MIRA INFORM REPORT
|
Report Date : |
10.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
VIRGO VALVES AND CONTROLS LIMITED |
|
|
|
|
Registered
Office : |
7B, 3rd Floor, Sambhava Chambers, Sir P.M. Road, Fort,
Mumbai – 400001, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 [Profit and Loss Account] |
|
|
|
|
Date of
Incorporation : |
11.06.2004 |
|
|
|
|
Com. Reg. No.: |
11-146916 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 10.000 Millions (As on 31.03.2011) |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29120MH2004PLC146916 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMV11688F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCV8733H |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of Industrial Valves and Accessories. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (57) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
||
|
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 |
|
|
Maximum Credit Limit : |
USD 9428000 |
|
|
|
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is a part of Virgo Engineers Limited. It is a well established and reputed company having a fine track
record. Balance Sheet Statement for the year 2012 is not available. Even though,
there seems a growth in the turnover but there is slight dip in the
profitability of the company. However, networth of the company is good. General financial position of the company is good. Trade relations are
reported as fair. Business is active. Payments are reported to be regular and
as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating : AA- |
|
Rating Explanation |
High degree of safety it carry very low
credit risk. |
|
Date |
September 24, 2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating : A1+ |
|
Rating Explanation |
Highest degree of safety it carry lowest
credit risk. |
|
Date |
September 24, 2012 |
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 (91-20-60744000)
LOCATIONS
|
Registered Office : |
7B, 3rd Floor, Sambhava Chambers, Sir P.M. Road, Fort,
Mumbai – 400001, Maharashtra, India |
|
Tel. No.: |
91-22-32150281 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
277, Hinjewadi Phase II, Maan (Mulshi), Pune - 411057,
Maharashtra, India |
|
Tel. No.: |
91-20-66744000/ 66744021 |
|
Fax No.: |
91-20-66744021 |
|
E-Mail : |
|
|
|
|
|
Overseas Office : |
Located at
|
DIRECTORS
AS ON 27.08.2012
|
Name : |
Mr. Mahesh Shivanand Desai |
|
Designation : |
Director |
|
Address : |
2, Cypress Valley Court, Sugar Land, TX, 774479, United States of
America |
|
Date of Birth/Age : |
16.09.1956 |
|
|
B.E. (Mech.) |
|
Date of Appointment : |
20.03.2006 |
|
DIN No.: |
00335134 |
|
|
|
|
Name : |
Mr. Jagdish Shivanand Desai |
|
Designation : |
Director |
|
Address : |
F/2, Shanti Co-Operative Housing Society, Mogal Lane, Mahim, Mumbai –
400016, Maharashtra, India |
|
Date of Birth/Age : |
21.01.1959 |
|
|
B.E. (Mech.) |
|
Date of Appointment : |
29.07.2005 |
|
DIN No.: |
00335436 |
|
|
|
|
Name : |
Mr. Balasubramanian Vaidyanath Sathanur |
|
Designation : |
Director |
|
Address : |
505, Ganga Estate Chembur, Ghatla Village Road, Mumbai – 400071,
Maharashtra, India |
|
Date of Birth/Age : |
12.09.1945 |
|
|
B.E. (Mech.) |
|
Date of Appointment : |
11.06.2004 |
|
DIN No.: |
00335644 |
|
|
|
|
Name : |
Mr. Paresh Jaisinh Rajda |
|
Designation : |
Director |
|
Address : |
F-6/1, Gera Emerals City, Pancard Club Road, Baner, Pune – 411045,
Maharashtra, India |
|
Date of Birth/Age : |
18.01.1957 |
|
|
B.E. (Mech.) |
|
Date of Appointment : |
29.04.2011 |
|
DIN No.: |
00680340 |
|
|
|
|
Name : |
Mr. Jayaraman Rangashaye Vellore |
|
Designation : |
Director |
|
Address : |
Flat No.11, 6th
Floor, Exclusive 14, Pallod Farms, Phase III, Baner Road, Pune – 411045,
Maharashtra, India |
|
Date of Birth/Age : |
22.06.1951 |
|
|
B.E. (MECH.) |
|
Date of Appointment : |
11.06.2004 |
|
DIN No.: |
00972096 |
|
|
|
|
Name : |
Mr. Kishore Anant Kulkarni |
|
Designation : |
Director |
|
Address : |
34, ICICI Apartments, Spring Mills Compo, Naigaum, Dadar, Mumbai –
400014, Maharashtra, India |
|
Date of Birth/Age : |
06.07.1954 |
|
|
B.E. (Mech.),
M.B.A |
|
Date of Appointment : |
17.09.2007 |
|
DIN No.: |
01572451 |
KEY EXECUTIVES
|
Name : |
Ms. Smita Vijay Nakil |
|
Designation : |
Company Secretary |
|
Address : |
F. No.31, Ganesh Chambers, Urmila Society, Gulab Nagar, Dhankawadi,
Pune – 411043, Maharashtra, India |
|
Date of Birth/Age : |
11.07.1986 |
|
Date of Appointment : |
06.02.2012 |
|
PAN No. : |
AIBPN0420E |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.08.2012
|
Names of Shareholders |
|
No. of Shares |
|
Virgo Engineers Limited, |
|
99994 |
|
V. Balasubramanian (Nominee of Virgo Engineers Limited, |
|
1 |
|
Jagdish Desai (Nominee of Virgo Engineers Limited, |
|
1 |
|
D.K. Vatsayan ((Nominee of Virgo Engineers Limited, |
|
1 |
|
Sandeep Sawant (Nominee of Virgo Engineers Limited, |
|
1 |
|
Prakash Kokane ((Nominee of Virgo Engineers Limited, |
|
1 |
|
Durgesh Devnally (Nominee of Virgo Engineers Limited, |
|
1 |
|
|
|
|
|
Total |
|
100000 |
AS ON 27.08.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Industrial Valves and Accessories. |
||||
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||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
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||||||||||||||||||
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
S.R. Batliboli and Associates Chartered Accountants |
|
Address : |
C-401, Fourth Floor, Panchshil Tech Park, Pune – 411006, Maharashtra,
India. |
|
Income-tax
PAN of auditor or auditor's firm : |
AABFS3421N |
|
|
|
|
Holding Company : |
Virgo Engineers Limited |
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|
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Subsidiaries : |
|
|
|
|
|
Subsidiary of
Subsidiary : |
Virgo Valves and Controls (UK) Limited |
|
|
|
|
Fellow Subsidiary : |
EVS Valves Inc , USA |
CAPITAL STRUCTURE
AS ON 27.08.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.100/- each |
Rs. 10.000 Millions |
|
100000 |
Preference Shares |
Rs.100/- each |
Rs. 10.000 Millions |
|
|
Total |
|
Rs.20.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
10.000 |
10.000 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
2346.987 |
2130.450 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
2356.987 |
2140.450 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
385.392 |
234.441 |
|
|
2] Unsecured Loans |
|
0.000 |
3.300 |
|
|
TOTAL BORROWING |
|
385.392 |
237.741 |
|
|
DEFERRED TAX LIABILITIES |
|
9.049 |
3.349 |
|
|
|
|
|
|
|
|
TOTAL |
|
2751.428 |
2381.540 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
264.942 |
177.119 |
|
|
Capital work-in-progress |
|
119.208 |
21.131 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
817.216 |
832.434 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
1016.954
|
480.127
|
|
|
Sundry Debtors |
|
1184.753
|
917.239
|
|
|
Cash & Bank Balances |
|
55.093
|
74.959
|
|
|
Other Current Assets |
|
25.613
|
47.026
|
|
|
Loans & Advances |
|
631.541
|
460.787
|
|
Total
Current Assets |
|
2913.954
|
1980.138
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
553.381
|
369.540
|
|
|
Other Current Liabilities |
|
716.388
|
178.843
|
|
|
Provisions |
|
94.123
|
80.899
|
|
Total
Current Liabilities |
|
1363.892
|
629.282
|
|
|
Net Current Assets |
|
1550.062
|
1350.856
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
2751.428 |
2381.540 |
|
Note: Balance Sheet Statement for the year 2012 is
not available, only Profit and Loss Account is available.
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
3825.988 |
2216.121 |
2383.638 |
|
|
|
Other Income |
122.025 |
26.311 |
34.196 |
|
|
|
TOTAL (A) |
3948.013 |
2242.432 |
2417.834 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
2142.726 |
1162.552 |
|
|
|
|
Purchases of stock-in-trade |
277.979 |
483.805 |
|
|
|
|
Changes in inventories
of finished goods, work-in-progress and stock-in-trade |
128.160 |
(237.488) |
1772.819 |
|
|
|
Employee benefit expense |
189.335 |
141.502 |
|
|
|
|
Other expenses |
522.732 |
235.463 |
|
|
|
|
TOTAL (B) |
3260.932 |
1785.834 |
1772.819 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
687.081 |
456.598 |
645.015 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
119.393 |
46.876 |
42.133 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
567.688 |
409.722 |
602.882 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
43.497 |
29.913 |
23.991 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
524.191 |
379.809 |
578.891 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
169.574 |
16.210 |
13.505 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
354.617 |
363.599 |
565.386 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2057.882 |
1878.450 |
1505.884 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
|
N.A. |
74.000 |
63.500 |
|
|
|
Interim dividend on equity shares |
|
53.000 |
52.800 |
|
|
|
Tax on dividend |
|
20.807 |
19.520 |
|
|
|
Transfer to General Reserve |
|
36.360 |
57.000 |
|
|
BALANCE CARRIED
TO THE B/S |
N.A. |
2057.882 |
1878.450 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB value of exports |
3501.287 |
1671.614 |
2037.295 |
|
|
|
Sale of traded goods |
299.082 |
517.054 |
321.592 |
|
|
|
Interest received |
14.658 |
6.126 |
4.058 |
|
|
|
Other Earnings |
0.000 |
0.000 |
74.688 |
|
|
TOTAL EARNINGS |
3815.027 |
2194.794 |
2437.633 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw materials and components |
1078.671 |
937.215 |
541.201 |
|
|
|
Capital assets |
9.770 |
1.156 |
5.065 |
|
|
TOTAL IMPORTS |
1088.441 |
938.371 |
546.266 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3546.17 |
3636.00 |
5653.86 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
8.98
|
16.21
|
23.38
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
13.70
|
17.14
|
24.29
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
N.A.
|
11.95
|
26.83
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
N.A.
|
0.16
|
0.27
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
N.A.
|
0.16
|
0.11
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
N.A.
|
2.14
|
3.15
|
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 |
Yes |
Note:
The registered office of the company has been shifted from 1001, 10th
Floor, Krishna Govind Towers, Sector 24, Vashi, Navi Mumbai – 400705,
Maharashtra to the present w.e.f.10.01.2009.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10398114 |
14/12/2012 |
120,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227,D, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B66252131 |
|
2 |
10398120 |
27/11/2012 |
240,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227,D, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B66252735 |
|
3 |
10349265 |
09/11/2012 * |
300,000,000.00 |
DBS BANK LIMITED |
ELBEE HOUSE, SIDDHARTH PATH, OFF DHOLE PATIL ROAD, PUNE, MAHARASHTRA - 411001, INDIA |
B64493513 |
|
4 |
10349625 |
09/11/2012 * |
200,000,000.00 |
DBS BANK LIMITED |
ELBEE HOUSE, SIDDHARTH PATH, OFF DHOLE PATIL ROAD, PUNE, MAHARASHTRA - 411001, INDIA |
B64203854 |
|
5 |
10351641 |
23/11/2012 * |
299,922,000.00 |
DBS BANK LIMITED |
UPPER GROUND FLOOR, BIRLA TOWER, 25, BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA |
B64076904 |
|
6 |
10351639 |
07/03/2013 * |
249,935,000.00 |
DBS BANK LIMITED. |
UPPER GROUND FLOOR, BIRLA TOWER, 25, BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA |
B70589759 |
|
7 |
10268515 |
06/02/2012 * |
200,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227,D, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B33582917 |
|
8 |
10147429 |
06/02/2012 * |
190,000,000.00 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
52/60, MAHATMA GANDHI ROAD, FORT, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B32119778 |
|
9 |
10147431 |
29/06/2010 * |
198,000,000.00 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
52/60, MAHATMA GANDHI ROAD, FORT, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
A91139733 |
|
10 |
10147873 |
26/04/2012 * |
280,000,000.00 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
52/60 MAHATMA GANDHI ROAD, FORT, FORT, MUMBAI, MA |
B38767224 |
|
11 |
10103796 |
06/02/2012 * |
420,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227,D, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B33383126 |
|
12 |
10081984 |
06/07/2012 * |
900,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH NEAR MARIAAIPOLICECHOWKY |
B44836161 |
|
13 |
10080918 |
29/06/2010 * |
550,000,000.00 |
CANARA BANK |
INDUSTRIAL FINANCE BRANCH, M. G. ROAD, PUNE, MAHARASHTRA - 411001, INDIA |
A91138602 |
|
14 |
10082411 |
29/06/2010 * |
150,000,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, CAMP, PUNE, MAHARASHTRA - 411001, INDIA |
A96051289 |
|
15 |
10064319 |
29/06/2010 * |
200,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227,D,, NARIMAN POINT,, M |
A89833107 |
|
16 |
90148904 |
24/07/2012 * |
2,490,000,000.00 |
STATE BANK OF INDIA INDUSTRIAL FINANCE BRANCH |
TARA CHAMBERS 2ND FLOOR, NEAR MARIAAIPOLICE CHOWKY, |
B56303431 |
|
17 |
90092710 |
28/07/2004 |
35,000,000.00 |
SBI FACTORS AND COMMERCIAL SERVICES PRIVATE LIMITED |
TARA CHAMBERS;2ND FLOOR; MUMBAI-PUNE ROAD, WAKD EWADI, PUNE, MAHARASHTRA - 411003, INDIA |
- |
* Date of charge modification
FIXED ASSETS:
- Leasehold Improvements
- Furniture and Fixtures
- Plant and Machinery
- Dies and Patterns
- Jigs and Fixtures
- Electrical Installations
- Computers
- Office Equipments
- 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. 61.92 |
|
|
1 |
Rs. 99.45 |
|
Euro |
1 |
Rs. 83.92 |
INFORMATION DETAILS
|
Information
Gathered by : |
NAY |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
57 |
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.