|
Report Date : |
20.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
DIVEKAR WALLSTABLE AND SCHNEIDER PRECISION SEALS PRIVATE LIMITED
(w.e.f. 19.03.2010) |
|
|
|
|
Formerly Known
As : |
DIVEKAR RUBBER PRODUCTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Above Indravati Hall, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
16.05.1990 |
|
|
|
|
Com. Reg. No.: |
11-056557 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.31.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25100MH1990PTC056557 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNED03359G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACD5920D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Gas Kit, O Ring Oil Seal, Rubber Gas Kit, Chlorine Gas
Safety Kit, Toxic Gas Detection Kit etc. |
|
|
|
|
No. of Employees
: |
Information Declined by Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 12000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The management has failed to file its financial with government
department for year 2013. As per available financial of 2012, there appears accumulated losses
recorded by the company. Profitability of the company seems to be under
pressure. However, trade relations are fair. Business is active. Payment terms
are slow. The company can be considered for business dealing with some caution. |
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 DENIED
MANAGEMENT NON CO-OPERATIVE (91-22-25423586)
LOCATIONS
|
Registered Office : |
Above Indravati Hall, |
|
Tel. No.: |
91-22-25401601/ 215402503/ 25423586 |
|
Fax No.: |
91-22-25402503 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
403, |
|
Tel. No.: |
91-22-25442643/ 65771199 |
|
Fax No.: |
91-22-25443644 |
|
|
|
|
Factory : |
16/2 Village Ambivali, Post Kanchad Alonde, |
|
Tel. No.: |
91-2520-203114/ 203115 |
|
E-Mail : |
DIRECTORS
AS ON 28.09.2012
|
Name : |
Mr. Hari Krishna Divekar |
|
Designation : |
Managing Director |
|
Address : |
B/22, Balsundar CHS, |
|
Date of Birth/Age : |
19.08.1943 |
|
Date of Appointment : |
16.05.1990 |
|
DIN No.: |
00469144 |
|
|
|
|
Name : |
Mr. Chaitanya Hari Divekar |
|
Designation : |
Managing Director |
|
Address : |
B/22, Balsundar CHS, |
|
Date of Birth/Age : |
04.01.1971 |
|
Date of Appointment : |
19.04.2010 |
|
DIN No.: |
00469309 |
|
|
|
|
Name : |
Mr. Karl Rolf Schneider |
|
Designation : |
Nominee Director |
|
Address : |
Hubertusstrasse 8, Niederwinkling-94559 |
|
Date of Birth/Age : |
28.04.1932 |
|
Date of Appointment : |
04.06.2010 |
|
DIN No.: |
03017059 |
|
|
|
|
Name : |
Mr. Christian Wallstabe |
|
Designation : |
Nominee Director |
|
Address : |
Aletsberger STR 60, Deggdorf-94469 |
|
Date of Birth/Age : |
04.04.1968 |
|
Date of Appointment : |
04.06.2010 |
|
DIN No.: |
03017074 |
MAJOR SHAREHOLDERS
AS ON 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Deshmukh Rubber Works Private Limited, Mumbai, |
|
155000 |
|
Dichtungstechnik Wallstabe and Schneider GMBH and Company, KG, |
|
155000 |
|
|
|
|
|
Total |
|
310000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 28.09.2012
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
50.00 |
|
Bodies corporate |
50.000 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Gas Kit, O Ring Oil Seal, Rubber Gas Kit, Chlorine Gas
Safety Kit, Toxic Gas Detection Kit etc. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information Declined by Management. |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Bankers : |
The Thane Janta Sahakari Bank (TJSB) Limited, Anant Laxmi Chambers,
Naupada, Thane-400602, Maharashtra, India |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Facilities : |
NOTES: ·
Aggregate amount of loan guaranteed by directors
/ others: Term loan is secured by personal guarantee of Mr. Chaitanya H. Divekar.
Mr. Hari Divekar and Corporate Guarantee of Deshmukh Rubber works Private
Limited ·
Details of security, rate of interest terms of
redemption, conversions and repayment. Term Loan 1 and Term Loan 2 represents loans received from TJSB Bank
in different branches which are set out as below. -
TJSB ADHYP M 380015 – received on 13.09.2008
(Repayable in 60 equal installments) -
TJSB ADHYP M 400016 – received on 19.07.2010
(Repayable in 84 equal installments) -
TJSB PRLN 380013 – received on 13.09.2008 (Repayable
in 72 equal installments) -
TJSB PRLN M 400009 – received on 19.07.2010
(Repayable in 95 equal installments) Term loan 1 and 2 carries an interest rate 11.50% (Previous year
11.50%) p.a. with monthly rests. Term loan 1 is secured by hypothecation of
Ambivati property and Term loan 2 is secured by hypothecation of plant and
machinery and equipment’s. (Existing and future) and personal guarantee of
Mr. Chaitanya H Divekar (Managing Director). Mr. Hari Divekar (Director) and
Corporate Guarantee of Deshmukh Rubber
Works Private Limited Short Term
Borrowings: Loans repayable on Demand: ·
Cash credit facility from bank carries an
interest rate 11.50% (Previous year 11.50%) p.a. with monthly rests cash
credit facility is secured by hypothecation of stock and book debts and
personal guarantee of Deshmukh Rubber Works Private Limited ·
Bank overdraft facility is secured by corporate
guarantee of Dichrugstechnik
Wallstabe and Schneider Gmbh and Company |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sudit K. Parekh and Company Chartered Accountants |
|
Address : |
Ballard House, 2nd Floor, Adi-Marzban Path, Ballard Pier,
Fort, Mumbai – 400 001, Maharashtra, India |
|
PAN No.: |
AAAFS4500P |
|
|
|
|
Related Parties : : |
·
Deshmukh Rubber Works Private Limited ·
Dichrugstechnik
Wallstabe and Schneider Gmbh and Company |
CAPITAL STRUCTURE
AS ON 28.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.100/- each |
Rs.50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
310000 |
Equity Shares |
Rs.100/- each |
Rs.31.000 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 |
|
31.000 |
20.000 |
|
(b) Reserves & Surplus |
|
(27.775) |
11.564 |
|
(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) |
|
3.225 |
31.564 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
178.778 |
130.894 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.134 |
0.242 |
|
Total Non-current Liabilities (3) |
|
178.912 |
131.136 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
43.416 |
13.683 |
|
(b) Trade payables |
|
34.821 |
19.651 |
|
(c) Other current liabilities |
|
24.755 |
13.610 |
|
(d) Short-term provisions |
|
0.000 |
0.000 |
|
Total Current Liabilities (4) |
|
102.992 |
46.944 |
|
|
|
|
|
|
TOTAL |
|
285.129 |
209.644 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
187.225 |
70.908 |
|
(ii) Intangible Assets |
|
6.085 |
6.859 |
|
(iii) Capital
work-in-progress |
|
0.000 |
48.383 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.021 |
0.021 |
|
(c) Deferred tax assets (net) |
|
20.806 |
7.768 |
|
(d) Long-term Loan and Advances |
|
18.141 |
25.089 |
|
(e) Other Non-current assets |
|
0.187 |
0.233 |
|
Total Non-Current Assets |
|
232.465 |
159.261 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
12.918 |
9.594 |
|
(c) Trade receivables |
|
36.014 |
35.620 |
|
(d) Cash and cash equivalents |
|
1.662 |
1.815 |
|
(e) Short-term loans and
advances |
|
2.070 |
3.354 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total Current Assets |
|
52.664 |
50.383 |
|
|
|
|
|
|
TOTAL |
|
285.129 |
209.644 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
5.000 |
|
|
2] Share Application Money |
|
|
5.000 |
|
|
3] Reserves & Surplus |
|
|
10.599 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
20.599 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
20.979 |
|
|
2] Unsecured Loans |
|
|
4.974 |
|
|
TOTAL BORROWING |
|
|
25.953 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.009 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
46.561 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.110 |
|
|
Capital work-in-progress |
|
|
33.774 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
3.220 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000
|
|
|
Sundry Debtors |
|
|
0.000
|
|
|
Cash & Bank Balances |
|
|
11.777
|
|
|
Other Current Assets |
|
|
0.214
|
|
|
Loans & Advances |
|
|
0.126
|
|
Total
Current Assets |
|
|
12.117
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
0.431
|
|
|
Other Current Liabilities |
|
|
0.000
|
|
|
Provisions |
|
|
2.508
|
|
Total
Current Liabilities |
|
|
2.939
|
|
|
Net Current Assets |
|
|
9.178
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.279 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
46.561 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
124.428 |
71.999 |
11.809 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
154.848 |
88.382 |
0.184 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
(30.420) |
(16.383) |
11.625 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
21.956 |
8.524 |
0.014 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
(52.376) |
(24.907) |
11.611 |
|
|
|
|
|
|
|
|
|
Add/ Less |
DEFERRED TAX
INCLUDING REVERSE PROVISION FOR TAX |
13.038 |
7.777 |
2.519 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
(39.338) |
(17.130) |
9.092 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(126.90) |
NA |
181.84 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(31.62)
|
(23.79) |
76.99 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(19.82)
|
(16.23) |
94.96 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(16.24)
|
(0.79) |
0.56 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
68.90
|
4.58 |
1.26 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.51
|
1.07 |
4.12 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITY
OF LONG TERM DEBT:
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Current maturity of long term debt |
10.802 |
1.635 |
Not Available |
|
|
|
|
|
|
Total |
10.802 |
1.635 |
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 |
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
PERFORMANCE:
During the year, against expenditure of Rs.176.804 Millions subject
earned an income of Rs.124.428 Millions, resulting in a net loss of Rs.52.376
Millions due to incurrence of startup manufacturing expenses. Directors hope that
in the current year the operations of subject post capacity expansion would
attain above break-even level.
During the year Authorized capital of subject increased from Rs.25.000
Millions to Rs.50.000 Millions. Paid up share capital of subject increased from
Rs.20.000 Millions to Rs.31.000 Millions.
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
ECB Loan from
Dichrugstechnik Wallstabe and Schneider Gmbh and Company |
97.275 |
90.015 |
|
Loan from N H
Divekar |
6.000 |
6.000 |
|
Loan from NTRPL |
6.000 |
0.000 |
|
|
|
|
|
Total |
109.275 |
96.015 |
NOTES:
Long Term Borrowings
Loans from related parties:
The company has availed an unsecured loan from:
·
Dichrugstechnik
Wallstabe and Schneider Gmbh and Company (Interest rate applicable being LIBOR
+ 5% for term loan 1 and 55% p.a. for Term Loan 2).
·
N H
Divekar, relative of the director (Interest rate applicable being 11%).
·
NTRPL
Company managed by relative of the director. (Interest applicable being 10%)
during the year.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10297980 |
31/01/2011
* |
44,300,000.00 |
THE
THANE JANATA SAHAKARI BANK LIMITED |
ANANT
LAXMI CHAMBERS,NAUPADA, THANE - 400602, MAHARASHTRA, INDIA |
B17556671 |
|
2 |
10259521 |
12/01/2011
* |
21,700,000.00 |
THE
THANE JANATA SAHAKARI BANK LIMITED |
ANANT
LAXMI CHAMBERS,NAUPADA, THANE - 400602, MAHARASHTRA, INDIA |
B04560686 |
|
3 |
10240273 |
06/09/2013
* |
30,000,000.00 |
TJSB
SAHAKARI BANK LIMITED |
ANANT
LAXMI CHAMBERS,NAUPADA, THANE - 400602, MAHARASHTRA, INDIA |
B86194321 |
|
4 |
10130574 |
16/10/2008 |
13,800,000.00 |
THE
THANE JANATA SAHAKARI BANK LIMITED |
ANANT
LAXMI CHAMBERS,NAUPADA, THANE - 400602, MAHARASHTRA, INDIA |
A50899343 |
|
5 |
10130576 |
26/09/2008 |
9,700,000.00 |
THE
THANE JANATA SAHAKARI BANK LIMITED |
ANANT
LAXMI CHAMBERS,NAUPADA, THANE - 400602, MAHARASHTRA, INDIA |
A50900117 |
|
6 |
10143105 |
26/09/2008 |
13,800,000.00 |
THE
THANE JANATA SAHAKARI BANK LIMITED |
ANANT
LAXMI CHAMBERS,NAUPADA, THANE - 400602, MAHARASHTRA, INDIA |
A50899731 |
* Date of charge modification
FIXED ASSETS:
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Computers
·
Vehicle
·
Land
·
Leasehold Improvements
·
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 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.61.35 |
|
|
1 |
Rs.100.21 |
|
Euro |
1 |
Rs.83.52 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
26 |
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.