|
Report Date : |
20.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
HOME AUTOMATION ( |
|
|
|
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Registered
Office : |
3, 1st Floor, Savita Vihar, New Delhi – 110092, Delhi |
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Country : |
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Financials (as
on) : |
31.03.2009 |
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Date of
Incorporation : |
02.07.2002 |
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Com. Reg. No.: |
55-116040 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100
Million |
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|
|
|
CIN No.: [Company Identification
No.] |
U31909DL2002PTC116040 |
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|
|
|
PAN No.: [Permanent Account No.] |
AABCH2523B |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Importer and Exporter of Electrical Products. |
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No. of Employees
: |
100 Approximately |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (14) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a company having a moderate track record. The management of
the company has not filed its financials with the government department since
2009. Mr. Manikant Sharma, Director has provided general information but
denied to disclose any financial detail to us. As per old record (2009), the financial strength of the company
appeared to be weak. However, business is active. Payment terms are unknown. The company can be considered for business dealings on a safe and secured
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including industrial
deregulation, privatization of state-owned enterprises, and reduced controls on
foreign trade and investment, began in the early 1990s and has served to
accelerate the country's growth, which has averaged more than 7% per year since
1997. India's diverse economy encompasses traditional village farming, modern
agriculture, handicrafts, a wide range of modern industries, and a multitude of
services. Slightly more than half of the work force is in agriculture, but
services are the major source of economic growth, accounting for more than half
of India's output, with only one-third of its labor force. India has
capitalized on its large educated English-speaking population to become a major
exporter of information technology services and software workers. In 2010, the
Indian economy rebounded robustly from the global financial crisis - in large
part because of strong domestic demand - and growth exceeded 8% year-on-year in
real terms. However, India's economic growth in 2011 slowed because of persistently
high inflation and interest rates and little progress on economic reforms. High
international crude prices have exacerbated the government's fuel subsidy
expenditures contributing to a higher fiscal deficit, and a worsening current
account deficit. Little economic reform took place in 2011 largely due to
corruption scandals that have slowed legislative work. India's medium-term
growth outlook is positive due to a young population and corresponding low
dependency ratio, healthy savings and investment rates, and increasing
integration into the global economy. India has many long-term challenges that
it has not yet fully addressed, including widespread poverty, inadequate
physical and social infrastructure, limited non-agricultural employment
opportunities, scarce access to quality basic and higher education, and
accommodating rural-to-urban migration.
|
Source
: CIA |
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 INFORMATION)
|
Name : |
Mr. Manikant Sharma |
|
Designation : |
Director |
|
Contact No.: |
91-9810412337 |
|
Date : |
27.02.2013 |
LOCATIONS
|
Registered Office : |
3, 1st Floor, Savita Vihar, New Delhi – 110092, Delhi,
India |
|
Tel No.: |
Not Available |
|
Mobile No.: |
91-9810412337 (Mr. Manikant Sharma) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
2000 Sq. Ft. |
|
Location : |
Owned |
|
|
|
|
Factory : |
D – 10, Sector – B – 3, |
|
Tel. No.: |
91-120-2696072 |
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Fax No.: |
91-120-2696072 |
|
Area : |
1500 Sq. Ft |
|
Location : |
Owned |
DIRECTORS
As On: 30.09.2009
|
Name : |
Mrs. Lata Sharma |
|
Designation : |
Director |
|
Address : |
383/8, East Azad Nagar, |
|
Date of Birth/Age : |
04.08.1965 |
|
Date of Appointment : |
30.01.2009 |
|
DIN No.: |
02532276 |
|
|
|
|
Name : |
Mr. Jugal Kishor Sharma |
|
Designation : |
Director |
|
Address : |
383/8, East Azad Nagar, Delhi – 110051, India |
|
Date of Birth/Age : |
17.05.1968 |
|
Date of Appointment : |
12.02.2010 |
|
DIN No.: |
02532244 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2009
|
Names of Shareholders |
|
No. of Shares |
|
Manikant Sharma |
|
1000 |
|
Lata Sharma |
|
9000 |
|
Total |
|
10000 |
List of Allottees
As on 20.10.2009
|
Names of Allottees |
|
No. of Shares
Allotted |
|
Manikant Sharma |
|
20000 |
|
Lata Sharma |
|
10000 |
|
Total |
|
30000 |
AS ON 30.09.2009
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Importer and Exporter of Electrical Products. |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash, Credit 30-60 Days |
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Purchasing : |
L/C, Cash, Credit 30-60 Days |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesaler, Retailers and OEM’s
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No. of Employees : |
100 (Approximately) |
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Bankers : |
Bank of India, Jhandewalan, New Delhi-110005, Delhi, India Tel No.: 91-11-23513789 |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
GSK and Associates Chartered Accountant |
|
Address : |
8, 1st Floor, Rani Jhansi Road, Motia Khan Industrial Area,
New Delhi-110055, Delhi, India |
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|
|
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Sister Concern : |
Market Electronic, New Delhi, India Line of
Business: Manufacturer, Importer and Exporter of Electrical Products. Address : 3, 1st Floor,
Savita Vihar, New Delhi – 110092, Delhi, India |
CAPITAL STRUCTURE
After 20.10.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.500 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000 |
Equity Shares |
Rs. 10/- each |
Rs.0.400
Million |
|
|
|
|
|
As On: 31.03.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.500 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.100
million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
0.100 |
0.100 |
|
|
2] Share Application Money |
|
2.624 |
2.624 |
|
|
3] Reserves & Surplus |
|
0.009 |
0.093 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
2.733 |
2.817 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
4.866 |
4.771 |
|
|
2] Unsecured Loans |
|
2.796 |
2.212 |
|
|
TOTAL BORROWING |
|
7.662 |
6.983 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
10.395 |
9.800 |
|
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|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
4.639 |
4.823 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
3.586 |
3.911 |
|
|
Sundry Debtors |
|
1.476 |
0.856 |
|
|
Cash & Bank Balances |
|
0.716 |
0.168 |
|
|
Other Current Assets |
|
0.331 |
0.327 |
|
|
Loans & Advances |
|
1.453 |
0.125 |
|
Total
Current Assets |
|
7.562 |
5.387 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
0.041
|
0.248 |
|
|
Other Current Liabilities |
|
1.779 |
0.179 |
|
|
Provisions |
|
0.001 |
0.001 |
|
Total
Current Liabilities |
|
1.821 |
0.428 |
|
|
Net Current Assets |
|
5.741 |
4.959 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.015 |
0.018 |
|
|
|
|
|
|
|
|
TOTAL |
|
10.395 |
9.800 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
1.711 |
1.219 |
|
|
|
Other Income |
|
0.392 |
0.478 |
|
|
|
TOTAL (A) |
|
2.103 |
1.697 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing Expenses |
|
1.048 |
0.830 |
|
|
|
Administrative Expenses |
|
0.171 |
0.166 |
|
|
|
TOTAL (B) |
|
1.219 |
0.996 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
0.884 |
0.701 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
0.783 |
0.555 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
0.101 |
0.146 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
0.185 |
0.185 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
(0.084) |
(0.039) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
0.000 |
0.001 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
(0.084) |
(0.040) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
(0.084) |
(0.040) |
|
|
Particulars |
|
31.03.2011 |
31.03.2010 |
|
Sales Turnover (Approximately) |
|
30.000 |
20.000 |
The above information has been parted by Mr. Manikant Sharma
Note:
Subject was started as a Consultancy Firm but they had started its Manufacturing
Activity from 2010.
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
|
(3.99) |
(2.36) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
(4.91) |
(3.20) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
(0.69) |
(0.38) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
(0.03) |
(0.01) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
3.47 |
2.63 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
4.15 |
12.59 |
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 |
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 two 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 |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
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 |
DETAILS UNSECURED
LOAN
(Rs.
In Millions)
|
Particulars |
31.03.2009 |
31.03.2008 |
|
From Directors and Relatives |
2.796 |
2.212 |
|
Total |
2.796 |
2.212 |
FINANCIAL RESULT:
The Company
effected a gross turnover of Rs.2.103 millions during the current year and
suffered loss of Rs. 0.084 million after providing depreciation of Rs. 0.185
million as against turnover of Rs. 1.697 millions in the previous year and
suffered loss of Rs. 0.040 million after providing depreciation of Rs. 0.185
million.
FORM 8
|
Corporate
identity number of the company |
U31909DL2002PTC116040 |
|
Name of the
company |
HOME
AUTOMATION (INDIA) PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
3, 1st Floor, Savita Vihar, New Delhi – 110092, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Movable property (not being pledge) Floating charge |
|
Particular of
charge holder |
Bank of India, Jhandewalan, New Delhi-110005, Delhi, India |
|
Nature of
instrument creating charge |
Hypothecation
cum loan Agreement dated 05.02.2010 |
|
Date of
instrument Creating the charge |
05.02.2010 |
|
Amount secured by
the charge |
Rs.2.000 millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest 12.25%
p.a. Terms of
repayment On Demand Margin 25% Extent and
operation of the charge 100% Other The Above
is to secure the Cash Credit (Hypothecation of Stock) of Rs. 2.000 millions
together with interest, costs, expenses, interest etc. |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation
of Stock and all tangible movable machineries and plants both present and
future whether installed of not and whether lying loose or at site or in
transit or acquired subsequently hereunder written or which may at any time
during the continuance of this security being installed or lying loose or in
cases or being in or upon or about the borrower's premises godowns at
D10/B-3, Tronica City, Ghaziabad or wherever else the same may be or be held
by any party anywhere to the order and disposition of the borrower. |
|
Charge identification
number of the charge to be modified |
110092 |
TRADE REFERENCE:
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.54.26 |
|
|
1 |
Rs.81.94 |
|
Euro |
1 |
Rs.70.21 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
1 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
14 |
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.