|
Report Date : |
25.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
RADIANT POLYMERS PRIVATE LIMITED |
|
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|
Registered
Office : |
17, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
05.08.1988 |
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|
Com. Reg. No.: |
55-032685 |
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Capital
Investment / Paid-up Capital : |
Rs. 19.954 Millions |
|
|
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|
CIN No.: [Company Identification
No.] |
U74899DL1988PTC032685 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Moulded Engineering Plastic Components. |
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|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 700000 |
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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 an established company having a satisfactory track record. The management has failed to file its financial information with
government department for the year 2013. As per available financial of 2012, profit and sales turnover of the
company appears to be fair. Trade relations are reported to be fair. Business is active. Payments
are reported to be usually correct. The company can be considered for 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
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 DENIED
Management Non Cooperative. (91-120-4537200)
LOCATIONS
|
Registered Office : |
17, |
|
Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Head Office/ Plant 1 : |
A-4/7-8, Site IV, Sahibabad Industrial Estate, District Ghaziabad,
Uttar Pradesh – 201010, India |
|
Tel. No.: |
91-120-4537200 |
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Fax No.: |
91-120-2896206 |
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|
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|
Plant 2 : |
Plot No 13 A, Sector 2A, Integrated Industrial Estate, Rudrapur,
District, U.S. Nagar – 263153, Uttarakhand, India |
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|
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Plant 3 : |
Plot No F – 591,592 Industrial Area, Phase – I, Bhiwandi, Diatrict –
Alwar, |
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Tel. No.: |
91-120-4537200 |
DIRECTORS
As on: 28.09.2012
|
Name : |
Kumud Jayee |
|
Designation : |
Director |
|
Address : |
B – 106, Sector – 31, Gautam Budh nagar, Noida –
201301, Uttar Pradesh, India |
|
Date of Birth/Age : |
07.06.1956 |
|
Date of Appointment : |
05.08.1988 |
|
DIN No.: |
00055684 |
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|
|
|
Name : |
Mr. Nalin Bahl |
|
Designation : |
Director |
|
Address : |
House No. 1, Road No. 41, Punjabi Bagh West, New Delhi – 110026, India
|
|
Date of Birth/Age : |
30.01.1954 |
|
Date of Appointment : |
05.08.1988 |
|
DIN No.: |
00055730 |
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|
Name : |
Mr. Nitin Bahl |
|
Designation : |
Director |
|
Address : |
1/41, Punjabi Bagh West, New Delhi – 110026, India |
|
Date of Birth/Age : |
17.10.1980 |
|
Date of Appointment : |
15.02.2007 |
|
DIN No.: |
01121465 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Kumud Jayee |
|
99769 |
|
Nalin Bahl |
|
99286 |
|
Pratibha Bahl |
|
483 |
|
Total |
|
199538 |
Equity Share Break up (Percentage of Total Equity)
As on: 28.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Information declined by the management. |
PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
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|
Plastic Components, Moulds and Dies. |
Pieces |
247500000 |
222750000 |
215894959 |
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GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
· Canara Bank, Sahibabad, Ghaziabad, Uttar Pradesh, India · Allahabad Bank, A -6, Sector10, Noida – 201301, Uttar Pradesh, India · HDFC Bank Limited · IDBI Bank Limited · ICICI Bank Limited |
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Facilities : |
(Rs.
In Millions)
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|||||||||||||||||||||
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Banking
Relations : |
-- |
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Financial
Instutition: |
Electronica Finance Limited, 128/A, Plot No.3,Kailashchandra Appartments,, Paud Road, Kothrud, Pune - 411038, Maharashtra, India |
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Auditors : |
|
|
Name : |
S. Bahl and company Chartered Accountants |
|
Address : |
17, Barakhamba Road, Vijaya Building, L.G. Floor 69-70, New Delhi –
110001, India |
|
Tel. No.: |
91-11-23321536 |
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Fax No.: |
91-11-23350662 |
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E-Mail : |
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PAN No. .: |
AAIFS7562B |
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Associates/Subsidiaries : |
Radiant Complast Private Limited |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
800000 |
Equity Shares |
Rs.100/- each |
Rs. 80.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
199538 |
Equity Shares |
Rs.10/- each |
Rs. 19.954
Millions |
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|
|
|
|
Reconciliation of number of equity shares
|
Number of shares outstanding at the beginning |
199538 |
|
Add: Shares Issued during the year |
- |
|
Number of Shares at the end of the year |
199538 |
Rights, preferences and restrictions attached to the shares
The company has one class of equity shares having a par value of Rs. 100 per share. Each shareholder is eligible for one vote per share held. In the event of liquidation, the equity shareholders are eligible to receive the remaining asset of the company after distribution of all preferential amount in proportion to their shareholding.
Details of shareholders holding more than 5 % equity shares
|
Particular |
No. of Shares |
% |
|
Nalin Bahl |
99286 |
49.76 |
|
Kunsud Jaee |
99761 |
50.00 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
19.954 |
19.954 |
19.953 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
156.232 |
136.549 |
119.948 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
176.186 |
156.503 |
139.901 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
223.378 |
220.682 |
188.055 |
|
|
2] Unsecured Loans |
97.512 |
106.470 |
94.740 |
|
|
TOTAL BORROWING |
320.890 |
327.152 |
282.795 |
|
|
DEFERRED TAX LIABILITIES |
5.043 |
5.173 |
4.788 |
|
|
|
|
|
|
|
|
TOTAL |
502.119 |
488.828 |
427.484 |
|
|
|
|
|
|
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|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
264.952 |
255.619 |
247.386 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
10.050 |
10.050 |
0.050 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
198.020
|
187.167
|
153.205
|
|
|
Sundry Debtors |
131.870
|
121.429
|
131.950
|
|
|
Cash & Bank Balances |
27.987
|
13.312
|
14.282
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
60.948
|
58.696
|
59.348
|
|
Total
Current Assets |
418.825
|
380.604
|
358.785
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
151.004
|
105.278
|
130.628
|
|
|
Other Current Liabilities |
24.498
|
40.185
|
41.874
|
|
|
Provisions |
16.206
|
11.982
|
6.232
|
|
Total
Current Liabilities |
191.708
|
157.445
|
178.734
|
|
|
Net Current Assets |
227.117
|
223.159
|
180.048
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
502.119 |
488.828 |
427.484 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
|
|
|
|
SALES AND JOB
WORK CHARGES |
844.872 |
771.229 |
760.501 |
|
|
|
|
|
|
|
|
|
|
TOTAL EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
55.673 |
53.534 |
48.648 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
31.072 |
29.710 |
26.512 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
24.602 |
23.824 |
22.135 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
4.920 |
7.223 |
0.227 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
19.682 |
16.601 |
21.908 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
Export Sales (Net) |
57.949 |
88.328 |
109.501 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
75.642 |
25.525 |
117.245 |
|
|
|
Stores & Spares |
0.131 |
0.050 |
0.361 |
|
|
|
Capital Goods |
28.530 |
22.511 |
6.651 |
|
|
TOTAL IMPORTS |
104.303 |
48.086 |
124.257 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
98.64 |
83.20 |
27.38 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.59
|
3.75 |
6.16
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14
|
0.15 |
0.15
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.82
|
2.09 |
2.02
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.18
|
2.42 |
2.01
|
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
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 |
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 |
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 |
No |
OPERATING AND
PROSPECTS
The Grass Sales of the Company grew by 9.55% as compared to previous year. The Turnover of the Company has increased to Rs. 844.782 Millions as Compared to the last year turnover i.e. Rs. 771.229 Millions and profit before tax Increased from the previous year figure of Rs. 23.824 Millions to Rs. 24.602 Millions. It is expected that the company’s policies and business strategies to have high quality products with competitive cost will continue to enable it, to strengthen its position both in domestic as well as In international market. The Directors are optimistic for future.
BACKGROUND
Subject is a private Limited Company and incorporated on August 05, 1988, Under the provision of the Indian Companies Act, 1956, The Company is mainly in the business of manufacture of Moulded Engineering Plastic Components, The accounts are for the year commencing from April 2011 to March 31, 2012.
UNSECURED LOAN
(Rs in Millions)
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Term Loans fron Bank |
3.018 |
4.106 |
|
Loan and Advances from others |
82.200 |
87.729 |
|
Loan and Advances from Directors |
12.294 |
12.693 |
|
From Bank |
0.000 |
1.942 |
|
Total |
97.512 |
106.470 |
NOTE:
·
Unsecured term loan from bank is repayable over the
period of 3 years and carries interest rate of 18% p.a.
·
Unsecured loan from other parties is repayable over
the period of 5 years and carries interest rate of 14.75% to 18% p.a.
· Negative bank balance of current bank account in books of accounts is due to cheque issued by the company as per the normal business practice
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10452840 |
25/09/2013 |
15,788,082.00 |
ELECTRONICA FINANCE LIMITED |
128/A, Plot No.3, Kailashchandra Appartments, Paud Road, Kothrud, Pune, Maharashtra - 411038, INDIA |
B86568839 |
|
2 |
10374627 |
24/08/2012 |
4,929,764.00 |
ELECTRONICA FINANCE LIMITED |
128/A, Plot No.3, Kailashchandra Appartments,, Paud Road, Kothrud, Pune, Maharashtra - 411038, INDIA |
B57341703 |
|
3 |
10343316 |
18/02/2012 |
2,030,055.00 |
ELECTRONICA FINANCE LIMITED |
128/A, Plot No.3,Kailashchandra Appartments, Paud Road, Kothrud, Pune, Maharashtra - 411038, INDIA |
B35512367 |
|
4 |
10216966 |
05/12/2011 * |
318,900,000.00 |
ALLAHABAD BANK |
A-6 SECTOR-10, NOIDA, NOIDA, Uttar Pradesh - 201301, INDIA |
B27917426 |
|
5 |
10219810 |
23/03/2010 |
293,350,000.00 |
ALLAHABAD BANK |
A-6, SECTOR 10, NOIDA, NOIDA, Uttar Pradesh - 201301, INDIA |
A85507929 |
* Date of charge modification
FIXED ASSETS
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.02 |
|
|
1 |
Rs.102.04 |
|
Euro |
1 |
Rs.84.92 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Report Prepared
by : |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
45 |
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.