MIRA
INFORM REPORT
|
Report Date : |
06.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
TURAKHIA OVERSEAS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 317-325, Post Hajipur, |
|
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|
Country : |
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|
|
Financials (as
on) : |
31.03.2013 |
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|
|
|
Date of
Incorporation : |
17.09.1993 |
|
|
|
|
Com. Reg. No.: |
04-020217 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.7.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51909GJ1993PTC020217 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMT00070A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT5636N |
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|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of Veneers Panels and Plywood. |
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|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 831400 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having satisfactory track record. Management has seen dip in its sales revenue during 2013. However the
networth appears to be decent. Trade relations are fair. Business is active. Payment terms are
reported as usually correct. The company can be considered 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.
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 DENIED
Management Non Co-Operative (91-22-25114285)
LOCATIONS
|
Registered Office/ Factory : |
Plot No. 317-325, Post Hajipur, Karoli Village, Taluka Kalol, District
Gandhinagar, Kalol – 382721, Gujarat, India |
|
Tel. No.: |
91-2764-286520/ 281284/ 281285 |
|
Fax No.: |
91-2764-281286/ 286061 |
|
E-Mail : |
|
|
Website : |
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|
Area : |
20000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
307, Traffic Lite, 3rd Floor, M.G. Road, Ghatkopar (West), Mumbai – 400086, Maharashtra, India |
|
Tel. No.: |
91-22-25114285 |
|
E-Mail : |
DIRECTORS
As on: 16.09.2013
|
Name : |
Mr. Dhimant Hiralal Turakhia |
|
Designation : |
Whole-Time Director |
|
Address : |
702, 7th Floor, Plot No.199, Parnakutir Co-Operative
Housing Society Limited, Ghatkopar (East), Mumbai – 400077, Maharashtra,
India |
|
Date of Birth/Age : |
07.07.1952 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
17.09.1993 |
|
DIN No.: |
00481848 |
|
|
|
|
Name : |
Mr. Hemal Punamchand Turakhia |
|
Designation : |
Whole-Time Director |
|
Address : |
B/203, Pushpavan Apartment, Opposite Rudhir Blow, Behind Grand
Bhagvati, Bodakdev, Ahmedabad – 380054, Gujarat, India |
|
Date of Birth/Age : |
16.03.1973 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
03.10.1995 |
|
DIN No.: |
00481788 |
|
|
|
|
Name : |
Mr. Chintan Punamchand Turakhia |
|
Designation : |
Whole-Time Director |
|
Address : |
2, Nilkanth Darshan, 60 Feet Road, Ghatkopar (East), Mumbai – 400077,
Maharashtra, India |
|
Date of Birth/Age : |
06.06.1980 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
15.11.2000 |
|
DIN No.: |
00481719 |
|
|
|
|
Name : |
Mr. Arpan Dhimantbhai Turakhia |
|
Designation : |
Whole-Time Director |
|
Address : |
3, Nilkanth Kiran, 2/SJ Garodia Nagar, Rajawad, Mumbai – 400077, |
|
Date of Birth/Age : |
26.09.1980 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
01.07.2005 |
|
DIN No.: |
00481681 |
|
|
|
|
Name : |
Mr. Amish Dhimantbhai Turakhia |
|
Designation : |
Whole-Time Director |
|
Address : |
B/203, Pushpavan Apartment, Opposite Rudhir Blow, Behind Grand
Bhagvati, Bodakdev, Ahmedabad – 380054, Gujarat, India |
|
Date of Birth/Age : |
17.03.1983 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
20.12.2006 |
|
DIN No.: |
01121028 |
KEY EXECUTIVES
|
Name : |
Ashok P. Pathak and Company |
|
Designation : |
Company Secretaries |
|
Address : |
U-4, Trupti Complex. Opposite Shreel Petrol Pump, Jivrajpark, Ahmedabad – 380051, Gujarat, India |
|
Tel. No.: |
91-79-26631534 |
|
Mobile No.: |
91-9327002122 |
|
E-Mail: |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 16.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Shardaben Hiralal Turakhia |
|
2800 |
|
Punamchand Hiralal Turakhia |
|
35000 |
|
Vasumatiben Punamchand Turakhia |
|
23400 |
|
Punamchand Hiralal Turakhia HUF |
|
46800 |
|
Hemal Punamchand Turakhia |
|
62800 |
|
Deepaben Hemalkumar Turakhia |
|
34000 |
|
Chintan Punamchand Turakhia |
|
136600 |
|
Dhimant Hiralal Turakhia |
|
44000 |
|
Smitaben Dhimantbhai Turakhia |
|
24000 |
|
Dhimantbhai Hiralal Turakhia HUF |
|
28600 |
|
Arpan Dhimant Turakhia |
|
116000 |
|
Amish Dhimantbhai Turakhia |
|
116600 |
|
lshita Dhimantbhai Turakhia |
|
29200 |
|
Amiben Bhargavbhai Shah |
|
200 |
|
|
|
|
|
Total |
|
700000 |
Equity Share Break up (Percentage of Total Equity)
As on: 16.09.2013
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Veneers Panels and Plywood. |
PRODUCTION STATUS (As on: 31.03.2012)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Ply and Decorative Ply |
Sq Mtr |
NA |
816000 |
684494 |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|||||||||||||||||||||||||||||||||
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Bankers : |
The Kalupur Commercial Co-Operative Bank Limited, Kalupur Bank Bhavan, Ashram Road, Ahmedabad - 380014, Gujarat, India |
|||||||||||||||||||||||||||||||||
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Facilities : |
(Rs.
In Millions)
Notes: The Company has Enhanced Cash Credit Facility from The Kalupur Commercial Co-Operative Bank Limited for Rs 20.000 Millions to Rs 40.000 Millions for the Purpose of Working Capital with a Margin of 50% of value of Machinery and 30% of Stock in Hand and Receivable. The Said Security is Secured by Hypothecation of Machinery and Current Assets of the Company, Both Present and Future. Moreover the Company has given Personal Guarentee of Directors and Building Property as collateral security situated at Plot No. 317-325, Nr. Jalaram Ceramic, At Karoli, Post. - Hajipur, Taluka Karoli, District- Gandhinagar. The Company has taken term loan and the said facility has been obtained against factory building. Repayment Tenure is 60 months. |
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Banking
Relations : |
-- |
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|
Auditors : |
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|
Name : |
Kaushik Jayendra and Company Chartered Accountants |
|
Address : |
A-58, Nobels, 4th Floor, |
|
Tel. No.: |
91-79-26589123/ 26589917 |
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E-Mail : |
|
|
PAN No.: |
ABCPP2572P |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
999000 |
Equity Shares |
Rs.10/- each |
Rs.9.990 Millions |
|
1000 |
Preference Shares |
Rs.10/- each |
Rs.0.010 Million |
|
|
|
|
|
|
|
Total |
|
Rs.10.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
700000 |
Equity Shares |
Rs.10/- each |
Rs.7.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
7.000 |
7.000 |
7.000 |
|
(b) Reserves & Surplus |
200.850 |
162.370 |
119.757 |
|
(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) |
207.850 |
169.370 |
126.757 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
38.115 |
42.367 |
51.871 |
|
(b) Deferred tax liabilities (Net) |
1.407 |
1.877 |
1.854 |
|
(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) |
39.522 |
44.244 |
53.725 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
62.833 |
83.433 |
62.089 |
|
(b) Trade payables |
12.756 |
6.229 |
15.079 |
|
(c) Other current liabilities |
17.382 |
15.719 |
27.649 |
|
(d) Short-term provisions |
20.361 |
8.143 |
6.041 |
|
Total Current
Liabilities (4) |
113.332 |
113.524 |
110.858 |
|
|
|
|
|
|
TOTAL |
360.704 |
327.138 |
291.340 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
69.086 |
73.766 |
75.979 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.426 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
3.660 |
3.660 |
3.650 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
72.293 |
54.207 |
2.694 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
145.039 |
131.633 |
82.749 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
10.000 |
0.000 |
|
(b) Inventories |
110.366 |
94.230 |
140.813 |
|
(c) Trade receivables |
70.031 |
58.820 |
53.729 |
|
(d) Cash and cash equivalents |
29.137 |
27.552 |
11.898 |
|
(e) Short-term loans and advances |
5.970 |
4.729 |
1.956 |
|
(f) Other current assets |
0.161 |
0.174 |
0.195 |
|
Total Current
Assets |
215.665 |
195.505 |
208.591 |
|
|
|
|
|
|
TOTAL |
360.704 |
327.138 |
291.340 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
316.778 |
374.468 |
227.967 |
|
|
|
Other Income |
1.950 |
1.995 |
87.779 |
|
|
|
TOTAL |
318.728 |
376.463 |
315.746 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
237.450 |
301.845 |
241.545 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
81.278 |
74.618 |
74.201 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
26.527 |
23.869 |
24.117 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
54.751 |
50.749 |
50.084 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
1.286 |
5.030 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
78.22 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
17.18 |
13.48 |
15.86 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
25.66 |
19.93 |
32.55 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
22.76 |
23.07 |
25.83 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.39 |
0.44 |
0.59 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.49 |
0.74 |
0.90 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.90 |
1.72 |
1.88 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT
MATURITIES OF LONG-TERM DEBT DETAILS – NOT AVAILABLE
|
Sr. No. |
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
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 |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
Note:
The Registered Office of the company has been shifted from Plot No. 2,
Kothari Industrial Estate No 1 At and Post Santej, Taluka Kalol, District
Mehsana, Gujarat, India to the present address w.e.f. 20.12.2006
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As on 31.03.2013 |
As on 31.03.2012 |
|
LONG-TERM
BORROWINGS |
|
|
|
From Directors |
10.966 |
2.897 |
|
From Shareholders |
22.506 |
14.186 |
|
From Companies |
0.000 |
16.000 |
|
|
|
|
|
Total |
33.472 |
33.083 |
BUSINESS PROSPECTS
AND FUTURE OUTLOOK
The company has achieved a gross turnover of Rs.318.728 Millions. The operation for the year has resulted into Net Profit of Rs.754.751 Millions compared to Rs.50.748 Millions during the previous year. The company could achieve sustained growth in business due to continued pursuit of their strategy to work with innovation ideas, developing new areas of its activities and reducing cost of products through process innovation. Directors ate hoping even better performance during the current year.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10316372 |
24/10/2011 |
20,000,000.00 |
THE KALUPUR COMMERCIAL COOPERATIVE BANK LIMITED |
"KALUPUR BANK BHAVAN", NEAR INCOME TAX CIRCLE, ASHRAM ROAD, AHMEDABAD, GUJARAT - 380014, INDIA |
B24831513 |
|
2 |
10229181 |
20/07/2010 |
10,000,000.00 |
THE KALUPUR COMMERCIAL COOPERATIVE BANK LIMITED |
"KALUPUR BANK BHAVAN", NEAR INCOME TAX CIRCLE, ASHRAM ROAD, AHMEDABAD, GUJARAT - 380014, INDIA |
A89977409 |
|
3 |
10006967 |
06/06/2006 |
7,500,000.00 |
THE KALUPUR COMMERCIAL COOPERATIVE BANK LIMITED |
415 CHOKHA BAZAR, KALUPUR, AHMEDABAD, GUJARAT - 380002, INDIA |
A01881374 |
|
4 |
80047949 |
18/03/2006 |
4,335,000.00 |
THE KALUPUR COMMERCIAL COOPERATIVE BANK LIMITED |
416, CHOKHA BAZAR, KALUPUR, AHMEDABAD, GUJARAT - 380002, INDIA |
- |
|
5 |
90096109 |
12/03/2003 |
7,500,000.00 |
THE KALUPUR COMMERCIAL COOPERATIVE BANK LIMITED |
VIKRAM BRANCH ; SAROJ CHAMBERS ASHRAM ROAD, AHMEDABAD, GUJARAT - 380009, INDIA |
- |
|
6 |
90095686 |
25/06/2002 |
569,000.00 |
KOTAK MAHINDRA FINANCE LIMITED |
5-C II MIAAL COURT, GROUND FLOOR ; 224 NARIMAN PO |
- |
|
7 |
90096090 |
18/02/2003 * |
20,000,000.00 |
THE KALUPUR COMMERCIAL COOPERATIVE BANK LIMITED |
VIKRAM BRANCH, SAROJ CHAMBERS, ASHRAM ROAD, AHMEDABAD, GUJARAT - 380009, INDIA |
- |
|
8 |
90095683 |
18/02/2003 * |
10,000,000.00 |
THE KALUPUR COMMERCIAL COOPERATIVE BANK LIMITED |
VIKRAM BRANCH; SAROJ CHAMBERS ASHRAM ROAD, AHMEDABAD, GUJARAT - 380009, INDIA |
- |
|
9 |
90096229 |
28/08/2000 |
1,350,000.00 |
KOTAK MAHINDRA FINANCE LIMITED |
5-C II MIAAL COURT, GROUND FLOOR ; 224 NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
- |
|
10 |
90096010 |
17/07/2008 * |
32,500,000.00 |
THE KALUPUR COMMERCIAL COOPERATIVE BANK LIMITED |
KALUPUR BANK BHAVAN, ASHRAM ROAD, AHMEDABAD, GUJARAT - 380014, INDIA |
A44080869 |
* Date of charge modification
FIXED ASSETS
· Land
· Borewell
· Building
· Plant and Machinery
· Cable and Equipment
· Furniture and Fixture
· Computer
· Vehicles
· Road
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.62.45 |
|
|
1 |
Rs.102.01 |
|
Euro |
1 |
Rs.84.35 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
46 |
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.