MIRA
INFORM REPORT
|
Report Date : |
28.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
JAY CEE ENTERPRISES PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
JAY CEE INDUSTRIAL CONSULTANTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
E-357, Greater Kailash II, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
20.07.1987 |
|
|
|
|
Com. Reg. No.: |
55-028666 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.9.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1987PTC028666 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELJ04282F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACJ1324K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader and Importer of Garments related Machines and Air
Conditioners. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (12) |
|
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 and delayed |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. There appears huge accumulated losses during 2013 due to which the networth
of the company has been eroded. However, Business is active. Payment terms are slow and delayed. The company can be considered for business dealings on a 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.
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 |
CRISIC |
|
Rating |
Long Term Rating = D |
|
Rating Explanation |
Default or are expected to be in default soon |
|
Date |
10.10.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = D |
|
Rating Explanation |
Default or are expected to be in default on maturity. |
|
Date |
10.10.2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DENIED BY
|
Name : |
Mr. Ajay Malhotra |
|
Designation : |
Director |
|
Contact No.: |
91-11-41613736 |
|
Date : |
26.02.2013 |
LOCATIONS
|
Registered Office : |
E-357, Greater Kailash II, New Delhi - 110 048, India |
|
Tel. No.: |
91-11-41613736 / 3860 / 4351 |
|
Fax No.: |
91-11-41613738 |
|
E-Mail : |
jaycee.commercial@airtelmail.in jaycee.commercial@touchtelindia.net |
|
Website : |
|
|
Area : |
1500 sq. ft. |
|
|
|
|
Head Office/ Corporate Office : |
Faqir Udyog, A-61/1, Okhla Industrial Area, Phase – II, New Delhi – 110 020, India |
|
Tel. No.: |
91-11-41616490 (3 Hunting Line)/ 26383611/ 26386847/ 41613736/ 3860/ 6348/ 6490 |
|
Fax No.: |
91-11-41613738/ 41613739 |
|
E-Mail : |
|
|
|
|
|
Branch Office : |
Located
at: ·
Bangalore ·
Chennai · Jaipur ·
Kanpur · Ludhiana ·
Secunderabad |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Ajay Kumar Malhotra |
|
Designation : |
Director |
|
Address : |
E-357, Greater Kailash - II, New Delhi - 110 048, India |
|
Date of Birth/Age : |
18.12.1958 |
|
Date of Appointment : |
01.02.1999 |
|
DIN No.: |
00769347 |
|
|
|
|
Name : |
Mrs. Sudarashan Malhotra |
|
Designation : |
Director |
|
Address : |
E-357, Greater Kailash - II, New Delhi - 110 048, India |
|
Date of Birth/Age : |
16.09.1936 |
|
Date of Appointment : |
20.07.1987 |
|
DIN No.: |
00770043 |
|
|
|
|
Name : |
Mr. Jagdish Chander Malhotra |
|
Designation : |
Managing Director |
|
Address : |
E-357, Greater Kailash - II, New Delhi - 110 048, India |
|
Date of Birth/Age : |
10.10.1932 |
|
Date of Appointment : |
20.07.1987 |
|
DIN No.: |
01216609 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Name
of Shareholders |
No.
of Shares |
Percentage
of Holding |
|
|
84400 |
93.78 |
|
|
2100 |
2.33 |
|
Bharati Malhotra |
750 |
0.83 |
|
Ajay Malhotra |
700 |
0.78 |
|
Rakhee Khanna |
850 |
0.94 |
|
Vibha Kapoor |
900 |
1.00 |
|
Rajinder Nath Seth |
100 |
0.11 |
|
Sharavan Kumar Shanan |
100 |
0.11 |
|
Praveeen Juneja |
100 |
0.11 |
|
Total |
90,000 |
100.00 |
As on: 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Garments related Machines and Air Conditioners. |
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|
Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
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Bankers : |
· Corporation Bank, M-3 and 4, Greater Kailash-II, New Delhi - 110 048, India · ICICI Bank Limited · Corporation Bank |
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|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Jain and Malhotra Chartered Accountants |
|
Address : |
42-B, Hanuman Lane, Connaught Place, Delhi – 110 001, India |
|
Tel. No.: |
91-11-23367488/ 23347494/ 23363714 91-11-22375518/ 26017234 (Residential) |
|
E-Mail : |
|
|
PAN No.: |
AABFJ6391E |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
90000 |
Equity Shares |
Rs.100/-
each |
Rs.9.000
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 |
9.000 |
9.000 |
4.000 |
|
(b) Reserves & Surplus |
(37.187) |
(23.085) |
(8.248) |
|
(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) |
(28.187) |
(14.085) |
(4.248) |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
77.748 |
77.575 |
73.604 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
4.319 |
4.105 |
4.098 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
82.067 |
81.680 |
77.702 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
5.433 |
10.372 |
4.440 |
|
(c) Other current liabilities |
18.211 |
9.499 |
10.791 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
23.644 |
19.871 |
15.231 |
|
|
|
|
|
|
TOTAL |
77.524 |
87.466 |
88.685 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
14.873 |
16.001 |
15.458 |
|
(ii) Intangible Assets |
0.000 |
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 |
0.000 |
0.000 |
0.000 |
|
(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 |
4.917 |
4.059 |
5.761 |
|
Total
Non-Current Assets |
19.790 |
20.060 |
21.219 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
44.733 |
49.913 |
43.014 |
|
(c) Trade receivables |
6.053 |
8.141 |
12.916 |
|
(d) Cash and cash equivalents |
1.217 |
2.502 |
3.080 |
|
(e) Short-term loans and
advances |
0.000 |
0.000 |
0.000 |
|
(f) Other current assets |
5.731 |
6.850 |
8.456 |
|
Total
Current Assets |
57.734 |
67.406 |
67.466 |
|
|
|
|
|
|
TOTAL |
77.524 |
87.466 |
88.685 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
0.448 |
0.596 |
88.213 |
|
|
|
Other Income |
NA |
NA |
8.565 |
|
|
|
TOTAL |
NA |
NA |
96.778 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
NA |
|
102.054 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
102.054 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
(14.102) |
(14.837) |
(5.276) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(14.102) |
(14.837) |
(5.276) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
1.211 |
1.311 |
4.585 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(156.69) |
(16.49) |
(131.90) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
NA
|
NA |
(5.45) |
|
|
|
|
|
|
|
Net Profit
Margin (PBT/Sales) |
(%) |
(3147.77) |
(2489.43) |
(5.65) |
|
|
|
|
|
|
|
Return on Total
Assets (PBT/Total
Assets} |
(%) |
(18.19) |
(16.96) |
(5.95) |
|
|
|
|
|
|
|
Return on
Investment (ROI) (PBT/Networth) |
|
0.50 |
1.05 |
1.24 |
|
|
|
|
|
|
|
Debt Equity
Ratio (Total
Liability/Networth) |
|
(2.76) |
(5.51) |
(17.33) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current
Liability) |
|
2.44 |
3.39 |
4.43 |
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 |
4.000 |
9.000 |
9.000 |
|
Reserves & Surplus |
(8.248) |
(23.085) |
(37.187) |
|
Net
worth |
-4.248 |
-14.085 |
-28.187 |
|
|
|
|
|
|
long-term borrowings |
73.604 |
77.575 |
77.748 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
73.604 |
77.575 |
77.748 |
|
Debt/Equity
ratio |
(17.327) |
(5.508) |
(2.758) |
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) |
|
Sales |
88.213 |
0.596 |
0.448 |
|
|
|
(99.324) |
(24.832) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
88.213 |
0.596 |
0.448 |
|
Profit |
(5.276) |
(14.837) |
(14.102) |
|
|
(5.98%) |
(2489.43%) |
(3147.77%) |
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 |
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 |
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 |
No |
|
33] |
Voter ID No
of Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
No |
UNSECURED LOAN:
(Rs.
in Millions)
|
Particulars |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
LONG TERM
BORROWINGS |
|
|
|
From Directors and Shareholders |
27.124 |
24.074 |
|
From Others |
2.227 |
0.000 |
|
Total |
29.351 |
24.074 |
GENERAL REVIEW:
The company continues to suffer on account of
lack of any well know brand in their range of equipment handled by them. The
bank interest and other expenses alone come to Rs.30.980 Million which have
been cleared after sales of property in Okhla.
Pegasus sale IS good but contrary to the
assurances being given by the top management the local Officers of Sara first
make sure that they get the maximum benefit and they have been receiving a very
Scanty allotment of machines and losing business. Further their terms of
payments are very harsh as compared to the market practices and they have to
pay in cash and sell on credit as per market practice.
They introduced our own Brand SEWTEX a few
years ago but after Brother the business of this brand is not satisfactory In
Delhi. In the initial stages, they had no funds to import these machines and
due to time lag it seems to have last the market which they assiduously built
up and have to again struggle. However, the market is good in Ludhiana and thin
brand is well accepted.
As for Brother, they have incurred heavy
losses on their account and have been seriously thinking of going to
International Chamber for Arbitration. Their fee and administrative expenses
are very high but still they have decided to file a claim of $2 million for
which they have to pay a minimum Rs. 3.300 Million towards Administrative
expenses and Arbitration fee
The directors however, feel strongly that
being in the sunrise industry. This set back is temporary and are hopeful that
with the economic measure further taken by the management the performance will
Improve and they will be able to achieve the net profit set by them for the
financial year 2013-14
OPERATIONS AND DEVELOPMENT
As stated above the turnover the company
further came down and they incurred heavy losses. All the same the
management has taken steps to strengthen the CIVIL CONSTRUCTION DEPTT WHICH IS
HANDLING SWIMMING POOLS ON TURN KEY BASIS AND IT IS EXPECTED THAT THREE WILL BE
NOTABLE CONTRIBUTION FROM THEM WHICH WILL FURTHER HELP TO IMPROVE THE
PERFORMANCE AND PROFITABILITY.
The management is also seized with the
suggestion to further DIVERSIFY1 INCREASE THEIR PRESENCE in the civil
construction areas such as building the Rats for sale and also bidding for CIVIL
Construction Works but is holding back just because of lack of finance.
INDEX OF CHARGE:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
80020861 |
31/12/2010 * |
71,200,000.00 |
CORPORATION BANK |
M-3&4,GREATER
KAILASH-II, NEW DELHI, NEW DELHI, Delhi - 110048, INDIA |
B04664421 |
|
2 |
80020864 |
22/12/2006 * |
111,256,000.00 |
CORPORATION BANK |
GREATER KAILASH-II,
NEW DELHI, NEW DELHI, Delhi - |
- |
|
3 |
80020867 |
04/10/2005 |
3,000,000.00 |
CORPORATION BANK |
GK-II, NEW
DELHI, Delhi - 110048, INDIA |
- |
|
4 |
90036693 |
13/08/2001 |
8,500,000.00 |
CORPORATION BANK |
M - 4, GREATER KAILASH
- II, NEW DELHI, Delhi - 1 |
- |
|
5 |
80020863 |
22/12/2006 * |
55,628,000.00 |
CORPORATION BANK |
GREATER
KAILASH-II, NEW DELHI, NEW DELHI, Delhi - |
- |
|
6 |
90033085 |
17/01/2005 * |
3,500,000.00 |
CORPORATION BANK |
GREATER KAILASH
- II, NEW DELHI, Delhi, INDIA |
- |
* Date of charge modification
FIXED ASSETS:
· Land
· Building
· Furniture and Fixture
· Office Equipments
· Xerox Machines
· Computer
· Punching and Binding Machines
· Cars
· Electronics Inventor
· Electronic Typewriter
· Machinery
· Service Equipments
· Refrigerator
· Air Conditioner
· Voltage Regulator
· Cycle
· Coolers
· Pager
· Printer
· UPS
· Mobiles
· Fans
· Generators
· Security Systems
· Safe
· Sign Boards
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.61.94 |
|
|
1 |
Rs.103.31 |
|
Euro |
1 |
Rs.85.11 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
1 |
|
OPERATING SCALE |
1~10 |
2 |
|
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 |
1 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
12 |
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.