MIRA
INFORM REPORT
|
Report Date : |
05.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
ACCEL LIMITED |
|
|
|
|
Formerly Known
As : |
ACCEL AUTOMATION PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No.124, 3rd Floor, Nelson Manickam Road, Aminjikaran,
Chennai – 600029, Tamil Nadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
13.03.1991 |
|
|
|
|
Com. Reg. No.: |
18-020471 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 32.250
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29309TN1991PLC020471 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Investment Activities. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1300000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. Latest financial for the year 2012 is not available. As per the
financial to 2011 there appears some dip in the revenue and profit of the company.
However, trade relations are reported as fair. Business is active.
Payments terms are unknown. The company 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.
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
We are living in a world
where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once
powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and the
US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in
agriculture, industry and services. Dampening sentiment led to a cut-back in
investment as well as private consumption expenditure. Inflation remained
at high levels fuelled by the pressure from the food and fuel sectors. The
large fiscal and current account deficit s continued to cause grave concern. It
is imperative that India regains its growth trajectory of 8-9 % sooner than
later. This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
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.
LOCATIONS
|
Registered Office : |
No.124, 3rd Floor, Nelson Manickam Road, Aminjikaran,
Chennai – 600029, Tamil Nadu, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
75, Nelson Manickam Road,
Aminjikarai, Chennai 600029, India |
|
Tel. No.: |
91-44-23741856 |
|
Fax No.: |
91-44-23741271 |
|
E-Mail : |
|
|
|
|
|
Overseas Office : |
Located at: · Bangalore · Delhi · Mumbai · Singapore · UAE |
DIRECTORS
As on: 30.09.2012
|
Name : |
Mr. Narayanan Reghootham Panicker |
|
Designation : |
Director |
|
Address : |
Al, 109, 8™ Main Road, Anna Nagar (West), Chennai – 600040, Tamilanadu, India |
|
Date of Birth/Age : |
12.08.1954 |
|
Date of Appointment : |
13.03.1991 |
|
DIN No.: |
00236198 |
|
|
|
|
Name : |
Mr. Trivikrama Sadananda Prabhu |
|
Designation : |
Director |
|
Address : |
1132B, I Block, 34 M Street, Anna Nagar (West), Chennai – 600040, Tamilanadu, India |
|
Date of Birth/Age : |
17.02.1956 |
|
Date of Appointment : |
17.08.1996 |
|
DIN No.: |
00235975 |
|
|
|
|
Name : |
Mr. Chandrasekaran Ramakrishnan Kolumam |
|
Designation : |
Additional director |
|
Address : |
985/1, Lakshmanaswamy Salai, K.K. Nagar, Chennai – 600078, Tamilanadu, India |
|
Date of Birth/Age : |
03.06.1953 |
|
Date of Appointment : |
07.03.2008 |
|
DIN No.: |
00212855 |
|
|
|
|
Name : |
Mr. Ganesh Ramamoorthi |
|
Designation : |
Director |
|
Address : |
Flat - F2, Anugraha Apartments,, 9/A2, Kumaran Colony 7™ Street, Vadapalani, Chennai – 600026, Tamilanadu, India |
|
Date of Birth/Age : |
13.06.1962 |
|
Date of Appointment : |
24.11.2000 |
|
DIN No.: |
00236772 |
|
|
|
|
Name : |
Mr. Maqbool Hassan Payaningal |
|
Designation : |
Additional director |
|
Address : |
Flat GB, 'B' Block, Sterling Tarasri, K.K. Nagar, Chennai – 600001, Tamilanadu, India |
|
Date of Birth/Age : |
25.05.1965 |
|
Date of Appointment : |
07.03.2008 |
|
DIN No.: |
01216043 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Gayathri L |
|
6300 |
|
Lakshmipathi R |
|
104700 |
|
Jayshree R |
|
40000 |
|
Gangadevi B |
|
22500 |
|
Padmavathi. C |
|
9000 |
|
Sunny Toms |
|
500 |
|
Austin Paul |
|
81000 |
|
Maqbool Hassan |
|
100000 |
|
Padmakumar S K |
|
5000 |
|
Abdul Salam N M |
|
5000 |
|
Shanthi Chandrasekaran |
|
6000 |
|
Panicker N R |
|
1087200 |
|
Sreekumari Panicker |
|
400000 |
|
Hari Krishna R |
|
400000 |
|
Shruthi Panicker |
|
400000 |
|
Ganesh R |
|
171000 |
|
R. Ganesh |
|
129000 |
|
Aruna T Prabhu |
|
80000 |
|
Sachin T. Prabhu |
|
10000 |
|
Prabhu S T |
|
10000 |
|
Surendran T V |
|
20000 |
|
T. R. Sahasranaman Iyer |
|
19800 |
|
Jayasekhar P K |
|
12500 |
|
Ramesan M |
|
42500 |
|
Sugata Mitra |
|
63000 |
|
Total |
|
3225000 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2012
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
87.31 |
|
Other top fifty shareholders |
|
12.69 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Investment Activities. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||
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|
||||||||||||||||||
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Bankers : |
· City Union Bank Limited, 706, Anna Salai, Mount Road, Chennai - 600006, Tamil Nadu, India · The Federal Bank Limited, 25, Nelson Manickam Road, Rajaram Mehta Nagar, Chennai - 600029, Tamil Nadu, India · State Bank of India, Industrial Finance Branch, No. 155, Anna Salai, Chennai – 600002, Tamilnadu, India |
||||||||||||||||||
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||||||||||||||||||
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Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S. K. Ram Associates Chartered Accountants |
|
Address : |
Old No. 58-A, New No. 103, P.S. Sivaswamy Salai, Mylapore, Chennai –
600004, Tamilnadu, India |
|
PAN No.: |
ACQPB9059C |
|
|
|
|
Associates/Subsidiaries : |
·
Accel Tele. Net Limited CIN
No.: U64201TN2000PLC044470 ·
Accel Media Ventures Limited CIN
No.: U74999TN1987PLC014976 ·
Accel IT Resources Limited CIN
No.: U80903TN2007PLC062824 ·
Accel Frontline Services Limited CIN
No.: U72200TN1995PLC075982 ·
Accel Systems Group Inc ·
Accel Frontline Limited ·
Accel Transmatic Limited |
CAPITAL STRUCTURE
As on: 30.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000000 |
Equity Shares |
Rs.10/- each |
Rs. 60.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3225000 |
Equity Shares |
Rs.10/- each |
Rs. 32.250
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
32.250 |
32.250 |
32.250 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
298.812 |
291.216 |
270.663 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
331.062 |
323.466 |
302.913 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
27.720 |
16.025 |
9.764 |
|
|
2] Unsecured Loans |
0.000 |
1.200 |
0.000 |
|
|
TOTAL BORROWING |
27.720 |
17.225 |
9.764 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
358.782 |
340.691 |
312.677 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
61.505 |
10.111 |
11.824 |
|
|
Capital work-in-progress |
0.000 |
0.676 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
235.215 |
214.673 |
155.993 |
|
|
DEFERREX TAX ASSETS |
7.311 |
7.310 |
7.311 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
0.561
|
0.956 |
0.475 |
|
|
Cash & Bank Balances |
2.886
|
1.287 |
16.707 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
70.297
|
112.989 |
126.444 |
|
Total
Current Assets |
73.744
|
115.232 |
143.626 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.046
|
|
6.077 |
|
|
Other Current Liabilities |
18.947
|
7.265 |
|
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
18.993
|
7.311 |
6.077 |
|
|
Net Current Assets |
54.751
|
107.921 |
137.549 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
358.782 |
340.691 |
312.677 |
|
%2005-Oct-2013_files/image001.gif){kind=small}
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
17.622 |
22.888 |
26.889 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
4.581 |
0.891 |
3.964 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
13.041 |
21.997 |
22.925 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
5.238 |
0.957 |
0.330 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
7.803 |
21.040 |
22.595 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.207 |
0.488 |
0.337 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
7.596 |
20.552 |
22.258 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.097 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
7.596 |
20.552 |
22.161 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
251.959 |
231.407 |
227.542 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
10.750 |
|
|
|
Dividend |
0.000 |
0.000 |
6.450 |
|
|
|
Tax on Dividend |
0.000 |
0.000 |
1.096 |
|
|
BALANCE CARRIED
TO THE B/S |
259.555 |
251.959 |
231.407 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.36 |
6.37 |
-- |
|
%2005-Oct-2013_files/image002.gif){kind=small}
%2005-Oct-2013_files/image003.gif){kind=small}
%2005-Oct-2013_files/image004.gif){kind=small}
%2005-Oct-2013_files/image005.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
42.95 |
89.79 |
82.41 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.61 |
16.40 |
14.31 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02 |
0.06 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.08 |
0.05 |
0.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.88 |
15.76 |
23.64 |
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 |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2011 |
As on 31.03.2010 |
|
Loan from director |
0.000 |
1.200 |
|
|
|
|
|
Total |
0.000 |
1.200 |
REVENUE OF
OPERATION
The company's main line of business is only investment activities and all Diner operations are conducted through its subsidiary companies and associate companies.
The main operating companies in the group are:
Accel Frontline Limited (Accel Limited is the Major shareholder) (AFL)
Accel Transmatic Limited (subsidiary company) (ATL)
Accel IT Resources Limited (subsidiary company) (A1TRL)
During the year, the company increased its holdings In AITRL and acquired balance 100,000 shares from ATL, making AITRL as its wholly owned subsidiary.
Further, the company also acquired shares taking its holding in ATL to 51% and making that company also as its subsidiary company
The company divested a small potion of Its holding in Accel Frontline Services Limited (AFSL) in favour of Chief Executive Officer of AFSL.
The director have advised the shareholders that they have completed during the year 2011 - 2012 buying back the equity held by British Telecom Pic in AFL and thereby making AFL, a subsidiary of Accel Limited, Necessary funds for these investments were arranged through loans raised during the year.
Considering that the company has received a favorable order from High Court of Madras that it can withdraw the application for transfer of its immovable property In favour of its subsidiary as the registering authority has not allowed it to avail the stamp duty benefit for such transfer. Accordingly, the entries passed in the books were reversed and to the extent, Fixed Assets has been enhanced and the loans and advances has been reduced, bringing back to Accel Limited Balance Sheet the Immovable property.
FUTURE OUTLOOK
The ET industry is recovering from the economic slowdown witnessed during the past two years In India and the invest companies are expected to report improved performance during the next financial year.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10236055 |
04/08/2010 |
7,500,000.00 |
CITY UNION BANK LIMITED |
706, ANNA SALAI, MOUNT ROAD, CHENNAI, TAMIL NADU |
A93213072 |
|
2 |
10158478 |
26/03/2009 |
80,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, NO.155, ANNA SALAI, CHENNAI, TAMIL NADU - 600002, INDIA |
A61880928 |
|
3 |
10159073 |
26/03/2009 |
80,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, NO.155, ANNA SALAI, CHENNAI, TAMIL NADU - 600002, INDIA |
A62324983 |
|
4 |
10040350 |
22/02/2007 |
2,000,000.00 |
THE FEDERAL BANK LIMITED |
25, NELSON MANICKAM ROAD, RAJARAM MEHTA NAGAR, CH |
A11888948 |
|
5 |
90321119 |
17/02/2003 |
40,000,000.00 |
ICICI EMERGING SECTORS FUND |
IV FLOOR; RAHEJA PLAZA, 17 COMMISSARIAT ROAD, BAN |
- |
|
6 |
90317223 |
13/02/2001 |
140,000,000.00 |
ICICI BANK LIMITED |
110; PRAKASH PRESIDIUM, UTTAMAR GANDHI SALAI, CHENNAI, TAMIL NADU - 600034, INDIA |
- |
|
7 |
90320994 |
04/10/2001 * |
155,000,000.00 |
ICICI BANKING CORPORATION LIMITED |
110 UTHAMAR GANDHI SALAI, NUNGAMBAKKAM, CHENNAI, |
- |
|
8 |
90320978 |
17/02/2003 * |
30,000,000.00 |
ICICI EQUITY FUND |
IV FLOOR; RAHEJA PLAZA, 17 COMMISSARIAT ROAD, BANGALORE, KARNATAKA - 560025, INDIA |
- |
|
9 |
90320902 |
17/02/2003 * |
40,000,000.00 |
ICICI EQUITY FUND |
IV FLOOR; RAHEJA PLAZA, 17 COMMISSARIAT ROAD, BANGALORE, KARNATAKA - 560025, INDIA |
- |
|
10 |
90320901 |
07/09/1998 * |
50,000,000.00 |
INDIAN OVERSEAS BANK |
S.S.I. BRANCH, 738 ANNA SALAI, CHENNAI, TAMIL NADU - 600002, INDIA |
- |
|
11 |
90320781 |
01/10/1997 * |
18,500,000.00 |
INDIAN OVERSEAS BANK |
S.S.I. BRANCH, 738 ANNA SALAI, CHENNAI, TAMIL NADU - 600002, INDIA |
- |
|
12 |
90320700 |
10/03/1997 |
2,500,000.00 |
MANAKCHAND CHORDIA |
NO. 109 MINT STREET, CHENNAI, TAMIL NADU - 600079, |
- |
|
13 |
90320691 |
21/02/1997 |
7,000,000.00 |
SUNDARAM FINANCE SERVICES LIMITED |
27; WHITES ROAD, CHENNAI, TAMIL NADU - 600014, INDIA |
- |
|
14 |
90320521 |
27/01/1996 * |
2,500,000.00 |
INDIAN OVERSEAS BANK |
S.S.I. BRANCH, 738 ANNA SALAI, CHENNAI, TAMIL NADU - 600002, INDIA |
- |
|
15 |
90320297 |
27/12/1994 |
2,500,000.00 |
INDIAN OVERSEAS BANK |
S.S.I. BRANCH, ANNA SALAI, CHENNAI, TAMIL NADU - |
- |
|
16 |
90320294 |
07/08/1997 * |
3,000,000.00 |
INDIAN OVERSEAS BANK |
S.S.I. BRANCH, 738 ANNA SALAI, CHENNAI, TAMIL NADU - 600002, INDIA |
- |
FIXED ASSETS
· Land and Buildings
· Furniture and Fixture
· Computer
· Electrical Installation
· Office Equipment
· Vehicle
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.61.41 |
|
|
1 |
Rs.99.29 |
|
Euro |
1 |
Rs.83.68 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--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 |
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 |
|
33 |
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.