|
Report Date : |
12.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
SAHAJANAND HI-TECH CONSTRUCTIONS PRIVATE LIMITED (w.e.f. 15.10.2010) |
|
|
|
|
Formerly Known
As : |
PARASNATH HI-TECH CONSTRUCTIONS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
216, Shah and Nahar Industrial Estate, Dr. E. Moses Road, Worli,
Mumbai – 400018, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
06.03.2007 |
|
|
|
|
Com. Reg. No.: |
11-168407 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U70102MH2007PTC168407 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECP1936F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of construction and development of real estate. |
|
|
|
|
No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (12) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The company has incurred huge accumulated losses which has eroded net
worth of the company. Liquidity position of the company is under pressure. Business is active. Payment terms are slow. The company can be considered for business dealings on safe and
secured 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.
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.
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
MANAGEMENT NON CO-OPERATIVE (91-22-23024400)
LOCATIONS
|
Registered Office : |
216, Shah and Nahar Industrial Estate, Dr. E. Moses Road, Worli,
Mumbai – 400018, Maharashtra, India |
|
Tel. No. : |
91-22-23024400 |
|
Fax No. : |
91-22-23024550 |
|
E-Mail : |
DIRECTORS
As on 12.08.2013
|
Name : |
Mr. Pankajkumar Rajendra Jain |
|
Designation : |
Nominee Director |
|
Address : |
Flat No - 301, 3rd Floor, Tirupati Complex Society, Ram Mandir Road, Near Babhai Naka, Borivali (West), Mumbai – 400092, Maharashtra, India |
|
Date of Birth/Age : |
01.07.1980 |
|
Date of Appointment : |
15.01.2013 |
|
DIN No. : |
05114230 |
|
|
|
|
Name : |
Mr. Rameshchandra Chechani |
|
Designation : |
Nominee Director |
|
Address : |
B-602, Lata CHS Limited, Kulupwadi Road, Above Axis Bank, Borivali (East), Mumbai – 400066, Maharashtra, India |
|
Date of Birth/Age : |
05.06.1964 |
|
Date of Appointment : |
15.01.2013 |
|
DIN No. : |
05179363 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 12.08.2013
|
Names of Shareholders (Equity Shareholders) |
No. of Shares |
|
Lodha Developers Limited, India |
9999 |
|
Lodha Dwellers Private Limited – Nominee of Lodha Developers Limited, India |
1 |
|
|
|
|
Total |
10000 |
|
Names of Shareholders (Preference Shareholders) |
No. of Shares |
|
Lodha Dwellers Private Limited |
40000 |
|
|
|
|
Total |
40000 |
As on 12.08.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of construction and development of real estate. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
¨ Bank of Baroda 136, Vithalbhai Patel Road, Mumbai - 400004, Maharashtra, India ¨ Punjab and Sind Bank, J. k. Somani Building, British Hotel Lane, Fort, Mumbai – 400023, Maharashtra, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Shanker and Kapani Chartered Accountants |
|
Address : |
2nd Floor, NTC House, 15 N M Marg, Ballard Estate, Mumbai – 400038, Maharashtra, India |
|
PAN
No. : |
AAKFS6521L |
|
|
|
|
Holding company : |
¨ Lodha Developers Private Limited (Formerly known as Lodha Developers Limited) |
|
|
|
|
Fellow Subsidiary
company : |
¨ Aasthavinayak Estate Company Private Limited ¨ Aasthavinayak Real Estate Private Limited ¨ Adinath Builders Private Limited ¨ Ajitnath Hi Tech Builders Private Limited ¨ Anantnath Constructions and Farms Private Limited ¨ Arihant Premises Private Limited ¨ Chetna Infracon Private Limited ¨ Cowtown Land Development Private Limited ¨ Galaxy Premises Private Limited ¨ Gandhar Builders Private Limited ¨ Hi-class Buildcon Private Limited ¨ Hotel Rahat Palace Private Limited ¨ International Airport Builders & Management Services Private Limited ¨ Kidderpore Holdings Limited ¨ Lodha Attentive Developers and Farms Private Limited ¨ Lodha Buildcon Private Limited ¨ Lodha Building and Construction Private Limited ¨ Lodha Designer Construction Private Limited ¨ Lodha Developers UK Limited ¨ Lodha Dwellers Private Limited ¨ Lodha Crown Buildmart Private Limited ¨ Lodha Elevation Buildcon Private Limited ¨ Lodha Estate Private Limited ¨ Lodha Glowing Construction Private Limited ¨ Lodha Hi?Rise Builders Private Limited ¨ Lodha Home Developers Private Limited ¨ Lodha Home Finance Limited ¨ Lodha Home Styles Private Limited ¨ Lodha Impression Real Estate Private Limited ¨ Lodha Land Developers Private Limited ¨ Lodha Novel Buildfarms Private Limited ¨ Lodha Pinnacle Buildtech and Farms Private Limited ¨ Lodha Prime Buildfarms Private Limited ¨ Macrotech Constructions Private Limited ¨ Mahavir Build Estate Private Limited ¨ Mahavir Premises Private Limited ¨ Microtec Constructions Private Limited ¨ Nabhiraja Software Design Private Limited ¨ (Formerly known as Ma Padmavati Software Design Private Limited) ¨ Naminath Builders and Farms Private Limited ¨ National Standard (India) Limited ¨ Odeon Theatres and Properties Private Limited ¨ Palava Utilities Private Limited ¨ Sai Ishwer Finvest Private Limited ¨ Samvara Buildtech Private Limited (Formerly known as Maa Padmavati Buildtech Private Limited) ¨ Sanathnagar Enterprises Limited ¨ Sarvavasa Buildtech & Farms Private Limited (Formerly known as Padmavati Buildtech & Farms Private Limited) ¨ Shantinath Designer Construction Private Limited ¨ Shreeniwas Cotton Mills Limited ¨ Shri Kailash Properties and Agrofarms Private Limited ¨ Shri Nakoda Bhirav Realtors Private Limited ¨ Shri Vardhvinayak Builders Private Limited ¨ Siddhnath Residential Paradise Private Limited ¨ Simtools Private Limited ¨ Sitaldas Estate Private Limited ¨ Suryakrupa Farms and Constructions Private Limited |
|
|
|
|
Limited Liability
Partnerships under control : |
¨ Ajeethnath Hi Tech Buildtech LLP ¨ Lodha Dwellerz LLP ¨ Lodha Fincorp Distribution Services LLP |
|
|
|
|
Partnership Firms
under control : |
¨ Lodha Construction (Dombivli) ¨ Lodha Palazzo ¨ Mahavir Associates ¨ Shree Sainath Enterprises ¨ Vivek Enterprises |
|
|
|
|
Enterprises which are owned, or have
significant influence of or are partners with Key management personnel and
their relatives : |
Lodha Healthy Constructions and Developers Private Limited |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
|
40000 |
Preference Shares |
Rs.10/- each |
Rs.0.400 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 0.500
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
|
40000 |
Preference Shares |
Rs.10/- each |
Rs.0.400 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 0.500
Million |
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 |
0.500 |
0.500 |
0.500 |
|
(b) Reserves & Surplus |
(77.881) |
(3.382) |
(1.458) |
|
(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) |
(77.381) |
(2.882) |
(0.958) |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
1250.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
11.116 |
3.942 |
2.695 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.263 |
|
Total Non-current Liabilities (3) |
11.116 |
3.942 |
1252.958 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
5410.010 |
2665.980 |
962.039 |
|
(b) Trade payables |
193.077 |
27.568 |
27.413 |
|
(c) Other current
liabilities |
2673.157 |
147.685 |
2.367 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities (4) |
8276.244 |
2841.233 |
991.819 |
|
|
|
|
|
|
TOTAL |
8209.979 |
2842.293 |
2243.819 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
49.857 |
1.588 |
1.984 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
6.359 |
28.919 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.779 |
0.779 |
0.779 |
|
(c) Deferred tax assets (net) |
34.966 |
1.362 |
0.476 |
|
(d) Long-term Loan and Advances |
0.252 |
0.009 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
85.854 |
10.097 |
32.158 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
3644.928 |
2688.440 |
2209.661 |
|
(c) Trade receivables |
0.000 |
0.000 |
0.000 |
|
(d) Cash and cash
equivalents |
171.874 |
139.332 |
1.317 |
|
(e) Short-term loans and
advances |
4299.181 |
3.525 |
0.028 |
|
(f) Other current assets |
8.142 |
0.899 |
0.655 |
|
Total Current Assets |
8124.125 |
2832.196 |
2211.661 |
|
|
|
|
|
|
TOTAL |
8209.979 |
2842.293 |
2243.819 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
4.001 |
0.089 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
110.565 |
2.899 |
1.371 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
(106.564) |
(2.810) |
(1.371) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(32.065) |
(0.886) |
(0.346) |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(74.499) |
(1.924) |
(1.025) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(1489.98) |
(38.48) |
(20.50) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(1862.01) |
(2161.80) |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.30) |
(0.10) |
(0.06) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
1.38 |
0.98 |
1.43 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
(69.91) |
(925.05) |
(2309.02) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.98 |
1.00 |
2.23 |
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 |
0.500 |
0.500 |
0.500 |
|
Reserves & Surplus |
(1.458) |
(3.382) |
(77.881) |
|
Net
worth |
(0.958) |
(2.882) |
(77.381) |
|
|
|
|
|
|
long-term borrowings |
1250.000 |
0.000 |
0.000 |
|
Short term borrowings |
962.039 |
2665.980 |
5410.010 |
|
Total
borrowings |
2212.039 |
2665.980 |
5410.010 |
|
Debt/Equity
ratio |
(2,309.018) |
(925.045) |
(69.9140 |
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) |
|
Total Income |
0.000 |
0.089 |
4.001 |
|
|
|
|
4,395.506 |
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 |
0.000 |
0.089 |
4.001 |
|
Profit |
(1.025) |
(1.924) |
(74.499) |
|
|
|
(2161.80%) |
(1862.01%) |
LOCAL AGENCY FURTHER INFORMATION
NOTE: Current
Maturities of Long Term Debts is Not Available.
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
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 |
|
|
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 |
No |
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans and advance from others |
4010.010 |
2665.980 |
|
|
|
|
|
Total |
4010.010 |
2665.980 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10444588 |
27/08/2013 |
3,000,000,000.00 |
Bank Of Baroda |
136, Vithalbhai Patel Road, Mumbai - 400004, Mumbai, Maharashtra -
400004, INDIA |
B82895079 |
FINANCIAL OVERVIEW
The Company’s
total income has increased from Rs. 0.89 lacs in the financial year 2011-12 to Rs.
4.001 millions in the financial year 2012-13. There has also been an increase
in Company’s total expenditure from Rs. 2.899 millions for the financial year
2011-12 to Rs. 110.565 millions for the financial year 2012-13. Consequently,
the Company’s Net Loss after Tax has also increased from Rs. 19.24 lacs for the
previous financial year to Rs. 74.499 millions, mainly on account of Business
promotion and marketing expenses for the financial year under review.
THE YEAR GONE BY
Pune Real Estate
The Pune residential
market saw an average appreciation of 12% in 2012 and there have been forecasts
that Pune residential market is going to boom further. This may be due to the
high demand of properties from IT/ ITeS and manufacturing sector employees. The
Pune residential market is likely to gain further attention of investors based
in Mumbai and NRIs due to its stability in the last year. Also the price
appreciation of properties in Pune is going to be slightly high as compared to
last year with an average appreciation of 12-15%. Furthermore, the mid segment
and luxury segment sector witnessed hike in supply of properties. Also the
super-luxury segment saw growth of supply in 2012, especially in the Eastern
corridor including Koregaon Park, Kalyani Nagar, Viman Nagar and Boat Club
Road. The commercial demand in Pune is cautiously optimistic and will depend on
the health of the IT/ ITeS industry.
BUSINESS OVERVIEW
The Company
launched a large residential development in the form of Lodha Belmondo opposite
Sahara Cricket Stadium, Mumbai Pune Expressway, Pune. The project is a landmark
luxury project in Western Pune region, the first by Lodha in Pune. The project
comprises of apartments featuring 2, 3 and 4 BHK residences along with luxury
sky duplexes and golf course facing row villas. The first phase of the project
was launched in FY13 and has received a very encouraging and warm response from
the customers.
FIXED ASSETS
œ Buildings
œ Plant and Equipment
œ Furniture and Fixtures
œ Office Equipment
œ Computer Equipments
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.61.11 |
|
|
1 |
Rs.102.53 |
|
Euro |
1 |
Rs.81.87 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
-- |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
12 |
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.