MIRA INFORM REPORT
|
Report Date : |
19.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
OM FREIGHT FORWARDERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
101, Jayant Apartment, 'A' Wing, Opposite Sahar Cargo Complex, Andheri
(East), Mumbai – 400099, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
16.06.1995 |
|
|
|
|
Com. Reg. No.: |
11-089620 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.284 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U63011MH1995PTC089620 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMO01183 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in providing international logistics and
freight forwarding services. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1400000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record. Eventhough the company has seen an increase in its sales turnover,
there appears a drastic dip in the net profitability during 2012. However, overall position of the company seems to be decent. Trade relations are fair. Business is active. Payment terms are
reported as usually correct. The company can be considered for business dealings at usual trade
terms and condition. |
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.
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. Jayesh Pauva |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-22-25657999 |
|
Date : |
18.09.2013 |
LOCATIONS
|
Registered Office / Air
Freight : |
101, Jayant Apartment, 'A' Wing, Opposite Sahar Cargo Complex, Andheri
(East), Mumbai – 400099, Maharashtra, India |
|
Tel. No.: |
91-22-25657999 |
|
Fax No.: |
91-22-26817599 |
|
E-Mail : |
|
|
|
|
|
Corporate Office
and Sea Freight: |
707-713, Corporate Centre, Nirmal Life Style, L.B.S. Road,
Mulund - West, Mumbai - 400 080, Maharashtra, India |
|
Tel No.: |
91-22-25657999/ |
|
Fax No.: |
91-22-25657907 |
|
E-Mail : |
|
|
|
|
|
Indian Branches Office: |
Located at
|
|
|
|
|
Overseas Branches Office: |
Located at
|
DIRECTORS
As on 30.09.2012
|
Name : |
Mr. Rahul Jagannath Joshi |
|
Designation : |
Managing director |
|
Address : |
704, Prim Rose, Rachna Garden, Gurugovindsingh Road, Mulund (West), Mumbai
– 400082, Maharashtra, India |
|
Date of Birth/Age : |
07.08.1962 |
|
Date of Appointment : |
16.06.1995 |
|
DIN No.: |
00114172 |
|
|
|
|
Name : |
Kaushik Jagannath Joshi |
|
Designation : |
Whole-time director |
|
Address : |
504 Lok Aangan, Guru Govind Singh Road, Mulund Colony, Mulund (Easy),
Mumbai-400080, Maharashtra, India |
|
Date of Birth/Age : |
16.10.1965 |
|
Date of Appointment : |
01.12.1995 |
|
DIN No.: |
00410595 |
|
|
|
|
Name : |
Mr. Harmesh Rahul Joshi |
|
Designation : |
Director |
|
Address : |
704, Prim Rose, Rachna Garden, Gurugovindsingh Road, Mulund (West),
Mumbai- 400 082, Maharashtra, India |
|
Date of Birth/Age : |
25.10.1986 |
|
Date of Appointment : |
09.12.2004 |
|
DIN No.: |
00123583 |
|
|
|
|
Name : |
Mr. Jagannath Vasanji Joshi |
|
Designation : |
Director |
|
Address : |
705,Prime Rose, Rachna Garden, G.G. Singh Road, Mulund Colony, Mulund
(West), Mumbai – 400082, Maharashtra, India |
|
Date of Birth/Age : |
24.05.1936 |
|
Date of Appointment : |
07.06.2012 |
|
DIN No.: |
00409384 |
|
|
|
|
Name : |
Mr. Jeetendra Maganlal Joshi |
|
Designation : |
Director |
|
Address : |
D/34, Aram society, Vokola Pipeline, Santacruz (East), Mumbai –
400055, Maharashtra, India |
|
Date of Birth/Age : |
02.03.1957 |
|
Date of Appointment : |
07.06.2012 |
|
DIN No.: |
00410286 |
|
|
|
|
Name : |
Mr. Sanjiv Prabhashankar Joshi |
|
Designation : |
Director |
|
Address : |
133/199, Om Aashirwad, Hindustan Chowk, Mulund Colony, Mulund (West),
Mumbai-400082, Maharashtra, India |
|
Date of Birth/Age : |
28.02.1968 |
|
Date of Appointment : |
25.06.1996 |
|
DIN No.: |
00410437 |
|
|
|
|
Name : |
Mr. Rajnikant Ramanath Joshi |
|
Designation : |
Director |
|
Address : |
D-303, Mount Classic-2, Yogi Hill, Mulund (West), Mumbai-400080, Maharashtra,
India |
|
Date of Birth/Age : |
05.05.1954 |
|
Date of Appointment : |
07.06.2012 |
|
DIN No.: |
00416772 |
|
|
|
|
Name : |
Mr. Kamesh Rahul Joshi |
|
Designation : |
Director |
|
Address : |
704, Prim Rose, Rachna Garden, Gurugovindsingh Road, Mulund (West),
Mumbai- 400 082, Maharashtra, India |
|
Date of Birth/Age : |
15.03.1989 |
|
Date of Appointment : |
10.04.2007 |
|
DIN No.: |
01436934 |
KEY EXECUTIVES
|
Name : |
Mr. Jayesh Pauva |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Rahul J. Joshi |
|
20100 |
|
Jagannath Vishanji Joshi |
|
100 |
|
Jitendra Maganlal Joshi |
|
200 |
|
Kanaiyalal Upadhaya |
|
100 |
|
Sheela Anil Joshi |
|
100 |
|
Hina Dharmendra Joshi |
|
100 |
|
Maya Rahul Joshi |
|
2600 |
|
Jagruti Sanjiv Joshi |
|
200 |
|
Pankaj Rajnikanth Joshi and Jayshree P. Joshi |
|
100 |
|
Premabai Ramnath Joshi |
|
100 |
|
Sanjiv Prabhashankar Joshi |
|
100 |
|
Anil Shivaji Joshi |
|
100 |
|
Prabhashankar Vishanji Joshi |
|
100 |
|
Neeta Jitendra Joshi |
|
100 |
|
Zarna Ashwin Gala |
|
100 |
|
Neela Bharat Joshi |
|
100 |
|
Rahul Joshi H.U.F. |
|
3500 |
|
Manjula Mavji Gala |
|
100 |
|
Amita Kaushik Joshi |
|
10 |
|
Kaushik Jagnnath Joshi |
|
10 |
|
Om Finmart Services Private Limited, India |
|
10 |
|
Nisha Rajnikant Joshi |
|
10 |
|
Harmesh Rahul Joshi |
|
130 |
|
Kamesh Rahul Joshi |
|
230 |
|
Kejal Harmesh Joshi |
|
50 |
|
|
|
|
|
Total |
|
28350 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2012
|
Category |
Percentage |
|
Bodies corporate |
0.03 |
|
Directors or relatives of Directors |
86.53 |
|
Other top fifty shareholders |
13.44 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in providing international logistics and
freight forwarding services. |
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Products / Services: |
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GENERAL INFORMATION
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Customers: |
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Suppliers: |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Banking
Relations : |
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|
Auditors : |
|
|
Name : |
Gala and Associates Chartered Accountants |
|
Address : |
403,Jai Commercial Plaza, S.L.Road, Mulund (West), Mumbai – 400080,
Maharashtra, India |
|
Tel. No.: |
91-22-25909673 |
|
E-Mail : |
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PAN N Income-tax PAN of auditor or auditor's firm : |
ABEPG4731F |
|
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Group Companies: |
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CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs. 0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
28350 |
Equity Shares |
Rs.10/- each |
Rs. 0.284
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 |
|
0.284 |
0.284 |
|
(b) Reserves & Surplus |
|
341.415 |
296.102 |
|
(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) |
|
341.699 |
296.386 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
46.851 |
13.003 |
|
(b) Deferred tax liabilities (Net) |
|
2.621 |
2.342 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
49.472 |
15.345 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
60.711 |
39.939 |
|
(b) Trade
payables |
|
84.264 |
93.702 |
|
(c) Other
current liabilities |
|
29.843 |
32.146 |
|
(d) Short-term
provisions |
|
26.029 |
35.719 |
|
Total Current
Liabilities (4) |
|
200.847 |
201.506 |
|
|
|
|
|
|
TOTAL |
|
592.018 |
513.237 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
95.718 |
50.645 |
|
(ii)
Intangible Assets |
|
4.241 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
9.282 |
7.706 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
3.858 |
3.785 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
113.099 |
62.136 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
122.197 |
125.924 |
|
(b)
Inventories |
|
0.000 |
0.000 |
|
(c) Trade
receivables |
|
227.902 |
227.627 |
|
(d) Cash
and cash equivalents |
|
21.840 |
31.234 |
|
(e)
Short-term loans and advances |
|
78.975 |
56.638 |
|
(f) Other
current assets |
|
28.005 |
9.678 |
|
Total
Current Assets |
|
478.919 |
451.101 |
|
|
|
|
|
|
TOTAL |
|
592.018 |
513.237 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.284 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
223.235 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
223.519 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
7.148 |
|
|
2] Unsecured Loans |
|
|
4.982 |
|
|
TOTAL BORROWING |
|
|
12.130 |
|
|
DEFERRED TAX LIABILITIES |
|
|
2.822 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
238.471 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
38.015 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
116.153 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000
|
|
|
Sundry Debtors |
|
|
157.433
|
|
|
Cash & Bank Balances |
|
|
10.260
|
|
|
Other Current Assets |
|
|
1.890
|
|
|
Loans & Advances |
|
|
18.427
|
|
Total
Current Assets |
|
|
188.010
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
|
Other Current Liabilities |
|
|
|
|
|
Provisions |
|
|
(13.920)
|
|
Total
Current Liabilities |
|
|
103.707
|
|
|
Net Current Assets |
|
|
84.303
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
238.471 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
|
|
TOTAL INCOME |
376.469 |
310.591 |
223.749 |
|
|
|
|
|
|
|
|
TOTAL
EXPENDITURE |
307.828 |
198.775 |
184.367 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
FOR THE YEAR AFTER TAX |
45.313 |
72.867 |
25.054 |
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
86.693 |
521.299 |
257.223 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1598.34 |
2570.26 |
883.72 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
12.04
|
23.46 |
11.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.31
|
0.18 |
0.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.38
|
2.24 |
1.81 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS: NOT AVAILABLE
|
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 |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
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) |
|
Short term
Borrowing |
|
|
|
Loan And Advances From Related Parties:- |
|
|
|
Harmesh Joshi |
3.136 |
0.337 |
|
Kaushik Joshi |
0.225 |
1.025 |
|
Pankaj R Joshi |
0.912 |
0.823 |
|
Rahul J. Joshi [HUF] |
1.162 |
1.000 |
|
Rahul Joshi |
10.623 |
11.018 |
|
Rajnikant Joshi |
1.072 |
0.699 |
|
Sheela A. Joshi |
0.837 |
0.795 |
|
From Others |
|
|
|
Anils. Joshi |
0.627 |
0.598 |
|
Kanaiyalal V. Upadhyay |
0.133 |
0.134 |
|
Manjulagala |
0.224 |
0.224 |
|
Zarna Ashwin Gala |
0.166 |
0.150 |
|
Total |
19.117 |
16.803 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10383733 |
03/09/2012 |
5,112,000.00 |
HDFC BANK LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B61005864 |
|
2 |
10382545 |
27/08/2012 |
2,556,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B60463387 |
|
3 |
10382546 |
27/08/2012 |
5,112,000.00 |
HDFC BANK LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B60463502 |
|
4 |
10362783 |
04/05/2012 |
1,906,000.00 |
HDFC BANK LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B42528919 |
|
5 |
10357220 |
10/04/2012 |
11,876,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN
BHAVAN, 227, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B40168643 |
|
6 |
10342531 |
13/03/2012 |
12,785,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B35148089 |
|
7 |
10342532 |
13/03/2012 |
12,785,000.00 |
HDFC BANK LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B35148659 |
|
8 |
10341299 |
29/02/2012 |
4,645,468.00 |
HDFC BANK LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B34615021 |
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 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.63.14 |
|
|
1 |
Rs.100.48 |
|
Euro |
1 |
Rs.84.37 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
49 |
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.