MIRA
INFORM REPORT
|
Report Date : |
15.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
TORQUE PHARMACEUTICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
693, Phase II, Industrial Area, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
20.08.1986 |
|
|
|
|
Com. Reg. No.: |
53-007151 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 7.113 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24119CH1986PTC007151 (New) U24230CH1986PTC007151 (Old) |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PTLT11436F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCT1244P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Pharmaceuticals Products. |
|
|
|
|
No. of Employees
: |
Not Available [We tried to
confirm the number of employees but no one is ready to part any information
from the company management] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1600000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Networth of the company is good. The rating also take into consideration the company’s established
position in pharmaceutical industry. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitment. The company can be considered normal 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.
ECGC Country Risk Classification List – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
The 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: “BBB” |
|
Rating Explanation |
Moderate degree of safety. It carry moderate
credit risk. |
|
Date |
24.12.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: “A3+” |
|
Rating Explanation |
Moderate degree of safety. It carry higher
credit risk. |
|
Date |
24.12.2013 |
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 DECLINED
Management non-cooperative (Tel. No.: 91-172-4991500)
LOCATIONS
|
Registered Office : |
693, Phase II, Industrial Area, Chandigarh – 160002, India |
|
Tel. No.: |
91-172-2653674 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
250 Sq. yards |
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
232-34, Sector 34-A, |
|
Tel. No.: |
91-172-4991500 |
|
Fax No.: |
91-172-2623954 |
|
E-Mail : |
|
|
|
|
|
Factory 1 : |
Issapur, P. O. Dappar – 140506, |
|
Tel. No.: |
91-1762-280383 |
|
Fax No.: |
91-1762-281451 |
|
E-Mail : |
|
|
Area : |
10000 Sq. fts. |
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
13-B-14, EPIP, Jharmajri, Baddi, Himachal Pradesh, India |
|
Tel. No.: |
91-1795-271274 |
|
Fax No.: |
91-1795-271086 |
|
E-Mail : |
|
|
Area : |
4800 Sq. yards |
|
Location : |
Owned |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Paramjit Singh Chhatwal |
|
Designation : |
Managing director |
|
Address : |
117, Sector 36 A, Chandigarh – 160036, India |
|
Date of Birth/Age : |
05.10.1951 |
|
Date of Appointment : |
23.08.1989 |
|
PAN No.: |
AAKPC9485D |
|
DIN No.: |
00434245 |
|
|
|
|
Name : |
Mr. Amar Iqbal Singh Bedi |
|
Designation : |
Director |
|
Address : |
422, Sector 36 A, Chandigarh – 160036, India |
|
Date of Birth/Age : |
14.04.1965 |
|
Date of Appointment : |
23.08.1989 |
|
PAN No.: |
AARPB0738K |
|
DIN No.: |
00434179 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Paramjit Singh Chhatwal |
|
161501 |
|
Amar Iqbal Singh Bedi |
|
247301 |
|
Savneet Kaur |
|
2000 |
|
Gurbachan Kaur |
|
1500 |
|
H. S. Tuli |
|
4500 |
|
Rami Tuli |
|
25500 |
|
Mandeep Singh |
|
54500 |
|
Tarun Preet |
|
1500 |
|
Cupid Healthcare Private Limited, India |
|
109000 |
|
Maniqa Investments Private Limited, India |
|
104000 |
|
Dalit Singh Gill |
|
1 |
|
Inderjit Kaur |
|
1 |
|
Urmila Jain |
|
1 |
|
Lt. Colonel Gulab Singh Rawat |
|
1 |
|
Lt. Colonel Y.P. Sharma |
|
1 |
|
|
|
|
|
Total |
|
711307 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
29.94 |
|
Directors or relatives of directors |
|
70.05 |
|
Other top fifty shareholders |
|
0.01 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Pharmaceuticals Products. |
|
|
|
|
Products: |
· Ketomac · Hair Oil · Aceton MR · Ticin Plus · Hemoplus XT |
GENERAL INFORMATION
|
No. of Employees : |
Not Available [We tried to confirm
the number of employees but no one is ready to part any information from the
company management] |
|||||||||||||||||||||||||||
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Bankers : |
· Small Industries Development Bank of India, Sector 145-146, Sector 17-C, Chandigarh - 160017, Chandigarh, India · HDFC Bank Limited, Sector 405-406 Sector 35-C, Chandigarh - 160036, Chandigarh, India · State Bank of India, SME Branch, Sector 17, Chandigarh, Chandigarh - 160017, India |
|||||||||||||||||||||||||||
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|||||||||||||||||||||||||||
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Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
V Gupta and Associates Chartered Accountants |
|
Address : |
D -14 Caliber Marke T Rajpura |
|
PAN No.: |
ABGPG2975F |
CAPITAL STRUCTURE
As on: 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
711307 |
Equity Shares |
Rs.10/- each |
Rs. 7.113
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 |
7.113 |
7.113 |
7.113 |
|
(b) Reserves & Surplus |
415.357 |
352.140 |
300.232 |
|
(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) |
422.470 |
359.253 |
307.345 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
162.582 |
195.271 |
176.541 |
|
(b) Deferred tax liabilities
(Net) |
6.131 |
1.624 |
0.031 |
|
(c) Other long term
liabilities |
35.091 |
9.820 |
14.387 |
|
(d) long-term provisions |
4.933 |
4.443 |
3.903 |
|
Total
Non-current Liabilities (3) |
208.737 |
211.158 |
194.862 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
207.486 |
133.553 |
76.369 |
|
(b) Trade payables |
324.763 |
236.828 |
246.795 |
|
(c) Other current liabilities |
125.470 |
97.644 |
59.181 |
|
(d) Short-term provisions |
20.876 |
16.843 |
14.314 |
|
Total
Current Liabilities (4) |
678.595 |
484.868 |
396.659 |
|
|
|
|
|
|
TOTAL |
1309.802 |
1055.279 |
898.866 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
555.317 |
208.477 |
217.228 |
|
(ii) Intangible Assets |
13.879 |
13.861 |
13.823 |
|
(iii) Capital work-in-progress |
0.000 |
309.495 |
251.318 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.025 |
0.025 |
0.025 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
4.898 |
7.447 |
3.213 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
574.119 |
539.305 |
485.607 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
183.561 |
95.701 |
63.704 |
|
(c) Trade receivables |
477.001 |
358.235 |
298.114 |
|
(d) Cash and cash equivalents |
21.895 |
20.820 |
13.953 |
|
(e) Short-term loans and
advances |
53.226 |
41.218 |
37.488 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
735.683 |
515.974 |
413.259 |
|
|
|
|
|
|
TOTAL |
1309.802 |
1055.279 |
898.866 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
SALES |
|
|
|
|
|
Turnover |
1412.990 |
1110.561 |
1030.964 |
|
|
Other Income |
NA |
NA |
NA |
|
|
TOTAL
(A) |
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL
(B) |
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION
(C) |
163.828 |
112.522 |
83.523 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES
(D) |
56.700 |
29.397 |
10.885 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
107.128 |
83.125 |
72.638 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
20.946 |
14.395 |
12.389 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
86.182 |
68.730 |
60.249 |
|
|
|
|
|
|
|
Less |
TAX (H) |
21.724 |
15.589 |
15.359 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (I-H) (J) |
64.458 |
53.141 |
44.890 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
NA |
NA |
3.886 |
|
|
|
|
|
|
|
|
IMPORTS |
2.766 |
8.621 |
NA |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
90.61 |
74.71 |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.58 |
9.21 |
9.31 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20 |
0.19 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.88 |
0.91 |
0.82 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.09 |
1.07 |
1.04 |
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 |
7.113 |
7.113 |
7.113 |
|
Reserves & Surplus |
300.232 |
352.140 |
415.357 |
|
Net
worth |
307.345 |
359.253 |
422.470 |
|
|
|
|
|
|
long-term borrowings |
176.541 |
195.271 |
162.582 |
|
Short term borrowings |
76.369 |
133.553 |
207.486 |
|
Total
borrowings |
252.910 |
328.824 |
370.068 |
|
Debt/Equity
ratio |
0.823 |
0.915 |
0.876 |
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) |
|
Turnover |
1,030.964 |
1,110.561 |
1,412.990 |
|
|
|
7.721 |
27.232 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Turnover |
1,030.964 |
1,110.561 |
1,412.990 |
|
Profit |
44.890 |
53.141 |
64.458 |
|
|
4.35% |
4.79% |
4.56% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
Long term
borrowings |
|
|
|
Loans and advances from others |
2.980 |
2.980 |
|
Loans and advances from directors |
20.425 |
20.425 |
|
|
|
|
|
Total |
23.405 |
23.405 |
OPERATIONS AND
PROJECTS:
The Company has commenced the commercial operations of its spinning unit at Baddi in 2012-13. The Company has launched various new products like Ketomac Hair Oil, Aceton MR, Ticin Plus, Hemoplus XT. The Company has also changed its distribution network by opening depots at various locations to sell the goods directly to the stockiests. The Company has shifted its banking from HDFC Bank and Indusind Bank to State Bank of India and have increased the CC Limits from Rs. 125.000 millions to 170.000 millions in the financial year 2012-13.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10448704 |
03/09/2013 |
10,000,000.00 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
SCO 145- 146, 1ST AND 2ND FLOOR, SECTOR 17 C, CHANDIGARH, CHANDIGARH - 160017, INDIA |
B84847144 |
|
2 |
10397471 |
08/10/2013 * |
299,200,000.00 |
STATE BANK OF INDIA |
SME BRANCH, SECTOR 17, CHANDIGARH, CHANDIGARH - 160017, INDIA |
B86778586 |
|
3 |
10343912 |
28/03/2012 |
50,000,000.00 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
SCO NO 145 -146 , POST BOX NO 92, SECTOR 17 C, |
B35711159 |
|
4 |
10304361 |
30/08/2011 |
50,000,000.00 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
SCO 145-146, SECTOR 17-C, CHANDIGARH, CHANDIGARH - 160017, INDIA |
B19688712 |
|
5 |
10261276 |
18/01/2011 |
20,000,000.00 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
SCO 145-146, FIRST & SECOND FLOOR, SECTOR 17-C,
C |
B03791746 |
|
6 |
10245806 |
27/10/2010 |
7,500,000.00 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
SCO 145-146, SECTOR 17C, CHANDIGARH, CHANDIGARH, |
A97344311 |
|
7 |
10236459 |
27/08/2010 |
50,000,000.00 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
SCO 145-146, 1ST AND 2ND FLOORS, SECTOR 17C, CHANDIGARH, CHANDIGARH - 160017, INDIA |
A93671212 |
|
8 |
10140932 |
20/01/2009 |
3,000,000.00 |
DY. DIRECTOR OF INDUSTRIES |
SINGLE WINDOW CLEARANCE AGENCY, DEPARTMENT OF INDUSTRIES, BADDI, HIMACHAL PRADESH - 173205, INDIA |
A56001894 |
|
9 |
10133528 |
01/12/2008 |
5,000,000.00 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
SCO: 145-146, SECTOR 17-C, CHANDIGARH, CHANDIGARH |
A52765591 |
|
10 |
10080886 |
18/12/2007 |
5,000,000.00 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
SIDBI TOWER, 15, ASHOK MARG, LUCKNOW, UTTAR PRADESH - 226001, INDIA |
A29328259 |
|
11 |
90183471 |
08/08/2005 |
30,000,000.00 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
SIDBI TOWERS; 15, ASHOKA MARG, LUCKNOW, UTTAR PRADESH, INDIA |
- |
* Date of charge modification
FIXED ASSETS
· Land and Buildings
· Office building
· Factory building
· Plant and equipment
· Factory equipment’s
· Furniture and fixtures
· Vehicles
· Office equipment
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 : |
NYA |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
|
50 |
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.