MIRA INFORM REPORT
|
Report Date : |
01.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
CONNELL BROS COMPANY (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1st Floor, Hamilton House, 8, J.N. Heredia Marg, Ballard
Estate, Mumbai – 400038, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.12.2011 |
|
|
|
|
Date of
Incorporation : |
18.05.1999 |
|
|
|
|
Com. Reg. No.: |
11-119904 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.53.900 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110MH1999PTC119904 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC07445E MUMC10633A MUMC11797C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACC9611L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader and Distributor of Chemicals, Food
Ingredient, etc. |
|
|
|
|
No. of Employees
: |
110 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1520000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of “WILBUR ELLIS CO., United States”. It is an
established company having satisfactory track record. Management has filed the latest financials of 2012, but the same could
not be made available from the government department. As per available, the company possesses a favourable financial profile
marked by decent networth base and an improvement in its net profitability
during 2011. The rating also take into consideration the limited value adding
nature of the operations. However, trade relations are fair. Business is active. Payment terms
are reported as usually correct. In view of strong holdings, the subject can be considered for business
dealings at usual trade terms 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.
INDIAN ECONOMIC OVERVIEW
India’s current account deficit for the fiscal third quarter ended
September 2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product
from $31.9 billion or 6.5 % of GDP a year earlier, thanks to a pick-up in
exports and moderation in gold imports. Manufacturing activity and new orders
in India showed their strongest growth in a year in February. The news comes as
a relief after data showed Asia’s third largest economy grew by a
slower-than-expected 4.7 % annually in the three months through December. The
HSBC Manufacturing Purchasing Managers’ Index which gauges the business
activity of India’s factories but not its’ utilities, rose to 52.5 in February,
its highest in a year from 51.4 in January. Overall new orders for factory
goods which rose to a one-year high of 54.9 contributed to the surge. China has
emerged as India’s biggest trading partner in the current financial year
replacing the United Arab Emirates and pushing it to the third spot.
India-China trade has reached $49.5 billion with a 8.7 % share in India’s total
trade. The US comes second at $46 billion with 8.1 % share during the first
nine months of the current financial year.
The Reserve Bank of India has granted an additional nine months to the
public to exchange currency notes printed before 2005 including Rs 500 and Rs
1,000 denominations, pushing the deadline to January 1, 2015. A day before
dates for the Lok Sabha polls were announced, the government decided to hike
interest rates on fixed deposit schemes offered by post offices up to 0.2 per
cent. The new rates will be effective April, 1. The Supreme Court will resume
hearing on March, 11 Nokia’s appeal against a ruling over transferring
ownership of its local mobile phones plant which is the subject of a tax
dispute to Microsoft Corp.
In the last days of the current Government, another scam has surfaced.
The defence ministry has ordered a probe into Hindustan Aeronautics Limited’s
contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The
Central Bureau of Investigation will look into allegations that over $80 million
was paid in kickbacks in a deal signed in 2011. India has asked Boeing
Co. to find a solution for problems with state-owned Air India’s 787
Dreamliners. The aircraft has experienced a series of malfunctions since its
debut in 2011.
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 (GENERAL DETAILS)
|
Name : |
Mr. B Fernandez |
|
Designation : |
Export Manager |
|
Contact No.: |
91-22-66138324 |
|
Date : |
28.03.2014 |
LOCATIONS
|
Registered/ Corporate Office : |
1st Floor, Hamilton House, 8, J.N. Heredia Marg, Ballard
Estate, Mumbai – 400038, Maharashtra, India |
|
Tel. No.: |
91-22-22815060/ 66644483/ 66138300 |
|
Mobile No.: |
91-9820199553 (Ms. Yogita Parab) |
|
Fax No.: |
91-22-22818060/ 33818330 |
|
E-Mail : |
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|
Website : |
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|
Area : |
1600 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Warehouse: |
Located at: ·
Bhiwandi ·
Panvel ·
Delhi |
|
|
|
|
Branch Office 1 : |
3rd Floor, Bansilal Building, 9/15, Homy Mody Street, Fort,
Mumbai - 400023, Maharashtra, India |
|
Tel. No.: |
91-22-22815060 |
|
Fax No.: |
91-22-22818060 |
|
E-Mail : |
|
|
Area: |
3500 sq. ft. |
|
Location : |
Rented |
|
|
|
|
Branch Office 2 : |
1112, Kailash Building, 26, Kasturba Gandhi Marg, New Delhi - 110001,
India |
|
Tel. No.: |
91-11-23713691 |
|
Fax No.: |
91-11-23713692 |
|
Area: |
1200 sq. ft. |
|
Location : |
Rented |
|
|
|
|
Branch Office 3 : |
3607, Competent House, Middle Circle, Connaught Place, New Delhi –
110001, India |
|
Tel. No.: |
91-11-43509348 |
|
Fax No.: |
91-11-43509340 |
|
|
|
|
Overseas Office: |
15 Kamal Ataturk Avenue, Bashati Condominium, Apartment # C/11-12,
Road # 17, Banani, Dhaka - 1213 |
|
Tel. No.: |
88 044 746 50728 |
|
Fax No.: |
88 044 768 02517 |
|
Area: |
500 sq. ft. |
|
Location : |
Rented |
DIRECTORS
As on 28.05.2013
|
Name : |
Mr. Parthiv Tanil Kilachand |
|
Designation : |
Director |
|
Address : |
95, Nepean Sea Road, Malabar Hill, Mumbai – 400006, Maharashtra, India
|
|
Date of Birth/Age : |
27.03.1967 |
|
Date of Appointment : |
18.05.1999 |
|
DIN No.: |
00005516 |
|
|
|
|
Name : |
Mr. Yogesh Shivraj Mathur |
|
Designation : |
Whole-Time Director |
|
Address : |
13- Padam-1, 4B, Peddar Road, Mumbai – 400026, Maharashtra, India |
|
Date of Birth/Age : |
22.11.1950 |
|
Date of Appointment : |
10.05.2011 |
|
PAN No.: |
AACPM2435M |
|
DIN No.: |
01059977 |
|
|
|
|
Name : |
Mr. Nandish Tanil Kilachand |
|
Designation : |
Director |
|
Address : |
95, Nepean Sea Road, Malabar Hill, Kilachand House, Mumbai – 400006,
Maharashtra, India |
|
Date of Birth/Age : |
23.07.1972 |
|
Date of Appointment : |
18.05.1999 |
|
DIN No.: |
00005530 |
|
|
|
|
Name : |
Theodore Eliot III |
|
Designation : |
Managing Director |
|
Address : |
401, Golden GateAvenue, Belvedere, California 94920, United States of
America |
|
Date of Birth/Age : |
17.10.1953 |
|
Date of Appointment : |
18.05.1999 |
|
DIN No.: |
02231188 |
|
|
|
|
Name : |
Mr. John Pomeroy Thacher |
|
Designation : |
Director |
|
Address : |
2482/ Spring Mountain Road, St. Helena, California 94574, United
States of America |
|
Date of Birth/Age : |
01.10.1954 |
|
Date of Appointment : |
11.02.2008 |
|
DIN No.: |
02353500 |
|
|
|
|
Name : |
Jeffrey Francis Streblow |
|
Designation : |
Director |
|
Address : |
5137, Coombsville Road, NAPA, California 94558, United States of
America |
|
Date of Birth/Age : |
04.06.1959 |
|
Date of Appointment : |
17.05.2009 |
|
DIN No.: |
02682288 |
|
|
|
|
Name : |
Eugene Scott James Allan Graddy |
|
Designation : |
Director |
|
Address : |
11, Ardmore PK, #13-01, Ardmore PK, Singapore – 259957 |
|
Date of Birth/Age : |
23.05.1961 |
|
Date of Appointment : |
10.05.2011 |
|
DIN No.: |
03583392 |
KEY EXECUTIVES
|
Name : |
Mr. B Fernandez |
|
Designation : |
Export Manager |
|
|
|
|
Name : |
Mr. Milan Pathare |
|
Designation : |
Chief Executive Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.05.2013
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Rasayani Traders Private Limited, India |
269500 |
50.00 |
|
Wilbur Ellis Company, USA |
269500 |
50.00 |
|
Total |
539000 |
100.00 |
%20PRIVATE%20LIMITED%20-%20260771_MIRA%2001-Apr-2014_files/image013.gif)
As on 28.05.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
50.00 |
|
Bodies corporate |
50.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Distributor of Chemicals, Food
Ingredient, etc. |
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Products : |
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Exports : |
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Products : |
Chemicals, Food Ingredient, etc. |
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Countries : |
· USA · Pakistan · Bangladesh |
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Imports : |
|
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Products : |
Chemicals, Food Ingredient, etc. |
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|
Countries : |
· USA · European Countries |
GENERAL INFORMATION
|
No. of Employees : |
110 (Approximately) |
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|
|
||||||||||||
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Bankers : |
· ABN Amro Bank N.V., 7th Floor, Sakhar Bhavan, Nariman Road, Mumbai – 400021, Maharashtra, India ·
Royal Bank of Scotland, Fort, Mumbai,
Maharashtra, India ·
ABN Amro Bank N.V., 14, Veer airman Road,
Mumbai – 400023, Maharashtra, India |
||||||||||||
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|
|
||||||||||||
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Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Lovelock and Lewes Chartered Accountants |
|
Address : |
252, Veer Savarkar Marg, Shivaji Park, Dadar, Mumbai – 400028,
Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AABFL5878L |
|
|
|
|
Ultimate Holding
company: |
Wilbur Ellis Co. |
|
|
|
|
Subsidiary : |
Connell Bros Company Bangladesh (Private) Limited |
|
|
|
|
Fellow Subsidiary
Company: |
· Connell Bros. Co. Limited · Connell Bros. Co. Philipinas Inc. · Connell Bros Co. (Singapore) PTE Limited · Connell Bros. Co. (Shanghai) Co. Limited · PT. Connell Bersaudara Chemindo · Connell Bros. Co. |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are
partners with Key management personnel and their relatives |
Ginners and Pressers Limited CIN No.: U17110MH1950PLC007979 Polychem Limited CIN No.: L24100MH1955PLC009663 Ramal Charities |
CAPITAL STRUCTURE
As on 28.05.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
800000 |
Equity Shares |
Rs.100/- each |
Rs.80.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
539000 |
Equity Shares |
Rs.100/- each |
Rs.53.900 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
53.900 |
53.900 |
53.900 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
326.774 |
189.902 |
134.392 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
380.674 |
243.802 |
188.292 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
63.000 |
45.000 |
21.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
63.000 |
45.000 |
21.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
443.674 |
288.802 |
209.292 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
43.501 |
43.575 |
42.703 |
|
|
Capital work-in-progress |
0.498 |
0.284 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.700 |
0.700 |
0.700 |
|
|
DEFERREX TAX ASSETS |
11.308 |
5.969 |
6.245 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
229.003
|
212.954
|
127.624
|
|
|
Sundry Debtors |
255.278
|
220.002
|
176.928
|
|
|
Cash & Bank Balances |
56.997
|
98.338
|
78.244
|
|
|
Other Current Assets |
0.904
|
0.968
|
1.075
|
|
|
Loans & Advances |
197.692
|
118.635
|
16.692
|
|
Total
Current Assets |
739.874
|
650.897
|
400.563
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.000
|
0.000
|
147.170 |
|
|
Current Liabilities |
182.707 |
243.788 |
23.752
|
|
|
Provisions |
169.500
|
168.835
|
69.997
|
|
Total
Current Liabilities |
352.207
|
412.623
|
240.919
|
|
|
Net Current Assets |
387.667
|
238.274
|
159.644
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
443.674 |
288.802 |
209.292 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1485.040 |
1278.390 |
1014.570 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL (A) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
215.260 |
196.620 |
145.670 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST (D) |
7.480 |
2.630 |
6.550 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
207.780 |
193.990 |
139.120 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
6.050 |
6.340 |
6.330 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
201.730 |
187.650 |
132.790 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
64.860 |
62.610 |
46.090 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
136.870 |
125.040 |
86.700 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
144.600 |
101.690 |
93.680 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend on Equity Shares |
0.000 |
59.820 |
59.820 |
|
|
|
Tax on Dividend on Equity Shares |
0.000 |
9.710 |
10.170 |
|
|
|
Transfer to General Reserve |
0.000 |
12.600 |
8.700 |
|
|
BALANCE CARRIED
TO THE B/S |
281.470 |
144.600 |
101.690 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
776.020 |
107.020 |
75.690 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
253.93 |
231.99 |
160.86 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
Net Profit Margin (PBT/Sales) |
(%) |
13.58
|
14.68
|
13.09 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
25.75
|
31.53 |
29.96 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.53
|
0.77 |
0.70 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.17
|
0.18 |
0.11 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.10
|
1.58 |
1.66 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.12.2009 |
31.12.2010 |
31.12.2011 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
53.900 |
53.900 |
53.900 |
|
Reserves & Surplus |
134.392 |
189.902 |
326.774 |
|
Net
worth |
188.292 |
243.802 |
380.674 |
|
|
|
|
|
|
Secured Loans |
21.000 |
45.000 |
63.000 |
|
Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
21.000 |
45.000 |
63.000 |
|
Debt/Equity
ratio |
0.112 |
0.185 |
0.165 |
%20PRIVATE%20LIMITED%20-%20260771_MIRA%2001-Apr-2014_files/image015.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2009 |
31.12.2010 |
31.12.2011 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1014.570 |
1278.390 |
1485.040 |
|
|
|
26.003 |
16.165 |
%20PRIVATE%20LIMITED%20-%20260771_MIRA%2001-Apr-2014_files/image017.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2009 |
31.12.2010 |
31.12.2011 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1014.570 |
1278.390 |
1485.040 |
|
Profit |
86.700 |
125.040 |
136.870 |
|
|
8.55% |
9.78% |
9.22% |
%20PRIVATE%20LIMITED%20-%20260771_MIRA%2001-Apr-2014_files/image019.gif)
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 |
Yes |
|
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
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 |
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 |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
CURRENT MATURITIES OF
LONG TERM DEBTS: NOT AVAILABLE
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10029028 |
29/10/2008 * |
150,000,000.00 |
ABN AMRO BANK N. V. |
7TH FLOOR, SAKHAR BHAVAN, NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA, INDIA |
A49438963 |
* Date of charge modification
FIXED ASSETS
v
Tangible
Assets
·
Leasehold Improvements
·
Plant and Machinery
·
Laboratory Equipments
·
Office Equipments
·
Furniture and Fixtures
·
Computers
·
Vehicles
v
Intangible
Assets
·
Software
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 records 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.60.10 |
|
|
1 |
Rs.99.85 |
|
Euro |
1 |
Rs.82.58 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
46 |
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.