|
Report Date : |
18.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
LOK PRAKASHAN LIMITED |
|
|
|
|
Registered
Office : |
Gujarat Samachar Bhavan, Khanpur, Ahmedabad – 380 001,
Gujarat |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
21.09.1940 |
|
|
|
|
Com. Reg. No.: |
04-000151 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.1.594 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U22190GJ1940PLC000151 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHML00258G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACL2742F |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Publication of Newspaper (Gujarat Samachar). |
|
|
|
|
No. of Employees
: |
600 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (66) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
USD 31995000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a well established and a reputed company having fine track
record. Financial position of the company appears to be sound. Fundamentals
are strong and healthy. Trade relations are reported as fair. Business is
active. Payments are reported to be regular and as per commitments. The company can be considered good for normal 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.
INDIAN ECONOMIC OVERVIEW
|
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.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Rajesh Gajjar |
|
Designation : |
H.R. Department |
|
Contact No.: |
91-79-30410000 |
|
Date : |
15.03.2013 |
LOCATIONS
|
Registered Office / Factory : |
Gujarat Samachar Bhavan, Khanpur, Ahmedabad – 380 001,
Gujarat, India |
|
Tel. No.: |
91-79-30410000/ 22304040/ 10/ 25508001/ 2/ 3/ 4/ 25504060 |
|
Fax No.: |
91-79-25502000/ 25504040 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
80000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Printing Press : |
Located at: · Khanpur – Ahmedabad · Ring Road – Surat ·
Lower Parel – Mumbai, Maharashtra, India |
|
|
|
|
Branch Office : |
Located at: · Vadodara · Surat ·
· Bhavnagar ·
Mumbai ·
·
Kolkata ·
Chennai ·
Hyderabad ·
Pune ·
Bangalore ·
Nagpur |
|
|
|
|
Overseas Office : |
3, |
|
Tel. No.: |
(732)-226-0263/
452-1755 |
|
Fax No.: |
(732)-226-0264/
452-1756 |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Bahubali Shantilal Shah |
|
Designation : |
Managing Director |
|
Address : |
Gujarat Samachar Bhavan, Khanpur, Ahmedabad – 380 001, Gujarat, India |
|
Date of Birth/Age : |
09.09.1951 |
|
Qualification : |
B. Com |
|
Experience : |
36 Years |
|
Date of Appointment : |
01.08.2010 |
|
DIN No.: |
00347465 |
|
PAN No.: |
AINPS8897E |
|
|
|
|
Name : |
Mrs. Smrutiben Shreyans Shah |
|
Designation : |
Managing Director |
|
Address : |
31, Anand Nagar Society Sarkhej Road, Paldi Ahmedabad – 380 007,
Gujarat, India |
|
Date of Birth/Age : |
10.06.1943 |
|
Qualification : |
B.A. |
|
Experience : |
44 Years |
|
Date of Appointment : |
01.08.2010 |
|
DIN No.: |
01320759 |
|
PAN No.: |
ACKPS9275P |
|
|
|
|
Name : |
Mr. Rajivbhai Chinubhai Lalbhai |
|
Designation : |
Director |
|
Address : |
Chinubhai Chimanlala Sheth Bunglow, Near Adeshwar Flat, Opposite
Shahibaug Police Chowky, Shahibaug, Ahmedabad – 380 004, Gujarat, India |
|
Date of Birth/Age : |
01.11.1952 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
27.10.2007 |
|
DIN No.: |
00309545 |
|
|
|
|
Name : |
Mr. Mahesh Jayantilal Shah |
|
Designation : |
Director |
|
Address : |
1002, Parth 7 Parnakunj, Near Ambawadi Circle, Ellisbridge, Ahmedabad
– 380 006, Gujarat, India |
|
Date of Birth/Age : |
15.08.1950 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
27.10.2007 |
|
DIN No.: |
00191844 |
KEY EXECUTIVES
|
Name : |
Mr. Rajesh Gajjar |
|
Designation : |
H.R. Department |
|
|
|
|
Name : |
Arvind D. Gaudana |
|
Designation : |
Practicing Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
MAJOR SHAREHOLDERS - NOT AVAILABLE
As on 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
7.00 |
|
Directors
or relatives of directors |
|
81.26 |
|
Others
|
|
11.74 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Publication of Newspaper (Gujarat Samachar). |
||||||
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|
|
||||||
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Products : |
|
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|
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Imports : |
|
||||||
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Products : |
·
Raw Materials |
||||||
|
Countries : |
·
Hong Kong ·
China |
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|
|
||||||
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Terms : |
|
||||||
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Selling : |
Cash and Credit |
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|
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
|
|
|
|
No. of Employees : |
600 (Approximately) |
|
|
|
|
Bankers : |
·
Bank of Baroda, Bhadra Branch, Ahmedabad, Gujarat, India ·
HDFC Bank Limited, Navrangpura Branch ·
State Bank of |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sorab S. Engineer and Company Chartered Accountants |
|
Address : |
381, Ismail Building, Dr. D.N. Road, Fort, Mumbai – 400 001,
Maharashtra, India |
|
PAN No.: |
AAAFS5191E |
|
|
|
|
Enterprises which are owned, or have significant influence
of or are partners with Key management personnel and their relatives |
·
Gujarat Samachar Inc, United States ·
Amrut Investments, India |
CAPITAL STRUCTURE
As on 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.200/- each |
Rs.2.000 Millions |
|
|
|
|
|
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.200/- each |
Rs.2.000 Millions |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7969 |
Equity Shares |
Rs.200/- each |
Rs.1.594 Millions |
|
|
|
|
|
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 |
1.594 |
1.594 |
1.594 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
7997.055 |
7005.134 |
6026.330 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
7998.649 |
7006.728 |
6027.924 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
7998.649 |
7006.728 |
6027.924 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
805.920 |
300.142 |
205.863 |
|
|
Capital work-in-progress |
46.998 |
57.680 |
76.604 |
|
|
|
|
|
|
|
|
INVESTMENT |
4488.089 |
3339.043 |
4223.451 |
|
|
DEFERRED TAX ASSETS |
16.681 |
21.139 |
25.807 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
811.375
|
991.537
|
471.433
|
|
|
Sundry Debtors |
643.596
|
607.811
|
511.192
|
|
|
Cash & Bank Balances |
977.003
|
1075.505
|
1020.819
|
|
|
Other Current Assets |
24.142
|
1249.291
|
34.077
|
|
|
Loans & Advances |
1134.869
|
846.380
|
1930.974
|
|
Total
Current Assets |
3590.985
|
4770.524
|
3968.495 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
643.487
|
1207.412
|
650.152 |
|
|
Other Current Liabilities |
237.855
|
208.546
|
231.313 |
|
|
Provisions |
68.682
|
65.842
|
1590.831
|
|
Total
Current Liabilities |
950.024
|
1481.800
|
2472.296
|
|
|
Net Current Assets |
2640.961
|
3288.724
|
1496.199
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
7998.649 |
7006.728 |
6027.924 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
3826.710 |
3514.677 |
3480.982 |
|
|
|
Other Income |
493.129 |
343.226 |
364.648 |
|
|
|
TOTAL (A) |
4319.839 |
3857.903 |
3845.630 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
2105.420 |
1776.888 |
|
|
|
|
Purchases of stock-in-trade |
0.000 |
20.196 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
2105.420 |
1776.888 |
|
|
|
|
Employee benefit expense |
107.122 |
95.439 |
|
|
|
|
Other expenses |
597.477 |
498.388 |
|
|
|
|
TOTAL (B) |
4915.439 |
4167.799 |
2614.750 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(595.600) |
(309.896) |
1230.880 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
8.955 |
0.671 |
0.488 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(604.555) |
(310.567) |
1230.392 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
52.587 |
41.108 |
37.333 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(657.142) |
(351.675) |
1193.059 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
417.458 |
410.168 |
363.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(1074.600) |
(761.843) |
829.559 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
33.165 |
37.058 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
NA |
NA |
28.688 |
|
|
|
Tax on Dividend |
NA |
NA |
4.764 |
|
|
|
Transfer to General Reserve |
NA |
NA |
800.000 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
33.165 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
1850.717 |
|
|
|
|
|
Capital Goods |
5.133 |
|
|
|
|
|
Stores & Spares |
3.121 |
|
|
|
|
TOTAL IMPORTS |
1858.971 |
2099.533 |
986.920 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(129354.00) |
(127374.00) |
104098.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(24.88)
|
(1975)
|
21.57
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(17.17)
|
(10.01)
|
34.27
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(14.95)
|
(6.94)
|
28.58
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.08)
|
(0.05)
|
0.20
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.00
|
0.00
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.78
|
3.22
|
1.61
|
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2012 (Rs. in millions) |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
|
Sundry Creditors |
643.487
|
1207.412
|
650.152 |
|
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 |
Yes |
|
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 |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if
applicable) |
Yes |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter
involved in |
Yes |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
No |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
|
31)
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32)
PAN of Proprietor/Partner/Director, if available |
Yes |
|
33)
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34)
External Agency Rating, if available |
No |
LITIGATION
DETAILS:
|
HIGH COURT OF
GUJARAT TAX APPEAL No.
789 of 2011 To TAX APPEAL No. 793 of 2011 |
||||||||||||||
|
Status: PENDING
(Converted from:
ST/1476/2011) CCIN
No:001092201100789 Last Listing Date: 05/07/2012 Coram: HONOURABLE
MR. JUSTICE VIJAY MANOHAR SAHAI
HONOURABLE MR. JUSTICE N.V. ANJARIA |
||||||||||||||
|
S.NO. |
Name of the
Petitioner |
Advocate On
Record |
||||||||||||
|
1 |
COMMISIONER OF INCOME TAX |
MRS MAUNA M BHATT for: Applicant (s) - 1 |
||||||||||||
|
S.NO. |
Name of the
Respondent |
Advocate On
Record |
||||||||||||
|
1 |
LOK PRAKASHAN LIMITED |
MR B S SOPARKAR for : Opponent(s) - 1 |
||||||||||||
|
Presented On : 13/04/2011 Registered
On : 13/04/2011 Bench Category : DIVISION BENCH District : AHMEDABAD Case Originated From: THROUGH ADVOCATE Listed : 2 times Stage Name : FOR REGULAR ADMISSION (SPL.)
Classification DB – OJ – TAX APPEAL – INCOME TAX ACT, 1961 – APPEAL TO HIGH COURT –
U/S 260 OF IT ACT - LONG
TERM CAPITAL GAIN – U/S 54EA
Act
INCOME-TAX ACT, 1961 |
||||||||||||||
|
Office Details |
||||||||||||||
|
S. No |
Filing Date |
Document Name |
Advocate Name |
Court Fee on
Document |
Document Details |
|||||||||
|
1 |
13/04/2011 |
CERTIFIED COPY |
MRS MAUNA BHATT ADVOCATE for
PETITIONER(s) - 1 |
6 |
- |
|||||||||
|
2 |
13/04/2011 |
MEMO OF APPEAL/ PETITION/ SUIT |
MRS MAUNA BHATT ADVOCATE for
PETITIONER(s) - 1 |
20 |
- |
|||||||||
|
3 |
21/08/2012 |
VAKALATNAMA |
MR B S SOPARKAR ADVOCATE for
RESPONDENT(s) - 1 |
5 |
- |
|||||||||
|
Court
Proceedings |
||||||||||||||
|
Notified Date |
Court Code |
Board Sr. No. |
Stage |
Action |
Coram |
|||||||||
|
04/07/2012 |
3 |
-- |
For ADMISSION TAXATION MATTERS BOARD NO. I |
Next Date |
HONOURABLE MR. JUSTICE VIJAY MANOHAR SAHAI HONOURABLE MR. JUSTICE N.V. ANJARIA |
|||||||||
|
05/07/2012 |
3 |
-- |
FOR REGULAR ADMISSION (SPL.) |
FIXED RULE/ ADMIT |
HONOURABLE MR. JUSTICE VIJAY MANOHAR SAHAI HONOURABLE MR. JUSTICE N.V. ANJARIA |
|||||||||
|
Available Orders
|
||||||||||||||
|
S. No. |
Case Details |
Judge Name |
Order Date |
CAV |
Judgment |
|||||||||
|
1 |
Tax Appeal/789/2011 |
HONOURABLE MR. JUSTICE VIJAY MANOHAR SAHAI HONOURABLE MR. JUSTICE N.V. ANJARIA |
05/07/2012 |
N |
N |
|||||||||
|
Certified Copy |
||||||||||||||
|
Applicant Name |
Applicant Type |
Application Date
|
UOL Number |
Order Date |
Notify Date |
Delivery date |
Status |
Nature of
Document |
||||||
|
MRS MAUNA M. BHATT |
Ordinary |
06/07/2012 |
O/21012/2012 |
05/07/2012 |
09/07/2012 |
10/07/2012 |
Delivered |
-- |
||||||
COMPANY BACKGROUND:
The Company is in
the business of publishing newspapers. The Company’s Product “Gujarat Samachar”
is the largest read Gujarati language daily newspaper in India. Presently, the
Company distributes editions from Ahmedabad, Vadodara, Surat, Rajkot,
Bhavnagar, Mumbai, Mehsana and Bhuj. The Company derives its revenue mainly
from the sale of these publications and advertisements published in the
publications.
OPERATIONAL
PERFORMANCE:
The Company has
received income of Rs.932.133 millions (Previous Year Rs.872.367 millions) from
Sales and Subscription, Rs.2841.719 millions (Previous Year Rs.3244.624
millions) from Advertisements and Rs.545.987 millions (previous year Rs.386.352
millions) towards other income, which includes Interest, Dividends and others.
Company has achieved total income of Rs.4319.839 millions as against total
income of previous year Rs.3858.102 millions. Thus, Company has tremendous
growth record.
The Company is
Deploying its surplus fund into investment in Primary Market and Secondary
Market including Bonds and Mutual Fund. Further investment has been made in
Land, Plant and Machinery, Gold and others also.
FIXED ASSETS:
·
·
Building
·
Plant and Machinery
·
Electric Fittings
·
Office Equipment
·
Furniture and Fixture
·
Library
·
Vehicles
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 records 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
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
66 |
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.