MIRA INFORM REPORT
|
Report Date : |
15.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
SHREE EXTRUSIONS LIMITED |
|
|
|
|
Formerly Known
As : |
SHREE EXTRUSIONS PRIVATE
LIMITED |
|
|
|
|
Registered
Office : |
217/218, Phase – 2, GIDC Udyog Nagar, Jamnagar – 361005, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
20.02.1989 |
|
|
|
|
Com. Reg. No.: |
04-011912 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 61.799 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27100GJ1989PLC011912 |
|
|
|
|
IEC No.: |
2489003844 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RKTE00173F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCS0253P |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Brass Wire and Rods. |
|
|
|
|
No. of Employees
: |
400 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
Sick unit |
|
|
|
|
Payment Behaviour : |
Slow and delayed |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
The subject company is declared as a sick unit by board for Industrial
and Financial Reconstruction. The management has register case (Case No. 310/2003) with Board for Industrial
and Financial Reconstruction under section 3 (1) (0) of stick industrial
companies act 1985. The order on which for approval for rehabilitation proposal is
pending. Business is active. Payment terms are slow and delayed. The company can be considered for business dealing on a fully 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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
State-run banks hired nearly
300000 personnel including more than 94000 officers in the last four years, according
to the Indian Banks Association. A study by trade lobby Assocham in September
2013 indicated that banks would need 800000 people in the next six years. It
estimated that state-run lenders alone would hire 50000 people in 2013/14.
The Competition Commission of
India plans to issue final orders within a broad time-frame of one year in
matters where it decides to carry out detailed investigations. The number of
complaints received by the watchdog which keeps tabs on unfair trade practices
in the marketplace.
The government has detected
custom tax evasion totaling around Rs 37920 mn in 14 states until December.
Maharashtra topped the list of Rs 14190 mn followed by Andhra Pradesh at Rs
8140 mn, Gujarat Rs 5240 mn, Karnataka Rs 1670 mn and Tamilnadu Rs 1610 mn.
Connaught Place in New Delhi
slipped four notches to become the world’s eighth most expensive office
locations. London’s West End is the world’s most expensive office market.
There are 4.072 mn number of
high value spenders under the scanner of the income tax department. The income
tax department has information that they have made cash deposits announcing to
Rs 1 mn or more in their savings bank accounts in the current financial year.
It plans to check potential evasion before the closing of the financial year on
March 31.
Estimated pharmaceutical sales
in the country for 2016 is $ 27 bn. It is 14.4 per cent higher than a year ago.
The life sciences and health care industry is up against challenges such as
quality management, says a recent Deloitte report.
The gross non-performing assets
of listed banks rose 35.2 % to Rs 2.43 lakh crore during the first three months
of the financial year. In absolute terms, the 40 listed banks added Rs 3386
crore to their gross NPAs in nine months with the State Bank of India leading
with the State Bank of India leading with an accretion of Rs 16610 crore.
The inflow of smuggled gold
doubled in 2013 following restrictions to curb the supply from official
channels to contain the current account deficit. China surpassed India in the
demand for gold for the first time in 2013 due to liberalization of gold
trading norms by its local governments.
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
|
Name : |
Mr. Rajesh Acharya |
|
Designation : |
Account Manager |
|
Contact No.: |
91-288-2730118 |
LOCATIONS
|
Registered Office/ Factory : |
217/218, Phase – 2, GIDC Udyog Nagar, Jamnagar – 361005, Gujarat,
India |
|
Tel. No.: |
91-288-2730118 / 2730298 |
|
Fax No.: |
91-288-2730583 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
A/2, North View Apartments, Street, |
|
Tel. No.: |
91-79-26300197/ 26300054 |
|
Fax No.: |
91-79-26302231 |
|
E-Mail : |
|
|
Area : |
1320 Sq. Fts |
|
Location : |
Rented |
DIRECTORS
AS ON: 30.09.2013
|
Name : |
Mr. Radheshyam Laluram Kabra |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
A-8, Northview Apartment, Xaviers College Road, Navrangpura,
Ahmedabad–380009, Gujarat, India |
|
Date of Birth/Age : |
15.03.1956 |
|
Qualification : |
B.Com, LLB |
|
Date of Appointment : |
13.09.2001 |
|
PAN No.: |
ABQPK0657C |
|
DIN No.: |
00005997 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
L67120GJ1994PLC023471 |
SHREE METALLOYS
LIMITED |
Director |
31/10/1994 |
31/10/1994 |
20/11/2007 |
Active |
NO |
|
2 |
U27100GJ1989PLC011912 |
SHREE EXTRUSIONS
LIMITED |
Director |
13/09/2001 |
13/09/2001 |
- |
Active |
NO |
|
3 |
U70109GJ1994PTC021815 |
KABRA AGRO FARMS
PRIVATE LIMITED |
Additional
director |
01/10/2010 |
01/10/2010 |
- |
Active |
NO |
|
Name : |
Mr. Ramprasad Motilal Kabra |
|
Designation : |
Director |
|
Address : |
402, Mangal Murti Apartments, NearMotor House, Park Colony, |
|
Date of Birth/Age : |
24.11.1977 |
|
Qualification : |
B.Com, DCA, CPC |
|
Date of Appointment : |
06.02.1998 |
|
DIN No.: |
00006379 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U27100GJ1989PLC011912 |
SHREE EXTRUSIONS
LIMITED |
Director |
06/02/1998 |
06/02/1998 |
- |
Active |
NO |
|
2 |
L67120GJ1994PLC023471 |
SHREE METALLOYS
LIMITED |
Director |
13/11/2007 |
13/11/2007 |
25/03/2010 |
Active |
NO |
|
Name : |
Mr. Dinesh Ramchandra. Lahoti |
|
Designation : |
Managing Director |
|
Address : |
8, Sarela Society. B / H Bank of Barod, Navarangpura,
Ahmedabad–380009, Gujarat, India. |
|
Date of Birth/Age : |
11.10.1957 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
15.06.1994 |
|
DIN No.: |
00007242 |
KEY EXECUTIVES
|
Name : |
Mr. Rajesh Acharya |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Pratik Kabra |
985000 |
|
Girjaben R Kabra |
943000 |
|
Dhwani R Kabra |
814000 |
|
Radheshyam Klabra |
1175400 |
|
Hansaben G. Kabra |
511500 |
|
Laxmiben Kabra |
206000 |
|
Pushpa L Kabra |
175200 |
|
Radheshyam Klabra HUF |
560000 |
|
Avni R Kabra |
100000 |
|
Kapil G Kabra |
100000 |
|
Neha R Kabra |
100000 |
|
Badamben Kabra |
98400 |
|
Ramswaroop Kabra |
58400 |
|
Urmila L Kabra |
3800 |
|
Dinesh Lahoti |
50000 |
|
Nimish Bavishi |
37600 |
|
Rakesh Chhaparwal |
30000 |
|
Mukesh Chhaparwal |
10000 |
|
Jain Devendra |
1000 |
|
Shubhash Shah |
1000 |
|
T.L.Chowdhary |
1000 |
|
Dilkhush Roshanlal |
500 |
|
Mahavir Roshanlal Shah |
500 |
|
Anil Agarwal |
100 |
|
Yasinbhai M MusajI |
120000 |
|
Farooq M. Musaji |
56000 |
|
Liwa General Trading LLC |
41546 |
|
|
|
|
TOTAL |
6179946 |
Equity Share Break up (Percentage of Total Equity)
AS ON: 30.09.2013
|
Category |
Percentage |
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
0.67 |
|
Directors or relatives of directors |
95.16 |
|
Other top fifty shareholders |
4.17 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Brass Wire and Rods. |
GENERAL INFORMATION
|
No. of Employees : |
400 (Approximately) |
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B.H. Vyas and
Company Chartered Accountants |
|
Address : |
Centre Point,
1st Floor, Indira Marg, Jamnagar, India |
|
PAN No.: |
AAUPV5545P |
CAPITAL STRUCTURE
AS ON: 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7000000 |
Equity Shares |
Rs.10/- each |
Rs. 70.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6179946 |
Equity Shares |
Rs.10/- each |
Rs. 61.799
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 |
61.799 |
61.799 |
61.799 |
|
(b) Reserves & Surplus |
(76.465) |
(62.728) |
(62.088) |
|
(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) |
(14.666) |
(0.929) |
(0.289) |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
25.759 |
25.374 |
39.841 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
25.759 |
25.374 |
39.841 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1.231 |
0.000 |
0.000 |
|
(b) Trade payables |
411.340 |
271.612 |
205.110 |
|
(c) Other current liabilities |
2.490 |
1.589 |
1.447 |
|
(d) Short-term provisions |
1.447 |
1.280 |
1.887 |
|
Total
Current Liabilities (4) |
416.508 |
274.481 |
208.444 |
|
|
|
|
|
|
TOTAL |
427.601 |
298.926 |
247.996 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
54.646 |
57.331 |
60.920 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
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 |
0.005 |
0.005 |
0.005 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
5.040 |
4.754 |
4.612 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
59.691 |
62.090 |
65.537 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
223.571 |
84.681 |
38.130 |
|
(c) Trade receivables |
122.234 |
122.871 |
116.103 |
|
(d) Cash and cash equivalents |
13.060 |
9.877 |
11.704 |
|
(e) Short-term loans and
advances |
0.917 |
1.260 |
16.522 |
|
(f) Other current assets |
8.128 |
18.147 |
0.000 |
|
Total
Current Assets |
367.910 |
236.836 |
182.459 |
|
|
|
|
|
|
TOTAL |
427.601 |
298.926 |
247.996 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
846.333 |
923.006 |
982.196 |
|
|
|
Other Income |
1.033 |
2.268 |
3.065 |
|
|
|
TOTAL (A) |
847.366 |
925.274 |
985.261 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
860.630 |
848.997 |
839.548 |
|
|
|
Employees benefits expense |
20.941 |
18.335 |
17.824 |
|
|
|
Other expenses |
96.753 |
110.848 |
119.080 |
|
|
|
Extraordinary items before tax |
0.000 |
(0.394) |
0.000 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(125.839) |
(45.582) |
3.738 |
|
|
|
TOTAL (B) |
852.485 |
932.204 |
980.190 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(5.119) |
(6.930) |
5.071 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2.849 |
2.596 |
0.070 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(7.968) |
(9.526) |
5.001 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5.769 |
5.582 |
5.420 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(13.737) |
(15.108) |
(0.419) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(13.737) |
(15.108) |
(0.419) |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
2.22 |
2.45 |
NA |
|
Expected Sales (2013-2014): Rs. 950.000 Millions
The above information has been parted by Mr. Rajesh Acharya
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(1.62) |
(1.63) |
(0.04) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(1.62) |
(1.64) |
(0.04) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.21) |
(5.05) |
(0.17) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.93) |
(16.26) |
(1.45) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
(1.85) |
(27.31) |
(137.86) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.88 |
0.86 |
0.88 |
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 |
61.799 |
61.799 |
61.799 |
|
Reserves & Surplus |
(62.088) |
(62.728) |
(76.465) |
|
Net
worth |
(0.289) |
(0.929) |
(14.666) |
|
|
|
|
|
|
long-term borrowings |
39.841 |
25.374 |
25.759 |
|
Short term borrowings |
0.000 |
0.000 |
1.231 |
|
Total
borrowings |
39.841 |
25.374 |
26.990 |
|
Debt/Equity
ratio |
(137.858) |
(27.313) |
(1.840) |
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 |
982.196 |
923.006 |
846.333 |
|
|
|
(6.026) |
(8.307) |
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 |
982.196 |
923.006 |
846.333 |
|
Profit |
(0.419) |
(15.108) |
(13.737) |
|
|
(0.04)% |
(1.64)% |
(1.62)% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
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 |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
CASE DETAILS
|
HIGH COURT OF GUJARAT |
|
STAMP NUMBER No. 1212
of 2013 To STAMP NUMBER No. 1231 of 2013 |
|
Status : PENDING |
CCIN No : 001087201301212 |
|
Last Listing Date: |
10/05/2013 |
|
Coram |
ADDITIONAL REGISTRAR ( JUDICIAL) |
|
S.NO. |
Name of the
Petitioner |
Advocate On Record |
|
1 |
STATE OF GUJARAT |
GOVERNMENT PLEADER for: null |
|
S.NO. |
Name of the
Respondant |
Advocate On Record |
|
1 |
SHREE EXTRUSIONS LIMITED |
|
|
|||
|
Presented On |
: 25/04/2013 |
Registered On |
: 25/04/2013 |
|
Bench Category |
: DIVISION BENCH |
District |
: AHMEDABAD |
|
Case Originated
From |
: THROUGH ADVOCATE |
Listed |
: 0 times |
|
Stage Name |
: OFFICE OBJECTION (FILING STAGE) |
||
|
OFFICE OBJECTION |
|
|
Filing Stage |
|
|
Classification |
DB - CIVIL APPLICATION - CODE OF CIVIL PROCEDURE, 1908 - ABATEMENT / SETTING ASIDE ABATEMENT |
|
Act |
SALES TAX ACT, 1969 |
|
COURT PROCEEDINGS |
|
S. No. |
Notified Date |
Court Code |
Board Sr. No. |
Stage |
Action |
Coram |
|
1 |
10/05/2013 |
51 |
- |
OFFICE OBJECTION (FILING STAGE) |
NEXT DATE |
ADDITIONAL REGISTRAR ( JUDICIAL) |
|
Case No. |
Company Name |
Address |
Status |
Date of Last Order |
|
310/2003 |
SHREE EXTRUSIONS LIMITED |
2/A, NORTH VIEW APARTMENTS, STREET, XAVIER CONER NAURAN |
Declared Slick/ DRS Awaited |
04/05/2010 |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
AS ON 31.03.2013 |
AS ON 31.03.2012 |
|
Long term
borrowings |
|
|
|
Rupee term loans from banks |
0.385 |
0.000 |
|
Loans and advances from related parties |
11.120 |
11.120 |
|
|
|
|
|
TOTAL |
11.505 |
11.120 |
Note: No Charges Exist for Company
FIXED ASSETS
- Land
- Plant and Machinery
- Furniture and Fixture
- Office Equipment
- Computers
- Vehicles
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. 61.51 |
|
|
1 |
Rs. 102.21 |
|
Euro |
1 |
Rs. 85.22 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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.