MIRA
INFORM REPORT
|
Report Date : |
21.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
ZEAL POLYMERS PRIVATE LIMITED |
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Registered
Office : |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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|
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Date of
Incorporation : |
18.03.2005 |
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Com. Reg. No.: |
04-045726 |
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Capital Investment
/ Paid-up Capital : |
Rs. 7.500 Million |
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CIN No.: [Company Identification
No.] |
U25200GJ2005PTC045726 |
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|
Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Manufacturer of Pet Polyester Strap,
Pet Strap Roll etc. |
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No. of Employees
: |
20 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 28000 |
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|
Status : |
Small Company |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a small company in its field. Its scale of activities are
limited. Financials of 2013 could not be made available from government
department due to technical error. As per financials of 2012, there are accumulated losses recorded by
the company. However, trade relations are reported to be fair. Business is active.
Payments are reported to be slow. The company can be considered for small to medium 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.
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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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.
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Ketan Pandya |
|
Designation : |
Account Head |
|
Contact No.: |
91-2824-226790 |
|
Date : |
17.07.2014 |
LOCATIONS
|
Registered Office / Factory : |
Junagadh Road, Opposite Dhorivav, Post Box No. 10, District. Rajkot,
Dhoraji – 360410, Gujarat, India |
|
Tel. No.: |
91-2824-226790 |
|
Mobile No.: |
91-9909018128 (Mr. Ashok Patel) |
|
Fax No.: |
91-2824-226791 |
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E-Mail : |
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Website : |
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|
Location : |
Owned |
DIRECTORS
As on 12.09.2012
|
Name : |
Mr. Ashokbhai Devjibhai Vaishnav |
|
Designation : |
Director |
|
Address : |
“Nirav”, Chalovadi Plot, Dhoraji-360410, Rajkot, Gujarat, India |
|
Date of Birth/Age : |
10.06.1968 |
|
Date of Appointment : |
18.03.2005 |
|
DIN No.: |
00765704 |
|
Voter ID No.: |
GJ/05/022/369654 |
|
|
|
|
Name : |
Mr. Vipul Kanji Vaishnav |
|
Designation : |
Director |
|
Address : |
Padardiwadi, Jetpur Road, Dhoraji-360410, Rajkot, Gujarat, India |
|
Date of Birth/Age : |
08.09.1977 |
|
Date of Appointment : |
18.03.2005 |
|
DIN No.: |
00765738 |
|
Voter ID No.: |
GJ/05/022/366045 |
|
|
|
|
Name : |
Mr. Maganlal Karshanbhai Chavadiya |
|
Designation : |
Chairman |
|
Address : |
Hirparawadi, Near Old Bus Stand, Dhoraji-360410, Rajkot, Gujarat, India |
|
Date of Birth/Age : |
01.06.1963 |
|
Date of Appointment : |
18.03.2005 |
|
DIN No.: |
00765755 |
|
Voter ID No.: |
GJ/05/022/366004 |
|
|
|
|
Name : |
Mr.Pravinkumar Gandalal Mavani |
|
Designation : |
Director |
|
Address : |
Hirparawadi, Jetpur Road, Dhoraji-360410, Rajkot, Gujarat, India |
|
Date of Birth/Age : |
26.03.1966 |
|
Date of Appointment : |
01.04.2008 |
|
DIN No.: |
02119049 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 12.09.2012
|
Names of Shareholders |
No. of Shares |
|
Ashokbhai Devjibhai Vaishnav |
22500 |
|
Maganlal Karshanbhai Chavadiya |
75000 |
|
Vipul Kanji Vaishnav |
15000 |
|
Kiranben Maganlal Chavadiya |
37500 |
|
Shantilal Karshanbhai Chavadiya |
37500 |
|
Minaben Shantilal Chavadiya |
37500 |
|
Paresh Narshibhai Siroya |
7500 |
|
Parvatiben Chandulal Mavani |
15000 |
|
Jayaben Gandalal Mavani |
15000 |
|
Parulben Kishorbhai Mavani |
30000 |
|
Dineshbhai Devjibhai Vaishnav |
22500 |
|
Devjibhai Vasharambhai Vaishnav |
22500 |
|
Kanchanben Govindbhai Sangani |
22500 |
|
Rakesh Govindbhai Sangani |
22500 |
|
Meghajibhai Tejabhai Thumar |
30000 |
|
Anilaben Rameshbhai Hirapara |
15000 |
|
Kundanben Bavanjibhai Ajudiya |
15000 |
|
Kanjibhai Sambhubhai Vaishnav |
15000 |
|
Prabhaben Kanjibhai Vaishnav |
15000 |
|
Yogesh Kanjibhai Vaishnav |
15000 |
|
Sumita Yougeshkumar Vaishnav |
7500 |
|
Manishaben Vipulkumar Vaishnav |
7500 |
|
Kishorbhai Veljibhai Antala |
37500 |
|
Minaben Kishorbhai Antala |
37500 |
|
Dineshbhai Laxmanbhai Rabadiya |
22500 |
|
Laxmiben Dineshbhai Rabadiya |
15000 |
|
Vilasben Pravinbhai Mavani |
15000 |
|
Devikaben Anilbhai Mavani |
15000 |
|
Pravinkumar Gandalal Mavani |
30600 |
|
Anil Gandalal Mavani |
30000 |
|
Mukesh Chandulal Mavani |
29400 |
|
Rekha Dineshbhai Vaishnav |
7500 |
|
Bhavnaben Ashokbhai Vaishnav |
7500 |
|
|
|
|
Total |
750000 |
As on 12.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
54.08 |
|
Other top fifty shareholders |
45.92 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Pet Polyester
Strap, Pet Strap Roll etc. |
|
|
|
|
Products : |
·
Pet Polyester Strap ·
Pet Box Strapping ·
Polyethylene Terephthalate Straps ·
Polyester pet Zeal Straps ·
Strapping
Rolls ·
Pet Strapping Roll ·
Pet Strap Roll |
|
|
|
|
Selling : |
Cash / Credit |
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|
|
|
Purchasing : |
Cash / Credit |
PRODUCTION STATUS AS ON (31.03.2012)
|
Particulars |
Installed
Capacity k.g. |
Actual
Production M.T. |
|
PET Plastic Strap |
612000 |
431514 |
|
|
|
|
GENERAL INFORMATION
|
Suppliers : |
·
Plastic Blending India Limited, Daman ·
Unlk Poly Pack ·
Fibro Plast Corporation ·
Mihir Corporation ·
Associated Eng Corporation ·
Konark Plastomech Private Limited ·
Omega Plasto Compounds ·
Prasad Gwk Cooltech Private Limited ·
Prasad Koch Techlk Private Limited ·
Ravi Sunrise Ind ·
Simron Prints Private Limited ·
Labdhi Sales Corp ·
Mascot Electrotek P Ltd. |
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Customers : |
·
Multispecialty Product Industry Private
Limited, Pune ·
Eppa Agency ·
Southern Packging |
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No. of Employees : |
20 (Approximately) |
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Bankers : |
Bank Of Baroda, Dhoraji Branch, Dist. Rajkot, Dhoraji-360410, Gujarat,
India Credit Terms 1.000 Million |
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Facilities : |
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Banking
Relations : |
--- |
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Auditors : |
|
|
Name : |
K.P. Bhansali Chartered Accountant |
|
Address : |
708, Everest Complex, Opp.Shastri Ground, Subhash Road, Rajkot-360001,
Gujarat, India |
|
Tel. No.: |
91-281-2223153 / 2220123 R. 2573727 |
|
Mobile No.: |
91-9825232153 |
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E-Mail : |
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|
PAN No.: |
ABTPB9381P |
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|
|
CAPITAL STRUCTURE
As on 12.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750000 |
Equity Shares |
Rs.10/- each |
Rs. 7.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750000 |
Equity Shares |
Rs.10/- each |
Rs. 7.500
Million |
|
|
|
|
|
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
7.500 |
7.500 |
|
(a) Share Capital |
|
(0.440) |
(0.428) |
|
(b) Reserves & Surplus |
|
0.000 |
0.000 |
|
(c) Money
received against share warrants |
|
|
|
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
7.060 |
7.072 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
|
|
(i) Term Loan |
|
5.314 |
6.765 |
|
(ii) Deposit |
|
28.256 |
21.871 |
|
(b) Deferred tax liabilities (Net) |
|
0.074 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
|
33.644 |
28.636 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
3.512 |
4.830 |
|
(b) Trade payables |
|
0.646 |
0.282 |
|
(c) Other current
liabilities |
|
0.305 |
1.233 |
|
(d) Short-term provisions |
|
0.015 |
0.015 |
|
Total Current Liabilities (4) |
|
4.478 |
6.360 |
|
|
|
|
|
|
TOTAL |
|
45.182 |
42.068 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
18.034 |
19.318 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.068 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other Non-current assets |
|
0.853 |
0.946 |
|
Total Non-Current Assets |
|
18.887 |
20.332 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
15.075 |
11.617 |
|
(c) Trade receivables |
|
10.198 |
8.893 |
|
(d) Cash and cash
equivalents |
|
0.813 |
0.853 |
|
(e) Short-term loans and
advances |
|
0.173 |
0.373 |
|
(f) Other current assets |
|
0.036 |
0.000 |
|
Total Current Assets |
|
26.295 |
21.736 |
|
|
|
|
|
|
TOTAL |
|
45.182 |
42.068 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
2.500 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
2.500 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
1.515 |
|
|
2] Unsecured Loans |
|
|
19.074 |
|
|
TOTAL BORROWING |
|
|
23.089 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
23.089 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
9.218 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
5.691 |
|
|
Sundry Debtors |
|
|
5.958 |
|
|
Cash & Bank Balance |
|
|
0.409 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Deposits, Loans & Advances |
|
|
2.757 |
|
Total
Current Assets |
|
|
14.815 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
1.132 |
|
|
Statutory Liabilities |
|
|
0.035 |
|
|
Provisions for Expenses |
|
|
0.208 |
|
|
Advance from Customer |
|
|
0.229 |
|
Total
Current Liabilities |
|
|
1.604 |
|
|
Net Current Assets |
|
|
13.211 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.019 |
|
|
|
|
|
|
|
|
PROFIT & LOSS ACCOUNT |
|
|
0.502 |
|
|
DIFFERED TAX ASSET |
|
|
0.139 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
23.089 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
38.289 |
|
|
|
|
|
Other Income |
NA |
|
|
|
|
|
TOTAL |
NA |
34.059 |
29.429 |
|
|
|
|
|
|
|
|
Less |
TOTAL EXPENSES |
35.589 |
|
|
|
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
2.752 |
2.191 |
(Including
Depreciation) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
2.576 |
2.002 |
29.187 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
0.176 |
0.189 |
0.242 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
0.115 |
0.151 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
NA |
0.074 |
0.091 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
NA |
0.10 |
0.12 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA |
0.22 |
0.31 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.46 |
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.39 |
0.42 |
0.58 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02 |
0.03 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.50 |
1.25 |
1.64 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.87 |
5.87 |
3.42 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
7.500 |
7.500 |
|
Reserves & Surplus |
(0.428) |
(0.440) |
|
Net
worth |
7.072 |
7.060 |
|
|
|
|
|
long-term borrowings |
28.636 |
33.570 |
|
Short term borrowings |
4.830 |
3.512 |
|
Total
borrowings |
33.466 |
37.082 |
|
Debt/Equity
ratio |
4.732 |
5.252 |
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 One 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 |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
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 |
Yes |
|
34] |
External Agency Rating, if available |
No |
UNSECURED LOAN:
[Rs.
in Millions]
|
Particulars |
31.03.2012 [Rs.
in Millions] |
31.03.2011 [Rs.
in Millions] |
|
Long Term
Borrowing |
|
|
|
Deposits from Directors |
4.776 |
4.214 |
|
Deposits from Members |
23.480 |
17.657 |
|
Total |
28.256 |
21.871 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
80035747 |
19/10/2010 * |
12,200,000.00 |
BANK OF BARODA |
DHORAJI BRANCH, DIST. RAJKOT, DHORAJI, Gujarat - |
A98497548 |
* Date of charge modification
FIXED ASSETS
·
Air conditioner
·
Car
·
Computer
·
Cycle
·
Electric Fittings/Installation
·
Factory Building
·
Furniture
·
Transformer
·
Honda Etemo
·
Land
·
Plant and Machinery
·
Refrigerator
·
T.V
·
Water Filter
·
Weighing scale
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.60.33 |
|
|
1 |
Rs.103.18 |
|
Euro |
1 |
Rs.81.58 |
INFORMATION DETAILS
|
Information
Gathered by : |
HEN |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
ARI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.