MIRA
INFORM REPORT
|
Report Date : |
28.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
VIRAJ IMPEX PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Vijraj House, 5th Floor, 47 PD, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
07.03.1988 |
|
|
|
|
Com. Reg. No.: |
11-046416 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.16.842 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51900MH1988PTC046416 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMV10157A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACV3656L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trading in Iron and Steel and Mainly Imports Flat Steel
Products. |
|
|
|
|
No. of Employees
: |
20 (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 1660000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The company has incurred loss from its operation during financial year
2013. However, the rating reflects established relationships with reputed
international suppliers marked by wide product profile diversified customer
base and comfortable capital of the company. Trade relations are fair. Business is active. Payment terms are reported
to be slow but correct. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1 million
Indian tourists in 2012), Thailand (one million), the United Arab Emirates
().98 million) and Malaysia ().82 million) emerged as the preferred holidays
hotspots for Indians. The total figure is expected to increase to 1.93 million
by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Fund Based Limit (Cash Credit) = BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk |
|
Date |
May 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non Fund Based Limit = A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk |
|
Date |
May 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. Dinesh Chanchlani |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-22-61295000 |
|
Date : |
25.04.2014 |
LOCATIONS
|
Registered Office : |
Vijraj House, 5th Floor, 47 PD, Mellore Road, Opposite to Loha
Bhavan, Masjid (East), Mumbai – 400009, Maharashtra, India |
|
Tel. No.: |
91-22-23481446 / 61295000 |
|
Fax No.: |
91-22-23480499 / 61295024 |
|
E-Mail : |
|
|
|
|
|
Corporate Office : |
87/B, |
|
Tel. No.: |
91-22-23480937/ 23480938/ 23480160/ 23483658 / 23718446 |
|
|
|
|
Sales Office : |
KL-6/11/15, Sector 3E, Kalamboli, Navi Mumbai – 410218, |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Ratanlal Kanyalal Didwania |
|
Designation : |
Director |
|
Address : |
Flat No.20, 10th Floor, New Usha Kiran, |
|
Date of Birth/Age : |
02.08.1935 |
|
Date of Appointment : |
06.12.1990 |
|
PAN No.: |
ACQPD3760L |
|
DIN No.: |
00220820 |
|
|
|
|
Name : |
Mr. Kailash Ratanlal Didwania |
|
Designation : |
Director |
|
Address : |
30, |
|
Date of Birth/Age : |
01.05.1959 |
|
Date of Appointment : |
07.03.1988 |
|
PAN No.: |
ACQPD3758A |
|
DIN No.: |
00226080 |
|
|
|
|
Name : |
Mr. Prakash Ratanlal Didwania |
|
Designation : |
Director |
|
Address : |
Flat No.20, 10th Floor, New Usha Kiran, |
|
Date of Birth/Age : |
15.06.1960 |
|
Date of Appointment : |
07.03.1988 |
|
PAN No.: |
AFQPD0874A |
|
DIN No.: |
00225978 |
KEY EXECUTIVES
|
Name : |
Mr. Dinesh Chanchlani |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Kailash Didwania |
|
20 |
|
Prakash Didwania |
|
20 |
|
Suman Didwania |
|
2500 |
|
Krishna R. Poddar |
|
2500 |
|
Krishna Bal Poddar |
|
2500 |
|
Ratnidevi S. Timbrewala |
|
100 |
|
Lalitadevi S. Timbrewala |
|
150 |
|
Sushil S. Timbrewala |
|
200 |
|
Rekha Bhuwalka |
|
1000 |
|
Sunil Kumar Shah |
|
500 |
|
Sitaram Bhuwalka |
|
1000 |
|
Manjudevi Poddar |
|
1400 |
|
Satyanarayan Sharad Poddar |
|
250 |
|
R |
|
1000 |
|
Manjudevi Didwania |
|
7000 |
|
Parmeshwari R. Didwania |
|
8250 |
|
O P Poddar |
|
600 |
|
R K Vaish |
|
600 |
|
Prasad Jagdish Gupta |
|
700 |
|
Ram Niwas Bagaria |
|
500 |
|
Sauchagyavati Bagaria |
|
500 |
|
Ushadevi Agarwal |
|
500 |
|
Ramesh Kumar Lath |
|
500 |
|
Atmika Didwania |
|
8000 |
|
Aayush Didwania |
|
8000 |
|
Sunita Didwania |
|
84530 |
|
Nirbhay Holdings Private Limited |
|
17600 |
|
Vimal Didwania |
|
18000 |
|
Total |
|
168420 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Bodies corporate |
10.45 |
|
Directors or relatives of Directors |
81.68 |
|
Other top fifty shareholders |
7.87 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading in Iron and Steel and Mainly Imports Flat Steel
Products. |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
·
China ·
Japan ·
Russia |
GENERAL INFORMATION
|
No. of Employees : |
20 (Approximately) |
|
|
|
|
Bankers : |
·
Central Bank of India, Corporate Finance Branch,
1st floor, MMO Building, Fort, Mumbai – 400009, Maharashtra, India
·
Bank of Baroda, Nariman Point Branch, Foreshore
Building, Gen Bhosale Marg, Nariman Point, Mumbai – 400021, Maharashtra,
India ·
UCO Bank , Flagship Corporate Branch, Nariman
Point, 1st Floor, Mafatlal Centre, Mumbai – 400021, Maharashtra,
India ·
Indian Bank, ·
Lakshmi Vilas Bank Limited, Fort ·
Jammu and Kashmir Bank Limited, Fort Branch |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Bhatt and Mathur Chartered Accountant |
|
Address : |
402, Star Manor, |
|
PAN No.: |
AAAFB5870F |
|
|
|
|
Subsidiary Company : |
·
Viraj Overseas Corporation Pte Limited |
|
|
|
|
Associates : |
·
Vinayaga Marine Petro Limited CIN No: U35110MH1997PLC111092 ·
Kavi Commercial Company Limited CIN No: L99999MH1985PLC082517 ·
Riya Shriya Properties Private Limited CIN No: U70100MH1999PTC121036 |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
350000 |
Equity Shares |
Rs.100/- each |
Rs.35.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
168420 |
Equity Shares |
Rs.100/- each |
Rs.16.842 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 |
16.842 |
16.842 |
16.842 |
|
(b) Reserves & Surplus |
397.094 |
451.868 |
444.554 |
|
(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) |
413.936 |
468.710 |
461.396 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
3.509 |
3.796 |
|
(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 |
3.509 |
3.796 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
1,323.556 |
1,816.182 |
1,219.760 |
|
(c) Other current
liabilities |
41.389 |
42.662 |
52.491 |
|
(d) Short-term provisions |
0.000 |
0.000 |
2.230 |
|
Total Current Liabilities (4) |
1,364.945 |
1,858.844 |
1,274.481 |
|
|
|
|
|
|
TOTAL |
1,778.881 |
2,331.063 |
1,739.673 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
38.323 |
41.107 |
45.476 |
|
(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 |
64.102 |
64.102 |
64.102 |
|
(c) Deferred tax assets (net) |
29.009 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
22.163 |
17.345 |
1.284 |
|
(e) Other Non-current assets |
2.293 |
2.293 |
2.293 |
|
Total Non-Current Assets |
155.890 |
124.847 |
113.155 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
15.068 |
11.832 |
11.697 |
|
(b) Inventories |
476.643 |
174.944 |
272.103 |
|
(c) Trade receivables |
805.258 |
722.973 |
638.907 |
|
(d) Cash and cash
equivalents |
242.348 |
1,194.686 |
405.673 |
|
(e) Short-term loans and
advances |
17.181 |
48.590 |
198.369 |
|
(f) Other current assets |
66.493 |
53.191 |
99.769 |
|
Total Current Assets |
1,622.991 |
2,206.216 |
1,626.518 |
|
|
|
|
|
|
TOTAL |
1,778.881 |
2,331.063 |
1,739.673 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
|
|
|
Income |
3000.000 (Approximate) |
4187.222 (Gross Income) |
3742.503 (Gross Income) |
|
|
|
Other Income |
|
NA |
NA |
|
|
|
TOTAL |
|
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
16.549 |
145.251 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
NA |
5.582 |
5.555 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
10.967 |
139.696 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
3.462 |
3.343 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
|
7.505 |
136.353 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
0.191 |
50.408 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
(54.775) |
7.314 |
85.945 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
451.868 |
444.554 |
358.609 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
397.093 |
451.868 |
444.554 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(325.23) |
NA |
NA |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
4000.000 |
The above information has been parted been parted by Mr. Dinesh
Chanchlani
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
0.33 |
8.14 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
0.02 |
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.19 |
1.19 |
1.28 |
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 |
16.842 |
16.842 |
16.842 |
|
Reserves & Surplus |
444.554 |
451.868 |
397.094 |
|
Net
worth |
461.396 |
468.710 |
413.936 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
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
four years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
CORPORATE INFORMATION:
Subject
is engaged in business of trading in Iron and Steel and mainly imports flat steel
products from various countries for resale in India.
BUSINESS REVIEW
The Company deals
in the flat steel product viz. prime/stock lot flat products like Hot Rolled,
Cold Rolled Coils/Sheets/Plates, Non Alloy Steel Rod, M.S. Billets etc.
Company’s sales
were down by 26.84% during the F.Y. 2012-13 as compared to previous F.Y.
2011-12 and the margin of the Company was also hit mainly due to depreciation
of the local currency and volatility in steel prices in the F.Y.2012-13. During
the F.Y.2012-13, rupee has depreciated against US$ due to Europes financial
crisis, which led to higher costs for imports.
Persistent
slowdown in demand from key end-user industries kept the consumption growth
muted during F.Y. 2012-13.
Steel industry
mainly derives its demand from other sectors like infrastructure, aviation,
engineering, construction, automobile, pipes and tubes etc. Thus its intense
integration with other important segments makes it a strategic focus area for
the Government as well.
India Ratings and
Research (Ind-Ra) anticipates that growth in Indian steel sector will gain
momentum in 2014 on the back of growth in other economic segments. The World
Steel Association (WSA) projects that local steel demand in India would
increase by 5.9 per cent and 7 per cent in 2013 and 2014 respectively.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10118032 |
11/06/2011 * |
1,250,000,000.00 |
CENTRAL BANK OF INDIA |
Corproate Finance Branch,1st Floor, M. M. O. Building, M.G Road, Fort, Mumbai, Maharashtra - 400023, India |
B15828619 |
|
2 |
10063497 |
04/08/2007 |
11,500,000.00 |
BANK OF BARODA |
International Business Branch, Foreshore Bldg, Gen Bhosale Marg, Nariman Point, Mumbai, Maharashtra - 400021, India |
A19868389 |
|
3 |
90214133 |
03/09/2004 |
30,000,000.00 |
BANK OF BARODA |
International Business Branch, Foreshore Bldg, Gen Bhosale Marg, Nariman Point, Mumbai, Maharashtra - 400021, India |
- |
|
4 |
90213707 |
11/07/2008 * |
150,000,000.00 |
BANK OF BARODA |
Nariman Point Branch, Foreshore Bldg, Gen Bhosale Marg, Nariman Point, Mumbai, Maharashtra - 400021, India |
A42813121 |
|
5 |
90213685 |
12/07/2010 * |
2,500,000,000.00 |
UCO BANK |
Flagship Corporate Branch, 1st Floor, Mafatlal Centre, Nariman Point, Mumbai, Maharashtra - 400021, India |
A90714080 |
|
6 |
90212972 |
04/01/1997 |
25,000,000.00 |
INDIAN BANK |
Conaught Place, New Delhi, Delhi - 110001, India |
- |
|
7 |
90212876 |
14/06/1996 |
10,000,000.00 |
THE LAKSMI VILLAGE BANK LIMITED |
64; V G Gandhi Marg, Fort Mumbai, Mumbai, Maharashtra - 400001, India |
- |
|
8 |
90212778 |
27/11/1995 |
5,000,000.00 |
INDIAN BANK |
45/90; Conaught Place, New Delhi, Delhi - 110001, India |
- |
|
9 |
90212727 |
12/09/1995 |
20,000,000.00 |
INDIAN BANK |
45/90; Conaught Place, New Delhi, Delhi - 110001, India |
- |
|
10 |
90212573 |
24/11/1994 |
10,000,000.00 |
ALLAHABAD BANK |
Industrial Finance
Branch 17/90; Chennai Hotedl, |
- |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.61.07 |
|
|
1 |
Rs.102.77 |
|
Euro |
1 |
Rs.84.49 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
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.