|
Report Date : |
17.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
MINERA STEEL AND POWER PRIVATE LIMITED (w.e.f.11.02.2011) |
|
|
|
|
Formerly Known
As : |
KMMI STEEL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
811/2,
NH 63, Hospet Road, Alipura, Bellary – 583105, Karnataka |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
15.02.2006 |
|
|
|
|
Com. Reg. No.: |
08-038481 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 300.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27101KA2006PTC038481 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRM10570A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCK7567M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Sponge Iron, Coal, Steel and Power Generation. |
|
|
|
|
No. of Employees
: |
300 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3819000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Management of the company has not filed its financial with the
government department. As per previous year financial (i.e. 2012), the borrowings of the company
seems to be increasing. However, general financial position of the company
appears to be satisfactory. Trade relations are reported as fair. Business is active. Payments are
reported to be slow but 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.
ECGC Country Risk Classification List – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term fund based : BBB- |
|
Rating Explanation |
Moderate degree of safety it carry moderate
credit risk. |
|
Date |
June 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term non fund based : A3 |
|
Rating Explanation |
Moderate degree of safety it carry higher
credit risk. |
|
Date |
June 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 PARTED BY
|
Name : |
Mr. Aswath |
|
Designation : |
Deputy General Finance Manager |
|
Contact No.: |
91-9480823400 |
|
Date : |
16.01.2014 |
LOCATIONS
|
Registered/ Corporate Office : |
811/2,
NH 63, Hospet Road, Alipura, Bellary – 583105, Karnataka, India |
|
Tel. No.: |
91-8392-237709/ 237799/ 237701/ 08 |
|
Mobile No.: |
91-9480823400 (Mr. Aswath) |
|
Fax No.: |
91-8392-237744/ 237799/ 237899 |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Located at: · Karnataka |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Noor Ahmed Hothur |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Managing director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
# 54, Mubarak Manzil, Infantory Road, Cantonment, Bellary-583104,
Karnataka, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
14.06.1955 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
15.02.2006 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
ABMPA5659A |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00487148 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Tanveer Ahmed |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Whole-time director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
# 54, Mubarak Manzil, Cantonment, Bellary-583104, Karnataka,
India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
27.01.1980 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
15.02.2006 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AGJPA0949F |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00487144 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Hothur Nafisa Noor |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Mubarak Manzil, Cantonment, Bellary-583104, Karnataka, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
22.04.1955 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
15.12.2006 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
ACIPB1785D |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
02440884 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Aswath |
|
Designation : |
Deputy General Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Noor Ahmed Hothur |
|
6000000 |
|
Tanveer Ahmed |
|
15000000 |
|
Hothur Nafisa Noor |
|
5000000 |
|
Nikhath |
|
2000000 |
|
Sakina Basith |
|
2000000 |
|
|
|
|
|
Total |
|
30000000 |
AS ON 29.09.2012
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Sponge Iron, Coal, Steel and Power Generation. |
||||
|
|
|
||||
|
Products/ Services : |
|
||||
|
|
|
||||
|
Imports : |
|
||||
|
Products : |
Coal and Scrap |
||||
|
Countries : |
· Singapore |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Cash and Credit |
||||
|
|
|
||||
|
Purchasing : |
Cash, Credit and Depend |
PRODUCTION STATUS (AS ON 31.03.2012)
a) Sponge Iron Division:
Installed Capacity : Sponge Iron - 4 Kilns of 100 M.T per day per Kiln
Actual production for the year is 88108 M.T. (P.Y. 73698 M.T)
b) Wind Mill Division:
Installed Capacity : 1 Wind Mill at Kappadagudda : 1.50 M.W
Installed Capacity : 2 Wind Mills at Ayyanahalli : 2.50 M.W
Actual generation of power for the year: 7765560 units (P.Y.6977472 Units)
c) During the current financial year, company has commenced production of SMS Unit on 21.11.2012.
Installed Capacity : 60,000 M. Tons p.a.,
Actual production for the year : 15144 M. Tons
d) Waste Heat Recovery Power Plant.
Actual generation of power for the year: 31134800 units (P.Y.5998500 Units)
GENERAL INFORMATION
|
Suppliers : |
Newgen, Singapore |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Customers : |
Other |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
No. of Employees : |
300 (Approximately) |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
· State Bank Of India SME Branch, Station Road, Bellary - 585101, Karnataka, India · Union Bank Of India 201, 1st Floor, Car Street, Bellary - 583101, Karnataka, India · Axis Bank Limited Corporate Banking Branch, Queens Road, Bangalore - 560001,
Karnataka, India |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
D V Sarovar and Company Chartered Accountants |
|
Address : |
Jayadhurgha Mansions, 2nd Floor, Door No.17(c), Ward No. I
, Paravathi Nagar, Main Road, Bellary – 583103, Karnataka, India |
|
Income-tax
PAN of auditor or auditor's firm : |
ABHPL2932R |
|
|
|
|
Firms in which
relatives of the key management personnel/ partners : |
· Kariganur Iron and Steel Private Limited, Hospet Hothur Motors Private Limited, Bellary Trident Minerals-100%EOU, Bellary Kariganur Mineral Mining Industry, Hospet Hothur Traders, Bellary |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
35,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 350.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 300.000 Millions
|
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
300.000 |
300.000 |
|
(b) Reserves & Surplus |
|
604.754 |
487.528 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
50.000 |
50.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
954.754 |
837.528 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
568.268 |
534.594 |
|
(b) Deferred tax liabilities (Net) |
|
215.345 |
201.106 |
|
(c) Other long
term liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
783.613 |
735.700 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
619.231 |
321.798 |
|
(b)
Trade payables |
|
179.723 |
423.146 |
|
(c)
Other current liabilities |
|
7.924 |
16.002 |
|
(d) Short-term
provisions |
|
24.473 |
23.843 |
|
Total Current
Liabilities (4) |
|
831.351 |
784.789 |
|
|
|
|
|
|
TOTAL |
|
2569.718 |
2358.017 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
1497.245 |
1177.045 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
74.340 |
180.503 |
|
(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 |
|
8.228 |
2.068 |
|
(e) Other Non-current
assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
1579.813 |
1359.616 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
45.310 |
45.310 |
|
(b)
Inventories |
|
482.378 |
443.270 |
|
(c)
Trade receivables |
|
119.574 |
75.488 |
|
(d) Cash
and cash equivalents |
|
44.309 |
61.906 |
|
(e)
Short-term loans and advances |
|
229.320 |
310.096 |
|
(f)
Other current assets |
|
69.014 |
62.331 |
|
Total
Current Assets |
|
989.905 |
998.401 |
|
|
|
|
|
|
TOTAL |
|
2569.718 |
2358.017 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
220.000 |
|
|
2] Share Application Money |
|
|
30.000 |
|
|
3] Reserves & Surplus |
|
|
339.892 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
589.892 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
855.625 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
855.625 |
|
|
DEFERRED TAX LIABILITIES |
|
|
106.598 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1552.115 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
831.753 |
|
|
Capital work-in-progress |
|
|
419.578 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
20.310 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
180.592 |
|
|
Sundry Debtors |
|
|
52.157 |
|
|
Cash & Bank Balances |
|
|
62.477 |
|
|
Other Current Assets |
|
|
0.004 |
|
|
Loans & Advances |
|
|
208.227 |
|
Total
Current Assets |
|
|
503.457 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
205.816 |
|
|
Other Current Liabilities |
|
|
16.181 |
|
|
Provisions |
|
|
1.816 |
|
Total
Current Liabilities |
|
|
223.813 |
|
|
Net Current Assets |
|
|
279.644 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.830 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1552.115 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
2067.700 |
1883.200 |
1038.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
1818.600 |
1656.700 |
932.000 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
249.100 |
226.500 |
106.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
67.100 |
96.900 |
58.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
182.000 |
129.600 |
47.600 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.07 |
4.32 |
1.90 |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
2890.000 |
|
|
|
|
|
The above information has been parted by Mr. Aswath (Deputy General
Finance Manager)
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
8.80
|
6.88 |
4.59 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.98
|
10.40 |
7.94 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26
|
0.27 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.24
|
1.02 |
1.45 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.19
|
1.27 |
2.25 |
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 |
Yes |
|
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10015516 |
07/05/2013 * |
3,261,200,000.00 |
STATE BANK OF INDIA |
SME BRANCH, STATION ROAD, BELLARY - 585101, KARNATAKA, INDIA |
B75000919 |
* Date of charge modification
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
SHORT TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
402.000 |
201.950 |
|
|
|
|
|
Total |
402.000 |
201.950 |
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
|
|
|
|
GUARANTEES: Unconditional and Irrevocable Corporate Guarantee on Term loan
and Cash credit to Axis Bank, Bellary on behalf of Limbavali Power Private
Limited |
363.900 |
393.100 |
|
|
|
|
TRADE REFERENCE
· Newgen, Singapore
FIXED ASSETS:
· Land
Buildings
Factory
building
Plant
and equipment
Other
plant and equipment
Furniture
and fixtures
Vehicles
Motor
vehicles
Office
equipment
Other
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 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. 61.53 |
|
|
1 |
Rs. 100.73 |
|
Euro |
1 |
Rs. 83.84 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
44 |
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.