MIRA
INFORM REPORT
|
Report Date : |
04.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
KONY INDIA PRIVATE LIMITED (w.e.f. 03.06.2014) |
|
|
|
|
Formerly Known
As : |
KONYLABS IT SERVICE PRIVATE LIMITED |
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Registered
Office : |
Sez - Unit II, Level 7, Building No. H06, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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|
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Date of
Incorporation : |
19.10.2007 |
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|
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Com. Reg. No.: |
36-056014 |
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|
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Capital
Investment / Paid-up Capital : |
Rs.33.469 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200TG2007PTC056014 |
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TIN No.: |
Not Available |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
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PAN No.: [Permanent Account No.] |
AADCK2294C |
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|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
The Company is primarily engaged in the business of
providing software development and support services. |
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|
|
|
No. of Employees
: |
600 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2600000 |
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|
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|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having fine track. Trade relations seems to be fair. Business is active. Payment terms are
reported as regular and as per commitment. The company can be considered good 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
Verdict Implications:
Apex court order may alter coal import dynamics. Traders go slowly on talks
over coal supply contracts, uncertainty over cancellation of blocks weigh on
stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn Business Empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M a M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains revenue
guidance. COO Rao says attrition still an area of concern and it would take a
few more quarters to bring down levels to 13-15 %.
DHL to invest Euro
100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that it had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
EXTERNAL AGENCY RATING
NOT AVAILABLE
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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Srinivas Topella |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-40-44991000 |
|
Date : |
03.12.2014 |
LOCATIONS
|
Registered Office : |
Sez - Unit II, Level 7, Building No. H06, Hitech City 2,
Phoenix Info City, Gachibowli, Serilingampally, Hyderabad – 500081,
Telangana, India |
|
Tel. No.: |
91-40-44991000 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Venugopal Ramathilakam |
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Designation : |
Director |
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Address : |
Plot No.13, Road No.5, Jubilee Hills, Hyderbad - 500033, Andhra
Pradesh, India |
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|
Date of Birth/Age : |
25.06.1947 |
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Date of Appointment : |
19.10.2007 |
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DIN No.: |
01823597 |
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Other Directorship:
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|
Name : |
Mr. Ramesh Nanduri |
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Designation : |
Director |
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|
Address : |
F.No.110, 3-5-1083 and 1083/A, Sri Tara Jeet Residency, Narayanguda, Hyderabad
- 500029, Telangana, India |
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|
Date of Birth/Age : |
03.01.1969 |
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Date of Appointment : |
22.11.2013 |
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PAN No.: |
AAMPN0746L |
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DIN No.: |
06377288 |
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Other Directorship:
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|
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|
Name : |
Mr. Anirban Roy |
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Designation : |
Director |
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Address : |
Apartment D 305, Jayabheri Orange County, Nanakram Financial District,
Hyderabad - 500032, Telangana, India |
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Date of Birth/Age : |
18.01.1967 |
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Date of Appointment : |
21.11.2012 |
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PAN No.: |
BEFPR0409N |
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DIN No.: |
06431482 |
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Other Directorship:
|
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KEY EXECUTIVES
|
Name : |
Mr. Srinivas Topella |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
R. Venugopal |
5000 |
0.15 |
|
Venugopal Ramathilakam |
5000 |
0.15 |
|
Kony Solutions, Mauritius |
3336898 |
99.70 |
|
Total |
3346898 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
99.70 |
|
Directors or relatives of Directors |
0.30 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is primarily engaged in the business of
providing software development and support services. |
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|
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|
Products : |
Software development and support services. |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
Software |
|
Countries : |
United States (Parent Company) |
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Imports : |
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Products : |
Systems and Laptops |
|
Countries : |
Singapore |
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Terms : |
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Selling : |
Cash, L/C and Credit |
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Purchasing : |
Cash, L/C and Credit |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
Not Divulged |
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Customers : |
Not Divulged |
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No. of Employees : |
600 (Approximately) |
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Bankers : |
Not Divulged |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
B S R R and Company Chartered Accountants |
|
Address : |
Reliance Humsafar, IV Floor, Road No.11, Banjara Hills, Hyderabad - 500034, Telangana, India |
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PAN No.: |
AAKFB1884H |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding Company : |
· Kony Solutions, Mauritius (Formerly Vision Labs) |
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Ultimate Holding Company : |
· Kony Inc, United States |
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Company
under common control: |
· Kony Marketing Services Private Limited · Kony Solutions Canada Inc. · Kony Solutions B.V., Netherlands · Kony IT Services Private Limited · Sky Technologies Consulting Pty Limited · Sky Technologies Holdings Pty Limited · Sky Technologies Pty Limited · Sky Technologies Americas Inc · Sky Technologies Europe Limited · Kony Services, Inc. · Kony B.V- UK Branch · Kony Singapore Pte Limited |
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|
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|
Entity over which
key management personnel has a significant influence: |
· Kore Software Services Private Limited · Koneru Software Private Limited |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
Rs.10/- each |
Rs.40.000 Millions |
|
1000000 |
Preference Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
Total |
|
Rs.50.000 Millions
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3346898 |
Equity Shares |
Rs.10/- each |
Rs.33.469 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
33.469 |
33.469 |
33.469 |
|
(b) Reserves & Surplus |
860.580 |
603.623 |
365.546 |
|
(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) |
894.049 |
637.092 |
399.015 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
27.949 |
29.247 |
15.363 |
|
Total Non-current Liabilities (3) |
27.949 |
29.247 |
15.363 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
11.626 |
24.190 |
21.161 |
|
(c) Other current
liabilities |
33.518 |
94.409 |
40.053 |
|
(d) Short-term provisions |
36.451 |
31.079 |
10.530 |
|
Total Current Liabilities (4) |
81.595 |
149.678 |
71.744 |
|
|
|
|
|
|
TOTAL |
1,003.593 |
816.017 |
486.122 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
50.181 |
69.386 |
78.970 |
|
(ii) Intangible Assets |
10.051 |
17.884 |
23.232 |
|
(iii) Capital
work-in-progress |
0.000 |
2.936 |
0.000 |
|
(iv) Intangible
assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
11.025 |
7.158 |
2.724 |
|
(d) Long-term Loan and Advances |
130.961 |
110.698 |
79.438 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
202.218 |
208.062 |
184.364 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
743.183 |
535.438 |
257.211 |
|
(d) Cash and cash
equivalents |
29.582 |
30.345 |
19.298 |
|
(e) Short-term loans and
advances |
28.610 |
42.172 |
19.241 |
|
(f) Other current assets |
0.000 |
0.000 |
6.008 |
|
Total Current Assets |
801.375 |
607.955 |
301.758 |
|
|
|
|
|
|
TOTAL |
1,003.593 |
816.017 |
486.122 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
|
TOTAL |
1,629.687 |
1,490.141 |
1,099.379 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
1,341.245 |
1,236.339 |
865.027 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX |
288.442 |
253.802 |
234.352 |
||
|
|
|
|
|
|
||
|
Less |
TAX |
31.486 |
15.725 |
20.553 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX |
256.956 |
238.077 |
213.799 |
||
|
|
|
|
|
|
||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
489.521 |
251.444 |
37.645 |
||
|
|
|
|
|
|
||
|
|
BALANCE CARRIED
TO THE B/S |
746.477 |
489.521 |
251.444 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
Export Earnings |
1590.098 |
1465.273 |
1057.072 |
|
|
|
TOTAL EARNINGS |
1590.098 |
1465.273 |
1057.072 |
||
|
|
|
|
|
|
||
|
|
Earnings /
(Loss) Per Share (Rs.) |
76.77 |
NA |
NA |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
29.06 |
31.49 |
48.48 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.32 |
0.40 |
0.59 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
9.82 |
4.06 |
4.21 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
33.469 |
33.469 |
33.469 |
|
Reserves & Surplus |
365.546 |
603.623 |
860.580 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
399.015 |
637.092 |
894.049 |
|
|
|
|
|
|
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 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Total Income |
1,099.379 |
1,490.141 |
1,629.687 |
|
|
|
35.544 |
9.365 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs. In
Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Total Income |
1,099.379 |
1,490.141 |
1,629.687 |
|
Profit |
213.799 |
238.077 |
256.956 |
|
|
19.45% |
15.98% |
15.77% |
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
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 |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------- |
|
23] |
Banking Details |
No |
|
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 |
No |
CORPORATE
OVERVIEW
The Company was incorporated on 19 October 2007 as a private limited company. It is the subsidiary of Kony Solutions, Mauritius (the holding company) and step down subsidiary of Kony Inc, USA (the ultimate holding Company). The Company is primarily engaged in the business of providing software development and support services to its group companies. On October 1, 2013 the Company has transferred its delivery business to its fellow subsidiary Kony IT Private Limited by way of a slump sale transaction.
OPERATIONS AND
FUTURE OUTLOOK:
The operations of the company during the year were encouraging and better that the previous year. Your company has achieved a turnover of 1590.000 Millions and recorded a growth of 8% over the turnover of corresponding period in the previous year which stood at Rs.1470.000 Millions.
The directors are confident of achieving better results during the current financial year.
NO CHARGES EXIST FOR COMPANY
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
NEWS:
Exclusive: SoftBank Capital invests in Kony; move will boost Kony's
Asia presence
The venture capital arm of
SoftBank Capital will lead the $50 million financing round, Kony's largest to date, with existing and new investors including Insight Venture Partners, Telstra Ventures and Georgian Partners.Founded by Raj Koneru in 2007, Kony generates nearly $100 million of revenue and is on the path to an initial public offering, a source close to the company said on condition of anonymity because the discussions were private.
“We have known of the company for a couple of years, we have been talking with the company more seriously about an investment over the last six or nine months," Steve Murray, a partner at SoftBank Capital, said in a phone interview.
The new financing is expected to allow Kony to get closer to profitability and expand its presence further in Asia, particularly Japan, through SoftBank's connections.
“In Asia we have a very strong business," said John Joyce, Kony's vice chairman and chief financial officer. "With the help of SoftBank we will hopefully expand that. Japan would obviously be one area where Steve and his team will help us with.”
Florida-based Kony calls itself the fastest-growing cloud-based mobile application development platform, helping companies and other clients build apps for smartphones and tablets. It serves 20 million mobile app users across 45 countries each day.
Last year, Kony added 100 new customers including Aetna Inc (AET.N), Anheuser-Busch (ABI.BR), Bayer AG (BAYGn.DE), the Coca-Cola Co (KO.N), Sirius XM (SIRI.O), SunTrust Banks Inc (STI.N) and US Foods Inc.
Kony has spent the last few months building its executive management bench. It appointed Thomas Hogan, former executive vice president of software at Hewlett-Packard Co(HPQ.N), as chief executive officer and Joyce, a former IBM veteran, as its vice chairman and CFO.
SoftBank Capital has been steadily building its startup investment portfolio, which has included companies in industries from social media to online retail.
WIPRO WINS A STRATEGIC TEN YEAR TOTAL OUTSOURCING ENGAGEMENT WITH ATCO
Bangalore, India and Edmonton, Canada - July 18, 2014: Wipro Ltd. (NYSE:WIT), a leading global Information Technology, Consulting and Business Process Services company, today announced that it has entered into a strategic alliance with Alberta-based ATCO Ltd., one of Canada's premier corporations.
As part of this alliance, Wipro will provide total outsourcing solutions to ATCO in Canada and Australia.
Wipro and ATCO have signed a series of Master Services Agreements under which Wipro will provide the complete suite of IT services to ATCO. The arrangement is projected to result in revenues of over CAD 120 million (USD 112 million) to Wipro annually, for the next ten years, up to December 2024.
“This alliance ensures ATCO can focus on growing our core businesses of structures and logistics, utilities, and energy while partnering with Wipro for strategic, innovative IT solutions required to support our global operations,” said Brian Bale, Senior Vice-President & Chief Financial Officer, ATCO. “Wipro’s deep domain capability and technology-leadership will also ensure we continue to deliver cost-effective services to our customers.”
Anand Padmanabhan, Chief Executive - Energy, Natural Resources and Utilities, Wipro said, “We are delighted to collaborate with ATCO in this transformational initiative. Our focus will be to enable ATCO to enhance their competitiveness by deployment of strategic solutions and efficient delivery of IT services. We are confident that our domain expertise combined with the enhanced talent pool will help us support ATCO’s growth. We have traditionally had a strong position in the Utilities space in Europe and this engagement provides momentum to our business in Canada and Australia. The alliance with ATCO enhances our capability to create, nurture and tap local talent to power our growth journey in Canada”.
Wipro’s IT services delivery model will be further strengthened in North America and Australia by ATCO I-Tek, a subsidiary of ATCO with a presence in both these geographies, which will now become a part of Wipro for an all-cash consideration of CAD 210 million (USD 195 million). ATCO I-Tek has been providing IT Services to ATCO for the past 15 years.
The transaction is subject to customary closing conditions.
About Wipro Ltd.
Wipro Limited (NYSE:WIT) is a leading Information Technology, Consulting and
Business Process Services company that delivers solutions to enable its clients
do business better. Wipro delivers winning business outcomes through its deep
industry experience and a 360 degree view of "Business through
Technology" - helping clients create successful and adaptive businesses. A
company recognized globally for its comprehensive portfolio of services, a
practitioner's approach to delivering innovation, and an organization wide
commitment to sustainability, Wipro has a workforce of over 140,000, serving
clients in 175+ cities across 6 continents.
About ATCO
ATCO Limited, with more than 9,800 employees and assets of approximately CAD 16
billion, delivers service excellence and innovative business solutions
worldwide with leading companies engaged in Structures & Logistics
(manufacturing, logistics and noise abatement), Utilities (pipelines,
natural gas and electricity transmission and distribution), Energy (power generation,
natural gas gathering, processing, storage and liquids extraction) and
Technologies (business systems solutions)
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.61.89 |
|
|
1 |
Rs.96.83 |
|
Euro |
1 |
Rs.76.57 |
INFORMATION DETAILS
|
Information Gathered
by : |
HTL |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO
|
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
50 |
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.