MIRA INFORM REPORT
|
Report Date : |
12.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
SHEIKH BHULLAN CARPETS PRIVATE LIMITED (w.e.f. 04.08.2010) |
|
|
|
|
Formerly Known
As : |
RIZZY INDUSTRIES PRIVATE LIMITED (w.e.f. 08.03.2010) SHEIKH BHULLAN CARPETS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Mohalla-Pure Gulab, Gopi Ganj, Bhadohi – 221303, Uttar Pradesh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
29.06.1995 |
|
|
|
|
Com. Reg. No.: |
20-018323 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 6.325 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17221UP1995PTC018323 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
ALDS00898C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECS0791B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Carpets, Rugs, etc. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 876000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. Management of the company has not filed its latest financials (i.e.
2013) with the government department. As per available financials of 2012, the borrowings of the company
seems to be increasing. The rating also takes into consideration the carpet industry
characterized by large number of unorganized players and stiff competition in
the export market. However, trade relations are reported as fair. Business is active.
Payments terms are reported to be slow but correct. The company can be considered for business dealings with some caution. |
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 |
ICRA |
|
Rating |
Working capital facilities: “A4” (Suspended) |
|
Rating Explanation |
Minimal degree of safety. It carry very high credit risk. |
|
Date |
October, 2012 |
Reason for Suspended: Inability to carry out rating in absence of the requisite information from the company.
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. Mustafa |
|
Designation : |
Production Manager |
|
Contact No.: |
91-9839402000 |
|
Date : |
10.04.2014 |
LOCATIONS
|
Registered Office/ Factory : |
Mohalla-Pure Gulab, Gopi Ganj, Bhadohi – 221303, Uttar Pradesh, India |
|
Tel. No. : |
91-5414-232312/ 232798/ 232087 |
|
Mobile No. : |
91-9839402000 (Mr. Mustafa) |
|
Fax No. : |
91-5414-232536 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Mohammad Rizwan Ansari |
|
Designation : |
Director |
|
Address : |
Village-Pure Gulab, Post-Gopiganj, Sant Ravi Das Nagar, Bhadohi - 221303, Uttar Pradesh India |
|
Date of Appointment : |
29.06.1995 |
|
DIN No. : |
00447551 |
|
|
|
|
Name : |
Mr. Mohammad Qamruzaama Ansari |
|
Designation : |
Director |
|
Address : |
Village-Pure Gulab, Post-Gopiganj, Sant Ravi Das Nagar, Bhadohi - 221303, Uttar Pradesh India |
|
Date of Birth/Age : |
13.02.1977 |
|
Date of Appointment : |
01.04.2008 |
|
DIN No. : |
00443126 |
|
|
|
|
Name : |
Mr. Shamsuzzaman Ansari |
|
Designation : |
Director |
|
Address : |
Village-Pure Gulab, Post-Gopiganj, Sant Ravi Das Nagar, Bhadohi - 221303, Uttar Pradesh India |
|
Date of Appointment : |
01.05.2007 |
|
DIN No. : |
00465315 |
|
|
|
|
Name : |
Mrs. Noor Afsa Ansari |
|
Designation : |
Director |
|
Address : |
Village-Pure Gulab, Post-Gopiganj, Sant Ravi Das Nagar, Bhadohi - 221303, Uttar Pradesh India |
|
Date of Appointment : |
01.11.1999 |
|
DIN No. : |
01342923 |
|
|
|
|
Name : |
Mrs. Saira Bano |
|
Designation : |
Director |
|
Address : |
Village-Pure Gulab, Post-Gopiganj, Sant Ravi Das Nagar,
Bhadohi - 221303, Uttar Pradesh, India
|
|
Date of Birth/Age : |
05.06.1952 |
|
Date of Appointment : |
13.02.2010 |
|
DIN No. : |
02970645 |
KEY EXECUTIVES
|
Name : |
Mr. Mustafa |
|
Designation : |
Production Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Saira Bano |
20870 |
43.25 |
|
Mohd. Rizwan Ansari |
20380 |
42.24 |
|
Noor Afsa Ansari |
7000 |
14.51 |
|
Total |
48250 |
100.00 |
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Carpets, Rugs, etc. |
|
|
|
|
Exports : |
|
|
Products : |
Carpets |
|
Countries : |
Germany |
|
|
|
|
Terms : |
|
|
|
|
|
Purchasing : |
Depend |
GENERAL INFORMATION
|
Suppliers : |
· AGN Carpets · New Bharat Traders · Dinesh Chemicals · Colourtex Industries Limited · Navdurga Trading Company · Goyal Trading Company · Kanchan India Limited · Silver Line Fashion · Universal Dyers · Mahalaxmi Yarns Private Limited · Skyline India Travels Private Limited · Shri Anna Merchandise Private Limited · Yashvi Enterprise · Power Chemicals · National Textiles Company |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Customers : |
Retailers and End Users · Sam Tex Gmbh · Tratex Orient Teppich · Youzon General Trading LLC · Omn Gmbh · Mangalam Enterprises · AL-Areesh Nov. Trading · Tratex Orient Teppich · Riztex (USA) Inc. · Macnes General Trading LLC · Cirak Kuyumculuk Tekstil |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
Not Divulged |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
· Bank of India, Bhadohi, Bhadohi - 221401, Uttar Pradesh, India · Punjab National Bank · State Bank of India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Anoop K Gujarati and Associates Chartered Accountants |
|
Address : |
K-37/34, GMK Complex, Golghar, Varanasi – 221001, Uttar Pradesh, India |
|
Tel. No. : |
91-542-2335191 |
|
Mobile No. : |
91-9838075830 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AFGPG3291L |
|
|
|
|
Sister Concern : |
· Sheikh Bhullan And Sons · Handicraft Collections (India) Private Limited · Hasan Teppich Export Private Limited · Rizwan Export House |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.100/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
63250 |
Equity Shares |
Rs.100/- each |
Rs. 6.325 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 |
|
6.325 |
4.825 |
|
(b) Reserves & Surplus |
|
212.771 |
210.507 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
|
0.000 |
1.500 |
|
Total
Shareholders’ Funds (1) + (2) |
|
219.096 |
216.832 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.741 |
0.404 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
0.741 |
0.404 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
179.455 |
153.589 |
|
(b) Trade
payables |
|
249.341 |
169.660 |
|
(c) Other
current liabilities |
|
214.666 |
173.849 |
|
(d) Short-term
provisions |
|
9.565 |
4.829 |
|
Total Current Liabilities
(4) |
|
653.027 |
501.927 |
|
|
|
|
|
|
TOTAL |
|
872.864 |
719.163 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
44.352 |
46.890 |
|
(ii) Intangible
Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
47.793 |
45.717 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
92.145 |
92.607 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
497.435 |
431.966 |
|
(c) Trade
receivables |
|
259.766 |
175.667 |
|
(d) Cash
and cash equivalents |
|
0.954 |
0.604 |
|
(e)
Short-term loans and advances |
|
22.564 |
18.319 |
|
(f) Other
current assets |
|
0.000 |
0.000 |
|
Total Current
Assets |
|
780.719 |
626.556 |
|
|
|
|
|
|
TOTAL |
|
872.864 |
719.163 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
4.825 |
|
|
2] Share Application Money |
|
|
1.500 |
|
|
3] Reserves & Surplus |
|
|
202.372 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
208.697 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
75.800 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
75.800 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
284.497 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
46.941 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
37.235 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
256.085 |
|
|
Sundry Debtors |
|
|
370.124 |
|
|
Cash & Bank Balances |
|
|
12.929 |
|
|
Other Current Assets |
|
|
89.984 |
|
|
Loans & Advances |
|
|
21.400 |
|
Total
Current Assets |
|
|
750.522 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
550.201 |
|
|
Other Current Liabilities |
|
|
0.000 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
550.201 |
|
|
Net Current Assets |
|
|
200.321 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
284.497 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
18.632 |
9.707 |
23.975 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
294.58 |
201.18 |
496.89 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.82 |
0.71 |
0.36 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.20 |
1.25 |
1.36 |
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 |
4.825 |
6.325 |
|
Reserves & Surplus |
210.507 |
212.771 |
|
Share Application money
pending allotment |
1.500 |
0.000 |
|
Net
worth |
216.832 |
219.096 |
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
|
Short term borrowings |
153.589 |
179.455 |
|
Total
borrowings |
153.589 |
179.455 |
|
Debt/Equity
ratio |
0.708 |
0.819 |
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
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 |
----- |
|
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 |
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 |
Yes |
INDEX OF CHARGES
|
S. No. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10336180 |
23/12/2011 |
30,000,000.00 |
BANK OF INDIA |
STATION ROAD, BHADOHI - 221401, UTTAR PRADESH, INDIA |
B32360877 |
|
2 |
10336169 |
23/12/2011 |
100,000,000.00 |
BANK OF INDIA |
STATION ROAD, BHADOHI - 221401, UTTAR PRADESH, INDIA |
B32355604 |
|
3 |
10336182 |
23/12/2011 |
100,000,000.00 |
BANK OF INDIA |
STATION ROAD, BHADOHI - 221401, UTTAR PRADESH, INDIA |
B32361198 |
|
4 |
10336177 |
23/12/2011 |
150,000,000.00 |
BANK OF INDIA |
STATION ROAD, BHADOHI - 221401, UTTAR PRADESH, INDIA |
B32360208 |
|
5 |
10336179 |
23/12/2011 |
427,700,000.00 |
BANK OF INDIA |
STATION ROAD, BHADOHI - 221401, UTTAR PRADESH, INDIA |
B32360596 |
|
6 |
10281951 |
23/03/2011 |
1,763,000.00 |
BANK OF INDIA |
STATION ROAD, BHADOHI - 221401, UTTAR PRADESH, INDIA |
B11395092 |
|
7 |
80043881 |
01/09/2001 |
131,000,000.00 |
BOI |
STATION ROAD, BHADOHI - 221401, UTTAR PRADESH, INDIA |
- |
|
8 |
80043883 |
29/01/2014 * |
100,000,000.00 |
BANK OF INDIA |
BANK OF INDIA,
BHADOHI, BHADOHI - |
C00488122 |
|
9 |
80043882 |
29/01/2014 * |
147,500,000.00 |
BANK OF INDIA |
BANK OF INDIA,
BHADOHI, BHADOHI - |
C00651679 |
* Date of charge modification
GENERAL REVIEW
The company’s performance was satisfactory during the year. The company has achieved its turnover as well as it has achieved its target of Net Profit. The directors are hopeful that the company shall be able to achieve its target of Net Profit in the year to come as well. The future of the company seems to be bright.
FIXED ASSETS
· Air-Conditioner
· Ambassador Car
· Building
· Computer
· Furniture and Fixtures
· Ford Fresta
· Generator
· Jeep
· Mobile Set
· Machine
· Motor Cycle
· Photo Copier
· Tractor
· Pumping Set
· Water Cooler
· Xylo Car
· Whight Machine
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.60.27 |
|
|
1 |
Rs.101.10 |
|
Euro |
1 |
Rs.83.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
28 |
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.