MIRA
INFORM REPORT
|
Report Date : |
12.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
MASYC PROJECTS PRIVATE LIMITED |
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Registered
Office : |
20, Community Centre, Mayapuri, Phase-I, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
18.01.1990 |
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Com. Reg. No.: |
55-038957 |
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Capital
Investment / Paid-up Capital : |
Rs.9.225
millions |
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CIN No.: [Company Identification
No.] |
U74899DL1990PTC038957 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELM08960A |
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PAN No.: [Permanent Account No.] |
AAACM0173D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject
is engaged in the business of manufacturing of Material Handling Systems/
Equipments. |
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No. of Employees
: |
Information declined by the Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2754000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an
established company having satisfactory track record. Financial
position of the company is good. Networth of the
company is healthy. Trade relations are
reported as fair. Business is active. Payment terms are reported to be
usually correct and as per commitment. 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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
NEWS
The economy grew 4.7 %in 2013/14, marking a
second straight year of sub-5 % growth – the worst slowdown in more than a
quarter of a century. The data was below an official estimate of 4.9 % annual
growth and compared with 4.5 % in the last fiscal year. However, the current
account deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic
product, in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year
before. A sharp fall in gold imports due to restrictions on overseas purchases
and muted import of capital goods helped shrink the current account deficit.
Online retailer Flipkart has acquired fashion
portal Myntra as it prepares to battle with the rapidly expanding India arm of
the global e-commerce giant Amazon. The company raised $ 210 million from
Russian Investment firm DST Global which has also invested in companies like
Facebook, Twitter and Alibaba Group.
General Motors will start exporting vehicles from
its Talegaon plant near Pune in the second half of 2014. GM was one of the few
global carmakers that was using its India plant only for the domestic market.
Google has overtaken Apple as the world’s top
brand in terms of value, according to global market research agency Millward
Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top
10 of the 100 slots were dominated by US companies.
Infosys lost another heavy weight when B G
Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit
after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V
Balakrishnan being the other two. While Vemuri went on to lead IGate,
Balakrishnan joined politics.
Naresh Goyal – promoted Jet Airways posted biggest
quarterly loss – Rs.2153.37 crore – in the three months ended March 31, mainly
because it has been offering discounts to passengers to fill planes.
William S Pinckney – Chairman and CEO of
Amway India was arrested by the Andhra Pradesh Police in connection with a
complaint against the direct selling firm. This is the second time that he has
been taken into custody. A year, ago the Kerala Police had arrested Pinckney
and two company directors on charges of financial irregularities.
China has told its state-owned enterprises to
sever links with American consulting firms after the United States charged five
Chinese military officers with hacking US companies. China’s action which
targets consultancies like McKinsey & Co. and the Boston Consulting Group,
sterns from fears that the first are providing trade secrets to the US
governments.
India has emerged as a country with some of
the highest unregistered businesses in the world. Indonesia has the maximum
number of shadow businesses, says a study of 68 countries by Imperial College
Business School in London.
Pfizer has abandoned its attempt to buy
AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55
pounds a share.
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
Management non-cooperative
(Tel. No.: 91-11-28113383/ 91-1276-267496)
LOCATIONS
|
Registered Office : |
20, Community Centre, Mayapuri, Phase-I, New Delhi – 110 064, India |
|
Tel. No.: |
91-11-28113383/ 28115453/ 28115745 |
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Fax No.: |
91-11-28116850 |
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E-Mail : |
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Website : |
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Factory 1 : |
2008 – 2011, M.I.E., Bahadurgarh, District Jhajjar – 124 507, Haryana, India |
|
Tel. No.: |
91-1276-267496/ 267996/ 324051/ 324052 |
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Factory 2 : |
2434 - P, M.I.E. Bahadurgarh, District Jhajjar – 124 507, Haryana, India |
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Tel. No.: |
91-1276-325559 |
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Factory 3 : |
Plot No. E-12, Old Industrial Area, Bahadurgarh, District Jhajjar, Haryana, India |
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Tel. No.: |
91-1276-215998 |
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Factory 4 : |
Opposite M.I.E. Bahadurgarh, Plot No.76/6/2, Bank Road, Bahadurgarh, District Jhajjar, Haryana, India |
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Factory 5 : |
B-14 (Khasra No.37/01), Opposite 1437 M.I.E., M.I.E. Mama Chowk, Bahadurgarh, District Jhajjar – 124 507, Haryana, India |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Vijay Bikhchandani |
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Designation : |
Managing Director |
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Address : |
B-2/233, Paschim Vihar, New Delhi – 110 063, India |
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Date of Birth/Age : |
25.11.1950 |
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Qualification : |
Bachelor of Engineering [B.E.] Master of Business Administration [MBA]
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Experience : |
40 Years |
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Date of Appointment : |
18.01.1990 |
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DIN No.: |
01149285 |
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PAN No.: |
AFBPB9388Q |
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Other Directorship :
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Name : |
Mr. Ved Bhushan Bhatia |
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Designation : |
Whole-time Director |
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Address : |
Flat No.338, Modern Apartment, Plot No.5, Sector-15, Rohini, New Delhi
– 110 085, India |
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Date of Birth/Age : |
04.01.1959 |
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Date of Appointment : |
10.07.1992 |
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DIN No.: |
01149755 |
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PAN No.: |
AAQPB2948A |
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Other Directorship :
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Vijay Bikhchandani |
73440 |
79.61 |
|
Ved Bhushan Bhatia |
9171 |
9.94 |
|
Vandana Harpalani |
9639 |
10.45 |
|
Total |
92250 |
100.00 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject
is engaged in the business of manufacturing of Material Handling Systems/
Equipments. |
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Products : |
·
Belt Conveyors ·
Pipe Conveyors ·
Sidewall
Conveyors ·
Idlers\Rollers
and Pulleys ·
Bucket Elevators ·
Apron Feeders \
Conveyors ·
Screw Conveyors ·
Samplers and
Sampling Systems ·
En-Masse Conveyors
and Drag Chain Conveyors ·
Automatic Bag
Slitting Machine ·
Vertiveyor ·
Air Sweep Systems ·
Vacu-Lifts / Disk
Lift Conveyors ·
Un-Loading
Systems ·
Turnkey Material
Handling Systems |
PRODUCTION STATUS (AS ON 31.03.2011):
Licensed Capacity: NA
Installed
Capacity: 10000 MT (As certified by the Management)
|
Particulars |
Unit |
Actual
Production |
|
Conveyors |
Nos. |
0 |
|
|
Sets |
16 |
|
Conveyors (In Segments) |
Nos. |
36 |
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|
Sets |
399 |
|
Material Handling Equipments |
Sets |
51 |
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Material Handling Equipments (In Segments) |
Sets |
0 |
|
Spares including Others |
Nos. |
7247 |
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|
Sets |
9 |
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|
Lots |
0 |
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Bucket Elevator (In Segments) |
Sets |
7 |
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Screw/ Chain Conveyor |
Nos. |
8 |
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MS Scrap |
Kg. |
46060 |
GENERAL INFORMATION
|
Customers : |
Steel
Industry ·
Aarti Steel
Limited, Cuttack Bhushan Power and Steel
Limited Bhushan Steel Limited, New Delhi Essar Steel Limited, Hazira Hindalco Industries Limited (Birla Copper) Jindal Steel and Power Limited JSW Monnet Ispat and Power Limited Rathi Steel Udyog Limited, Ghaziabad Sterlite Industries Limited, Tuticorin Tata Iron and Steel Company Limited Tata Sponge Iron Limited Visa Steel Cement
Industry · Al Katrana Cement Chettinad Cement Calcom Pulp
and Paper Industry · J.K. Paper Limited Star Paper Mills Glass
Industry · HNG AGI Glaspac Hyderabad Fertilizers/
Chemical Industry · Duncans Ind. Limited Kanpur National Fertilizers Limited Panipat Rock/Ore
Crushing and Screening Plant Projects · Duncans Ind. Limited Kanpur Essel Mining and Industries Limited Coal Handling/
Solid Fuel Handling/ Ash Handling Plants · Birla Copper Hindustan Lever Limited Sugar Plant · Bajaj Hindustan Sugar Limited Indian Sugar and General Engg. Corp |
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No. of Employees : |
Information declined by the Management. |
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Bankers : |
Bank of India, Rajouri Garden, New Delhi – 110 027, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S. Bansal and Associates Chartered Accountants |
|
Address : |
26, First Floor, Chawla Complex, A-215, Shakarpur Vikash Marg, Delhi –
110 092, India |
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Tel. No.: |
91-11-22430020 |
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Mobile No.: |
91-8800408908/ 9891160431 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
AARFS7044K |
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Other Related
Parties (Company having common Directors) : |
Beltyne Products (India) Private Limited, India (CIN No.: U27109DL1997PTC087450) |
CAPITAL STRUCTURE
AS ON 30.09.2013
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 |
|
92250 |
Equity Shares |
Rs.100/- each |
Rs.9.225
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 |
9.225 |
9.225 |
9.225 |
|
(b) Reserves & Surplus |
679.377 |
533.647 |
435.279 |
|
(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) |
688.602 |
542.872 |
444.504 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
3.697 |
2.402 |
1.696 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term
provisions |
2.560 |
2.793 |
2.167 |
|
Total Non-current
Liabilities (3) |
6.257 |
5.195 |
3.863 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
46.846 |
17.979 |
7.318 |
|
(b)
Trade payables |
290.585 |
209.834 |
194.802 |
|
(c)
Other current liabilities |
71.279 |
112.512 |
98.375 |
|
(d) Short-term
provisions |
260.046 |
190.655 |
142.957 |
|
Total Current
Liabilities (4) |
668.756 |
530.980 |
443.452 |
|
|
|
|
|
|
TOTAL |
1363.615 |
1079.047 |
891.819 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
148.701 |
102.377 |
86.689 |
|
(ii)
Intangible Assets |
1.074 |
1.504 |
0.000 |
|
(iii)
Capital work-in-progress |
0.085 |
32.188 |
18.478 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.036 |
0.036 |
0.036 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.298 |
0.298 |
0.293 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
150.194 |
136.403 |
105.496 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
103.807 |
103.002 |
67.210 |
|
(c)
Trade receivables |
377.675 |
213.107 |
111.522 |
|
(d) Cash
and cash equivalents |
441.305 |
385.049 |
421.945 |
|
(e)
Short-term loans and advances |
290.634 |
240.908 |
185.643 |
|
(f)
Other current assets |
0.000 |
0.578 |
0.003 |
|
Total
Current Assets |
1213.421 |
942.644 |
786.323 |
|
|
|
|
|
|
TOTAL |
1363.615 |
1079.047 |
891.819 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
NA |
|
740.902 |
|
|
|
Other Income |
NA |
|
|
|
|
|
TOTAL |
NA |
757.935 |
740.902 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
606.483 |
585.364 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE DEPRECIATION &
TAXATION AND PRIOR PERIOD ITEMS |
221.514 |
151.452 |
155.538 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
3.755 |
2.962 |
2.481 |
|
|
|
|
|
|
|
|
|
Less |
PRIOR PERIOD ITEMS |
0.326 |
0.701 |
2.709 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
217.433 |
147.789 |
150.348 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
70.631 |
48.349 |
51.396 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
146.802 |
99.440 |
98.952 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
333.647 |
235.279 |
137.402 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
0.922 |
0.922 |
0.922 |
|
|
|
Tax on Proposed Dividend |
0.150 |
0.150 |
0.153 |
|
|
BALANCE CARRIED
TO THE B/S |
479.377 |
333.647 |
235.279 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Value (C&F) |
53.257 |
1.663 |
1.966 |
|
|
TOTAL EARNINGS |
53.257 |
1.663 |
1.966 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Components and Others |
29.201 |
8.761 |
3.286 |
|
|
TOTAL IMPORTS |
29.201 |
8.791 |
3.286 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
1591.35 |
1078.00 |
1073.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
NA |
13.12 |
13.36 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.95 |
14.12 |
17.22 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.32 |
0.27 |
0.34 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.07 |
0.03 |
0.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.81 |
1.78 |
1.77 |
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 |
9.225 |
9.225 |
9.225 |
|
Reserves & Surplus |
435.279 |
533.647 |
679.377 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
444.504 |
542.872 |
688.602 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
7.318 |
17.979 |
46.846 |
|
Total borrowings |
7.318 |
17.979 |
46.846 |
|
Debt/Equity ratio |
0.016 |
0.033 |
0.068 |
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 |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
two 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 |
Yes |
|
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 |
INDEX OF CHARGES:
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10006809 |
19/06/2006 |
95,000,000.00 |
BANK OF INDIA |
RAJOURI GARDEN BRANCH, RAJOURI GARDEN, DELHI, DELHI - 110027, INDIA |
A01849637 |
|
2 |
10012435 |
19/06/2006 |
95,000,000.00 |
BANK OF INDIA |
RAJOURI GARDEN BRANCH, RAJOURI GARDEN, DELHI, DELHI - 110027, INDIA |
A02102507 |
|
3 |
80005790 |
19/06/2006 * |
15,000,000.00 |
BANK OF INDIA |
RAJOURI GARDEN BRANCH, RAJOURI GARDEN, DELHI, DELHI - 110027, INDIA |
- |
* Date of charge modification
MERGER OF GROUP COMPANIES
The scheme of amalgamation of their erstwhile group company namely Elcoma Engineers Private Limited (Transferor Company) with the company Masyc Projects Private Limited (Transferee Company) at the appointed date April 1, 2008 was approved by Hon'ble High Court of Delhi order dated. November 21st, 2008, the effective date of merger is 17.12.2008.
The amalgamation would result in synergy of business including consolidation of business resulting in achievement of economies of scale and management efficiency, reduction in administrative cost, optimization of resources, enhanced flexibility in funding of expansion plan, expansion of asset base, improvement in profitability and stronger balance sheet of merged entity etc.
Consequent upon the approval of the scheme of amalgamation, the copy of the order dated November 21, 2008 of the Hon’ble high court of Delhi was filed by the respective companies with the registrar of companies on December 17, 2008 and from the said date, being the effective date the transferor company stood merged with the company. As per the exchange ratio provided in the approved scheme, the shareholder of the transferor company (Elcoma Engineers Private Limited), have been allotted the 250 Equity Shares of Rs.100/- each of Masyc Projects Private Limited in the Swap Ratio of 1:4 of the transferee company on January 16, 2009.
The Amalgamation has been accounted for under the "Pooling of Interests Method" as prescribed by "Accounting Standard 14 - Accounting for Amalgamation [AS-14] issued by the Institute of Chartered Accountants of India. Accordingly, the assets. The liabilities, and reserve of the transferor company have been taken over at their book values on the appointed date.
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
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.60.19 |
|
|
1 |
Rs.103.15 |
|
Euro |
1 |
Rs.81.87 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
|
49 |
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.