MIRA INFORM REPORT

 

 

 

 

Report Date :

08.05.2013

 

IDENTIFICATION DETAILS

 

Name :

UNISOURCE PAPERS PRIVATE LIMITED (w.e.f. 11.12.2007)

 

 

Formerly Known As :

J AND H SALES (INDIA) PRIVATE LIMITED

 

 

Registered Office :

201/202 – A, Angelina Apartments, 2nd Floor, Old Police Station Road, Vile Parle (West), Mumbai – 400056, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013 (Unaudited)

 

 

Date of Incorporation :

07.02.2005

 

 

Com. Reg. No.:

11-189684

 

 

Capital Investment / Paid-up Capital :

Rs. 80.000 Millions

 

 

CIN No.:

[Company Identification No.]

U51909MH2005PTC189684

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturing of Processing Papers.

 

 

No. of Employees :

40 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (26)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 280000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having a moderate track record. There appear some accumulated losses recorded by the company.

 

However, trade relations are reported to be fair. Business is active. Payments are slow.

 

The company can be considered for business dealings with some caution. 

 

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

ICRA

Rating

C+ (Fund Based Cash Credit)

Rating Explanation

Having very high risk of default regarding timely servicing of financial obligation

Date

03.09.2012

 

 

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.

 

 

INFORMATION PARTED BY

 

Name :

Ms. Smita

Designation :

Accounts Department

Contact No.:

91-22-26136600

 

 

LOCATIONS

 

Registered/ Head Office :

201/202 – A, Angelina Apartments, 2nd Floor, Old Police Station Road, Vile Parle (West), Mumbai – 400056, Maharashtra, India

Tel. No.:

91-22-26136600

Fax No.:

91-22-26175455

E-Mail :

headoffice@unipaper.in

inder.aurora@unipaper.in

Website :

www.unipaper.in

Location :

Rented

 

 

Factory 1 :

Gat No. 280, Plot No. 1/2/3 and 15, Kuruli, Nanekarwadi, Taluka Khed, District Pune – 410501, Maharashtra, India

Location :

Owned

 

 

Factory 2 :

Gat No. 1033 and 1034, Plot No. 619, Village Shiroli, Taluka Rajguru Nagar, District Pune – 410505, Maharashtra, India

Tel. No.:

91-2135-306809/18

Fax No.:

91-2135-306816

E-Mail :

info@unipaper.in

Location :

Owned

 

 

Sales Office :

Commissariat Building, 1st Floor, 231, Dr D N Road, Fort, Mumbai-400001, Maharashtra, India

Tel. No.:

91-22-22614611 / 22641991

E-Mail :

sales@unipaper.in

 

 

DIRECTORS

 

AS ON 28.09.2012

 

Name :

Mr. Inder Aurora

Designation :

Director

Address :

41/ 42, Muktangan, 4th Floor, Sarojini Road, Santacruz (West), Mumbai – 400054, Maharashtra, India

Date of Birth/Age :

12.07.1961

Date of Appointment :

07.02.2005

DIN No.:

00625001

 

 

Name :

Ms. Arti Aurora

Designation :

Director

Address :

41/ 42, Muktangan, 4th Floor, Sarojini Road, Santacruz (West), Mumbai – 400054, Maharashtra, India

Date of Birth/Age :

17.04.1962

Date of Appointment :

28.09.2007

DIN No.:

00983222

 

 

KEY EXECUTIVES

 

Name :

Ms. Smita

Designation :

Accounts Department

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 28.09.2012

 

Names of Shareholders

No. of Shares

Inder Aurora

5000

Harmeet Baxi, UK

300000

Ranjit Baxi, UK

250000

Tradecom International Private Limited, India

3695000

Michael Kelso, USA

500000

TOTAL

4750000

 

 

AS ON 19.01.2013

 

Names of Allottees

No. of Shares

Investments Squares Pte Limited, Singapore 

2079190

Inder Aurora

944000

Tradecom International Private Limited, India

226810

TOTAL

3250000

 

 

AS ON 28.09.2012

 

Equity Shares Break Up

Percentage of Holding

Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others

22.10

Bodies corporate

77.79

Directors or relatives of Directors

0.11

TOTAL

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturing of Processing Papers.

 

 

Products :

PRODUCT DESCRIPTION

ITEM CODE NO.

Kraft Liner Board

48042900

Coated and Uncoated Paper

48101390

Coated Gloss Paper in sheet

48101990

 

 

Imports :

 

Products :
  • Paper and Paper Product
  • Virgin Kraft Liner
  • Brown Kraft Liner
  • White Top
  • Kraft Liner Board
  • Art Paper
  • Semi Chemical Fluting
  • IVORY Board
  • Coated Paper

Countries :
  • Canada
  • America
  • Sweden
  • Singapore

 

 

Terms :

 

Selling :

L/C, Cash, Credit (30 Days, 90 Days)

 

 

Purchasing :

L/C, Cash, Credit (30 Days, 90 Days)

 

 

PRODUCTION STATUS (AS ON 31.03.2012)

 

PARTICULARS

Actual Production

Paper

6140396

Paper Wool

301332

 

 

GENERAL INFORMATION

 

Suppliers :
  • PCS Technology Limited
  • Shree Sai Enterprises
  • Sayandeep Computers
  • Yes Logistics
  • Valbhav Services Centre
  • Gautam Enterprises
  • G A Paper International
  • Global Impex Inc
  • Kalptaru Papers Limited

 

 

Customers :
  • Reliance Packing Industries
  • Abha Packaging
  • C I Corporation
  • Concept Specially Pack Private Limited
  • Fibre Foils Limited
  • Gajanan Packwell Private Limited
  • Indo Afrique Paper Mills Private Limited

 

 

No. of Employees :

40 (Approximately)

 

 

Bankers :
  • Vijaya Bank, Fort Branch, Emca House, 289, S. B. S. Road, Mumbai – 400001, Maharashtra, India

 

 

Facilities :

Secured Loan

 

Rs. In Millions

31.03.2012

Rs. In Millions

31.03.2011

Long Term Borrowings

 

 

Bonds / Debentures

10.480

12.064

Working Capital Term Loans

(Working capital loans from banks are secured by the hypothecation of inventories and book debts pledge of premises)

3.654

7.078

Short Term Borrowings

 

 

Cash Credit from Vijaya Bank – fort(500706211000001)

12.885

15.033

Cash Credit from Vijaya Bank – Pune(500406211000003)

0.747

0.428

(Working capital loans from banks are secured by the hypothecation of inventories and book debts) (Cash Credit facility carries the interest @ 15.5% p.a.)

 

 

 

 

 

TOTAL

27.766

34.603

 

NOTES

 

Nature of security and terms of repayment for secured borrowings (other than debentures).

 

The current maturity of the F Y 2012-13 on long term borrowings are classified as other current liabilities

 

Nature of security

Terms of repayment

Term loan from bank amounting to Rs. 3.871 Millions March 2011 Rs. 5.583 Millions are secured by movable assets, present and future by equitable mortgage

Repayable in 90 Equal Installments beginning from 05.05.2008

Term loan from bank amounting to Rs. 2.834 Millions March 2011 Rs. 3.969 Millions are secured by movable assets, present and future by equitable mortgage

Repayable in 84 Equal Installments beginning from 29.05.2009

Term loan from bank amounting to Rs. 2.250 Millions March 2011 Rs. Nil are secured by movable assets, present and future by equitable mortgage

Repayable in 36 Equal Installments beginning from 10.07.2012

Term loan from bank amounting to Rs. 0.147 Million March 2011 Rs. 0.352 Million are secured by movable assets, present and future by equitable mortgage

Repayable in 36 Equal Installments beginning from 27.11.2010

Terms loan from bank amounting to Rs. 1.376 Million March 2011 Rs. 2.158 Millions are secured by movable assets, present and future by equitable mortgage

Repayable in 48 Equal Installments beginning from 18.09.2010

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Shan and Chhadva

Chartered Accountant

Address :

313, Janmabhoomi Chambers, 29, Walchand, Hirachand Marg, Mumbai – 400001, Maharashtra, India

Tel. No.:

91-22-22616228/ 22705659

E-Mail :

saraichura@rediffmail.com

PAN No.:

AABPS9137P

 

 

Holding Company :
  • Tradecom International Private Limited

CIN No.:- U51396MH1995PTC087180

Address : 201/202-A, Angelina Apartments, 2nd Floor, Old Police Station Road, Vile Parle (West), Mumbai-400056, Maharashtra, India

Line of Business : Indentors, Commission Agent and Dealers of Paper and Paper Products

 

 

Associates :

Garima Trade Services Private Limited

 

 

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2012

 

Authorised Capital :

 

No. of Shares

Type

Value

Amount

 

 

 

 

5000000

Equity Shares

Rs.10/- each

Rs. 50.000 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

 

No. of Shares

Type

Value

Amount

 

 

 

 

4750000

Equity Shares

Rs.10/- each

Rs. 47.500 Millions

 

 

 

 

 

 

AS ON 28.09.2012

 

Authorised Capital :

 

No. of Shares

Type

Value

Amount

 

 

 

 

8000000

Equity Shares

Rs.10/- each

Rs. 80.000 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

 

No. of Shares

Type

Value

Amount

 

 

 

 

8000000

Equity Shares

Rs.10/- each

Rs. 80.000 Millions

 

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2013

(Unaudited)

31.03.2012

31.03.2011

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

80.000

47.500

37.500

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

(9.565)

(19.437)

(16.375)

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

70.435

28.063

21.125

LOAN FUNDS

 

 

 

1] Secured Loans

4.826

27.766

34.603

2] Unsecured Loans

0.000

16.340

5.590

TOTAL BORROWING

4.826

44.106

40.193

DEFERRED TAX LIABILITIES

0.000

0.000

0.000

 

 

 

 

TOTAL

75.261

72.169

61.318

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

45.752

47.208

44.775

Capital work-in-progress

22.471

20.099

0.804

 

 

 

 

INVESTMENT

0.000

0.000

0.000

DEFERREX TAX ASSETS

2.011

2.011

2.690

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories

55.263
23.571
30.888

 

Sundry Debtors

32.441
26.978
13.980

 

Cash & Bank Balances

4.011
9.201
9.473

 

Other Current Assets

8.537
0.000
0.000

 

Loans & Advances

0.538
5.317
6.217

Total Current Assets
100.790

65.067

60.558

Less : CURRENT LIABILITIES & PROVISIONS

 

 

 

Sundry Creditors
 
52.454

38.443

 

Other Current Liabilities

94.665
9.006
7.927

 

Provisions

1.098
0.756
1.139

Total Current Liabilities
95.763

62.216

47.509

Net Current Assets

5.027
2.851
13.049

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

75.261

72.169

61.318

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2013

(Unaudited)

31.03.2012

31.03.2011

 

 

SALES

 

 

 

 

 

Income

241.140

259.069

229.339

 

 

Other Income

0.889

0.924

0.555

 

 

TOTAL                                     (A)

242.029

259.993

229.894

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Goods

206.344

252.860

223.081

 

 

Administrative Expenses

12.501

 

 

 

 

Other Expenses

12.060

 

 

 

 

TOTAL                                     (B)

230.905

252.860

223.081

 

 

 

 

 

Less

PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

11.124

7.133

6.813

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

6.239

6.963

6.019

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                               (E)

4.885

0.170

0.794

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

2.755

2.526

2.302

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX (E-F)                (G)

2.130

(2.356)

(1.508)

 

 

 

 

 

Less

TAX                                                                  (H)

0.383

NA

0.915

 

 

 

 

 

 

PROFIT / (LOSS) AFTER TAX (G-H)                  (I)

1.747

NA

(2.423)

 

 

 

 

 

 

Earnings Per Share (Rs.)

--

--

(0.64)

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2013

(Unaudited)

31.03.2012

31.03.2011

PAT / Total Income

(%)
0.72
NA

(1.05)

 

 
 
 

 

Net Profit Margin

(PBT/Sales)

(%)
0.88
(0.91)

(0.66)

 

 
 
 

 

Return on Total Assets

(PBT/Total Assets}

(%)
1.43
(2.06)

(1.40)

 

 
 
 

 

Return on Investment (ROI)

(PBT/Networth)

 
0.03
(0.08)

(0.07)

 

 
 
 

 

Debt Equity Ratio

(Total Debt /Networth)

 
0.07
1.57

1.90

 

 
 
 

 

Current Ratio

(Current Asset/Current Liability)

 
1.05
1.05

1.27

 

 

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

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

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

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

 

 

Unsecured Loan

 

Rs. In Millions

31.03.2012

Rs. In Millions

31.03.2011

Long Term Borrowings

 

 

Loans and advances from related parties

16.340

5.590

 

 

 

TOTAL

16.340

5.590

 

 

SUNDRY CREDITORS DETAILS

(Rs. In Millions)

Particulars

 

31.03.2013

31.03.2012

31.03.2011

Sundry Creditors

 

 

 

Gautam Enterprises

NA
38.605

32.509

G A Paper International

 
0.000

5.934

American Papers Export Inc
 
1.718

0.000

Global Impex Inc
 
2.714

0.000

Newport Ch International LLC
 
9.295

0.000

Ram Techno Pack

 

0.066

0.000

Kalptaru Papers Limited

 

0.056

0.000

TOTAL
NA
52.454

38.443

 

PERFORMANCE

 

During this year, the company’s overall revenue has increased however, it has resulted in loss of Rs. 2.356 Million.

 

The company has incurred loss during the year due to increase in operating expenses. The increase in raw materials cost, and increase in other cost had an impact on the profitability of the firm. There has been increase in the turnover of the company, hence the total revenue from operating activities has been increased to Rs. 259.994 Million as compared to Rs. 229.895 Millions in last financial year. They have made all efforts to keep the company’s business is growth trajectory and have succeeded marginally through support of their employees and customers. They hope that business of company will show sharp growth in coming financial years.

 

FORM 8

 

Corporate identity number of the company

U51909MH2005PTC189684

Name of the company

UNISOURCE PAPERS PRIVATE LIMITED

Address of the registered office or of the principal place of  business in India of the company

201/202 – A, Angelina Apartments, 2nd Floor, Old Police Station Road, Vile Parle (West), Mumbai – 400056, Maharashtra, India

Email Id : inder.aurora@unipaper.in

This form is for

Modification of charge

Charge identification number of the charge to be modified

10063831

Type of charge

  • Book debts
  • Movable property (not being pledge)
  • Others

Particular of charge holder

Vijaya Bank, Fort Branch, Emca House, 289, S. B. S. Road, Mumbai – 400001, Maharashtra, India

Email Id : mum.fort5007@vijayabank.co.in

Nature of instrument creating charge

Supplementary agreement, Letter by Vijaya Bank under ref: VB:FB:DGM: UPPL: 2011-12.

Date of instrument Creating the charge

07.03.2012

Amount secured by the charge

Rs. 74.199 Millions

Brief of the principal terms an conditions and extent and operation of the charge

Rate of interest

WC(except CC) and SL facilities: As per existing terms of bank sanction.

On CC: Base Rate (10.65%) + 4.85% i.e. 15.50% p.a. (floating) or at such other rate as may be fixed by the bank from time to time

 

Terms of repayment

- CC and FLC/ILC: On demand

- WCTL and SL 1 to 3: As per existing terms of bank sanction

 

Margin

As per existing terms of bank sanction

 

Extent and operation of the charge

Security created by way of first charge and to cover the principal amount together with interest, commitment charges, commission, discount, costs, expenses etc.

 

Other

Security created in respect of the following credit facilities:

- CC:                                Rs.15.000 Millions

- WCTL:                           Rs.7.339 Millions

- Secured Loan-1 to 3:     Rs.11.860 Millions

- FLC / ILC                       Rs.40.000 Millions

Total...                              Rs.74.199 Millions

Short particulars of the property charged (Including location of the property)

Plant and machinery, furniture and fixtures, office equipments and vehicles purchased and installed at Gat No.280, Plot No.1, 2, 3 and 15 of Village Nanekarwadi, Taluka Khed, District Pune.

 

Plant and machinery, furniture and fixtures, office equipments and vehicles purchased and installed at Gat No. 1033, 1034, Plot No.169 of Village Shiroli, Taluka Khed, Post Rajgurunagar, District Pune.

 

Whole of the present and future stocks of raw materials, goods in  process or manufacture and all finished and manufactured goods and articles such as stock of paper rolls / sheets and book debts / entire current assets together with all stores, components and spares which now belong to or may hereafter time to time belong to the company and which are or shall or may be brought into stored or be in or upon or about the company’s factory, godown and / or other premises at Gat No.280, Plot No. 1, 2, 3 and 15, Kuruli, Nanekarwadi, Khed Taluka, District Pune 410501 or wherever else the same may be situated stored or lying or being including any such raw materials, articles or goods, stores, spares and components or other similar movable property in course of transit or delivery to the company.

 

All present and future book debts, outstanding monies, receivables, claims, bills, rights to or movable asset and which are now due owing or payable or belonging to the company or which may at any time hereafter become due, owing, payable or belonging to the company in the course of its business.

Date of instrument modifying the charge

29.10.2007

Particulars of the present modification

At the request of the Company, Vijaya Bank has renewed the credit facilities which stands revised at Rs.74.199 Millions.

 

 

TRADE REFERENCE

 

  • MWV Wadco India Private Limited

Address: B-42, MIDC Ranjangaon, Dhok-Sanghavi, Taluka-Shirur, District Pune-412218, Maharashtra, India

Tel No.:- 91-2138-670459 / 60 / 61

Contract Person: Mr. Ram Prakash Rai

 

  • Novel Packaging

Address: Sr No.41/2, B/2, Vadagaon Sheri, Off Nagar Road, Pune-411014, Maharashtra, India

Tel No.:-  91-20-27030569

Contract Person: Mr. Sanjya Bothra

 

  • Star Boxes India (Private) Limited

Address: Pollivakkam Chatram, Pollivakam P.O., Thiruvallur Taluka, District Thiruvallur-602002, Tamilnadu, India

Tel No.:- 91-44-26771000

Contract Person: Mr. Nand Kumar

 

  • Parksons Packaging Limited

Address: 41/B, Lalbaug Industrial Estate, Dr. Ambedkar Road, Lalbaug, Mumbai-400012, Maharashtra, India

Tel No.:- 91-22-66667200 / 66635200

Contract Person: Mr. Havelia

 

FIXED ASSETS

 

  • Computers and Printers
  • Electrical Fittings
  • Land and Buildings
  • Factory Land
  • Motor Car
  • Office Equipments
  • Plant and Machinery
  • Furniture and Fixtures
  • Laboratory Equipments
  • Factory Equipments
  • Mobile Phone
  • SAP Installation in Progress

 

 

 

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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. 54.27

UK Pound

1

Rs. 84.31

Euro

1

Rs. 70.99

 

 

INFORMATION DETAILS

 

Information Gathered by :

PLK

 

 

Report Prepared by :

DPT


 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

3

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

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

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

 

26

 

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

-

 

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.