1. Summary Information
|
|
|
Country |
India |
|
Company Name |
TEXPORT
OVERSEAS PRIVATE LIMITED |
Principal Name 1 |
Mr. Sameer Satishkumar Goenka |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Rajat Satishkumar Goenka |
|
|
|
Registration # |
08-16861 |
|
Street Address |
86-D1, Industrial Suburb, II Stage, Yeshwanthpur, |
||
|
Established Date |
02.01.1995 |
SIC Code |
-- |
|
Telephone# |
91-80-23376652/23470512/23372758/3372414/ 3371144//23379625/23374554/5592487 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-80-23378156 |
Business Style 2 |
Importers |
|
Homepage |
Product Name 1 |
Readymade Garments |
|
|
# of employees |
Not Available |
Product Name 2 |
-- |
|
Paid up capital |
Rs.9,900,000/- |
Product Name 3 |
-- |
|
Shareholders |
Directors or relatives of Directors -
100.00% |
Banking |
Citi
Bank |
|
Public Limited Corp. |
-- |
Business Period |
18 Years |
|
IPO |
-- |
International Ins. |
- |
|
Public |
-- |
Rating |
Ba (47) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Companies/other organisation under the control of KMP/relatives
where transactions are entered: |
India
|
Texport Industries Private Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
961,137,000 |
Current Liabilities |
251,927,000 |
|
Inventories |
555,350,000 |
Long-term Liabilities |
638,105,000 |
|
Fixed Assets |
329,611,000 |
Other Liabilities |
278,930,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
1,168,962,000 |
|
Invest& other Assets |
24,000 |
Retained Earnings |
667,260,000 |
|
|
0 |
Net Worth |
677,160,000 |
|
Total Assets |
1,846,122,000 |
Total Liab. & Equity |
1,846,122,000 |
|
Total Assets (Previous Year) |
1,220,238,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
3,207,441,000 |
Net Profit |
259,102,000 |
|
Sales(Previous yr) |
2,551,396,000 |
Net Profit(Prev.yr) |
156,334,000 |
MIRA
INFORM REPORT
|
Report Date : |
12.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
TEXPORT OVERSEAS PRIVATE LIMITED (w.e.f. 10.01.2008) |
|
|
|
|
Formerly Known
As : |
CHITRA CONSTRUCTIONS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
86-D1, Industrial Suburb, II Stage, Yeshwanthpur, Bangalore – 560 022, Karnataka |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
02.01.1995 |
|
|
|
|
Com. Reg. No.: |
08-16861 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.9.900
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U70200KA1995PTC016861 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACC7385F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturers, Importers and Exporters of all types of Readymade Garments. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2700000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was established as a partnership concern during 1986 by the
name ‘Texport Overseas’, and during 1995 it got reconstituted as a private
limited company. It is an established company having a satisfactory track record. The
latest financials of the company are not made available. As per previous year’s record, the company is found to be performing
well. The financial strength of the company is also high. Trade relations are reported as decent. Business is active. Payments
terms are usually correct and as per commitment. The company can be considered 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.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces of
its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to become
a major exporter of information technology services and software workers. In
2010, the Indian economy rebounded robustly from the global financial crisis -
in large part because of strong domestic demand - and growth exceeded 8%
year-on-year in real terms. However, India's economic growth in 2011 slowed
because of persistently high inflation and interest rates and little progress
on economic reforms. High international crude prices have exacerbated the
government's fuel subsidy expenditures contributing to a higher fiscal deficit,
and a worsening current account deficit. Little economic reform took place in
2011 largely due to corruption scandals that have slowed legislative work.
India's medium-term growth outlook is positive due to a young population and
corresponding low dependency ratio, healthy savings and investment rates, and
increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
A2 (Short Term Rating) |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
May 2011 |
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 : |
86-D1, Industrial Suburb, II Stage, Yeshwanthpur, |
|
Tel. No.: |
91-80-23376652/23470512/23372758/3372414/ 3371144//23379625/23374554/5592487 |
|
Fax No.: |
91-80-23378156 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on: 29.09.2012
|
Name : |
Mr. Sameer Satishkumar Goenka |
|
Designation : |
Director |
|
Address : |
Shiv Devi, No. 31, Vittal Mallya Road, Bangalore-560001, Karnataka, India |
|
Date of Birth/Age : |
27.04.1971 |
|
Date of Appointment : |
22.10.2004 |
|
DIN No.: |
01679872 |
|
|
|
|
Name : |
Mr. Rajat Satishkumar Goenka |
|
Designation : |
Director |
|
Address : |
Shiv Devi, No. 31, Vittal Mallya Road, Bangalore-560001, Karnataka, India |
|
Date of Birth/Age : |
02.12.1975 |
|
Date of Appointment : |
22.10.2004 |
|
DIN No.: |
01679879 |
|
|
|
|
Name : |
Mr. Satish Kumar Goenka |
|
Designation : |
Director |
|
Address : |
Shiv Devi, No. 31, Vittal Mallya Road, Bangalore-560001, Karnataka, India |
|
Date of Birth/Age : |
27.10.1947 |
|
Date of Appointment : |
22.10.2004 |
|
DIN No.: |
01768456 |
|
|
|
|
Name : |
Mr. Nisha Goenka |
|
Designation : |
Director |
|
Address : |
No 31, Vittal Mallaya Road, Bangalore, 560001, Karnataka, India |
|
Date of Birth/Age : |
31.08.1976 |
|
Date of Appointment : |
01.04.2011 |
|
DIN No.: |
02382116 |
|
|
|
|
Name : |
Mr. Shalini Sameer Goenka |
|
Designation : |
Director |
|
Address : |
No.414, Embassy Apartments, Ali Asker Road, Bangalore, Karnataka, India |
|
Date of Birth/Age : |
16.05.1975 |
|
Date of Appointment : |
01.04.2011 |
|
DIN No.: |
02385997 |
|
|
|
|
Name : |
Mr. Honnagangappa Chandra Mowly Shanmukh |
|
Designation : |
Additional director |
|
Address : |
No. D 104, Nagarjuna Meadows, Next To Montecarlo, Bangalore-560064, Karnataka, India |
|
Date of Birth/Age : |
22.11.1962 |
|
Date of Appointment : |
01.06.2012 |
|
DIN No.: |
05305593 |
MAJOR SHAREHOLDERS
As on: 29.09.2012
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Satish Kumar Goenka |
|
145500 |
|
Vidya Devi Goenka |
|
54500 |
|
Rajat Goenka |
|
150000 |
|
Sameer Goenka |
|
150000 |
|
Total |
|
500000 |
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Ms. Shalini Goenka Partner, Nisha Design |
|
245000 |
|
Ms Nisha Goenka Partner, Nisha Design |
|
245000 |
|
Total |
|
490000 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers, Importers and Exporters of all types of Readymade Garments. |
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Actual
Production |
|
Ready made Garments SSI |
Pcs |
7242467 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||
|
|
|
|||||||||
|
Bankers : |
Citi Bank, 506 - 507, Level - 5, Prestige Meridian 2, 30, M. G. Road,, Bangalore - 560001, Karnataka, India |
|||||||||
|
|
|
|||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.G.Bhat and Company Chartered Accountant |
|
Address : |
No.67, 1st floor,West of Chord road 2nd stage Bangalore -560086, Karnataka, India |
|
PAN.: |
AAOPB7105R |
|
|
|
|
Companies/other
organisation under the control of KMP/relatives where transactions are
entered: |
· Texport overseas · Nisha Design · Satish Kumar Goenka(HUF) · Texport Creation · Shalini Creations · Sameer Exports · Kisha Pvt ltd · Texport Fashions · Texport Industries Private Limited |
CAPITAL STRUCTURE
As on: 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
|
500000 |
Preference Shares |
Rs.10/- each |
Rs.5.000 Millions |
|
|
Total |
|
Rs.10.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000
Millions |
|
490000 |
Preference Shares |
Rs.10/- each |
Rs.4.900
Millions |
|
|
Total |
|
Rs.9.900 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
9.900 |
9.900 |
9.900 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
667.260 |
408.157 |
251.523 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
677.160 |
418.057 |
261.423 |
|
|
|
|
|
|
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
280.489 |
84.383 |
70.303 |
|
|
2] Unsecured Loans |
357.616 |
548.906 |
709.093 |
|
|
TOTAL BORROWING |
638.105 |
633.289 |
779.396 |
|
|
DEFERRED TAX LIABILITIES |
1.142 |
0.367 |
3.041 |
|
|
|
|
|
|
|
|
TOTAL |
1316.407 |
1051.713 |
1043.860 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
329.611 |
242.653 |
273.148 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.024 |
0.024 |
0.024 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
555.350
|
348.744 |
338.995 |
|
|
Sundry Debtors |
299.757
|
260.048 |
326.116 |
|
|
Cash & Bank Balances |
222.360
|
163.145 |
127.865 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
439.020
|
205.624 |
198.485 |
|
Total
Current Assets |
1516.487
|
977.561 |
991.461 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
216.168
|
90.930 |
87.733 |
|
|
Other Current Liabilities |
35.759
|
(112.510) |
1.614 |
|
|
Provisions |
277.788
|
190.105 |
131.426 |
|
Total
Current Liabilities |
529.715
|
168.525 |
220.773 |
|
|
Net Current Assets |
986.772
|
809.036 |
770.688 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1316.407 |
1051.713 |
1043.860 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3207.441 |
2551.396 |
2414.807 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
|
|
Office Expenses |
NA |
2286.721 |
2240.556 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
2286.721 |
2240.556 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
NA |
220.992 |
129.039 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
64.658 |
11.196 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
259.102 |
156.334 |
117.843 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
2614.486 |
2305.166 |
2143.536 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
261.72 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
8.66 |
5.34 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
18.11 |
10.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.53 |
0.49 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.94
|
1.51 |
2.98 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.86
|
5.80 |
4.49 |
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 |
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 |
No |
|
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 |
Yes |
FINANCIAL RESULTS:
During the year the Company earned an income of Rs.3207.441 Millions when compared Rs.2551.396 Millions during the previous year. The operations of the Company resulted in a net profit after tax of Rs.259.102 Millions when compared to profit of Rs. 156.334 Millions during the previous year.
UNSECURED LOAN:
(Rs in Millions)
|
Particulars |
As
on 31.03.2011 |
As
on 31.03.2010 |
|
Loans directors unsecured |
357.616 |
548.906 |
|
Total |
357.616 |
548.906 |
BANKERS CHARGES
REPORT AS PER REGISTRY:
|
Corporate
identity number of the company |
U70200KA1995PTC016861 |
|
Name of the
company |
TEXPORT OVERSEAS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
No. 86 D/1, Ii Stage, Industrial Suburb, Yeshwantpur, Bangalore – 560022, Karnataka, India |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
10306517 |
|
Type of charge |
· Immovable property · Movable property (not being pledge) · Others (Plant and Machinery) |
|
Particular of
charge holder |
Citi Bank N.A., 506-507, Level 5, Prestige Meridian 2, No.30, M. G. Road, Bangalore – 560001, Karnataka, India |
|
Nature of instrument
creating charge |
Goods Security
Agreement. Modification to
Memorandum of Entry. |
|
Date of
instrument Creating the charge |
08.08.2012 |
|
Amount secured by
the charge |
Rs.650.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As may be
stipulated by the bank from time to time. Terms of Repayment All facilities
are repayable on demand. Margin As agreed from
time to time. Extent and Operation of the charge First exclusive
charge by hypothecation of all the Borrower's Plant and Machinery located at
86 - D1, Yeshwanthpur Industrial Suburb - Stage II, Bangalore – 560022,
Karnataka, India Equitable
Mortgage of Immovable Property located at No.485/11, 14th Cross Road, Peenya
Industrial Area, 4th Phase, 2nd Stage, Nallakadaanhalli Village, Hobli,
Bangalore – 560068, Karnataka, India |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
· First exclusive charge by hypothecation of all the Borrower's Plant and Machinery located at 86 - D1, Yeshwanthpur Industrial Suburb - Stage II, Bangalore – 560022, Karnataka, India · Equitable Mortgage of Immovable Property located at No.485/11, 14th Cross Road, Peenya Industrial Area, 4th Phase, 2nd Stage,Nallakadaanhalli Village, Hobli, Bangalore – 560068, Karnataka, India |
|
Date of
instrument modifying the charge |
15.02.2012 |
|
Particulars of
the present modification |
Enhanced Credit Limit from Rs.350.000 Millions to Rs.650.000 Millions which is an increase of Rs.300.000 Millions. |
CONTINGENT
LIABILITIES NOT PROVIDED FOR AS AT 31.03.2011 – NIL ( - NIL - )
a. Bank Guarantee issued by Bank on behalf of the company -Rs.3.750 Millions (Rs. 6.250 Millions)
b. Letter of Credit issued by Bank on behalf of Company - Rs.16.253 Millions (Rs. 57.009 Millions)
c. Rs. 1.327 Millions Bank Guarantee issued by Bank on behalf of the Company [C.S. India] for Customs/ Excise case which is pending (Rs. 1.327 Millions) Guarantee renewed.
d. Service Tax on Rent: Service tax Liability on properties taken on rent by the company might arise in liue of various verdicts of the court.
FIXED ASSETS:
· Land
· Building
· Plant and Machinery
· Office Equipments
· Furniture and Fixtures
· Motor Vehicles
· Leasehold Properties
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 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.54.29 |
|
|
1 |
Rs.81.09 |
|
Euro |
1 |
Rs.70.61 |
INFORMATION DETAILS
|
Report Prepared
by : |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
47 |
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.