MIRA INFORM REPORT

 

 

Report Date :

23.12.2014

 

IDENTIFICATION DETAILS

 

Name :

AVERY DENNISON (INDIA) PRIVATE LIMITED

 

 

Registered Office :

A-38, Kailash Colony, New Delhi – 110 048

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

08.12.1995

 

 

Com. Reg. No.:

55-074475

 

 

Capital Investment / Paid-up Capital :

Rs.476.507 Millions

 

 

CIN No.:

[Company Identification No.]

U74899DL1995PTC074475

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

DELA05957A

 

 

PAN No.:

[Permanent Account No.]

AAACA6163D

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacture and trading of self-adhesive paper, films and labels.

 

 

No. of Employees :

Information denied by management

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (35)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 4700000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having moderate track record.

 

Company has incurred loss from its operation in the year 2014.

 

However, trade relations are fair. Business is active. Payment terms are slow but correct.

 

The company 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

 

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

 

Rating Agency Name

Not Available

Rating

Not Available

Rating Explanation

Not Available

Date

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 DECLINED BY

 

Name :

Mr. Pruthviraj

Designation :

Sales Department

Contact No.:

91-80-67744400

 

 

LOCATIONS

 

Registered Office :

A-38, Kailash Colony, New Delhi – 110048, India

Tel No.:         

Not Available

Mobile No.:

91-9920869666 (Mr. Parag)

91-9871008251 (Mr. Mahijit Pal)

91-9871998060 (Mr. Manish)

Fax No.:

Not Available

E-Mail :

muralie.ks@ap.averydennison.com

sk.nema@ap.averydennison.com

shukla@ap.averydennsion.com

parag.bagade@ap.averydennison.com

Website :

www.averydennison.com

 

 

Corporate Office 1 :

421/422, Shrikant Chambers, Sion Trombey Road, Next to R.K. Studio, Chembur,  Mumbai – 400071, Maharashtra, India

Tel No.:

91-22-67554625 / 31080968 / 67554626

Fax No.:

91-22-67554623

 

 

Corporate Office 2 / Factory:

Narsinghpur Industrial Area, 6 Kilometer Stone, Delhi-Jaipur Highway, Gurgaon – 122001, Haryana, India

Tel. No.:

91-124-4351200/ 2215581/ 582/ 583

Fax No.:

91-124-2215591/ 592

Area :

6 Acres

Location :

Industrial

 

 

Head Office 1 :

204-206, Tolstoy House, 15 Tolstoy Marg, Connaught Place, New Delhi – 110001, India

Tel. No.:

91-11-23714408/ 10

E-Mail :

kapil.anand@ap.averydennison.com

ravindersingh@averydennison.com

Area :

2350 sq. ft.

Location :

Leased

 

 

Head Office 2 :

Plot No.6B, Kiadbi Industrial Area, Peenya, 1st Phase, Bangalore – 560058, Karnataka, India

Tel No.:

91-80-41370400

 

 

Branch Office :

90/91, 7th Main Road, III Phase, Peenya Industrial Area, Bangalore – 560058, Karnataka, India 

Tel No.:

91-80-41370400

Fax No.:

91-80-41370600

 

 

DIRECTORS

 

Name :

Mr. Anil Kumar Sharma

Designation :

Whole-Time Director

Address :

MF 11, Eldeco Mansionz, RWA, Sohna Road, Gurgaon – 122001, Haryana, India

Date of Birth/ Age :

06.10.1969

Qualification :

B.E. / B. Tech., MBA

Date of Appointment:

10.02.2011

PAN No.:

ABAPS0242D

DIN No.:

03161485

Other Directorship:

S.

No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U74899DL1995PTC074475

AVERY DENNISON (INDIA) PRIVATE LIMITED

Whole-time director

10/02/2011

08/09/2010

-

Active

NO

 

 

Name :

Mr. Rishi Pardal

Designation :

Whole-Time Director

Address :

6A, 6th Floor, Lords Apartment, 94 Satyadev Avenue, MRC Nagar, R.A. Puram, Chennai – 600028, Tamilnadu, India

Date of Birth/ Age :

16.05.1973

Qualification :

Mgmt. Degree from IIIT

Date of Appointment :

01.01.2011

PAN No.:

AIFPP2134F

DIN No.:

02470061

Other Directorship:

S.

No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U24246TN1981PLC008785

PONDS EXPORTS LIMITED

Director

17/06/2009

27/01/2009

22/03/2010

Active

NO

2

U29253MH2009PTC194394

Vitalink Technologies Private Limited

Director

28/07/2009

28/07/2009

-

Active

NO

3

U74899DL1995PTC074475

AVERY DENNISON (INDIA) PRIVATE LIMITED

Whole-time director

01/01/2011

01/01/2011

-

Active

NO

 

 

Name :

Mr. Satish Subramanian

Designation :

Director

Address :

B-403, Salapuria Splendor, 20 Near Colony, Off Old Airport Road, Bangalore – 560017, Karnataka, India

Date of Birth/ Age :

20.12.1970

Qualification :

B.Com. (Hons), MBA

Date of Appointment :

30.09.2011

PAN No.:

AJPPS8117G

DIN No.:

03630845

Other Directorship:

S.

No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U74899DL1995PTC074475

AVERY DENNISON (INDIA) PRIVATE LIMITED

Director

30/09/2011

27/09/2011

-

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Komandur Sanathana Krishnan Muralie

Designation :

Secretary

Address :

D/3, 3072, Vasant Kunj, New Delhi – 110070, India

Date of Birth/Age :

20.05.1966

Qualification :

B.Com., AICWA, ACA, ACS

Date of Appointment :

03.03.2000

PAN No. :

ABDPM0006G

 

 

Name :

Mr. Pruthviraj

Designation :

Sales Department

 

 

 

MAJOR SHAREHOLDERS

 

As on 09.08.2014

 

Names of Shareholders

 

No. of Shares

Avery Dennison Corporation, USA

 

21474466

Avery Pacific LLC, USA

 

216949

Avery Dennison Central Europe GmbH, Germany

 

10400000

Paxar B V, The Netherlands 

 

10400000

RVL Packaging Far East Limited, Hong Kong

 

5159245

Total

 

47650660

 

Equity Share Break up (Percentage of Total Equity)

 

As on 09.08.2014

 

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

100.00

Total

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacture and trading of self-adhesive paper, films and labels.

 

 

Products :

Product Description

Item Code No.

Self-Adhesive Paper

48114100

Self-Adhesive Film

39199090

Paper Tag

48211010

Paper Label

48211020

Plastic Stickers

39262039

Printed Fabric Labels

58071090

Heat Transfer

49089000

Woven Labels

42050090

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS (As on 31.03.2011):

 

Details of production

 

U.O.M

 

For the year ended 31.3.2011

I- Paper and Films
 

 

Installed Capacity (Annual)

Sq. mtrs.

203,600,000

Actual Production

 

 

1.Self Adhesive Paper

Sq. mtrs.

131,391,593

2.Self Adhesive Film

Sq. mtrs.

26,718,786

II- Woven Labels

 

 

Installed Capacity (Annual)

Numbers (Nos.)

312,000,000

Actual Production

Numbers (Nos.)

272,049,061

III. Hand Tags

 

 

Installed Capacity (Annual)

Numbers (Nos.)

1,855,024,000

Actual Production

Numbers (Nos.)

827,262,923

IV. Printed labels

 

 

Installed Capacity (Annual)

Numbers (Nos.)

463,000,000

Actual Production

Numbers (Nos.)

468,620,369

V. Heat Transfer

 

 

Installed Capacity (Annual)

Numbers (Nos.)

202,800,000

Actual Production

Numbers (Nos.)

195,338,684

 

Note:

The installed capacities, being a technical matter, are certified by management and have been relied upon by the auditors *

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

No. of Employees :

Information denied by management

 

 

Bankers :
  • American Express Bank Limited
  • Deutsche Bank, Tolstoy House, New Delhi, India

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

BSR and Company

Chartered Accountants

Address :

Delhi, India

PAN No.:

AAAFB9852F

 

 

Ultimate Holding Company:

  • Avery Dennison Corporation

 

 

Subsidiaries of ultimate holding company:
  • Avery Corp.
  • Avery Dennison R.I.S. Italia S.R.L.
  • Avery Dennison (China) Company Limited
  • Avery Dennison Retail Information Services (pty) Limited
  • Avery Dennison (Guangzhou) Company Limited
  • Avery Dennison Retail Information Services Honduras, S. De R.L.
  • Avery Dennison (Hong Kong) Limited
  • Avery Dennison Retail Information Services LLC
  • Avery Dennison (Kunshan) Company Limited
  • Avery Dennison Retail Information Services UK Limited
  • Avery Dennison (Malaysia) Sdn. Bhd.
  • Avery Dennison RFID Company
  • Avery Dennison (Suzhou) Company Limited
  • Avery Dennison R.I.S Iberia SL
  • Avery Dennison (Thailand) Limited
  • Avery Dennison R.I.S Taiwan Limited
  • Avery Dennison Belgie Bvba
  • Avery Dennison R.I.S Vietnam Company Limited
  • Avery Dennison Benelux Bvba
  • Avery Dennison Scandinavia Ab
  • Avery Dennison Bulgaria Eood
  • Avery Dennison Singapore (pte) Limited
  • Avery Dennison BV
  • Avery Dennison South Africa (Proprietary) Limited
  • Avery Dennison Central Europe Gmbh
  • Avery Dennison Tekstil Urunleri Sanayi Ve Ticaret Limited Sirketi
  • Avery Dennison Colombia S. A.
  • Collitex S.R.L. (Former Astria S.R.L.)
  • Avery Dennison (India) Private Limited Standalone Balance Sheet for period 01/04/2013 to 31/03/2014
  • Avery Dennison Deutschland Gmbh
  • Dennison Manufacturing Company
  • Avery Dennison Do Brasil Limiteda.
  • P. T. Paxar Indonesia
  • Avery Dennison Egypt LLC
  • Paxar (China) Limited
  • Avery Dennison Etiket Ticaret Limited Sirketi
  • Aaxar Bangladesh Limited
  • Avery Dennison Finance Germany Gmbh
  • Paxar Far East Limited
  • Avery Dennison France S.A.S.
  • Paxar Pakistan (Private) Limited
  • Avery Dennison Group Singapore (pte) Limited
  • PT Avery Dennison Indonesia
  • Avery Dennison Gulf Fzco
  • Su Zhou Feng Yi Heng Ye Dye Company Limited.
  • Avery Dennison Hong Kong B.V.
  • Avery Dennison (Vietnam) Limited
  • Avery Dennison Korea Limited
  • Avery Dennison Australia pty Limited
  • Avery Dennison Lanka (Private) Limited
  • Avery Dennison Do Brasil LTDA
  • Avery Dennison Mauritius Limited
  • PT Avery Dennison Packaging Indonesia
  • Avery Dennison Ntp A. S.
  • Avery Dennison Peru S.R. L.
  • Avery Dennison R.I.S. France S. A. S.
  • Avery Dennison R.I.S. Iberia S.L.

 

 

CAPITAL STRUCTURE

 

As on 09.08.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

47650660

Equity Shares

Rs.10/- each

Rs.476.507 Millions

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

47650660

Equity Shares

Rs.10/- each

Rs.476.507 Millions

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2014

31.03.2012

31.03.2011

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

476.507

476.507

476.507

(b) Reserves & Surplus

704.501

708.232

856.745

(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)

1,181.008

1,184.739

1,333.252

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.000

0.000

11.628

(b) Deferred tax liabilities (Net)

7.836

20.137

0.000

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

47.251

42.864

34.509

Total Non-current Liabilities (3)

55.087

63.001

46.137

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

3,457.592

2,576.654

1,951.284

(b) Trade payables

2,063.695

1,631.819

1,758.893

(c) Other current liabilities

223.385

152.256

121.714

(d) Short-term provisions

29.448

20.710

14.891

Total Current Liabilities (4)

5,774.120

4,381.439

3,846.782

 

 

 

 

TOTAL

7,010.215

5,629.179

5,226.171

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

1,685.560

1,819.478

1,861.755

(ii) Intangible Assets

14.150

12.000

3.892

(iii) Capital work-in-progress

737.725

11.578

47.780

(iv) Intangible assets under development

0.000

0.000

1.068

(b) Non-current Investments

0.000

0.000

0.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

305.017

213.129

205.387

(e) Other Non-current assets

1.261

1.237

4.844

Total Non-Current Assets

2,743.713

2,057.422

2,124.726

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

1,353.141

1,117.194

1,001.104

(c) Trade receivables

2,580.217

2,118.354

1,711.985

(d) Cash and cash equivalents

68.725

59.648

59.783

(e) Short-term loans and advances

264.419

276.561

298.013

(f) Other current assets

0.000

0.000

0.560

Total Current Assets

4,266.502

3,571.757

3,071.445

 

 

 

 

TOTAL

7,010.215

5,629.179

5,196.171

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2012

31.03.2011

 

 

 

 

 

 

PROFIT/(LOSS) FOR THE YEAR

(1.659)

(116.441)

(21.957)

 

 

 

 

 

 

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

576.973

693.414

715.371

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

575.314

576.973

693.414

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

NA

1333.100

825.800

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

(0.03)

(2.44)

(0.46)

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2012

31.03.2011

Debt Equity Ratio

(Total Debt /Networth)

 

2.93

2.17

1.47

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.74

0.82

0.80

 

 

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

476.507

476.507

476.507

Reserves & Surplus

856.745

708.232

704.501

Net worth

1333.252

1184.739

1181.008

 

 

 

 

long-term borrowings

11.628

0.000

0.000

Short term borrowings

1951.284

2576.654

3457.592

Total borrowings

1962.912

2576.654

3457.592

Debt/Equity ratio

1.472

2.175

2.928

 

 

 

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

No

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

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

 

UNSECURED LOANS:

 

Particulars

31.03.2014

Rs. In Millions

31.03.2013

Rs. In Millions

SHORT TERM BORROWINGS

 

 

Loans repayable on demand

 

 

Overdraft facilities from banks

1677.592

1226.654

Working capital facilities from Bank

1780.000

1350.000

Total

3457.592

2576.654

 

Notes:

 

Overdraft facilities from banks carry interest ranging between 11%-13.5% p.a., computed on a daily basis on the actual amount utilized and are repayable on demand. These are covered by the corporate guarantee provided by Avery Dennison Corporation, USA.

 

Working Capital facilities from banks carry interest ranging between 9%-11.75% p.a., computed on a monthly basis on the actual amount utilized. These are covered by the corporate guarantee provided by Avery Dennison Corporation, USA.

 

 

COMPANY OVERVIEW

 

The Company is a private limited company incorporated under the Companies Act, 1956. The Company is a downstream subsidiary of Avery Dennison Corporation USA. The Company is primarily engaged in manufacture and trading of self-adhesive paper, films and labels. The Company caters to both domestic and international markets.

 

INDEX OF CHARGE:

 

Sr. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

90194318

29/08/2001 *

11,500,000.00

The Bank Of Novascotia

Banglore Branch; M G Road, Banglore, Karnataka - 560001, India

-

2

90194273

07/06/2002 *

11,500,000.00

State Bank Of India

Indusrial Finance Branch, Residency Road, Banglore, Karnataka - 560025, India

-

*Date of modification Charges

 

 

FIXED ASSETS:

 

·         Land

·         Building

·         Plant and Machinery

·         Computer

·         Vehicles

·         Furniture and Fixture

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.63.18

UK Pound

1

Rs.97.85

Euro

1

Rs.77.42

 

 

INFORMATION DETAILS

 

Information Gathered by :

DIP

 

 

Analysis Done by :

SUM

 

 

Report Prepared by :

KVT

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILIRY

1~10

3

--LIQUIDITY

1~10

4

--LEVERAGE

1~10

4

--RESERVES

1~10

4

--CREDIT LINES

1~10

4

--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

 

35

 

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

 

 

 

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.