MIRA INFORM REPORT
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Report Date : |
05.04.2014 |
IDENTIFICATION DETAILS
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Name : |
TECNIMONT ICB PRIVATE LIMITED |
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Registered
Office : |
Technimont ICB House, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
09.07.1958 |
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Com. Reg. No.: |
11-013544 |
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Capital
Investment / Paid-up Capital : |
Rs.13.968 Millions |
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CIN No.: [Company Identification
No.] |
U74140MH1958PTC013544 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMT08884B/ MUMT10392E |
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PAN No.: [Permanent Account No.] |
AAACI2628B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Provide
Services in Engineering Consultancy, Turnkey Projects, Instruments Erection,
Software Development and Allied Activities. |
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No. of Employees
: |
Information
declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 13500000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having satisfactory track record. There is a dip in profit of the company in the year 2013. However,
Liquidity position of the company is strong. Trade relations are reported to be fair. Business is active. Payments
are reported to be usually correct. The company can be considered normal 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.
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 |
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Restricted |
C2 |
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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 DENIED
Management Non Co-operative
Contact No.: 91-22-66945555
LOCATIONS
|
Registered/ Head Office : |
Technimont ICB House, |
|
Tel. No.: |
91-22-66945555 |
|
Fax No.: |
91-22-66945599 |
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E-Mail : |
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Website : |
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Branch Office : |
New Delhi – India Room No.201-202, Ashoka Hotel, 50/B, Chankya Puri, New
Delhi – 110021, India Tel/Fax :
91-11-24102337 e-mail : ticbdel@satyam.net.in Abu Dhabi - U.A.E. Electra Street, 202 Al Nowais
Building, 2nd Floor, Behind Dana Hotel, Post Box 51120, Abu Dhabi, U.A.E. Tel: + 971-2-6451228 Fax: + 971-2-6451252 e-mail : ticbabd@emirates.net.ae Kingdom of Saudi Arabia Al Imam Center, (Fuji Film Building),
Madina Road, P.O. Box 6895, Jeddah 21452, Kingdom of
Saudi Arabia Tel: + 966-2-6926475 Fax : +
966-2-6926143 e-mail : infoticb.saudi@ticb.com Doha – Qatar Tecnimont ICB Qatar W.L.L., P.O. Box
16852, Doha, State of Qatar Tel: +974 4665557 Fax :
+974 4650680 e-mail : b.venugopalan@ticb.com |
DIRECTORS
(AS ON 30.09.2003)
|
Name : |
Mr. Mario Ruzza |
|
Designation : |
Director |
|
Address : |
VI A Baldassara, 5 Cogliate, Milano 20020, |
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Date of Birth/Age : |
10.04.1954 |
|
Date of Appointment : |
30.09.2013 |
|
DIN No. : |
00256448 |
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|
|
Name : |
Mr. Gianni Bardazzi |
|
Designation : |
Director |
|
Address : |
VI A, Jacopo Nardi, 19, Firenze, Italy |
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Date of Birth/Age : |
31.01.1965 |
|
Date of Appointment : |
30.09.2013 |
|
DIN No. : |
03121568 |
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|
|
|
Name : |
Mr. Vishwas Dnyanu Desai |
|
Designation : |
Whole-time director |
|
Address : |
Flat No. 1702, Steppes, Building No. 7, Vasant Lawns, Pokharan Road
No.2, Thane (West), Thane – 400610, Maharashtra, India |
|
Date of Birth/Age : |
26.07.1957 |
|
Date of Appointment : |
30.09.2013 |
|
DIN No. : |
05318771 |
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|
|
Name : |
Mr. Thiyagarajan Bhupalasundaram |
|
Designation : |
Whole-time director |
|
Address : |
A-7, Niles HSG. Society, Plot No.22, Sector – 14, Vashi, Navi Mumbai –
400703, Maharashtra, India |
|
Date of Birth/Age : |
30.07.1964 |
|
Date of Appointment : |
30.09.2013 |
|
DIN No. : |
05319033 |
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|
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Name : |
Enrico Rolandelli |
|
Designation : |
Managing director |
|
Address : |
VI A, Fratelli Kennedy, Inverigo, Italy |
|
Date of Birth/Age : |
11.1.1963 |
|
Date of Appointment : |
30.09.2013 |
|
DIN No. : |
06584914 |
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|
|
|
Name : |
Mr. Pedaprolu Surya Prakasa Rao |
|
Designation : |
Whole-time director |
|
Address : |
B/72, Sarad Srishti CHS Limited, Sector – 3, Mira Ropad, (East), Thane
– 401107, Maharashtra, India |
|
Date of Birth/Age : |
14.06.1957 |
|
Date of Appointment : |
30.09.2013 |
|
DIN No. : |
06640219 |
KEY EXECUTIVES
|
Name : |
Mr. Parameswaran Parameswara Iyer Trikkur |
|
Designation : |
Company Secretary |
|
Address : |
A-3/302, Vikas Complex, Castle Mills, L B S Marg, Thane (East), Thane –
400601, |
|
Date of Appointment : |
05.12.1990 |
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PAN No.: |
AACPT3955B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2013)
|
Names of Shareholders |
|
No. of Shares |
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Tecnimont Planung Und Industrieanlagenbau GMBH |
|
1 |
|
Tecnimont S.P.A. |
|
1388669 |
|
|
|
|
|
Total |
|
1388670 |
(AS ON 30.09.2013)
|
Category |
|
Percentage |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
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|
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Provide
Services in Engineering Consultancy, Turnkey Projects, Instruments Erection,
Software Development and Allied Activities. |
GENERAL INFORMATION
|
Bankers : |
·
State Bank of Commercial Branch, G N Vaidya Marg, Mumbai – 400023, |
||||||||||||
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·
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Deloitte Haskins and sells Chartered Accountant |
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Address : |
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Tel. No.: |
91-22-66679000 |
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Fax No.: |
91-22-66679100 |
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PAN No.: |
AADFD2337G |
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Holding Company : |
· Tecnimont Spa |
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Joint ventures: |
Hazira Cryogenic Engineering and Construction
Management private Limited [U45201MH2001PTC134378]
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Fellow
Subsidiary company |
·
Sofregaz ·
TWS SA ·
KT- Kinetics Technology ·
Stamicarbon BV ·
Tecnimont Arabia Limited |
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|
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Subsidiaries : |
·
Engineering and Designs Tecnimont ICB Private
Limited U74210MH2003PTC142289 ·
Tecnimont ICB Qatar W.L.L. ·
TSJ Limited |
CAPITAL STRUCTURE
(AS ON 30.09.2003)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Share |
Rs.10/- each |
Rs.30.000 Millions |
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1388670 |
Equity Share |
Rs.10/- each |
Rs.13.887
Millions |
|
|
|
|
|
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 |
13.887 |
13.887 |
13.900 |
|
(b) Reserves & Surplus |
3,350.700 |
4,712.600 |
1,640.000 |
|
(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) |
3,364.587 |
4,726.487 |
1,653.900 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
35.200 |
43.600 |
25.000 |
|
(d) long-term provisions |
150.400 |
225.000 |
18.700 |
|
Total
Non-current Liabilities (3) |
185.600 |
268.600 |
43.700 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
272.000 |
0.000 |
0.000 |
|
(b) Trade payables |
2,848.613 |
2,041.313 |
1,502.000 |
|
(c) Other current liabilities |
1,101.600 |
1,188.500 |
124.300 |
|
(d) Short-term provisions |
8.100 |
625.500 |
162.500 |
|
Total
Current Liabilities (4) |
4,230.313 |
3,855.313 |
1,788.800 |
|
|
|
|
|
|
TOTAL |
7,780.500 |
8,850.400 |
3,486.400 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
441.100 |
514.500 |
374.500 |
|
(ii) Intangible Assets |
12.400 |
20.900 |
0.700 |
|
(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 |
1.100 |
1.200 |
|
(c) Deferred tax assets (net) |
37.100 |
24.200 |
(2.600) |
|
(d) Long-term Loan and Advances |
45.600 |
21.400 |
43.800 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
536.200 |
582.100 |
417.600 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
5,846.600 |
6,022.600 |
1,646.900 |
|
(d) Cash and cash equivalents |
548.600 |
1,209.200 |
480.900 |
|
(e) Short-term loans and
advances |
471.100 |
540.600 |
624.600 |
|
(f) Other current assets |
378.000 |
495.900 |
316.400 |
|
Total
Current Assets |
7,244.300 |
8,268.300 |
3,068.800 |
|
|
|
|
|
|
TOTAL |
7,780.500 |
8,850.400 |
3,486.400 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Employees Benefit |
|
|
|
|
|
|
Other Expenses |
|
|
|
|
|
|
TOTAL (B) |
|
|
|
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
|
|
|
|
|
NA |
NA |
NA |
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
|
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
437.300 |
1256.900 |
499.900 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
72.200 |
670.100 |
175.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
365.100 |
586.800 |
324.700 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
4143.600 |
4140.000 |
998.900 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
450.900 |
58.700 |
32.500 |
|
|
|
Interim Dividend paid |
1485.900 |
0.000 |
0.000 |
|
|
|
Tax on Dividend |
241.000 |
73.200 |
22.500 |
|
|
|
Final Dividend |
0.000 |
451.300 |
138.900 |
|
|
BALANCE CARRIED TO
THE B/S |
2330.900 |
4143.600 |
4140.000 |
|
|
|
|
|
|
|
|
|
|
Export Value |
5335.200 |
3308.200 |
NA |
|
|
|
|
|
|
|
|
|
|
Import Value |
8.400 |
8.100 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
262.91 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.22
|
14.24 |
14.33 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13
|
0.27 |
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.08
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.71
|
2.14 |
1.72 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
13.900 |
13.887 |
13.887 |
|
Reserves & Surplus |
1,640.000 |
4,712.600 |
3,350.700 |
|
Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1,653.900 |
4,726.487 |
3,364.587 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
272.000 |
|
Total
borrowings |
0.000 |
0.000 |
272.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.081 |
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 |
No |
|
12] |
Profitability
for last three years |
Yes |
|
13] |
Reasons
for variation <> 20% |
---- |
|
14] |
Estimation
for coming financial year |
|
|
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 |
Yes |
|
23] |
Banking
Details |
Yes |
|
24] |
Banking
facility details |
Yes |
|
25] |
Conduct
of the banking account |
---------------------- |
|
26] |
Buyer
visit details |
------- |
|
27] |
Financials,
if provided |
No |
|
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 |
BUSINESS
ENVIRONMENT AND OPERATING PERFORMANCE:
During the year, there
were no award of new turnkey projects. The Company continues to undertake
Electrical, Instrument and Mechanical construction projects and also provide
Services for the execution of projects of Maire Tecnimont Group, on a global
basis. The company is continuing to bid for new projects some of which are
expected to fructify in due course.
LITIGATION DETAILS
|
Case Details |
||||
|
Bench:- Bombay |
||||
|
Presentation Date : - 10.02.2014 |
||||
|
Lodging No:- |
ITXAL/327/2014 |
Failing Date:- |
10.02.2014 |
|
|
Petitioner:- |
THE COMMISSIONER OF INCOME TAX |
Respondent:- |
TECNIMONT ICB PRIVATE LIMITED |
|
|
Petn.Adv:- |
PADMA DIVAKAR |
|||
|
District:- |
MUMBAI |
|||
|
Bench:- |
DIVISION |
Category:- |
TAX APPEALS |
|
|
Status:- |
Pre-Admission |
Stage:- |
|
|
|
Last Date:- |
17.02.2014 |
|||
|
Last Coram:- |
REGISTRAR (OS)/ PROTHONOTARY AND SR. MASTER |
|||
|
Act:- |
INCOME TAX ACT 1961 |
Under Section:- 260A |
||
MERGER OF MAIRE ENGINEERING INDIA PRIVATE LIMITED (MEI)
WITH TECNIMONT ICB PVT. LTD. (TICB)
The Board of
Directors of the Company on 29 October 2012approved a Scheme of Arrangement of
Maire Engineering India Private Limited (a wholly owned subsidiary of Tecnimont
SpA) with Tecnimont ICB Private Limited and their respective shareholders and
creditors under Sections 391 to 394 of the Companies Act, 1956 with effect from
1 April 2012. The Scheme is subject to sanction of the Bombay High Court which
is under progress. Accordingly therefore, the accounting treatment laid out in
the scheme and consequential adjustments that would arise will be dealt with by
the Company in the financial statements, once the scheme is approved and
implemented.
BUSINESS ENVIRONMENT AND OPERATING PERFORMANCES
During the year,
there were no award of new turnkey projects. The Company continues to undertake
Electrical, Instrument and Mechanical construction projects and also provide
Services for the execution of projects of Maire Tecnimont Group, on a global
basis. The company is continuing to bid for new projects some of which are
expected to fructify in due course.
FIXED
ASSETS:
·
· Building
· Computers
· Furniture and Fixtures
· Office Equipment
· Motor cars
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 : |
HTL |
|
` |
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
SNT |
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 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
47 |
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.