MIRA INFORM REPORT
|
Report Date : |
20.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
LOHIA CORP LIMITED (w.e.f. 07.03.2013) |
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Formerly Known
As : |
LOHIA STARLINGER LIMITED (w.e.f. 31.12.1987) LOHIA STARLINGER PRIVATE LIMITED |
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Registered
Office : |
D-3/A, Panki Industrial Estate, Kanpur – 208022, Uttar Pradesh |
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Country : |
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Financials (as
on) : |
31.03.2012 (Profit and Loss A/c) |
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Date of
Incorporation : |
05.10.1981 |
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Com. Reg. No.: |
20-005446 |
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Capital
Investment / Paid-up Capital : |
Rs.50.715 Millions |
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CIN No.: [Company Identification
No.] |
U29263UP1981PLC005446 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
KNPL00108D |
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PAN No.: [Permanent Account No.] |
AAACL2470J |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of PP/HDPE Tape Extrusion Lines and Lamination Plants for
Plastic Woven Fabric. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (63) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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Maximum Credit Limit : |
USD 8500000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having a good track record. The
financial for the year 2012 is not available. As per the financial of 2012, the company performance seems to be strong.
Liquidity position appears to be good. Trade relations are reported to be fair. Business is active. Payments
are reported to be regular and as per commitments. The company can be considered for normal business dealings at usual
trade te4rms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating: AA- |
|
Rating Explanation |
Having high degree of safety regarding
timely servicing of financial obligation, it carry very low credit risk. |
|
Date |
December, 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.
LOCATIONS
|
Registered/ Head
Office/ Factory : |
D-3/A, Panki Industrial Estate, Kanpur – 208022, Uttar Pradesh, India |
|
Tel. No.: |
91-512-3045100/ 2691221 |
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Fax No.: |
91-512-3045299/ 2691249 |
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E-Mail : |
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Website : |
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Export Sales : |
218, Ansal Chambers II, Bhikaji Cama Place, New Delhi –
110066, India |
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Tel. No.: |
91 11 30641770 |
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Fax No.: |
91-11-30641771 |
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Branch Offices : |
Located at: · Ahmedabad · Bengaluru · New Delhi · Kolkata |
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Overseas Offices : |
Located at: · Thailand · Indonesia · UAE ·
North and Latin America
(Excluding Brazil, Chile, Argentina and Paraguay) · Brazil, Argentina, Paraguay and Chile |
DIRECTORS
(AS ON 24.12.2012)
|
Name : |
Mr. Vinay Sah |
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Designation : |
Whole Time Director |
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Address : |
Anand Shubha Dham, No.9, 7/213, Swaroop Nagar, Kanpur – 208002, Uttar
Pradesh, India |
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Date of Birth/Age : |
23.05.1955 |
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Date of Appointment : |
01.01.1997 |
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DIN No.: |
00203790 |
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|
Name : |
Mr. Raj Kumar Lohia |
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Designation : |
Managing Director |
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Address : |
113/91, Swaroop Nagar, Kanpur – 208002, Uttar Pradesh, India |
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Date of Birth/Age : |
21.08.1954 |
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Date of Appointment : |
05.10.1981 |
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DIN No.: |
00203659 |
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Name : |
Mr. Anurag Kumar Lohia |
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Designation : |
Whole-time Director |
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Address : |
“Saket”, 3A/88, Azad Nagar, Kanpur – 208002, Uttar Pradesh, India |
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Date of Birth/Age : |
18.05.1969 |
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Date of Appointment : |
27.07.2002 |
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DIN No.: |
00205680 |
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Name : |
Mr. Gopal Chandra Lohia |
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Designation : |
Director |
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Address : |
7/153-B, Swaroop Nagar, Kanpur – 208002, Uttar Pradesh, India |
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Date of Birth/Age : |
05.07.1937 |
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Date of Appointment : |
04.04.1983 |
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DIN No.: |
00203506 |
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Name : |
Mr. Prakash Chandra Joshi |
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Designation : |
Whole-time Director |
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Address : |
C-312, Seikh Sarai, Phase-1, Malaviya Nagar, Delhi – 110017, India |
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Date of Birth/Age : |
14.11.1957 |
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Date of Appointment : |
01.04.2009 |
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DIN No.: |
01255000 |
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Name : |
Mr. Paritosh Kumar Mukherjee |
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Designation : |
Additional Director |
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Address : |
Flat No.305, Srishti Apartment, 4/276 B, Parwati Bagla Road, Vishnupuri,
Kanpur – 208002, Uttar Pradesh, India |
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Date of Birth/Age : |
01.12.1942 |
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Date of Appointment : |
24.12.2012 |
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DIN No.: |
06467351 |
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Email : |
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Name : |
Mr. Naresh Kumar Gupta |
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Designation : |
Additional Director |
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Address : |
J-32, Sarita Vihar, New Delhi – 110044, India |
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Date of Birth/Age : |
15.04.1938 |
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Date of Appointment : |
24.12.2012 |
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DIN No.: |
00214602 |
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Email : |
KEY EXECUTIVES
|
Name : |
Mr. Arvind Kumar Bhargava |
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Designation : |
Company Secretary |
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Address : |
23.03.1963 |
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Date of Birth/Age : |
107, Bima Vihar, Lakhanpur, Kanpur – 208024, Uttar Pradesh, India |
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Date of Appointment : |
16.05.1995 |
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PAN No.: |
ACIPB6172E |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 24.12.2012)
|
Names of Shareholders |
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No. of Shares |
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Vinay Sah |
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240 |
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Raj Kumar Lohia |
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104000 |
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Anurag Kumar Lohia |
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64000 |
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Gopal Chandra Lohia |
|
100000 |
(AS ON 30.09.2012)
Equity Shares Break – up
|
Category |
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Percentage |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
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36.65 |
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Bodies corporate |
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43.30 |
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Directors or relatives of directors |
|
17.35 |
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Other top fifty shareholders |
|
0.49 |
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Others |
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2.21 |
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of PP/HDPE Tape Extrusion Lines and Lamination Plants for
Plastic Woven Fabric. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
· The Hongkong and Shanghai Banking Corporation Limited Birla Towers, 25 Barakhamba Road, New Delhi – 110001, India · Canara Bank 16/98, The Mall, Kanpur – 208001, Uttar Pradesh, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Anil Pariek and Garg Chartered Accountants |
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Address : |
33, Anand Bazar, Swaroop Nagar, Kanpur – 208002, Uttar Pradesh, India |
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PAN No.: |
AAAFG6229R |
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Associates : |
· Lohia Hongkong Limited, Hongkong |
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Subsidiaries : |
· Lohia Sales and Services Limited, India · Lohia Filament Machines Limited, India · Lohia Packaging Machines Limited, India · Divine Wellness Private Limited, India |
CAPITAL STRUCTURE
(AS ON 24.12.2012)
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
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|
|
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|
12000000 |
Equity Shares |
Rs.10/- each |
Rs.120.000 Millions |
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Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
5075000 |
Equity Shares |
Rs.10/- each |
Rs.50.750
Millions |
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FINANCIAL DATA
[All figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
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1] Share Capital |
|
50.715 |
50.715 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
2082.468 |
1660.419 |
|
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
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NETWORTH |
|
2133.183 |
1711.134 |
|
|
LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
|
479.668 |
189.187 |
|
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2] Unsecured Loans |
|
0.000 |
0.000 |
|
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TOTAL BORROWING |
|
479.668 |
189.187 |
|
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DEFERRED TAX LIABILITIES |
|
14.684 |
39.569 |
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|
|
|
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|
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TOTAL |
|
2627.535 |
1939.890 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
920.170 |
951.430 |
|
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Capital work-in-progress |
|
36.019 |
16.354 |
|
|
|
|
|
|
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INVESTMENT |
|
177.751 |
192.870 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
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|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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Inventories |
|
1201.371 |
966.708 |
|
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Sundry Debtors |
|
539.089 |
195.366 |
|
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Cash & Bank Balances |
|
25.890 |
73.964 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
712.347 |
312.109 |
|
Total
Current Assets |
|
2478.697 |
1548.147 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
500.565 |
466.491 |
|
|
Other Current Liabilities |
|
459.376 |
286.802 |
|
|
Provisions |
|
25.161 |
15.618 |
|
Total
Current Liabilities |
|
985.102 |
768.911 |
|
|
Net Current Assets |
|
1493.595 |
779.236 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
2627.535 |
1939.890 |
|
NOTE: Balance sheet for the year
2012 is not available only profit and loss a/c is available.
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
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|
SALES |
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Revenue from Operations |
5650.470 |
5473.861 |
3806.809 |
|
|
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Other Income |
171.494 |
200.464 |
150.258 |
|
|
|
TOTAL (A) |
5821.964 |
5674.325 |
3957.067 |
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
3363.273 |
3420.678 |
|
|
|
|
Purchases of stock-in-trade |
0.000 |
0.000 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
(123.475) |
(105.489) |
3356.660 |
|
|
|
Employee benefit expense |
477.781 |
407.528 |
|
|
|
|
Other expenses |
1151.017 |
1043.820 |
|
|
|
|
TOTAL (B) |
4868.596 |
4766.537 |
3356.660 |
|
|
|
|
|
|
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|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
953.368 |
907.788 |
600.407 |
|
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|
|
|
|
|
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|
Less |
FINANCIAL
EXPENSES (D) |
20.317 |
23.177 |
22.525 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
933.051 |
884.611 |
577.882 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
166.453 |
172.493 |
139.921 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
766.598 |
712.118 |
437.961 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
240.728 |
241.089 |
141.655 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
525.870 |
471.029 |
296.306 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
9.03
|
8.30 |
7.49 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
13.57
|
13.01 |
11.50 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
20.95 |
17.52 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.33 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
NA
|
0.22 |
0.11 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
NA
|
2.52 |
2.01 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in Report (Yes/ No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
----- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm / promoter
involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if
available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
No |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10401340 |
15/01/2013 |
136,620,000.00 |
The Hongkong and
Shanghai Banking Corporation Limited |
BIRLA HOUSE, 25
BARAKHAMBA ROAD, NEW DELHI |
B67390690 |
|
2 |
10394295 |
08/03/2013 * |
560,000,000.00 |
The Hongkong and
Shanghai Banking Corporation Limited |
BIRLA TOWERS, 25
BARAKHAMBA ROAD, NEW DELHI - 110001, INDIA |
B72290372 |
|
3 |
10394292 |
10/12/2012 |
560,000,000.00 |
The Hongkong and
Shanghai Banking Corporation Limited |
BIRLA TOWERS,
25, BARAKHAMBA ROAD, NEW DELHI - 110001, INDIA |
B64948631 |
|
4 |
90268857 |
03/09/2012 * |
1,552,500,000.00 |
State Bank of
India |
OVERSEAS BRANCH,
VIRENDRA SMRITI COMPLEX, 15/54 - B, CIVIL LINES, KANPUR, UTTAR PRADESH -
208001, INDIA |
B58576281 |
* Date of charge modification
PRESS RELEASE
PLASTINDIA 2012, NEW DELHI, INDIA
Kanpur, 2012
Lohia Starlinger Limited from its 150,000 m2 machine building facilities in Kanpur, India has been providing advanced solutions to the raffia or woven plastics flexible packaging industry around the world for more than 3 decades. It has built a population of over 800 Tape extrusion lines and 32,000 circular looms in over 60 countries with an installed processing capacity of 1.5 million tons of plastic. The global footprint of the company is underlined by its fully owned subsidiaries as well as liaison and branch offices in UAE, USA, Brazil, Thailand, Indonesia and China. It is ably supported by sales agents in all major woven sacks producing countries. In the last 5 years the company has delivered a number of innovations; in PP tape extrusion – duotec, tape winding – autoroto, circular weaving – nova6 and nova venti4 and PP yarn spinning – baby lofil.
Lohia Starlinger Limited participated in Plastindia 2012 with innovative solutions and updated machinery for flexible packaging industry. It continues to invest in developing technologies and products based on close understanding of market needs, bringing efficiency and reducing cost of quality of end products.
The company showcased its innovations in plastic tape extrusion (coex series), winding (ltw 200ce and autoroto), circular weaving (nova series) and also introduced its expanded product profile in extrusion coating (coatex 1500/90), flexographic printing in 6 colors (“Lohia-Pelican Soloprint”), Spin-draw-wind (lofil 80/8 HT) for PP multifilament yarn. All these machines received good response.
Production of PP tape (flat yarn) by co-extrusion on the latest offering, coex 1000hs, with melt output of 600 kg/hour drew special attention from visitors. The coex 1000hs brings to raffia industry the advantages of co-extrusion. Co-extrusion is an established technique in plastics that capitalizes on combining the properties of two or more polymer mixes such that the resultant lamellar structure produced displays properties that are superior or at least more desirable than either of the two or more polymers mixes individually. It could mean enhanced performance or lower costs or both.
The coex 1000hs demonstrated in the stand uses two separate extruders delivering the melt into the T-die to extrude a 3 layer film with the top and bottom layer from one extruder and the middle layer from the other extruder in pre-set ratio. Line speed of 425 m/min with high filler (CaCO3) content was demonstrated at Plastindia 2012 to produce PP tapes with a middle layer having 25% filler content and the upper and lower layer with just 3% filler as a possible solution to reduce the cost of raw material for certain application like low GSM wrapping fabric and lowering the dust generation in weaving, reducing damage to loom elements and also the production environment.
The company is conducting extensive trials at its development facility to develop the various recipes and application of co-extruded tapes for woven fabric and believes that co-extrusion can be successfully applied to deliver performance that is hitherto unsurpassed including possibility to optimize use of additives like UV stabilizers, antifogging agent, and colouring and recycled materials. Company is studying the feasibility to expand its co-extrusion line to include five layer tape production for value added applications in geotextiles, agro- textiles and composites.
COEX 1000HS had autoroto winders at the delivery end to make bobbins. These winders do away with the human efforts needed to transfer the tape from full bobbins to empty tubes at speeds in excess of 500 m/min and deliver tape packages of equal lengths. Using step-precision winding technique, the unwinding tension fluctuations is kept low and within a narrow band in the subsequent process of weaving. Autoroto introduced in year 2007, upgraded twice based on extensive field experiences is becoming the industry standard. Lohia Starlinger Limited clearly has become industry leader in winding technology.
Lohia Starlinger Limited carry a long accumulated knowledge of designing and delivering machinery for producing the plastic woven fabric for various components of certified quality FIBC/Big bags for a wide range of applications and has deep understanding of design, conversion, testing and certification processes of FIBC industry worldwide. Domain experts were present at Plastindia to help visitors choose the right combination and configuration of tape extrusion line, tape winders, looms and the downstream equipment. LOHIA demonstrated fabric cutting machine “fcm 1400” in the stand for cross cutting of fabric lengths and punching out holes for discharge/filling spouts and now offer special purpose machines like webbing/Belt cutting, bag cleaning, Hydraulic Pallet and Bale press.
The nova6 and nova10 add to the existing range of 6, 8 and 10 shuttle looms for producing fabric in tubular form or cut-open to make different components of customized big-bags. Whether it is low GSM filling/discharge spouts or medium to heavy GSM fabric for 1 or 2 loop bags or tubular fabrics with reinforced warp zones for 4 loop bags, the Lohia machines offer solution for high productivity, lower energy consumption at competitive costs. The nova venti 4 to produce ventilated fabric for bulk packaging of perishable agro-products like potatoes etc presented attractive option to expand application of FIBC/Big bags.
Lohia introduced spin-draw-wind line model lofil 80/8 HT for up to 80 kg/hour melt output. It was another star attraction at the stand. The machine was shown producing 3000 and 1000 denier intermingled yarn simultaneously on one side and 4 yarns of 1000 denier on the other side. With the LOFIL lines, bag producers or even yarn producers can produce tailor-made yarn in 600 to 4,800 denier ranges, in desired quantities and more suited to the specific needs of strength and aesthetics in their products. The compact
LOFIL series of spin-draw-wind lines are available in 20, 40 or 80 kg/hour capacities and also supports quick and easy changeover of denier, colour and other desired properties.
Lohia Starlinger Limited continues to build strength to forge deeper and longer relationship with its worldwide customers delivering advantages through innovative products and solutions. The company is encouraged at the response from the exhibition and is confident of receiving good business from existing as well as new customers in Indian and overseas markets.
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.61.75 |
|
|
1 |
Rs.99.56 |
|
Euro |
1 |
Rs.83.55 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
63 |
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.