MIRA INFORM REPORT
|
Report Date : |
14.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
EXPANDED POLYMER SYSTEMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
C – 44/1 and 2, C – 45/3, TTC Area, Pawne MIDC, Vashi, Navi Mumbai –
400705, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
02.11.2007 |
|
|
|
|
Com. Reg. No.: |
11-175657 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.120.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24134MH2007PTC175657 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUME00833A/ MUME07100C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAAFE0142M/ AABCE8627R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Polyols. |
|
|
|
|
No. of Employees
: |
80 (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 550000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having a moderate track record. The company has improved its performance in terms of sales but the profit
margin appears to be low. Short term external borrowings seems to be
increasing which may affect the liquidity position of the company. However, trade relations are fair. Business is active. Payment terms
are 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.
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term loans: BB |
|
Rating Explanation |
Moderate risk of default |
|
Date |
September 2012 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term non fund based working capital facilities: A4 |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
September 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 PARTED BY
|
Name : |
Mr. Hemant Pandya |
|
Designation : |
Senior Manager Accounts |
|
Contact No.: |
91-22-27670838 |
|
Date : |
11.09.2013 |
LOCATIONS
|
Registered Office / Factory : |
C – 44/1 and 2, C – 45/3, TTC Area, Pawne MIDC, Vashi, Navi Mumbai –
400705, Maharashtra, India |
|
Tel. No.: |
91-22-27670838/ 27670839/ 27680303/ 27680404/ 30914300 |
|
Fax No.: |
91-22-27671065 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
DIRECTORS
As on 17.09.2012
|
Name : |
Mr. Mukesh Shantilal Bhuta |
|
Designation : |
Managing Director |
|
Address : |
1101, Alaknanda CHS Limited, 7th |
|
Date of Birth/Age : |
12.08.1953 |
|
Qualification : |
Science Graduate, B.E. Tech |
|
Date of Appointment : |
01.08.2009 |
|
PAN No.: |
AAAPB7437Q |
|
DIN No.: |
00801515 |
|
|
|
|
Name : |
Dr. Vaman Jasvantrai Mehta |
|
Designation : |
Director |
|
Address : |
24, Garodia Palace, 198, Garodia Nagar, Ghatkopar (East), Mumbai – 400
077, |
|
Date of Birth/Age : |
08.01.1934 |
|
Date of Appointment : |
02.11.2007 |
|
PAN No.: |
AAAPM9031F |
|
DIN No.: |
01214512 |
|
|
|
|
Name : |
Mr. Ajit Shantilal Bhuta |
|
Designation : |
Director |
|
Address : |
1101, Alaknanda CHS Limited, 7th |
|
Date of Birth/Age : |
12.03.1951 |
|
Date of Appointment : |
02.11.2007 |
|
PAN No.: |
AABPB0541Q |
|
DIN No.: |
00802006 |
|
|
|
|
Name : |
Mr. Chandulal Kalidas Shah |
|
Designation : |
Director |
|
Address : |
64/A, Manju Niketan, Opposite Topiwala Cinema, Topiwala Compound, S.V.
Road, Goregaon (West), Mumbai – 400 062, Maharashtra, India |
|
Date of Birth/Age : |
07.09.1941 |
|
Date of Appointment : |
29.09.2008 |
|
PAN No.: |
AADPS9643Q |
|
DIN No.: |
01977071 |
KEY EXECUTIVES
|
Name : |
Mr. Hemant Pandya |
|
Designation : |
Senior Manager Accounts |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 17.09.2012
|
Names of Shareholders |
No. of Shares |
|
Mukesh Shantilal Bhuta |
8400000 |
|
Vaman Jasvantrai Mehta |
960000 |
|
Jayshree Ajit Bhuta |
300000 |
|
Ajit Shantilal Bhuta |
300000 |
|
Harsh Vaman Mehta |
120000 |
|
Medha Mukesh Bhuta |
600000 |
|
Hema C Shah and Vaman Jasvantrai Mehta |
120000 |
|
Mikhail Mukesh Bhuta |
1200000 |
|
TOTAL
|
12000000 |
Equity Share Break up (Percentage of Total Equity)
As on 17.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Polyols. |
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Products : |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
L/C and Credit |
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Purchasing : |
L/C and Credit |
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Unit |
Installed Capacity |
Actual Production |
|
Polyols |
MT |
17100 |
10819 |
NOTE:
- Licensed capacity is not applicable in view of the company’s
products having been de-licensed as per new licensing policy announced by
the Government of India.
- Installed capacity is as certified by the management and accepted
by auditors as this is a technical matter.
GENERAL INFORMATION
|
Customers : |
End Users |
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No. of Employees : |
80 (Approximately) |
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Bankers : |
·
Bank of India,
Desai Niwas, M. G. Road, Ghatkopar (West), Mumbai – 400086,
Maharashtra, India ·
Bank of India, Andheri Mid Corporate Branch, BOI
Building, 1st Floor, 28, S.V. Road, Andheri (West), Mumbai-400058,
Maharashtra, India ·
Standard Chartered Bank, SME Credit, Crescenzo,
3A/F, Plot no. C-38 and 39, G Block, Bandra Kurla Complex, Bandra East, Mumbai
- 400051, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
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|
Auditors : |
|
|
Name : |
C.M. Gabhawala and Company Chartered Accountants |
|
Address : |
42, Nanik Nivas, 30 Dr. D.D. Sathe Marg, Girgaum, Mumbai – 400004,
Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFC1255D |
|
|
|
|
Associates : |
·
Ajit Bhuta and Associates ·
Shantilal and Company Private Limited ·
Pushpak Properties |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12000000 |
Equity Shares |
Rs.10/- each |
Rs. 120.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12000000 |
Equity Shares |
Rs.10/- each |
Rs. 120.000 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 |
|
120.000 |
100.000 |
|
(b) Reserves & Surplus |
|
17.160 |
(1.176) |
|
(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) |
|
137.160 |
98.824 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
190.787 |
204.204 |
|
(b) Deferred tax liabilities (Net) |
|
2.382 |
8.591 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
9.048 |
0.063 |
|
Total Non-current
Liabilities (3) |
|
202.217 |
212.858 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
329.790 |
278.431 |
|
(b) Trade
payables |
|
487.454 |
275.031 |
|
(c) Other
current liabilities |
|
142.468 |
122.141 |
|
(d) Short-term
provisions |
|
0.872 |
0.000 |
|
Total Current
Liabilities (4) |
|
960.584 |
675.603 |
|
|
|
|
|
|
TOTAL |
|
1299.961 |
987.285 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
392.583 |
334.054 |
|
(ii)
Intangible Assets |
|
0.047 |
1.570 |
|
(iii)
Capital work-in-progress |
|
34.465 |
1.920 |
|
(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 |
|
6.288 |
2.911 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
433.383 |
340.455 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
250.684 |
249.951 |
|
(c) Trade
receivables |
|
412.584 |
252.570 |
|
(d) Cash
and cash equivalents |
|
77.942 |
60.171 |
|
(e)
Short-term loans and advances |
|
119.326 |
83.329 |
|
(f) Other
current assets |
|
6.042 |
0.809 |
|
Total
Current Assets |
|
866.578 |
646.830 |
|
|
|
|
|
|
TOTAL |
|
1299.961 |
987.285 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
100.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
40.273 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
140.273 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
308.791 |
|
|
2] Unsecured Loans |
|
|
111.276 |
|
|
TOTAL BORROWING |
|
|
420.067 |
|
|
DEFERRED TAX LIABILITIES |
|
|
3.600 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
563.940 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
316.897 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
101.097
|
|
|
Sundry Debtors |
|
|
244.254
|
|
|
Cash & Bank Balances |
|
|
60.787
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
70.226
|
|
Total
Current Assets |
|
|
476.364
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
206.645
|
|
|
Other Current Liabilities |
|
|
1.354
|
|
|
Provisions |
|
|
21.655
|
|
Total
Current Liabilities |
|
|
229.654
|
|
|
Net Current Assets |
|
|
246.710
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.333 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
563.940 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Total Revenue |
2050.268 |
1351.537 |
1160.689 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
Financial Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
36.568 |
(25.467) |
50.634 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
24.233 |
12.299 |
10.275 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
12.335 |
(37.766) |
40.359 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(6.001) |
3.682 |
8.450 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
18.336 |
(41.448) |
31.909 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(5.176) |
36.272 |
12.193 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
2.000 |
|
|
|
Proposed Dividend [Including Dividend Tax] |
0.000 |
0.000 |
5.830 |
|
|
BALANCE CARRIED
TO THE B/S |
13.160 |
(5.176) |
36.272 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
50.204 |
22.654 |
29.398 |
|
|
|
Commission Received |
11.076 |
10.382 |
5.074 |
|
|
TOTAL EARNINGS |
61.280 |
33.036 |
34.472 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
809.898 |
575.349 |
|
|
|
Stores & Spares |
|
0.000 |
5.125 |
|
|
|
Capital Goods |
|
0.059 |
0.000 |
|
|
TOTAL IMPORTS |
1112.774 |
809.957 |
580.474 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
1.53 |
(4.14) |
3.19 |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
2500.000 |
The above information has been parted by Mr. Hemant Pandya (Senior
Manager Accounts)
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.95
|
(3.83) |
7.16 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
(0.38) |
0.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.80
|
4.88 |
2.99 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.90
|
0.96 |
2.07 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
Current maturities of long-term debt |
44.231 |
39.266 |
NA
|
|
|
|
|
|
|
Total |
44.231 |
39.266 |
NA
|
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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
four years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming financial
year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOAN
|
PARTICULARS |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Rupee term loans from banks |
6.717 |
15.647 |
|
Loans and advances from related parties |
100.962 |
105.950 |
|
Total |
107.679 |
121.597 |
OPERATIONS:
The company has earned total revenue of Rs. 2050.268 Millions (Previous
year 1351.537 Millions) during the year, and incurred profit after tax of
Rs.18.335 Millions and thereby wiping off carried forward loss of Rs.5.176
Millions.
The bulk storage tank at Gujarat Chemical Terminal Port Company Limited
has been successfully in operation since March, 2011. With the increased
availability of main raw material, Propylene Oxide and with good demand for the
products, the company has increased one more line of production at Dahej unit
during the year which has commenced production during the year.
BACKGROUND
The company has been converted from partnership firm to a Private
Limited Company on 2 November 2007 under chapter IX of the Companies Act, 1956
vide certificate of incorporation issued on 2 November 2007.
No.-U24134MH2007PTC175657
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U24134MH2007PTC175657 |
|
Name of the
company |
EXPANDED POLYMER
SYSTEMS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
C – 44/1 and 2, C – 45/3, TTC Area, Pawne MIDC, Vashi, Navi Mumbai –
400705, Maharashtra, India Email: rmehta@expanded.co.in
|
|
This form is for |
Creation of charge |
|
Type of charge |
·
Book debts ·
Movable
property (not being pledge) ·
Floating charge |
|
Particular of
charge holder |
Standard Chartered Bank, SME Credit, Crescenzo, 3A/F, Plot no. C-38
and 39, G Block, Bandra Kurla Complex, Bandra East, Mumbai - 400051,
Maharashtra, India Email: sme.form8@sc.com |
|
Nature of
instrument creating charge |
Hypothecation
Agreement |
|
Date of
instrument Creating the charge |
20.03.2013 |
|
Amount secured by
the charge |
Rs.200.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As agreed by and
with the Bank from time to time. Terms of
Repayment As agreed by and
with the Bank from time to time. Margin As applicable, if
any. Extent and
Operation of the charge The Bank is
having pari passu charge with Bank of India on the security given by the
Company. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation by
way of pari passu charge with Bank of India on: a) all the stock in trade
both present and future consisting of raw materials, finished goods, goods in
process of manufacturing and other merchandise b) all the present and future
book debts, outstanding moneys receivable, claims and bills. |
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Factory
building
- Plant and
equipment
- Factory
equipments
- Furniture and
fixtures
- Vehicles
- Motor
vehicles
- Office
equipment
- Computer
equipments
- Other
equipments
Intangible assets
- Computer
software
- Know-how
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.63.79 |
|
|
1 |
Rs.100.73 |
|
Euro |
1 |
Rs.84.67 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
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 |
|
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.