MIRA
INFORM REPORT
|
Report Date : |
02.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
FAB |
|
|
|
|
Registered
Office : |
14-N Block Market, Greater Kailash, New Delhi-110048 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
14.12.1976 |
|
|
|
|
Com. Reg. No.: |
55-008436 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs.22.527
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1976PTC008436 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACF0782H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trading in Garments, other handmade items and Organic food products. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (65) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 12000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established and reputed company having fine track. Financial position of the company is sound. Trade relations are
reported as fair. Business is active. Payments are reported to be regular and
as per commitments. The company can be considered good for 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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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
N E W S
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes tat many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization policies.
A firm called Ciane Analytics studied returns from assets including
equities, gold, fixed deposits, G-Secs and real estate since 1991. Real estate
outperformed every other asset classes during the 23-year period with an
annualized return of 20 % ! Equities came in second with annualized return of
15.5 % ! However, while these returns may seem mouthwatering, the fact is that
the return from equities adjusted for inflation came down to just 7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating=AA- |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
06.12.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating=A1+ |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
|
Date |
06.12.2013 |
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
31-03-2014.
INFORMATION DENIED BY
|
Name : |
Mr. M. Chawan |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-11-26811053 |
|
Date : |
28.07.2014 |
LOCATIONS
|
Registered Office : |
14-N Block Market, Greater Kailash, New Delhi – 110048, India |
|
Tel. No.: |
91-11-26811047 / 29232183 / 84 / 85 |
|
Fax No.: |
91-11-26811053 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
B-53, Okhla Industrial Area, Phase-1, New Delhi – 110020, India |
|
Tel. No.: |
91-11-40692000 |
|
Fax No.: |
91-11-26811053 |
|
E-Mail : |
|
|
|
|
|
Store : |
16, Hindustan Park, Kolkata – 700029, West Bengal, India |
DIRECTORS
AS ON 02.08.2013
|
Name : |
Mr. William Nanda Bissell |
|
Designation : |
Managing Director |
|
Address : |
N-19, POanchsheel Park, New Delhi – 110017, India |
|
Date of Birth/Age : |
10.06.1966 |
|
Date of Appointment : |
08.08.2000 |
|
DIN No.: |
00012819 |
|
|
|
|
Name : |
Mr. Sunil Chainani |
|
Designation : |
Director |
|
Address : |
No. 106, 17th C, Main, 5th Block, Koramangala,
Bangalore – 560095, Karnataka, India |
|
Date of Birth/Age : |
30.12.1957 |
|
Date of Appointment : |
17.03.2003 |
|
DIN No.: |
00064052 |
|
|
|
|
Name : |
Mr. Charu Sharma |
|
Designation : |
Director |
|
Address : |
D-44, Anand Niketan, New Delhi – 110021, India |
|
Date of Birth/Age : |
12.02.1959 |
|
Date of Appointment : |
15.11.2006 |
|
DIN No.: |
01150944 |
|
|
|
|
Name : |
Mr. Vijai Kumar Kapoor |
|
Designation : |
Director |
|
Address : |
1-A, Tata Apartments, 23, Prithaviraj Road, New Delhi – 110001, India |
|
Date of Birth/Age : |
13.12.1938 |
|
Date of Appointment : |
31.01.2006 |
|
DIN No.: |
01084371 |
|
|
|
|
Name : |
Mr. Madhukar Khera |
|
Designation : |
Director |
|
Address : |
646, Model Twon, Panipat – 132103, Haryana, India |
|
Date of Birth/Age : |
18.12.1946 |
|
Date of Appointment : |
14.12.1976 |
|
DIN No.: |
01043399 |
|
|
|
|
Name : |
Mr. Willam Sean Sovak |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
08.06.1972 |
|
Date of Appointment : |
09.02.2006 |
|
DIN No.: |
01161892 |
|
|
|
|
Name : |
Mr. Mansoon Latane Bissell |
|
Designation : |
Director |
|
Address : |
N-19, Panchsheel Park, New Delhi – 110017, India |
|
Date of Birth/Age : |
17.12.1969 |
|
Date of Appointment : |
27.06.2000 |
|
DIN No.: |
02705935 |
|
|
|
|
Name : |
Mr. Prakash Parthasarathy |
|
Designation : |
Director |
|
Address : |
404, Arcadia Bunglow, Bangalore outer Circle, White Field, Bangalore –
560066, Karnataka, India |
|
Date of Birth/Age : |
04.03.1971 |
|
Date of Appointment : |
22.02.2012 |
|
DIN No.: |
02011709 |
|
|
|
|
Name : |
Mr. Ravinder Singh Thakran |
|
Designation : |
Director |
|
Address : |
3188, Sector-B, Pocket-4, Vasant Kunj, New Delhi – 110070, India |
|
Date of Birth/Age : |
21.05.1963 |
|
Date of Appointment : |
05.03.2012 |
|
DIN No.: |
01077387 |
KEY EXECUTIVES
|
Name : |
Mrs. Monika Uppal |
|
Designation : |
Secretary |
|
Address : |
11/141, Malviya Nagar, New Delhi-110017, |
|
Date of Birth/Age : |
22.01.1981 |
|
Date of Appointment : |
24.07.2010 |
|
PAN No.: |
AAQPU1770P |
|
|
|
|
Name : |
Mr. M. Chawan |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS
AS ON 02.08.2013
SHAREHOLDERS DETAILS FILE ATTACHED.
Equity Share Break up (Percentage of Total Equity)
AS ON 02.08.2013
|
Category |
Percentage |
|
Venture capital |
10.62 |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
39.54 |
|
Bodies corporate |
5.68 |
|
Directors or relatives of Directors |
38.70 |
|
Other top fifty shareholders |
5.13 |
|
Others |
0.33 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading in Garments, other handmade items and Organic food products. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||
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|
||||||||||||||||||
|
Bankers : |
·
Kotak Mahindra Bank Limited, 15-16, ·
The Saraswat Co-Operative Bank Limited, Saigal
Mansiona, ·
Citi Bank N.A. ·
HDFC Bank Limited ·
Standard Chartered Bank |
||||||||||||||||||
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|
||||||||||||||||||
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Facilities : |
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Banking
Relations : |
-- |
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|
Auditors : |
|
|
Name : |
Mohinder Puri and Company Chartered Accountant |
|
Address : |
1-AD, Vandhana, 11 Tolstoy Marg, New Delhi – 110001, India |
|
PAN No.: |
AAAFM9269R |
|
|
|
|
Associates
: |
·
Bengal Artisans Craft Company
Limited, India ·
Bijnor Artisans Crafts Limited, India
·
Dah Chanderi Limited, India ·
Deccan Crafts and Weavers Limited,
India ·
Delhi Artisans Limited, India ·
Desert Artisans Handicrafts Bhuj
Limited, India ·
Desert Artisans Handicrafts Jaipur
Limited, India ·
Desert Artisans Handicrafts Jodhpur
Limited, India ·
Dilli Karigari Limited, India ·
Krishna Weavers Limited, India ·
Mumbai Vastra Kala Limited, India ·
Naugaon Artisans Handicrafts Limited,
India ·
Nilgiri Artisans Limited, India ·
Orissa Artisans And Weavers Limited,
India ·
Rangsutra Crafts India Limited, India ·
Saptrangi Craft Limited, India ·
Up Artisans Sutradhar Limited, India ·
Weavers India General Trading LLC,
Dubai, United Arab Emirates ·
Fabindia S.R.L., Italy |
|
|
|
|
Subsidiary
company : |
·
East Limited, United Kingdom ·
Artisans Micro Finance Private
Limited ·
Fabindia Artisans And Crafts Limited ·
Fabindia International Pte. Limited,
Singapore ·
Indigo Origins Pte. Limited,
Singapore |
CAPITAL STRUCTURE
AS ON 02.08.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs.10/- each |
Rs.25.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2365170 |
Equity Shares |
Rs.10/- each |
Rs.22.527 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 |
22.527 |
22.027 |
20.902 |
|
(b) Reserves & Surplus |
3084.048 |
2402.843 |
1495.420 |
|
(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) |
3106.575 |
2424.870 |
1516.322 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
30.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.926 |
0.526 |
0.081 |
|
(d) long-term provisions |
71.294 |
32.923 |
27.493 |
|
Total Non-current Liabilities (3) |
72.220 |
33.449 |
57.574 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
157.672 |
279.761 |
|
(b) Trade payables |
89.985 |
83.017 |
102.270 |
|
(c) Other current
liabilities |
281.899 |
239.527 |
174.349 |
|
(d) Short-term provisions |
154.580 |
138.597 |
79.025 |
|
Total Current Liabilities (4) |
526.464 |
618.813 |
635.405 |
|
|
|
|
|
|
TOTAL |
3705.259 |
3077.132 |
2209.301 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
822.088 |
769.510 |
584.675 |
|
(ii) Intangible Assets |
160.533 |
57.454 |
47.606 |
|
(iii) Capital work-in-progress |
23.972 |
26.378 |
18.330 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
638.953 |
479.047 |
211.736 |
|
(c) Deferred tax assets (net) |
20.154 |
17.069 |
14.684 |
|
(d) Long-term Loan and Advances |
224.687 |
182.723 |
145.872 |
|
(e) Other Non-current assets |
14.511 |
10.864 |
23.386 |
|
Total Non-Current Assets |
1904.898 |
1543.045 |
1046.289 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1265.863 |
1072.238 |
836.995 |
|
(c) Trade receivables |
37.701 |
40.368 |
23.564 |
|
(d) Cash and cash
equivalents |
381.056 |
330.558 |
49.956 |
|
(e) Short-term loans and
advances |
111.251 |
88.167 |
251.901 |
|
(f) Other current assets |
4.490 |
2.756 |
0.596 |
|
Total Current Assets |
1800.361 |
1534.087 |
1163.012 |
|
|
|
|
|
|
TOTAL |
3705.259 |
3077.132 |
2209.301 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
5424.928 |
4847.684 |
4043.298 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
4713.434 |
4228.994 |
3547.946 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
711.494 |
618.690 |
495.352 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
62.108 |
0.720 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE
TAX |
649.386 |
617.970 |
495.352 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
218.615 |
214.834 |
194.169 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
430.771 |
403.136 |
301.183 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
182.13 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
7.94 |
8.32 |
7.45 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
21.49 |
24.19 |
25.21 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21 |
0.25 |
0.33 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.07 |
0.20 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.42 |
2.48 |
1.83 |
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 |
20.902 |
22.027 |
22.527 |
|
Reserves & Surplus |
1495.420 |
2402.843 |
3084.048 |
|
Net
worth |
1516.322 |
2424.870 |
3106.575 |
|
|
|
|
|
|
long-term borrowings |
30.000 |
0.000 |
0.000 |
|
Short term borrowings |
279.761 |
157.672 |
0.000 |
|
Total
borrowings |
309.761 |
157.672 |
0.000 |
|
Debt/Equity
ratio |
0.204 |
0.065 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
4,043.298 |
4,847.684 |
5,424.928 |
|
|
|
19.894 |
11.908 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
4,043.298 |
4,847.684 |
5,424.928 |
|
Profit |
301.183 |
403.136 |
430.771 |
|
|
7.45% |
8.32% |
7.94% |
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 |
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 |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
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 CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10428008 |
10/10/2013
* |
350,000,000.00 |
THE
HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
BIRLA
TOWERS, 25, BARAKHAMBA ROAD,, NEW DELHI, DELHI - 110001, INDIA |
B86809902 |
|
2 |
10302773 |
01/08/2011 |
150,000,000.00 |
HDFC
BANK LIMITED |
HDFC
BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013,
INDIA |
B19022144 |
|
3 |
10271179 |
21/01/2014
* |
250,000,000.00 |
KOTAK
MAHINDRA BANK LIMITED |
7TH
FLOOR, AMBADEEP BUILDING, 14, KG MARG, NEW DELHI, DELHI - 110001, INDIA |
B96638036 |
|
4 |
10008302 |
27/01/2014
* |
350,000,000.00 |
STANDARD
CHARTERED BANK |
CREDIT
RISK CONTROL, NARAIN MANZIL, 23 BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001,
INDIA |
B97124499 |
|
5 |
80003418 |
20/02/2014
* |
311,000,000.00 |
CITIBANK
N.A |
JEEVAN
BHARTI BUILDING, 4TH FLOOR, 124 CONNAUGHT CIRCUS, CONNAUGHT PLACE, NEW DELHI,
DELHI - 110001, INDIA |
B96885231 |
|
6 |
90049362 |
14/01/2003
* |
80,000,000.00 |
THE
BANK OF NOVASCOTIA |
MG
ROAD BRANCH, BANGALORE, KARNATAKA - 560001, INDIA |
- |
|
7 |
90048723 |
20/10/2001 |
3,600,000.00 |
THE
SARSWAT CO-OPERATIVE BANK LTD |
SAIGAL
MANSION, PALI HILL ROAD, MUMBAI, MAHARASHTRA - 400052, INDIA |
- |
|
8 |
90048720 |
16/01/2002
* |
4,000,000.00 |
THE
SARASWAT CO-OPERATIVE BANK LIMITED |
SAIGAL
MANSION, PALI HILL ROAD; KHAR (W), MUMBAI, MAHARASHTRA - 400052, INDIA |
- |
|
9 |
90048702 |
11/10/2001 |
1,339,683.00 |
THE
SARASWAT CO-OPERATIVE BANK LIMITED |
SAIGAL
MANSION, PALLI HILL ROAD, MUMBAI, MAHARASHTRA - 400052, INDIA |
- |
*Date of modification Charges
FIXED ASSETS:
·
·
Building
·
Furniture, Fixtures and Office Equipments
·
Air Conditioners and Cooling Equipments
·
Vehicles
·
Commercial Vehicles
·
Moulds and Blocks
·
Computers
·
Computer Software
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.60.85 |
|
|
1 |
Rs.102.69 |
|
Euro |
1 |
Rs.81.46 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
65 |
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.