MIRA INFORM REPORT
|
Report Date : |
20.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
EXPRESS PUBLICATIONS (MADURAI) LIMITED |
|
|
|
|
Formerly Known
As : |
INDIAN EXPRESS (MADURAI) LIMITED |
|
|
|
|
Registered
Office : |
No.29, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
11.04.1959 |
|
|
|
|
Com. Reg. No.: |
18-003776 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 180.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U22121TN1959PLC003776 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CMBE03024A / CMBE03150A / MRIE00260B |
|
|
|
|
Legal Form : |
A Cosely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Newspaper and Magazine Publishers. |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 5200000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a subsidiary of ‘Siddharth Media Holdings Private Limited’.
It is an old and established company having a moderate track record. It has been incurring loss from its operation since some years. However, business is active. Payment terms are slow. The company can be considered for business dealings with great
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
D (Term Loan) |
|
Rating Explanation |
Default |
|
Date |
August 13, 2012 |
|
Rating Agency Name |
ICRA |
|
Rating |
D (Short Term Non Fund Based Facilities) |
|
Rating Explanation |
Default |
|
Date |
August 13, 2012 |
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: |
No.29, |
|
Tel. No.: |
91-44-23457503 / 601 / 607 |
|
Fax No.: |
91-44-23457619 /516 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 26.12.2012
|
Name : |
Mr. Manoj Kumar Sonthalia |
|
Designation : |
Managing Director |
|
Address : |
43, |
|
Date of Birth/Age : |
16.09.1957 |
|
Qualification: |
B.Com |
|
Date of Appointment : |
19.03.1999 |
|
DIN No.: |
00021297 |
|
|
|
|
Name : |
Mr. |
|
Designation : |
Director |
|
Address : |
6 A, Dr. Rajendra Prasad Sarani, Kolkata – 700 001, West |
|
Date of Birth/Age : |
12.01.1937 |
|
Date of Appointment : |
08.01.2003 |
|
DIN No.: |
00636064 |
|
|
|
|
Name : |
Mr. Shiv Shankar Poddar |
|
Designation : |
Director |
|
Address : |
No.8, Numgambakkam, High Road, Chennai – 600 034, |
|
Date of Birth/Age : |
10.09.1949 |
|
Date of Appointment : |
08.01.2003 |
|
DIN No.: |
00058025 |
|
|
|
|
Name : |
Mr. Thayil Jacob Sony George |
|
Designation : |
Director |
|
Address : |
166 A, Rajmahal Vilas, Bangalore – 560 080, Karnataka, India |
|
Date of Birth/Age : |
07.05.1928 |
|
Date of Appointment : |
29.04.2003 |
|
DIN No.: |
00040022 |
|
|
|
|
Name : |
Mr. Sreekumar Karunakaran |
|
Designation : |
Director |
|
Address : |
No. 38/1963, Plakkat Colony, |
|
Date of Birth/Age : |
27.11.1957 |
|
Date of Appointment : |
22.04.2010 |
|
DIN No.: |
00335407 |
KEY EXECUTIVES
|
Name : |
Mr. Tenkasi Krishna Sastrigal Bhgiratharama Venkataraman |
|
Designation : |
Company Secretary |
|
Address : |
41, Sapthagiri Colony, Jaffar Khan Pet, Chennai – 600 083, |
|
Date of Birth/Age : |
15.07.1932 |
|
Date of Appointment : |
15.04.1992 |
|
PAN No.: |
AAGPV1075L |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 26.12.2012
|
Names of Shareholders |
|
No. of Shares |
|
Siddharth Media Holdings Private Limited (India) |
|
1799994 |
|
Manoj Kumar Sonthalia |
|
1 |
|
Kalpana Sonthalia |
|
1 |
|
Siddhartha Sonthalia |
|
1 |
|
R K Jhunjhunwala |
|
1 |
|
Sathi Suresh |
|
1 |
|
N. Gopalan |
|
1 |
|
Total |
|
1800000 |
Equity Share Break up (Percentage of Total Equity)
As on 26.12.2012
|
Category |
Percentage |
|
Bodies corporate |
99.96 |
|
Directors or relatives of Directors |
0.02 |
|
Other top fifty shareholders |
0.02 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Newspaper and Magazine Publishers. |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS AS ON 31.03.2012
|
Particulars |
Unit |
Actual
Production |
|
Pages of standard size of (56*35 cms) |
Nos |
4945.565 |
|
Particulars |
Installed
Capacity |
|
CHENNAI |
|
|
HILLINE I (6 Y Units+1 Tower+1 Folder) |
42000 |
|
HILLINE II (3 I Units+1 Tower+1 Folder) |
42000 |
|
MITSUBISHI |
|
|
(4 Print Units+1 Folder) |
16000 |
|
MADURAI |
|
|
Orient Web Offset (6 Units (5 H units+1 colour)+ 1 Folders) |
18000 |
|
COIMBATORE |
|
|
Prima 35 – I (2 H Units+2 Tower+1 Folder) |
30000 |
|
Prima 35 – II (2 H Units+3 Tower+1 Folder) |
30000 |
|
BANGALORE |
|
|
Coreset Offset (7 Units ( 4 Y units+ 3 I units)+ 1 Folder) |
30000 |
|
Orient Web Offset (8 Units (3 colour+ 5 H units)+ 1 Folder) |
18000 |
|
MANGALORE |
|
|
Orient Web Offset (6 Units (5 H units+1 colour)+ 1 Folder) |
18000 |
|
KOCHI |
|
|
Orient Web Offset (7 Units (5 H units+2 colour)+ 1 Folder) |
20000 |
|
KOZHIKODE |
|
|
Orient Web Offset (6 Units (5 H units+1 colour)+ 1 Folder) |
18000 |
|
BHUBANESHWAR |
|
|
Orient Web Offset (5 Units (5 H units+1 colour)+ 1 Tower+1 Folder) |
18000 |
GENERAL INFORMATION
|
No. of Employees : |
100 (Approximately) |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
Horbour Branch, No. 66, Rajaji salai, Chennai – 600 001, Tamilnadu,
India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Financial Institutions : |
Elgi House, Trichy Road, Coimbatore, Tamilnadu, India |
||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Swami and Moorthy Chartered Accountants |
|
Address : |
2,B Deshmaa Green
Park, Near BSNL Tower, Subha Shree Nagar Extension Phase I, Mugalivakkam,
Porur, Chennai - 600 125, Tamilnadu, India |
|
PAN No.: |
AADPR2657P |
|
|
|
|
Holding Company : |
Siddharth Media Holdings Private Limited (CIN NO U22121TN1959PTC046416) |
|
|
|
|
Wholly Owned
Subsidiary: |
Express Network Private Limited CIN No.: U22219TN1999PTC048505 Express Publications (Chennai) Limited CIN No.: U22121TN2001PLC048000 Dinamani Publications Limited CIN No.: U22121TN1970PLC005916 Express News Service Private Limited CIN No.: U22219TN1999PTC048506 |
CAPITAL STRUCTURE
As on 26.12.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1800000 |
Equity Shares |
Rs.100/- each |
Rs. 180.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1800000 |
Equity Shares |
Rs.100/- each |
Rs. 180.000 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 |
180.000 |
180.000 |
180.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1120.884 |
1165.776 |
1992.084 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(786.346) |
|
|
NETWORTH |
1300.884 |
1345.776 |
1385.738 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
616.476 |
594.675 |
651.553 |
|
|
2] Unsecured Loans |
787.163 |
642.557 |
673.091 |
|
|
TOTAL BORROWING |
1403.639 |
1237.232 |
1324.644 |
|
|
DEFERRED TAX LIABILITIES |
105.377 |
105.376 |
119.951 |
|
|
|
|
|
|
|
|
TOTAL |
2809.900 |
2688.384 |
2830.333 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2051.950 |
2069.633 |
2004.987 |
|
|
Capital work-in-progress |
0.621 |
0.639 |
1.084 |
|
|
|
|
|
|
|
|
INVESTMENT |
326.554 |
326.554 |
326.867 |
|
|
DEFERREX TAX ASSETS |
36.636 |
36.636 |
74.985 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
103.376
|
67.187 |
117.217
|
|
|
Sundry Debtors |
570.697
|
525.748 |
489.044
|
|
|
Cash & Bank Balances |
111.999
|
132.803 |
387.822
|
|
|
Other Current Assets |
6.834
|
0.000 |
0.000
|
|
|
Loans & Advances |
421.606
|
283.886 |
182.497
|
|
Total
Current Assets |
1214.512
|
1009.624 |
1176.58 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
395.363
|
574.079 |
533.142
|
|
|
Other Current Liabilities |
325.597
|
81.208 |
100.207
|
|
|
Provisions |
99.413
|
99.415 |
120.821
|
|
Total
Current Liabilities |
820.373
|
754.702 |
754.170 |
|
|
Net Current Assets |
394.139
|
254.922 |
422.400 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2809.900 |
2688.384 |
2830.333 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
N.A |
1860.662 |
1942.330 |
|
|
|
Other Income |
N.A |
217.856 |
329.308 |
|
|
|
TOTAL |
N.A |
2078.518 |
2271.638 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption Material Changes Inventories |
|
774.894 |
817.131 |
|
|
|
Manufacturer Service Cots |
|
190.214 |
200.584 |
|
|
|
Employee Related Expenses |
|
234.204 |
227.759 |
|
|
|
Administrative Selling Other Expenses |
|
668.096 |
588.952 |
|
|
|
TOTAL |
N.A |
1867.408 |
1834.426 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) |
N.A |
211.110 |
437.212 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
N.A |
170.604 |
47.640 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION
(C-D) (E) |
12.558 |
40.506 |
389.572 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
57.449 |
53.580 |
178.593 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE TAX (E-F) (G) |
(44.891) |
(13.074) |
210.979 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
26.888 |
61.891 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) AFTER TAX (G-H) (I) |
(44.891) |
(39.962) |
149.088 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(869.608) |
(786.346) |
(890.434) |
|
|
|
|
|
|
|
|
|
Add |
Foreign Currency
Monetary Item Translation Difference A/c |
N.A |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
Deferred Tax
Liability (Net) |
N.A |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to Debenture Redemption Reserve
Account |
N.A |
43.300 |
45.000 |
|
|
BALANCE CARRIED
TO THE B/S |
N.A |
(869.608) |
(786.346) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Advertisement Revenue |
N.A |
NA |
0.016 |
|
|
TOTAL EARNINGS |
N.A |
NA |
0.016 |
|
|
|
|
|
|
|
|
|
|
VALUE OF IMPORTS |
667.186 |
676.313 |
335.916 |
|
|
|
|
|
|
|
|
|
|
Earnings/(Loss)
Per Share (Rs.) |
N.A |
(22.20) |
NA |
|
%20LIMITED-210928%2020-Mar-2013_files/image001.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
N.A
|
0.95 |
6.56
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
N.A
|
N.A |
10.86
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.37)
|
(0.42) |
17.93
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(90.03)
|
(0.01) |
0.15
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.08
|
0.92 |
1.50
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.48
|
1.34 |
1.56
|
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 |
Yes |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last two 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 |
Yes |
|
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 |
Note:
The situation of the registered office has been shifted from Express Estates,
Anna Salai, Chennai – 600 002, Tamilnadu to the present address w.e.f.
02.07.2006.
DETAILS OF LITIGATION :
|
Case status : |
Pending |
|
Status Of : |
WRIT PETITION |
|
Case No : |
18794 |
|
Year : |
2012 |
|
Petitioner : |
The Regional Provident Fund |
|
Respondent : |
Express Publication (Madurai) |
|
Pet’s Advocate : |
Mr. K. Ramu |
|
Res’s advocate : |
M/S. S. Vijay Araghavan |
|
Category: |
Labour |
|
Case Updated on : |
September 14, 2012 |
CONTINGENT LIABILITIES NOT PROVIDED FOR: (AS ON
31.03.2012)
i) Claims against
the company not acknowledged as debts Rs.237.000 Millions
ii) In respect of
defamation suits filed against the company - Amounts not ascertainable.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U22121TN1959PLC003776 |
|
Name of the
company |
EXPRESS
PUBLICATIONS (MADURAI) LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
No.29, II Main
Road, Industrial Estate, Ambattur, Chennai – 600 058, Tamilnadu, India Email: tkb@newindianexpress.com |
|
This form is for
|
Modification of
charge |
|
Charge identification
(ID) number of the charge to be modified |
10023967 |
|
Type of charge |
Immovable
property Any interest in
immovable property Movable property
(not being pledge) Rentals
Receivables from Bangalore and Kochi Property |
|
Particular of
charge holder |
Indian Bank Harbour Branch,
No.66, Rajaji Salai, Chennai – 600 001, Tamilnadu, India E-Mail: crm3harbour@gmail.com
|
|
Nature of
instrument creating charge |
Fresh Term Loan Agreement
dated 29.12.2011 for a sum of Rs. 18.000 Millions |
|
Date of
instrument Creating the charge |
29.11.2011 |
|
Amount secured
by the charge |
Rs. 268.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest
BR+TP(1.00%)+3%(Presently
14.75%) Terms of
Repayment 60 monthly installments with monthly interest without holiday period Margin 25% against the securities hypothecated/pledged. Extent and
Operation of the charge No: 36, "EXPRESS HOUSE" of Kochi corporation in S. No :
338/2 and 5 and 339/1 and 2, Ernakulam Village, Kaloor, Kochi- 6820127 |
|
Short
particulars of the property or asset(s) charged (including complete address
and location of the property) |
No: 36,
"EXPRESS HOUSE" of Kochi corporation in S. No : 338/2 and 5 and
339/1 and 2, Ernakulam Village, Kaloor, Kochi- 6820127 Hypothecations
of Computers and Electronic Equipments, Electrical Machinery, Furniture and
Plant and Machinery |
|
Date of
instrument modifying the charge |
06.07.2011 |
|
Particulars of
the present modification |
The Overall
credit has been revised from 250.000 Millions
to 268.000 Millions |
UNSECURED LOAN :
|
Particulars |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Rupee Term Loans from Others |
33.500 |
33.500 |
|
Public Deposits |
582.862 |
609.057 |
|
Loans and Advances from Related Parties |
92.938 |
0.000 |
|
Other Loans and Advances |
77.863 |
0.000 |
|
Total |
787.163 |
642.557 |
FIXED ASSETS :
- Goodwill
- Land
- Land and Building at
- Buildings
- Publication Title Rights
- Plant and Machinery and Office Equipment
- Furniture and Fixtures
- Vehicles
- Library
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 : |
RSMK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
2 |
|
--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 |
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 |
|
30 |
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.