 |
2.364 |
|
(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) |
|
30.593 |
30.727 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
14.126 |
17.926 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long
term liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
14.126 |
17.926 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
26.751 |
6.777 |
|
(b)
Trade payables |
|
8.745 |
35.676 |
|
(c)
Other current liabilities |
|
1.813 |
0.563 |
|
(d) Short-term
provisions |
|
9.043 |
8.589 |
|
Total Current
Liabilities (4) |
|
46.352 |
51.605 |
|
|
|
|
|
|
TOTAL |
|
91.071 |
100.258 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
2.791 |
2.270 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
35.511 |
26.778 |
|
(b) Non-current Investments |
|
0.318 |
0.318 |
|
(c) Deferred tax assets (net) |
|
2.525 |
4.898 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
41.145 |
34.264 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
3.092 |
3.092 |
|
(c)
Trade receivables |
|
23.167 |
31.538 |
|
(d) Cash
and cash equivalents |
|
6.490 |
10.866 |
|
(e)
Short-term loans and advances |
|
2.906 |
3.122 |
|
(f)
Other current assets |
|
14.271 |
17.376 |
|
Total
Current Assets |
|
49.926 |
65.994 |
|
|
|
|
|
|
TOTAL |
|
91.071 |
100.258 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
29.383 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
12.000 |
|
|
4] (Accumulated Losses) |
|
|
(11.978) |
|
|
NETWORTH |
|
|
29.405 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
7.493 |
|
|
2] Unsecured Loans |
|
|
17.762 |
|
|
TOTAL BORROWING |
|
|
25.255 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
54.660 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
2.575 |
|
|
Capital work-in-progress |
|
|
14.797 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.162 |
|
|
DEFERREX TAX ASSETS |
|
|
6.279 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
3.092 |
|
|
Sundry Debtors |
|
|
19.436 |
|
|
Cash & Bank Balances |
|
|
0.163 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
25.049 |
|
Total
Current Assets |
|
|
47.740 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
9.807 |
|
|
Other Current Liabilities |
|
|
2.822 |
|
|
Provisions |
|
|
4.264 |
|
Total
Current Liabilities |
|
|
16.893 |
|
|
Net Current Assets |
|
|
30.847 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
54.660 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
187.796 |
143.483 |
119.897 |
|
|
|
Other Income |
NA |
1.217 |
1.159 |
|
|
|
TOTAL |
NA |
144.700 |
121.056 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
139.743 |
117.214 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
6.207 |
4.957 |
3.842 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
4.079 |
2.615 |
1.990 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
2.128 |
2.342 |
1.852 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(9.637) |
(11.978) |
(13.830) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA
|
(9.637) |
(11.978) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.82 |
0.83 |
0.63 |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
320.000 |
|
|
|
|
|
Expected Sales (2013-2014): Rs. 360.000 Millions
The above information has been parted by Mr. Pawan [Accounts Head]
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA |
1.62 |
1.53 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.31
|
3.46 |
3.20 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.77
|
7.26 |
7.64 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.16 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.34
|
0.80 |
0.86 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.08
|
1.28 |
2.83 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Trade Payables |
|
||
|
Creditors for Expenses |
0.388 |
0.379 |
|
|
Creditors for Goods |
7.566 |
31.017 |
|
|
Creditors for Services |
0.791 |
4.280 |
|
|
Total |
8.745 |
35.676 |
9.807 |
|
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
three years |
Yes |
|
12] |
Profitability for last
three 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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOANS
|
Unsecured Loans |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
LONG TERM
BORROWINGS |
|
|
|
Intercorporate Deposit |
1.700 |
5.000 |
|
Other unsecured loans |
12.426 |
12.926 |
|
Total |
14.126 |
17.926 |
Note:
The Registered office of the company has been shifted from WICEL
Administrative Building, 2nd Floor, Central Road, MIDC, Andheri (East), Mumbai
– 400093, Maharashtra, India to the present address
w.e.f.15.05.2009
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U72900MH2002PTC137199 |
|
Name of the
company |
MINDCRAFT
SOFTWARE PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
17-A, Mehta Estate, Andheri - Kurla Road, Andheri (East), Mumbai –
400093, Maharashtra, India Email: accounts@mcsil.com |
|
This form is for |
Modification of charge |
|
Charge
identification number of the modified |
10025360 |
|
Type of charge |
Book debts Movable property (not being pledge) Others [Current Assets] |
|
Particular of
charge holder |
Corporation Bank, Vile Parle (East) Branch, 8 & 9 Kadamgiri Complex, Hanuman Road, Vile Parle (East), Mumbai - 400057, Maharashtra, India Email: cb495@corpbank.co.in
|
|
Nature of
description of the instrument creating or modifying the charge |
1.Supplemental
common deed of hypothecation of movables/ assets/ debts 2.Counter
guarantee for the limits sanctioned (All the above
agreement constitute a single charge) |
|
Date of
instrument Creating the charge |
21.03.2012 |
|
Amount secured by
the charge |
Rs. 26.500
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As stipulated by bank
from time to time Terms of Repayment As stipulated by
bank from time to time Margin As stipulated by
bank from time to time Extent and Operation of the charge First charge
(present and future)-total limit Rs.26.500 Millions (cash credit=Rs.22.500
Millions and bank guarantee=Rs.4.000 Millions) And/or as
stipulated by bank from time to time Others As stipulated by
bank from time to time and as per agreement attached and as per sanction
letter of the bank |
|
Short particulars
of the property charged |
First charge
(present & future) on following assets:- (1) Hypothecation
of all book debts and receivables (2) Hypothecation
of all current and movable assets of the company |
|
Particulars of
the present modification |
By this
modification limit enhanced to Rs.26.500 Millions (cash credit=Rs.22.500
Millions and bank guarantee=Rs.4.000 Millions), continued security as given
by original charge as well as by modifications, terms and conditions as per
agreement attached and/or as per sanction letter of the bank |
FIXED ASSETS:
v Computers and Peripherals
v Communication Equipments
v Office Equipments
v Furniture and Fixtures
v Air Conditioner
v Television
v Motor Car
v Refrigerator
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. 60.59 |
|
|
1 |
Rs. 92.92 |
|
Euro |
1 |
Rs. 78.94 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
44 |
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.