MIRA
INFORM REPORT
|
Report Date : |
15.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
SYRMA TECHNOLOGY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit No. 601, 6th Floor, Floral |
|
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|
Country : |
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|
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|
|
Financials (as
on) : |
31.03.2011 |
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|
|
|
Date of
Incorporation : |
23.08.2004 |
|
|
|
|
Com. Reg. No.: |
11-148165 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 75.250 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U30007MH2004PTC148165 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS45407F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAICS5745D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of Information Technology Products. |
|
|
|
|
No. of Employees
: |
800 (Approximately) |
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
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|
|
|
Litigation : |
Exist |
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|
|
Comments : |
Subject is an established company having a moderate track record. Financial for the year 2013 could not be made available from
government department due to technical error. As per available of 2011, financial position of the company seems to
be decent. However, trade relations are reported as fair. Business is active.
Payment terms are reported to be unknown. The company can be considered for business dealings 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
N E W S
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 wih 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
India Rating (FITCH) |
|
Rating |
Long term = BB+ |
|
Rating Explanation |
Have moderate risk of default. |
|
Date |
May 21, 2013 |
|
Rating Agency Name |
India Rating (FITCH) |
|
Rating |
Short term = A4+ |
|
Rating Explanation |
Have minimal degree of safety and carry very
high credit risk. |
|
Date |
May 21, 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. Varadarajan |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-44-71728625 |
|
Date : |
15.07.2014 |
LOCATIONS
|
Registered Office : |
Unit No. 601, 6th Floor, Floral Deck Plaza, MIDC, Andheri
(East), Mumbai – 400093, Maharashtra, India |
|
Tel. No.: |
91-22-40363000 |
|
Fax No.: |
91-22-28291176 |
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E-Mail : |
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|
Website : |
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|
Location : |
Owned |
|
|
|
|
Factory : |
Plot No.B27, Phase II, Zone B, MEPZ-SEZ, Tambaram, Chennai – 600045,
Tamilnadu, India |
|
Tel. No.: |
91-44-22628600/ 71728600 |
|
Fax No.: |
91-44-22628612/ 71728612 |
|
|
|
|
Overseas Offices : |
Located at: ·
United States ·
Europe ·
Singapore |
DIRECTORS
AS ON 25.09.2013
|
Name : |
Mr. Sandeep Tandon |
|
Designation : |
Director |
|
Address : |
37, Merry Niketan, Mount Mary Road, Bandra (West), Mumbai - 400050,
Maharashtra, India |
|
Date of Birth/Age : |
17.05.1969 |
|
Date of Appointment : |
29.12.2004 |
|
DIN No.: |
00054553 |
|
|
|
|
Name : |
Mr. Vasu Thirumalai |
|
Designation : |
Director |
|
Address : |
A-603, Cascade Vasant Oscar, LBS Marg, Mulund (West), Mumbai –
400080, Maharashtra, India |
|
Date of Birth/Age : |
02.03.1944 |
|
Date of Appointment : |
29.11.2007 |
|
DIN No.: |
00311691 |
KEY EXECUTIVES
|
Name : |
Mr. Narendra Kumar Nagori |
|
Designation : |
Secretary |
|
Address : |
B-14, Building No. 5, Nalanda, Mittal Enclave, Naigaon [East], Vasai, Thane
– 401202, Maharashtra, India |
|
Date of Birth/Age : |
07.02.1983 |
|
Date of Appointment : |
18.06.2010 |
|
PAN No.: |
AFSPN5761Q |
|
|
|
|
Name : |
Mr. Anand Rajan |
|
Designation : |
Accounts Manager |
|
|
|
|
Name : |
Mr. Varadarajana |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 25.09.2013
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Veena Kumari Tandon |
|
2100 |
|
Tancom Electronics Private Limited, India |
|
522900 |
|
|
|
|
|
Total |
|
525000 |
|
|
||
|
Names of Shareholder (Preference Shares) |
|
No. of Shares |
|
Tancom Electronics Private Limited, India |
|
700000 |
|
|
|
|
|
Total |
|
700000 |
AS ON 30.09.2013
Equity Shares Break-up
|
Category |
|
Percentage of
Holding |
|
Bodies corporate |
|
99.60 |
|
Directors or relatives of Directors |
|
0.40 |
|
|
|
|
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Information Technology Products. |
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Products : |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
· Asian Countries · European Countries |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
· China |
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Terms : |
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Selling : |
L/C and Credit |
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Purchasing : |
L/C and Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
Magnetic Coils and Coil Subassemblies |
Nos. |
20000000 |
13137605 |
|
Memory Devices |
Nos. |
Not specified |
2223784 |
|
Antenna |
Nos. |
80000 |
78,075 |
GENERAL INFORMATION
|
Customers : |
End Users |
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No. of Employees : |
800 (Approximately) |
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|
Bankers : |
· State Bank of India SME Guindy
Branch, 65-A, G.S.T Road, Chennai – 600032, Tamilnadu, India Contact No.:
91-44-22501016 |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
R. Subramanian and Company Chartered Accountants |
|
Address : |
New No. 6 (36), Krishnaswamy Avenue, Mylapore Luz, Chennai - 600004, Tamilnadu, India |
|
PAN No.: |
AAAFR0602F |
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|
|
|
Holding Company : |
Tancom Electronics Private Limited CIN No. U32107MH1988PTC047729 |
|
|
|
|
Company under the
same Management : |
· Syrmatech Singapore Pte. Limited, Singapore · Tancom Electronics Private Limited · Crucible Trading Company Private Limited · Fondue Trading Company Limited · Memory Electronics Private Limited · 3G Wireless Communications Private Limited · Reliable Consultancy Services Private Limited · Syrma Services and Solutions Private Limited · Tandon Advance Devices Private Limited · Tandon Information Solutions Private Limited · S. T. Holdings Private Limited ·
Tandon Holdings Limited |
CAPITAL STRUCTURE
AS ON 25.09.2013
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3500000 |
Equity Shares |
Rs.10/- each |
Rs. 35.000 Millions |
|
900000 |
Preferences Shares |
Rs.100/- each |
Rs. 90.000 Millions |
|
|
|
|
|
|
|
Total
|
|
Rs.
125.000 Millions |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
525000 |
Equity Share |
Rs.10/- each |
Rs. 5.250 Millions |
|
700000 |
Preferences Shares |
Rs.100/- each |
Rs. 70.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 75.250
Millions |
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
75.250 |
75.250 |
75.250 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
119.492 |
82.366 |
59.489 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
194.742 |
157.616 |
134.739 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
266.327 |
203.186 |
91.077 |
|
|
2] Unsecured Loans |
142.115 |
69.976 |
9.200 |
|
|
TOTAL BORROWING |
408.442 |
273.162 |
100.277 |
|
|
DEFERRED TAX LIABILITIES |
11.392 |
8.890 |
6.598 |
|
|
|
|
|
|
|
|
TOTAL |
614.576 |
439.668 |
241.614 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
152.324 |
129.429 |
108.515 |
|
|
Capital work-in-progress |
0.550 |
5.225 |
13.731 |
|
|
|
|
|
|
|
|
INVESTMENT |
11.000 |
1.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
364.733
|
216.741 |
118.490 |
|
|
Sundry Debtors |
558.933
|
472.800 |
124.123 |
|
|
Cash & Bank Balances |
47.702
|
84.827 |
17.503 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
107.282
|
82.124 |
49.416 |
|
Total
Current Assets |
1078.650
|
856.492 |
309.532 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
538.346 |
483.200 |
150.190 |
|
|
Other Current Liabilities |
57.550
|
45.402 |
20.643 |
|
|
Provisions |
32.052
|
23.876 |
19.331 |
|
Total
Current Liabilities |
627.948
|
552.478 |
190.164 |
|
|
Net Current Assets |
450.702
|
304.014 |
119.368 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
614.576 |
439.668 |
241.614 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
1968.900 |
1487.700 |
1061.200 |
|
|
|
Other Income |
NA |
NA |
33.335 |
|
|
|
TOTAL (A) |
NA |
NA |
1094.535 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
NA |
NA |
1034.055 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
71.692 |
60.480 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
31.412 |
15.039 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
40.280 |
45.441 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
9.841 |
5.844 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
47.232 |
30.439 |
39.597 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
10.106 |
7.562 |
13.944 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
37.126 |
22.877 |
25.653 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
57.616 |
34.739 |
9.086 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
94.742 |
57.616 |
34.739 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1119.600 |
431.766 |
955.452 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
848.321 |
661.310 |
670.390 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
53.04 |
32.68 |
38.68 |
|
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Sales Turnover (Approximately) |
2300.000 |
2000.000 |
1480.000 |
|
|
|
|
|
The above information has been parted by Mr. Varadarajan [Accounts
Department]
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
NA
|
2.34 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA
|
3.73 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.84
|
3.09 |
9.47 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24
|
0.19 |
0.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.32
|
5.24 |
2.16 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.72
|
1.55 |
1.63 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2009 |
31.03.2010 |
31.03.2011 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
75.250 |
75.250 |
75.250 |
|
Share Application Money |
0.000 |
0.000 |
0.000 |
|
Reserves & Surplus |
59.489 |
82.366 |
119.492 |
|
(Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
Net
worth |
134.739 |
157.616 |
194.742 |
|
|
|
|
|
|
Secured Loans |
91.077 |
203.186 |
266.327 |
|
Unsecured Loans |
9.200 |
69.976 |
142.115 |
|
Total
borrowings |
100.277 |
273.162 |
408.442 |
|
Debt/Equity ratio |
0.744 |
1.733 |
2.097 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2009 |
31.03.2010 |
31.03.2011 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Turnover |
1061.200 |
1487.700 |
1968.900 |
|
|
|
40.190 |
32.345 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2009 |
31.03.2010 |
31.03.2011 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Turnover |
1061.200 |
1487.700 |
1968.900 |
|
Profit |
25.653 |
22.877 |
37.126 |
|
|
2.42% |
1.54% |
1.89% |
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 |
No |
|
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 |
Yes |
|
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 |
Yes |
LITIGATION
DETAILS
|
HIGH COURT OF BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
Presentation
Date: 21.02.2014 |
|
Lodging No: CPL/97/2014 Filing Date:
21.02.2014 Reg. No.: CP/294/2014 Reg. Date: 21.04.2014 |
|
Petitioner: JIANGSU SKYRUN WUXI CO. LTD Respondent: SYRMA
TECHNOLOGY PVT. LTD. Petn. Adv : M/S. DHRUVE LILADHAR & CO. (151) Resp. Adv.: PDS LEGAL (826) District: OUTSIDE MAHARASHTRA |
|
Bench: SINGLE Status: Pre-Admission
Category: COMPANY PETITION U/SEC 433,434,439 COMPANIES ACT Next Date: 24.07.2014
Stage: FOR ADMISSION - FOB Coram: HON’BLE SHRI JUSTICE S.J. KATHAWALLA Last Date: 10.07.2014 Stage: FIRST
ON BOARD [ORIGINAL SIDE MATTERS] Coram: HON’BLE SHRI JUSTICE S.J. KATHAWALLA |
|
Act: Companies Act & Rules 1956 UNDER SECTION: 433, 434 &
439 |
CURRENT MATURITIES
OF LONG TERM DEBT: NOT AVAILABLE
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10063394 |
22/05/2014 * |
522,000,000.00 |
STATE BANK OF INDIA |
SME GUINDY BRANCH, 65-A, G.S.T ROAD, CHENNAI, TAMILNADU - 600032, INDIA |
C06546493 |
* Date of charge modification
UNSECURED LOAN
|
Particulars |
31.03.2011 (Rs.
In Millions) |
31.03.2010 (Rs.
In Millions) |
|
Other Debt |
142.115 |
69.976 |
|
|
|
|
|
Total |
142.115 |
69.976 |
CHANGE OF ADDRESS
The Registered Office of the company has been
shifted from “C – 1, Udyog Sadan 3, MIDC Central Road, Andheri (East),
Mumbai – 400093, Maharashtra, India” to the present address w.e.f.17.07.2012.
PERFORMANCE REVIEW
The Company continued to record a strong growth in its sales. During the year the Company had achieved a turnover of Rs.1968.900 Millions as compared to Rs.1487.700 Millions in the previous year, registering a growth of about 22.44%. The profit before tax for the year amounted to Rs.47.200 Millions as against Rs.30.400 Millions in the previous year, registering a increase of about 55.16%, while the net profit amounted to Rs.37.100 Millions as compared to Rs.22.800 Millions in the previous year.
CONTINGENT
LIABILITIES
|
Particulars |
31.03.2011 (Rs.
In Millions) |
31.03.2010 (Rs.
In Millions) |
|
|
|
|
|
Letter of Credit facility from Bank |
115.296 |
243.182 |
|
Corporate Guarantees given by the company for the loans taken by others from Scheduled Banks/Financial Institutions |
313.700 |
101.236 |
|
Bank guarantees from scheduled banks |
139.690 |
123.765 |
FIXED ASSETS
· Building
· Plant and Machinery
· Office Equipment
· Computers
· Furniture and Fittings
· Vehicles
· Electrical Fittings and Installation
· 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. 60.01 |
|
|
1 |
Rs. 102.72 |
|
Euro |
1 |
Rs. 81.60 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--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 |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--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.