MIRA INFORM REPORT
|
Report Date : |
07.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
INSIGHT BUSINESS MACHINES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
B-210, Raj Ratan Industrial Estate, Beside American Springs, Works Malad
(West), Mumbai – 400064, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
11.01.1996 |
|
|
|
|
Com. Reg. No.: |
11-096148 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2.466 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U30000MH1996PTC096148 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader of computer and computer peripherals they also provide networking
solutions. |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 150000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Latest financials of 2013 could not be made available from government
department. Mr. Aafaque Shaid, Senior Accounts Executive provided general
information and also informed that company has achieved turnover of
Rs.510.000 Millions in the year 2012-13, which is not verified. As per financials of 2012, there is a dip in sales and profit of the
company. However, overall financial position of the company is decent. Trade relations are reported to be fair. Business is active. Payments
are reported to be slow but correct. The company can be considered for business dealing 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 |
|
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
SME2 |
|
Rating |
SME 2 |
|
Rating Explanation |
High credit quality. |
|
Date |
25.07.2013 |
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 : |
Mr. Aafaque Shaid |
|
Designation : |
Senior Accounts Executive |
|
Contact No.: |
91-9022170981 |
|
Date : |
04.04.2014 |
LOCATIONS
|
Registered Office : |
B-210, Raj Ratan Industrial Estate, Beside American Springs, Works Malad
(West), Mumbai – 400064, Maharashtra, India |
|
Tel. No.: |
91-22-67262100 |
|
Mobile No.: |
91-9022170981 |
|
Fax No.: |
91-22-28808034 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
4000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Warehouse : |
·
Bhiwandi ·
Panvel |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Piyush V. Vibhakar |
|
Designation : |
Director |
|
Address : |
A/4, Ajit Nagar, Swami Vivekananda Road, Malad (West), Mumbai –
400064, Maharashtra, India |
|
Date of Birth/Age : |
13.08.1972 |
|
Date of Appointment : |
11.01.1996 |
|
DIN No.: |
00864719 |
|
|
|
|
Name : |
Mr. Neel S. Shah |
|
Designation : |
Director |
|
Address : |
Satyam, Flat No.5, Evershine Nagar, Malad (West), Mumbai – 400064,
Maharashtra, India |
|
Date of Birth/Age : |
09.12.1969 |
|
Date of Appointment : |
11.01.1996 |
|
DIN No.: |
00870661 |
KEY EXECUTIVES
|
Name : |
Mr. Aafaque Shaid |
|
Designation : |
Senior Accounts Executive |
MAJOR SHAREHOLDERS
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Neel Shashikant Shah |
47645 |
19.32 |
|
Piyush Vipin Vibhakar |
55685 |
22.58 |
|
Neel S. Shah (HUF) |
56000 |
22.71 |
|
Piyush V Vibhakar (HUF) |
52000 |
21.08 |
|
Amisha Neel Shah |
18900 |
7.66 |
|
Kajal Piyush Vibhakar |
16400 |
6.65 |
|
Total |
246630 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of computer and computer peripherals they also provide
networking solutions. |
|
|
|
|
Agencies Held : |
·
IBM ·
HP ·
Lenovo ·
Microsoft |
|
|
|
|
Imports : |
|
|
Products : |
·
Computer Peripherals ·
Networking Solutions |
|
Countries : |
·
Singapore ·
USA |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
Ingram Micro India Limited |
|||||||||||||||
|
|
|
|||||||||||||||
|
Customers : |
Wholesalers, Retailers, End Users Reliance Infrastructure Limited |
|||||||||||||||
|
|
|
|||||||||||||||
|
No. of Employees : |
150 (Approximately) |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
·
Development Credit Bank Limited, 601 and 602,
Peninsula Business Park, 6th Floor, Tower A, Senapati Bapat Marg,
Lower Parel, Mumbai – 400013, Maharashtra, India ·
Development Credit Bank Limited, 301, Delta
Plaza, 414, Veer Savarkar Marg, Prabhadevi, Mumbai – 400025, Maharashtra,
India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
Cash Credit Rs.35.000 Millions |
|||||||||||||||
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|
|||||||||||||||
|
|
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Shah Gohil and Associates Chartered Accountants |
|
Address : |
159/4, Smruti, Jawahar Nagar Road No.2, Goregaon (West), Mumbai –
400062, Maharashtra, India |
|
PAN No.: |
ABWFS6454M |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
246630 |
Equity Shares |
Rs.10/- each |
Rs.2.466 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
2.466 |
2.466 |
|
(b) Reserves & Surplus |
|
35.222 |
30.245 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
37.688 |
32.711 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
5.542 |
8.324 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
1.586 |
1.033 |
|
Total Non-current
Liabilities (3) |
|
7.128 |
9.357 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
0.000 |
0.000 |
|
(b) Trade
payables |
|
78.764 |
56.099 |
|
(c) Other
current liabilities |
|
17.287 |
33.063 |
|
(d) Short-term
provisions |
|
0.881 |
0.771 |
|
Total Current
Liabilities (4) |
|
96.932 |
89.933 |
|
|
|
|
|
|
TOTAL |
|
141.748 |
132.001 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
17.960 |
3.521 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
1.683 |
13.056 |
|
(iv)
Intangible assets under development |
|
0.610 |
0.000 |
|
(b) Non-current Investments |
|
0.180 |
0.181 |
|
(c) Deferred tax assets (net) |
|
0.249 |
0.824 |
|
(d) Long-term Loan and Advances |
|
8.130 |
3.900 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
28.812 |
21.482 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
15.617 |
20.013 |
|
(c) Trade
receivables |
|
90.309 |
76.074 |
|
(d) Cash
and cash equivalents |
|
3.966 |
10.301 |
|
(e)
Short-term loans and advances |
|
2.934 |
2.817 |
|
(f) Other
current assets |
|
0.110 |
1.314 |
|
Total
Current Assets |
|
112.936 |
110.519 |
|
|
|
|
|
|
TOTAL |
|
141.748 |
132.001 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
2.466 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
23.928 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
26.394 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
15.785 |
|
|
2] Unsecured Loans |
|
|
0.906 |
|
|
TOTAL BORROWING |
|
|
16.691 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
43.085 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
4.312 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.181 |
|
|
DEFERRED TAX ASSETS |
|
|
0.404 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
16.318 |
|
|
Sundry Debtors |
|
|
66.161 |
|
|
Cash & Bank Balances |
|
|
8.433 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
8.746 |
|
Total
Current Assets |
|
|
99.658 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
0.000 |
|
|
Other Current Liabilities |
|
|
49.349 |
|
|
Provisions |
|
|
12.121 |
|
Total
Current Liabilities |
|
|
61.470 |
|
|
Net Current Assets |
|
|
38.188 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
43.085 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
385.007 |
479.176 |
|
|
|
|
Other Income |
0.132 |
0.231 |
|
|
|
|
TOTAL
(A) |
385.139 |
479.407 |
460.849 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Operating Cost |
373.786 |
468.785 |
449.550 |
|
|
|
TOTAL (B) |
373.786 |
468.785 |
449.550 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
11.353 |
10.622 |
11.299 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.553 |
1.038 |
0.760 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
9.800 |
9.584 |
10.539 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
1.410 |
0.855 |
1.091 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
8.390 |
8.729 |
9.448 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
3.407 |
2.412 |
3.342 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
4.983 |
6.317 |
6.106 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
20.21 |
25.62 |
25.96 |
|
|
|
|
|
|
|
|
|
|
C.P.S. Rs. |
25.92 |
29.08 |
30.60 |
|
Expected Sales (2013-2014): Rs.700.000 Millions
The above information has been parted by Mr. Aafaque Shaid (Senior
Accounts Executive)
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.29 |
1.32 |
1.32 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.18 |
1.82 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.03 |
7.40 |
9.13 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22 |
0.27 |
0.36 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.15 |
0.25 |
0.63 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.17 |
1.23 |
1.62 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
|
|
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
2.466 |
2.466 |
|
Reserves & Surplus |
30.245 |
35.222 |
|
Net
worth |
32.711 |
37.688 |
|
|
|
|
|
long-term borrowings |
8.324 |
5.542 |
|
Short term borrowings |
0.000 |
0.000 |
|
Total
borrowings |
8.324 |
5.542 |
|
Debt/Equity
ratio |
0.254 |
0.147 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Total Income |
460.849 |
479.407 |
385.139 |
|
|
|
4.027 |
(19.663) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Total
income |
460.849 |
479.407 |
385.139 |
|
Profit |
6.106 |
6.317 |
4.983 |
|
|
1.32% |
1.32% |
1.29% |
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 |
Yes |
|
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) |
Yes |
|
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 |
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 |
Yes |
LITIGATION DETAILS:
|
HIGH
COURT OF BOMBAY
|
UNSECURED LOANS:
|
Particulars |
31.03.2012 Rs. In Millions |
31.03.2011 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Loans and
Advances from related parties |
0.989 |
0.955 |
|
Other Loans and
Advances |
0.025 |
0.030 |
|
|
|
|
|
Total |
1.014 |
0.985 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10436584 |
03/07/2013 |
27,179,000.00 |
DEVELOPMENT
CREDIT BANK LIMITED |
601
& 602, PENINSULA BUSINESS PARK, 6TH FLOOR,, TOWER A, SENAPATI BAPAT MARG,
LOWER PAREL,, MUMBAI, MAHARASHTRA - 400013, INDIA |
B79508180 |
|
2 |
10229143 |
14/06/2010 |
10,000,000.00 |
DEVELOPMENT
CREDIT BANK LIMITED |
301, DELTA
PLAZA, 414, VEER SAVARKAR MARG, PRABHADEVI,, MUMBAI, MAHARASHTRA - 400025,
INDIA |
A89268270 |
|
3 |
10067980 |
12/12/2012
* |
51,500,000.00 |
DEVELOPMENT
CREDIT BANK LIMITED |
601
& 602, PENINSULA BUSINESS PARK, 6TH FLOOR,, TOWER A, SENAPATI BAPAT MARG,
LOWER PAREL,, MUMBAI, |
B64725914 |
|
4 |
90141252 |
20/03/2004
* |
1,000,000.00 |
DEVELOPMENT
CREDIT BANK LIMITED |
MALAD
BRANCH, MUMBAI, MAHARASHTRA - 400064, INDIA |
- |
|
5 |
90146615 |
20/03/2004 |
1,000,000.00 |
DEVELOPMENT
CREDIT BANK LIMITED |
MALAD
BRANCH, MUMBAI, MAHARASHTRA - 400064, INDIA |
- |
|
6 |
90144362 |
20/03/2004
* |
1,000,000.00 |
DEVELOPMENT
CREDIT BANK LIMITED |
MALAD
BRANCH, MUMBAI, MAHARASHTRA - 400064, INDIA |
- |
* Date of charge modification
FIXED ASSETS:
·
Computer
·
Furniture
·
Building
·
Office Equipment
·
Land and Building
·
Vehicle
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No exist to suggest that the property or assets of the subject are
derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.32 |
|
|
1 |
Rs.100.04 |
|
Euro |
1 |
Rs.82.65 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
42 |
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.