MIRA
INFORM REPORT
|
Report Date : |
27.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
HARISH ENTERPRISE PRIVATE LIMITED
|
|
|
|
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Formerly Known
As : |
HARISH ENTERPRISE LIMITED HARISH TEXTILE ENGINEERS LIMITED |
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Registered
Office : |
19, Parsi Panchayat Road, Andheri (East), Mumbai – 400069, Maharashtra
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
15.10.1970 |
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Com. Reg. No.: |
11-014840 |
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Capital
Investment / Paid-up Capital : |
Rs.2.010 Millions |
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|
CIN No.: [Company Identification
No.] |
U99999MH1970PTC014840 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Textile Manufacturing Machines. |
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No. of Employees
: |
75 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 240000 |
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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 an established company having a moderate track record. Management of the company has failed to file its latest financials of
2013 with government department. As per record of 2012, company has incurred loss from its operation. However, trade relations are fair. Business is active. Payment terms
are slow but correct. |
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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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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 PARTED BY
|
Name : |
Mr. Dhaval Shah |
|
Designation : |
Corporate Executive |
|
Contact No.: |
91-22-28367151 |
|
Date : |
25.11.2013 |
LOCATIONS
|
Registered Office : |
19, Parsi Panchayat Road, Andheri (East), Mumbai – 400069,
Maharashtra, India |
|
Tel. No.: |
91-22-40373000/ 28367151/ 2/ 3 |
|
Mobile No.: |
91-9322147407 (Mr. Pinkesh Upadhyay) |
|
Fax No.: |
91-22-40373000/ 28367150 |
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E-Mail : |
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|
Website : |
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|
Area : |
8000 sq. m. (2 Floor Bld) |
|
Location : |
Owned |
|
|
|
|
Factory : |
Survey 106, Raikhwadi, Sanjan Road, Umargaon, Taluka Vapi, District
Valsad - 396170, Gujarat, India |
|
Tel. No.: |
91-260-2564350 |
|
Fax No.: |
91-260-2562960 |
|
Area : |
7 to 8 Acres |
|
Location : |
Owned |
DIRECTORS
(AS ON 29.09.2012)
|
Name : |
Mr. Sandeep Kirtikumar Gandhi |
|
Designation : |
Director |
|
Address : |
6, Krishna, 11th N. S. Road, J.V.P.D.
Scheme, Vile Parle (West), Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
02.06.1964 |
|
Date of Appointment : |
01.09.1999 |
|
DIN No.: |
00941665 |
|
|
|
|
Name : |
Mr. Hitendra Chimanlal Desai |
|
Designation : |
Additional Director |
|
Address : |
Ratan Terrace, 2nd Floor, T, H. Kataria,
Marg, Matunga, Mumbai-400016, Maharashtra, India |
|
Date of Birth/Age : |
04.07.1962 |
|
Date of Appointment : |
21.03.2011 |
|
DIN No.: |
00452481 |
|
|
|
|
Name : |
Mr. Pinkesh Hasmukhlal Upadhyay |
|
Designation : |
Additional Director |
|
Address : |
B-501, Kanakia Niharika, Off Glady Alwaris Road, Near
Hiranandani Medow, Thane (East), Thane – 400607, Maharashtra, India |
|
Date of Birth/Age : |
02.11.1972 |
|
Date of Appointment : |
21.03.2011 |
|
DIN No.: |
03407477 |
|
|
|
|
Name : |
Mr. Kiran Kumar Ved |
|
Designation : |
Director |
|
Address : |
2301, Glen Height, Clift Avenue, Hiranandani
Gardens, Powai, Mumbai – 400076, Maharashtra, India |
|
Date of Birth/Age : |
03.07.1951 |
|
Date of Appointment : |
14.10.2004 |
|
DIN No.: |
02225041 |
|
|
|
|
Name : |
Mr. Nikhil Himatlal Gandhi |
|
Designation : |
Director |
|
Address : |
101, Panaroma, Green street, Santacruz (West),
Mumbai – 400054, Maharashtra, India |
|
Date of Birth/Age : |
20.06.1967 |
|
Date of Appointment : |
05.10.1992 |
|
DIN No.: |
00486263 |
|
|
|
|
Name : |
Mr. Kirti Shantilal Gandhi |
|
Designation : |
Managing director |
|
Address : |
6, Krishna, 11th N. S. Road,
J.V.P.D. Scheme, Vile Parle (West), Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
16.10.1938 |
|
Date of Appointment : |
22.09.1975 |
|
DIN No.: |
00485798 |
|
|
|
|
Name : |
Mr. Pradeepkumar Shivswaroop Pandey |
|
Designation : |
Whole-time director |
|
Address : |
888, Menzesvilla, Behind Nirankari Hall,
Valiv Village, Vasai (E), Thane -401208, Maharashtra, India |
|
Date of Birth/Age : |
29.06.1949 |
|
Date of Appointment : |
14.10.2004 |
|
DIN No.: |
00485989 |
KEY EXECUTIVES
|
Name : |
Mr. Dhaval Shah |
|
Designation : |
Corporate Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 29.09.2012)
|
Names of Shareholders |
|
No. of Shares |
|
Kumudben Himatlal Gandhi |
|
8470 |
|
Nikhil Himatlal Gandhi |
|
20080 |
|
Chhaya Nikhil Gandhi |
|
500 |
|
Kirti Shantilal Gandhi |
|
17770 |
|
Sandeep Kirtikiumar Gandhi |
|
9630 |
|
Niranjana Kiritkiumar Gandhi |
|
8250 |
|
Kirti Shantilal Gandhi (HUF) |
|
7720 |
|
Nikhil Himatlal Gandhi Kumudben Himatlal Gandhi |
|
9700 |
|
Kirti Shantilal Gandhi Niranjana Kiritkumar Gandhi |
|
12330 |
|
Hintlkal S. Gandhi (HUF) |
|
8450 |
|
Harendrabhai Shantilal Gandhi Arunaben Harendra Gandhi |
|
6900 |
|
Bhavnesh Harendrabhai Gandhi |
|
8000 |
|
Samir Harendrabhai Gandhi |
|
8000 |
|
Sangesh Investments and Trading Private Limited, India |
|
22240 |
|
Sanish Investments and Trading Private Limited, India |
|
19880 |
|
Pacific Harish Ind. Limited, India |
|
4700 |
|
Pacific Nickel Screen Private Limited, India |
|
19370 |
|
Nikhil Himatlal Gandhi Chhaya Nikhil Gandhi |
|
9010 |
|
|
|
|
|
Total |
|
201000 |
(AS ON 30.09.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
32.93 |
|
Directors or relatives of directors |
|
67.07 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Textile Manufacturing Machines. |
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Exports : |
|
|
Products : |
Machines |
|
Countries : |
· Indonesia · Bangladesh · Brazil |
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Imports : |
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Products : |
Components |
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Countries : |
· China · Germany |
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Terms : |
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Selling : |
L/C and Credit (30-60 days) |
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Purchasing : |
Credit (90 days) (T/T) |
GENERAL INFORMATION
|
Suppliers : |
· Vashi Electricals Limited |
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Customers : |
Manufacturer · Ruby Mills Limited |
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No. of Employees : |
75 (Approximately) |
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Bankers : |
· HDFC Bank Vashi Shopping Centre, Maharashtra, India · Bank of India SSI, Andheri (East), Mumbai – 400069, Maharashtra, India · State Bank of India Industrial Finance Branch, Andheri (East), Mumbai – 400069, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
M. D. Desai and Company Chartered Accountants |
|
Address : |
6/12, Trivedi Niwas, Old Nagardas Road, Andheri (East), Mumbai – 400069,
Maharashtra, India |
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PAN No.: |
AADPD2568B |
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|
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Associates/Subsidiaries : |
· Hari Textile Engineering Private Limited Address: 19, Parsi Panchayat Road, Andheri (East), Mumbai – 400069,
Maharashtra, India Activity: Manufacturer of Textile Manufacturing Machines. · Heatrans Manufacturing Company Private Limited Address: Baroda, Gujarat, India Activity: Manufacturer of Components.
|
CAPITAL STRUCTURE
(AS ON 29.09.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
201000 |
Equity Shares |
Rs.10/- each |
Rs.2.010
Millions |
|
|
|
|
|
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
2.010 |
2.010 |
|
(b) Reserves & Surplus |
|
57.725 |
86.241 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1)+(2) |
|
59.735 |
88.251 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
16.029 |
30.515 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
9.948 |
|
(c) Other long
term liabilities |
|
46.821 |
87.222 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
62.850 |
127.685 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
0.000 |
0.000 |
|
(b)
Trade payables |
|
102.752 |
77.840 |
|
(c)
Other current liabilities |
|
3.135 |
2.656 |
|
(d) Short-term
provisions |
|
4.961 |
5.924 |
|
Total Current Liabilities
(4) |
|
110.848 |
86.420 |
|
|
|
|
|
|
TOTAL |
|
233.433 |
302.356 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
72.256 |
75.589 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
1.598 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
1.778 |
1.778 |
|
(c) Deferred tax assets (net) |
|
2.145 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
76.179 |
78.965 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current
investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
29.660 |
85.234 |
|
(c)
Trade receivables |
|
60.014 |
70.125 |
|
(d) Cash
and cash equivalents |
|
5.733 |
5.042 |
|
(e)
Short-term loans and advances |
|
0.000 |
0.000 |
|
(f) Other
current assets |
|
61.847 |
62.990 |
|
Total
Current Assets |
|
157.254 |
223.391 |
|
|
|
|
|
|
TOTAL |
|
233.433 |
302.356 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
2.010 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
88.771 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
90.781 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
50.944 |
|
|
2] Unsecured Loans |
|
|
59.987 |
|
|
TOTAL BORROWING |
|
|
110.931 |
|
|
DEFERRED TAX LIABILITIES |
|
|
10.999 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
212.711 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
74.390 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
10.778 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
85.885 |
|
|
Sundry Debtors |
|
|
94.255 |
|
|
Cash & Bank Balances |
|
|
5.477 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
70.481 |
|
Total
Current Assets |
|
|
256.098 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
122.297 |
|
|
Other Current Liabilities |
|
|
0.000 |
|
|
Provisions |
|
|
6.258 |
|
Total
Current Liabilities |
|
|
128.555 |
|
|
Net Current Assets |
|
|
127.543 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
212.711 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
376.619 |
380.927 |
|
|
|
|
Other Income |
1.185 |
0.793 |
|
|
|
|
TOTAL (A) |
377.804 |
381.720 |
338.337 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
NA |
369.137 |
321.246 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
12.583 |
17.091 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
6.543 |
8.434 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(30.839) |
6.040 |
8.657 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
8.957 |
9.335 |
8.034 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE TAX (E-F) (G) |
(39.796) |
(3.295) |
0.623 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
NA |
(0.981) |
(0.890) |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
NA |
(2.314) |
1.513 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
10.202 |
5.930 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Income – Tax Written off |
NA |
0.216 |
3.134 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
7.672 |
10.202 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
112.704 |
45.489 |
60.772 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Components, Spare and Consumable |
13.189 |
3.238 |
2.401 |
|
|
TOTAL IMPORTS |
13.189 |
3.238 |
2.401 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
NA |
(11.51) |
-- |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
257.900 |
|
|
|
|
(Less Export) |
The above information has been parted by Mr. Dhaval Shah.
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
NA
|
(0.61) |
0.45 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(10.57)
|
(0.86) |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(17.34)
|
(1.10) |
0.19 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.67)
|
(0.04) |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.27
|
0.35 |
1.22 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.42
|
2.58 |
1.99 |
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
----- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm / promoter
involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
No |
|
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 |
OPERATIONS
The Company has achieved aggregate turnover
of Rs.376.619 Millions during the year as against turnover of Rs.380.927
Millions during the previous year, and net loss after tax and depreciation
Rs.39.796 Millions as against loss of Rs.3.295 Millions during the previous
year. It will be endeavor of the directors to give yet improved performance of
the Company in the coming years.
TRADE REFERENCE:
· Ruby Mills Limited
· Vashi Electricals Limited
INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY.
FIXED ASSETS:
· Land
· Leasehold Land
· Building
· Plant and Machinery
· Furniture and Fixtures
· Vehicles
· Factory Shed – WIP
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.62.45 |
|
|
1 |
Rs.100.86 |
|
Euro |
1 |
Rs.84.50 |
INFORMATION DETAILS
|
Information Gathered
by : |
HNA |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
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 |
|
30 |
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.