MIRA
INFORM REPORT
|
Report Date : |
24.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
FRIENDS MERCANTILE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Maitri Bhavan, Plot No.18, Sector-8, Gandhidham, Kutch-370201, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
15.12.1992 |
|
|
|
|
Com. Reg. No.: |
04-018693 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 10.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U65910GJ1992PTC018693 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RKTF00005F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trading of various commodities |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (25) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 210000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record.
Financials are not available after the year 2010. Mr. Kamal Maheshwari from finance
department denied to part any information about the company. As per available
record there seems a tremendous dip in the turnover and profitability of the
company. However, as per registrar of companies the status of company is
active. Payment terms are unknown. The company can be considered for business dealings with great
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) |
|
|
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
The finance ministry
has started preparations for Budget 2014/15. With general elections scheduled
to be held by May next year, there will only be an interim budget. The new
government will present the fiscal Budget.
The Supreme Court
has barred clinical trials for new drugs till a monitoring mechanism is put in
place to protect the lives of people on which the drugs are tested.
Mumbai has been
named the world’s second most honest city according to a survey on 15 cities
worldwide by Readers’ Digest magazine. Finnish capital
3.7 % Growth of the core
sector in August, a seven month high. This takes the overall growth in
April-August this year to 2.3 % compared with 6.3 % in the corresponding period
next financial year.
$19 million
Estimated average spending by companies across the globe including India, on
social media this year, according to a global study by information technology
major Tata Consultancy Services. This will rise to $ 24 million in 2015.
Rising inflation,
fewer employment avenues and dwindling earnings are taking a toll on the spending
capacity in India. Over 72 % respondents from middle and lower middle income
families would be forced to slash their Diwali expenditure by 40 % and on
average spend nearly 25 % of their monthly salary on Diwali, according to a
survey by Assochem.
Analysts believe the
shutdown of the US government would have limited impact in sectors such as IT
or tourism that are dependent on Visa clearances.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
BB (Long Term Bank Facilities) |
|
Rating Explanation |
Moderate risk of default |
|
Date |
February 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 BY
|
Name : |
Mr. Kamal Maheshwari |
|
Designation : |
Finance Department |
|
Contact No.: |
91-2836-232227 |
|
Date : |
22.10.2013 |
LOCATIONS
|
Registered Office : |
Maitri Bhavan, Plot No.18, Sector-8, Gandhidham, Kutch-370201,
Gujarat, India |
|
Tel. No.: |
91-2836-232227 |
|
Fax No.: |
91-2836-233924 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Sukhraj Amarchand Singhvi |
|
Designation : |
Chairman |
|
Address : |
Plot No.100, Sector 2, Gandhidham-370201, |
|
Date of Birth/Age : |
20.05.1949 |
|
Date of Appointment : |
15.12.1992 |
|
DIN No.: |
00246136 |
Other Directorship:
|
S.
No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U65910GJ1992PTC018693
|
FRIENDS MERCANTILE
PRIVATE LIMITED |
Director |
15/12/1992 |
15/12/1992 |
- |
Active |
NO |
|
2 |
U63012GJ1993PTC034848
|
GEEPEE BULK
HANDLERS PRIVATE LIMITED |
Director |
01/11/1994 |
01/11/1994 |
- |
Active |
NO |
|
3 |
U24110GJ1995PTC024228
|
FRIENDS OIL AND
CHEMICAL TERMINALS PRIVATE LIMITED |
Director |
16/01/1995 |
16/01/1995 |
- |
Active |
NO |
|
4 |
U15201GJ1997PLC032108
|
TERA PANTH FOODS
LIMITED |
Director |
15/04/1997 |
15/04/1997 |
- |
Active |
NO |
|
5 |
U27209GJ2004PLC043927
|
SHAH FOILS
LIMITED |
Director |
06/04/2004 |
06/04/2004 |
17/07/2013 |
Active |
NO |
|
6 |
L17110GJ1962PLC001179
|
GANDHIDHAM
SPINNING AND MANUFACTURING COMPANY LIMITED |
Director |
03/09/2004 |
03/09/2004 |
- |
Active |
NO |
|
7 |
U17110GJ2005PTC045730
|
STRANDS TEXTILE
MILLS PRIVATE LIMITED |
Director |
18/03/2005 |
18/03/2005 |
- |
Active |
NO |
|
8 |
U51100GJ2005PTC046863
|
SHANTINATH
MOTORS PRIVATE LIMITED |
Director |
05/10/2005 |
05/10/2005 |
- |
Active |
NO |
|
9 |
U10102AP2004PTC044967
|
NIDHI MINING
PRIVATE LIMITED |
Additional
director |
12/07/2006 |
12/07/2006 |
- |
Active |
NO |
|
10 |
U51100MH2004PTC146355
|
RSBL COMMODITIES
PRIVATE LIMITED |
Additional
director |
10/11/2006 |
10/11/2006 |
29/09/2007 |
Active |
NO |
|
Name : |
Mr. Arvind Vithaldas Joshi |
|
Designation : |
Director |
|
Address : |
Plot No.182, Sector 4, Gandhidham-370201, Gujarat, India |
|
Date of Birth/Age : |
12.10.1946 |
|
Date of Appointment : |
15.12.1992 |
|
DIN No.: |
00254213 |
Other Directorship:
|
S.
No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U65910GJ1992PTC018693
|
FRIENDS
MERCANTILE PRIVATE LIMITED |
Director |
15/12/1992 |
15/12/1992 |
- |
Active |
NO |
|
2 |
U24110GJ1995PTC024228
|
FRIENDS OIL AND CHEMICAL
TERMINALS PRIVATE LIMITED |
Director |
16/01/1995 |
16/01/1995 |
- |
Active |
NO |
|
3 |
U63090GJ1995PTC024605
|
GAUTAM FREIGHT
PRIVATE LIMITED |
Director |
13/02/1995 |
13/02/1995 |
- |
Active |
NO |
|
4 |
U15201GJ1997PLC032108
|
TERA PANTH FOODS
LIMITED |
Director |
01/07/1998 |
01/07/1998 |
- |
Active |
NO |
|
5 |
U91110GJ1967GAP001454
|
KANDLA
STEVEDORES ASSOCIATION LIMITED |
Director |
13/08/2003 |
13/08/2003 |
- |
Active |
NO |
|
6 |
U35110GJ1995PTC024196
|
FRIENDS AND
FRIENDS SHIPPING PRIVATE LIMITED |
Director |
03/10/2003 |
03/10/2003 |
- |
Active |
NO |
|
Name : |
Ms. Badamidevi Sukhraj Singhvi |
|
Designation : |
Director |
|
Address : |
Plot No.100, Sector 2, Gandhidham-370201, Gujarat, India |
|
Date of Birth/Age : |
03.12.1952 |
|
Date of Appointment : |
01.01.2001 |
|
DIN No.: |
00249291 |
|
|
|
|
Name : |
Ms. Lalitadevi Babulal Singhvi |
|
Designation : |
Director |
|
Address : |
Plot No.99, Sector 2, Gandhidham-370201, Gujarat, India |
|
Date of Birth/Age : |
23.02.1958 |
|
Date of Appointment : |
01.01.2001 |
|
DIN No.: |
00249342 |
|
|
|
|
Name : |
Ms. Nirmaladevi Tribhuvan Singhvi |
|
Designation : |
Director |
|
Address : |
Plot No.101, Sector 2, Gandhidham-370201, Gujarat, India |
|
Date of Birth/Age : |
20.01.1960 |
|
Date of Appointment : |
01.01.2001 |
|
DIN No.: |
00249399 |
|
|
|
|
Name : |
Ms. Damyantiben Vithaldas Joshi |
|
Designation : |
Director |
|
Address : |
Plot No.182, Sector 4, Gandhidham-370201, Gujarat, India |
|
Date of Birth/Age : |
02.08.1927 |
|
Date of Appointment : |
01.01.2001 |
|
|
|
|
Name : |
Mr. Tribhuvan Amarchand Singhvi |
|
Designation : |
Director |
|
Address : |
Plot No.101, Sector 2, Gandhidham-370201, Gujarat, India |
|
Date of Birth/Age : |
26.01.1960 |
|
Date of Appointment : |
20.10.2003 |
|
DIN No.: |
00248190 |
Other Directorship:
|
S.
No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U35110GJ1995PTC024196
|
FRIENDS AND
FRIENDS SHIPPING PRIVATE LIMITED |
Director |
13/01/1995 |
13/01/1995 |
- |
Active |
NO |
|
2 |
U15201GJ1997PLC032108
|
TERA PANTH FOODS
LIMITED |
Director |
15/04/1997 |
15/04/1997 |
- |
Active |
NO |
|
3 |
U65910GJ1992PTC018693
|
FRIENDS
MERCANTILE PRIVATE LIMITED |
Director |
20/10/2003 |
20/10/2003 |
- |
Active |
NO |
|
4 |
U63023KA1996PTC019518
|
PEARL PORTS AND
WAREHOUSING PRIVATE LIMITED |
Director |
25/03/2006 |
25/03/2006 |
01/03/2012 |
Active |
NO |
|
5 |
U10102AP2004PTC044967
|
NIDHI MINING
PRIVATE LIMITED |
Additional
director |
12/07/2006 |
12/07/2006 |
- |
Active |
NO |
|
6 |
U24100GJ2012PTC073180
|
AARAV SALT &
CHEMICALS PRIVATE LIMITED |
Director |
31/12/2012 |
31/12/2012 |
- |
Active |
NO |
|
7 |
U24298GJ2012PTC073179
|
AADESH BRINE
PRIVATE LIMITED |
Director |
31/12/2012 |
31/12/2012 |
- |
Active |
NO |
|
8 |
L24238MH1950PLC008313
|
THE KUTCH SALT
AND ALLIED INDUSTRIES LIMITED |
Director |
01/01/2013 |
01/01/2013 |
- |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Kamal Maheshwari |
|
Designation : |
Finance Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Arvind Vithaldas Joshi |
9550 |
|
Sukhraj Amarchand Singhvi |
9540 |
|
Tribhuvan Amarchand Singhvi |
9430 |
|
Ramesh A Singhvi |
9000 |
|
Ashok A Singhvi |
9000 |
|
Babulal A Singhvi |
8990 |
|
Jagrutiben A Joshi |
8740 |
|
Lalitadevi Babulal Singhvi |
5000 |
|
Mahesh Joshi |
8900 |
|
Friends Salt Works and Allied Ind, India |
10 |
|
Gautam Freight Private Limited, India |
10 |
|
Tribhuvan Amarchand Singhvi (HUF) |
3500 |
|
Kandla Export Corporation, India |
30 |
|
Nirmaladevi Tribhuvan Singhvi |
1040 |
|
Anandidevi A Singhvi |
5000 |
|
Rajkumar R Singhvi |
5000 |
|
Arvind Vithaldas Joshi (HUF) |
2810 |
|
Jitendra Singhvi |
4450 |
|
TOTAL
|
100000 |
AS ON 30.09.2010
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Bodies corporate |
0.01 |
|
Directors or relatives of Directors |
93.64 |
|
Other top fifty shareholders |
6.35 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading of various commodities |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
·
State Bank of India, SME Bhai Pratap Circle, Plot
No.258, Ward 12/B, Opposite President, Gandhidham-370201, Gujarat, India |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Dilip Shrimal and Associates Chartered Accountant |
|
Address : |
BBZ-N-57, 1st Floor, Zanda Chowk, Gandhidham-370201,
Gujarat, India |
|
PAN No.: |
AVLPS4924K |
|
|
|
|
Associates : |
·
Arvind V Joshi and Company ·
Kandla Export Corporation ·
Terapanth Foods Limited ·
Friends Salt Works and Allied Industries ·
Friends and Friends Shipping Private Limited ·
The Kutch Salt and Allied Industries Limited |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.100/- each |
Rs. 10.000 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 |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
10.000 |
10.000 |
10.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
42.692 |
39.455 |
24.650 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
52.692 |
49.455 |
34.650 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
134.554 |
183.625 |
144.803 |
|
|
2] Unsecured Loans |
0.000 |
0.978 |
0.005 |
|
|
TOTAL BORROWING |
134.554 |
184.603 |
144.808 |
|
|
DEFERRED TAX LIABILITIES |
0.073 |
0.102 |
0.114 |
|
|
|
|
|
|
|
|
TOTAL |
187.319 |
234.160 |
179.572 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.591 |
0.693 |
0.814 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.008 |
2.008 |
2.008 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
112.731
|
196.568 |
278.118 |
|
|
Sundry Debtors |
43.992
|
5.268 |
32.424 |
|
|
Cash & Bank Balances |
1.326
|
1.955 |
44.595 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
50.777
|
127.227 |
110.493 |
|
Total
Current Assets |
208.826
|
331.018 |
465.630 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
15.511
|
88.743 |
246.258 |
|
|
Other Current Liabilities |
4.745
|
1.816 |
39.852 |
|
|
Provisions |
1.850
|
9.000 |
2.770 |
|
Total
Current Liabilities |
22.106
|
99.559 |
288.880 |
|
|
Net Current Assets |
186.720
|
231.459 |
176.750 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
187.319 |
234.160 |
179.572 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
812.263 |
2132.030 |
2946.746 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
|
|
|
|
|
|
Purchase of Stock In Trade |
|
|
|
|
|
|
Employee benefits expenses |
|
|
|
|
|
|
TOTAL |
807.133 |
2108.152 |
2938.856 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
5.130 |
23.878 |
7.890 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
0.102 |
0.121 |
0.144 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
5.028 |
23.757 |
7.746 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.850 |
9.000 |
2.770 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
3.178 |
14.757 |
4.976 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
19.455 |
14.650 |
12.942 |
|
|
|
|
|
|
|
|
|
Add |
Prior Year Adjustment |
0.031 |
0.036 |
(0.011) |
|
|
|
|
|
|
|
|
|
Add |
Excess Provision of Deferred Tax Written Back |
0.028 |
0.012 |
0.076 |
|
|
|
|
|
|
|
|
|
Less |
Provision for NPA |
0.000 |
0.000 |
(1.667) |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
10.000 |
10.000 |
5.000 |
|
|
BALANCE CARRIED
TO THE B/S |
12.692 |
19.455 |
14.650 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
844.441 |
1864.348 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
31.78 |
147.57 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.39
|
0.69 |
0.17 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.40
|
7.16 |
1.66 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
0.48 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.55
|
3.73 |
4.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
9.45
|
3.32 |
1.61 |
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 |
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 |
No |
|
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 |
Yes |
|
Unsecured Loan |
Rs.
In Millions 31.03.2010 |
Rs.
In Millions 31.03.2009 |
|
Temporary Overdraft Account with State Bank of Indore, Gandhidham |
0.000 |
0.478 |
|
From Companies |
0.000 |
0.500 |
|
|
|
|
|
TOTAL |
0.000 |
0.978 |
VIEW INDEX OF
CHARGES – No charges exist for the company
OPERATIONS
During the year, turnover of the company has been reduced sharply from Rs.
2136.632 Millions to Rs. 878.475 Millions, the Profit after Tax has also
reduced accordingly from Rs. 14.756 Millions to Rs. 3.178 Millions. However,
directors expect better performance in the coming years.
FIXED ASSETS
·
Furniture and Fixture
·
Air Conditioner
·
Vehicles
·
Office Equipments
·
Scooter
·
Electric Fittings
·
Machine Equipments on
Lease
·
Computer and Printer
·
Mobile and Phones
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. 61.53 |
|
UK Pound |
1 |
Rs. 99.74 |
|
Euro |
1 |
Rs. 84.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
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 |
2 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
25 |
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.