MIRA INFORM
REPORT
|
Report Date : |
05.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
GOLD STAR GARMENT ACCESSORIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
3072, Pratap Street, 19-20, Gola Market, Behind Golcha Cinema, Darya
Ganj, Delhi - 110002 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
21.12.1999 |
|
|
|
|
Com. Reg. No.: |
55-102908 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 2.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U18101DL1999PTC102908 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELG07194F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCG2566P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Supplier of Garment Accessories, Fashion
Trims, Polyster Buttons, Plastic Buttons, Laser Buttons, etc., |
|
|
|
|
No. of Employees
: |
40 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 19000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. There appears drastic dip profit of the company in financial year 2012.
External borrowing of the company appears to be huge. Trade relation reported to be fair. Business is active. Payment terms
are reported to be slow. The company can be considered for business dealing 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.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mohit Hora |
|
Designation : |
Director |
|
Contact No.: |
91-9212128565 |
|
Date : |
03.10.2013 |
LOCATIONS
|
Registered Office : |
3072, Pratap Street, 19-20, Gola Market, Behind Golcha Cinema, Darya
Ganj, Delhi – 110002, India |
|
Tel. No. : |
Not Available |
|
Mobile No. : |
91-9212128565 / 9899668565 (Mr. Mohit Hora) |
|
Fax No. : |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
2500 sq.ft. |
|
Location : |
Owned |
|
|
|
|
Factory : |
812/E27 (B), Samtel Zone, Phase-III, Bhiwadi Industrial Area, Bhiwadi
- 301019, Rajasthan, India |
|
E-Mail : |
DIRECTORS
As on 27.09.2012
|
Name : |
Lata Hora |
|
Designation : |
Director |
|
Address : |
B-15, New Krishna Park, New Delhi – 110018, India |
|
Date of Birth/Age : |
15.11.1942 |
|
Date of Appointment : |
09.03.2013 |
|
DIN No. : |
00259282 |
|
|
|
|
Name : |
Mr. Mohit Hora |
|
Designation : |
Director |
|
Address : |
3072, PratapStreet, 19-20 Gola Market, Behind Goleha Ccnema, Daryaganj, New Delhi, India |
|
Date of Birth/Age : |
18.07.1978 |
|
Date of Appointment : |
21.12.1999 |
|
DIN No. : |
00259236 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
P.K. Hora |
|
60500 |
|
Mohit Hora |
|
73800 |
|
Lata Hora |
|
40100 |
|
P.K. Hora (HUF) |
|
15100 |
|
Ashok Kumar |
|
100 |
|
Rashmi Malhotra |
|
100 |
|
Suchi Hora |
|
10300 |
|
Total |
|
200000 |
Allottes as on 29.03.2013
|
Names of Allottes |
|
No. of Shares |
|
Mohit Hora |
|
90000 |
|
Mohit Hora (HUF) |
|
10000 |
|
Total |
|
100000 |
As on 27.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
99.90 |
|
Other top fifty shareholders |
0.10 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Supplier of Garment Accessories, Fashion
Trims, Polyster Buttons, Plastic Buttons, Laser Buttons, etc., |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS (AS ON 31.03.2012)
|
Particulars |
Unit |
Actual
Production |
|
Buttons |
Grs. |
1789078 |
GENERAL INFORMATION
|
No. of Employees : |
40 (Approximately) |
||||||||||||||||||||||||
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||||||||||||||||||||||||
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Bankers : |
Vijaya Bank Limited, B - 25, New Krishna Park, Delhi - 110018, Delhi, India |
||||||||||||||||||||||||
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Facilities : |
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|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Bubber Jindal and Company Chartered Accountants |
|
Address : |
3072, Pratap Street, Gola Market, Darya Ganj, New Delhi – 110002, India |
|
Tel. No. : |
91-11-23268128 / 23284562 / 27262440 |
|
Mobile No. : |
91-9810194932 |
|
PAN No. : |
AAAFB5311R |
|
|
|
|
Enterprises under control of Key Management Personnel and their
relatives : |
Ace Garments Accessories Private Limited |
CAPITAL STRUCTURE
After 27.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000 |
Equity Shares |
Rs.10/- each |
Rs. 3.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000 |
Equity Shares |
Rs.10/- each |
Rs. 3.000 Millions |
|
|
|
|
|
As on 27.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000 |
Equity Shares |
Rs.10/- each |
Rs. 3.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs.10/- each |
Rs. 2.000 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 |
|
2.000 |
2.000 |
|
(b) Reserves & Surplus |
|
2.799 |
2.655 |
|
(c) Money
received against share warrants |
|
0.000 |
0.00 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
12.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
4.799 |
16.655 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
23.222 |
16.203 |
|
(b) Deferred tax liabilities (Net) |
|
1.399 |
1.510 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.0000 |
|
Total Non-current Liabilities (3) |
|
24.621 |
17.713 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
15.285 |
4.932 |
|
(b) Trade payables |
|
5.048 |
7.080 |
|
(c) Other current
liabilities |
|
1.891 |
4.863 |
|
(d) Short-term provisions |
|
0.153 |
0.148 |
|
Total Current Liabilities (4) |
|
22.377 |
17.023 |
|
|
|
|
|
|
TOTAL |
|
51.797 |
51.391 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
27.085 |
28.494 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(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 |
|
0.000 |
0.000 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
27.085 |
28.494 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
10.070 |
6.161 |
|
(c) Trade receivables |
|
10.055 |
12.146 |
|
(d) Cash and cash
equivalents |
|
2.322 |
3.181 |
|
(e) Short-term loans and
advances |
|
2.164 |
1.328 |
|
(f) Other current assets |
|
0.101 |
0.081 |
|
Total Current Assets |
|
24.712 |
22.897 |
|
|
|
|
|
|
TOTAL |
|
51.797 |
51.391 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
2.000 |
|
|
2] Share Application Money |
|
|
12.000 |
|
|
3] Reserves & Surplus |
|
|
2.027 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
16.027 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
2.716 |
|
|
2] Unsecured Loans |
|
|
16.857 |
|
|
TOTAL BORROWING |
|
|
19.573 |
|
|
DEFERRED TAX LIABILITIES |
|
|
1.265 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
36.865 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
25.768 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
5.927 |
|
|
Sundry Debtors |
|
|
12.524 |
|
|
Cash & Bank Balances |
|
|
1.336 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
1.454 |
|
Total
Current Assets |
|
|
21.241 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
7.458 |
|
|
Other Current Liabilities |
|
|
2.537 |
|
|
Provisions |
|
|
0.149 |
|
Total
Current Liabilities |
|
|
10.144 |
|
|
Net Current Assets |
|
|
11.097 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
36.865 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
43.725 |
|
|
|
Other Income |
|
|
NA |
|
|
|
TOTAL |
50.196 |
53.437 |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
50.154 |
49.255 |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
3.927 |
4.182 |
3.436 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
3.885 |
3.111 |
2.680 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
0.042 |
1.071 |
0.765 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.009 |
0.198 |
1.371 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
0.033 |
0.873 |
0.615 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
0.321 |
0.238 |
0.376 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
0.72 |
4.37 |
3.82 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.07
|
1.63 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
1.75 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.08
|
2.08 |
1.63 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01
|
0.06 |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
8.02
|
1.27 |
0.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.10
|
1.35 |
2.09 |
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 |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
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 |
UNSECURED LOANS
|
PARTICULARS |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Deferred payment
liabilities Deferred Central Sales Tax |
1.225 |
1.531 |
|
Loans and
advances from related parties * |
|
|
|
From Directors |
8.017 |
4.856 |
|
From Others |
9.463 |
7.409 |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans
repayable on demand From Others* |
10.000 |
0.000 |
|
Total |
28.705 |
13.796 |
|
NOTE *Loans and advances from related parly includes loan from Directors, their family members and from associate Companies.There is no written agreement for these loans regarding its repayment,rate of interest and other terms and conditions. However it has been coinmited by Company to their banker for non withdrawal of amount without information to them. * There is no written terms and conditions between company
and other parties in relation to repayment. The said loans are payable on
demand and consequently has been taken under the head of Short Term
Borrowings. |
||
NOTE
The registered office of the company has been shifted from 205/1, Nangli, Sakrawati Najafgarh, New Delhi – 110043, India to the present address w.e.f. 18.10.2010
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U18101DL1999PTC102908 |
|
Name of the
company |
GOLD STAR GARMENT
ACCESSORIES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
3072, Pratap Street, 19-20, Gola Market, Behind Golcha Cinema, Darya
Ganj, Delhi – 110002, India E-mail: mohit@goldstarbuttons.in
|
|
This form is for |
Creation of charge |
|
Type of charge |
Immovable property Movable property (not being pledge) Others (Plant and Machinery) |
|
Particular of
charge holder |
Vijaya Bank Limited, B - 25, New Krishna Park, Delhi - 110018, Delhi, India E-mail: susheelgupta@hotmail.com |
|
Nature of
description of the instrument creating or modifying the charge |
Sanction Letter Hypothecation
Agreement Board Resolution |
|
Date of
instrument Creating the charge |
22/05/2013 |
|
Amount secured by
the charge |
Rs. 2.200
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest shall be
charged @ 13.75% (floating) p. a being equivalent to bank's base rate +
3.55%. i. e additional interest shall be charged @ 2% pa in case of default. Terms of Repayment EMI of Rs. 0.049
Millions p.m for a period of five years Margin As per Sanction Extent and Operation of the charge 100% First charge
to secure Term Loan of Rs. 2.200 Millions. |
|
Short particulars
of the property charged |
Primary - a) Hypothecation
of Machinery of BPL 78, Flex Laser Engraver From Bonetti, Itly Invoice 960,
date 23.10.2012 for Rs. 2.079 Millions b) Nove 1000,
Hyper Invoice 1175 date 17.12.2012 for Rs. 0.867 Million Collateral
Security - Continuing security bearing No. 812/E-27B, Samtal Zone, RIICO,
Industrial Area, Phase - II, Bhiwadi |
FIXED ASSETS
· Factory Land
Factory
Building
Electrical
Installation
Electric
Fitting
Fire
Extinguisher
Plant
and Machinery
Dust
Collection System
New
Generation Set
Power
Transformer/ Transmission
Lab
Testing Equipment
Furniture
and Fixture
Factory
and Office Equipment
Button
Sorting Machine
Laser
Gun
Laser
Engraver
Car(s)
Scooter
Computers
Water
Pump Station
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
|
Information
Gathered by : |
NAY |
|
|
|
|
Report Prepared
by : |
MRI |
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 |
3 |
|
--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 |
|
28 |
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.