MIRA INFORM REPORT
|
Report Date : |
22.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
METRO-LINK
EXPRESS FOR GANDHINAGAR AND AHMEDABAD (MEGA) COMPANY LIMITED |
|
|
|
|
Registered
Office : |
5th
Floor, Nirman Bhavan, Opposite New Sachivalaya, Gate No. 4, ‘CH’ Road, Sector
10/A, Gandhinagar – 382010, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
04.02.2010 |
|
|
|
|
Com. Reg. No.: |
04-059407 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 100.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U60200GJ2010SGC059407 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAGCM3807N |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged into Metro Rail Projects. |
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|
|
|
No. of Employees
: |
Information declined by the management
|
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1887000 |
|
|
|
|
Status : |
Project under implementation |
|
|
|
|
Payment Behaviour : |
Unknown |
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|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a State Government assisted Company. Even though the company was incorporated during February 4, 2010,
the project of the company is still under implementation. The financial position of the company is good as it is operating on
its own funds and does not have any borrowings. It has incurred huge
pre-operative expenses. Payments are unknown. However, 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.
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 DECLINED BY
|
Name : |
Mr. Nikhil |
|
Designation : |
Accountant |
|
Contact No.: |
91-79-23248572 |
|
Date : |
20.05.2013 |
LOCATIONS
|
Registered Office : |
5th
Floor, Nirman Bhavn, Opposite New Sachivalaya, Gate No. 4, ‘CH’ Road, Sector
10/A, Gandhinagar – 382010, Gujarat, India |
|
Tel. No.: |
91-79-23248572 |
|
Fax No.: |
91-79-23248573 |
|
E-Mail : |
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|
Website : |
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|
|
|
Corporate Office : |
802, 803, 8th Floor, GNFC Info Tower, Sarkhej-Gandhinagar
Highway, Bodakdev, Ahmedabad – 380054, Gujarat, India |
|
Tel. No.: |
91-79-26859765/ 26800000 |
|
Fax No.: |
91-79-26859766 |
DIRECTORS
AS ON 21.01.2013
|
Name : |
Mr. Sanjay Gupta |
|
Designation : |
Executive Chairman |
|
Address : |
B/202, Dhananjay Towers, Near Shyamal Row House, Satellite Road,
Ahmedabad - 380051, Gujarat, India |
|
Date of Birth/Age : |
19.06.1963 |
|
Qualification : |
B.E (Civil) |
|
Date of Appointment : |
08.04.2011 |
|
PAN No.: |
ABUPG5799B |
|
DIN No.: |
00006361 |
|
|
|
|
Name : |
Mr. Arvind Kumar Sharma |
|
Designation : |
Director |
|
Address : |
F-3, Samarpan Flat, Gulbai Tekra, Ahmedabad - 380006,
Gujarat, India |
|
Date of Birth/Age : |
11.07.1962 |
|
Qualification : |
IAS |
|
Date of Appointment : |
04.02.2010 |
|
DIN No.: |
01312673 |
|
|
|
|
Name : |
Mr. Syed Jawaid Haider |
|
Designation : |
Director |
|
Address : |
Bunglow No. KH-19, Sector 19, Near Circuit House,
Gandhinagar - 382019, Gujarat, India |
|
Date of Birth/Age : |
03.12.1965 |
|
Qualification : |
IAS |
|
Date of Appointment : |
04.02.2010 |
|
DIN No.: |
02879522 |
|
|
|
|
Name : |
Mr. Indrajeet Prasad Gautam |
|
Designation : |
Director |
|
Address : |
K-201, Sector - 19, Gandhinagar - 382019, Gujarat, India |
|
Date of Birth/Age : |
02.04.1953 |
|
Qualification : |
IAS |
|
Date of Appointment : |
20.07.2011 |
|
DIN No.: |
00260908 |
|
|
|
|
Name : |
Mr. Chotilal Raghunath Meena |
|
Designation : |
Director |
|
Address : |
K-516, Chh/85/9-Ch, Z Private, Plot 148 Thi, 155, Sector
20/1, Gandhinagar - 382020, Gujarat, India |
|
Date of Birth/Age : |
11.05.1952 |
|
Qualification : |
IAS |
|
Date of Appointment : |
26.07.2011 |
|
DIN No.: |
02597773 |
|
|
|
|
Name : |
Mr. Lalnunmawia Chuaungo |
|
Designation : |
Director |
|
Address : |
GIPCL House, Near Amar Complex, Sama Road, Vadodara - 390008,
Gujarat, India |
|
Date of Birth/Age : |
01.03.1962 |
|
Qualification : |
IAS |
|
Date of Appointment : |
26.07.2011 |
|
DIN No.: |
00032867 |
KEY EXECUTIVES
|
Name : |
Mr. Chaitanya Bimalkumar Kapadia |
|
Designation : |
Secretary |
|
Address : |
B/904,
Prakruti Flats, Near Suvidha Cross Roads, Near Parimal Garden, Paldi,
Ahmedabad – 380007, Gujarat, India |
|
Date of Birth/Age : |
06.12.1981 |
|
Date of Appointment : |
01.08.2011 |
|
PAN No.: |
ARZPK9974D |
|
|
|
|
Name : |
Mr. Nikhil |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 21.01.2013
|
Names of Shareholders |
|
No. of Shares |
|
Hon. Governor of Gujarat,
represented by Indrajeet Prasad Bhikhi Gautam, IAS |
|
10 |
|
Hon. Governor of
Gujarat, represented by Kanubhai Dahyabhai Suthar |
|
10 |
|
Hon. Governor of
Gujarat, represented by Arvind Kumar Sharma, IAS |
|
10 |
|
Hon. Governor of Gujarat,
represented by Guruprasad Mohapatra, IAS |
|
10 |
|
Hon. Governor of Gujarat,
represented by Syed Jawaid Haider, IAS |
|
10 |
|
Hon. Governor of Gujarat,
represented by Mamta Verma, IAS |
|
10 |
|
Hon.
Governor of Gujarat, represented by Mukesh Rajnikant Shah |
|
10 |
|
Hon. Governor of
Gujarat |
|
89999930 |
|
|
|
|
|
Total |
|
90000000 |
AS ON 21.01.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Government [Central and State] |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged into Metro Rail Projects. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|
|
|
|
Bankers : |
Ř State Bank of
India Ř Vijaya Bank,
Industrial Finance Branch, Kamdhenu Complex, Opposite Polytechnic, Ambavadi,
Ahmedabad - 380015, Gujarat, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Kantilal Patel and Company Chartered Accountants |
|
Address : |
202,
"Paritosh"Usmanpura (River Front) |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFK3532D |
CAPITAL STRUCTURE
AS ON 21.01.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 10000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
90,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 900.000
Millions |
|
|
|
|
|
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 2000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 100.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
100.000 |
100.000 |
|
|
2] Share Application Money |
|
400.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
(28.197) |
(11.460) |
|
|
NETWORTH |
|
471.803 |
88.540 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
471.803 |
88.540 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
34.518 |
0.000 |
|
|
Capital work-in-progress |
|
86.830 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.000 |
0.000 |
|
|
Sundry Debtors |
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
|
368.366 |
0.000 |
|
|
Other Current Assets |
|
1.066 |
100.000 |
|
|
Loans & Advances |
|
9.530 |
0.000 |
|
Total
Current Assets |
|
378.962 |
100.000 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
16.556 |
11.460 |
|
|
Other Current Liabilities |
|
11.396 |
0.000 |
|
|
Provisions |
|
0.555 |
0.000 |
|
Total
Current Liabilities |
|
28.507 |
11.460 |
|
|
Net Current Assets |
|
350.455 |
88.540 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
471.803 |
88.540 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
0.000 |
0.000 |
|
|
|
Other Income |
|
10.712 |
0.000 |
|
|
|
TOTAL (A) |
|
10.712 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee Benefit Expenses |
|
5.487 |
0.351 |
|
|
|
Other Expenses |
|
16.587 |
11.109 |
|
|
|
TOTAL (B) |
|
22.074 |
11.460 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
(11.362) |
(11.460) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
0.079 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
(11.441) |
(11.460) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
1.820 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
|
(13.261) |
(11.460) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
3.476 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
|
(16.737) |
(11.460) |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
|
(1.67) |
(1.15) |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
|
(156.25) |
0.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
(3.21) |
(11.46) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
(0.03) |
(0.13) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
13.29 |
8.73 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
|
|
|
|
Trade payables |
16.556 |
11.460 |
|
|
|
|
|
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 |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
two 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 |
No |
|
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 |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
Note:
The registered office of the company has been shifted from B-Wing, 2nd
Floor, GSCSCL Building, "CH" Road, Sector 10/A, Gandhinagar – 382010,
Gujarat, India to the present w.e.f.27.09.2011.
CORPORATE INFORMATION
Subject domiciled in
India and incorporated under the provisions of the Companies Act, 1956 (No. 1
of 1956). The Company’s main object is to undertake and carry on the business
as nodal agency and/ or Concessioning Authority for Mass Rapid Transport System
by establishing Metro-Link between Gandhinagar and Ahmedabad and in and around
and, its expansion in the State of Gujarat.
FINANCIAL RESULTS
The Company was
incorporated on 04th February, 2010. The Company has completed its second Financial
Year ended on 31.03.2012. During the period, the Company is yet to commence its
operation and hence there is no revenue during the period ended on 31.03.2012.
But the Company has made substantial progress towards the effective
implementation of the Project.
BUSINESS OPERATION
/ ACTIVITIES:
The Company, being
in the business of long term infrastructure project, during the period is yet
to start its business operation. The Company has a loss of Rs. 16.737 Millions
on account of administrative and project related expenses. The Company has also
incurred Rs. 86.800 Millions towards Capital Work-in-Progress for speedy and
effective implementation of the Project. The Directors are also continuously
looking for avenues for future growth of the Company in Metro Rail industry.
MEGA aims to
create a landmark metro rail project not only for the state of Gujarat but also
for the whole country. MEGA is committed to deliver most cost efficient metro
within the shortest time span possible in the country.
PHASE I OF THE
PROJECT
Of the complete
network, Line 1A, Line 3, Line 4 and Line 5 have been selected to be
implemented in Phase 1, the details of which are presented below
Ř Line 1A connects
State administrative capital with Ahmedabad city. This line connects to major
hubs in the Gandhinagar like Akshardham, Mahatma Mandir, Indroda Nature Park,
Sachivalaya, Mahatma Mandir, Pathik Ashram etc. Further, the city of Ahmedabad
is growing towards its north and Gandhinagar towards its south. The development
of this corriodr will help in further catalyzing systematic high density urban
growth. Presently the region is envisaging rapid urban growth with upcoming of
institues like Petroleum University, Law University, National Institute of
Design etc.
Ř Line 3 connecting
to the International Airport of Ahmedabad traverses along the river edge
connecting Motera Stadium.
Ř Line 4 connects to
Mahatma Mandir, one of the biggest business exhibition and convention centre
which hosts event like Vibrant Gujarat.
Ř Line 5 connects
the upcoming SEZ, Gujarat International Finance- Tec (GIFT) City. The SEZ
proposes to generate total 1 million employments which would add atleast 15
million populations between the twin city regions of Gandhinagar and Ahmedabad
PROJECT STATUS:
The company has
made sub substantial progress towards effective and speedy implementation of
the Project by finalizing the alignment for the Project and by issuing various
procurement and construction related EOIs. A meeting of the High Power
Committee was held on 07.06.2012 to finalize the alignment for the Metro
Project and the said committee, vide its letter dated 21.09.2012 approved the
Metro Rail alignment of approximate 76 KMs. Government of Gujarat, vide its GR
dated 02.01.2012 has formed Monitoring Committee under the Chairmanship of
Chief Secretary, Gujarat for effective implementation of the Project and has
also formed a Committee of High Powered Officials under the Chairmanship of
Hon. Minister, Revenue Department, Gujarat for necessary guidance and for
taking important policy related decisions. The Company has also issued various
procurement and construction related EOIs and RFPs.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U60200GJ2010SGC059407 |
|
Name of the
company |
METRO-LINK
EXPRESS FOR GANDHINAGAR AND AHMEDABAD (MEGA) COMPANY LIMITED |
|
Address of the
registered office or of the principal place of business in |
5th Floor,
Nirman Bhavn, Opposite New Sachivalaya, Gate No. 4, ‘CH’ Road, Sector 10/A,
Gandhinagar – 382010, Gujarat, India Email: cs@gujaratmetrorail.com |
|
This form is for |
Creation of charge |
|
Type of charge |
Book debts Movable property (not being pledge) Floating charge Others [TRA and DSRA account] |
|
Particular of
charge holder |
Vijaya Bank, Industrial Finance Branch, Kamdhenu Complex, Opposite
Polytechnic, Ambavadi, Ahmedabad - 380015, Gujarat, India Email: ahmifb@vijayabank.co.in
|
|
Nature of
description of the instrument creating or modifying the charge |
Hypothecation
Agreement |
|
Date of
instrument Creating the charge |
28.03.2013 |
|
Amount secured by
the charge |
Rs. 2500.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Base Rate +1.55%
+ 0.25% (TP) (floating), i.e. 12% p.a., at present, payable monthly. Terms of Repayment Repayable in 12
years in equal quarterly installments commencing after construction period of
3 years plus moratorium period of 3 years with Door to door tenor of 18
years. Margin As per Bank's
Sanction. Extent and Operation of the charge All the
securities have been hypothecated by way of first charge in favor of bank in
order to secure Term Loan of Rs. 2500.000 Millions, together with interest
and all other moneys payable by the Company to the Bank. |
|
Short particulars
of the property charged |
First Charge on
all movable assets, operating cash flows, receivables, present and future
pertaining to the project First charge on
Borrower's bank Trust and Retention Account (TRA) to be opened, where cash
inflows from operation of facility, present and future, shall be deposited
and utilized as per TRA Agreement Assignment/Agreement
to assign in favour of Lenders, rights, titles, interests, benefits, claims
and demands whatsoever of Borrower from all Project Documents First Charge on
the Borrower's Debit Service Reserve Account (DSRA) |
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2012 |
31.03.2011 |
|
|
(Rs. in Millions) |
|
|
Estimated amount of contracts remaining to be executed on capital account
and not provided for |
44.289 |
0.000 |
|
Total |
44.289 |
0.000 |
FIXED ASSETS:
Ř
Plant and equipment
Ř
Furniture and fixtures
Ř
Vehicles
Ř
Office equipment
Ř
Computer equipments
Ř Other equipments
Ř Other equipments
Ř Leasehold improvements
Ř Books periodicals
Ř Computer software
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. 55.04 |
|
|
1 |
Rs. 83.95 |
|
Euro |
1 |
Rs. 70.93 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
31 |
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.