MIRA INFORM REPORT
|
Report Date : |
18.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
SANMAN TRADE IMPEX PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1410, Maker Chambers V, Nariman Point, Mumbai – 400021,
Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
22.11.1996 |
|
|
|
|
Com. Reg. No.: |
11-104099 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.33.900 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51900MH1996PTC104099 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS27612E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCS2973A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trading and
Distribution of Commodities like Chemicals, Petrochemicals, Solvents, Metals,
Polymers, Paper Products and Pharmaceuticals Products. |
|
|
|
|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 5500000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record. Company has incurred minimal loss from its operation in 2013. However,
networth of the company is strong and healthy. Liquidity position is decent. Trade relations are reported to be fair. Business is active. Payments
are reported to be usually correct. 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.
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 |
ICRA |
|
Rating |
Term Loans: BBB+ |
|
Rating Explanation |
Moderate credit quality and average credit
risk. |
|
Date |
February, 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Non Fund Based Limits: A2+ |
|
Rating Explanation |
Strong of safety and low credit risk. |
|
Date |
February, 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 BY
|
Name : |
Mr. Satish Naidu |
|
Designation : |
Senior Manager – Finance |
|
Contact No.: |
91-22-22850669 |
|
Date : |
17.02.2013 |
LOCATIONS
|
Registered Office : |
1410, Maker Chambers V, Nariman Point, Mumbai – 400021, Maharashtra,
India |
|
Tel. No.: |
91-22-22832170/ 22824444/ 22850669 |
|
Fax No.: |
91-22-22821605/ 22824440 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
701-712-A, Embassy Centre, Nariman Point, Mumbai – 400021,
Maharashtra, India |
|
Tel. No.: |
91-22-22624444/ 33554444 |
|
Fax No.: |
91-22-22824440/ 39412333 |
|
E-Mail : |
DIRECTORS
(AS ON 28.09.2012)
|
Name : |
Mr. Nitinkumar Deendayal Didwania |
|
Designation : |
Director |
|
Address : |
172, Kshitu, 47, Nepeansea Road, Mumbai-400036, Maharashtra, India |
|
Date of Birth/Age : |
23.06.1974 |
|
Date of Appointment : |
12.04.1999 |
|
DIN No.: |
00210289 |
|
|
|
|
Name : |
Mrs. Sushmadevi Deendayal Didwania |
|
Designation : |
Director |
|
Address : |
172, Kshitu, 47, |
|
Date of Birth/Age : |
30.09.1955 |
|
Date of Appointment : |
12.04.1999 |
|
DIN No.: |
00210240 |
|
|
|
|
Name : |
Mr. Dipak Saurabh Sanghvi |
|
Designation : |
Additional Director |
|
Address : |
66, Kamal Building, 69, Walkeshwar Road, Mumbai – 400006, Maharashtra,
India |
|
Date of Birth/Age : |
05.08.1974 |
|
Date of Appointment : |
02.12.2011 |
|
DIN No.: |
02000411 |
|
|
|
|
Name : |
Mr. Saurabh Dipak Sanghavi |
|
Designation : |
Director |
|
Address : |
66, Kamal Builidng, 69, Walkeshwar Road, Mumbai – 400006, Maharashtra,
India |
|
Date of Birth/Age : |
05.08.1974 |
|
Date of Appointment : |
28.09.2012 |
|
DIN No.: |
02000411 |
KEY EXECUTIVES
|
Name : |
Mr. Satish Naidu |
|
Designation : |
Senior Manager – Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 28.09.2012)
|
Names of Shareholders |
|
No.
of Shares |
|
|
|
|
|
Nitinkumar Deendayal Didwania |
|
2999990 |
|
Sushmadevi Deendayal Didwania |
|
10 |
|
|
|
|
|
Total |
|
3,000,000 |
(AS ON 30.09.2013)
|
Names of Allotteess |
|
No. of
Shares Allotted |
|
|
|
|
|
Nitinkumar Deendayal Didwania |
|
389350 |
|
Sushmadevi Deendayal Didwania |
|
650 |
|
|
|
|
|
Total |
|
390000 |
(AS ON 28.09.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading and
Distribution of Commodities like Chemicals, Petrochemicals, Solvents, Metals,
Polymers, Paper Products and Pharmaceuticals Products. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
|||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||
|
Bankers : |
·
State Bank of Indore 214, D N Road, Fort, Mumbai – 400001, Maharashtra, India ·
Punjab National Bank Raheja Chambers, Foreshore Road Branch, Nariman Point, Mumbai –
400021, Maharashtra, India ·
IDBI
Bank Limited IDBI Tower, WTC
Complex, Cuffe Parade, Mumbai – 400005, Maharashtra, India |
|||||||||||||||||||||||||||
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|||||||||||||||||||||||||||
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Facilities : |
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|
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|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Shabbier S. Bagasrawala Chartered Accountants |
|
Address : |
63, Narayan
Niwas, 1st Floor, Aarey
Road, Goregaon (West),Mumbai-400062, Maharashtra, India |
|
PAN No.: |
AACFS5834Q |
|
|
|
|
Associates : |
· Aristo Fincap Private Limited, India ·
Sears Real Estates Private Limited, India |
CAPITAL STRUCTURE
(AS ON 30.09.2013)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9000000 |
Equity Shares |
Rs.10/- each |
Rs.90.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3390000 |
Equity Shares |
Rs.10/- each |
Rs.33.900 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 |
33.900 |
30.000 |
30.000 |
|
(b) Reserves & Surplus |
1,334.308 |
517.839 |
410.361 |
|
(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) |
1,368.208 |
547.839 |
440.361 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
7.997 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
12.418 |
7.824 |
7.579 |
|
(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) |
20.415 |
7.824 |
7.579 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
193.218 |
194.027 |
66.667 |
|
(b) Trade payables |
1,414.904 |
523.491 |
459.425 |
|
(c) Other current liabilities |
19.613 |
13.416 |
6.022 |
|
(d) Short-term provisions |
6.656 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
1,634.391 |
730.934 |
532.114 |
|
|
|
|
|
|
TOTAL |
3,023.014 |
1,286.597 |
980.054 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
43.048 |
28.762 |
27.838 |
|
(ii) Intangible Assets |
646.400 |
0.000 |
0.000 |
|
(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 |
2.596 |
0.660 |
0.985 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
1.225 |
0.190 |
0.000 |
|
Total
Non-Current Assets |
693.269 |
29.612 |
28.823 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
314.023 |
249.977 |
144.918 |
|
(c) Trade receivables |
1,785.764 |
884.025 |
729.933 |
|
(d) Cash and cash equivalents |
166.026 |
96.371 |
50.622 |
|
(e) Short-term loans and
advances |
63.932 |
26.612 |
25.699 |
|
(f) Other current assets |
0.000 |
0.000 |
0.059 |
|
Total
Current Assets |
2,329.745 |
1,256.985 |
951.231 |
|
|
|
|
|
|
TOTAL |
3,023.014 |
1,286.597 |
980.054 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales and Others Income |
7392.300 |
4429.800 |
4012.700 |
|
|
|
TOTAL |
7392.300 |
4429.800 |
4012.700 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
7246.300 |
4312.500 |
3911.200 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
146.000 |
117.300 |
101.500 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
166.400 |
1.900 |
1.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
(20.400) |
115.400 |
99.800 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
6.600 |
7.900 |
9.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
(27.000) |
107.500 |
90.200 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
517.800 |
410.300 |
320.200 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
1334.300 |
517.800 |
410.400 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
853.500 |
467.300 |
NA |
|
|
TOTAL EARNINGS |
853.500 |
467.300 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Traded Goods |
2565.400 |
903.600 |
NA |
|
|
TOTAL IMPORTS |
2565.400 |
903.600 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(7.96) |
35.83 |
30.07 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(0.37)
|
2.43 |
2.25 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.68)
|
8.97 |
10.19 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.01)
|
0.21 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.15
|
0.35 |
0.15 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.43
|
1.72 |
1.79 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
30.000 |
30.000 |
33.900 |
|
Reserves & Surplus |
410.361 |
517.839 |
1,334.308 |
|
Net
worth |
440.361 |
547.839 |
1,368.208 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
7.997 |
|
Short term borrowings |
66.667 |
194.027 |
193.218 |
|
Total
borrowings |
66.667 |
194.027 |
201.215 |
|
Debt/Equity
ratio |
0.151 |
0.354 |
0.147 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Total Income |
4,012.700 |
4,429.800 |
7,392.300 |
|
|
|
10.394 |
66.877 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR) |
(INR) |
(INR) |
|
Sales |
4,012.700 |
4,429.800 |
7,392.300 |
|
Profit |
90.200 |
107.500 |
-27.000 |
|
|
2.25% |
2.43% |
-0.37% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITY
OF LONG TERM BORROWINGS DETAIL:
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
||
|
Current Maturity of Long Term Borrowings |
3.143 |
0.000 |
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 |
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 |
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 |
Yes |
------------------------------------------------------------------------------------------------------------------------------
CASE DETAILS
BENCH: BOMBAY
|
Presentation Date:- |
18/06/2013 |
|
Lodging No.:- |
ARBPL/805/2013 |
Filing Date:- |
18/06/2013 |
Reg. No.:- |
ARBP/972/2013 |
Reg. Date:- |
|
Petitioner:- |
United India
Insurance Company Limited |
Respondent:- |
Sanman Trade
Impex Private Limited |
|
Petn. Adv.:- |
KMC Legal
Venture (0) |
|
|
|
District:- |
MUMBAI |
|
|
|
Bench:- |
SINGLE |
|
|
|
Status:- |
Admitted (Unready) |
Category:- |
ARBITRATION ACT. |
|
Last Date:- |
17/02/2014 |
Stage:- |
ARBP FOR HEARING AND FINAL DISPOSAL U/S 34 |
|
Last Coram:- |
PROVISIONAL BOARD |
|
|
|
Act :- |
Arbitration and Conciliation Act 1996 |
Under Section:- |
34 |
------------------------------------------------------------------------------------------------------------------------------
UNSECURED LOANS
|
Particulars |
31.03.2013 |
31.03.2012 |
|
|
(Rs. In Millions) |
|
|
Short Term Borrowings
|
|
|
|
Loans and advances from directors |
30.190 |
7.048 |
|
|
|
|
|
Total |
30.190 |
7.048 |
WORKING RESULTS
During the year,
the company has achieved turnover of Rs.7392.300 Millions as compared to
Rs.4429.800 Millions during the previous year. The Profit before Depreciation
and Tax has increase by 24.49% amounting to Rs.146.000 Millions as compared to
Rs.117.300 Millions during the previous year. However due to increase in
Depreciation cost the Company has incurred loss of Rs.27.000 Millions as
against profit of Rs.107.500 Millions
during the previous year.
CORPORATE INFORMATION:
The Company is in
the business of Imports, Exports, Trading and Distribution of Chemicals,
Metals, Sheets, Paper, Pharmaceutical products, Paper products, Natural Rubber,
Computer Software Development and Electricity Generation etc.
CONTINGENT LIABILITIES
|
Particulars |
31.03.2013 |
31.03.2012 |
|
|
(Rs. In
Millions) |
|
|
|
|
|
|
Letter of Credit |
57.155 |
0.000 |
|
|
|
|
|
Total |
57.155 |
0.000 |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/ Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10178407 |
01/09/2009 |
22,000,000.00 |
PUNJAB NATIONAL
BANK |
FORESHORE ROAD
BRANCH,, RAHEJA CHAMBERS, NARIMAN |
A69979169 |
|
2 |
10178406 |
31/08/2009 |
22,000,000.00 |
PUNJAB NATIONAL
BANK |
FORESHORE ROAD
BRANCH,, RAHEJA CHAMBERS, NARIMAN |
A69978955 |
|
3 |
10178902 |
07/05/2012 * |
750,000,000.00 |
IDBI Bank
Limited |
IDBI TOWERWTC
COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B39686233 |
|
4 |
10008650 |
07/06/2012 * |
950,000,000.00 |
STATE BANK OF
HYDERABAD |
OVERSEAS BRANCH,
ASHOK MAHAL, 1204, TULLOCH ROAD, |
B42170134 |
|
5 |
90149621 |
29/03/2005 |
2,500,000.00 |
PUNJAB NATIONAL
BANK |
FORESHORE ROAD, MUMBAI,
MAHARASHTRA - 400021, INDIA |
- |
FIXED ASSETS:
· Land
· Building
· Plant and Equipments
· Vehicles
· Motor Vehicles
· Office Equipments
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.61.95 |
|
UK Pound |
1 |
Rs.104.02 |
|
Euro |
1 |
Rs.84.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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.