MIRA INFORM REPORT
|
Report Date : |
08.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
VIKAS COT FIBER PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
301, Saffron Residency, 93-94, Janki Nagar (Mian), Near Jain Mandir,
Indore-452001, Madhya Pradesh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
12.05.2008 |
|
|
|
|
Com. Reg. No.: |
10-020693 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 15.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17300MP2008PTC020693 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Raw Cotton and Raw Cotton Bales |
|
|
|
|
No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 87000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. External borrowing of the company appears to be huge during 2012. However, trade relations are fair. Business is active. Payment terms
are reported as slow but correct. 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.
INFORMATION PARTED BY
|
Name : |
Mr. Pradeep |
|
Designation : |
Director |
|
Contact No.: |
91-9425064098 |
|
Date : |
08.10.2013 |
LOCATIONS
|
Registered Office : |
301, Saffron Residency, 93-94, Janki Nagar (Mian), Near Jain Mandir,
Indore-452001, Madhya Pradesh, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9425064098 (Mr. Pradeep) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Warla Road, Sendhwa, Barwani-451606, Madhya Pradesh, India |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Mohanlal Khandelwal |
|
Designation : |
Director |
|
Address : |
Main Road, Pansemal, Barwani-451221, Madhya Pradesh, India |
|
Date of Birth/Age : |
20.04.1950 |
|
Date of Appointment : |
12.05.2008 |
|
DIN No.: |
02169035 |
|
|
|
|
Name : |
Mr. Piyush K Khandelwal |
|
Designation : |
Director |
|
Address : |
Bus Stand, Sendhwa-451666, Madhya Pradesh, India |
|
Date of Birth/Age : |
15.12.1987 |
|
Date of Appointment : |
18.06.2008 |
|
DIN No.: |
02203382 |
|
|
|
|
Name : |
Mr. Pradeep Khandelwal |
|
Designation : |
Director |
|
Address : |
Vikas Krishi Seva Center, District Barwani, Sendhwa-451666, Madhya
Pradesh, India |
|
Date of Birth/Age : |
16.12.1978 |
|
Date of Appointment : |
18.06.2008 |
|
DIN No.: |
02203820 |
|
|
|
|
Name : |
Mr. Nilesh Khandelwal |
|
Designation : |
Director |
|
Address : |
Vikas Krishi Seva Center, District Barwani, Sendhwa-451666, Madhya
Pradesh, India |
|
Date of Birth/Age : |
04.01.1978 |
|
Date of Appointment : |
18.06.2008 |
|
DIN No.: |
02205675 |
|
|
|
|
Name : |
Mr. Shailesh Kumar Khandelwal |
|
Designation : |
Director |
|
Address : |
Vikas Krishi Seva Center, District Barwani, Sendhwa-451666, Madhya
Pradesh, India |
|
Date of Birth/Age : |
08.05.1979 |
|
Date of Appointment : |
18.06.2008 |
|
DIN No.: |
02205709 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
Mohanlal Khandelwal |
60000 |
|
Nitesh Khandewal |
60000 |
|
Rampyari Bai Khandelwal |
20000 |
|
Radheshyam Khandelwal |
90000 |
|
Rukmani Bai Khandelwal |
90000 |
|
Pradeep Kumar |
90000 |
|
Nameeta Khandelwal |
37500 |
|
Manorama Bai Khandelwal |
60000 |
|
Nilesh Khandelwal |
70000 |
|
Vaishali Khandelwal |
27500 |
|
Shikha Khandelwal |
30000 |
|
Omprakash Khandelwal |
60000 |
|
Gayatribai Khandelwal |
60000 |
|
Shailesh Khandelwal |
80000 |
|
Jayshree Khandelwal |
20000 |
|
Anuj Khandelwal |
60000 |
|
Maya Khandelwal |
27500 |
|
Kailash Chand Khandelwal |
100000 |
|
Sujata Khandelwal |
100000 |
|
Piyush Khandelwal |
107500 |
|
TOTAL
|
1250000 |
AS ON 14.12.2012
|
Names of Allottees |
No. of Shares |
|
Radheshyam
Hiralal Khandelwal HUF |
100000 |
|
Mohanlal Hiralal
Khandelwal HUF |
200000 |
|
Omprakash
Hiralal Khandelwal HUF |
200000 |
|
Kailash Chandra Hiralal
Khandelwal HUF |
100000 |
|
Pradeep
Radheshyam Khandelwal |
70000 |
|
Nilesh Mohanlal Khandelwal |
100000 |
|
Mohanlal Hiralal Khandelwal |
150000 |
|
Anuj Khandelwal |
30000 |
|
Piyush Khandelwal |
30000 |
|
Chetna Piyush Khandelwal |
20000 |
|
TOTAL
|
1000000 |
AS ON 29.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Raw Cotton and Raw Cotton Bales |
|
|
|
|
Exports : |
|
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Credit (30 Days) |
|
|
|
|
Purchasing : |
Cash, Credit (30 Days) |
PRODUCTION STATUS (AS ON : 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Cotton Lint (Rui) |
MT |
10500 |
10500 |
2949.503 |
|
Cotton Seed |
MT |
21000 |
21000 |
4752.292 |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers, Retailers, End Users
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No. of Employees : |
50 (Approximately) |
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Bankers : |
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Facilities : |
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Banking Relations
: |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Mandovra and Associates Chartered Accountant |
|
Address : |
2, White Church Colony, Opposite Aaykar Bhawan, Indore-452001, Madhya
Pradesh, India |
|
Tel. No.: |
91-731-2701600 TO 603 |
|
E-Mail : |
|
|
PAN No.: |
ADQPK4191D |
CAPITAL STRUCTURE
AFTER 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.10/- each |
Rs. 15.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1250000 |
Equity Shares |
Rs.10/- each |
Rs. 12.500 Millions |
|
|
|
|
|
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.10/- each |
Rs. 15.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.10/- each |
Rs. 15.000 Millions |
|
|
|
|
|
AS ON 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs.10/- each |
Rs. 25.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs.10/- each |
Rs. 25.000 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 |
|
15.000 |
12.500 |
|
(b) Reserves & Surplus |
|
6.977 |
1.884 |
|
(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) |
|
21.977 |
14.384 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
86.447 |
111.010 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
86.447 |
111.010 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
80.899 |
38.984 |
|
(b) Trade
payables |
|
20.032 |
16.895 |
|
(c) Other
current liabilities |
|
3.113 |
2.015 |
|
(d) Short-term
provisions |
|
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
|
104.044 |
57.894 |
|
|
|
|
|
|
TOTAL |
|
212.468 |
183.288 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
11.297 |
10.778 |
|
(ii)
Intangible Assets |
|
0.163 |
0.327 |
|
(iii)
Capital work-in-progress |
|
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 |
|
0.967 |
0.746 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
12.427 |
11.851 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
99.459 |
118.736 |
|
(c) Trade
receivables |
|
63.301 |
39.880 |
|
(d) Cash
and cash equivalents |
|
31.884 |
8.612 |
|
(e)
Short-term loans and advances |
|
5.397 |
4.209 |
|
(f) Other
current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
200.041 |
171.437 |
|
|
|
|
|
|
TOTAL |
|
212.468 |
183.288 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
12.500 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.288 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
12.788 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
54.216 |
|
|
2] Unsecured Loans |
|
|
70.377 |
|
|
TOTAL BORROWING |
|
|
124.593 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
137.381 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
13.698 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
63.810 |
|
|
Sundry Debtors |
|
|
56.599 |
|
|
Cash & Bank Balances |
|
|
5.752 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
7.978 |
|
Total
Current Assets |
|
|
134.139 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
9.902 |
|
|
Other Current Liabilities |
|
|
1.043 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
10.945 |
|
|
Net Current Assets |
|
|
123.194 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.489 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
137.381 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
835.703 |
644.010 |
333.649 |
|
|
|
Other Income |
3.191 |
2.930 |
0.350 |
|
|
|
TOTAL (A) |
838.894 |
646.940 |
333.999 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
759.392 |
642.887 |
|
|
|
|
Preliminary Expenses W/Off |
0.026 |
0.026 |
|
|
|
|
Employee benefits expenses |
4.435 |
2.162 |
|
|
|
|
Other Expenses |
48.294 |
41.970 |
|
|
|
|
Changes in inventories of Finished goods, work in progress and stock
in trade |
7.046 |
(56.738) |
|
|
|
|
TOTAL (B) |
819.193 |
630.307 |
326.667 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
19.701 |
16.633 |
7.332 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
15.773 |
12.745 |
3.992 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3.928 |
3.888 |
3.340 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.573 |
1.573 |
1.927 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
2.355 |
2.315 |
1.413 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.752 |
0.719 |
0.156 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
1.603 |
1.596 |
1.257 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
NA |
(0.969) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
0.288 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
1.07 |
-- |
-- |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
900.000 |
|
|
|
|
|
Expected Sales (2013-2014) : Rs. 1000.000 Millions
The above information has been parted by Mr. Pradeep.
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.19
|
0.25 |
0.38 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.28
|
0.36 |
0.42 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.11
|
1.26 |
0.96 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11
|
0.16 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
7.61
|
10.43 |
9.74 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.92
|
2.96 |
12.26 |
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 |
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
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 |
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 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
Long Term
Borrowings |
|
|
|
Piyush Trading Company Jafrabad |
0.406 |
1.963 |
|
Shailesh Khandelwal |
38.064 |
37.812 |
|
Shri Mohanlal Khandelwal Pansemal |
0.065 |
22.246 |
|
Pradeep Khandelwal |
27.486 |
17.182 |
|
Nilesh Khandelwal |
1.119 |
10.038 |
|
Aayushjay Construction Private Limited, Indore |
5.000 |
10.000 |
|
Prakash Snap Private Limited, Indore |
5.000 |
0.000 |
|
|
|
|
|
TOTAL |
77.140 |
99.241 |
VIEW INDEX OF
CHARGES
|
S. No |
Charge ID |
Date of Charge Creation /Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN |
|
1 |
10132598 |
22/02/2013 * |
155,000,000.00 |
Bank of India |
Sendhwa Branch, Daji Bhavan, Moti Bagh
Chowk, Sendhwa, Madhya Pradesh - 451666, India |
B70789417 |
|
* Date of charge modification |
||||||
NOTE
Registered office has been shifted from
Shrinath Chamber, 1st Floor, 1/1, Maharani Road, Indore-452001,
Madhya Pradesh, India to the present address w.e.f. 10.10.2011.
FIXED ASSETS
- Land
Development
- Tarpolin
- Building
- Tractor
Purchase
- Plant and
Machinery
- Strip Packing
Machine
- Tractor
Loader
- Electric
Fittings
- Motor Cycle
- Weighing
Scales
- Furniture
- Maruti Swift
Car
- Computer
- Laptop
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. 61.77 |
|
UK Pound |
1 |
Rs. 99.06 |
|
Euro |
1 |
Rs. 83.83 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--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 |
NO |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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.