MIRA INFORM REPORT
|
Report Date : |
23.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
NIFCO INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 122, Sector 8, Industrial Estate, IMT – Manesar,
Gurgaon – 122050, Haryana |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2012 |
|
|
|
|
Date of
Incorporation : |
25.06.2010 |
|
|
|
|
Com. Reg. No.: |
05-040767 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.450.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25203HR2010FTC040767 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RTKN02774C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCN3340G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader and Importer of Plastic Fasteners and Plastic
Components. |
|
|
|
|
No. of Employees
: |
Not Divulged |
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 |
|
Maximum Credit Limit : |
USD 1147000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The management has failed to file its financial record with government
department for the year 2013. As per available financial record of 2012, the rating is constrained
on account of company’s moderate
financial year profile marked by continuous accumulated losses incurred over
a year and weak financial performance of the company. However, trade relations are fair. Business is active. Payment terms
are slow. The company can be considered for business dealing 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
31-03-2012.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Hirish Gupta |
|
Designation : |
Finance Department |
|
Contact No.: |
91-124-4998214 |
|
Date : |
19.06.2014 |
LOCATIONS
|
Registered Office : |
Plot No. 122, Sector 8, Industrial Estate, IMT – Manesar,
Gurgaon – 122050, Haryana, India |
|
Tel. No.: |
91-124-2803366/ 4998214 |
|
Fax No.: |
91-124-4998249 |
|
E-Mail : |
DIRECTORS
As on: 29.06.2013
|
Name : |
Kiyohiko Fukawa |
|
Designation : |
Director |
|
Address : |
3005 2-1 Kinko cho Kanagawaku, Yokohama shi Kanagawa, 2210056, Japan |
|
Date of Birth/Age : |
14.05.1953 |
|
Date of Appointment : |
25.06.2010 |
|
DIN No.: |
02975547 |
|
|
|
|
Name : |
Mr. Udaya Shankar |
|
Designation : |
Director |
|
Address : |
D-705, Awho, Sispal Vihar, South City-2, Sector-49, Sohna Road,
Gurgaon – 122018, Haryana, India |
|
Date of Birth/Age : |
02/11/1964 |
|
Date of Appointment : |
01/03/2014 |
|
DIN No.: |
06841457 |
|
|
|
|
Name : |
Toshiyuki Yamamoto |
|
Designation : |
Director |
|
Address : |
2-32-18, Asahigaoka, HINO-SHI, Tokyo |
|
Date of Birth/Age : |
11/10/1949 |
|
Date of Appointment : |
15/03/2013 |
|
DIN No.: |
06530590 |
|
|
|
|
Name : |
Osamu Kishii |
|
Designation : |
Director |
|
Address : |
7-803, Kuzugaya, Tsuzuki-KU, Yokohama, 122001 |
|
Date of Birth/Age : |
24/01/1955 |
|
Date of Appointment : |
15/03/2013 |
|
DIN No.: |
06526862 |
KEY EXECUTIVES
|
Name : |
Mr. Hirish Gupta |
|
Designation : |
Finance Department |
|
|
|
|
Name : |
Ms. Renuka Shukla |
|
Designation : |
Secretary |
|
Address : |
S-224FF, Uppals South End, Sohan Road, Gurgaon, Haryana, India |
|
Date of Birth/Age : |
26.01.1978 |
|
Date of Appointment : |
16.08.2012 |
|
PAN No.: |
BHDPS8518N |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 29.06.2013
|
Names of Shareholders |
|
No. of Shares |
|
NIFCO Inc., Japan |
|
5499999 |
|
NIFCO (Singapore) Pte. Limited, Singapore (Nominee of NIFCO Inc.) |
|
1 |
|
|
|
|
|
Total |
|
5500000 |
As on: 20.11.2013
|
Names of Allottee |
|
No. of Shares |
|
NIFCO Inc., Japan |
|
500000 |
|
|
|
|
|
Total |
|
500000 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.06.2013
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Plastic Fasteners and Plastic
Components. |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
|
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Depend |
|
|
|
|
Purchasing : |
Depend |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|
|
|
|
Bankers : |
HDFC Bank Limited |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
ASA and Associates Chartered Accountants |
|
Address : |
KS House 118, Shahpur Jat, New Delhi – 110049, India |
|
PAN No.: |
AAAFA4690A |
|
|
|
|
Holding Company : |
Nifco Inc., Japan |
|
|
|
|
Share Holding
Company : |
Nifco (Singapore) Pte. Limited |
|
|
|
|
Fellow Subsidiary : |
|
CAPITAL STRUCTURE
After: 29.06.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000000 |
Equity Shares |
Rs.100/- each |
Rs.600.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000000 |
Equity Shares |
Rs.100/- each |
Rs.600.000 Millions |
|
|
|
|
|
As on: 29.06.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000000 |
Equity Shares |
Rs.100/- each |
Rs.600.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5500000 |
Equity Shares |
Rs.100/- each |
Rs.550.000 Millions |
|
|
|
|
|
As on: 31.12.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5500000 |
Equity Shares |
Rs.100/- each |
Rs.550.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4500000 |
Equity Shares |
Rs.100/- each |
Rs.450.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.12.2012 |
31.12.2011 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
450.000 |
350.000 |
|
(b) Reserves & Surplus |
|
(263.182) |
(132.755) |
|
(c) Money received against share
warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
100.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
286.818 |
217.245 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
|
5.879 |
6.889 |
|
(c) Other long term
liabilities |
|
5.640 |
0.387 |
|
(d) long-term provisions |
|
4.327 |
2.425 |
|
Total
Non-current Liabilities (3) |
|
15.846 |
9.701 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
0.000 |
|
(b) Trade payables |
|
50.383 |
51.673 |
|
(c) Other current liabilities |
|
5.066 |
3.356 |
|
(d) Short-term provisions |
|
0.951 |
0.145 |
|
Total
Current Liabilities (4) |
|
56.400 |
55.174 |
|
|
|
|
|
|
TOTAL |
|
359.064 |
282.120 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
217.243 |
138.935 |
|
(ii) Intangible Assets |
|
1.536 |
2.261 |
|
(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 |
0.000 |
|
(d) Long-term Loan and Advances |
|
12.264 |
12.010 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
231.043 |
153.206 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
39.109 |
13.015 |
|
(c) Trade receivables |
|
16.570 |
7.695 |
|
(d) Cash and cash equivalents |
|
38.822 |
93.277 |
|
(e) Short-term loans and
advances |
|
33.520 |
14.927 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
128.021 |
128.914 |
|
|
|
|
|
|
TOTAL |
|
359.064 |
282.120 |
|
SOURCES OF FUNDS |
|
|
31.12.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
250.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(23.326) |
|
|
NETWORTH |
|
|
226.674 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.196 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
226.870 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
56.925 |
|
|
Capital work-in-progress |
|
|
46.094 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.872 |
|
|
Sundry Debtors |
|
|
0.000 |
|
|
Cash & Bank Balances |
|
|
201.835 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
14.710 |
|
Total
Current Assets |
|
|
217.417 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
91.469 |
|
|
Other Current Liabilities |
|
|
2.097 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
93.566 |
|
|
Net Current Assets |
|
|
123.851 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
226.870 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
74.279 |
17.145 |
0.000 |
|
|
|
Finished Goods |
18.618 |
11.223 |
0.000 |
|
|
|
Other Income |
4.710 |
2.469 |
0.002 |
|
|
|
TOTAL |
97.607 |
30.837 |
0.002 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
229.043 (Including
Depreciation) |
133.574 (Including
Depreciation) |
23.132 (Including
Depreciation) |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
(131.436) |
(102.737)
|
(23.130) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(1.010) |
6.692 |
0.196 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
(130.426) |
(109.429) |
(23.326) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
15.452 |
|
|
|
|
|
Reimbursement of Expenses |
1.869 |
0.451 |
|
|
|
TOTAL EARNINGS |
17.321 |
7.296 |
0.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Purchases (Traded goods) |
46.388 |
|
|
|
|
|
Purchases (BOP Parts) |
7.014 |
0.000 |
|
|
|
|
Capital goods |
83.704 |
7.004 |
|
|
|
TOTAL IMPORTS |
137.106 |
25.131 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(28.98) |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
PAT / Total Income |
(%) |
(133.62) |
(354.86) |
(1166300.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(176.95) |
(599.22) |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(36.61) |
(36.42) |
(8.43) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.46) |
(0.47) |
(0.10) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.27 |
2.34 |
2.32 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.12.2011 |
31.12.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
350.000 |
450.000 |
|
Reserves & Surplus |
(132.755) |
(263.182) |
|
Share Application money
pending allotment |
0.000 |
100.000 |
|
Net
worth |
217.245 |
286.818 |
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2011 |
31.12.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
17.145 |
74.279 |
|
|
|
333.240 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2011 |
31.12.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
17.145 |
74.279 |
|
Profit |
(109.429) |
(130.426) |
|
|
(638.26%) |
(175.59%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
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 |
-- |
|
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 |
No |
OPERATIONS
The company has started its manufacturing operations during the year and registered a growth of 333 percent. The company is able to make a niche in the automotive component market in India and getting more and more business.
FUTURE PROSPECT
The Board of Directors foresees better future of the Company in light of growth in the Indian economy and in automobile sector in India. Growth in Indian economy results the growth of income of individuals which leads to increase the demand of automobiles. The Board of Directors taking into consideration of the growth trend in Indian economy see a better and prospective growth in the business and performance of their Company.
Indian auto component industry is robustly driven by the growth in demand for automobiles. The sector has become a lucrative business proposition for global players, majorly owing to two factors. First, needless to say, the demand for automobiles is increasing day by day in the country. India, a market with high potential for the automobiles sector, is expected to witness a three-fold increase in demand for automobiles by 2020. Secondly, all major global auto-makers are establishing their bases here due to highly positive business environment, favorable policies and government support. According to a report by ACMA, the Indian auto component industry would grow at a compounded annual growth rate (CAGR) of 11 per cent through 2011-21. Not only domestic demand, India is poised to scale new heights in terms of exports as well as the report estimates exports would grow at a CAGR of 18.8 per cent through the forecast period.
The outlook of the company appears promising with positive indication for healthy growth both in terms of value and volume. Their customers have chalked out wide range of new products to be introduced in the market with a view to harness higher market share and thus register healthy sales. It is expected that post Europe crisis, the economy will stabilize which in turn will offer conducive environment to the industry for growth and prosperity.
FIXED ASSETS
Tangible Assets
- Plant and equipment
- Furniture and fixtures
- Office equipment
- Computer equipments
- Leasehold improvements
- Plantations
Intangible Assets
- 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.60.28 |
|
|
1 |
Rs.102.77 |
|
Euro |
1 |
Rs.82.12 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
- |
|
--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 |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--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.