MIRA
INFORM REPORT
|
Report Date : |
10.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
AIR WORKS |
|
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|
Registered
Office : |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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|
Date of
Incorporation : |
11.09.1986 |
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|
|
|
Com. Reg. No.: |
11-040889 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 421.403 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74210MH1986PTC040889 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA19638D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCA1069P |
|
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|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
The Company is engaged in the business of Aviation services, and
hence, does not carry out any research and development activities. |
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|
|
No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 11366000 |
|
|
|
|
Status : |
Moderate |
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|
|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having moderate track record. Company has incurred loss from its operation in 2013. However, trade relation 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.
INDIAN ECONOMIC OVERVIEW
The services sector, the largest contributor to
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 (91-22-26158921)
LOCATIONS
|
Registered Office : |
|
|
Tel. No.: |
91-22-26157213 /26124448/9911/ 26157256 /
26157296 / 26157221/26158900 |
|
Fax No.: |
91-22-26115232/ 26157069 |
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E-Mail : |
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|
Website : |
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Corporate Office : |
1st Floor, Kalyani House, Plot No. 40, Sector 18, Udyog
Vihar, Gurgaon – 122001, Haryana, India |
|
Tel. No.: |
91-124-46422000 |
|
Fax No.: |
91-124-4642250 |
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|
|
|
Branches : |
Located at: ·
Ahmedabad ·
·
Chennai ( ·
Gurgaon ·
Hosur ·
Jakkur ·
·
Mumbai ·
·
Pune ·
|
DIRECTORS
As on 30.09.2013
|
Name : |
Luv Chhabra |
|
Designation : |
Director |
|
Address : |
H-16/4, |
|
Date of Birth/Age : |
29.09.1956 |
|
Date of Appointment : |
04.02.2008 |
|
DIN No.: |
00005413 |
|
|
|
|
Name : |
Bala Chaitanya Deshpande |
|
Designation : |
Director |
|
Address : |
202, Cozy Dell St Andra, WS Road, Bandra (West), Mumbai – 400005,
Maharashtra, India |
|
Date of Birth/Age : |
15.06.1966 |
|
Date of Appointment : |
16.05.2011 |
|
DIN No.: |
00020130 |
|
|
|
|
Name : |
Mr. Vivek Narayan Gour |
|
Designation : |
Managing Diector |
|
Address : |
Q-6/4, DLF Qutab Enclave 2, |
|
Date of Birth/Age : |
10.11.1962 |
|
Date of Appointment : |
03.11.2010 |
|
DIN No.: |
00254383 |
|
|
|
|
Name : |
Mr. |
|
Designation : |
Director |
|
Address : |
Flat # 105/106, |
|
Date of Birth/Age : |
27.11.1953 |
|
Qualification : |
AME |
|
Date of Appointment : |
11.09.1986 |
|
DIN No.: |
00327180 |
|
|
|
|
Name : |
Mr. Sahadev Gopinath Menon |
|
Designation : |
Director |
|
Address : |
102/103, Raj Mandir, Off |
|
Date of Birth/Age : |
07.10.1955 |
|
Qualification : |
BSC, DBM, AME |
|
Date of Appointment : |
11.09.1986 |
|
DIN No.: |
00327226 |
|
|
|
|
Name : |
Mr. Raghudev Gopinath Menon |
|
Designation : |
Director |
|
Address : |
Flat # 101/102, |
|
Date of Birth/Age : |
07.04.1957 |
|
Qualification : |
BSC |
|
Date of Appointment : |
11.09.1986 |
|
DIN No.: |
00327285 |
|
|
|
|
Name : |
Michael P Schulhof |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
30.11.1942 |
|
Date of Appointment : |
04.02.2009 |
|
DIN No.: |
01884261 |
|
|
|
|
Name : |
Charles Fabrikant |
|
Designation : |
Director |
|
Address : |
249 South Woods Road, |
|
Date of Birth/Age : |
24.07.1944 |
|
Date of Appointment : |
04.02.2009 |
|
DIN No.: |
01887819 |
|
|
|
|
Name : |
Mr. Suresh Kumar Soni |
|
Designation : |
Director |
|
Address : |
3403, Fayance Place, |
|
Date of Birth/Age : |
20.07.1963 |
|
Date of Appointment : |
16.05.2011 |
|
DIN No.: |
02498900 |
|
|
|
|
Name : |
Mr. Manhar Kapoor |
|
Designation : |
Nominee Director |
|
Address : |
C-1 / 26, Mianwali Nagar, Delhi – 110087, India |
|
Date of Birth/Age : |
25.10.1978 |
|
Date of Appointment : |
26.04.2013 |
|
DIN No.: |
06553730 |
|
|
|
|
Name : |
Tarun Sharma |
|
Designation : |
Nominee Director |
|
Address : |
05.10.1978 |
|
Date of Birth/Age : |
179, Sidhartha Enclave, New Delhi – 110014, India |
|
Date of Appointment : |
11.07.2013 |
|
DIN No.: |
03095034 |
KEY EXECUTIVES
|
Name : |
Mr. Saurabh Mathur |
|
Designation : |
Secretary |
|
Address : |
2C, Block, 3-Pocket –B, Ashok Vihar, Phase-III, Delhi – 110052, India |
|
Date of Birth/Age : |
20.01.1969 |
|
Date of Appointment : |
16.01.2012 |
|
Pan No.: |
AEOPM0539G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of
Shareholders (Equity Share) |
No. of Shares |
|
Sarala B. Menon |
100 |
|
Ravi S Menon |
3305900 |
|
Sahadev G Menon |
1652300 |
|
Gayatri Heble |
563400 |
|
Raghudev G Menon |
1652300 |
|
Kalpana Nair |
563400 |
|
Rajdev Menon |
1652300 |
|
Jaidev Menon |
1652300 |
|
Nalini Menon |
1126700 |
|
Indusage Management Services Private Limited, India |
4296400 |
|
GTI AW i |
19407800 |
|
Punj Lloyd Aviation Limited, |
17516100 |
|
Mr. Vivek N Gour Mr. Anand Bhaskar Dhanyamraju Mr, Luv Chhabra (C/o Air Works Employees Welfare Trust) |
13630647 |
|
Mr. Vivek N Gour |
1513432 |
|
Nea FVCL Limited, Mauritius |
10000 |
|
Tusk Investments Fund 1 Limited, Mauritius |
4939500 |
|
Elephant India Finance Private Limited, India |
735700 |
|
GNE Investment Limited, Mauritius |
759100 |
|
Nea FVCL Limited, Mauritius |
10000 |
|
|
|
|
Total |
74987379 |
|
Names of Shareholders (Preference Share) |
No. of Shares |
|
Nea FVCL Limited, |
27596956 |
|
GTI Capital Delta Private Limited, Mauritius |
8407721 |
|
|
|
|
Total |
36004677 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Venture Capital |
0.01 |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
33.49 |
|
Bodies corporate |
30.07 |
|
Directors or relatives of Directors |
18.25 |
|
Other top fifty shareholders |
18.18 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in the business of Aviation services, and
hence, does not carry out any research and development activities. |
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Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management |
||||||||||||||||||
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||||||||||||||||||
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Bankers : |
v HDFC Bank
Limited v Standard Chartered
Bank, Credit Documentation Unit, Narain Manzil, 23 Barakhamba Road, New Delhi
– 110001, India v Indusind Bank
Limited, Dr. Gopal Das Bhawan, 28, Barakhamba Road, New Delhi – 110001, India
v Yes Bank
Limited, 9th Floor, Nehru Centre, Discovery of India, Dr. Annie
Besant Road, Worli, Mumbai – 400018, Maharashtra, India |
||||||||||||||||||
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Facilities : |
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Banking
Relations : |
-- |
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Financial
Institution : |
IDBI Trusteeship Services Limited, Asian Building, Ground Floor, 17 R.
Kamani Marg, Ballard Estate, Mumbai – 400001, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
S.R. Batliboi and Company Chartered Accountants |
|
Address : |
Golf View
Corporate Tower- B, Sector- 42, Sector Road, Gurgaon - 122 002, Haryana,
India |
|
PAN
No. : |
AALFS0506L |
|
|
|
|
Subsidiary
Companies : |
¨
Mach Air Sales Limited ¨
Air Works MRO Services Private Limited ¨
Air Works UK Engineering Limited ¨ SA Air Works
India Private Limited |
|
|
|
|
Step down
Subsidiary Companies : |
¨
Business Aviation Services Limited ¨
AirWorks Aviation Services Limited (formerly, Air
Works ¨
Aircraft Sales Limited) ¨
Empire Aviation Group FZCO (w.e.f. 7/6/2012) ¨
Air Livery ATE SAS (w.e.f. 23/1/2013) ¨
Aero Technique Espace (ATE) (w.e.f. 14/1/2013 ) ¨
Air Livery Limited, UK ¨
Air Livery (Cambridge) Limited ¨
Sprayavia International Limited ¨ Air Livery India
Private Limited |
|
|
|
|
Associates : |
¨
Punj Lloyd Aviation Limited ¨
Punj Lloyd Pte Limited ¨
NEA FVCI Limited ¨
Spectra Punj Lloyd Limited ¨ Punj Lloyd
Limited |
|
|
|
|
Employee trust Air Works Employees Welfare Trust Entity
significantly influenced by the Company : |
¨ Employee trust
Air Works Employees Welfare Trust ¨ Entity
significantly influenced by the Company |
CAPITAL STRUCTURE
After 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
80020000 |
Equity Shares |
Rs.1/- each |
Rs.80.020 Millions |
|
36150000 |
Preference Shares |
Rs.10/- each |
Rs. 361.500 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.441.520 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
74987379 |
Equity Shares |
Rs.1/- each |
Rs.74.987 Millions |
|
36004677 |
Preference Shares |
Rs.10/- each |
Rs.360.047 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.435.034
Millions |
As on 31.03.2013
Authorised Capital : Rs. 441.520 Millions
Issued, Subscribed & Paid-up Capital : Rs. 421.403
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 |
421.403 |
263.506 |
233.870 |
|
(b) Reserves & Surplus |
2420.099 |
1782.945 |
1426.641 |
|
(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) |
2841.502 |
2046.451 |
1660.511 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
661.670 |
1.443 |
8.943 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
239.819 |
242.299 |
241.248 |
|
(d) long-term provisions |
4.760 |
9.675 |
22.822 |
|
Total Non-current Liabilities (3) |
906.249 |
253.417 |
273.013 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
210.784 |
244.161 |
199.649 |
|
(b) Trade payables |
320.928 |
282.765 |
225.018 |
|
(c) Other current
liabilities |
430.190 |
81.997 |
603.394 |
|
(d) Short-term provisions |
79.189 |
58.359 |
10.251 |
|
Total Current Liabilities (4) |
1041.091 |
667.282 |
1038.312 |
|
|
|
|
|
|
TOTAL |
4788.842 |
2967.150 |
2971.836 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
269.104 |
284.511 |
199.989 |
|
(ii) Intangible Assets |
236.057 |
212.804 |
208.736 |
|
(iii) Capital
work-in-progress |
61.308 |
27.639 |
71.504 |
|
(iv)
Intangible assets under development |
29.894 |
48.695 |
0.000 |
|
(b) Non-current Investments |
725.377 |
725.377 |
725.377 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
738.950 |
283.850 |
113.655 |
|
(e) Other Non-current assets |
161.707 |
110.849 |
194.613 |
|
Total Non-Current Assets |
2222.397 |
1693.725 |
1513.874 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.997 |
|
(b) Inventories |
120.969 |
108.914 |
81.129 |
|
(c) Trade receivables |
793.666 |
849.652 |
484.248 |
|
(d) Cash and cash
equivalents |
231.900 |
149.310 |
783.468 |
|
(e) Short-term loans and
advances |
1186.099 |
137.378 |
97.389 |
|
(f) Other current assets |
233.811 |
28.171 |
10.731 |
|
Total Current Assets |
2566.445 |
1273.425 |
1457.962 |
|
|
|
|
|
|
TOTAL |
4788.842 |
2967.150 |
2971.836 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
1935.600 |
1493.540 |
1395.530 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
1537.810 |
1279.090 |
1102.820 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
397.790 |
214.450 |
292.710 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
322.140 |
92.250 |
206.220 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
75.650 |
122.200 |
86.490 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
96.210 |
81.210 |
60.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
(20.560) |
40.990 |
26.190 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
2.160 |
8.200 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(22.720) |
32.790 |
26.190 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(178.530) |
(211.320) |
(237.510) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(201.250) |
(178.530) |
(211.320) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(0.20) |
0.29 |
0.23 |
|
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KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(1.17)
|
2.19 |
1.88 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.52)
|
1.89 |
1.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.01)
|
0.02 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.31
|
0.12 |
0.12 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.46
|
1.91 |
1.40 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBTS
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
Current maturities of long-term debt |
289.773 |
7.206 |
522.996 |
|
|
|
|
|
|
Total |
289.773
|
7.206 |
522.996 |
|
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 |
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 |
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 |
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Working capital loans from bank |
210.059 |
243.436 |
|
Loans and advance from related parties |
0.725 |
0.725 |
|
|
|
|
|
Total |
210.784 |
244.161 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10444935 |
31/07/2013 |
1,380,000,000.00 |
INDUSIND BANK LTD. |
Dr. Gopal Das Bhawan, 28, Barakhamba Road, New Delhi, Delhi - 110001,
INDIA |
B83026633 |
|
2 |
10297954 |
27/09/2013 * |
400,000,000.00 |
Standard Chartered Bank |
CREDIT DOCUMENTATION UNIT, NARAIN MANZIL, 23 BARAKHAMBA ROAD, NEW
DELHI, Delhi - 110001, INDIA |
B85831881 |
|
3 |
10225741 |
07/02/2012 * |
250,000,000.00 |
INDUSIND BANK LTD. |
Dr. Gopal Das Bhawan, 28, Barakhamba Road, New Delhi, Delhi - 110001,
INDIA |
B31540552 |
|
4 |
10208925 |
02/03/2010 |
5,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI,
Maharashtra - 400013, INDIA |
A81804668 |
* Date of charge modification
BUSINESS REVIEW
CURRENT YEAR OUTLOOK AND BUSINESS EXPANSION
PROGRAMME
Air Works
continues to maintain its position as the leading provider of aviation services
qualified to maintain over 50 aircraft types, for over 100 customers across
over 20 maintenance locations. Air Works is India’s only EASA certified MRO
with approvals for ATR42/72, Airbus A320 and Boeing B737 Classic/NG series. It
also became the first General Aviation MRO to have an EASA certification at two
of its facilities in Delhi and Mumbai.
The Company
continues to expand its OEM relationships and is the Authorized Service Centre for
Dassault, Rockwell Collins, Gulfstream, Bombardier, Honeywell, Agusta Westland,
Bell Helicopter, Superjet International, Hawker Beechcraft, Embrarer and
Williams. The Company is working on gaining ASF status from Cessna and Pratt
and Whitney.
Through its
Subsidiaries in Europe namely, Air Livery Ltd. and Aéro Technique Espace, Air
Works is one of the world’s largest providers of aircraft paint services.
Through the support of Air Livery Limited, Air Works has been carrying out
Livery operations for commercial aircrafts in India.
Also through, SA
Air Works India Private Limited (joint venture Company promoted by Air Works
with Scandinavian Avionics, Denmark), Air Works is providing complete turnkey
avionics solutions to commercial and defense Customers in India.
FIXED ASSETS
v
Land
v
Building
v
Computer
v
Furniture and Fixture
v
Office Equipments
v
Vehicles
v
Plant and Machinery
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.62.31 |
|
|
1 |
Rs.101.78 |
|
Euro |
1 |
Rs.84.68 |
INFORMATION DETAILS
|
Information Gathered
by : |
NYA |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
|
36 |
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.