MIRA
INFORM REPORT
|
Report Date : |
25.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
SHREE CHANDIHAR DEV RICE AND FLOUR MILL |
|
|
|
|
Registered
Office : |
At Post Chandeswar, Tangi, District Khurda, Khurda – 752023,
Orissa |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
2004 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.16.435 Millions |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAZFS7709R |
|
|
|
|
Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
|
|
|
|
Line of Business
: |
Manufacturer and Trader of Rice. |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established partnership concern having a satisfactory
track. The rating reflects concern’s sound financial risk profile and fair
profitability levels of the company. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The concern can be considered 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) |
|
|
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
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
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
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
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. Balaram Patrol |
|
Designation : |
Partner |
|
Contact No.: |
91-9437195898 |
|
Date : |
24.07.2014 |
LOCATIONS
|
Registered Office/ Factory : |
At Post Chandeswar, Tangi, District Khurda, Khurda – 752023, |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9437195898 (Mr. Balaram Patrol) |
|
Fax No.: |
Not Available |
|
E-Mail : |
PARTNERS
|
Name : |
Mr. Balaram Narasingh Patrol |
|
Designation : |
Partner |
|
Address : |
Tangi, District Khudra – 752023, |
|
Date of Birth/Age : |
17.06.1968 |
|
Qualification : |
+2 Science |
|
Experience : |
28 years |
|
Identity Card No.: |
OR/09/059/384544 |
|
PAN No.: |
AELPP5977Q |
|
Nature of Business : |
Rice Miller |
|
Present Bankers Full Name Address: |
UCO Bank, Tabgi |
|
Annual Income: |
Rs.0.715 Million (A.Y.2013-14) |
|
|
|
|
Name : |
Mr. A. Priya Ranjan Patrol |
|
Designation : |
Partner |
|
Address : |
At Post Tulisspalli, District Ganjam, |
|
Date of Birth/Age : |
01.06.1971 |
|
Qualification : |
+2 Science |
|
Experience : |
25 years |
|
Identity Card No.: |
RHY0128835 |
|
PAN No.: |
AMZPP1187E |
|
Nature of Business : |
Rice Miller |
|
Present Bankers Full Name Address: |
UCO Bank, Tangi |
|
Annual Income: |
Rs.0.649 Million |
|
|
|
|
Name : |
Mrs. Apsara Dei |
|
Designation : |
Partner |
|
Address : |
Tangi, District Khudra – 752023, |
|
Date of Birth/Age : |
10.08.1944 |
|
Experience : |
8 Years |
|
Identity Card No.: |
OR/09/059/388012 |
|
PAN No.: |
AIMPD6241J |
|
Nature of Business : |
Rice Miller |
|
Present Bankers Full Name Address: |
UCO Bank, Tangi |
|
Annual Income: |
Rs.0.584 Million (A.Y. 2013-14) |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Rice. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Advance Payment |
|
|
|
|
Purchasing : |
Cash and Advance Payment |
GENERAL INFORMATION
|
No. of Employees : |
100 (Approximately) |
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
|
Bankers : |
· UCO Bank Tangi, District Khurda, |
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Facilities : |
|
||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
JBMT Associates Chartered Accountants |
|
Address : |
Brahmapur Branch-Sri Sai Complex, Block- C, 1st Floor,
Gandhi Nagar Main Road, Brahmapur – 760001, India |
|
Tel No.: |
91-680-2226236 |
|
Mobile No.: |
91-9437061958 |
|
Email : |
CAPITAL STRUCTURE
PARTNER’S
(RS. IN MILLIONS)
|
Particulars |
Balaram Patro
35% |
A. Priya Ranjan
Patro 35% |
Apsara Dei 30% |
Total |
|
|
|
|
|
|
|
Opening Balance B/d |
4.721 |
2.820 |
4.612 |
12.153 |
|
Interests on Capital @ 12% |
0.566 |
0.338 |
0.553 |
1.458 |
|
Introducing during the year |
0.250 |
0.500 |
0.350 |
1.100 |
|
Remuneration |
0.060 |
0.060 |
0.060 |
0.180 |
|
Estimated on Truck |
0.027 |
0.027 |
0.023 |
0.078 |
|
Net Profit Transferred P and L A/c |
0.598 |
0.598 |
0.512 |
1.708 |
|
|
|
|
|
|
|
SUB TOTAL (1) |
6.222 |
4.343 |
6.110 |
16.677 |
|
|
|
|
|
|
|
Less: Drawings |
|
|
|
|
|
From Income Tax A.Y. 2013-14 and Expenses |
0.085 |
0.085 |
0.073 |
0.242 |
|
|
|
|
|
|
|
SUB TOTAL (2) |
0.085 |
0.085 |
0.073 |
0.242 |
|
|
|
|
|
|
|
NET CAPITAL (1-2) |
6.137 |
4.258 |
6.037 |
16.435 |
------------------------------------------------------------------------------------------------------------------------------
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
16.435 |
12.153 |
10.479 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
16.435 |
12.153 |
10.479 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
11.850 |
15.001 |
13.821 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
11.850 |
15.001 |
13.821 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
28.285 |
27.154 |
24.300 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
13.135 |
15.213 |
16.212 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
4.263 |
5.909 |
2.007 |
|
|
Sundry Debtors |
6.248 |
2.954 |
2.031 |
|
|
Cash & Bank Balances |
3.551 |
3.272 |
0.684 |
|
|
Other Current Assets |
1.098 |
0.888 |
3.750 |
|
|
Loans & Advances |
1.063 |
0.000 |
0.000 |
|
Total
Current Assets |
16.223 |
13.023 |
8.472 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
1.073 |
1.082 |
0.318 |
|
|
Other Current Liabilities |
0.000 |
0.000 |
0.066 |
|
|
Provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities |
1.073 |
1.082 |
0.384 |
|
|
Net Current Assets |
15.150 |
11.941 |
8.088 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
28.285 |
27.154 |
24.300 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
16.357 |
15.191 |
10.444 |
|
|
|
Other Income |
11.567 |
12.320 |
9.192 |
|
|
|
TOTAL (A) |
27.924 |
27.511 |
19.636 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
7.382 |
9.401 |
4.172 |
|
|
|
Direct Expenses |
13.153 |
10.939 |
9.290 |
|
|
|
Staff Salary and Bonus |
0.234 |
0.234 |
0.180 |
|
|
|
Rates and Taxes |
0.042 |
0.042 |
0.091 |
|
|
|
Printing and Stationery |
0.010 |
0.010 |
0.004 |
|
|
|
Telephone and Trunkall Charges |
0.022 |
0.018 |
0.015 |
|
|
|
Travelling and Conveyance |
0.099 |
0.077 |
0.085 |
|
|
|
Misc. Expenses |
0.218 |
0.138 |
0.096 |
|
|
|
Professional Tax |
0.003 |
0.003 |
0.003 |
|
|
|
Tax Audit Fees |
0.030 |
0.030 |
0.030 |
|
|
|
Interests on Partner’s Capital |
1.456 |
1.257 |
0.817 |
|
|
|
Remuneration to Partners |
0.180 |
0.180 |
0.180 |
|
|
|
TOTAL (B) |
22.829 |
22.329 |
14.963 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
5.095 |
5.182 |
4.673 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.649 |
2.191 |
2.373 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3.446 |
2.991 |
2.300 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.938 |
2.243 |
1.716 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT
TRANSFERRED TO BALANCE SHEET A/C (E-F) (G) |
1.508 |
0.748 |
0.584 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
5.40 |
2.72 |
2.97 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.22 |
4.92 |
5.59 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.14 |
2.65 |
2.37 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09 |
0.06 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.72 |
1.23 |
1.32 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
15.12 |
12.04 |
22.06 |
FINANCIAL ANALYSIS
[All figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
10.479 |
12.153 |
16.435 |
|
Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
Net worth |
10.479 |
12.153 |
16.435 |
|
|
|
|
|
|
Secured Loans |
13.821 |
15.001 |
11.850 |
|
Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
13.821 |
15.001 |
11.850 |
|
Debt/Equity ratio |
1.319 |
1.234 |
0.721 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Income |
10.444 |
15.191 |
16.357 |
|
|
|
45.452 |
7.676 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Income |
10.444 |
15.191 |
16.357 |
|
Profit |
0.584 |
0.748 |
1.508 |
|
|
5.59% |
4.92% |
9.22% |
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
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 |
No |
|
29] |
Last accounts filed at ROC |
No |
|
30] |
Major Shareholders, if available |
No |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if
available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
Yes |
|
34] |
External Agency Rating, if available |
No |
------------------------------------------------------------------------------------------------------------------------------
COMPUTATION
OF TAXABLE INCOME
(RS. IN MILLIONS)
|
HEADS OF INCOME |
AMOUNT |
|
INCOME FROM BUSINESS OR PROFESSION |
|
|
Net Profit as per Audited Profit and Loss
A/c |
0.748 |
|
Add: Remuneration |
0.180 |
|
|
|
|
Book Profit |
0.928 |
|
|
|
|
Less: Remuneration Maximum Allowable U/s
40(b) |
0.180 |
|
|
|
|
GROSS TOTAL INCOME |
0.748 |
|
|
|
|
Taxable Income Rounded Off U/s 288A |
0.748 |
|
|
|
|
Tax Due |
0.224 |
|
|
|
|
Add: Education Cess @ 3% |
0.007 |
|
|
|
|
Gross Tax |
0.231 |
|
|
|
|
Less: TDS |
0.109 |
|
|
|
|
Total |
0.122 |
|
|
|
|
Add: Penal Interests |
|
|
U/s. 234 B (April, 13 to August, 13) |
0.006 |
|
U/s 234C |
0.005 |
|
|
|
|
Paid U/s 140A |
0.133 |
|
|
|
|
Payable Refundable |
NIL |
------------------------------------------------------------------------------------------------------------------------------
BACKGROUND
OF SHREE CHANDIHAR DEV RICE AND FLOUR MILL
Subject initially formed partnership firm on
12th day of Dec., 2002 among following partners with their
respective share of profit:-
|
Name of the Partner |
Profit Sharing
Ratio |
|
|
|
|
Mr. Balaram Patro |
25% |
|
Mr. Priya Ranjan Patro |
25% |
|
Mr. Biswanath Behera |
25% |
|
Mr. Narsingh Narayan Patro |
25% |
The said firm is reconstituted on 28th
February, 2005 on the death of Biswanath Behera and Entry into partnership of
Mr. Apsara Dei w/o Late Biswanath Behera in the same terms, conditions and
clauses in the original partnership deed and the reconstituted partners are as
below.
|
Name of the Partner |
Profit Sharing
Ratio |
|
|
|
|
Mr. Balaram Patro |
25% |
|
Mr. Priya Ranjan Patro |
25% |
|
Mrs. Apsara Dei |
25% |
|
Mr. Narsingh Narayan Patro |
25% |
Further the above partnership deed was reconstituted
on 1st day of September, 2006 on account of voluntary retirement of
Mr. Narsingh Narayan Patro because of his physical problem as mentioned in his
letter of intent and same has been discussed to convinced several time with Mr.
Narsingh Naryan Pateo and not convinced for which the said partnership deed
reconstituted.
At present following are the continuing
partners and their profit sharing ratio:-
|
Name of the
Partners |
Profit Sharing
Ratio |
|
Mr. Balaram Patro |
35% |
|
Mr. Priya Ranjan Patro |
35% |
|
Mrs. Apsara Dei |
30% |
The original partner and their family members
acquired land in their personal name, leased to the firm for installation of
Raw Rice Plant at Chandeswar, Khurda.
At the beginning the promoter had approached
UCO Bank to finance the project cost amounting to Rs.2.850 Millions for which
UCO Bank, Tangi Branch has sanctioned a term loan to tune of Rs.1.800 Millions
and cash credit of Rs.0.450 Million and balance Rs.0.600 Million were
contributed by initial promoter of the firm. The said loan was sanctioned on
03.09.2003.
During the financial year
2004-05 the promoters has decided to convert Raw Rice Plant to Boil Rice Plant and approached UCO Bank for
fresh Term Loan of Rs.4.200 Millions and enhancement of CC by Rs.2.050 Millions
the total limit availed/ sanctioned as follow vide sanction letter dated
25.02.2005:-
a. Term Loan 1 – Rs.1.800
Millions
b. Term Loan 2 – Rs.4.200
Millions
c. Cash Credit – Rs.2.500
Millions
Due to the growth in the
business the unit has again approached to UCO Bank for enhancement of CC from
Rs.2.500 Millions to Rs.9.300 Millions which was sanctioned vide sanctioned
letter dated 09.01.2008.
Further CC was enhanced to Rs.14.000
Millions from Rs.9.300 Millions vide sanctioned letter dated 18.12.2009.
Further the promoter has
taken interest to install one more complete boiling unit including dryer etc.
for which estimated additional capital project cost computed amounting to
Rs.11.500 Millions and approached to UCO bank for fresh term loan.
On the request of promoters
the UCO Bank has reviewed/renewed/ fresh term loan had sanctioned vide sanction
letter dated 08.03.2011.
a. Cash Credit – Rs.14.000
Millions
b. Fresh Term Loan – Rs.7.500 Millions
c. Bank Guarantee -
Rs.2.000 Millions
As on date the unit has
outstanding on account of term loans Rs.2.091 Millions against sanction limit
of Rs.7.500 Millions and CC Rs.9.300 Millions against sanction limit of
Rs.14.000 Millions bank Guarantee Rs.2.000 Millions the term loan will be
liquidated out of capital subsidy yet to be received.
Since the demand of customer milling i.e.
Govt. agency and private parties increasing at increasing trend and public
demand for value added Rice also increasing for which the additional enhanced
project preferred by the firm.
The details of enhanced project for milling
capacity and additions of colour sorter for which following are the limits
requested:
Term Loan – Rs.15.000 Millions
Term Loan 2 conversion of foreign LC –
Rs.3.900 Millions
Cash Credit – Rs.14.000 Millions
Bank Guarantee – Rs.7.000 Millions
------------------------------------------------------------------------------------------------------------------------------
FIXED ASSETS:
· Land
· Borewell and Overhead Tank
· Factory Shed and Building
· Furniture and Fixtures
· Plant and Machinery
· Transformer and Electrical Installation
· Weighbridge
· Generator
· Stabilizer
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject are
derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.18 |
|
|
1 |
Rs.102.68 |
|
Euro |
1 |
Rs.81.03 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIT |
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 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
46 |
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.