|
Report Date : |
23.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
INDIAN TIMBER PRODUCTS PRIVATE LIMITED |
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Registered
Office : |
Survey No.55/A, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
27.10.1986 |
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|
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Com. Reg. No.: |
00-6888 |
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Capital Investment
/ Paid-up Capital : |
Rs.9.480 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U20230AP1986PTC006888 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDI00949E |
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PAN No.: [Permanent Account No.] |
AAAC1614OC |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturers of ISI marked ITP Flush Doors, Paneldoors, Plywood, LVI,
Black Boards, Form Works, and Pallets. |
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|
No. of Employees
: |
220 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 54548 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. Trade relations are reported as fair. Business
is active. Payments are reported to be slow but correct. The company can be considered for business dealings with slight
caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces of
its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to become
a major exporter of information technology services and software workers. In
2010, the Indian economy rebounded robustly from the global financial crisis -
in large part because of strong domestic demand - and growth exceeded 8%
year-on-year in real terms. However, India's economic growth in 2011 slowed
because of persistently high inflation and interest rates and little progress
on economic reforms. High international crude prices have exacerbated the
government's fuel subsidy expenditures contributing to a higher fiscal deficit,
and a worsening current account deficit. Little economic reform took place in
2011 largely due to corruption scandals that have slowed legislative work.
India's medium-term growth outlook is positive due to a young population and
corresponding low dependency ratio, healthy savings and investment rates, and
increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Chiranjiv Babu |
|
Designation : |
Accountant |
|
Contact No.: |
91-9989488060 |
|
Date : |
04.03.2013 |
LOCATIONS
|
Registered Office/Factory : |
Survey No.55/A, Annaram Village,Hyderabad Narsapur Road 502313, Andra
Pradesh, India |
|
Tel. No.: |
91-8458-275333 |
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Fax No.: |
91-8453-275332 |
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E-Mail : |
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Website : |
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|
Area : |
1.17acre |
|
Location : |
Owned |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Srinivas Sunkara |
|
Designation : |
Managing Director |
|
Address : |
Flat No. 202, Padmaja Courts, 2 |
|
Mobile No.: |
91-9849019044 |
|
Date of Birth/Age : |
30.07.1964 |
|
Date of Appointment : |
01.04.1999 |
|
Qualification : |
BE |
|
DIN No.: |
00194094 |
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|
|
|
Name : |
Mr. Sivaramakrishna Sunkara |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
07.11.1937 |
|
Date of Appointment : |
01.04.1999 |
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Qualification : |
SSC |
|
DIN No.: |
00364467 |
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|
|
|
Name : |
Mr. Raj Kumar Sunkara |
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Designation : |
Director |
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Address : |
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|
Date of Birth/Age : |
08.09.1967 |
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Date of Appointment : |
01.04.1999 |
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Qualification: |
11th (F.Y.) |
|
DIN No.: |
00380672 |
KEY EXECUTIVES
|
Name : |
Mr. Chiranjiv Babu |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Sunkara Srinivas |
|
253500 |
|
Sunkara Sivarama Krishna |
|
174500 |
|
Sunkara Kasturi |
|
4500 |
|
Sunkara Anil Kumar |
|
256500 |
|
Sunkara Raj Kumar |
|
254000 |
|
Sunkara Rohini |
|
5000 |
|
Total |
|
948000 |
AS ON 29.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of ISI marked ITP Flush Doors, Paneldoors, Plywood, LVI,
Black Boards, Form Works, and Pallets. |
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Imports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
Sri Vishakha Timbers and Saw Mills, Hyderabad |
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Customers : |
Global Entrepolis Private Limited, Vishakhapatnam |
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No. of Employees : |
220 (Approximately) |
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Bankers : |
Andhra Bank Bala nagar Branch, E-Mail: bmhyd057@andhrabank.co.in |
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Facilities : |
Open Cash
Credit from Andhra Bank is secured by Hypothecation of Raw Materials,
work-in-progress. Finished Goods and book c and a first, charge on fixed
assets and further guaranteed by the Directors of the Company in their
personal capacity
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Pavuluri and Company Chartered Accountant |
|
Address : |
#105,1st Block,1st Floor, Divya Shakti Complex Ameerpet Hyderabad
500016 Andhra Pradesh, India |
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|
|
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Associates/Subsidiaries : |
NA |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
948000 |
Equity Shares |
Rs.10/- |
Rs.9.480 Millions |
|
|
|
|
|
The Company
has only one class of equity shares having a par value of Rs. 10 per share.
Each Shareholder is eligible for one vote per share. The dividend proposed by
the Board of Directors is subject to the approval of shareholders, except in
case of interim dividend, in the event of liquidation, the equity shareholders
are eligible Company receive the remaining assets of the Company, after
distribution of a)! preferential amounts, in proportion of their shareholding.
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 |
9.480 |
9.480 |
9.480 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
4.157 |
3.780 |
3.506 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
13.637 |
13.260 |
12.986 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
10.769 |
9.066 |
7.186 |
|
|
2] Unsecured Loans |
7.480 |
6.680 |
6.357 |
|
|
TOTAL BORROWING |
18.249 |
15.746 |
13.543 |
|
|
DEFERRED TAX LIABILITIES |
1.020 |
0.602 |
0.699 |
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|
|
|
|
|
|
|
TOTAL |
32.906 |
29.608 |
27.228 |
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|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
13.369 |
12.746 |
14.053 |
|
|
Capital work-in-progress |
1.684 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
31.007
|
24.521 |
23.364 |
|
|
Sundry Debtors |
13.322
|
14.064 |
6.188 |
|
|
Cash & Bank Balances |
0.204
|
0.071 |
0.831 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
1.313
|
2.976 |
2.310 |
|
Total
Current Assets |
45.846
|
41.632 |
32.693 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
16.280
|
16.503 |
15.422 |
|
|
Other Current Liabilities |
10.990
|
8.358 |
3.491 |
|
|
Provisions |
0.723
|
0.509 |
0.605 |
|
Total
Current Liabilities |
27.993
|
25.370 |
19.518 |
|
|
Net Current Assets |
17.853
|
16.262 |
13.175 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
32.906 |
29.608 |
27.228 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
70.394 |
65.221 |
46.704 |
|
|
|
Other Income |
0.119 |
0.020 |
0.012 |
|
|
|
TOTAL (A) |
70.513 |
65.241 |
46.716 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
26.882 |
25.430 |
38.104 |
|
|
|
Purchases of Traded Goods |
26.480 |
22.493 |
3.544 |
|
|
|
Employee Benefit Expenses |
3.732 |
3.296 |
2.937 |
|
|
|
Changes in Inventories of finished goods Work in Progress and stock in
trade |
(5.846) |
(1.049) |
(2.590) |
|
|
|
Other Expenses |
13.570 |
10.633 |
0.000 |
|
|
|
TOTAL (B) |
64.818 |
60.803 |
41.995 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
5.695 |
4.438 |
4.721 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2.456 |
1.927 |
1.582 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3.239 |
2.511 |
3.139 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.946 |
2.012 |
1.971 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1.293 |
0.499 |
1.168 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
0.916 |
0.225 |
0.436 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
0.377 |
0.274 |
0.732 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
2.996 |
2.264 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
3.270 |
2.996 |
|
Expected Sales (2012-2013) : Rs.65.000 Millions
The above information has been parted by Mr. Chiranjiv Babu (Mr.
Chiranjeev Babu)
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.53
|
0.42 |
1.57 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.84
|
0.76 |
2.50 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.18
|
0.92 |
2.50 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.04 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.34
|
1.19 |
1.04 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.64
|
1.64 |
1.67 |
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
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 |
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 |
No |
|
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 |
No |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U20230AP1986PTC006888 |
|
Name of the
company |
INDIAN TIMBER
PRODUCTS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Sy. No.55/A,
Annaram Village, Jinnaram Mandal, Hyderabad – 502313, Andhra Pradesh, India |
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
90122103 |
|
Type of charge |
Immovable
property Book debts Movable property
(not being pledge) |
|
Particular of charge
holder |
ANDHRA BANK |
|
Nature of
instrument creating charge |
1.Composite
Agreement 2. General Form
of Guarantee 3. Sanction
Letter |
|
Date of
instrument Creating the charge |
01/10/2012 |
|
Amount secured by
the charge |
Rs.29.800
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Base rate 3.75
p.a.14.25% at present. Terms of
Repayment Cash Credit
Renewable Every Year. FLC : 90 days Margin Working
Capital:25% on stocks and 50% on Book Debts below 90 days. Sub limit against
book debts restricted to 50% of the limit. Extent and
Operation of the charge Primary Security: OCC:
Hypothecation of Raw Material, work in progress, finished goods and book
debts. Term Loan:Hypothecation
of Plant and Machinery. CBP(Fresh):
Cheques in the name of Company drawn by third parties, DDs. Guarantors: 1.
Mr.S.Sivarama Krishna, 2. Mr.S.Srinivas, 3.Mr.S.Anil Kumar and 4. Mr.S.Raj
Kumar. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
EM of Factory and
Building of company admeasuring Ac 1 Guntas 17.50 and 200 Sq Yds of Land
situated in Sy.No.54 and 55/A Annaram Village, Jinnaram (M) Medak Dist.A.P
Plant and Machinery. Charge on
existing plant and machinery less Term Loan Liability. EM of Open Plot
with Ac Sheet rooms bearing N0.424, Road No.9, situated at Sy No.33, 34D,35P
and 36 to 39, at Sarojini Naidu Nagar, Ravindra Co Op Housing Socieity,
Guttalabegumpet Vil Serilingampally, |
|
Date of
instrument modifying the charge |
22/06/2011 |
|
Particulars of
the present modification |
OCC limits
increased from Rs.10.000 Millions to Rs.12.500 Millions and there is no change
in the existing Term Loan II of Rs.2.300 Millions, CBP is Rs.0.500 Million
(sub-limits to OCC). Additional FLC of Rs.5.000 Millions and Term Loan III
Fresh of Rs.100.00 Lakhs. Present Total Limits are Rs.29.800 Millions. |
FIXED ASSETS:
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.54.33 |
|
|
1 |
Rs.82.55 |
|
Euro |
1 |
Rs.70.10 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
SDA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
33 |
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.