MIRA
INFORM REPORT
|
Report Date : |
07.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
GLATT SYSTEMS PRIVATE LIMITED (w.e.f. 21.05.2013) |
|
|
|
|
Formerly Known
As : |
ZIEMANN INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
2nd
Floor, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
21.08.2007 |
|
|
|
|
Com. Reg. No.: |
25-130591 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.367.000
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29299PN2007FTC130591 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEZ01914D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACZ3001B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is
engaged in the business of manufacture and distribution of machines, equipment,
apparatus, plant and goods of all types and, in particular, for the brewing, beverage
and food industries; providing consulting, designing, engineering,
supervisory, erection, installation, commissioning, project management
services for the plants/ equipment/ machinery/ processes; sale/ supply of
spare parts; undertaking construction/ setting-up of complete breweries on a
turnkey basis. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (13) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. Management of the company has failed to file its financial for the
year 2013 with the Government Department. As per the available financial (2012), the networth of the company has
been eroded due to continuous accumulated loss incurred from its operations. However, trade relations are reported as fair. Business is active.
Payment terms are reported to be slow. The company can be considered for business dealings on safe and
secured trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
The services sector, the largest contributor to India’s GDP, contracted
for the sixth consecutive month in December, as orders dipped. However, hiring
has risen. Direct tax collections rose 12.3 % during the April – December
period of the current financial year. The government has decided to
retain 100 per cent foreign direct investment in both greenfield (new) and
brown field (existing) pharmaceutical companies, despite concerns over genetic
drugs going out of production, if multi-national companies take over domestic
ones. In M&A deals, a non compete clause would not be allowed, except in
special circumstances. The Department of Industrial Policy and Promotion plans
to release the next edition of its consolidated foreign direct investment
policy document on March 31, incorporating changes made in the past year. DIPP
compiles all policies related to India’s FDI regime into a single document to
make it easy for investors to understand. 185 million estimated number of
mobile internet users in India by June 2014, according to a report by the
Internet & Mobile Association of India and IMRB International. India
had 110 million mobile internet users with 25 million in rural areas. $3.77 tn
estimated global IT spending in 2014, according to research firm Gartner Inc.
The growth forecast for this year is cut to 3.1 %from the earlier estimate of
3.5 %. The spending growth forecast for telecom services – a segment that accounts
for more than 40 % at total IT spending – from 1.9 per cent to 1.2 per cent is
the main reason for this overall IT cut. A Reserve Bank of India committee has
recommended setting up a special category of lenders who would cater to small
businesses and households, to expand the number of customers with access to
banking services. These banks would focus onproviding payment services and
deposit products. Indian banks want the free use of automated teller
machines to be capped at five transactions in a month including that of the
bank in which the account is active. This follows state government order to
banks to install security guards at ATM booths after a woman banker was
assaulted in Bangalore. The government is likely to present a vote on Account
in mid-February. The annual Economic Survey will be tabled later in Parliament
along with the full Budget. A full Budget for 2014/15 is likely to be present
in July by the new government formed after the General Election. The government
will soon launch an internet spy system, called Netra, to detect malafide
messages. Security agency will deploy the system to capture dubious voice
traffic on applications such as Skype and Google Talk, as well as tweeters.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
|
Name : |
Mr. Vishnu Dike |
|
Designation : |
Logistics Department |
|
Contact No.: |
91-20-66286100 |
|
Date : |
06.02.2014 |
LOCATIONS
|
Registered Office : |
2nd
Floor, Connaught Place, CTS # 28, Bund Garden Road, Pune – 411 001,
Maharashtra, India |
|
Tel. No.: |
91-20-66286100
(Office Line) 91-20-66286133
(Direct Line) |
|
Fax No.: |
91-20-66286120 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Gat No.321/2, 322/1, 324/1 and 324/2, Pune Ahmednagar Road, Village
Kondhapuri, Taluka Shirur, District Pune – 412 209, Maharashtra, India |
|
Tel. No.: |
91-2137-616758 (Factory Line) 91-2137-616700 (Direct
Line) |
|
Fax No.: |
91-2137-616726 |
|
E-Mail : |
|
|
|
|
|
Sales Office : |
A-301/302, Citi Point,
J.B. Nagar, Andheri-Kurla Road, Andheri (East), Mumbai – 400 059,
Maharashtra, India |
|
Tel. No.: |
91-22-40740801
(Direct Line) |
|
E-Mail : |
DIRECTORS
AS ON 31.12.2012
|
Name : |
Mr. Thomas Josef Rutka |
|
Designation : |
Managing Director |
|
Address : |
Blumesntra Be 3 Heckfeld 97922, Lauda Konigshofen |
|
Date of Birth/Age : |
21.02.1964 |
|
Date of Appointment : |
26.05.2011 |
|
DIN No.: |
03534790 |
|
|
|
|
Name : |
Mr. Marc Clauss |
|
Designation : |
Director |
|
Address : |
16C, Route de, Rimsdorf, Domfessel, F67430, |
|
Date of Birth/Age : |
13.03.1954 |
|
Qualification : |
B.Com, ACA, ACS. |
|
Date of Appointment : |
21.08.2007 |
|
DIN No.: |
01508906 |
|
|
|
|
Name : |
Mr. Klaus Albrecht Gehrig |
|
Designation : |
Director |
|
Address : |
Adolf-Wilhelm-Nefflen-Weg 1/2, Steinheim, D71711, Germany |
|
Date of Birth/Age : |
11.07.1968 |
|
Date of Appointment : |
21.08.2007 |
|
DIN No.: |
01512817 |
|
|
|
|
Name : |
Reinhard Otto Adolf Nowak |
|
Designation : |
Director |
|
Address : |
IM Schlattgarten 26, Binzen
79589 |
|
Date of Birth/Age : |
24.05.1950 |
|
Date of Appointment : |
30.11.2013 |
|
DIN No.: |
03332872 |
|
|
|
|
Name : |
Jesko Jay Nowak |
|
Designation : |
Director |
|
Address : |
Baselblick 15, Kandern 79400 |
|
Date of Birth/Age : |
22.06.1984 |
|
Date of Appointment : |
30.11.2013 |
|
DIN No.: |
03360123 |
|
|
|
|
Name : |
Markus Frank Hoefliger |
|
Designation : |
Director |
|
Address : |
Landhausstrasse 24, Ortsteil Heutensbach, Allmersbachim Tal 71573 |
|
Date of Birth/Age : |
07.01.1966 |
|
Date of Appointment : |
30.11.2013 |
|
DIN No.: |
06411744 |
KEY EXECUTIVES
|
Name : |
Mr. Vishnu Dike |
|
Designation : |
Logistics Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.12.2012
|
Names of Shareholders |
|
No. of Shares |
|
A. Ziemann GmbH, Germany |
|
366861 |
|
Marc Clauss |
|
139 |
|
Total |
|
367000 |
AS ON 12.05.2013
|
Names of Allottee |
|
No. of Shares |
|
Northstar Capital Investment GmbH, Germany |
|
133000 |
|
Total |
|
133000 |
AS ON 31.12.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
99.96 |
|
Directors
or relatives of directors |
|
0.04 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is
engaged in the business of manufacture and distribution of machines, equipment,
apparatus, plant and goods of all types and, in particular, for the brewing,
beverage and food industries; providing consulting, designing, engineering,
supervisory, erection, installation, commissioning, project management
services for the plants/ equipment/ machinery/ processes; sale/ supply of
spare parts; undertaking construction/ setting-up of complete breweries on a
turnkey basis. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
Deutsche Bank, Branch Aundh,
Pune, Maharashtra, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
DEG - DEUTSCHE
INVESTITIONS - Und Entwicklungsgesellschaft MBH Kaemmergasse 22, Federal
Republic of Germany, Cologne - 50676, Germany |
|
|
|
|
Auditors : |
|
|
Name : |
BBSR and Company Chartered Accountants |
|
Address : |
703, Godrej Castlemaine, 7th Floor, Bund Garden Road,
Pune – 411 001, Maharashtra, India |
|
PAN No.: |
AAKFB4397F |
|
|
|
|
Holding Company : |
A. Ziemann GmbH, Ludwigsburg, Germany |
|
|
|
|
Fellow
Subsidiaries : |
·
Ziemann Ludwigsburg, GmbH, Germany ·
Ziemann+ Bauer, GmbH, Germany ·
Ziemann Services, GmbH ·
Ziemann Insulations Private Limited ·
Ziemann-BMS Maschinenfabrik GmbH |
CAPITAL STRUCTURE
AFTER 31.12.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.1000/- each |
Rs.500.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.1000/- each |
Rs.500.000 millions |
|
|
|
|
|
AS ON 31.12.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.1000/- each |
Rs.500.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
367000 |
Equity Shares |
Rs.1000/- each |
Rs.367.000
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 |
|
367.000 |
367.000 |
|
(b) Reserves & Surplus |
|
(750.210) |
(395.077) |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
(383.210) |
(28.077) |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
121.358 |
139.292 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long
term liabilities |
|
0.000 |
0.000 |
|
(d) Long-term
provisions |
|
3.998 |
2.964 |
|
Total Non-current
Liabilities (3) |
|
125.356 |
142.256 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
531.753 |
427.134 |
|
(b)
Trade payables |
|
360.561 |
307.797
|
|
(c)
Other current liabilities |
|
274.424 |
139.450
|
|
(d) Short-term
provisions |
|
79.432 |
17.653
|
|
Total Current
Liabilities (4) |
|
1246.170 |
892.034 |
|
|
|
|
|
|
TOTAL |
|
988.316 |
1006.213 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
378.305 |
420.325 |
|
(ii)
Intangible Assets |
|
3.039 |
5.519 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.475 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
22.501 |
27.737 |
|
(e) Other
Non-current assets |
|
1.087 |
1.087 |
|
Total Non-Current
Assets |
|
404.932 |
455.143 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
258.572 |
232.527
|
|
(c)
Trade receivables |
|
216.049 |
192.739
|
|
(d) Cash
and cash equivalents |
|
16.074 |
21.584
|
|
(e)
Short-term loans and advances |
|
81.898 |
94.967 |
|
(f)
Other current assets |
|
10.791 |
9.253 |
|
Total
Current Assets |
|
583.384 |
551.070 |
|
|
|
|
|
|
TOTAL |
|
988.316 |
1006.213 |
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
367.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(199.507) |
|
|
NETWORTH |
|
|
167.493 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
102.925 |
|
|
2] Unsecured Loans |
|
|
247.574 |
|
|
TOTAL BORROWING |
|
|
350.499 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
517.992 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
469.115 |
|
|
Capital work-in-progress |
|
|
0.049 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
63.670
|
|
|
Sundry Debtors |
|
|
2.413
|
|
|
Cash & Bank Balances |
|
|
12.451
|
|
|
Other Current Assets |
|
|
0.112
|
|
|
Loans & Advances |
|
|
79.947
|
|
Total
Current Assets |
|
|
158.593 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
89.684
|
|
|
Other Current Liabilities |
|
|
18.486
|
|
|
Provisions |
|
|
1.595
|
|
Total
Current Liabilities |
|
|
109.765 |
|
|
Net Current Assets |
|
|
48.828
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
517.992 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
760.133 |
47.150 |
|
|
|
Other Income |
|
|
25.560 |
|
|
|
TOTAL |
855.132 |
760.133 |
72.710 |
|
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
|
|
Office Expenses |
1158.858 |
902.794 |
157.080 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
1158.858 |
902.794 |
157.080 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
(303.726) |
(142.661) |
(84.370) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
51.407 |
52.833 |
42.490 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(355.133) |
(195.494) |
(126.860) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.076 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(355.133) |
(195.570) |
(126.860) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB value of exports |
73.121 |
23.062 |
20.486 |
|
|
TOTAL EARNINGS |
73.121 |
23.062 |
20.486 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials, Components and Spare Parts |
NA |
413.416 |
13.752 |
|
|
|
Capital Goods |
NA |
3.649 |
55.531 |
|
|
TOTAL IMPORTS |
NA |
417.065 |
69.283 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(967.66) |
(532.89) |
(345.68) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(41.53) |
(25.73)
|
(174.47)
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA |
NA
|
(269.05)
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(35.93) |
(19.44)
|
(20.21)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.93 |
6.96
|
(0.75)
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
(1.70) |
(20.17)
|
2.09
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.47 |
0.62
|
1.44
|
LOCAL AGENCY FURTHER INFORMATION
Details of Current
maturities of long-term debt:
|
Particulars |
31.03.2012 (Rs.
in millions) |
31.03.2011 (Rs.
in millions) |
31.03.2010 (Rs.
in millions) |
|
Current maturities of long-term debt |
28.355 |
0.000 |
NA |
|
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 |
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 |
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10181926 |
07/10/2009 |
177,375,000.00 |
DEG - DEUTSCHE
INVESTITIONS - UND ENTWICKLUNGSGESELLSCHAFT MBH |
KAEMMERGASSE 22,
FEDERAL REPUBLIC OF GERMANY, COLOGNE, - 50676, GERMANY |
A71635403 |
|
Unsecured Loans |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
SHORT-TERM BORROWINGS |
|
|
|
Rupee term loans from banks |
|
|
|
Cash Credit |
429.655 |
179.289 |
|
Working capital loans from banks |
0.000 |
10.000 |
|
Other loans and advances |
|
|
|
Buyer's Credit |
58.951 |
233.619 |
|
Packing Credit |
43.147 |
4.226 |
|
Total
|
531.753 |
427.134 |
Note
The registered office of the company has been shifted from 706, B Wing, 7th Floor, ICC Trade Tower, Senapati Bapat Road, Pune – 411 016, Maharashtra, India to the present address w.e.f. 19.11.2007.
FIXED ASSETS
Tangible Assets
·
Land
·
Buildings
·
Plant and Machinery
·
Furniture and Fixtures
·
Vehicles
·
Leasehold Improvements
·
Office Equipment
Intangible assets
·
Computer Software
·
Copyrights, Patents and
Other Operating Rights
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.62.50 |
|
|
1 |
Rs.101.92 |
|
Euro |
1 |
Rs.84.50 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
1 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
13 |
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.