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Report Date : |
10.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
FENGSHUI ISPAT PRIVATE
LIMITED |
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Registered
Office : |
RD-100, Palashdiha,
Durgapur – 713 208, West Bengal |
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Country : |
India |
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Date of
Incorporation : |
18.12.2013 |
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Com. Reg. No.: |
21-199125 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100 million |
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CIN No.: [Company Identification
No.] |
U27310WB2013PTC199125 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Pig Iron and Sponge Iron. |
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No. of Employees
: |
70 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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- |
NB |
New Business |
- |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a new company and establishing itself gradually. Mr. Debasish Jha (Director) provided with us all information. The company expects a decent turnover from its first year of
operation. Trade relations are reported to be improving. Business is active.
Payment terms are reported to be slow. The company can be considered for business dealings on a safe and
secured trade terms and condition. |
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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
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
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Name : |
Mr. Debasish Pasupati Jha |
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Designation : |
Director |
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Contact No.: |
91-9934392165 |
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Date : |
07.03.2014 |
LOCATIONS
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Registered Office : |
RD-100, Palashdiha,
Durgapur – 713 208, West Bengal, India |
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Tel. No.: |
91-343-6551003/ 6831003 |
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Mobile No.: |
91-9800461047/ 9934392165 (Mr. Debasish Pasupati Jha) |
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Fax No.: |
91-343-6831003 |
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E-Mail : |
General Info: fescosteel@gmail.com Production and
Operations: production@fescosteel.com Sales and Export
Orders: sales@fescosteel.com Corporate Affairs:
corporate@fescosteel.com Jobs: career@fescosteel.com Customer Care and
Support: support@fescosteel.com |
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Website : |
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Location : |
Owned |
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Factory : |
Rangdih, Govindpur, Dhanbad – 828 109, Jharkhand, India |
DIRECTORS
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Name : |
Mrs. Madhabi Maitra |
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Designation : |
Director |
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Address : |
RD-100, Palasdiha Durgapur, Durgapur – 713 208, West Bengal,
India |
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Date of Birth/Age : |
31.12.1975 |
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Date of Appointment : |
18.12.2013 |
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DIN No.: |
06739171 |
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Voter identity card number : |
LJK2415788 |
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E-Mail : |
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Other Directorship:
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Name : |
Mr. Migel Lopes |
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Designation : |
Director |
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Address : |
Kommunarovskaya Street, 11, APP.242, Dnipropetrovsk City,
Dnipropetrovsk 49128 |
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Date of Birth/Age : |
18.08.1978 |
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Date of Appointment : |
18.12.2013 |
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DIN No.: |
06745048 |
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Name : |
Mrs. Olena Ivanova |
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Designation : |
Director |
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Address : |
Kommunarovskaya Street, 11, APP.242, Dnipropetrovsk City,
Dnipropetrovsk 49128 |
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Date of Birth/Age : |
06.09.1978 |
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Date of Appointment : |
18.12.2013 |
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DIN No.: |
06748998 |
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Name : |
Mr. Debasish Pasupati Jha |
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Designation : |
Director |
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Address : |
Tapoban Colony and Saradapally, Durgapur – 713 213, West Bengal,
India |
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Date of Birth/Age : |
31.12.1976 |
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Date of Appointment : |
18.12.2013 |
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DIN No.: |
06755421 |
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E-Mail: |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 12.12.2013
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Names of Shareholders |
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No. of Shares |
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Madhabi Maitra |
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8000 |
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Debasish Jha |
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2000 |
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Total
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10000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Pig Iron and Sponge Iron. |
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Products : |
Pig Iron |
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Exports : |
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Products : |
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Countries : |
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Terms : |
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Purchasing : |
Depend |
GENERAL INFORMATION
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No. of Employees : |
70 (Approximately) |
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Bankers : |
State Bank of India, Dhanbad, Jharkhand, India |
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Banking
Relations : |
-- |
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Auditors : |
Yet not appointed |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
NEW COMPANY
Expected Sales (2013-2014): Rs.1350.000 millions
The above information has been parted by Mr. Debasish Pasupati Jha (Director).
LOCAL AGENCY FURTHER INFORMATION
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Check
List by Info Agents |
Available
in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
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2) Locality of the firm |
Yes |
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3) Constitutions of the firm |
Yes |
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4) Premises details |
No |
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5) Type of Business |
Yes |
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6) Line of Business |
Yes |
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7) Promoter’s background |
Yes |
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8) No. of employees |
Yes |
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9) Name of person contacted |
Yes |
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10) Designation of contact person |
Yes |
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11) Turnover of firm for last three years |
No |
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12) Profitability for last three years |
No |
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13) Reasons for variation <> 20% |
-- |
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14) Estimation for coming financial year |
Yes |
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15) Capital in the business |
Yes |
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16) Details of sister concerns |
No |
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17) Major suppliers |
No |
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18) Major customers |
No |
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19) Payments terms |
Yes |
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20) Export / Import details (if applicable) |
Yes |
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21) Market information |
-- |
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22) Litigations that the firm / promoter
involved in |
-- |
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23) Banking Details |
Yes |
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24) Banking facility details |
No |
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25) Conduct of the banking account |
-- |
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26) Buyer visit details |
-- |
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27) Financials, if provided |
No |
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28) Incorporation details, if applicable |
Yes |
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29) Last accounts filed at ROC |
No |
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30) Major Shareholders, if available |
Yes |
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31)
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
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32)
PAN of Proprietor/Partner/Director, if available |
No |
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33)
Voter ID No of Proprietor/Partner/Director, if available |
Yes |
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34)
External Agency Rating, if available |
No |
Note:
No Charges Exist for Company.
WEBSITE DETAILS:
PROFILE:
Subject is a fast growing manufacturer of pig iron and mild steel
billets. It is a subsidiary of the FESCO GROUP. Subject produces basic grade as
well as foundry grade pig iron. Pig iron is manufactured as per IS: 13502/1992.
Billets are manufactured as per IS: 2830/1992 specifications.
Strategically located at Rangdih, Govindpur in the district of Dhanbad in
Jharkhand state, also known as the Coal Capital of India, the plant is located next
to NH-2 which is Grand Trunk Road. NH-2 is one of the busiest National Highways
of India and connects Kolkata to New Delhi, the Capital of India and is a major
arm of the Golden Quadrilateral. The plant is well connected to the major pots
in India. For exportation of the products, easy access to the major ports of
India viz. Haldia, Vizag, JNPT, etc. can be gained due to the strategic
location of the plant. The products are also widely acclaimed by domestic
purchasers. At-a-glance distance chart with National road routes:
Plant to Haldia port: Approx distance is 400 km. NH-2 and NH-6 are the proposed
highways.
Plant to Vizag port: Approx distance is 1000 km. NH-2, NH-6 and NH-5 are
the proposed highways.
Plant to JNPT/Nhava Sheva port: Approx distance is 2000 km. NH-2, NH-6,
NH-3 are the proposed highways.
Products of subject are equivalent to international standards viz. ASTM, BS,
JIS, DIN, GOST, EN, GB, UNI, AISI, etc. Superior quality products, rock bottom
prices and prompt delivery are the strengths of SUBJECT.
Subject is all set to acquire own iron ore mines at Barbil sector in Odisha.
Modernization of another unit located at Giridih, Jharkhand is under way. By
mid 2014 the company will set up a fully integrated steel plant spread over 500
acres of land and the company will start manufacturing all kinds of mild steel
and stainless steel products. By the start of 2015 the company would be
establishing offices overseas at major international cities across the globe.
BOARD OF DIRECTORS
Smt. Madhabi Maitra aged 40 years, is the Managing Director and of
Subject. Under her leadership Subject has emerged a prominent and reputed iron
and steel manufacturing unit. Under her stable helm the company is all geared
to set up a fully integrated steel mill and acquire iron ore mining rights in
Odisha. By 2015 the company will further diversify into manufacturing of
stainless steel products and further diversify into the hospitality and
entertainment sectors as well as educational and real estate businesses. She
has envisions of entering into the retail banking sector by 2020 and enter into
the automotive sector too. Her visionary has propelled the company to great
heights of success and shall further rise to greater heights of achievements.
Shri Migel F. Lopes aged 38 years, is the Exports Director of Subject. A
man of Ukrainian nationality and with in-depth knowledge about the European
market in the iron and steel sector, as also being a qualified Metallurgical
Engineer from Ukraine, he is the best person in the company in the marketing
sector. Right from overseeing the lab department at Dhanbad to exports he is
like a one-man army who can take up multi-tasking with ease. His powers of
analytical reasoning and that he is an European gives Subject an added
advantage to market its products in the EU.
Smt. Olena Ivanova aged 37 years, is the Director of Corporate Affairs
and P.R department of subject. Being a lawyer of Ukrainian nationality she is
the face of the company at press and media conferences. Her straight forward,
warm but firm attitude is highly appreciated by one and all.
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.60.99 |
|
|
1 |
Rs.102.07 |
|
Euro |
1 |
Rs.84.53 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
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|
Report Prepared
by : |
SMN |
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.