MIRA INFORM REPORT
|
Report Date : |
05.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
TAHIRA LIFESTYLE PRIVATE LIMITED (w.e.f. 23.02.2010) |
|
|
|
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Formerly Known
As : |
BALAJI IMMITATION JEWELLERY PRIVATE LIMITED |
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Registered
Office : |
A-12, Priti Apartments, Daftary Road, 199, Khandwala Lane, Opposite
Fatimadevi School, Malad (East), Mumbai – 400 097, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of Incorporation
: |
13.03.2009 |
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Com. Reg. No.: |
11- 190899 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
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CIN No.: [Company Identification
No.] |
U36911MH2009PTC190899 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
MUMB19302D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trading of gems and diamond studded gold jewellery, cut and polished
diamonds and gold. |
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|
No. of Employees
: |
7 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (12) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. Management has reported some accumulated losses, which has further
eroded its networth during 2013. However, business is active. Payment terms are reported as slow. The company can be considered for business dealings on a fully safe
and secured 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.
ECGC Country Risk Classification List – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
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
|
Name : |
Ms. Chetna |
|
Designation : |
Accounts Manager |
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Contact No.: |
91-22-61448989 |
|
Date : |
18.03.2014 |
LOCATIONS
|
Registered Office : |
A-12, Priti Apartments, Daftary Road, 199, Khandwala Lane, Opposite Fatimadevi
School, Malad (East), Mumbai – 400 097, Maharashtra, India |
|
Tel. No.: |
91-22-61448989 |
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Mobile No.: |
91-8976007004 (Mr. Pramod /
Jitendra) |
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Fax No.: |
91-22-61448979 |
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E-Mail : |
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Website : |
DIRECTORS
AS ON 26.09.2013
|
Name : |
Mr. Vipin Janardhan Sankhe |
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Designation : |
Director |
|
Address : |
149 RSC / III Park Street, SVP Nagar, Andheri (West), Mumbai – 400053,
Maharashtra, India |
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Date of Birth/Age : |
27.04.1971 |
|
Date of Appointment : |
01.02.2010 |
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DIN No.: |
02307714 |
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|
|
|
Name : |
Mr. Balakrishnan Vyasa Rao |
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Designation : |
Director |
|
Address : |
A-208, Upendra Apartments, Sai Nagar, Navghar Vasai, Taluka- Vasai,
District-Thane, Thane – 401 202, Maharashtra, India |
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Date of Birth/Age : |
08.06.1972 |
|
Date of Appointment : |
01.06.2012 |
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DIN No.: |
02682999 |
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|
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Name : |
Mr. Padmanabh Madhukar Vaidya |
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Designation : |
Director |
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Address : |
983/2 Saras Nagar Society, B/6, Pune – 411002, Maharashtra, India |
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Date of Birth/Age : |
23.04.1967 |
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Date of Appointment : |
20.04.2011 |
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DIN No.: |
03039523 |
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|
|
|
Name : |
Mr. Ashwin Raghavendra Umarji |
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Designation : |
Director |
|
Address : |
I-701, Prakriti, Baner – Balewadi Road, Pune – 411045, Maharashtra,
India |
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Date of Birth/Age : |
29.06.1974 |
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Date of Appointment : |
20.04.2011 |
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DIN No.: |
03398433 |
KEY EXECUTIVES
|
Name : |
Ms. Chetna |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS
AS ON 26.09.2013
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Sahel Rajendra Shah |
7500 |
75.00 |
|
Vipin Janardhan Sankhe |
2500 |
25.00 |
|
Total |
10000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading of gems and diamond studded gold jewellery, cut and polished
diamonds and gold. |
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Terms : |
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Purchasing : |
Depend |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users
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No. of Employees : |
7 (Approximately) |
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Bankers : |
Union Bank of India |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Bharat Desai and Company Chartered Accountants |
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Address : |
Pitru-Chhaya, 21, Swastik Society, N. S. Road No.2, Juhu Dev.Scheme,
Vile-Parle (West), Mumbai – 400 056, Maharashtra, India |
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Tel. No.: |
91-22-26147068 / 26193565 |
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Mobile No.: |
91-9821055064 |
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E-Mail : |
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PAN No.: |
AAEFB2439E |
CAPITAL STRUCTURE
AS ON 26.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
0.100 |
0.100 |
0.100 |
|
(b) Reserves & Surplus |
(4.244) |
(7.950) |
(7.077) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
(4.144) |
(7.850) |
(6.977) |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
4.064 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.121 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
0.000 |
0.000 |
4.185 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
111.504 |
237.782 |
1.455 |
|
(b) Trade
payables |
205.778 |
93.260 |
14.702 |
|
(c) Other
current liabilities |
0.864 |
3.016 |
3.006 |
|
(d) Short-term
provisions |
0.214 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
318.360 |
334.058 |
19.163 |
|
|
|
|
|
|
TOTAL |
314.216 |
326.208 |
16.371 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
0.984 |
1.316 |
1.809 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
278.400 |
0.000 |
|
(c) Deferred tax assets (net) |
1.661 |
0.348 |
0.000 |
|
(d) Long-term Loan and Advances |
0.215 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
0.168 |
0.251 |
1.786 |
|
Total Non-Current
Assets |
3.028 |
280.315 |
3.595 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
1.747 |
12.741 |
|
(c) Trade receivables |
0.024 |
22.072 |
0.000 |
|
(d) Cash
and cash equivalents |
1.609 |
0.454 |
0.028 |
|
(e)
Short-term loans and advances |
309.415 |
21.615 |
0.000 |
|
(f) Other
current assets |
0.140 |
0.005 |
0.007 |
|
Total
Current Assets |
311.188 |
45.893 |
12.776 |
|
|
|
|
|
|
TOTAL |
314.216 |
326.208 |
16.371 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Total Turnover |
341.779 |
342.329 |
|
|
|
|
Other Income |
0.004 |
0.101 |
|
|
|
|
Total Income |
341.783 |
342.430 |
6.282 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
339.389 |
343.907 |
13.480 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
2.394 |
(1.477) |
(7.198) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.085 |
(0.349) |
(0.121) |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
2.309 |
(1.128) |
(7.077) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PBT/Sales) |
(%) |
0.70 |
(0.43) |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.77 |
(3.11) |
(43.97) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.58) |
0.19 |
1.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
(26.91) |
(30.29) |
(0.79) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.98 |
0.14 |
0.67 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
0.100 |
0.100 |
0.100 |
|
Reserves & Surplus |
(7.077) |
(7.950) |
(4.244) |
|
Net
worth |
(6.977) |
(7.850) |
(4.144) |
|
|
|
|
|
|
long-term borrowings |
4.064 |
0.000 |
0.000 |
|
Short term borrowings |
1.455 |
237.782 |
111.504 |
|
Total
borrowings |
5.519 |
237.782 |
111.504 |
|
Debt/Equity
ratio |
(0.791) |
(30.291) |
(26.907) |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Total Income |
6.282 |
342.430 |
341.783 |
|
|
|
5,350.971 |
(0.189) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Total Income |
6.282 |
342.430 |
341.783 |
|
Profit |
(7.077) |
(1.128) |
2.309 |
|
|
(112.66%) |
(0.33%) |
0.68% |
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 |
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 |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
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 |
No |
|
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 |
NOTE: Registered office address of the company has been shifted from 203, Dhantak
Plaza, Makwana Road, Marol, Andheri (East), Mumbai – 400 059, Maharashtra,
India to the present address w.e.f. 04.12.2013
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Short Term Borrowings |
|
|
|
Loans
and Advances from related parties |
|
|
|
Loans from Directors |
|
|
|
Vipin Janardhan
Sankhe |
2.479 |
1.620 |
|
Ashwin Umarji |
0.650 |
0.650 |
|
Loans from Group Companies |
|
|
|
P and S
Jewelleray Private Limited |
0.000 |
2.548 |
|
P and S Shringar
Private Limited |
0.000 |
2.089 |
|
Loans from other Related Parties |
|
|
|
Vijaya Vipin
Sankhe |
0.675 |
0.675 |
|
Loans and Advances from Others |
|
|
|
HDK International
Private Limited |
106.800 |
132.800 |
|
Opulent Lewels Private
Limited |
0.000 |
59.000 |
|
Padmanabh Vaidya |
0.900 |
0.900 |
|
Vishal Overseas |
0.000 |
37.500 |
|
|
|
|
|
Total |
111.504 |
237.782 |
NO CHARGES EXIST
FOR COMPANY.
DIAMOND INDUSTRY – INDIA
-
From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of
diamonds but history says that in the remote past, diamonds were mined only in
India. Diamond production in India can be traced back to almost 8th
Century B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
-
The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
-
Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
-
Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
-
Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
-
Excerpts from Times of India dated 30th
October 2010 is as under –
-
Gem & Jewellery Export Promotion Council in its
statistical data has shown the export of polished diamonds to have increase by
28 % in February 2013. Compared to $ 1.4 bn worth of polished diamond export in
February, 2012, India exported $ 1.84 billion worth of polished diamonds in
February 2013. A senior executive of GJEPC said, “Export of cut and polished
diamonds started falling month-wise after the imposition of 2 % of import duty
on the polished diamonds. But February, 2013 has given a new ray of hope to the
industry as the export of polished diamonds has actually increased by 28 %. It
means the industry is on the track of recovery and round tripping of
diamonds has stopped completely.” Demand has started coming from the US, the
UK, Japan and China. India’s polished diamond export is expected to cross $ 21
bn in 2013-14.
-
The banking sector has started exercising restraint
while following prudent risk management norms when lending money to gems and
jewellery sector. This follows the implementation of Basel III accord – a
global voluntary regulatory standard on bank capital adequacy, stress testing
and market liquidity.
FIXED ASSETS:
·
Computers
·
Office Equipments
·
Printer
·
Furniture and Fixture
·
Air Conditioner
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.60.32 |
|
|
1 |
Rs.100.04 |
|
Euro |
1 |
Rs.82.65 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
1 |
|
OPERATING SCALE |
1~10 |
1 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
12 |
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.