MIRA
INFORM REPORT
|
Report Date : |
26.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
ZENSTAR JEWELLERY LLP |
|
|
|
|
Registered
Office : |
Unit No. 70 and 71, SDF-III, Seepz-Sez, Andheri (East),
Mumbai -400096, |
|
|
|
|
Country : |
|
|
|
|
|
Date of
Incorporation : |
19.05.2011 |
|
|
|
|
LLPIN: |
AAA-4887 |
|
|
|
|
Total Obligation
of Contribution : |
Rs. 1.000 Million |
|
|
|
|
Legal Form : |
Limited Liability Partnership |
|
|
|
|
Line of Business
: |
Supplier and Manufacturer of diamond rings, necklace, bracelets,
earrings, pendants, gold ring, etc. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established Limited Liability Partnership concern having
moderate track record. Mr. Manoj Bohra, Senior Manager denied to disclose any information
about the subject. As per our previous database report we found that the company was
established during the year 2000 as a private limited. However, the company
has dissolved its business and converted into Limited Liability Partnership
concern. As per government record the LLP was registered on May 2011. As per ROC the date of balance sheet (i.e. financial filed) is shown
as 31.03.2014 but the documents related to financial are not available. As per “Registrar of Companies” the status of the company is as shown
as active. Payment terms are unknown. The Limited Liability Partnership concern 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 – 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 |
CARE |
|
Rating |
Long Term Bank Facilities (BBB-) |
|
Rating Explanation |
Moderate degree of safety it carry moderate credit risk. |
|
Date |
15.04.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities (A3) |
|
Rating Explanation |
Moderate degree of safety it carry higher credit risk. |
|
Date |
15.04.2014 |
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 DECLINED BY
|
Name : |
Mr. Manoj Bohra |
|
Designation : |
Senior Manager |
|
Contact No.: |
91-22-42572300 |
|
Date : |
20.08.2014 |
LOCATIONS
|
Registered Office : |
Unit No. 70 and 71, SDF-III, Seepz-Sez, Andheri (East),
Mumbai -400096, Maharashtra, India |
|
Tel. No.: |
91-22-28311600 |
|
Fax No.: |
91-22-28311601 |
|
E-Mail : |
|
|
Website : |
PARTNERS
|
Name : |
Mr. Sahilkumar Jain |
|
Designation : |
Partner |
|
Address : |
A-6, Jeevan Jyot 7, Setalvad Lane, Off. Nepeansea Road, Mumbai –
400036, Maharashtra, India |
|
Date of Birth/Age : |
31.07.1980 |
|
Date of Appointment : |
19.05.2011 |
|
DIN No.: |
01983265 |
|
PAN No.: |
AEKPJ8206K |
|
Passport No.: |
G0450843 |
|
Voter ID No.: |
|
|
|
|
|
Name : |
Mr. Narendra Karnavat |
|
Designation : |
Partner |
|
Address : |
1302, Garden View, 8, Harkness Road, Mumbai – 4000006, Maharashtra,
India |
|
Date of Birth/Age : |
10.12.1955 |
|
Date of Appointment : |
19.05.2011 |
|
PAN No.: |
AACPK8028Q |
|
|
|
|
Name : |
Mr. Pushpa Narendra Karnavat |
|
Designation : |
Partner |
|
Address : |
1302, Garden View, 8, Harkness Road, Mumbai – 4000006, Maharashtra,
India |
|
Date of Birth/Age : |
29.10.1958 |
|
Date of Appointment : |
19.05.2011 |
|
PAN No.: |
AACPK8028Q |
|
|
|
|
Name : |
Mr. Vaibhav Narendra Karnavat |
|
Designation : |
Partner |
|
Address : |
1302, Garden View, 8, Harkness Road, Mumbai – 4000006, Maharashtra,
India |
|
Date of Birth/Age : |
02.08.1981 |
|
Date of Appointment : |
01.03.2012 |
|
DIN No.: |
01983232 |
|
PAN No.: |
AGEPK1641D |
|
Passport No.: |
F0249349 |
|
|
|
|
Name : |
Mr. Nilesh Pravin Kothari |
|
Designation : |
Partner |
|
Address : |
111B, Atlas Apartments, Jamnadas Mehta Road, Mumbai – 400006,
Maharashtra, India |
|
Date of Birth/Age : |
11.02.1961 |
|
Date of Appointment : |
01.01.2013 |
|
DIN No.: |
00093751 |
|
PAN No.: |
AADPK4856H |
|
|
|
|
Name : |
Mr. Anish Piyush Kothari |
|
Designation : |
Partner |
|
Address : |
102, El-CID, 10th Floor, 13-A, Ridge Road, Mumbai,
Maharashtra, India |
|
Date of Birth/Age : |
19.11.1965 |
|
Date of Appointment : |
01.01.2013 |
|
DIN No.: |
0093706 |
KEY EXECUTIVES
|
Name : |
Mr. Manoj Bohra |
|
Designation : |
Senior Manager |
OBLIGATION OF
CONTRIBUTION
|
Names of Persons |
|
Obligation of Contribution (Rs. In Millions) |
|
Anish Piyush Kothari |
|
0.490 |
|
Sahilkumar Jain |
|
0.020 |
|
Narendra Karnavat |
|
0.010 |
|
Pushpa Narendra Karnavat |
|
0.010 |
|
Vaibhav Narendra Karnavat |
|
0.010 |
|
Nilesh Pravin Kothari |
|
0.460 |
|
Total |
|
1.000 |
BUSINESS DETAILS
|
Line of Business : |
Supplier and Manufacturer of diamond rings, necklace, bracelets,
earrings, pendants, gold ring, etc. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|
|
|
|
Bankers : |
Union Bank of India, Overseas Branch, Seepz ++, Unit No.7, Block No.II, Seepz ++, Marol Industrial Area, Andheri (East), Mumbai - 400096, Maharashtra, India |
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
Not Available |
CAPITAL STRUCTURE
Total Obligation of Contribution: Rs. 1.000
Million
As on15.11.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
|
150000 |
Preference Shares |
Rs.10/- each |
Rs.1.500 Millions |
|
250000 |
Unclassified equity shares |
Rs.10/- each |
Rs.2.500 Millions |
|
|
Total |
|
Rs.5.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
Note : Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
ABRIDGED BALANCE
SHEET
ZENSTAR
JEWELLERY PRIVATE LIMITED
|
SOURCES OF FUNDS |
|
15.11.2010 (8th
Month) |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
1.000 |
1.000 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
(6.601) |
(6.594) |
|
|
NETWORTH |
|
(5.601) |
(5.594) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
75.537 |
45.037 |
|
|
TOTAL BORROWING |
|
75.537 |
45.037 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
69.936 |
39.443 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
0.000 |
0.000 |
|
|
Capital work-in-progress |
|
66.140 |
38.042 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.300 |
0.000 |
|
|
Sundry Debtors |
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
|
2.045 |
0.462 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
1.451 |
1.580 |
|
Total
Current Assets |
|
3.796 |
2.042 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
0.641 |
|
|
Other Current Liabilities |
|
|
|
|
|
Provisions |
|
0.000 |
0.000 |
|
Total
Current Liabilities |
|
0.000 |
0.641 |
|
|
Net Current Assets |
|
3.796 |
1.401 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
69.936 |
39.443 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
15.11.2010 (8th
Month) |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
0.000 |
0.000 |
|
|
|
Other Income |
|
0.000 |
0.071 |
|
|
|
TOTAL |
|
0.000 |
0.071 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Legal and Professional Fees |
|
0.008 |
0.021 |
|
|
|
Audit Fees |
|
0.000 |
0.033 |
|
|
|
Miscellaneous Expenses |
|
0.000 |
0.004 |
|
|
|
Jewelley Project expenses written off
|
|
0.000 |
5.682 |
|
|
|
TOTAL |
|
0.008 |
5.740 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
|
(0.008) |
(5.669) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
|
(0.008) |
(5.669) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
(6.594) |
(0.925) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
(6.602) |
(6.594) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
(66.02) |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
|
15.11.2010 (8th
Month) |
31.03.2010 |
|
PAT / Total Income |
(%) |
|
0.00 |
(7984.51) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
(0.21) |
(277.62) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.00 |
1.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
(13.49) |
(8.05) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
0.00 |
3.19 |
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 two years |
Yes |
|
12] |
Profitability for last two 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 |
No |
|
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 |
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 |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
DIAMOND INDUSTRY – INDIA
-
From time immemorial, India is well known in the world as the birthplace
for diamonds. It is difficult to trace the origin of diamonds but history
says that in the remote past, diamonds were mined only in India. Diamond
production in India can be traced back to almost 8th Century B.C.
India, in fact, remained undisputed leader till 18th Century
when Brazilian fields were discovered in 1725 followed by emergence of S.
Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was possible only due to
combination of the manufacturing skills of the Indian workforce and the
untiring and unflagging efforts of the Indian diamantaires, supported by
progressive Government policies.
-
The area of study of family owned diamond businesses derives its
importance from the huge conglomerate of family run organizations which operate
in the diamond industry since many generations.
-
Some of the basic traits of family run business enterprises include
spirit of entrepreneurship, mutual trust lowers transaction costs, small,
nimble and quick to react, information as a source of advantage and
philanthropy.
-
Family owned diamond businesses need to improve on many fronts including
higher standard of corporate governance, long-term performance – focused
strategies, modern management and technology.
-
Utmost caution is to be exercised while dealing with some medium and
large diamond traders which are usually engaged in fictitious import – export,
inter-company transactions, financially assisted by banks. In the process,
several public sector banks lost several hundred million rupees. They mostly
diverted borrowed money for diamond business into real estate and capital
markets.
-
Excerpts from Times of India dated 30th October 2010 is as
under –
-
Gem and Jewellery Export Promotion Council in its statistical data has
shown the export of polished diamonds to have increase by 28 % in February
2013. Compared to $ 1.4 bn worth of polished diamond export in February, 2012,
India exported $ 1.84 billion worth of polished diamonds in February 2013. A
senior executive of GJEPC said, “Export of cut and polished diamonds started
falling month-wise after the imposition of 2 % of import duty on the polished
diamonds. But February, 2013 has given a new ray of hope to the industry as the
export of polished diamonds has actually increased by 28 %. It means the
industry is on the track of recovery and round tripping of diamonds has
stopped completely.” Demand has started coming from the US, the UK, Japan and
China. India’s polished diamond export is expected to cross $ 21 bn in 2013-14.
-
The banking sector has started exercising restraint while following prudent
risk management norms when lending money to gems and jewellery sector. This
follows the implementation of Basel III accord – a global voluntary regulatory
standard on bank capital adequacy, stress testing and market liquidity.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10455565 |
25/09/2013 |
10,000,000.00 |
UNION BANK OF INDIA |
OVERSEAS BRANCH, SEEPZ ++, UNIT NO.7, BLOCK NO.II, SEEPZ ++, MAROL INDL. AREA, ANDHERI (E), MUMBAI, MAHARASHTRA - 400096, INDIA |
L00948919 |
|
2 |
10455570 |
25/09/2013 |
150,000,000.00 |
UNION BANK OF INDIA |
OVERSEAS BRANCH, SEEPZ ++, UNIT NO.7, BLOCK NO.II, SEEPZ ++, MAROL INDL. AREA, ANDHERI (E), MUMBAI, MAHARASHTRA - 400096, INDIA |
L00948992 |
* Date of charge modification
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 records 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.60.442 |
|
|
1 |
Rs.100.15 |
|
Euro |
1 |
Rs.79.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
30 |
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.