MIRA INFORM REPORT
|
Report Date : |
22.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
SANSUI ELECTRONICS PRIVATE LIMITED |
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Registered
Office : |
Plot No. E-59, Behind Krishi Panan Mandal, Market Yard, Pune – 411037,
Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
09.10.1990 |
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Com. Reg. No.: |
25-058474 |
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Capital
Investment / Paid-up Capital : |
Rs.0.600 Million |
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CIN No.: [Company Identification
No.] |
U29196MH1990PTC058474 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of various kinds of Weighing Scales and
Weighing Systems. |
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No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 350000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track
record. The management has failed to file its financial for the year 2012
with the Government Department. As per previous year, the performance seems to be good. Trade
relations are reported to be fair. Business is active. Payments are reported
to be usually correct and as per commitment. The company can be considered for normal business dealings at usual
trade terms and condition. |
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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
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Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Girish Burande |
|
Designation : |
Account Department |
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Tel. No.: |
91-20-24206000 |
|
Date : |
21.05.2013 |
LOCATIONS
|
Registered Office Factory 1: |
Plot No. E – 59, Behind Krishi Panan Mandal, Market Yard, Gultekdi,
Pune-411037, |
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Tel. No.: |
91-20-24206000 |
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Mobile No.: |
91-9823197051 (Mr. Sebastian) |
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Fax No.: |
91-20-24206060 |
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E-Mail : |
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Website : |
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Warehouse / Showroom : |
Located at Phursungi, Maharashtra, India |
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Factory 2 : |
Located at Pune, Maharashtra, India Himachal Pradesh, India |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Sanjay Mohanlal Bafna |
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Designation : |
Whole Time Director |
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Address : |
106, |
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Date of Birth/Age : |
26.09.1965 |
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Date of Appointment : |
01.04.2005 |
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DIN No.: |
01804203 |
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Other
Directorship:
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Name : |
Mr. Sunil Bankatlal Desadla |
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Designation : |
Whole Time Director |
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Address : |
44, Guruprasad, |
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Date of Birth/Age : |
19.11.1966 |
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Date of Appointment : |
09.10.1990 |
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DIN No.: |
01804230 |
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Other
Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Girish Burande |
|
Designation : |
Account Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Sanjay Mohanlal Bafna |
|
2700 |
|
Sunil Bankatlal Desadla |
|
2340 |
|
Bankatlal Rajmal Desadla |
|
330 |
|
Kavita Sunil Desadla |
|
330 |
|
Sandeepa Sanjay Bafna |
|
300 |
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Total |
|
6000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of various kinds of Weighing Scales and
Weighing Systems. |
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Product: |
·
Electronics weighing scales ·
Table Top Scale ·
Platform Scales ·
High Precision Scales ·
Heavy Duty Scales ·
Weighbridges ·
Crane Scales ·
Jewellary Scales ·
Milk Weighers ·
Shink / Vibra Balances ·
Taximeters ·
Rickshw Merers |
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Exports : |
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Products : |
·
Weighing Scales ·
Weighing Systems |
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Countries : |
·
Sri Lanka ·
Nepal ·
Pakistan, etc |
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Imports : |
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Products : |
Raw Material |
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Terms : |
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Purchasing : |
Credit, On delivery |
GENERAL INFORMATION
|
Customers : |
·
Companies ·
Colleges ·
Laboratories ·
Industries |
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No. of Employees : |
200 (Approximately) |
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Bankers : |
·
State
Bank of India, Deccan Gymkhana Branch, Pune-411004, Maharashtra, India ·
Citi Bank N. A., Kumar Capital, 2413 East Street,
2413 East Street, Camp, Pune-411001, Maharashtra, India ·
State Bank of Patiala, Shiv Nagar, Jail Raod,
Delhi – 110058, India ·
Canara Bank, Himachal Pradesh, India ·
ICICI Bank, Himachal Pradesh, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Vakharia S. K. and Associates Chartered Accountants |
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Address : |
28, 2nd Floor, Santosh Heights, Opposite Apsara Cinema,
Near Hotel Seven Loves Chowk, Pune-411037, Maharashtra, India |
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Tel. No.: |
91-20-26459655 |
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Mobile No.: |
91-9371016432 |
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E-Mail : |
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PAN No.: |
AAOPV3448B |
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Sister Concern: |
·
Sansumatic, Pune, Maharashtra, India ·
Sansui Electronics, Parwano ·
Sansui Sales and Services, Pune, Maharashtra,
India |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9500 |
Equity Shares |
Rs.100/- each |
Rs.0.950 Million |
|
500 |
Preference Shares |
Rs.100/- each |
Rs.0.050 Million |
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|
|
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Total |
|
Rs.1.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
6000 |
Equity Shares |
Rs.100/-
each |
Rs.0.600
Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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|
SHAREHOLDERS FUNDS |
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1] Share Capital |
0.600 |
0.600 |
0.600 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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|
3] Reserves & Surplus |
88.102 |
82.119 |
77.490 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
88.702 |
82.719 |
78.090 |
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|
LOAN FUNDS |
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|
|
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|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
15.798 |
14.088 |
12.585 |
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TOTAL BORROWING |
15.798 |
14.088 |
12.585 |
|
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
|
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|
|
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TOTAL |
104.500 |
96.807 |
90.675 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
25.441 |
28.798 |
27.250 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
20.956 |
30.050 |
27.967 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
17.592
|
18.121 |
16.792
|
|
|
Sundry Debtors |
15.772
|
12.932 |
16.580
|
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|
Cash & Bank Balances |
30.504
|
14.703 |
3.715
|
|
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Other Current Assets |
1.192
|
0.704 |
0.000
|
|
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Loans & Advances |
16.876
|
18.732 |
21.063
|
|
Total
Current Assets |
81.936
|
65.192 |
58.150 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
8.352
|
10.724 |
5.992
|
|
|
Other Current Liabilities |
14.010
|
14.483 |
15.213
|
|
|
Provisions |
1.471
|
2.026 |
1.487
|
|
Total
Current Liabilities |
23.833
|
27.233 |
22.692 |
|
|
Net Current Assets |
58.103
|
37.959 |
35.458 |
|
|
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|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
|
|
TOTAL |
104.500 |
96.807 |
90.675 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
114.307 |
92.652 |
|
|
|
Other Income |
|
0.445 |
0.722 |
|
|
|
TOTAL |
120.578 |
114.752 |
93.374 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
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|
Advertising Expenses |
|
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|
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|
TOTAL |
111.810 |
108.090 |
90.816 |
|
|
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|
|
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|
PROFIT BEFORE
TAX |
8.768 |
6.662 |
2.558 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
2.766 |
2.033 |
1.317 |
|
|
|
|
|
|
|
|
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|
PROFIT AFTER TAX
|
6.002 |
4.629 |
1.241 |
|
|
|
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|
|
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|
VALUE IMPORTS |
22.256 |
18.578 |
11.926 |
|
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|
|
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|
|
|
Earnings Per
Share (Rs.) |
1000.00 |
NA |
NA |
|
|
Particulars |
|
31.03.2013 |
31.03.2012 |
|
Sales Turnover (Approximately) |
|
130.000 |
130.000 |
Expected Sales (2013-2014): Rs.130.000 Millions
The above information has been parted by Mr. Girish Burande – Account
Department
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
19.80
|
17.47 |
1.33 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA |
5.83 |
2.76 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.69
|
10.22 |
4.40 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
0.08 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.18
|
0.17 |
0.16 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.44
|
2.39 |
2.56 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
five 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 |
No |
|
18] |
Major customers |
No |
|
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 |
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 |
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 |
Note: The
registered office of the company has been shifted from Pune-411002,
FIXED ASSETS:
- Plots and Land
- Building
- Furniture and Fixtures
- Computers
- Plant and Machinery
- Office Equipments
- Vehicles
- Wind Mill
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.55.03 |
|
|
1 |
Rs.83.95 |
|
Euro |
1 |
Rs.70.92 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHN |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
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 |
|
42 |
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 |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.