|
Report Date : |
05.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Registered
Office : |
802/803, The Corporate Centre, Nirmal Life Style, LBS Marg, Mulund
(West), Mumbai-400080, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
03.02.1981 |
|
|
|
|
Com. Reg. No.: |
11-023801 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 5.800
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24100MH1981PLC023801 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA20605E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCA1110H |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Agricultural Chemicals, Insecticides and
Pesticides. |
|
|
|
|
No. of Employees
: |
55 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 150000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record. Profitability of the company seems to be fair. Trade relation are fair. Business is active. Payment are reported to
be usually correct. The company can be considered for business dealings at usual trade
terms and condition. |
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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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
The services sector, the largest contributor to India’s GDP, contracted
for the sixth consecutive month in December, as orders dipped. However, hiring
has risen. Direct tax collections rose 12.3 % during the April – December
period of the current financial year. The government has decided to
retain 100 per cent foreign direct investment in both greenfield (new) and
brown field (existing) pharmaceutical companies, despite concerns over genetic
drugs going out of production, if multi-national companies take over domestic
ones. In M&A deals, a non compete clause would not be allowed, except in
special circumstances. The Department of Industrial Policy and Promotion plans
to release the next edition of its consolidated foreign direct investment
policy document on March 31, incorporating changes made in the past year. DIPP
compiles all policies related to India’s FDI regime into a single document to
make it easy for investors to understand. 185 million estimated number of
mobile internet users in India by June 2014, according to a report by the
Internet & Mobile Association of India and IMRB International. India
had 110 million mobile internet users with 25 million in rural areas. $3.77 tn
estimated global IT spending in 2014, according to research firm Gartner Inc.
The growth forecast for this year is cut to 3.1 %from the earlier estimate of
3.5 %. The spending growth forecast for telecom services – a segment that
accounts for more than 40 % at total IT spending – from 1.9 per cent to 1.2 per
cent is the main reason for this overall IT cut. A Reserve Bank of India
committee has recommended setting up a special category of lenders who would
cater to small businesses and households, to expand the number of customers
with access to banking services. These banks would focus onproviding payment
services and deposit products. Indian banks want the free use of
automated teller machines to be capped at five transactions in a month
including that of the bank in which the account is active. This follows state
government order to banks to install security guards at ATM booths after a
woman banker was assaulted in Bangalore. The government is likely to present a
vote on Account in mid-February. The annual Economic Survey will be tabled
later in Parliament along with the full Budget. A full Budget for 2014/15 is
likely to be present in July by the new government formed after the General
Election. The government will soon launch an internet spy system, called Netra,
to detect malafide messages. Security agency will deploy the system to capture
dubious voice traffic on applications such as Skype and Google Talk, as well as
tweeters.
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
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Shailesh |
|
Designation : |
Sales Manager |
|
Contact No.: |
91-9769193622 |
|
Date : |
29.01.2014 |
LOCATIONS
|
Registered Office : |
802/803, The Corporate Centre, Nirmal Life Style, LBS Marg, Mulund
(West), Mumbai-400080, Maharashtra, India |
|
Tel. No.: |
91-22-25924782 |
|
Mobile No.: |
91-9769193622 (Mr. Shailesh) |
|
Fax No.: |
91-22-25924781 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
A-15/18, Old MIDC Area, Seoni, Akola-444104, Maharashtra, India |
|
Tel No.: |
91-724-2258160 |
|
Location : |
Owned |
DIRECTORS
As On 30.09.2013
|
Name : |
Mr. Vijay Dilbagh Rai |
|
Designation : |
Director |
|
Address : |
68, Dolphin, Pilot Bunder Road, Colaba, Mumbai-400005, Maharashtra,
India |
|
Date of Appointment : |
23.03.2005 |
|
Din No: |
00075837 |
|
|
|
|
Name : |
Mr. Rajesh Kumar Agarwal |
|
Designation : |
Director |
|
Address : |
Agarwal House, Madnani Lane, Club Road, Mithanpura, Ramna,
Muzaffarpur-842001, Bihar, India |
|
Date of Appointment : |
14.03.2005 |
|
Din No: |
00210719 |
|
|
|
|
Name : |
Mr. Atul Churiwal |
|
Designation : |
Director |
|
Address : |
4, National Library Avenue, Alipore, Kolkata-700027, West Bengal,
India |
|
Date of Appointment : |
14.03.2005 |
|
Din No: |
00180595 |
|
|
|
|
Name : |
Ms. Priyanka Vijay Rai |
|
Designation : |
Director |
|
Address : |
Flat No. 40, Shirin Building, Daulat Shiran CHS, Limited, 31, Colaba
Road, Mumbai-400005, Maharashtra, India |
|
Date of Appointment : |
29.03.2006 |
|
Din No: |
02673947 |
|
|
|
|
Name : |
Mr. Karan Vijay Rai |
|
Designation : |
Director |
|
Address : |
Flat No. 40, Shirin Building, Daulat Shiran CHS, Limited, 31, Colaba
Road, Mumbai-400005, Maharashtra, India |
|
Date of Birth/Age : |
10.10.1981 |
|
Date of Appointment : |
15.03.2011 |
|
Din No: |
03438712 |
|
|
|
|
|
|
|
Name : |
Mr. Abdulrahim Abdulla Alkhaja |
|
Designation : |
Additional Director |
|
Address : |
C/O Alkhaja Pimex, Post Office Box 11179, Dubai, UAE – 11179, United
Arab Emirates |
|
Date of Appointment : |
30.09.2013 |
|
Din No: |
03288867 |
|
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 |
U51909MH2011PTC221827 |
PIMEX INDIA
PRIVATE LIMITED |
Managing
director |
01/10/2011 |
10/09/2011 |
- |
Active |
NO |
|
2 |
U24100MH1981PLC023801 |
AKOLA CHEMICALS
(INDIA) LIMITED |
Director |
30/09/2013 |
03/04/2013 |
- |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Shailesh |
|
Designation : |
Sales Manager |
MAJOR SHAREHOLDERS
As On 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
A.S.N. Vadoliwala and Mrs. Roshan Vadoliwala |
3500 |
|
Hanuwant Rai Verma |
666 |
|
Ranjit Kumar Chowdhury |
2767 |
|
Rajendra G. Rathi |
160 |
|
Anu P. Mahajan |
6600 |
|
Parvez K. Dubash |
4000 |
|
Rekha S. Agarwal |
6424 |
|
Parul |
1107 |
|
Gagan |
2767 |
|
Nasiruddin K. Gangani |
3000 |
|
Akhtar K. Gangani |
4000 |
|
Priyanka Rai |
37840 |
|
Pashupatendva Singh |
1000 |
|
Kamla Devendra Jain |
1000 |
|
Nayak Chand |
830 |
|
Ritu Sharma |
830 |
|
Pradhakar B. Vichare |
500 |
As On 30.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
2.90 |
|
Bodies corporate (not Mentioned
above) |
38.19 |
|
Directors
or relatives of directors |
36.35 |
|
Other
top fifty shareholders |
22.56 |
|
|
|
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Agricultural Chemicals, Insecticides and
Pesticides. |
|
|
|
|
Exports : |
|
|
Products : |
Protein Hydrolysate |
|
Countries : |
Middle East |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (30 Days) |
|
|
|
|
Purchasing : |
Cash and Credit (30 Days) |
GENERAL INFORMATION
|
No. of Employees : |
55 (Approximately) |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
K.J. Sheth and Associates Chartered Accountants |
|
Address : |
2nd Floor, Seksaria Chambers, 139, N.M. Road, Fort,
Mumbai-400023, Maharashtra, India |
|
Tel. No.: |
91-22-22671618 |
|
E-Mail : |
|
|
Pan No.: |
AAKPS1414Q |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued and Subscribed Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
700000 |
Equity Shares |
Rs.10/- each |
Rs. 7.000
Millions |
|
|
|
|
|
Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
700000 |
Equity Shares |
Rs.10/- each |
Rs.7.000
Millions |
|
|
Less : Calls in arrears |
|
Rs. (1.200)
Millions |
|
|
Total |
|
Rs.5.800 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
5.800 |
5.800 |
5.000 |
|
(b) Reserves & Surplus |
28.406 |
25.983 |
19.212 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
1.200 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
35.406 |
31.783 |
24.212 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
11.978 |
8.282 |
9.331 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
11.978 |
8.282 |
9.331 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
15.272 |
10.640 |
14.181 |
|
(b) Trade
payables |
11.607 |
17.609 |
22.325 |
|
(c) Other
current liabilities |
0.545 |
0.574 |
2.169 |
|
(d) Short-term provisions |
1.899 |
1.890 |
2.332 |
|
Total Current
Liabilities (4) |
29.323 |
30.713 |
41.007 |
|
|
|
|
|
|
TOTAL |
76.707 |
70.778 |
74.550 |
|
|
|
|
|
|
I.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
24.353 |
15.418 |
16.338 |
|
(ii)
Intangible Assets |
0.750 |
0.750 |
0.750 |
|
(iii)
Capital work-in-progress |
0.000 |
4.989 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.164 |
0.164 |
0.164 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.406 |
0.406 |
0.171 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
25.673 |
21.727 |
17.423 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
26.169 |
20.728 |
22.584 |
|
(c) Trade
receivables |
19.151 |
24.475 |
27.032 |
|
(d) Cash
and cash equivalents |
1.028 |
1.501 |
2.004 |
|
(e)
Short-term loans and advances |
4.686 |
2.347 |
5.507 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
51.034 |
49.051 |
57.127 |
|
|
|
|
|
|
TOTAL |
76.707 |
70.778 |
74.550 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
66.299 |
59.565 |
71.017 |
|
|
|
Other Income |
0.029 |
0.016 |
0.008 |
|
|
|
TOTAL (A) |
66.328 |
59.581 |
71.025 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of material consumed |
31.247 |
20.761 |
29.803 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock
in trade |
(3.993) |
3.788 |
4.839 |
|
|
|
Employee benefit expense |
13.981 |
10.461 |
11.048 |
|
|
|
Other expenses |
16.971 |
16.127 |
18.039 |
|
|
|
TOTAL (B) |
58.206 |
51.137 |
63.729 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
8.122 |
8.444 |
7.296 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2.650 |
2.095 |
2.922 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
5.472 |
6.349 |
4.374 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.949 |
2.096 |
2.407 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2.523 |
4.253 |
1.967 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
3.182 |
(0.005) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
2.523 |
1.071 |
1.972 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.60 |
1.53 |
2.82 |
|
Expected Sales (2013-2014): Rs.80.000 Millions
The above information has been parted by – Mr. Shailesh Thoral (Sales
Manager)
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
3.80
|
1.80
|
2.78 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.80
|
7.14
|
2.77 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.29
|
6.48
|
2.64 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.13
|
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.76
|
0.60
|
0.97 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.74
|
1.59
|
1.39 |
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
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 |
Yes |
|
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 |
No |
|
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
|
Particulars |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWING |
|
|
|
Loans and Advance From Related Parties |
0.536 |
0.836 |
|
|
|
|
|
Total |
0.536 |
0.836 |
LTIGATION DETALIS
Case
Details
Bench:-
Bombay
Presentation
Date :- 06.05.2013
|
Lodging No.:-
CPL/287/2013 |
Filing Date:-
06.05.2013 |
Reg. No.:-
CP/452/2013 |
Reg. Date: -
08.08.2013 |
|
|
|
|
|
|
Petitioner:- M/S.
Mithun Traders Through Its Sole |
Respondent:- M/S
Akola Chemicals (India) Limited |
||
|
Petn.Adv.:- Shri
L.G. Waingankar() |
Resp.Adv.:- Benny Joseph Law Offices (U/OBJ)
(FOF) |
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District:- Mumbai |
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Bench :- Single |
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Status:- Pre-Admission |
Category:- Company Petition U/SEC 433,434,439
Companies Act |
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Next Date:- 05.02.2014 |
Stage:- Company Petition for Admission |
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Coram:- Hon’ble
Shri Justice G.S. Patel |
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Last Date – 28.11.2013 |
Stage:- Company Petition for Admission |
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Last Coram:- Hon’ble
Shri Justice N.M. Jamdar |
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Act:- Companies
Act and Rules 1956 |
Under Section:- 433(E)
and 434 1(A) and 439 (1)(B) |
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VIEW INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10092450 |
28/03/2012 * |
28,000,000.00 |
STATE BANK OF
INDIA |
DIAMOND GARDEN
BRANCH, BAHRI RESIDENCY, SION TROM |
B37733524 |
*
Date of charge modification.
BUSINESS OPERATION
AND PERFORMANCE
The company has now headed towards recovery. The sales have increased from
59.000 Millions to 66.000 Millions as, withdrew from pesticides retail – a
losing business. Focused on n=manufacturer of protein Hydrolysate which
provided more certainty in terms of margine and recovery. There was also a
growth in their toll manufacturing activity, which also holds promise in the
future.
There was another change, an investor Pimex India Private Limited
subscribed to a forfeited equity shares issue. This fund allowed to expand the
manufacturing capacity by installing a new spray drier. This capacity will help
to grow in profitable Protein business in the coming years.
FIXED ASSETS:
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.62.68 |
|
|
1 |
Rs.101.97 |
|
Euro |
1 |
Rs.84.78 |
INFORMATION DETAILS
|
Information
Gathered by : |
SLS |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
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DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
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--EPF |
YES/NO |
NO |
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TOTAL |
|
45 |
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.