MIRA
INFORM REPORT
|
Report Date : |
29.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
TATA COMMUNICATIONS PAYMENT SOLUTIONS LIMITED (w.e.f.
03.01.2013) |
|
|
|
|
Formerly Known
As : |
TATA COMMUNICATIONS BANKING INFRASOLUTIONS LIMITED |
|
|
|
|
Registered
Office : |
Plot C 21 and C 36, G Block, Brandra Kurla Complex, Mumbai – 400098, Maharashtra
|
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
28.02.2008 |
|
|
|
|
Com. Reg. No.: |
11-179551 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 750.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72900MH2008PLC179551 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMB18377C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCB3924G |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing infrastructure services to the Banking and
Financial Services Industry. |
|
|
|
|
No. of Employees
: |
Information Decline by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 350000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “Tata
Communications Limited”. It is an established company having satisfactory
track record. There appears huge accumulated losses recorded by the company during
the financial year 2012. However, the rating reflects the unconditional and irrevocable
corporate guarantee extended by “Tata
Communications Limited”. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct. In view of strong holding, the company can be considered for business
dealings at usual trade terms and conditions. Note: Latest
financial for the year 2013 is not available with us. |
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Bank facilities: (AA + SO) |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
11.11.2013 |
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
Tel. No.: 91-22-66591966
LOCATIONS
|
Registered Office : |
Plot C 21 and C 36, G Block, Brandra Kurla Complex, Mumbai – 400098, Maharashtra,
India |
|
Tel. No.: |
91-22-66591966 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on: 08.08.2013
|
Name : |
Mr. Satish Gopal Ranade |
|
Designation : |
Director |
|
Address : |
15/9, JPM, Society, Ramdas Road, Mulund (East), Mumbai – 400081, Maharashtra,
India |
|
Date of Birth/Age : |
14.09.1953 |
|
Qualification : |
C.S. / LLB |
|
Date of Appointment : |
28.02.2008 |
|
DIN No.: |
00058116 |
|
|
|
|
Name : |
Mr. Sanjay Govind Baweja
|
|
Designation : |
Director |
|
Address : |
H. No. 29, Street No. 11, Rajinder Nagar, New Delhi – 110060, India |
|
Date of Birth/Age : |
11.10.1960 |
|
Qualification : |
C.A. |
|
Date of Appointment : |
31.07.2009 |
|
DIN No.: |
00362918 |
|
|
|
|
Name : |
Mr. Srinivasa Rao Addepalli |
|
Designation : |
Director |
|
Address : |
1002, Dosti Daisy, Dosti
Acres Near Antop Hill, Wadala
(East), Mumbai – 400030, Maharashtra, India |
|
Date of Birth/Age : |
23.03.1975 |
|
Qualification : |
B.E. / MBA (IIM Ahmedabad) |
|
Date of Appointment : |
28.02.2008 |
|
DIN No.: |
00232126 |
KEY EXECUTIVES
|
Name : |
Mr. Rishabh Nath Aditya |
|
Designation : |
Secretary |
|
Address : |
A-604, Dheeraj Gaurav,
Heights – II, Off. New Link Road, Andheri (West),
Mumbai – 400053, Maharashtra, India |
|
Date of Birth/Age : |
26.01.1970 |
|
Date of Appointment : |
24.07.2012 |
|
PAN No.: |
AACPA4865F |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 08.08.2013
|
Names of Shareholders |
|
No. of Shares |
|
Tata Communications Limited, India |
|
332713685 |
|
Tata Communications Limited, India Jointly
Held with Satish Gopal Ranade |
|
100 |
|
Tata Communications Limited, India Jointly
Held with Srinivasa Rao Addepalli |
|
100 |
|
Tata Communications Limited, India Jointly
Held with Rishabh Nath Aditya |
|
100 |
|
Tata Communications Limited, India Jointly
Held with Aroon Dasappa |
|
100 |
|
Tata Communications Limited, India Jointly
Held with Shrivastav Shrivastav
|
|
100 |
|
Tata Communications Limited, India Jointly
Held with Ashok Someshwar
|
|
100 |
|
|
|
|
|
Total |
|
332714285 |
As on: 30.09.2013
|
Names of Allottees |
|
No. of Allottees |
|
Tata Communications Limited, India |
|
10000000 |
|
|
|
|
|
Total |
|
10000000 |
Equity Share Break up (Percentage of Total Equity)
As on: 08.08.2013
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing infrastructure services to the Banking and
Financial Services Industry. |
||||
|
|
|
||||
|
Products: |
|
GENERAL INFORMATION
|
No. of Employees : |
Information Decline by the management |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
Not Available |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
(Rs. In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
12, Dr. Annie, Besant Road, Opposite Shiv Sagar Estate, Worli, Mumbai - 400 015, Maharashtra, India |
|
PAN No.: |
AACFD4815A |
|
|
|
|
Holding Company: |
· Tata Communications Limited L64200MH1986PLC039266 |
|
|
|
|
Joint Venture of
Holding Company: |
· United Telecom Limited |
|
|
|
|
Joint Venture /
Associate of Holding Company: |
· SEPCO Communications Pty Limited (till 11 April 2011) · Neotel (Pty) Limited (till 11 April 2011) |
|
|
|
|
Investing Parties
(Promoters) of Holding Company: |
· Panatone Finvest Limited · Tata Sons Limited |
|
|
|
|
Subsidiaries: |
· Tata Communications Transformation Services Limited · Tata Communications Lanka Limited · Tata Communications International Pte. Limited · VSNL SNOSPV Pte Limited · S&A Internet Services Private Limited · Tata Communications (Australia) Pty Limited · Tata Communications (America) Inc.# · Tata Communications (Belgium) SPRL · Tata Communications (Bermuda) Limited · Tata Communications Services (Bermuda) Limited · Tata Communications (Canada) Limited · Tata Communications (France) SAS · Tata Communications Deutschland GmbH · Tata Communications (Guam) LLC · Tata Communications (Hong Kong) Limited · Tata Communications (Hungary) LLC · Tata Communications (Ireland) Limited · Tata Communications (Italy) S.r.l · Tata Communications (Japan) KK · ITXC IP Holdings S.ar.l · Tata Communications (Netherlands) B.V. · Tata Communications (Poland) Sp. z oo · Tata Communications (Portugal) Unipessoal LDA · Tata Communications (Portugal) Instalacao E Manutencao De Redes LDA · Tata Communications (Puerto Rico) Inc · Tata Communications (Russia) LLC · Tata Communications Services (International) Pte. Limited · Tata Communications (Sweden) AB · Tata Communications (Switzerland) GmbH · Tata Communications (UK) Limited · TCPoP Communication GmbH · Tata Communications (Middle East) FZ-LLC · Tata Communications (Taiwan) Limited · BitGravity Inc. · Neotel (Pty) Limited (Fellow subsidiary w.e.f 11 April 2011) · SEPCO Communications Pty Limited (Fellow Subsidiary w.e.f 11 April 2011) · Videsh Sanchar Nigam Spain S. L. · Tata Communications (Nordic) AS · Tata Communications (New Zealand) Limited · Tata Communications (Malaysia) Sdn. Bhd. · Tata Communications Services (America) Inc. (Upto 31 March 2011) |
CAPITAL STRUCTURE
After: 08.08.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000000 |
Equity Shares |
Rs.10/- each |
Rs. 10000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
342714285 |
Equity Shares |
Rs.10/- each |
Rs.
3427.142 Millions |
|
|
|
|
|
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000000 |
Equity Shares |
Rs.10/- each |
Rs. 10000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
75000000 |
Equity Shares |
Rs.10/- each |
Rs. 750.000
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 |
|
750.000 |
750.000 |
|
(b) Reserves & Surplus |
|
(661.355) |
(269.521) |
|
(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) |
|
88.645 |
480.479 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
|
670.000 |
670.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long
term liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
13.434 |
4.350 |
|
Total Non-current
Liabilities (3) |
|
683.434 |
674.350 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
181.500 |
0.053 |
|
(b)
Trade payables |
|
887.656 |
210.923 |
|
(c) Other
current liabilities |
|
26.595 |
77.289 |
|
(d) Short-term
provisions |
|
1.568 |
0.103 |
|
Total Current
Liabilities (4) |
|
1097.319 |
288.368 |
|
|
|
|
|
|
TOTAL |
|
1869.398 |
1443.197 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
388.527 |
335.880 |
|
(ii)
Intangible Assets |
|
4.510 |
1.766 |
|
(iii)
Capital work-in-progress |
|
6.348 |
7.003 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax
assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
362.314 |
246.317 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
761.699 |
590.966 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
304.515 |
|
(b)
Inventories |
|
0.000 |
0.000 |
|
(c)
Trade receivables |
|
533.412 |
160.387 |
|
(d) Cash
and cash equivalents |
|
136.952 |
12.100 |
|
(e)
Short-term loans and advances |
|
290.308 |
329.204 |
|
(f)
Other current assets |
|
147.027 |
46.025 |
|
Total
Current Assets |
|
1107.699 |
852.231 |
|
|
|
|
|
|
TOTAL |
|
1869.398 |
1443.197 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.500 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(100.630) |
|
|
NETWORTH |
|
|
(100.130) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
245.767 |
|
|
TOTAL BORROWING |
|
|
245.767 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
145.637 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
163.392 |
|
|
Capital work-in-progress |
|
|
181.651 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
18.716 |
|
|
Cash & Bank Balances |
|
|
0.893 |
|
|
Other Current Assets |
|
|
32.290 |
|
|
Loans & Advances |
|
|
16.905 |
|
Total
Current Assets |
|
|
68.804 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
239.484 |
|
|
Other Current Liabilities |
|
|
13.399 |
|
|
Provisions |
|
|
15.327 |
|
Total
Current Liabilities |
|
|
268.210 |
|
|
Net Current Assets |
|
|
(199.406) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
145.637 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1699.554 |
411.184 |
50.286 |
|
|
|
Other Income |
7.692 |
2.254 |
6.480 |
|
|
|
TOTAL (A) |
1707.246 |
413.438 |
56.766 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
0.000 |
|
|
|
|
|
Employee benefit expense |
176.363 |
104.216 |
|
|
|
|
Other expenses |
1802.967 |
387.477 |
|
|
|
|
TOTAL (B) |
1979.330 |
503.601 |
135.987 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(272.084) |
(90.163) |
(79.221) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
68.904 |
38.575 |
9.152 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(340.988) |
(128.738) |
(88.373) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
50.846 |
40.154 |
11.018 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(391.834) |
(168.892) |
(99.391) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(391.834) |
(168.892) |
(99.391) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(269.521) |
(100.629) |
(1.238) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(661.355) |
(269.521) |
(100.629) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(5.22) |
(50.63) |
(1987.82) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(22.95) |
(40.86) |
(175.09) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(23.06) |
(41.08) |
(197.65) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(21.03) |
(11.76) |
(42.81) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(4.42) |
(0.35) |
(0.99) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth)
|
|
9.61 |
1.40 |
(2.46) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.01 |
2.96 |
0.26 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS: NOT AVAILABLE
|
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 |
No |
|
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 |
Yes |
UNSECURED LOAN
(Rs. In Millions)
|
Particulars |
As on 31.03.2012 |
As on 31.03.2011 |
|
Short term
borrowings |
|
|
|
Loans and advances from directors |
181.500 |
0.053 |
|
|
|
|
|
Total |
181.500 |
0.053 |
STRATEGIC OVERVIEW
AND OPERATIONS
The Company was incorporated with an object to be in the business of providing infrastructure services to the Banking and Financial Services Industry. The services and solutions offered by the Company include those relating to automated teller machines (ATM), electronic transaction processing solutions (ETPS), core banking solutions (CBS) and other equipment which could be used for banking operations. The Company is actively engaging the banks for using its unique Pay per Use service model and has commenced commercial operations with effect from 1st April, 2009. The Company has put in place a highly experienced team of professionals from the banking and financial services industry for managing the operations of the company.
Note: No Charges Exist for Company
FIXED ASSETS
· Land and Buildings
· Plant and equipment
· Office equipment
· Computer Equipments
· Other Equipments
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 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. 62.39 |
|
|
1 |
Rs. 101.80 |
|
Euro |
1 |
Rs. 84.75 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
47 |
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.