|
Report Date : |
16.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
IDBI ASSET MANAGEMENT LIMITED |
|
|
|
|
Registered
Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
25.01.2010 |
|
|
|
|
Com. Reg. No.: |
11-199319 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.750.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U65100MH2010PLC199319 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMI09238F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCI2317R |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
The principal activity of the Company is to act as an Investment
manager and advisor to IDBI Mutual Fund. |
|
|
|
|
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 998000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of IDBI Bank Limited. It is an established company having a satisfactory track record. There
appear some accumulated losses recorded by the company. However, liquidity of the company appears to be strong and subject
gets good financial support from its holding companies. Trade relations are reported to be fair. Business is active. Payments
are usually correct and as per commitments. In view of strong holdings and experience promoters, the company can
be considered for normal 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
India’s current account
deficit narrowed in the quarter ended September as government measures to curb
imports, especially gold, kicked in. The current account deficit, the
excess of a country’s imports of goods and services over exports, narrowed to $
5.2 billion from $ 21 billion in the year ago period, according to provisional
Reserve Bank of India data. Finance Minister P. Chidambaram said the CAD for
the year will be less than $ 60 billion or 3 per cent of GDP and the latest
data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services
sector activity witnessed a moderate improvement in November over the previous
month, even while indicating the fifth successive monthly contraction,
according the HSBC survey.
$53 million
estimated losses suffered by India due to phishing attacks during the third quarter,
according to a study by RSA. India ranks fourth in the list of nations hit by
phishing attacks. The US remained at the top of the charts. Phishing is the
process of acquiring information such as user names, passwords and credit card
details by sending e-mails disguised as official mails.
Rs.4080 million
worth of mobile-phone-based transactions by July 2013 compared to Rs.260
million in September, 2012, according to Deloitte report. The number of
transactions has shot up from 94000 to 701000.
India aims to earn
Rs.400000 million from the bandwidth auction set for January. The merger and
acquisition guidelines, cleared by a group of ministers, will be out before the
auction begins so that players can make informed decisions on the auctions.
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
MANAGEMENT NON
CO-OPERATIVE
Contact No.: 91-22-66442800
LOCATIONS
|
Registered Office : |
IDBI Tower, WTC Complex, Cuffe Parade, Colaba, Mumbai – 400005, Maharashtra,
India |
|
Tel. No.: |
91-22-66096100/ 66442800/
66442813 |
|
Fax No.: |
91-22-66442801/ 4 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
(AS ON 25.06.2013)
|
Name : |
Mr. Debasish Mallick |
|
Designation : |
Managing Director |
|
Address : |
H-52, Maker
Kundan Gardens, Juhu Tara Road, Santacruz (West), Mumbai, 400049,
Maharashtra, India |
|
Date of Appointment : |
29.04.2011 |
|
DIN No.: |
02352963 |
|
|
|
|
Name : |
Dr. YSP Thorat |
|
Designation : |
Director |
|
Address : |
Indu Niketan,
General Thorat Road, Tarabai Park, Kolhapur – 416003, Maharashtra, India |
|
Date of Appointment : |
29.04.2011 |
|
|
|
|
Name : |
Mr. Jayant Narayan Godbole |
|
Designation : |
Director |
|
Address : |
604A, Cottage
Land Co-Operative Housing Society, Plot No.-16A, Sector-19, Navi Mumbai –
400706, Maharashtra, India |
|
Date of Birth/Age : |
17.02.1945 |
|
Date of Appointment : |
28.06.2012 |
|
DIN No.: |
00056830 |
|
|
|
|
Name : |
Mr. Mukesh Sabharwal |
|
Designation : |
Additional Director |
|
Address : |
01, Krishna Menon Marg, Near Sena Bhawan, New Delhi – 110011, India |
|
Date of Birth/Age : |
12.09.1951 |
|
Date of Appointment : |
28.06.2012 |
|
DIN No.: |
05155598 |
|
|
|
|
Name : |
Mr. Yashwant Shankarrao Thorat |
|
Designation : |
Director |
|
Address : |
Indu Niketan ,
General Thorat Road, Tarabai Park, Kolhapur – 416003, Maharashtra, India |
|
Date of Appointment : |
29.04.2011 |
|
DIN No.: |
02652734 |
|
|
|
|
Name : |
Mr. Srinivasan Kothandaraman Vaidyanathan Srinivasan |
|
Designation : |
Additional Director |
|
Address : |
1101, Raheja Majestic, Near Star City, Matunga – West, Mumbai –
400016, Maharashtra, India |
|
Date of Birth/Age : |
06.07.1956 |
|
Date of Appointment : |
23.08.2013 |
|
DIN No.: |
02564527 |
|
Email : |
|
|
|
|
|
Name : |
Mr. Yogesh Agarwal |
|
Designation : |
Director |
|
Address : |
M-2, Kinellan Towers, Nepean Sea Road, Mumbai – 400006, Maharashtra,
India |
|
Date of Birth/Age : |
16.06.1950 |
|
DIN No.: |
00947896 |
|
|
|
|
Name : |
Mr. Syed Shahabuddin |
|
Designation : |
Director |
|
Address : |
Flat No.1402, Gloriosa Apartments, N. M. kale Marg, Off S. K. Bole
Road, Dadar (West), Mumbai – 400028, Maharashtra, India |
|
Date of Birth/Age : |
14.03.1950 |
|
DIN No.: |
00985532 |
|
|
|
|
Name : |
Mr. Kiran Sharadchandra Karnik |
|
Designation : |
Director |
|
Address : |
Q-2A Hauz Khas Enclave, New Delhi – 110016, India |
|
Date of Birth/Age : |
16.03.1947 |
|
DIN No.: |
00542951 |
|
|
|
|
Name : |
Mr. Viney Kumar |
|
Designation : |
Director |
|
Address : |
F-22, Maker Kundan Garden, Opposite Lido Juhu Road, Santacruz W Mumbai
– 400049, Maharashtra, India |
|
Date of Birth/Age : |
04.06.1956 |
|
DIN No.: |
00191129 |
KEY EXECUTIVES
|
Name : |
Mr. Mahesh Kumar Gulab Jiandani |
|
Designation : |
Company Secretary |
|
Address : |
Flat No 6, Rams
Flats, No 19/37, Taylors Estate, Second Street, Kodambakkam, Chennai –
600024, Tamilnadu, India |
|
Date of Appointment : |
30.04.2013 |
|
PAN No.: |
AFZPJ1129B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 25.06.2013)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
IDBI Bank Limited, India - represented by Jagannath Sahu |
|
49999994 |
|
IDBI Capital Market Service Limited, India - represented by V Gopinath
|
|
40000000 |
|
B K Batra- Nominee of IDBI Bank Limited, India |
|
1 |
|
Rakesh Kumar - Nominee of IDBI Bank Limited, India |
|
1 |
|
Rakesh Kumar Bansal- Nominee of IDBI Bank Limited, India |
|
1 |
|
S K V Srinivasan- Nominee of IDBI Bank Limited, India |
|
1 |
|
M V Phadke- Nominee of IDBI Bank Limited, India |
|
1 |
|
Deepak Gupta- Nominee of IDBI Bank Limited, India |
|
1 |
|
|
|
|
|
Total |
|
90000000 |
(AS ON 22.10.2013)
|
Names of Allottee |
|
No. of Shares
Allotted |
|
|
|
|
|
IDBI Bank Limited, India |
|
25000000 |
|
|
|
|
|
Total |
|
25000000 |
(AS ON 30.09.2013)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Government Companies |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The principal activity of the Company is to act as an Investment manager
and advisor to IDBI Mutual Fund |
||||
|
|
|
||||
|
Products/ Service : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management. |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
L. U. Krishnan and Company Chartered Accountant |
|
Address : |
SAM's Nathaneal
Towers 3-1, West Club Road, Shenoy Nagar, Chennai -600030, Tamilnadu,
India |
|
PAN No.: |
AAAFL0818M |
|
|
|
|
Holding Company: |
· IDBI Bank Limited CIN No.: L65190MH2004GOI148838 |
|
|
|
|
Fellow
Subsidiary Company : |
·
IDBI MF Trustee Company Limited CIN No.: U65991MH2010PLC199326 |
|
|
|
|
Associates : |
·
IDBI In-tech Limited CIN No.: U72200MH2000GOI124665 · IDBI Federal Life Insurance Company Limited CIN No.: U66010MH2007PLC167164 · IDBI Capital Market Services Limited CIN No.: U65990MH1993GOI075578 |
CAPITAL STRUCTURE
(AS ON 25.06.2013)
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000000 |
Equity Shares |
Rs.10/- each |
Rs.1500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
115000000 |
Equity Shares |
Rs.10/- each |
Rs.1150.000
Millions |
|
|
|
|
|
(AS ON 31.03.2013)
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000000 |
Equity Shares |
Rs.10/- each |
Rs.1000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
90000000 |
Equity Shares |
Rs.10/- each |
Rs.900.000
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 |
900.000 |
750.000 |
500.000 |
|
(b) Reserves & Surplus |
(650.588) |
(441.552) |
(265.174) |
|
(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) |
249.412 |
308.448 |
234.826 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
2.230 |
14.584 |
|
(c) Other long term liabilities |
2.505 |
2.429 |
0.000 |
|
(d) long-term provisions |
8.453 |
6.855 |
2.798 |
|
Total Non-current Liabilities (3) |
10.958 |
11.514 |
17.382 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
46.293 |
39.841 |
51.492 |
|
(c) Other current
liabilities |
0.000 |
0.000 |
4.446 |
|
(d) Short-term provisions |
0.962 |
1.045 |
1.128 |
|
Total Current Liabilities (4) |
47.255 |
40.886 |
57.066 |
|
|
|
|
|
|
TOTAL |
307.625 |
360.848 |
309.274 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
11.010 |
20.123 |
19.604 |
|
(ii) Intangible Assets |
7.490 |
11.437 |
12.464 |
|
(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) |
6.189 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
32.803 |
36.542 |
39.330 |
|
Total Non-Current Assets |
57.492 |
68.102 |
71.398 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
198.554 |
136.581 |
182.363 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
3.650 |
8.077 |
6.081 |
|
(d) Cash and cash
equivalents |
0.496 |
100.184 |
10.754 |
|
(e) Short-term loans and
advances |
3.108 |
4.832 |
3.424 |
|
(f) Other current assets |
44.325 |
43.072 |
35.254 |
|
Total Current Assets |
250.133 |
292.746 |
237.876 |
|
|
|
|
|
|
TOTAL |
307.625 |
360.848 |
309.274 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
137.210 |
89.416 |
30.469 |
|
|
|
Other Income |
9.446 |
15.687 |
5.278 |
|
|
|
TOTAL (A) |
146.656 |
105.103 |
35.747 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee Benefit Expense |
139.238 |
125.790 |
120.174 |
|
|
|
Other Expenses |
210.725 |
153.756 |
156.145 |
|
|
|
TOTAL (B) |
349.963 |
279.546 |
276.319 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(203.307) |
(174.443) |
(240.572) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(203.307) |
(174.443) |
(240.572) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
14.148 |
14.290 |
10.017 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(217.455) |
(188.733) |
(250.589) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(8.420) |
(12.354) |
14.585 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(209.035) |
(176.379) |
(265.174) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(441.553) |
(265.174) |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(650.588) |
(441.553) |
(265.174) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(2.73) |
(2.86) |
(8.28) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(142.53)
|
(167.82) |
(741.81) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(158.48)
|
(211.07) |
(822.44) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(72.14)
|
(52.30) |
(81.02) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.87)
|
(0.61) |
(1.07) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.29
|
7.16 |
4.17 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITY
OF LONG TERM BORROWINGS DETAIL: NOT AVAILABLE
|
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 |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
----- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
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 |
No |
|
24] |
Banking facility details |
No |
|
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 |
BACKGROUND
IDBI Asset
Management Company Limited was incorporated on 25th Jan 2010 as a Public
limited company. The principal activity of the Company is to act as an Investment
manager and advisor to IDBI Mutual Fund (“the Fund”). The Financial statements
for the second financial year ending 31st March 2013 are being
submitted.
OVERVIEW
In the third year
of operation IDBI Mutual Fund has successfully launched the IDBI India Top 100
Equity Fund, Gold FOF, IDBI Gilt Fund and RGESS Fund in addition to multiple
fixed maturity plans. The average quarterly asset under management of the AMC
has grown from Rs.54821.400 Millions (as on March 31, 2012) to Rs.62489.000
Millions by March 31, 2013. The AMC currently manages 5 debt schemes, 1 MIP, 3
equity schemes, 1 gold ETF, 1 gold FOF, 1 RGESS and 4 fixed maturity plans.
BUSINESS ENVIRONMENT
During FY13, the domestic
market saw positives like strong monetary easing programs around the world,
falling global commodity prices (specifically crude and gold), declining
domestic inflation (leading to cuts in policy rates), hike in diesel prices (to
reduce subsidy burden), improving fiscal deficit and reform measures like
clearing of FDI in multi brand retail, offset negatives such as poor monsoons,
tight liquidity, rising current account deficit, a depreciating rupee,
confusion regarding the General Anti Avoidance Rules (GAAR) and the logjam in
Parliament due to the CAG report alleging corruption in the allocation of coal
blocks.
Globally, the U.S.
economy showed signs of improvement, the EU region appeared to be weak but
stable post bail out packages being announced and paid out, while Japan
unveiled Abenomics strategy of liberal quantitative easing, inflation targeting
and expanding public investment to propel the country back to growth mode.
Specifically, the US saw a decline in unemployment rates to 7.8%. The year was
also notable for the monetary easing programs announced by the US and Japan,
leading to a surge in global liquidity and driving risk on? trades. The US
announced QE3, targeting $40 bn (subsequently increased to $ 80 bn) in monthly
bond purchases while Japan announced that it would ramp up its bond buying
program meaningfully, targeting an inflation rate of 2%, up from a deflationary
environment. Developed stock markets performed better than emerging markets as
investors preferred to bet on the US and Japan economies. While the SandP 500
and the Nikkei indices recorded 11.4% and 22.9% gains respectively for FY 13,
the German DAX gained by 12% and the FTSE fell by 4%. This compares to a 7.3%
rise in the Indian broad market index, Nifty index, a 1.2% fall in the Shanghai
index and a 0.6% fall in the MSCI Emerging Markets index. Politically too, FY13
was an important year as several countries saw a change in leadership. In
particular, the US concluded its Presidential elections while China instituted
a once-a-decade transfer of power to a new group of Communist leaders.
As expected, India
GDP remained weak. Full year FY13 GDP was 5%, the lowest that the country has
seen in the past 10 years. The deterioration in GDP could be seen progressively
over the quarters with 1QFY13 GDP at 5.4%, 2QFY13 GDP at 5.2%, 3QFY13 GDP at
4.7% and 4QFY13 GDP at 4.8%. The IIP also continued to exhibit weakness during
the year. Economists however believe that the economy had seen the worst and
could potentially see a pick-up in growth in FY14. This, coupled with a gradual
decline in inflation, particularly the core inflation, prompted the RBI to cut
the repo and the CRR rates by 50 bps and 100 bps respectively during the year.
FII flows
continued to be robust during FY13, registering a net inflow of about $25 bn.
Despite the strong flows, the rupee continued its downward slide and recorded a
net depreciation of 6.3% primarily because of a steep increase in the current
account deficit. FDI flows were disappointing during the year, recording a net
inflow of about $22 bn compared to $35 bn in the previous year.
INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY
FIXED ASSETS:
·
Furniture and Fixtures
·
Office Equipment
·
Computer
·
Other Equipments
·
Computer Software
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.61.59 |
|
|
1 |
Rs.101.09 |
|
Euro |
1 |
Rs.83.99 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
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 |
|
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.