MIRA INFORM REPORT
|
Report Date : |
06.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
PUNJAB STATE POWER CORPORATION LIMITED |
|
|
|
|
Registered
Office : |
PSEB, Head Office, The Mall, Patiala – 147001, Punjab |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 (Provisional) |
|
|
|
|
Date of
Incorporation : |
16.04.2010 |
|
|
|
|
Com. Reg. No.: |
16-033813 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.500 Million (As on 31.03.2011) |
|
|
|
|
CIN No.: [Company Identification
No.] |
U40109PB2010SGC033813 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AMRP12976F AMRP12923B PTLP14332D AMRP12899F JLDP03772G JLDP03596F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCP5120Q |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Power Generating and Distribution Organization |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Exists |
|
|
|
|
Comments : |
Subject is owned by the Government of Punjab. It is an established
company having a satisfactory track. As per Registrar of companies the date of Balance sheet i.e. Financials
filed is shown as 31st March, 2013 but the documents related to
the financials for the year 2013 are not available from any sources. Financial position of the company seems to be decent. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct and as per commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. Note: The financial
information for the year 2012 are unaudited. |
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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects positive
impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1 million
Indian tourists in 2012), Thailand (one million), the United Arab Emirates
().98 million) and Malaysia ().82 million) emerged as the preferred holidays
hotspots for Indians. The total figure is expected to increase to 1.93 million
by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs.7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities: BB+ |
|
Rating Explanation |
Have moderate risk of default. |
|
Date |
31.03.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities: A4 |
|
Rating Explanation |
Have minimal degree of safety and carry very
high credit risk. |
|
Date |
31.03.2014 |
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 CO-OPERATIVE.
Contact No.: 91-175-2301367
LOCATIONS
|
Registered Office : |
PSEB, Head Office, The Mall, Patiala – 147001, Punjab, India |
|
Tel. No.: |
91-175-2301367 |
|
Fax No.: |
91-175-2213199 |
|
E-Mail : |
|
|
Website : |
http://www.punjabpower.com
|
DIRECTORS
(AS ON 30.09.2013)
|
Name : |
Mr. Subash Chand Arora |
|
Designation : |
Whole Time Director |
|
Address : |
4155, Phase-II, Urban Estate, Patiala-147001, Punjab, India |
|
Date of Birth/Age : |
15.08.1957 |
|
Date of Appointment : |
03.06.2010 |
|
DIN No.: |
00154601 |
|
|
|
|
Name : |
Mr. Gurbachan Singh Chhabra |
|
Designation : |
Whole Time Director |
|
Address : |
1, Thermal Power Colony, GHTP, Lehra Mohabbat-151111, Punjab, India |
|
Date of Birth/Age : |
29.05.1952 |
|
Date of Appointment : |
03.06.2010 |
|
DIN No.: |
01631670 |
|
|
|
|
Name : |
Mr. Deva Pampapathi Reddy |
|
Designation : |
Nominee director |
|
Address : |
#
901, Sector 39-A, Chandigarh – 160036, Haryana, India |
|
Date of Birth/Age : |
10.12.1958 |
|
Date of Appointment : |
26.04.2013 |
|
DIN No.: |
01939650 |
|
|
|
|
Name : |
Mr. Anirudh Tewari |
|
Designation : |
Nominee Director |
|
Address : |
#2-A, Vikas Colony, Outside Sirhndi Gate, Patiala-147001, Punjab,
India |
|
Date of Birth/Age : |
02.04.1967 |
|
Date of Appointment : |
26.07.2011 |
|
DIN No.: |
02682553 |
|
|
|
|
Name : |
Mr. Karan Deep Chaudhari |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
7, Power Colony-1, Model town, Patilala-147001, Punjab, India |
|
Date of Birth/Age : |
09.02.1952 |
|
Date of Appointment : |
03.06.2010 |
|
DIN No.: |
03114565 |
|
|
|
|
Name : |
Mr. Surinder Pall |
|
Designation : |
Whole Time Director |
|
Address : |
H. No.528, Sector-16D, Chandigarh-160016, Punjab, India |
|
Date of Birth/Age : |
05.10.1954 |
|
Date of Appointment : |
30.08.2010 |
|
DIN No.: |
03249782 |
|
|
|
|
Name : |
Mr. Kulwant Lal Sharma |
|
Designation : |
Whole Time Director |
|
Address : |
H. No.17-D, Rani Ka Bagh, Ward No.29, Amritsar – 143001, Punjab, India
|
|
Date of Birth/Age : |
18.07.1955 |
|
Date of Appointment : |
25.07.2013 |
|
DIN No.: |
06650983 |
|
|
|
|
Name : |
Mr. Gurbachan Singh |
|
Designation : |
Whole-time director |
|
Address : |
House No.14-B, Punjab Bagh, Patiala – 147001, Punjab, India |
|
Date of Birth/Age : |
10.04.1956 |
|
Date of Appointment : |
13.01.2014 |
|
DIN No.: |
03134256 |
KEY EXECUTIVES
|
Name : |
Mr. Jaspal Singh |
|
Designation : |
Secretary |
|
Address : |
#MIG-550, Urban Estate, Phase-1, Patiala, Punjab, India |
|
Date of Birth/Age : |
01.04.1967 |
|
Date of Appointment : |
27.04.2010 |
|
Pan No.: |
AFWPS4196Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2013)
|
Name of
Shareholders |
|
No of
Shares |
|
|
|
|
|
Governor of Punjab |
|
6081424259 |
|
Subodh Chandra Agarwal |
|
10000 |
|
Arun Goel |
|
10000 |
|
Anurag Agarwal |
|
10000 |
|
Gopal Krishan Singh |
|
5000 |
|
Anirudh Tewari |
|
5000 |
|
Rakesh Kumar Verma |
|
5000 |
|
Vijoy Kumar Singh |
|
5000 |
|
|
|
|
|
Total |
|
6081474259 |
(AS ON 30.09.2013)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Government
[Central and State] |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Power Generating and Distribution Organization |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
· State Bank of Patiala Mall Road Branch, Patiala – 147001, Punjab, India |
|
|
|
|
Facilities : |
-- |
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
· Rural Electrification Corporation Limited Core 4 Scope Complex, 7, Lodi Road, New Delhi - 110003, India · Power Finance Corporation Limited Urja Nidhi, 1, Barakhamba Lane, Cannaught Place, New Delhi – 110001, India |
|
|
|
|
Auditors : |
|
|
Name : |
B. Rattan and Associates Chartered Accountants |
|
Address : |
408-409, Mehak Tower, Kailash Cinema Road, Civil Lines Ludhiana –
141001, Punjab, India |
|
PAN No.: |
AADFB9964H |
|
|
|
|
Subsidiary Company : |
· Gidderbaha Power Limited |
CAPITAL STRUCTURE
(AS ON 30.09.2013)
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000000 |
Equity Shares |
Rs.10/- each |
Rs.200000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6081474259 |
Equity Shares |
Rs.10/- each |
Rs.60814.743
Millions |
|
|
|
|
|
(AS ON 31.03.2011)
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000000 |
Equity Shares |
Rs.10/- each |
Rs.200000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500
Million |
|
|
|
|
|
FINANCIAL DATA
[All figures are
in Rupees Millions]
BALANCE SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2012 (Provisional) |
|
I. GENERATION |
|
|
|
|
A. Hydro |
|
|
|
|
Shahour Kandi Project |
|
|
-- |
|
Mukerjan Hydel Project – II |
|
|
37.800 |
|
BBMB – Bhakra Left Bank |
|
|
282.200 |
|
R and M of PSPCL Hydel Projects |
|
|
13.900 |
|
Institute of Power Management |
|
|
-- |
|
Total: A (Hydro) |
|
|
333.900 |
|
|
|
|
|
|
B. Thermal |
|
|
|
|
GHTP-I, Lehra Mohabat (including R and M) |
|
|
3.100 |
|
GHTP-II Lehra Mohabat |
|
|
146.700 |
|
Gas based at Ropar |
|
|
- |
|
R and M of GNDTP Bathindra Ph-I and II |
|
|
724.700 |
|
GNDTP – Capital Works other than R and M |
|
|
|
|
R and M of GGSSTP, Ropar |
|
|
302.000 |
|
GGSSTP – Capital Works other than R and M |
|
|
|
|
1320 MW State Sector Thermal Mukerian |
|
|
-- |
|
Computerization of TPPs |
|
|
-- |
|
Total: B (Thermal) |
|
|
1176.500 |
|
Total Generation (A+B) |
|
|
1510.400 |
|
|
|
|
|
|
|
|
|
|
|
Transmission Works including APDRP |
|
|
132.400 |
|
PLC Works |
|
|
|
|
Capital Mtc. of Power T/Fs |
|
|
|
|
Replacement of damaged Power Transformers |
|
|
|
|
Replacement of66/33KV S/Stn. Equipments |
|
|
|
|
Capacitor Banks |
|
|
|
|
Furniture and Petty Items for Offices |
|
|
|
|
|
|
|
|
|
III.
DISTRIBUTION WORKS |
|
|
|
|
Normal development work including SIS |
|
|
6673.800 |
|
Under APDRP-II Part-A |
|
|
745.400 |
|
Under APDRP-II Part-B |
|
|
|
|
RGGVY |
|
|
28.600 |
|
Shifting of meters |
|
|
115.600 |
|
Providing 11KV manual operative swiched capacitors |
|
|
-- |
|
Release of Tubewell connections for General Connection and sem affected area |
|
|
525.600 |
|
M.E. Labs and Workshops |
|
|
-- |
|
Comprehensive T&D Losses reduction plan |
|
|
207.800 |
|
Annual planned works for communication equipment and website of SLDC |
|
|
-- |
|
IT works |
|
|
-- |
|
Renovation of TTI Complex and Auditorium |
|
|
-- |
|
Works under CE/Workshop |
|
|
-- |
|
Total: II & III |
|
|
8429.200 |
|
Grand Total:(I
To III) |
|
|
9939.600 |
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.500 |
|
|
2] Share Application Money |
|
|
60814.243 |
|
|
3] Reserves & Surplus |
|
|
72627.597 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
133442.340 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
120796.857 |
|
|
2] Unsecured Loans |
|
|
84375.668 |
|
|
TOTAL BORROWING |
|
|
205172.525 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
338614.865 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
300439.820 |
|
|
Capital work-in-progress |
|
|
30321.447 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
4381.428 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
4717.677 |
|
|
Sundry Debtors |
|
|
20057.004 |
|
|
Cash & Bank Balances |
|
|
3718.555 |
|
|
Other Current Assets |
|
|
10519.571 |
|
|
Loans & Advances |
|
|
4331.645 |
|
Total
Current Assets |
|
|
43344.452 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
39954.333 |
|
|
Other Current Liabilities |
|
|
0.000 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
39954.333 |
|
|
Net Current Assets |
|
|
3390.119 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
82.051 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
338614.865 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2012 (Provisional) |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Sale of Power |
|
112110.500 |
94729.704 |
|
|
|
Tariff Compensation from State Government |
|
41820.000 |
32171.909 |
|
|
|
Other Income |
|
8293.900 |
4052.134 |
|
|
|
TOTAL (A) |
|
162224.400 |
130953.747 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of Power |
|
55412.500 |
57341.106 |
|
|
|
Generation of Power |
|
-- |
32778.898 |
|
|
|
Repairs and Maintenance |
|
-- |
3447.613 |
|
|
|
Employee’s cost |
|
-- |
31098.159 |
|
|
|
Administrative and General Expenses |
|
37158.500 |
979.646 |
|
|
|
Other Debits |
|
46728.600 |
248.629 |
|
|
|
Less: Other Expenses Capitalized |
|
-- |
(1328.618) |
|
|
|
TOTAL (B) |
|
139299.600 |
124565.433 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
22924.800 |
6388.314 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
21315.900 |
15948.776 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
1608.900 |
(9560.462) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
7059.600 |
6837.211 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
|
(5450.700) |
(16397.673) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
(1110.300) |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
|
(4340.400) |
(16397.673) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2012 (Provisional) |
31.03.2011 |
|
PAT / Total Income |
(%) |
|
(2.68) |
(12.52) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
(4.86) |
(17.31) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
-- |
(4.77) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
-- |
(0.12) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
-- |
1.54 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
-- |
1.08 |
FINANCIAL ANALYSIS
[All figures are
in Rupees Millions]
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 (Provisional) |
|
|
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from Sale of
Power |
94,729.704 |
1,12,110.500 |
|
|
18.348 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 (Provisional) |
|
|
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from Sale of
Power |
94,729.704 |
1,12,110.500 |
|
Profit |
(16,397.673) |
(4,340.400) |
|
|
(17.31%) |
(3.87%) |
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 |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last two years |
Yes |
|
12] |
Profitability for last two years |
Yes |
|
13] |
Reasons for variation <> 20% |
----- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm / promoter
involved in |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
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 |
------------------------------------------------------------------------------------------------------------------------------
PUNJAB AND HARYANA HIGH
COURT
CASE STATUS
INFORMATION SYSTEMS
CASE STATUS:
PENDING
|
Status of Regular Second Appeal 1391 of 2014 M/s H. S. Sandhu Builders Private Limited Vs. Punjab state Power Corp
Limited and OORS Pet’s Adv.: Jasmail Singh Brar Last Listed On: No Date Mentioned List Type: No List Type Mentioned FIR No.:: No FIR details available / Not a
criminal case Complaint No.: No complaint details
available Category: RSA No Bench Mentioned Last Hearing detail 2: No Bench
Mentioned Case Updated on:
Thursday, March 13, 2014 |
------------------------------------------------------------------------------------------------------------------------------
FIXED ASSETS
· Land
· Building
· Hydraulic Works
· Other Civil Works
· Plant and Machinery
· Vehicles
· Furniture and Fixtures
· 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 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.59.34 |
|
|
1 |
Rs.99.18 |
|
Euro |
1 |
Rs.80.76 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
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 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
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 |
|
51 |
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.