|
Report Date : |
18.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
BROOKS BROTHERS INDIA PRIVATE LIMITED (w.e.f. 28.05.2013) |
|
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|
Formerly Known
As : |
VOGUE BRAND SOLUTIONS PRIVATE LIMITED |
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Registered
Office : |
8th Floor, Maker Tower 'E', Cuffe Parade, Mumbai – 400005, Maharashtra |
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Country : |
India |
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|
|
Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
27.02.2012 |
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Com. Reg. No.: |
11-227437 |
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Capital
Investment / Paid-up Capital : |
Rs. 216.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74900MH2012PTC227437 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMI10579C |
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PAN No.: [Permanent Account No.] |
AACCI9235J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
To carry on the business of protecting, exploiting and managing its
brands and other property (licensed and owned) relating to products in the
fashion, home and related categories and across all channels withing India. |
|
|
|
|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 740000 |
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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 a relatively new company incorporated as on February 27,
2012, having a moderate track record. It a part of “Brooks Brothers Group
Inc”. The company has recorded some accumulated losses during 2013. However,
there appear no external borrowings as the management is operating on their
own funds. The ratings also take into consideration the prevailing goodwill of
the company as a “brand” in the American ready to wear apparel market. Trade relations are fair. Business is active as per the status shown
in the maintained with the registrar of companies. Payment terms are unknown. In view of long standing experience of the promoters, the subject 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.
INDIAN ECONOMIC OVERVIEW
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The
report says that the adverse effects of rupee depreciation are likely to be
offset by the gains in the exports performance due to improved external
competitiveness. Since May this year, the local currency has depreciated
substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
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
MANAGEMENT NON-COOPERATIVE
LOCATIONS
|
Registered Office : |
8th Floor, Maker Tower 'E', Cuffe Parade, Mumbai – 400005, Maharashtra, India |
|
Tel. No. : |
91-22-40613000 |
|
Fax No. : |
Not Available |
|
E-Mail : |
DIRECTORS
As on 20.06.2013
|
Name : |
Kiran Mathew Thomas |
|
Designation : |
Director |
|
Address : |
77-A, Nandanvan CHS, Sec-17, Nerul, Navi Mumbai – 400706,
Maharashtra India |
|
Date of Birth/Age : |
12.09.1972 |
|
Date of Appointment : |
20.06.2013 |
|
DIN No. : |
02242745 |
|
|
|
|
Name : |
Darshan Rasiklal Mehta |
|
Designation : |
Director |
|
Address : |
32, Mayflower Carmichael Road, Mumbai – 400026, Maharashtra,
India |
|
Date of Birth/Age : |
31.07.1961 |
|
Date of Appointment : |
27.02.2012 |
|
DIN No. : |
00103155 |
|
|
|
|
Name : |
Paulette Garafalo |
|
Designation : |
Director |
|
Address : |
315 E 72, ST 9B, New York 10021 |
|
Date of Birth/Age : |
16.07.1956 |
|
Date of Appointment : |
20.06.2013 |
|
DIN No. : |
06428580 |
|
|
|
|
Name : |
Andy S Lew |
|
Designation : |
Director |
|
Address : |
Flat 27 J, 33, Tai Tam Road, The Manhattan |
|
Date of Birth/Age : |
21.10.1970 |
|
Date of Appointment : |
20.06.2013 |
|
DIN No. : |
06428568 |
|
|
|
|
Name : |
Claudio Del Vecchio |
|
Designation : |
Director |
|
Address : |
393 Mill River Road, Oyster Bay, New York 11771 |
|
Date of Birth/Age : |
26.02.1957 |
|
Date of Appointment : |
20.06.2013 |
KEY EXECUTIVES
|
Name : |
Prasanta Kumar Sahoo |
|
Designation : |
Secretary |
|
Address : |
D-604, Safal Parisar II, South Bopal, Ahmedabad – 380058, Gujarat,
India |
|
Date of Birth/Age : |
04.05.1966 |
|
Date of Appointment : |
21.01.2013 |
|
PAN No.: |
AFFPS2684L |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 20.06.2013
|
Names of Shareholders |
|
No. of Shares |
|
Reliance Brands Limited, India |
|
10584000 |
|
BBDI LLC, United States of America |
|
11016000 |
|
Total |
|
21600000 |
As on 20.06.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
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 |
51.00 |
|
Bodies corporate |
49.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
To carry on the business of protecting, exploiting and managing its
brands and other property (licensed and owned) relating to products in the
fashion, home and related categories and across all channels withing India. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
|
|
|
|
Bankers : |
Not Divulged |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Chaturvedi and Shah Chartered Accountants |
|
Address : |
714-715, Tulsiani Chambers 212, Nariman Point Mumbai – 400021, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFC0662N |
|
|
|
|
Holding company /
Joint venture partner : |
BBDI LLC, United States (from 20-12-2012) |
|
|
|
|
Joint venture
partner |
Reliance Brands Limited (from 20-12-2012) U51900MH2007PLC174470 |
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|
|
|
Holding company of
BBDI LLC: |
Brooks Brothers Group Inc. (from 20-12-2012)
|
|
|
|
|
Subsidiary of Brooks
Brothers Group Inc.: |
· Golden Fleece Manufacturing Group, LLC (Division – Brooks Brothers Tie Factory) (from 20-12-2012) · Brook Brothers Retail Brand Alliance Europe SRL (from 20-12-2012) |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
21,600,000 |
Equity Shares |
Rs.10/- each |
Rs. 216.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2013 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
216.000 |
|
(b) Reserves & Surplus |
|
|
(31.751) |
|
(c) Money
received against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
184.249 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
|
0.000 |
|
(c) Other long term
liabilities |
|
|
0.000 |
|
(d) long-term
provisions |
|
|
0.069 |
|
Total Non-current
Liabilities (3) |
|
|
0.069 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
|
0.000 |
|
(b) Trade
payables |
|
|
9.884 |
|
(c) Other
current liabilities |
|
|
7.481 |
|
(d) Short-term
provisions |
|
|
0.001 |
|
Total Current
Liabilities (4) |
|
|
17.366 |
|
|
|
|
|
|
TOTAL |
|
|
201.685 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
|
|
9.239 |
|
(ii)
Intangible Assets |
|
|
0.000 |
|
0.(iii)
Capital work-in-progress |
|
|
16.554 |
|
(iv)
Intangible assets under development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
0.000 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
54.126 |
|
(e) Other
Non-current assets |
|
|
0.000 |
|
Total Non-Current
Assets |
|
|
79.919 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
|
97.790 |
|
(b)
Inventories |
|
|
17.320 |
|
(c) Trade
receivables |
|
|
0.288 |
|
(d) Cash
and cash equivalents |
|
|
2.051 |
|
(e)
Short-term loans and advances |
|
|
4.317 |
|
(f) Other
current assets |
|
|
0.000 |
|
Total
Current Assets |
|
|
121.766 |
|
|
|
|
|
|
TOTAL |
|
|
201.685 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
|
|
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
|
|
NA |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
|
|
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
|
|
(31.751) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
(6.65) |
|
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2013 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
|
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
7.01 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF LONG TERM DEBTS
|
Particulars |
|
|
31.03.2013 (Rs.
In Millions) |
|
|
|
|
|
|
Current maturities of finance lease obligations |
|
|
0.000 |
|
|
|
|
|
|
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 |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
No |
|
12] |
Profitability for last
one year |
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 |
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 |
No |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
INDEX OF CHARGES: NO CHARGES
EXIST FOR COMPANY
OPERATIONAL REVIEW:
Brooks Brothers Group, Inc is America’s oldest clothing retailer, an American Icon, an institution that has redefined and shaped classic American style for nearly two centuries.
During the year the Company entered into a Joint Venture Agreement with BBDI, LLC, subsidiary of Brooks Brothers Group, Inc and Reliance Brands Limited for sale of products under the proprietary marks under the Joint Venture Agreement and opened two Brooks Brothers stores in Delhi and Gurgaon.
CHANGE OF NAME:
After the close of the year, the name of the Company was changed from In Vogue Brand Solutions Private Limited to Brooks Brothers India Private Limited.
FIXED ASSETS
· Plant and equipment
· Furniture and fixtures
· Office equipment
· Other equipments
· Leasehold improvements
PRESS RELEASE
BROOKS BROTHERS LAUNCHES IN INDIA
January 30, 2013
NEW DELHI — Less than three months after it received approval from the Indiangovernment for foreign direct investment in single-brand retail, Brooks Brothers has opened the doors to its first store in Vasant Kunj, New Delhi.
More stores are in the works, with another five expected to open before the end
of the year, Darshan Mehta, president and chief executive officer of Reliance
Brands, Brooks Brothers’ joint-venture partner in India,
told WWD.
The initial investment is 60.2 million rupees, or $1.1 million at current
exchange, according to FIPD documents.
The second Brooks Brothers store will open in Gurgaon, which neighbors New
Delhi, this week, followed by stores in malls in Chandigarh in North India and
Chennai in South India. The stores in the Southern cities of Bangalore and
Hyderabad will be freestanding instead of within malls.
Mehta said that while the average size of the Brooks Brothers stores in India
would be 2,000 square feet, the unit in Chandigarh will be 3,800 square feet.
Mehta, who was joined at the opening by Paulette Garafalo, president of
international, wholesale and manufacturing at
Brooks Brothers, said the joint-venture team will operate all of the Indian
units. “We will open only company-owned and company-operated stores, not
franchises,” Mehta said.
India is part of Brooks Brothers’ global expansion plan. The company opened its
first store in Indonesia in December, and there are now 79 stores across China,
Hong Kong, Taiwan, Malaysia and Singapore, with sales in China growing at more
than 30 percent a year for the past few years, according to the executives.
“Even seven to eight years ago we were very underdeveloped globally,” said
Garafalo. “We really focused on being a domestic retailer with the exception
of Japan,
where we have been for 33 years. But in the last 10 years, we’ve gone all-out
to assess our global opportunities and find the right partners. We’re a
privately held company and we do everything long term.”
Brooks Brothers in India will price its products at approximately 10 to 12
percent higher than those in the U.S., with dress shirts starting
from 5,000 rupees, or $93.22, and will offer only men’s wear at the present time.
“We’re focusing on the men’s market, which is quite substantial,” Mehta said,
but once the stores are established, other product categories will be added.
Although the battle for the men’s market in India is heating up — Thomas Pink
recently opened its first store this year also in association with Reliance
Brands — Garafalo sees it as a growth opportunity.
“We see this as a tremendous opportunity and we are very focused on making it
work in India. There is a larger brand recognition for Brooks Brothers in India
than in many other Asian countries,” she said.
“We do not come to India with fear — we believe India is our future. We believe
that the Indian consumer wants authenticity and we bring American authenticity.
We are the purveyors of the white shirt and chinos, and we believe the Indian
man is going to receive us very well.”
Brooks Brothers, which has dressed presidents and celebrities in the U.S., is
also the partner of choice for men’s wear in the soon-to-be-released new
version of “The Great Gatsby” starringLeonardo
DiCaprio.
INDIA CLEARS ENTRY OF US RETAILER BROOKS BROTHERS
21 October 2012
NEW DELHI - India's foreign investment regulator on Friday cleared an application from US luxury-clothing retailer Brooks Brothers to set up stores for the first time in the booming South Asian market.
Brooks Brothers, the oldest US clothing retailer, announced in June a plan to set up a joint-venture with Reliance Brands, an arm of Reliance Industries controlled by India's wealthiest man Mukesh Ambani.
India's Foreign Investment Promotion Board announced in a statement it had cleared the application of the US high-end apparel retailer which introduced the first ready-to-wear suits in 1845.
Brooks Brothers is one of a clutch of foreign companies entering the $500-billion Indian retail market after moves by the government to open its doors wider to overseas investment.
There was no immediate comment from the company which has long links with India as it was the first US brand to bring chequered madras fabric from India to the United States in the 1920s.
The foreign investment board also cleared plans from Italian jewellery brand Damiani and British-based footwear retailer Pavers for investment in single-brand retail.
Clearance of the Brooks Brothers' application came as the world's largest coffee retailer Starbucks opened its first coffee outlet in the country in financial hub Mumbai.
BROOKS BROTHERS AND RELIANCE BRANDS LIMITED ANNOUNCE THE FORMATION OF A
NEW JOINT VENTURE IN INDIA
MUMBAI, India, June 5, 2012 -- Brooks Brothers Group, Inc. and Reliance Brands Limited, a part of the Reliance Industries Group, announced today the formation of a joint venture company in India.
Brooks Brothers is an American icon, an institution that has redefined and shaped classic American style for nearly two centuries, making it the country's oldest clothing retailer and the clothier of choice for nearly every US President as well as leaders in the worlds of business, the arts, finance and politics. Since introducing the first ready-to-wear suits in 1845, just ahead of the great Gold Rush, the company has continued this tradition of fashion innovation, excellent workmanship, personal service and exceptional value. In addition to their iconic dress shirts and suits, Brooks Brothers carries all apparel and accessory categories for men, women and children as well as a home line and a designer collection called Black Fleece by Brooks Brothers, designed by Thom Browne.
Mr. Claudio Del Vecchio, Chairman and CEO of Brooks Brothers, has said of the collaboration, "We have partnered with Reliance Brands Ltd. because of their passion for the Brooks Brothers brand, their track record with other premium brands, and their expertise and connections within India. We are incredibly fortunate to have them as partner as we enter this important retail market."
The Brooks Brothers flagship store is located at 346 Madison Avenue, New York City, a location it has held for almost a hundred years. As of 2011, Brooks Brothers is available at 210 locations in the United States and 200 in other countries, including Korea, Japan, China, Taiwan, Singapore, France, the United Kingdom, Chile, Canada, Italy, Mexico, and Greece. With the immense growth that has taken place in premium fashion retail combined with a heightened sartorial aesthetic of an aspirational Indian consumer, the Indian market is a natural next stop in the global expansion plans for Brooks Brothers.
Commenting on the partnership, Mr. Darshan Mehta, President and CEO, Reliance Brands Ltd. said, "By all accounts, Brooks Brothers is an immensely distinguished heritage brand that is forever woven into the history of American clothing. Today, it is a recognized name throughout the world and with its early hallmark of fine tailoring combined with contemporary appeal, it has much to offer consumers in India, many of whom have already been firm loyalists of the brand for years. In fact, Brooks Brothers has long roots with India and it is, in a way, a coming of full circle as it was the first American brand to bring madras from India to America back in the 1920s, re-defining casual wear of the time, and today, we bring Brooks Brothers to India."
Through this new joint venture, Brooks Brothers' products will be available in major cities across India through exclusive mono-brand stores which will carry the entire range of menswear and women's wear including clothing, sportswear, and accessories.
About Brooks Brothers
As America's oldest retailer, Brooks Brothers has long been a fashion
innovator. Established in 1818, Brooks Brothers was the first to offer
ready-to-wear clothing and has continued throughout history with iconic product
introductions including: seersucker, madras, the non-iron shirt and the
original button-down collar. Nearly two centuries later, Brooks Brothers is
proud to uphold the same traditions and values and to be the destination for ladies
and gentlemen from every generation. Since its founding 194 years ago
in New York, Brooks Brothers has become a legendary international retailer
while maintaining a steadfast commitment to exceptional service, quality, style
and value. www.brooksbrothers.com
About Reliance Brands
Limited
Reliance Brands Limited is part of the Reliance Industries Group. The company
began operations in October 2007 with a mandate to launch and build
international and domestic brand equity in the premium to luxury segment across
apparel, footwear and lifestyle businesses. Its current portfolio of brand
partnerships comprises of DIESEL, ERMENEGILDO ZEGNA, HAMLEYS, KENNETH
COLE, PAUL&SHARK, QUIKSILVER, ROXY, STEVE MADDEN,THOMAS PINK, TIMBERLAND
and over 25 brands that comprise the Iconix Brand Group, Inc.
About Reliance
Industries Limited
Reliance industries Limited (RIL) is India's largest private sector
company on all major financial parameters with a turnover of
Rs. 3397920.000 Millions ($ 66.8 billion), net profit of
Rs. 200400.000 Millions ($3.9 billion) and net worth of
Rs. 1660960.000 Millions (US$ 33.21 billion) as of March 31, 2012.RIL
is the first private sector company from India to feature in the
Fortune Global 500 list of 'World's Largest Corporations' and ranks 119th
amongst the world's Top 200 companies in terms of profits. RIL ranks 68th in
the Financial 'Times FT Global 500' list of the world's largest companies. RIL
is ranked amongst the '50 Most Innovative Companies - 2010' in the World in a
survey conducted by the US financial publication Business Week in collaboration
with the Boston Consulting Group (BCG). In 2010, BCG also ranked RIL as the
second highest 'Sustainable Value Creators' for creating the most shareholder
value over the decade in the world.
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.63.06 |
|
|
1 |
Rs.101.15 |
|
Euro |
1 |
Rs.84.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
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 |
|
32 |
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.