MIRA INFORM REPORT
|
Report Date : |
26.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
ERNST AND YOUNG LLP |
|
|
|
|
Formerly Known
As : |
ERNST AND YOUNG PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
22, Camac Street, Block C, 3rd Floor, Kolkata-700016, West
Bengal |
|
|
|
|
Country : |
India |
|
|
|
|
Date of
Incorporation : |
01.04.2013 |
|
|
|
|
Total Obligation
of Contribution: |
Rs.632.302 Millions |
|
|
|
|
LLPIN : |
AAB-4343 |
|
|
|
|
Legal Form : |
Limited Liability Partnership |
|
|
|
|
Line of Business
: |
Providing Professional Services in the areas of consulting and
advisory for tax, risk performance and transactions to large global and
Indian Organizations and Government Sector. |
|
|
|
|
No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (67) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a member company of Ernst and Young Global. It is a well-established company which has being incorporated in India
as on January 15, 2008, and consequently have been converted into a limited
liability partnership concern, effective April 01, 2013 with the current
name. As per previous, we found that the company possesses a comfortable
financial profile marked by a steady growth in operating income and a modest
leverage during FY 2012. The ratings also take into consideration the highly competitive
industry with low entry barriers which may put pressure on the margins and
working capital intensity of operations. However, trade relations are fair. Business is active. Payment terms
are reported as regular and as per commitments. In view of established operations and brand name in the advisory
business, experienced management, the subject 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) |
|
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
AA- [Long Term Bank Facilities] |
|
Rating Explanation |
High degree of safety and very low credit risk. |
|
Date |
26.03.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
A1+ [Short Term Bank Facilities] |
|
Rating Explanation |
Very strong degree of safety and lowest credit risk. |
|
Date |
26.03.2014 |
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 BY
|
Name : |
Mr. Shukla |
|
Designation : |
Accounts Officer |
|
|
|
|
Name : |
Mr. Vikas Mohan |
|
Designation : |
Company Secretary |
|
Contact No.: |
91-124-4575000 |
|
Date : |
20.06.2014 |
LOCATIONS
|
Registered Office : |
22, Camac Street, Block C, 3rd Floor, Kolkata-700016, West
Bengal, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Head Office : |
1st Floor, Tower A, Building No. 5, DLF Cyber City, Phase
II, Sector 25, Gurgaon-122002, Haryana, India |
|
Tel. No.: |
91-124-4575000 |
|
Fax No.: |
91-124-4575200 |
|
|
|
|
Branch Office : |
14th Floor, The Ruby 29, Senapati Bapat Marg, Dadar (West),
Mumbai-400028, Maharashtra, India |
PARTNERS
|
Name : |
Mr. Rajiv Memani |
|
Designation : |
Partner |
|
Address : |
177C Western Avenue, Lane W-7, Sainik Farms, New Delhi-110062, India |
|
|
|
|
Name : |
Mr. Pankaj Dhandharia |
|
Designation : |
Partner |
|
Address : |
B-2201, Lodha Bellissimo, N.M. Joshi Marg, Mahalaxmi, Mumbai-400011,
Maharashtra, India |
|
|
|
|
Name : |
Mr. Hitesh Wadhwani |
|
Designation : |
Partner |
|
Address : |
1705, The Imperial, B B Nakashe Road, Tardeo, Mumbai-400034,
Maharashtra, India |
|
|
|
|
Name : |
Mr. Ajit Krishnan |
|
Designation : |
Partner |
|
Address : |
E-152, Richmond Park, DLF Phase IV, Gurgaon, Haryana, India |
|
|
|
|
Name : |
Mr. Amit Khandelwal |
|
Designation : |
Partner |
|
Address : |
B-105, Sector 50, Noida-201307, Uttar Pradesh, India |
NOTE:
OTHER PARTNERS NAMES FILE ATTACHED.
KEY EXECUTIVES
|
Name : |
Mr. Shukla |
|
Designation : |
Accounts Officer |
|
|
|
|
Name : |
Mr. Vikas Mohan |
|
Designation : |
Company Secretary |
BUSINESS DETAILS
|
Line of Business : |
Providing Professional Services in the areas of consulting and
advisory for tax, risk performance and transactions to large global and
Indian Organizations and Government Sector. |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management. |
|
|
|
|
Bankers : |
Standard Chartered Bank, Credit Documentation Unit, Narain Manzil, 23,
Barakhamba Road, New Delhi-110001, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
Not Available |
CAPITAL STRUCTURE
Total Obligation of Contribution: Rs.632.302 Millions.
FINANCIAL DATA
[all figures are
in Rupees Millions]
NOTE:
FINANCIAL DATA FOR
LLP IS FORTHCOMING.
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 |
No |
|
12] |
Profitability for last three years |
No |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
No |
|
16] |
Details of sister concerns |
No |
|
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 |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
No |
|
28] |
Incorporation details, if applicable |
No |
|
29] |
Last accounts filed at ROC |
No |
|
30] |
Major Shareholders, if available |
No |
|
31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth 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 |
PRESS RELEASE:
ERNST AND YOUNG ENTERS INTO ALLIANCE AGREEMENT WITH PEGASYSTEMS
CAMBRIDGE, Mass. – May 12, 2014 - Pegasystems Inc. (NASDAQ: PEGA), the software company powering the digital enterprise with Better Business Software™, today announced that it has signed an alliance agreement with Ernst and Young LLP that expands their existing relationship and helps accelerate collaborative efforts in North America. As a Gold level Pega partner, EY will be strategically positioned to serve common customers in the banking, financial services and insurance industries.
“Major financial services organizations are facing significant business, regulatory and operational challenges. As enterprises become increasingly digital, the need to unite customer engagement with core business processes will become critical,” said Hank Prybylski, Americas Financial Services Advisory leader and Global Financial Services Risk Management leader at Ernst and Young LLP. “With Pega, the ability for our business and technology consulting professionals to rapidly deliver enterprise solutions means a clear advantage for our customers.”
“EY understands complex business challenges and works with their clients to provide innovative ideas that deliver transformational results,” says John Barone, Vice President of Global Alliances at Pegasystems. “EY’s commitment to customer success and Pega’s Build for Change technology approach to transforming digital enterprises are a great combination for our clients. We are very excited to be expanding our relationship with EY.”
EY and Pegasystems will now offer full end-to-end, global technology solutions, from upfront consulting through deployment and ongoing services. These solutions provide clients with the ability to meet today’s challenges for digital enterprises.
ERNST and YOUNG LLP ADVISORY
SERVICES RECOGNIZED AS 2013 CRM WATCHLIST WINNER
NEW YORK, 29 MARCH 2013
Ernst and Young LLP announced today that its Advisory Services practice has been named to the annual CRM Watchlist 2013, a prestigious list of leading companies developed by customer strategy consultant, Paul Greenberg. Now in its fifth year, the CRM Watchlist 2013 ranks companies according to their impact on the customer facing business world. Selected from among the hundreds of submissions for this year’s Watchlist, the firm’s Advisory Services was one of three winners in the consulting and system integrators category.
“What impresses me about EY Advisory that makes me think that 2013 is the beginning of their true global breakout is that they have done so much right,” said Greenberg in his CRM Watchlist review of EY, available at zdnet.com. “I am genuinely amazed at their intelligence, their scope, their well-articulated programmatic approach, and their intelligent set of customer-facing, contemporary business models and frameworks. They have an impressive body of results and a significant group of referenceable customers which tells me that their customers must regard them highly.”
In selecting Ernst and Young LLP’s Advisory Services practice Greenberg highlighted the company’s powerful management team, its ability to identify contemporary trends and translate them into business value, its understanding of the rise of agencies in the contemporary services world, and its impressive quality of execution.
“Being named to the CRM Watchlist is a tremendous honor and we are very proud to be recognized as a leader in this category,” said Woody Driggs, Global Advisory Customer Leader for the EY organization. “In the midst of rapid change driven by economic turbulence, digital technology, and shifting consumer behaviors, Ernst and Young LLP’s Advisory Services has been pursuing an aggressive growth strategy that is built on understanding, anticipating and acting upon the various forces affecting its clients and their businesses. This recognition from Paul Greenberg is a testament to its focus on providing relevant and timely counsel and the ability to deliver quality results for our clients.”
Paul Greenberg is President of The 56 Group, LLC, a customer strategy consulting firm and author of CRM at the Speed of Light: Social CRM Strategies, Tools, and Techniques for Engaging Your Customers, which is used by more than 70 universities as a primary text.
For more information and to read the full review, please visit:http://www.zdnet.com/crm-watchlist-2013-winners-consulting-and-systems-integrators-hook-up-part-1-7000013030/
ABOUT EY'S ADVISORY SERVICES
The relationship between risk and performance improvement is an increasingly
complex and central business challenge, with business performance directly
connected to the recognition and effective management of risk. Whether your
focus is on business transformation or sustaining achievement, having the right
advisors on your side can make all the difference. Our 27,000 advisory
professionals form one of the broadest global advisory networks of any
professional organization, delivering seasoned multidisciplinary teams that
work with our clients to deliver a powerful and superior client experience. We
use proven, integrated methodologies to help you achieve your strategic
priorities and make improvements that are sustainable for the longer term. We
understand that, to achieve your potential as an organization, you require
services that respond to your specific issues, so we bring our broad sector
experience and deep subject matter knowledge to bear in a proactive and
objective way. Above all, we are committed to measuring the gains and
identifying where the strategy is delivering the value your business needs.
It’s how EY makes a difference.
ABOUT EY
EY is a global leader in assurance, tax, transaction and advisory services. Worldwide,
our 167,000 people are united by our shared values and an unwavering commitment
to quality. We make a difference by helping our people, our clients and our
wider communities achieve their potential.
EY refers to the global organization of member firms of Ernst and Young Global Limited, each of which is a separate legal entity. Ernst and Young Global Limited, a UK company limited by guarantee, does not provide services to clients.
ERNST AND YOUNG
PRIVATE LIMITED [ERSTWHILE]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
6.489 |
6.489 |
|
(b) Reserves &
Surplus |
|
706.781 |
622.585 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
|
713.270 |
629.074 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
773.590 |
632.773 |
|
(b) Deferred tax
liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
142.122 |
81.609 |
|
(d) long-term provisions |
|
84.812 |
47.231 |
|
Total Non-current
Liabilities (3) |
|
1000.524 |
761.613 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
0.000 |
|
(b) Trade payables |
|
4005.235 |
2981.625 |
|
(c) Other current
liabilities |
|
578.970 |
563.663 |
|
(d) Short-term provisions |
|
399.548 |
154.505 |
|
Total Current Liabilities
(4) |
|
4983.753 |
3699.793 |
|
|
|
|
|
|
TOTAL |
|
6697.547 |
5090.480 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
758.722 |
501.708 |
|
(ii) Intangible Assets |
|
0.355 |
0.488 |
|
(iii) Capital
work-in-progress |
|
3.159 |
50.240 |
|
(iv) Intangible assets
under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
57.575 |
52.255 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
169.106 |
125.468 |
|
(e) Other Non-current
assets |
|
7.857 |
5.757 |
|
Total Non-Current Assets |
|
996.774 |
735.916 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
0.000 |
0.000 |
|
(c) Trade receivables |
|
3620.874 |
2326.249 |
|
(d) Cash and cash
equivalents |
|
608.257 |
634.806 |
|
(e) Short-term loans and
advances |
|
1471.642 |
1393.509 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total Current Assets |
|
5700.773 |
4354.564 |
|
|
|
|
|
|
TOTAL |
|
6697.547 |
5090.480 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
6.489 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
802.198 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
808.687 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
605.902 |
|
|
TOTAL BORROWING |
|
|
605.902 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1414.589 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
476.300 |
|
|
Capital work-in-progress |
|
|
0.371 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
52.054 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
2150.306 |
|
|
Cash & Bank Balances |
|
|
451.222 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
1369.911 |
|
Total
Current Assets |
|
|
3971.439 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
0.000 |
|
|
Other Current Liabilities |
|
|
2882.248 |
|
|
Provisions |
|
|
203.328 |
|
Total
Current Liabilities |
|
|
3085.576 |
|
|
Net Current Assets |
|
|
885.864 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1414.589 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
17716.090 |
13112.900 |
10171.396 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
17549.330 |
13244.908 |
9936.071 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
166.760 |
(132.008) |
235.325 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
82.564 |
47.605 |
81.496 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
84.196 |
(179.613) |
153.829 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Professional Fees |
9391.725 |
6459.519 |
4839.833 |
|
|
TOTAL EARNINGS |
9391.725 |
6459.519 |
4839.833 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Data
Processing and Networking Equipments |
132.532 |
75.995 |
44.840 |
|
|
|
Computer
Consumables |
2.732 |
0.000 |
0.105 |
|
|
|
Furniture
and Fixtures and Other Equipments |
11.204 |
78.099 |
46.795 |
|
|
TOTAL IMPORTS |
146.468 |
154.094 |
91.740 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
129.75 |
(276.79) |
237.06 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.48 |
(1.37) |
1.51 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.51
|
(2.64) |
5.29 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23
|
(0.21) |
0.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.08
|
1.00 |
0.75 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.14
|
1.17 |
1.29 |
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.60.27 |
|
|
1 |
Rs.102.28 |
|
Euro |
1 |
Rs.82.05 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
|
67 |
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.