MIRA INFORM REPORT
|
Report Date : |
04.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
SHAPOORJI PALLONJI INFRASTRUCTURE CAPITAL COMPANY LIMITED |
|
|
|
|
Registered
Office : |
70 Nagindad Master Road, Fort, Mumbai – 400023, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
09.06.1997 |
|
|
|
|
Com. Reg. No.: |
11-108596 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 3661.100 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U65990MH1997PLC108596 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCS4370B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
|
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 19000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a 100 percent subsidiary of ‘Shapoorji Pallonji and Company
Limited’. It is a well-established and a reputed company having a fine track
record. There seems sharp dip in the profits of the company during financial
year 2013. However, the company receives better operational and financial
support from its holding company. Trade relations are reported as decent. Business is active. Payment
terms are regular and as per commitment. The company can be considered normal 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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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
The worst is over for India’s economy with gross domestic product likely
to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s
Analytics. Concerns over the rupee and current account deficit are under
control, said the agency. Ratings firm Crisil has forecast 6 % growth for
2014/15 up from the estimated 4.8 % for 2013/14. Total economic growth,
infrastructure bottlenecks and lack of transparency and consistency in foreign
direct investment policies seem to have taken a toll on India’s attractiveness
as an investment destination, says an Ernst & Young survey. Projects
with FDI component fell 16.4 % across the globe in 2012 from the previous
year. The drop in India was steeper at 21 %. State run carrier Air India
is doling out free tickets to its 24000 employees, even as it expects to incur
a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn.
550000 number of jobs generated across India in 2013, a fall of 0.4 % as
compared to with a year earlier. The National Capital Region has a
one-fourth share in total jobs created, according to a study by industry lobby
group Assochem, Banks, real estate, automobile and telecommunications sectors
are showing a rise of job creation. $ 805 mn investments by venture capital
firms in India during 2013, registering a drop of about 18 % over the previous
year. The Information Technology and IT-Enabled Services Industry
retained its status as the favourable venture capital investors in 2013.
Pakistan has temporarily banned gold imports for the second time in six months,
as it tries to stem smuggling into India. India’s import duty on gold is 10 %
and curbs on purchases have dried up legal imports into what used to be the
world’s biggest bullion buyers. The World Gold Council puts the amount smuggled
into India at upto 200 tonnes in 2013. The Reserve Bank of India has proposed
that unclaimed bank deposits estimated to be about Rs 35000 mn be used for
education and awareness among depositors. According to the plan, deposits
that have not been claimed for at least 10 years will be transferred to the scheme.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
NCDs (Non-convertible Debenture): AA+ |
|
Rating Explanation |
High degree of safety it carry very low credit risk. |
|
Date |
July 2013 |
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 – COOPERATIVE (91-22-67490000)
LOCATIONS
|
Registered Office : |
70, Nagindad Master
Road, Fort, Mumbai – 400023, Maharashtra, India |
|
Tel. No.: |
91-22-67490466 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website: |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Shapoor Pallonji Mistry |
|
Designation : |
Director |
|
Address : |
Sterling Bay, 103 Walkeshwar Road, Mumbai – 400006, Maharashtra, India
|
|
Date of Birth/Age : |
06.09.1964 |
|
Qualification : |
BE |
|
Date of Appointment : |
06.11.1997 |
|
DIN No.: |
00010114 |
|
|
|
|
Name : |
Mr. Mukundan Srinivasan |
|
Designation : |
Managing Director |
|
Address : |
B-1404, A and B, Florentine, Co-Operative Housing Society, Hiranandnani Gardens, Powai, Mumbai –
400076, Maharashtra, India |
|
Date of Birth/Age : |
29.10.1956 |
|
Qualification : |
BE, MFM |
|
Date of Appointment : |
12.06.2009 |
|
DIN No.: |
00276429 |
|
PAN No.: |
ABWPS5118A |
|
|
|
|
Name : |
Mr. Mohan Salamatrai Hingorani |
|
Designation : |
Director |
|
Address : |
601, Ram Laxmi Niwas, 16th Road, Plot 527A, Khar (West),
Mumbai – 400025, Maharashtra, India |
|
Date of Birth/Age : |
19.06.1937 |
|
Qualification : |
BE |
|
Date of Appointment : |
28.03.2007 |
|
DIN No.: |
00021284 |
|
|
|
|
Name : |
Mr. Mohan Dass Saini |
|
Designation : |
Additional Director |
|
Address : |
502, Crescent Height, Off Forjet, St, Opposite Bhatia Hospital,
Tardeo, Mumbai – 400034, Maharashtra, India |
|
Date of Birth/Age : |
04.08.1954 |
|
Date of Appointment : |
27.09.2012 |
|
DIN No.: |
05260237 |
|
|
|
|
Name : |
Mr. Jai Laxmikant Mavani |
|
Designation : |
Additional Director |
|
Address : |
G-401, Royal Classic, Next to Fame Adlabs, New Link Road, Andheri
(West), Mumbai – 400058, Maharashtra, India |
|
Date of Birth/Age : |
04.09.1971 |
|
Date of Appointment : |
27.09.2012 |
|
DIN No.: |
05260191 |
|
|
|
|
Name : |
Mr. Rajesh Premchand Agarwal |
|
Designation : |
Additional Director |
|
Address : |
2402, Lodha Grandeur Building, Opposite Parel Station Depot, Mumbai –
400025, Maharashtra, India |
|
Date of Birth/Age : |
07.12.1969 |
|
Date of Appointment : |
27.09.2012 |
|
DIN No.: |
01176688 |
|
|
|
|
Name : |
Mr. Umesh Narain Khanna |
|
Designation : |
Additional Director |
|
Address : |
A-67, Takshila Apartments, 57 IP Extension, Delhi – 110092, India |
|
Date of Birth/Age : |
08.07.1957 |
|
Date of Appointment : |
27.09.2012 |
|
DIN No.: |
03634361 |
|
|
|
|
Name : |
Mr. Rajeev Aggarwal |
|
Designation : |
Additional Director |
|
Address : |
S-52, South Anarkali, Krishna Nagar, Delhi – 110051, India |
|
Date of Birth/Age : |
30.06.1965 |
|
Date of Appointment : |
27.09.2012 |
|
DIN No.: |
02907716 |
|
PAN No.: |
AAGPA0199Q |
|
|
|
|
Name : |
Mr. Kuppuswamy Subramania Iyer |
|
Designation : |
Director |
|
Address : |
52, Praneet 234, J. Palkar Road, Worli, Mumbai – 400025, Maharashtra,
India |
|
Date of Birth/Age : |
17.09.1950 |
|
Qualification : |
MBA |
|
Date of Appointment : |
28.03.2007 |
|
DIN No.: |
00058836 |
KEY EXECUTIVES
|
Name : |
Mr. Yashesh Pankaj Bhatt |
|
Designation : |
Secretary |
|
Address : |
403, Tirupati Appartments, Akurli Cross Road, Kandivali (East), Mumbai
– 400101, Maharashtra, India |
|
Date of Birth/Age : |
29.07.1982 |
|
Date of Appointment : |
01.10.2010 |
|
PAN No.: |
AFLPB5264R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Shapoorji Pallonji and Company Limited, India |
|
366109940 |
|
Mukundan Srinvasan Jointly with Shapoorji Pallonji and Company Limited, India |
|
10 |
|
Mahesh Tahilyani jointly with Shapoorji Pallonji and Company Limited, India |
|
10 |
|
F.K. Bhathena jointly with Shapoorji Pallonji and Company Limited, India |
|
10 |
|
Jimmy Jehnagir Parakh jointly with Shapoorji Pallonji and Company Limited, India |
|
10 |
|
Roshen M. Nentin jointly with Shapoorji Pallonji and Company Limited, India |
|
10 |
|
Adil Khambata jointly with Shapoorji Pallonji and Company Limited, India |
|
10 |
|
Total |
|
366110000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
The Jammu and Kashmir Bank Limited, Corporate Headquarters- Maulana Azad Road, Kashmir, Branch - 79, Mehta House, MS Marg, Fort, Mumbai - 400001, Maharashtra, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Kalyaniwalla and Mistry Chartered Accountant |
|
Address : |
Kalpatru Heritage,127 Mahatma Gandhi Road, Mumbai – 400001, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFK7554R |
|
|
|
|
Holding company: |
Shapoorji Pallonji and Company Limited, India [U45200MH1943PLC003812] |
|
|
|
|
Subsidiary
Companies: |
[U45209MH1987PTC043785]
[U40100GJ2008PTC054923]
[U26941GJ2008PTC054061]
[U45201GJ2008PTC054063]
[U45203MH2010PTC202625]
[U45400DL2010PTC204746]
[U40300MH2010PTC202812]
[U40109TN1995PTC033944]
[U10100MH2008PTC184554]
2013, India [U45209GJ2008PTC054828] |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
400270000 |
Equity Shares |
Rs.10/- each |
Rs. 4002.700 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
366110000 |
Equity Shares |
Rs.10/- each |
Rs. 3661.100
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
3661.100 |
3661.100 |
3133.100 |
|
(b) Reserves & Surplus |
1136.720 |
1128.174 |
(81.420) |
|
(c) Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
4797.820 |
4789.274 |
3051.680 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1250.000 |
0.000 |
480.000 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
3.318 |
3.214 |
0.000 |
|
Total
Non-current Liabilities (3) |
1253.318 |
3.214 |
480.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
900.000 |
0.000 |
23.500 |
|
(b) Trade payables |
35.870 |
7.593 |
0.000 |
|
(c) Other current liabilities |
66.844 |
503.059 |
3.639 |
|
(d) Short-term provisions |
21.542 |
0.025 |
0.000 |
|
Total
Current Liabilities (4) |
1024.256 |
510.677 |
27.139 |
|
|
|
|
|
|
TOTAL |
7075.394 |
5303.165 |
3558.819 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
4.162 |
5.194 |
3.700 |
|
(ii) Intangible Assets |
0.118 |
0.197 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
4280.242 |
4491.327 |
1300.891 |
|
(c) Deferred tax assets (net) |
5.632 |
25.000 |
(0.053) |
|
(d) Long-term Loan and Advances |
1035.465 |
29.122 |
0.052 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
5325.619 |
4550.840 |
1304.590 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
449.567 |
0.000 |
0.000 |
|
(b) Inventories |
115.007 |
96.190 |
0.000 |
|
(c) Trade receivables |
7.376 |
224.754 |
0.000 |
|
(d) Cash and cash equivalents |
65.351 |
297.753 |
1.822 |
|
(e) Short-term loans and
advances |
1028.894 |
86.191 |
2252.407 |
|
(f) Other current assets |
83.580 |
47.437 |
0.000 |
|
Total
Current Assets |
1749.775 |
752.325 |
2254.229 |
|
|
|
|
|
|
TOTAL |
7075.394 |
5303.165 |
3558.819 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
348.206 |
333.646 |
0.000 |
|
|
|
Other Income |
78.400 |
46.537 |
10.049 |
|
|
|
TOTAL (A) |
426.606 |
380.183 |
10.049 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee benefit expense |
82.453 |
51.245 |
12.526 |
|
|
|
Other expenses |
215.927 |
147.624 |
29.468 |
|
|
|
TOTAL (B) |
298.380 |
198.869 |
41.994 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
128.226 |
181.314 |
(31.945) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
85.193 |
70.359 |
65.547 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
43.033 |
110.955 |
(97.492) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.650 |
1.885 |
0.316 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
41.383 |
109.070 |
(97.808) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
11.421 |
22.509 |
0.098 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
29.962 |
86.561 |
(97.906) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(29.734) |
(116.295) |
(18.389) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
(29.734) |
(116.295) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Service materials and components |
NA |
11.518 |
0.000 |
|
|
TOTAL IMPORTS |
NA |
11.518 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.07 |
0.24 |
(0.31) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
7.02
|
22.77 |
(974.29) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
11.88
|
32.69 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.48
|
13.86 |
(4.33) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01
|
0.02 |
(0.03) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.45
|
0.00 |
0.16 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.36
|
0.16 |
0.74 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
3,133.100 |
3,661.100 |
3,661.100 |
|
Reserves & Surplus |
(81.420) |
1,128.174 |
1,136.720 |
|
Net
worth |
3,051.680 |
4,789.274 |
4,797.820 |
|
|
|
|
|
|
long-term borrowings |
480.000 |
0.000 |
1,250.000 |
|
Short term borrowings |
23.500 |
0.000 |
900.000 |
|
Total
borrowings |
503.500 |
0.000 |
2,150.000 |
|
Debt/Equity
ratio |
0.165 |
0.000 |
0.448 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
0.000 |
333.646 |
348.206 |
|
|
|
4.364 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
0.000 |
333.646 |
348.206 |
|
Profit |
(97.906) |
86.561 |
29.962 |
|
|
25.94% |
8.60% |
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 |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
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 |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
OPERATIONAL REVIEW:
The Company has established various infrastructure projects under various sectors like roads, power and port. The Company has incorporated various Special Purpose Vehicles (SPV) for the same.
SCHEME OF
AMALGAMATION:
In May, 2013, the Directors, subject to securing necessary approvals, decided to acquire, through a Scheme of Arrangement for Demerger business of Universal Mine Developers and Service Providers Private Limited (Universal) pursuant to the provisions of Sections 391 to 394 of the Companies Act, 1956. The Scheme was thereafter approved by the shareholders and creditors of the Company and also of Universal. The successful implementation of the Scheme will enhance shareholder value. The sanction of the Hon’ble High Court at Mumbai is pending.
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10423517 |
19/03/2013 |
1,250,000,000.00 |
THE JAMMU AND KASHMIR BANK LIMITED |
CORPORATE HEADQUARTERS-
MAULANA AZAD ROAD, KASHMIR, BRANCH - 79, MEHTA HOUSE, MS MARG, FORT, MUMBAI,
MAHARASHTRA - 400001, INDIA |
B74341827 |
FIXED ASSETS
Tangible assets
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
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] 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.61.86 |
|
|
1 |
Rs.103.52 |
|
Euro |
1 |
Rs.85.31 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
54 |
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.