MIRA INFORM REPORT
|
Report Date : |
18.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
PROSTAR MICRONOVA POWER SYSTEMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Sr. No.321, Patil Nagar, Bavdhan Budruk, Pune-411021, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
11.01.2008 |
|
|
|
|
Com. Reg. No.: |
11-131272 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31900PN2008PTC131272 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Import of the state-of-the-art UPS systems and the
services. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 26000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The
management of the company has failed to file its financials with the government
department for the year 2012. As per previous year’s record, there appear huge external borrowings. However, trade relations are reported as fair. Business is active.
Payment terms are unknown. 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.
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 |
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 / Corporate Office : |
Sr. No.321, Patil Nagar, Bavdhan Budruk, Pune-411021, Maharashtra,
India |
|
Tel. No.: |
91-20-32418232 / 32401927 / 32406981 / 32405028 |
|
Fax No.: |
91-20-22952359 |
|
E-Mail : |
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|
Website : |
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|
|
|
|
Branch Office : |
14, Madan Chatterjee Lane, Kolkata-700007, West Bengal, India |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Tapan Ghose |
|
Designation : |
Director |
|
Address : |
82/9 E, Ballygunge Place, 6th Floor, Flat No.12,
Kolkata-700019, West Bengal, India |
|
Date of Birth/Age : |
03.03.1955 |
|
Date of Appointment : |
01.08.2008 |
|
DIN No.: |
01739231 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U29130WB1998PTC086231 |
SWITCHING
CIRCUITS PRIVATE LIMITED |
Director |
01/01/1998 |
01/01/1998 |
Active |
NO |
|
2 |
U31900PN2008PTC131272 |
PROSTAR
MICRONOVA POWER SYSTEMS PRIVATE LIMITED |
Director |
29/09/2008 |
01/08/2008 |
Active |
NO |
|
Name : |
Mr. Ram Santosh Agarwal |
|
Designation : |
Director |
|
Address : |
67/47, Stand Road, Kolkata-700007, West Bengal, India |
|
Date of Birth/Age : |
05.05.1980 |
|
Date of Appointment : |
11.01.2008 |
|
DIN No.: |
01739245 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name of the
Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date of
appointment at current designation |
Original date of
appointment |
Company/ LLP
Status |
Defaulting
status |
|
1 |
U29130WB1998PTC086231 |
SWITCHING
CIRCUITS PRIVATE LIMITED |
Director |
23/08/2004 |
23/08/2004 |
Active |
NO |
|
2 |
U31900PN2008PTC131272 |
PROSTAR
MICRONOVA POWER SYSTEMS PRIVATE LIMITED |
Director |
11/01/2008 |
11/01/2008 |
Active |
NO |
|
3 |
U28910PN2008PTC131425 |
S K STAMPINGS
PRIVATE LIMITED |
Director |
14/02/2008 |
14/02/2008 |
Active |
|
Name : |
Mr. Sonu Shyamsunder Agarwal |
|
Designation : |
Director |
|
Address : |
B/73, Skylark Satellite, Ahmedabad-380015, Gujarat, India |
|
Date of Birth/Age : |
07.02.1981 |
|
Date of Appointment : |
11.01.2008 |
|
DIN No.: |
01920474 |
|
|
|
|
Name : |
Mr. Vikas Shyamsunder Agarwal |
|
Designation : |
Director |
|
Address : |
14, Amramanjari Bungalows, Bopal, Ahmedabad-380058, Gujarat, India |
|
Date of Birth/Age : |
26.11.1984 |
|
Date of Appointment : |
01.08.2008 |
|
DIN No.: |
01940262 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U31900PN2008PTC131272 |
PROSTAR
MICRONOVA POWER SYSTEMS PRIVATE LIMITED |
Director |
29/09/2008 |
01/08/2008 |
Active |
NO |
|
Name : |
Ms. Parvati Shyamsunder Agarwal |
|
Designation : |
Director |
|
Address : |
14, Amramanjari Bungalows, Bopal, Ahmedabad-380058, Gujarat, India |
|
Date of Birth/Age : |
25.03.1956 |
|
Date of Appointment : |
01.08.2008 |
|
DIN No.: |
02099948 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U31900PN2008PTC131272 |
PROSTAR
MICRONOVA POWER SYSTEMS PRIVATE LIMITED |
Director |
29/09/2008 |
01/08/2008 |
Active |
NO |
|
Name : |
Mr. Raghu Ramesh Thammannashastri |
|
Designation : |
Director |
|
Address : |
427, 17th Cross, Karnakanagar V Naganahalli Taluka,
Bangalore North (ADDL), Bangalore-560032, Karnataka, India |
|
Date of Birth/Age : |
18.07.1968 |
|
Date of Appointment : |
31.03.2011 |
|
DIN No.: |
03331642 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Ram Santosh Agarwal |
1266800 |
|
Sonu Shyamsunder Agarwal |
5000 |
|
Parvati Shyamsunder Agarwal |
291000 |
|
Shyamsunder Agarwal |
1000 |
|
Sunita Agarwal |
18500 |
|
Vikas Agarwal |
461600 |
|
Vikas Agarwal HUF |
27000 |
|
TOTAL
|
2070900 |
AS ON 30.09.2011
|
Equity Shares Break
Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Import of the state-of-the-art UPS systems and the
services. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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|
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|
Auditors : |
|
|
Name : |
BSA and Associates Chartered Accountant |
|
Address : |
102, Samrudh Varad, Sathe Colony, 1099, Shukarawar Peth, Behind
Kothari Wheels, Pune-411002, Maharashtra, India |
|
PAN No.: |
AMEPB1162E |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100
Million |
|
|
|
|
|
AS ON 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2070900 |
Equity Shares |
Rs.10/- each |
Rs. 20.709
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 |
0.100 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
6.405 |
2.928 |
1.138 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
6.505 |
3.028 |
1.238 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
23.957 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
7.983 |
3.328 |
2.883 |
|
|
TOTAL BORROWING |
31.940 |
3.328 |
2.883 |
|
|
DEFERRED TAX LIABILITIES |
0.033 |
0.010 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
38.478 |
6.366 |
4.121 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.028 |
0.982 |
0.883 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.021 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
35.787
|
2.987 |
3.113 |
|
|
Sundry Debtors |
43.968
|
47.417 |
35.223 |
|
|
Cash & Bank Balances |
7.528
|
1.105 |
0.676 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
3.567
|
11.253 |
0.155 |
|
Total
Current Assets |
90.850
|
62.762 |
39.167 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
52.199
|
34.868 |
20.560 |
|
|
Other Current Liabilities |
(0.367)
|
0.573 |
0.000 |
|
|
Provisions |
1.589
|
21.937 |
15.369 |
|
Total
Current Liabilities |
53.421
|
57.378 |
35.929 |
|
|
Net Current Assets |
37.429
|
5.384 |
3.238 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
38.478 |
6.366 |
4.121 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
158.210 |
49.033 |
|
|
|
Other Income |
|
0.591 |
0.085 |
|
|
|
TOTAL |
190.662 |
158.801 |
49.118 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
120.680 |
31.961 |
|
|
|
Direct Expenses |
|
17.167 |
13.920 |
|
|
|
Payment to and provisions for employees |
|
7.601 |
0.687 |
|
|
|
Administrative Expenses |
|
11.230 |
1.380 |
|
|
|
TOTAL |
185.705 |
156.678 |
47.948 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
[Including Depreciation] |
2.123 |
1.170 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
0.152 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
4.957 |
1.971 |
1.170 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.924 |
0.170 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
4.033 |
1.801 |
1.170 |
|
|
|
|
|
|
|
|
|
Less |
Deferred Tax Expenses |
0.000 |
0.010 |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2.929 |
1.138 |
(0.032) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
6.962 |
2.929 |
1.138 |
|
|
|
|
|
|
|
|
|
|
IMPORTS VALUE |
26.333 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
403.35 |
179.03 |
11.703 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.12
|
1.13 |
2.38 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
1.25 |
2.39 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.40
|
3.09 |
2.92 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.76
|
0.65 |
0.95 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
4.91
|
1.10 |
2.33 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.70
|
1.09 |
1.09 |
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
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 |
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 |
No |
|
Unsecured Loan |
Rs.
In Millions 31.03.2011 |
Rs.
In Millions 31.03.2010 |
|
Parvati Agarwal |
2.911 |
0.000 |
|
Micronova Electricals |
0.000 |
2.883 |
|
Sunita Agarwal |
0.186 |
0.445 |
|
Vikas Agarwal |
4.616 |
0.000 |
|
Vikas Agarwal HUF |
0.270 |
0.000 |
|
|
|
|
|
TOTAL |
7.983 |
3.328 |
OUTLOOK
The Company was
expecting to get involve in Wipro - UID and NIIT School Projects which cost to Rs. 60.000 Millions and it was also supposed to launched in the
month of December, 2010, but due
to delay in launching of government policy in this regard, it has launched in
the month of April, 2011 and the
Company is also having track on that
In addition to
above, the Directors would like to inform you that the Company is also trying
to get the tie-up arrangements with other business associates in India as well
as in abroad, which shall hopefully be in the better interest of the Company.
And such kind of tie-up arrangements is expected to ensure the improved
profitability in the future yean also.
Once again the
Company has demonstrated that the Company is leading on the right path, and
despite the changing-cum-challenging business environment, it has shown
improved results. The management is showing its optimistic vision towards the
future growth and development of the Company. The Company will also continue to
keep its keen eyes towards strict cost controls, improvement in better and
quality products.
FORM 8
|
Corporate
identity number of the company |
U31900PN2008PTC131272 |
|
Name of the
company |
PROSTAR MICRONOVA
POWER SYSTEMS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Sr. No.321, Patil Nagar, Bavdhan Budruk, Pune-411021, Maharashtra, India |
|
This form is for |
Modification of
charge |
|
Charge identification
number of the charge to be modified |
10272105 |
|
Type of charge |
|
|
Particular of
charge holder |
Axis Bank Limited, Business Square, Plot No.57, Mayur Colony, Next to Jog High School, Kothrud, Pune-411038, Maharashtra, India |
|
Nature of
instrument creating charge |
Supplemental Deed
of Hypothecation Accepted Sanction
Letter |
|
Date of
instrument Creating the charge |
06.03.2012 |
|
Amount secured by
the charge |
Rs. 48.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Axis Bank's Base
Rate + 4.00% i.e. Presently 14.00% payable monthly (Present Base Rate being
is 10.00%) As per sanction
letter or rate prescribed by Bank from time to time. Terms of repayment Repayable on
demand Margin 25% for Inventory
and 30 % for Book Debts below 90 days Receivables up to
90 days would be considered for DP Calculations. Extent and operation of the charge Total Exposure of
Rs. 48.000 Millions First Charge on
Hypothecated assets. The charge shall
continue till full repayment of Loan |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation of
: (C) All tangible movable machinery, plant and machinery,
fixtures, fittings, other installation, cranes, furniture, computers and
other accessories, vehicles together with spare tools and accessories and all
other articles lying at the premises of Borrower. (B) The whole of
the Borrower’s movable goods and assets, both present and future and
including but without prejudice to the generality of foregoing words, all
stocks of raw material, work in progress, semi finished goods and finished
goods such as Automobile parts and job works, packing materials, consumable
stores and spares where ever situated. © All the present
and future book debts, outstanding monies, receivables, claims, bills,
contracts, engagements and securities due and owing. |
|
Particulars of
the present modification |
The Axis Bank Limited
of Business Square, Plot No. 57, Mayur Colony, next to Jog High School,
Kothrud, Pune - 411038, Maharashtra, India, has agreed to enhanced the
existing credit facility limit from Rs. 35.500 Millions to Rs. 48.000 Millions i.e. Credit limit is
increased by Rs. 12.500 Millions Total Exposure -
Rs. 48.000 Millions |
FIXED ASSETS
- Motor Bike
- Computer
Systems
- Furniture and
Fixtures
- Printer and
Fax
- Sound Systems
- Air
Conditioner
- Water
Dispenser
- Mobile
Handset
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. 54.16 |
|
|
1 |
Rs. 81.74 |
|
Euro |
1 |
Rs. 70.50 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
32 |
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.