MIRA
INFORM REPORT
|
Report Date : |
28.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
GUARDIAN CASTINGS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Room No.415, Mahinder Chambers, W T Patil Marg, Opposite Dukes
Factory, Chembur, Mumbai – 400071, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
29.01.2004 |
|
|
|
|
Com. Reg. No.: |
11-144279 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 20.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27310MH2004PTC144279 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMG09977C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCG1913H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Importer of Iron and Steels Bar. |
|
|
|
|
No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 330000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record. The management has failed to file its financial with government
department for the year 2013. As per available financial of 2012, profitability of the company seems
to be fair. Trade relations are reported to be fair. Business is active. Payment
terms are reported to be usually correct The company can be considered for business dealings at usual trade terms
and condition. |
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
01.04.2013
ICRA has suspended its rating BB+ due to lack
of information.
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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Gopal |
|
Designation : |
Office Incharge |
|
Contact No.: |
91-22-25200770 |
|
Date : |
27.02.2014 |
LOCATIONS
|
Registered Office : |
Room No.415, Mahinder Chambers, W T Patil Marg, Opposite Dukes
Factory, Chembur, Mumbai – 400071, Maharashtra, India |
|
Tel. No.: |
91-22-25200770/ 23430060 |
|
Fax No.: |
91-22-55975145 |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Abitgar, Wada- Shahpur Road Gath No. 116 and 120, Post and Village
Wada, Thane – 421303, Maharashtra, India |
|
Tel. No.: |
91-22-67975145 |
|
Fax No.: |
91-22-25205771 |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Shravan Ravinder Aggarwal |
|
Designation : |
Director |
|
Address : |
235, Vijay Bhavan, 10th Road, Chembur, Mumbai – 400071,
Maharashtra, India |
|
Date of Birth/Age : |
05.05.1983 |
|
PAN No. : |
AEKPA3620E |
|
Date of Appointment : |
29.01.2004 |
|
DIN No.: |
01509488 |
|
|
|
|
Name : |
Mr. Sukumaran Nair |
|
Designation : |
Director |
|
Address : |
303, Ajit Apartments, Sarvodaya Nagarm Nahur, Mulund (West), Mumbai –
400080, Maharashtra, India |
|
Date of Birth/Age : |
25.06.1944 |
|
Date of Appointment : |
29.01.2004 |
|
DIN No.: |
01564111 |
|
|
|
|
Name : |
Mr. Ravinder Chimanlal Aggarwal |
|
Designation : |
Additional Director |
|
Address : |
235, Vijay Bhavan, 10th Road, Chembur, Mumbai – 400071,
Maharashtra, India |
|
Date of Birth/Age : |
14.07.1949 |
|
Date of Appointment : |
12.04.2013 |
|
DIN No.: |
01581651 |
KEY EXECUTIVES
|
Name : |
Mr. Gopal |
|
Designation : |
Office Incharge |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Shravan R. Aggarwal |
|
169590 |
|
K.Sukumaran |
|
100 |
|
Sejalben Sardhara |
|
10 |
|
Koonjan Sardhara |
|
10 |
|
Sadhnaben Sardhara |
|
10 |
|
Balubhai Sardhara |
|
10 |
|
Kiran Jotani |
|
10 |
|
Sujata Aggarwal |
|
50 |
|
Kavita Punwani |
|
10 |
|
Anjana Aggarwal |
|
12547 |
|
Ravinder Aggarwal (HUF) |
|
1100 |
|
Ashwin Desai |
|
50 |
|
Kusum M.Aggarwal |
|
1 |
|
Gautam Aggarwal |
|
1 |
|
Siddharth Aggarwal |
|
1 |
|
Ravinder Aggarwal |
|
16500 |
|
Total |
|
200000 |
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
99.92 |
|
Other top fifty shareholders |
0.08 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Importer of Iron and Steels Bar. |
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Products : |
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Imports : |
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Products : |
Scrap |
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Countries : |
·
Dubai ·
USA |
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Terms : |
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Selling : |
Cash / Credit |
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|
Purchasing : |
Cash / Credit |
PRODUCTION STATUS (As on 31.03.2012)
|
Particulars |
Unit |
Actual
Production |
|
MS Ingots / MS Billets |
M. Tons |
34109.016 |
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers and End Users |
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No. of Employees : |
250 (Approximately) |
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Bankers : |
· ING Vysya Bank Limited, No.625, G.D. Somani Memorial School, Cuffe Parade, Mumbai – 400005, Maharashtra, India ·
Oriental Bank of Commerce, Mandvi Branch, Agh
Chambers, 379 / 381 , Narsi Natha Street, Mandvi, Mumbai - 400009,
Maharashtra, India |
||||||||||||||||||
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|
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|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Udyen Jain and Associates Chartered Accountants |
|
Address : |
540, 5th Floor, D wing, Clover Centre, 7 Moledina Road,
Pune – 411001, Maharashtra, India |
|
PAN.: |
AABFU9032D |
|
|
|
|
Subsidiaries /
Associate / Group Companies : |
· Guardian Steels Private Limited · Shravan Steels ·
Shree Satguru Steels |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs.100/- each |
Rs.20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs.100/-
each |
Rs.20.000
Millions |
|
|
|
|
|
Disclosure of
shareholding more than five per cent in company
|
Name of shareholder |
Number of shares held in company |
Percentage of shareholding in company |
|
Shravan Aggarwal |
1,69,590 |
84.80% |
|
Anjana Aggarwal |
12,547 |
6.27% |
|
Ravinder Aggarwal |
16,500 |
8.25% |
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 |
|
20.000 |
12.354 |
|
(b) Reserves & Surplus |
|
62.687 |
55.092 |
|
(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) |
|
82.687 |
67.446 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
141.074 |
73.629 |
|
(b) Deferred tax liabilities (Net) |
|
8.304 |
2.057 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
|
149.378 |
75.686 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
91.143 |
35.910 |
|
(b) Trade payables |
|
93.904 |
38.835 |
|
(c) Other current
liabilities |
|
35.193 |
8.179 |
|
(d) Short-term provisions |
|
18.642 |
35.247 |
|
Total Current Liabilities (4) |
|
238.882 |
118.171 |
|
|
|
|
|
|
TOTAL |
|
470.947 |
261.303 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
170.145 |
35.298 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
71.673 |
|
(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 |
|
0.000 |
0.000 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
170.145 |
106.971 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
175.064 |
37.546 |
|
(c) Trade receivables |
|
18.703 |
33.906 |
|
(d) Cash and cash
equivalents |
|
7.646 |
3.527 |
|
(e) Short-term loans and
advances |
|
99.389 |
79.353 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total Current Assets |
|
300.802 |
154.332 |
|
|
|
|
|
|
TOTAL |
|
470.947 |
261.303 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
12.354 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
43.467 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
55.821 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
39.614 |
|
|
2] Unsecured Loans |
|
|
15.705 |
|
|
TOTAL BORROWING |
|
|
55.319 |
|
|
DEFERRED TAX LIABILITIES |
|
|
2.310 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
113.450 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
39.796 |
|
|
Capital work-in-progress |
|
|
3.604 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
47.766 |
|
|
Sundry Debtors |
|
|
26.217 |
|
|
Cash & Bank Balances |
|
|
2.588 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
38.445 |
|
Total
Current Assets |
|
|
115.016 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
4.351 |
|
|
Other Current Liabilities |
|
|
12.368 |
|
|
Provisions |
|
|
28.247 |
|
Total
Current Liabilities |
|
|
44.966 |
|
|
Net Current Assets |
|
|
70.050 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
113.450 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
1070.299 |
746.074 |
777.075 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
1055.945 Including
Depreciation Expenses |
720.745 |
741.320 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
25.329 |
35.755 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
|
4.796 |
5.557 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
14.439 |
20.533 |
30.198 |
|
|
|
|
|
|
|
|
|
|
TAX |
3.358 |
6.747 |
11.222 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
11.081 |
13.786 |
18.976 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
48.416 |
38.170 |
23.259 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
1.108 |
1.379 |
1.898 |
|
|
|
Dividend |
3.000 |
1.853 |
1.853 |
|
|
|
Tax on Dividend |
0.487 |
0.308 |
0.314 |
|
|
BALANCE CARRIED
TO THE B/S |
54.902 |
48.416 |
38.170 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
309.131 |
101.606 |
238.052 |
|
|
TOTAL IMPORTS |
309.131 |
101.606 |
238.052 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
55.41 |
111.60 |
153.61 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.04
|
1.85 |
2.44 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.07
|
10.83 |
19.51 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17
|
0.30 |
0.54 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.81
|
1.62 |
0.99 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.26 |
1.31 |
2.56 |
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 |
12.354 |
20.000 |
|
Reserves & Surplus |
55.092 |
62.687 |
|
Net
worth |
67.446 |
82.687 |
|
|
|
|
|
long-term borrowings |
73.629 |
141.074 |
|
Short term borrowings |
35.910 |
91.143 |
|
Total
borrowings |
109.539 |
232.217 |
|
Debt/Equity
ratio |
1.624 |
2.808 |
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) |
|
Sales |
777.075 |
746.074 |
1,070.299 |
|
|
|
(3.989) |
43.457 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
777.075 |
746.074 |
1070.299 |
|
Profit |
18.976 |
13.786 |
11.081 |
|
|
2.44% |
1.85% |
1.04% |
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 |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
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 |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Long-Term
Borrowings |
|
|
|
Loans and advances from related parties |
15.317 |
18.539 |
|
Other loans and advances, others |
35.302 |
5.402 |
|
Total |
50.619 |
23.941 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10350717 |
29/02/2012 |
160,000,000.00 |
ING VYSYA BANK LIMITED |
NO.625, G.D. SOMANI MEMORIAL SCHOOL,, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B37876497 |
|
2 |
10323936 |
13/07/2013 * |
474,269,000.00 |
ING VYSYA BANK LIMITED |
NO.625, G.D. SOMANI MEMORIAL SCHOOL,, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B83456483 |
* Date of charge modification
FIXED ASSETS:
· Land – Freehold
· Factory Building
· Plant and Machinery
· Vehicles
· Computers
AS PER WEBSITE
PRESS RELEASE
SECRET FUNDING HELPED
BUILD VAST NETWORK OF CLIMATE DENIAL THINKTANKS
Anonymous billionaires donated $120m to more than 100 anti-climate groups working to discredit climate change science
The
Guardian, Thursday 14 February 2013
Conservative billionaires used a secretive funding route to channel nearly $120m (£77m) to more than 100 groups casting doubt about the science behind climate change, the Guardian has learned.
The funds, doled out between 2002 and 2010, helped build a vast network of thinktanks and activist groups working to a single purpose: to redefine climate change from neutral scientific fact to a highly polarising "wedge issue" for hardcore conservatives.
The millions were routed through two trusts, Donors Trust and the Donors Capital Fund, operating out of a generic town house in the northern Virginia suburbs of Washington DC. Donors Capital caters to those making donations of $1m or more.
Whitney Ball, chief executive of the Donors Trust told the Guardian that her organisation assured wealthy donors that their funds would never by diverted to liberal causes.
"We exist to help donors promote liberty which we understand to be limited government, personal responsibility, and free enterprise," she said in an interview.
By definition that means none of the money is going to end up with groups like Greenpeace, she said. "It won't be going to liberals."
Ball won't divulge names, but she said the stable of donors represents a wide range of opinion on the American right. Increasingly over the years, those conservative donors have been pushing funds towards organisations working to discredit climate science or block climate action.
Donors exhibit sharp differences of opinion on many issues, Ball said. They run the spectrum of conservative opinion, from social conservatives to libertarians. But in opposing mandatory cuts to greenhouse gas emissions, they found common ground.
"Are there both sides of an environmental issue? Probably not," she went on. "Here is the thing. If you look at libertarians, you tend to have a lot of differences on things like defence, immigration, drugs, the war, things like that compared to conservatives. When it comes to issues like the environment, if there are differences, they are not nearly as pronounced."
By 2010, the dark money amounted to $118m distributed to 102 thinktanks or action groups which have a record of denying the existence of a human factor in climate change, or opposing environmental regulations.
The money flowed to Washington thinktanks embedded in Republican party politics, obscure policy forums in Alaska and Tennessee, contrarian scientists at Harvard and lesser institutions, even to buy up DVDs of a film attacking Al Gore.
The ready stream of cash set off a conservative backlash against Barack Obama's environmental agenda that wrecked any chance of Congress taking action on climate change.
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 records exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l Anti-Money
Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.94 |
|
|
1 |
Rs.103.31 |
|
Euro |
1 |
Rs.85.11 |
INFORMATION DETAILS
|
Information
Gathered by : |
NAY |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & 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 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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.