MIRA
INFORM REPORT
|
Report Date : |
15.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
SERCO BPO PRIVATE LIMITED (w.e.f. 27.11.2008) |
|
|
|
|
Formerly Known
As : |
VOICE DATA MANAGEMENT PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Serco House, Plot CST NO 1406-A/28, Mindspace, Malad (West), Mumbai –
400090, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
17.04.2001 |
|
|
|
|
Com. Reg. No.: |
11-232120 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.534.302 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72900MH2001PTC232120 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCV2572L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of providing IT enabled services, BPO services, call center and contract center services, back office processing, outsourcing services, data processing and analysis. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 11990000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of Serco BPO Holding Private Limited. It is an
established company having moderate track record. The company has continues losses from its operational activities.
External borrowing of the company seems to be huge, which acts as a
threatening to the liquidity of the company. Latest financial for the year 2013 is not available with us. However, trade relations are fair. Business is active. Payment terms
are slow. The company can be considered for business dealing with great 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
Management Non-Cooperative (91-22-66776270)
LOCATIONS
|
Registered Office : |
Serco House, Plot CST NO 1406-A/28, Mindspace, Malad (West), Mumbai –
400090, Maharashtra, India |
|
Tel. No.: |
91-22-66776270 |
|
Fax No.: |
91-22-66778210 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Plot No. 94-95, Sector 18, Udyog Vihar, Gurgaon – 122015, Haryana, India |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Susirkumar Mangalore |
|
Designation : |
Whole-Time Director |
|
Address : |
603, 6th Floor, Jade 7 Bunglows, Near Versova Link Road,
Andheri (West) , Mumbai – 400058, Maharashtra, India |
|
Date of Birth/Age : |
30.01.1966 |
|
Date of Appointment : |
29.09.20111 |
|
DIN No.: |
00049374 |
|
|
|
|
Name : |
Mr. Bhupender Singh |
|
Designation : |
Whole-Time Director |
|
Address : |
Middle Farm, Green Laneufton, Nervet Reading, Berkshira RG74HE, United
kingdom |
|
Date of Birth/Age : |
14.42.1972 |
|
Date of Appointment : |
09.03.2013 |
|
DIN No.: |
00240912 |
KEY EXECUTIVES
|
Name : |
Mr. Abhay Kamalakar Telang |
|
Designation : |
Secretary |
|
Address : |
16, Gurukrupa, New Liberty Co-operative Housing Limited, Garden Cross
No. 4, Malad (West), Mumbai – 400064, Maharashtra, India |
|
Date of Birth/Age : |
11.05.1964 |
|
Date of Appointment : |
04.04.2013 |
|
PAN No.: |
AARPT1748B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Serco BPO Holding Private Limited, India |
|
33931496 |
|
Serco International S.A.R.L, Luxembourg |
|
19786864 |
|
SKM Technology Ventures Private Limited, India (As Trust of SKM
Trust) |
|
59620 |
|
|
|
|
|
Total |
|
53777980 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
36.79 |
|
Bodies corporate |
|
63.21 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of providing IT enabled
services, BPO services, call center and contract center services, back office
processing, outsourcing services, data processing and analysis. |
||||
|
|
|
||||
|
Products/ Services : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
ICICI Bank Limited |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India
|
|
PAN No.: |
AABFD2095B |
|
|
|
|
Subsidiary Company
: |
· SKR BPO Services Private Limited U72900MH2007PTC171259 · Intelenet Global Services Private Limited U99999MH2000PTC129112 |
|
|
|
|
Fellow Subsidiary
Company : |
· Serco India Private Limited U72200HR2006PTC037011 · Serco Limited, UK · Serco Limited (UAE) · Serco Integrated transport Private Limited U63010HR2009FTC039407 · Plat 5 Consultancy Private Limited U74120DL2007PTC171062 · Serco International S.a r.l |
|
|
·
|
|
Holding Company : |
· Serco BPO Holdings Private Limited U72300HR1999PTC044441 |
|
|
|
|
Ultimate Holding
Company : |
· Serco Group plc., U.K. · Serco Nederland B.V. |
CAPITAL STRUCTURE
As on: 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
159200000 |
Equity Shares |
Rs.10/- each |
Rs.1592.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
53777980 |
Equity Shares |
Rs.10/- each |
Rs.537.780 Millions |
|
|
|
|
|
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
55000000 |
Equity Shares |
Rs.10/- each |
Rs.550.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
53430195 |
Equity Shares |
Rs.10/- each |
Rs.534.302 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
534.302 |
69.872 |
|
(b) Reserves & Surplus |
|
2464.760 |
(1075.256) |
|
(c) Money received against
share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
147.880 |
|
Total
Shareholders’ Funds (1) + (2) |
|
2999.062 |
(857.504) |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
20079.145 |
951.568 |
|
(b) Deferred tax liabilities
(Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
6.986 |
8.713 |
|
Total
Non-current Liabilities (3) |
|
20086.131 |
960.281 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
1193.500 |
1372.253 |
|
(b) Trade payables |
|
402.994 |
299.799 |
|
(c) Other current liabilities |
|
162.741 |
117.660 |
|
(d) Short-term provisions |
|
0.355 |
13.767 |
|
Total
Current Liabilities (4) |
|
1759.590 |
1803.479 |
|
|
|
|
|
|
TOTAL |
|
24844.783 |
1906.256 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
443.933 |
486.580 |
|
(i) Tangible assets |
|
566.552 |
614.842 |
|
(ii) Intangible Assets |
|
8.506 |
1.571 |
|
(iii) Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
21132.203 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
374.176 |
249.058 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
22525.370 |
1352.051 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
0.000 |
0.000 |
|
(c) Trade receivables |
|
376.537 |
263.905 |
|
(d) Cash and cash equivalents |
|
71.681 |
9.556 |
|
(e) Short-term loans and
advances |
|
1704.749 |
100.265 |
|
(f) Other current assets |
|
166.446 |
180.479 |
|
Total
Current Assets |
|
2319.413 |
554.205 |
|
|
|
|
|
|
TOTAL |
|
24844.783 |
1906.256 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
69.872 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(257.671) |
|
|
NETWORTH |
|
|
(187.799) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
95.608 |
|
|
2] Unsecured Loans |
|
|
1736.400 |
|
|
TOTAL BORROWING |
|
|
1832.008 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1644.209 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
1159.570 |
|
|
Capital work-in-progress |
|
|
26.523 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000
|
|
|
Sundry Debtors |
|
|
372.791
|
|
|
Cash & Bank Balances |
|
|
7.120
|
|
|
Other Current Assets |
|
|
170.081
|
|
|
Loans & Advances |
|
|
226.704
|
|
Total
Current Assets |
|
|
776.696
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
271.035
|
|
|
Other Current Liabilities |
|
|
36.278
|
|
|
Provisions |
|
|
11.267
|
|
Total
Current Liabilities |
|
|
318.580
|
|
|
Net Current Assets |
|
|
458.116
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1644.209 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
1611.000 |
1569.880 |
1537.300 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
2250.850 |
2387.460 |
1895.210 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(639.850) |
(817.580) |
(357.910) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(639.850) |
(817.580) |
(357.910) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
303.900 |
138.700 |
142.270 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
11.98 |
(117.01) |
(51.22) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(39.72) |
(52.08) |
(23.28) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(17.27) |
(42.92) |
(18.48) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.21) |
0.95 |
1.91 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
7.09 |
(2.71) |
(9.76) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.32 |
0.31 |
2.44 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
69.872 |
534.302 |
|
Reserves & Surplus |
(1,075.256) |
2,464.760 |
|
Net
worth |
(1,005.384) |
2,999.062 |
|
|
|
|
|
long-term borrowings |
951.568 |
20,079.145 |
|
Short term borrowings |
1,372.253 |
1,193.500 |
|
Total
borrowings |
2,323.821 |
21,272.645 |
|
Debt/Equity
ratio |
(2.311) |
7.093 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
1,537.300 |
1,569.880 |
1,611.000 |
|
|
|
2.119 |
2.619 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Toatl Income |
1,537.300 |
1,569.880 |
1,611.000 |
|
Profit |
(357.910) |
(817.580) |
639.850 |
|
|
(23.28%) |
(52.08%) |
39.72% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT
(Rs. In Millions)
|
Particular |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Current maturities of long-term debt |
0.039 |
1.720 |
NA |
|
|
|
|
|
|
Total |
0.039 |
1.720 |
NA |
|
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 |
No |
|
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 LOAN
(Rs.
In Millions)
|
Particular |
As on 31.03.2012 |
As on 31.03.2011 |
|
LONG TERM
BORROWINGS |
|
|
|
Fully Convertible Debentures (FCDs) |
20030.563 |
848.230 |
|
SHORT TERM
BORROWINGS |
|
|
|
Overdraft account |
0.000 |
51.653 |
|
Working capital loans (These loans have been guaranteed by Serco Group Plc.,U.K., the ultimate holding company) |
1193.500 |
1310.000 |
|
Inter-Corporate Deposits from a fellow subsidiary |
0.000 |
10.600 |
|
Total |
21224.063 |
2220.483 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10210811 |
31/03/2010 |
240,000,000.00 |
DBS BANK LIMITED |
3RD FLOOR, D. N. ROAD, FORT HOUSE, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
A81955429 |
|
2 |
10182542 |
07/10/2009 |
269,500,000.00 |
CITIBANK N. A. |
CITIBANK CENTRE , PLOT NO.C61 ,G BLOCK, BANDRA KURLA COMPLEX, BANDRA (E), MUMBAI, MAHARASHTRA - 400051, INDIA |
A72028640 |
|
3 |
10163880 |
11/06/2009 |
350,000,000.00 |
DBS BANK LIMITED |
FORT HOUSE 3RD FLOOR , DR D N ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
A64339997 |
|
4 |
10156874 |
27/04/2009 |
300,000,000.00 |
CITIBANK N. A. |
WOCKHARDT TOWERS, WEST WING, GROUND FLOOR, BANDR |
A62020664 |
|
5 |
10147938 |
17/03/2009 |
1,070,000,000.00 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
52/60 MAHATMA GANDHI ROAD,, FORT, MUMBAI - 400001, MUMBAI, MAHARASHTRA - 400001, INDIA |
A58352469 |
|
6 |
10139398 |
26/12/2008 |
210,000,000.00 |
CITIBANK N. A. |
JEEVAN VIHAR, 3 SANSAD MARG, DELHI, DELHI - 110001, INDIA |
A55469001 |
|
7 |
10059442 |
26/06/2007 |
408,850,000.00 |
HSBC BANK (MAURITIUS) LIMITED |
5TH FLOOR, LES CASCADES BUILDING, EDITH CAVELL STREET, PORT LOUIS, - NA, MAURITIUS |
A18570309 |
|
8 |
80057519 |
04/05/2005 |
572,550,000.00 |
THE HONG KONG AND SHANGHAI BANK CORPORATION LIMITED |
OFFSHORE BANKING UNIT,MAURITIUS SITUATED AT 5TH FR, LES CASCADES BUILD., EDITH CAVELI STREET, PORT LOUIS, - NA, MAURITIUS |
- |
|
9 |
90050714 |
30/06/2004 |
231,533.00 |
PUNJAB NATIONAL BANK |
SEC.37, FARIDABAD, HARYANA, INDIA |
- |
|
10 |
90353239 |
07/05/2004 |
12,500,000.00 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION |
MAURITIUS, MAURITIUS, , MAURITIUS |
- |
FIXED ASSETS
Tangible Assets
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Computer Equipments
· Leasehold Improvements
· Plant and Machinery
Intangible Assets
· Goodwill
· Computer Software
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.62.28 |
|
|
1 |
Rs.103.67 |
|
Euro |
1 |
Rs.85.18 |
INFORMATION DETAILS
|
Information
Gathered by : |
NAY |
|
|
|
|
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 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
- |
|
--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 |
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 |
|
26 |
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.