MIRA
INFORM REPORT
|
Report Date : |
13.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
NEEL AGROTECH PRIVATE LIMITED (w.e.f. 02.04.2007) |
|
|
|
|
Formerly Known
As : |
NEEL BIO-TECH PRIVATE LIMITED NEEL BIO-ORGANICS PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
S/3, Navrang, Swastik Cross Roads, Navrangpura, Ahmedabad – 380009,
Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
10.06.1997 |
|
|
|
|
Com. Reg. No.: |
04-032490 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.12.068 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36941GJ1997PTC032490 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMN00596B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACN5318D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Marketing of agri products, Provider of Greenhouse / Polyhouse, Consulting and Turnkey Project on agriculture Cultivation, Contract Cultivation on Different Crop and Export of Food products. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 890 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
|
Litigation : |
Exist |
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|
|
Comments : |
Subject is an established company having moderate track record. There appears huge accumulated losses recorded by the company. However, trade relations are fair. Business is active. Payment terms are
slow but correct. The company can be considered for business dealing 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 worst is over for India’s economy with gross domestic product likely
to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s
Analytics. Concerns over the rupee and current account deficit are under
control, said the agency. Ratings firm Crisil has forecast 6 % growth for
2014/15 up from the estimated 4.8 % for 2013/14. Total economic growth,
infrastructure bottlenecks and lack of transparency and consistency in foreign
direct investment policies seem to have taken a toll on India’s attractiveness
as an investment destination, says an Ernst & Young survey. Projects
with FDI component fell 16.4 % across the globe in 2012 from the previous year.
The drop in India was steeper at 21 %. State run carrier Air India is doling
out free tickets to its 24000 employees, even as it expects to incur a loss of
Rs 39000 mn this financial year and has a debt of Rs 350000 mn. 550000 number
of jobs generated across India in 2013, a fall of 0.4 % as compared to with a
year earlier. The National Capital Region has a one-fourth share in total
jobs created, according to a study by industry lobby group Assochem, Banks,
real estate, automobile and telecommunications sectors are showing a rise of
job creation. $ 805 mn investments by venture capital firms in India during
2013, registering a drop of about 18 % over the previous year. The Information
Technology and IT-Enabled Services Industry retained its status as the
favourable venture capital investors in 2013. Pakistan has temporarily banned
gold imports for the second time in six months, as it tries to stem smuggling
into India. India’s import duty on gold is 10 % and curbs on purchases have
dried up legal imports into what used to be the world’s biggest bullion buyers.
The World Gold Council puts the amount smuggled into India at upto 200 tonnes
in 2013. The Reserve Bank of India has proposed that unclaimed bank deposits
estimated to be about Rs 35000 mn be used for education and awareness among
depositors. According to the plan, deposits that have not been claimed
for at least 10 years will be transferred to the scheme.
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 BY
|
Name : |
Mr. Palak Shah |
|
Designation : |
Account Department |
|
Contact No.: |
91-9662537793 |
|
Date : |
11.02.2014 |
LOCATIONS
|
Registered Office : |
S/3, Navrang, Swastik Cross Roads, Navrangpura, Ahmedabad – 380009,
Gujarat, India |
|
Tel. No.: |
91-79-26568012 |
|
Mobile No.: |
91-9662537793 (Mr. Palak Shah) |
|
Fax No.: |
91-79-26409327 |
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E-Mail : |
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|
Website : |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Dewang Gautambhai Shah |
|
Designation : |
Managing Director |
|
Address : |
10B, Navyug Society, Near Nehrunagar Crossroad, Ambawadi, Ahmedabad –
380015, Gujarat, India |
|
Date of Birth/Age : |
17.01.1967 |
|
Date of Appointment : |
01.04.2013 |
|
DIN No : |
00009984 |
|
|
|
|
Name : |
Mr. Mitul Gautambhai Shah |
|
Designation : |
Managing Director |
|
Address : |
150, Manekbaug Society, Behind Maneklbaug Hall, Ambawadi, Ahmedabad –
380015, Gujarat, India. |
|
Date of Birth/Age : |
01.11.1972 |
|
Date of Appointment : |
01.04.2013 |
|
DIN No : |
00011148 |
|
|
|
|
Name : |
Mr. Chetan Kalyanbhai Sutaria |
|
Designation : |
Director |
|
Address : |
C.o Laljibhai Nanjibhai Patel, 44 Sangna Rander Road, Next to Navyug college,
Surat – 395009, Gujarat, India |
|
Date of Appointment : |
15.10.2005 |
|
DIN No : |
01307729 |
KEY EXECUTIVES
|
Name : |
Mr. Palak Shah |
|
Designation : |
Account Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Shah Gautam Shantilal |
|
120000 |
|
Shah Gautam Shantilal HUF 2 |
|
60000 |
|
Shah Tarlika Gautam |
|
20000 |
|
Shah Dewang Gautambhai |
|
250000 |
|
Shah Dewang Gautambhai HUF |
|
25000 |
|
Shah Darshikaben Dewangbhai |
|
25000 |
|
Shah Mitul Gautambhai |
|
250000 |
|
Shah Mitul Gautambhai HUF |
|
25000 |
|
Shah Minal Mitulbhai |
|
25000 |
|
Shah Madhukantaben R |
|
1 |
|
Sutaria Chetanbhai Kalyanbhai |
|
10 |
|
Chavda Vaghjibhai Jadavbhai |
|
10 |
|
Neshiel Chemical Private Limited, India |
|
361000 |
|
Neshiel Chemical Private Limited, India |
|
35000 |
|
Patel Parul Ashok Patel Amisha Ashok |
|
3000 |
|
Patel Kaushal Ashok Patel Amisha Ashok |
|
2000 |
|
Prashant Tripathi |
|
4000 |
|
Bhasker Dev Panchal |
|
1800 |
|
Total |
|
1206821 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
32.81 |
|
Directors or relatives of directors |
|
66.19 |
|
Other top fifty shareholders |
|
1.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Marketing of agri products, Provider of Greenhouse / Polyhouse,
Consulting and Turnkey Project on agriculture Cultivation, Contract
Cultivation on Different Crop and Export of Food products. |
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 ·
State Bank of India, Lal Darwaja, Main Branch,
Ahmedabad - 380001, Gujarat, India |
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Facilities : |
(Rs.
In Millions)
|
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|
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
J T Shah and company Chartered Accountant |
|
Address : |
201/202, Lalita Complex, 352/3, Rasala Marg, Narvrangpura, Ahmedabad –
380009, |
|
Tel. No.: |
91-26444420/26444430/2644440 |
|
Fax No.: |
91-26560440 |
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E-Mail : |
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PAN No.: |
AABFJ6616J |
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|
Associates : |
Dewang Corporation |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1206821 |
Equity Shares |
Rs.10/- each |
Rs.12.068 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 |
12.068 |
12.068 |
12.068 |
|
(b) Reserves & Surplus |
(11.844) |
(15.397) |
(7.460) |
|
(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) |
0.224 |
(3.329) |
4.608 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.105 |
0.140 |
0.135 |
|
(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) |
0.105 |
0.140 |
0.135 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
17.782 |
23.953 |
31.450 |
|
(b) Trade payables |
11.489 |
4.340 |
18.595 |
|
(c) Other current liabilities |
15.205 |
4.577 |
3.117 |
|
(d) Short-term provisions |
0.044 |
0.053 |
0.046 |
|
Total Current
Liabilities (4) |
44.520 |
32.923 |
53.208 |
|
|
|
|
|
|
TOTAL |
44.849 |
29.734 |
57.951 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
7.095 |
6.551 |
6.748 |
|
(ii) Intangible Assets |
0.005 |
0.006 |
0.008 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.250 |
0.050 |
0.050 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.677 |
0.438 |
0.319 |
|
(e) Other Non-current assets |
0.000 |
0.082 |
0.110 |
|
Total Non-Current
Assets |
8.027 |
7.127 |
7.235 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
14.014 |
11.608 |
16.629 |
|
(c) Trade receivables |
11.166 |
6.472 |
23.232 |
|
(d) Cash and cash equivalents |
8.412 |
0.584 |
4.365 |
|
(e) Short-term loans and advances |
3.230 |
3.915 |
6.462 |
|
(f) Other current assets |
0.000 |
0.028 |
0.028 |
|
Total Current
Assets |
36.822 |
22.607 |
50.716 |
|
|
|
|
|
|
TOTAL |
44.849 |
29.734 |
57.951 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Gross Sales |
88.811 |
50.534 |
66.364 |
|
|
|
Franchisee Fess |
1.000 |
1.685 |
0.815 |
|
|
|
Govt. Subsidy Income |
0.034 |
0.103 |
0.091 |
|
|
|
|
|
|
|
|
|
TOTAL EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
4.564 |
(7.509) |
0.180 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
0.551 |
0.424 |
0.536 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
4.013 |
(7.933) |
(0.356) |
|
|
|
|
|
|
|
|
|
|
TAX |
0.460 |
0.003 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
3.553 |
(7.936) |
(0.356) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1.667 |
18.423 |
NA |
|
|
TOTAL EARNINGS |
1.667 |
18.423 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Project Materials |
4.865 |
3.921 |
10.727 |
|
|
TOTAL IMPORTS |
4.865 |
3.921 |
10.727 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.94 |
(6.59) |
(0.32)
|
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.00 |
(26.72) |
(0.61) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
17.92 |
2.38 |
(0.08) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
79.85 |
(7.24) |
6.85 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.83 |
0.69 |
0.95 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
12.068 |
12.068 |
12.068 |
|
Reserves & Surplus |
(7.460) |
(15.397) |
(11.844) |
|
Net worth |
4.608 |
(3.329) |
0.224 |
|
|
|
|
|
|
long-term borrowings |
0.135 |
0.140 |
0.105 |
|
Short term borrowings |
31.450 |
23.953 |
17.782 |
|
Total borrowings |
31.585 |
24.093 |
17.887 |
|
Debt/Equity ratio |
6.854 |
(7.237) |
79.853 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth
|
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Gross Sales |
66.364 |
50.534 |
88.811 |
|
|
|
(23.853) |
75.745 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG TERM BORROWINGS
(Rs. In Millions)
|
Particular |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current maturities of long-term borrowings |
0.035 |
0.035 |
0.060 |
|
|
|
|
|
|
Total |
0.035 |
0.035 |
0.060 |
|
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 |
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 |
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 |
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 |
|
LITIGATION
DETAILS |
|
HIGH COURT OF GUJARAT |
|
CIVIL APPLICATION No. 735 of 2013 |
|
|
|
In STAMP NUMBER / 3217 / 2013 ( PENDING ) |
|
Status : PENDING |
( Converted from : O/ST/3219/2013 ) |
CCIN No : 001073201300735 |
|
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||||
|
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|
S.NO. |
Name of the Petitioner |
Advocate On Record |
|
1 |
STATE OF GUJARAT |
GOVERNMENT PLEADER for: Applicant(s) |
1|
S.NO. |
Name of the Respondant |
Advocate On Record |
|
1 |
NEEL AGROTECH PRIVATE LIMITED |
NANAVATI ASSOCIATES for :Respondent(s) 1 |
|
|
|||
|
Presented On |
: 06/12/2013 |
Registered On |
: 13/12/2013 |
|
Bench Category |
: - |
District |
: AHMEDABAD |
|
Case Originated From |
: THROUGH STATE |
Listed |
: 4 times |
|
StageName |
: NOTICE RETURNABLE MATTERS |
||
|
Classification |
DB - CIVIL APPLICATION - LIMITATION ACT, 1963 -
CONDONATION OF DELAY |
|
Act |
LIMITATION ACT, 1963 |
|
Office Details |
|
S. No. |
Filing Date |
Document Name |
Advocate Name |
Court Fee on Document |
Document Details |
|
1 |
06/12/2013 |
APPEARANCE NOTE |
GOVERNMENT PLEADER |
0 |
GOVERNMENT PLEADER(1) for P:1 |
|
2 |
06/12/2013 |
MEMO OF APPEAL/PETITION/SUIT |
GOVERNMENT PLEADER |
20 |
GOVERNMENT PLEADER(1), for P:1 |
|
3 |
31/01/2014 |
APPEARANCE NOTE |
NANAVATI ASSOCIATES ADVOCATE |
0 |
NANAVATI ASSOCIATES(1375) for R:1 |
|
Court Proceedings |
|||||
|
S. No. |
Notified Date |
CourtCode |
Board Sr. No. |
Stage |
Action |
Coram |
|
1 |
18/12/2013 |
5 |
2- |
ADMISSION (FRESH MATTERS) |
FIXED RULE / ADMIT |
HONOURABLE MR.JUSTICE M.R. SHAH HONOURABLE MR.JUSTICE R.P.DHOLARIA |
|
2 |
15/01/2014 |
7 |
29 |
NOTICE RETURNABLE MATTERS |
NEXT DATE |
HONOURABLE MR.JUSTICE M.R. SHAH HONOURABLE MR.JUSTICE AKIL KURESHI and HONOURABLE MS JUSTICE SONIA GOKANI and HONOURABLE MR.JUSTICE R.P.DHOLARIA |
|
3 |
30/01/2014 |
7 |
21 |
NOTICE RETURNABLE MATTERS |
NEXT DATE |
HONOURABLE MR.JUSTICE AKIL KURESHI HONOURABLE MS JUSTICE SONIA GOKANI |
|
4 |
14/02/2014 |
7 |
- |
NOTICE RETURNABLE MATTERS |
|
HONOURABLE MR.JUSTICE AKIL KURESHI HONOURABLE MS JUSTICE SONIA GOKANI |
|
Available Orders |
||||||
|
S. No. |
Case Details |
Judge Name |
Order Date |
CAV |
Judgement |
Questions |
Transferred |
Download |
|
|
1 |
CIVIL APPLICATION/735/2013 |
HONOURABLE MR.JUSTICE M.R. SHAH HONOURABLE MR.JUSTICE R.P.DHOLARIA |
18/12/2013 |
N |
ORDER |
- |
Y |
Download |
|
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As on 31.03.2013 |
As on 31.03.2012 |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans and Advances form related Parties |
17.769 |
18.953 |
|
|
|
|
|
Total |
17.769 |
18.953 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10404908 |
28/01/2013 |
9,000,000.00 |
THE KALUPUR COMM. CO. OP. BANK LTD. |
KALUPUR BHAVAN, INCOME TAX., AHMEDABAD, GUJARAT - |
B68691799 |
FIXED ASSETS
- Freehold
- Buildings – Factory Buildings
- Buildings – Other Buildings
- Plant and Machinery
- Furniture and Fixtures
- Patents and Trademarks
- Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.13 |
|
|
1 |
Rs.102.25 |
|
Euro |
1 |
Rs.84.72 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
28 |
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.