MIRA
INFORM REPORT
|
Report Date : |
15.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
VBHC MUMBAI VALUE HOMES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
H.M. Strafford House, 29/4, 3rd Floor, 7th Cross,
Vasanthnagar Extension, Off Millers Road, Bangalore
– 560052, Karnataka |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
01.06.2010 |
|
|
|
|
Com. Reg. No.: |
08-053889 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.1.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45201KA2010PTC053889 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The company is engaged in the business of developing low cost
affordable housing projects. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 80000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. There
appear huge external borrowings recorded by the company. However, trade
relations are reported as fair. Business is active. Payments are reported to
be slow. The company can be considered for business dealings with some
cautions. |
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 DENIED BY
MANAGEMENT NON – COOPERATIVE (91-80-43479500)
LOCATIONS
|
Registered Office : |
H.M. Strafford House, 29/4, 3rd Floor, 7th
Cross, Vasanthnagar Extension, Off Millers Road,
Bangalore – 560052, Karnataka |
|
Tel. No.: |
91-80-43479500 |
|
Fax No.: |
91-80-43479502 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Design Office : |
Located At: ·
Bangalore ·
Chennai ·
Mumbai (Western Suburbs Office) |
|
|
|
|
Branch Office : |
Located At : ·
Mumbai ·
Delhi |
DIRECTORS
As on: 27.09.2012
|
Name : |
Mr. Rajeev Talwar |
|
Designation : |
Director |
|
Address : |
No. 104, Salarpuria Paradise No 31, AGA – Abbas Ali Road, Bangalore – 560042, Karnataka, India |
|
Date of Birth/Age : |
29.04.1946 |
|
Date of Appointment : |
18.03.2011 |
|
DIN No. : |
03479388 |
|
|
|
|
Name : |
Mr. Alejandro Rafael Moralesmendez |
|
Designation : |
Director |
|
Address : |
No 208, Street Paseo Deestrategos
Fracc Residential Caletta,
SantaRosa, Juriquilla –
76230, Queretaro, Mexico |
|
Date of Birth/Age : |
08.06.1976 |
|
Date of Appointment : |
20.12.2011 |
|
DIN No. : |
05150653 |
|
|
|
|
Name : |
Mr. Vivin Samuel Mathew |
|
Designation : |
Director |
|
Address : |
No 1B Madaleine Court, 26/7, Mayor V Ramanathan Road, (Spur Tank Road), Chetpet
– 600031, Tamilnadu, India |
|
Date of Birth/Age : |
22.12.1980 |
|
Date of Appointment : |
20.12.2011 |
|
DIN No. : |
05138862 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 27.09.2012
|
Names of Shareholders |
No. of Shares |
|
Value and Budget Housing Corporation Private Limited, India |
500000 |
|
HDFC Asset Management Company Limited, India |
500000 |
|
|
|
|
Total |
1000000 |
As on: 16.07.2013
|
Names of Allotee |
No. of Shares |
|
Srikanth Sunderarajan
Services |
10 |
|
Nisha Suresh Mundra
and Suresh K Mundra Services |
10 |
|
Laxman Bharwaney |
10 |
|
Yasmin Polly Patel and Polly Bhikaji
Patel |
10 |
|
Chandrashekhar Rammohan Chetty and Kanchan Chandrashekar |
10 |
|
Davar Management Private Limited |
10 |
|
C K Gupta HUF |
10 |
|
Mahakurshid K Byranjee and Rishad K Byramjee |
10 |
|
Sudhir Shantilal Shah
and Parul Sudhir Shah |
10 |
|
Ariz Aspi Anklesaria |
100 |
|
Piyush Pandey |
10 |
|
Sulbhanand Rane and Urmila Sulbhanand Rane |
10 |
|
Dilipkumar Dulabhji Tanna and Manju Dilipkumar Tanna |
10 |
|
Urvashi Kirtbhai shah |
10 |
|
Amratlal Ranchhodas |
10 |
|
Kalpanaben Jaydevbhai |
10 |
|
Chandrika Kishor Sheth and Kishor Sunderlal Sheth |
10 |
|
Dotch Sales Private Limited |
10 |
|
Mohan Bhatiya |
10 |
|
Muralidharan Srinivasan |
100 |
|
Shakuntalam Holding Private Limited |
10 |
|
Randhir Puran Behl |
10 |
|
Sanjay Kumar Srivastava |
10 |
|
Uma Kannan |
10 |
|
Apurva Goswamy |
10 |
|
|
|
|
Total |
430 |
As on: 27.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in the business of developing low cost
affordable housing projects. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Ř Central Bank of India Ř Kotak Mahindra Bank Limited |
|
Banking
Relations : |
-- |
|
|
|
|
Financial
Institution : |
IL and FS Trust Company Limited, IL&FS Financial
Center Plot No. C – 22, G Block, 3rd Floor Bandra Kurla Complex Bandra (East),
Mumbai 400051, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
BSR and Company Chartered Accountants |
|
Address : |
Maruthi Info – Tech Centre, 11-12/1, Inner Ring
Road, Koramangala, Banglore
– 560071, Karnataka, India |
|
Tel. No.: |
91-80-39806000 |
|
Fax No.: |
91-80-39806999 |
|
PAN No. : |
AAIFB7357B |
|
|
|
|
Fellow Subsidiaries : |
œ VBHDC Bangalore Value
Homes Private Limited œ VBHC Chennai
Value Homes Private Limited œ VBHC Education
Services Private Limited œ VBHC Delhi
Projects Private Limited |
|
|
|
|
Parent Company : |
œ Value and Budget
Housing Corporation Private Limited |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.1/- each |
Rs.1.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.1/- each |
Rs.1.000 Million |
|
|
|
|
|
After: 27.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.1/- each |
Rs.1.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000430 |
Equity Shares |
Rs.1/- each |
Rs.1.000 Million |
|
|
|
|
|
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 |
|
1.000 |
0.100 |
|
(b) Reserves & Surplus |
|
18.983 |
(0.413) |
|
(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) |
|
19.983 |
(0.313) |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
1019.395 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.073 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.069 |
0.000 |
|
Total Non-current Liabilities (3) |
|
1019.537 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
282.471 |
52.226 |
|
(b) Trade payables |
|
5.686 |
0.138 |
|
(c) Other current liabilities |
|
5.001 |
0.050 |
|
(d) Short-term provisions |
|
5.869 |
0.000 |
|
Total Current Liabilities (4) |
|
299.027 |
52.414 |
|
|
|
|
|
|
TOTAL |
|
1338.547 |
52.101 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
1.687 |
1.584 |
|
(ii) Intangible Assets |
|
0.985 |
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 |
|
6.091 |
0.035 |
|
(e) Other Non-current assets |
|
5.443 |
0.000 |
|
Total Non-Current Assets |
|
14.206 |
1.619 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
181.208 |
0.000 |
|
(b) Inventories |
|
364.620 |
9.506 |
|
(c) Trade receivables |
|
0.000 |
0.000 |
|
(d) Cash and cash
equivalents |
|
54.718 |
6.285 |
|
(e) Short-term loans and
advances |
|
720.107 |
34.691 |
|
(f) Other current assets |
|
3.688 |
0.000 |
|
Total Current Assets |
|
1324.341 |
50.482 |
|
|
|
|
|
|
TOTAL |
|
1338.547 |
52.101 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
|
31.209 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
|
5.870 |
(0.413) |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
25.339 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
5.943 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
|
19.396 |
(0.413) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
19.39 |
0.41 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
|
62.15 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
1.90 |
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
1.27 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
65.15 |
(166.86) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
4.43 |
(161.28) |
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 two years |
Yes |
|
12] |
Profitability
for last two 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 |
No |
|
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:
|
Particulars |
31.03.2012 [Rs. in Millions] |
31.03.2011 [Rs. in Millions] |
|
Long Term
Borrowing |
|
|
|
Debentures |
|
|
|
Optionally Convertible
Debenture – Series A |
|
|
|
- HDFC Assets Management Company Limited* |
719.500 |
0.000 |
|
Optionally
Convertible Debenture – Series B |
|
|
|
- Value and Budget Housing Corporation Private Limited* |
292.000 |
0.000 |
|
Debenture Redemption Premium |
7.895 |
0.000 |
|
|
|
|
|
Short Term
Borrowing |
|
|
|
Loans repayable
on demand from related parties |
|
|
|
Value and Budget Housing
Corporation Private Limited |
278.639 |
52.226 |
|
BHDC Bangalore Value Homes Private Limited |
1.220 |
0.000 |
|
VBHC Chennai Value Homes Private Limited |
0.012 |
0.000 |
|
VBHC Education Services Private Limited |
2.600 |
0.000 |
|
|
|
|
|
Total |
1301.866 |
52.226 |
NOTE:
*a) the company issued unsecured, optionally
convertible series. A debenture on 7september 2011 to HDFC Asset Management
Company Limited and unsecured, Optionally Convertible Series B Debenture on 16
march 2012 to Valoe and Budget Housing Corporation
Private Limited. The face values of these debentures are Rs.
100 each.
The series A and series B debenture are
redeemable after 36 months from the date of their issuance or carry an option
to convert in to equity shares. Each Series A and Series B debenture is
convertible into 100Class A equity shares of Re 1 each and 100 Class B equity
shares of Re 1 each, respectively upon the qccntence
of any of the following events as specified in the SSSHA at the option of the
debenture holders.
a) The company not having completed construction of 500000 S. ft. of
saleable area of the project with in a period of 36 months from the expiry of
the acquisition time period in accordance with the business plan:
b) The debenture of an event of default;
c) The occurrence of an event which has a material adverse change; or
d) On mutual agreement between the parties.
In the event of non compliance with the terms
of issue as per SSSHA, the Series A debenture are redeemable prior to 28
September 2014 at this option of the debenture holder at interval rate of
return of 15% per annum compounded annually along with debenture redemption
premium of Rs. 7.838 millions in the event of
redemption of debenture at the end of 36 moths, the debenture are redeemable at
the option of debenture holder at internal rate of 10.20% per annum
corresponded annually along with debenture redemption premium of Rs. 7.895 millions
INDEX CHARGES:
|
S.No.
|
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10444820 |
10/07/2013 |
150,000,000.00 |
IL & FS TRUST COMPANY LIMITED |
IL & FS FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRA, KURLA
COMPLEX BANDRA EAST, MUMBAI, Maharashtra |
B81201527 |
|
2 |
10415051 |
10/07/2013 * |
50,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227, D, NARIMAN POINT, MUMBAI, Maharashtra - 400021, INDIA |
B82323213 |
|
3 |
10392793 |
08/12/2012 |
250,000,000.00 |
CENTRAL BANK OF INDIA |
CORPORATE FINANCE BRANCH NARIMANPOINT, CHANDERMUKHI,
NARIMAN POINT, MUMBAI, Maharashtra - 400021, INDIA |
B64445042 |
|
4 |
10383165 |
10/07/2013 * |
280,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227, D, NARIMAN POINT, MUMBAI, Maharashtra - 400021, INDIA |
B82321985 |
* Date of charge modification
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.61.30 |
|
|
1 |
Rs.97.99 |
|
Euro |
1 |
Rs.83.15 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
26 |
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.