MIRA
INFORM REPORT
|
Report Date : |
19.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
GEMINI POWER HYDRAULICS PRIVATE LIMITED |
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Registered
Office : |
Gemini House, |
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|
Country : |
India |
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|
Financials (as
on) : |
31.03.2012 |
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|
Date of
Incorporation : |
23.05.1995 |
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|
|
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Com. Reg. No.: |
11-088698 |
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Capital
Investment / Paid-up Capital : |
Rs.10.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28900MH1995PTC088698 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMG05113D |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Authorised dealer of Hydraulic Equipments, Pneumatic Products, Spares and
Toolings, and Related Hardware. |
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|
No. of Employees
: |
140 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 340000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record.
Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. Note: Care has taken into consideration the exposure of the company to
foreign exchange fluctuation risk and the corporate guarantee provided by the
subject to a start-up group company. However, our analysis confirms that the company can be considered
normal for business dealings at usual trade terms. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 |
CARE |
|
Rating |
Long term bank facilities: BB |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
04.01.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities: A4 |
|
Rating Explanation |
Minimal degree of safety it carry very high credit risk. |
|
Date |
04.01.2013 |
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. Palaksh |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-668199999 |
|
Date : |
18.03.2013 |
LOCATIONS
|
Registered Office/ Head Office : |
Gemini House, |
|
Tel. No.: |
91-22-66819999 |
|
Fax No.: |
91-22-66819988 |
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E-Mail : |
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|
Website : |
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Warehouse : |
4 CMPSC Complex, Kalamboli Warehousing Corporation, Navi
Mumbai-410218, Maharashtra, India |
|
Tel. No.: |
91-22-27422473 / 65163073 / 27422473 |
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Overseas Office : |
Located at |
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Regional Office 1 : |
A179, Andheria Mode, Mehrauli Gurgaon Road, Opposite Vasant Kunj Red
Light, New Delhi-110030, India |
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Tel. No.: |
91-11-32319962 |
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|
|
|
Regional Office 2 : |
25, Hoppman IInd Street, Alandur, St. Thomas Mount, Chennai-600016,
Tamilnadu, India |
|
Tel. No.: |
91-44-28554768 |
|
Fax No.: |
91-44-28553121 |
DIRECTORS
As on 30.08.2012
|
Name : |
Mr. Rajiv Kishorechand Sethi |
|
Designation : |
Chairman |
|
Address : |
904 A, Sabari Aashiyana, Deonar Farm Road, Mumbai- 400088,
Maharashtra, India. |
|
Date of Birth/Age : |
15.06.1962 |
|
Date of Appointment : |
23.05.1995 |
|
DIN : |
00028309 |
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|
|
|
Name : |
Mrs. Sarika Rajiv Sethi |
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Designation : |
Director |
|
Address : |
904 A, Sabari Aashiyana, Deonar Farm Road, Mumbai- 400088,
Maharashtra, India. |
|
Date of Birth/Age : |
07.01.1967 |
|
Date of Appointment : |
23.05.1995 |
|
DIN : |
00028349 |
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|
|
|
Name : |
Mr. Kishorechand Dinanath Sethi |
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Designation : |
Director |
|
Address : |
Plot No. 418, D K Sandu Marg, Chembur, Mumbai- 400071, |
|
Date of Birth/Age : |
05.06.1935 |
|
Date of Appointment : |
03.10.2000 |
|
DIN : |
00028374 |
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|
|
|
Name : |
Mr. Charles Lawrence Miller III |
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Designation : |
Additional Director |
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Address : |
508, |
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Date of Birth/Age : |
20.07.1959 |
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Date of Appointment : |
03.09.2008 |
|
DIN : |
02316648 |
KEY EXECUTIVES
|
Name : |
Mr. Palaksh |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.08.2012
|
Names of Shareholders |
No. of Shares |
|
Rajiv Kishorechand Sethi |
999000 |
|
Sarika Rajiv Sethi |
1000 |
|
TOTAL |
1000000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.08.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Authorised dealer of Hydraulic Equipments, Pneumatic Products, Spares
and Toolings, and Related Hardware. |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers ·
Reliance Industries Limited ·
BHEL ·
Adani ·
Aditya Birla Group ·
Enercon India ·
Essar ·
Godrej ·
Jubilant Bhartia ·
Jaypee Group ·
TATA ·
Benett Coleman Company Limited |
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No. of Employees : |
140 (Approximately) |
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Bankers : |
Bank of Tel. No.: 91-22-25200353 |
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Facilities : |
Note Term loan from Bank is secured by hypothecation of plant and machinery, stock, book debts and specific vehicles and is additionally secured by: a) an equitable mortgage on freehold premises owned by Chairman of the company b) an equitable mortgage on residential property in the name of one of the directors of the company. c) Personal guarantees of two directors of the company. d) Pledge of directors personal deposits worth Rs.2.278 millions (Previous year Rs. 2.001 millions) Term loans from others are secured by hypothecation of vehicles. Term loans from Banks are repayable in monthly instalments over the next 24 months Term loans from others are repayable in monthly instalments over the next 36 months Loans repayable on demand from Banks are secured by hypothecation of stock, book debts and plant and machinery. The loan is further secured by extension of charge on the following assets: (which are offered as security for repayment of Long Term borrowings) a) an equitable mortgage on freehold premises owned by Chairman of the company b) an equitable mortgage on residential property in the name of one of the directors of the company. c) Personal guarantees of two directors of the company. d) Pledge of directors personal deposits worth Rs.2.278
millions (Previous year Rs. 2.001 millions) |
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Banking Relations
: |
-- |
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Auditors : |
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|
Name : |
Ramesh Lakshman and Company |
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Address : |
58-B, Gurudev, R.C. Marg, Chembur Naka, Chembur, Mumbai- 400071,
Maharashtra, India. |
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Tel. No.: |
91-22-25284588/ 25295949 |
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Fax No.: |
91-22-25278301 |
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E-Mail : |
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Website : |
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PAN : |
AACPL3714G |
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Enterprises over
which Key Management personnel exercise significant influence : |
§ Gemini Equipment and Rentals Private Limited § Gemini Foundation § Fagioli PSC India Private Limited § Rainbow Intertrade Pte Limited, Singapore § Gemini Marketing Services § Gemini Consolidated Projects Private Limited |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs. 10/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs. 10/- each |
Rs. 10.000 Millions |
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|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
10.000 |
10.000 |
10.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
74.761 |
59.468 |
54.498 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
84.761 |
69.468 |
64.498 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
46.153 |
38.383 |
5.882 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
46.153 |
38.383 |
5.882 |
|
|
DEFERRED TAX LIABILITIES |
1.659 |
2.211 |
1.736 |
|
|
|
|
|
|
|
|
TOTAL |
132.573 |
110.062 |
72.116 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
51.729 |
21.753 |
18.744 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.426 |
0.426 |
0.426 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
55.520
|
99.482 |
44.550
|
|
|
Sundry Debtors |
90.672
|
73.169 |
64.490
|
|
|
Cash & Bank Balances |
6.256
|
5.416 |
3.096
|
|
|
Other Current Assets |
0.017
|
0.000 |
0.000
|
|
|
Loans & Advances |
16.048
|
18.194 |
26.460
|
|
Total
Current Assets |
168.513
|
196.261 |
138.596 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
62.284
|
87.170 |
44.458
|
|
|
Other Current Liabilities |
18.958
|
19.530 |
16.014
|
|
|
Provisions |
6.853
|
1.678 |
25.178
|
|
Total
Current Liabilities |
88.095
|
108.378 |
85.650 |
|
|
Net Current Assets |
80.418
|
87.883 |
52.946 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
132.573 |
110.062 |
72.116 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
375.344 |
330.074 |
158.406 |
|
|
|
Other Income |
0.012 |
0.016 |
73.905 |
|
|
|
TOTAL (A) |
375.356 |
330.090 |
232.311 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of stock-in-trade |
200.369 |
263.855 |
|
|
|
|
Cost of Sales – Services |
27.775 |
20.039 |
202.070 |
|
|
|
Employee benefit expense |
39.564 |
45.325 |
|
|
|
|
Other expenses |
47.382 |
39.876 |
|
|
|
|
Changes in inventories of trading goods |
20.982 |
(52.517) |
|
|
|
|
TOTAL
(B) |
336.072 |
316.578 |
202.070 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
39.284 |
13.512 |
30.241 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
6.236 |
3.033 |
0.973 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
33.048 |
10.479 |
29.268 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
9.730 |
2.537 |
2.139 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
23.318 |
7.942 |
27.129 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
8.025 |
2.395 |
9.699 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
15.293 |
5.547 |
17.430 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
54.099 |
49.128 |
36.195 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
3.620 |
|
|
|
Proposed Dividend |
0.000 |
0.500 |
0.750 |
|
|
|
Corporate Tax on Dividend |
0.000 |
0.076 |
0.127 |
|
|
BALANCE CARRIED
TO THE B/S |
69.392 |
54.099 |
49.128 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Commission |
19.438 |
4.703 |
3.423 |
|
|
|
Miscellaneous Income |
0.500 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
19.938 |
4.703 |
3.423 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Trading Purchases |
73.655 |
109.870 |
40.969 |
|
|
|
Blot tightening and loosing accessories |
0.000 |
0.260 |
1.285 |
|
|
|
Capital Items |
0.758 |
0.047 |
0.000 |
|
|
|
Spare Parts |
0.000 |
0.249 |
0.127 |
|
|
TOTAL IMPORTS |
74.413 |
110.426 |
42.381 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
15.29 |
5.55 |
NA |
|
Expected Sales (2012-2013) : Above Rs. 400.000 Millions
The above information has been parted by Mr. Palaksh (Accounts
Department)
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
4.07
|
1.68
|
7.50 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.21
|
2.41
|
17.13 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.59
|
3.64
|
17.24 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28
|
0.11
|
0.42 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.54
|
0.55
|
0.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.91
|
1.81
|
1.62 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Trade Payable |
62.284
|
87.170 |
44.458 |
|
|
|
|
|
|
Total |
62.284
|
87.170 |
44.458 |
|
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 |
Yes |
|
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 |
Yes |
OPERATIONS
The Financial Year Ending 31st March, 2012 was a challenging year. The global economy, barely a year after recession, witnessed lower economic growth. Increase in interest rate coupled by higher Inventory resulted into increased in finance cost by whopping 100%. Indian economies witnessed tighten liquidity to tame rising inflation. Despite these challenges, the company performed reasonably well and highlights are as under:
Revenue from Operations increased by 13.7% to Rs. 375.356 millions
PBDIT increased by 190% to Rs.39.283 millions
Profit before tax increased by 194% to Rs. 23.318 millions
Profit after tax increased by 176% to Rs. 15.293 millions
FUTURE PROSPECTS:
The company is in process of getting into big ticket products such as Aerial work platform, which will help to improve bottom-line further.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U28900MH1995PTC088698 |
|
Name of the company |
GEMINI POWER HYDRAULICS PRIVATE LIMITED |
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Address of the registered office or of the principal place of business in India of the company |
Gemini House, Bus Depot Lane, Deonar, Mumbai- 400088, Maharashtra, India E-Mail: laxmi@geminiindia.com |
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This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
80023421 |
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Type of charge |
· Book debts · Movable property (not being pledge) · Floating charge |
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Particular of charge holder |
Bank of Baroda, Chembur Branch, Mumbai- 400071, Maharashtra, India Email: shirishshetye@gmail.com |
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Nature of instrument creating charge |
Composite Hypothecation Agreement. |
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Date of instrument Creating the charge |
17.10.2012 |
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Amount secured by the charge |
Rs. 90.000 Millions |
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Brief of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 5% over Base Rate of the bank i.e. presently @ 15.50% p.a. with monthly rests. Terms of Repayment On Demand. Margin 25%. Extent and Operation of the charge The charge is modified to secure the Line of Credit : Cash Credit, Inland Import LC (DA/DP 120 days usance) cum Buyers Credit for 120 days facility of Rs.65.000 millions and Bank Guarantee facility of Rs.25.000 millions, aggregating to Rs.90.000 millions together with interest, interest tax, further interest, additional interest, penal interest, commission fees, cost, charges and expenses incurred or to be incurred by the Bank till date of payment. Others The Company has executed Composite Hypothecation Agreement for overall facilities upto Rs.1110.670 millions and out of total facilities another separate Form 8 is filed to cover Rs.21.067 millions by modifying the Charge ID 10136776. |
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Short particulars of the property or asset(s) charged (including complete address and location of the property) |
Stocks, both present and future and all stocks of raw materials, work-in-process, semi-finished goods, finished goods such as Machineries, equipments, packing materials & stores, etc.. All the present and future book-debts, outstanding, monies receivable, claims, bills, contracts, engagements and securities, etc. All the tangible movable machinery and plant and cranes, boats and crafts and the vehicles together with spares, tools and accessories and other movables, both present and future, and the furniture, fixtures and fitting and office equipment whether installed or not and whether lying loose or in cases at Gemini House, Deonar, Mumbai and at Kalamboli, New Mumbai. |
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Date of instrument modifying the charge |
29.04.2011 |
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Particulars of the present modification |
The charge is increased upto Rs.90.000 millions to cover Line of Credit : Cash Credit, Inland Import LC (DA/DP 120 days usance) cum Buyers Credit for 120 days facility of Rs.65.000 millions (Increased from Rs.50.000 millions) and Bank Guarantee facility of Rs.25.000 millions (Increased from Rs.10.000 millions). |
CONTINGENT
LIABILITIES:
Contingent
Liabilities not provided for in respect of
(Rs. in millions)
|
PARTICULARS |
31.03.2012 |
|
Guarantees /Counter
guarantees given to banks for guarantees given by banks to other companies |
10.068 |
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Guarantees given
to bank for loans taken by Group company i.e. Gemini Consolidated Projects
Private Limited |
147.300 |
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Claims against the
company not acknowledged as debts |
|
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Income tax (see note (a)
below) |
1.002 |
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Indirect tax (see note (b)
below) |
1.892 |
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Total |
125.262 |
a. The company has received demands from the income tax authorities aggregating to Rs. 1.002 millions for various assessment years. This is majorly due to TDS credit not acknowledged by the Income tax department. However, the company is confident about getting the matter resolved and hence not acknowledged the same as debt.
b. The company has filed an appeal against the indirect tax demand and is confident of winning the same. Hence the demand is not acknowledged as debt.
FIXED ASSETS:
v
Tangible
Assets
§ Plant and Equipment
§ Office Equipment
§ Computers
§ Vehicles
§ Furniture and Fixtures
§ Electrical Fittings
v
Intangible
Assets
§ Goodwill
§ Tenancy Rights
§ Computer Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction registered
against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.29 |
|
|
1 |
Rs.81.94 |
|
Euro |
1 |
Rs.70.02 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
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|
|
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Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
|
|
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
|
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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DEFAULTER |
|
|
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--RBI |
YES/NO |
NO |
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--EPF |
YES/NO |
NO |
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TOTAL |
|
45 |
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 |
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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 |
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NB |
NEW BUSINESS |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.