MIRA
INFORM REPORT
|
Report Date : |
19.03.2014 |
Note: Given address could not be confirmed.
IDENTIFICATION DETAILS
|
Name : |
ITM EDUTECH (INDIA) LIMITED (w.e.f. 31.03.2008) |
|
|
|
|
Formerly Known
As : |
ITM INFOTECH (INDIA) LIMITED |
|
|
|
|
Registered
Office : |
713, BSEL Tech Park, Opposite Vashi Railway Station, Navi
Mumbai – 400705, Maharashtra |
|
|
|
|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
07.07.2000 |
|
|
|
|
Com. Reg. No.: |
11-127619 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.676.634 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72900MH2000PLC127619 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACI8031J |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
Line of Business
: |
The Company is primarily engaged in undertaking, carrying
out and providing services in various fields of education and to provide
training facilities, necessary infrastructure and equipment for developing
the requisite skills required in performing educational services. |
|
|
|
|
No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 2520000 |
|
|
|
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having a moderate track record. There are loss recorded by the company during 2013. However, trade relations are fair. Business is active. Payment are reported
to be slow but correct. The company can be considered for business dealing with some
cautions. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 DENIED BY
|
Name : |
Ms. Sheshu |
|
Designation : |
Finance Head |
|
Contact No.: |
91-22-61294000 |
|
Date : |
15.03.2014 |
LOCATIONS
|
Registered Office : |
713, BSEL Tech Park, Opposite Vashi Railway Station, Navi
Mumbai – 400705, Maharashtra, India |
|
Tel. No.: |
91-22-61294000 |
|
Fax No.: |
91-22-27814752 |
|
E-Mail : |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Ramana Venkata Putcha |
|
Designation : |
Director |
|
Address : |
Bungalow No. 12, Gulab View, Dr. C. Gidwani Road, Chembur-400074, Maharashtra,
India |
|
Date of Birth/Age : |
13.12.1940 |
|
Date of Appointment : |
07.07.2000 |
|
PAN No.: |
AKHPP9001F |
|
DIN No.: |
00019092 |
|
|
|
|
Name : |
Mr. Putcha Lalitha Ramana |
|
Designation : |
Director |
|
Address : |
Bungalow No. 12, Gulab View, Dr. C. Gidwani Road, Chembur-400074, Maharashtra,
India |
|
Date of Birth/Age : |
12.06.1947 |
|
Date of Appointment : |
07.07.2000 |
|
DIN No.: |
01812460 |
|
|
|
|
Name : |
Mr. Ashish Agrawal |
|
Designation : |
Director |
|
Address : |
601, Padma Prabhuapts, 1174/1175 Veer Savarkar Marg, Dadar West,
Mumbai - 400028, Maharashtra, India |
|
Date of Birth/Age : |
21.06.1977 |
|
Date of Appointment : |
15.04.2009 |
|
DIN No.: |
02421421 |
|
|
|
|
Name : |
Mr. Aditya Arora |
|
Designation : |
Director |
|
Address : |
H. No-CP 103, Pitam Pura, Delhi-110088, India |
|
Date of Birth/Age : |
25.03.1986 |
|
Date of Appointment : |
28.08.2012 |
|
DIN No.: |
03528624 |
|
|
|
|
Name : |
Mr. Akhil Jain |
|
Designation : |
Director |
|
Address : |
C-1,401, Purvi Apartment, Sundervan Comp., Andheri (West), Mumbai - 400053,
Maharashtra, India |
|
Date of Birth/Age : |
01.09.1980 |
|
Date of Appointment : |
17.04.2011 |
|
DIN No.: |
05343247 |
MAJOR SHAREHOLDERS
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Ramana Putcha |
|
20 |
|
Lalitha Putcha |
|
20 |
|
Jaywant Shelar |
|
20 |
|
Vikas Waigankar |
|
20 |
|
P.K.Ravi |
|
20 |
|
Kanaka Ravi |
|
20 |
|
Nitin Puthcha |
|
20 |
|
ITM Management Pte Limited, Singapore |
|
155376286 |
|
Total |
|
155376426 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
99.99 |
|
Directors or relatives of Directors |
0.01 |
|
Total |
100.00 |
%20LIMITED%20-%20258891_MIRA%2019-Mar-2014_files/image002.gif)
BUSINESS DETAILS
|
Line of Business : |
The Company is primarily engaged in undertaking, carrying
out and providing services in various fields of education and to provide
training facilities, necessary infrastructure and equipment for developing
the requisite skills required in performing educational services. |
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Products : |
|
GENERAL INFORMATION
|
rNo. of Employees : |
Information denied by management |
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Bankers : |
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Facilities : |
Long Term
Borrowings *Term Loan is
secured by hypothecation of book debts and first charge on fixed assets of
the Company, Corporate guarantee of ITM Company and ITM Management PTE,
Personal Gurantee by Dr P.V Ramana and is carrying an interest @13.25%p.a. Short Term Borrowings * Buyers credit
facility is secured by first charge on moveable fixed assets of the Company,
Corporate guarantee of ITM Management PTE, Personal Gurantee by Dr P.V Ramana
and Mrs. P. Lalitha Ramana which is carrying interest at applicable LIBOR
plus margin (ranging from 190-210 basis points) and is repayable in six
months from draw down date. ** Overdraft
facility from ICICI Bank and Yes Bank carrying an interest @ 15% and 15.5%
respectively is guaranteed by ITM Company and ITM Management PTE , personal
gurantee given by Dr P.V Ramana and Mrs Lalitha Ramana and is repayable on
demand |
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Banking
Relations : |
-- |
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|
Auditors : |
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|
Name : |
B S R and Company Chartered Accountants |
|
Address : |
Lodha Excelus, 1st Floor, Apollo Mills Compound, N M Joshi Marg, Mahalakshmi, Mumbai – 400011, Maharashtra, India |
|
PAN No.: |
AAIFB7357B |
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|
Holding Company
: |
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|
Subsidiary
company |
CIN No.: U80904MH2012PTC228543 |
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|
Fellow
Subsidiary Company : |
U99999MH1992NPL068707 |
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Enterprises over
which individuals owning voting power have significant Influence : |
CIN No.: U70101AP2007PTC053999 |
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|
|
|
Enterprises over
which relative of individual owning voting power have significant
influence : |
CIN No.: U22212MH2009PTC191428 |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000000 |
Equity Shares |
Rs.5/- each |
Rs.1000.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
155376426 |
Equity Shares |
Rs.5/- each |
Rs.776.882 Millions |
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000000 |
Equity Shares |
Rs.5/- each |
Rs.1000.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
135326755 |
Equity Shares |
Rs.5/- each |
Rs.676.634 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 |
676.634 |
676.634 |
519.764 |
|
(b) Reserves & Surplus |
(47.504) |
(8.752) |
(10.311) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
156.869 |
|
Total
Shareholders’ Funds (1) + (2) |
629.130 |
667.882 |
666.322 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
60.644 |
37.930 |
0.000 |
|
(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 |
2.530 |
2.050 |
0.000 |
|
Total Non-current
Liabilities (3) |
63.174 |
39.980 |
0.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
380.870 |
14.482 |
0.860 |
|
(b) Trade
payables |
56.244 |
31.744 |
0.183 |
|
(c) Other
current liabilities |
176.399 |
111.637 |
0.069 |
|
(d) Short-term
provisions |
0.077 |
4.122 |
0.000 |
|
Total Current
Liabilities (4) |
613.590 |
161.985 |
1.112 |
|
|
|
|
|
|
TOTAL |
1305.894 |
869.847 |
667.434 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
64.442 |
9.664 |
0.000 |
|
(ii)
Intangible Assets |
8.173 |
6.273 |
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 |
419.923 |
418.023 |
403.623 |
|
(c) Deferred tax assets (net) |
0.000 |
2.729 |
0.000 |
|
(d) Long-term Loan and Advances |
522.861 |
306.795 |
262.968 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1015.399 |
743.484 |
666.591 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
159.655 |
83.828 |
0.342 |
|
(d) Cash
and cash equivalents |
10.387 |
34.950 |
0.501 |
|
(e)
Short-term loans and advances |
120.397 |
7.526 |
0.000 |
|
(f) Other
current assets |
0.056 |
0.059 |
0.000 |
|
Total
Current Assets |
290.495 |
126.363 |
0.843 |
|
|
|
|
|
|
TOTAL |
1305.894 |
869.847 |
667.434 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
284.562 |
143.189 |
0.200 |
|
|
|
|
Other Income |
2.488 |
0.635 |
0.000 |
|
|
|
|
TOTAL (A) |
287.050 |
143.824 |
0.200 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Employee Benefits Expenses |
56.765 |
26.236 |
0.000 |
|
|
|
|
Other Expenses |
223.600 |
106.064 |
4.311 |
|
|
|
|
TOTAL (B) |
280.365 |
132.300 |
4.311 |
|
|
|
|
|
|
|
||
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
6.685 |
11.524 |
(4.111) |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
15.779 |
1.598 |
0.000 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
(9.094) |
9.926 |
(4.111) |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
17.209 |
7.195 |
0.000 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
(26.303) |
2.731 |
(4.111) |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
12.450 |
1.171 |
0.000 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
(38.753) |
1.560 |
(4.111) |
||
|
|
|
|
|
|
||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(8.751) |
(10.311) |
(6.200) |
||
|
|
|
|
|
|
||
|
|
BALANCE CARRIED
TO THE B/S |
(47.504) |
(8.751) |
(10.311) |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Capital Goods |
15.140 |
13.341 |
0.000 |
|
|
|
TOTAL IMPORTS |
15.140 |
13.341 |
0.000 |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
(0.29) |
0.01 |
(0.04) |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total
Income |
(%) |
(13.50) |
1.08 |
(2055.50) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(9.24) |
1.91 |
(2055.50) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(2.97) |
0.61 |
(1.56) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.04) |
0.00 |
(0.01) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.70 |
0.08 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.47 |
0.78 |
0.76 |
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 |
519.764 |
676.634 |
676.634 |
|
Reserves & Surplus |
(10.311) |
(8.752) |
(47.504) |
|
Share Application money pending allotment |
156.869 |
0.000 |
0.000 |
|
Net
worth |
666.322 |
667.882 |
629.130 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
37.930 |
60.644 |
|
Short term borrowings |
0.860 |
14.482 |
380.870 |
|
Total
borrowings |
0.860 |
52.412 |
441.514 |
|
Debt/Equity
ratio |
0.001 |
0.078 |
0.702 |
%20LIMITED%20-%20258891_MIRA%2019-Mar-2014_files/image004.gif)
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 |
0.200 |
143.189 |
284.562 |
|
|
|
71,494.500 |
98.732 |
%20LIMITED%20-%20258891_MIRA%2019-Mar-2014_files/image006.gif)
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
|
0.200 |
143.189 |
284.562 |
|
Profit |
(4.111) |
1.560 |
(38.753) |
|
|
(2055.50%) |
1.09% |
(13.62%) |
%20LIMITED%20-%20258891_MIRA%2019-Mar-2014_files/image008.gif)
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
Rs.
In Millions
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current maturities of long term debt |
6.000 |
0.000 |
0.000 |
|
Total |
6.000 |
0.000 |
0.000 |
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
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 |
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Other loans and advances, others |
36.644 |
37.930 |
|
Short Term Borrowings |
|
|
|
Institute for Technology and Management Trust |
231.614 |
0.000 |
|
Total |
268.258 |
37.930 |
COMPANY OVERVIEW
The Company was incorporated on 7 July 2000 under the
Companies Act, 1956 (the Act). The Company is primarily engaged in undertaking,
carrying out and providing services in various fields of education and to
provide training facilities, necessary infrastructure and equipment for
developing the requisite skills required in performing educational services.
During the previous year, the Company had commenced educational services in
field of Business Management, Hotel Management and Fashion Designing.
FUTURE PROSPECTS:
The Company has commenced new various courses in Business Management, Hotel Management, Fashion Design etc as may be permitted under the prevailing measures and focus on increasing the student intake in the existing and new courses.
REVIEW OF OPERATIONS:
During the FY 2012-13, the Company reported 99.58% growth in
gross revenue from operations of Rs.287.050 Millions as against Rs.143.824
Millions and the Company incurred loss of Rs.38.753 Millions as against profit
of previous year of Rs.1.559 Millions.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10388475 |
05/11/2012 |
30,000,000.00 |
ICICI BANK LIMITED |
Landmarkrace Cource Circle, Alkapuri, Baroda, Gujarat - 390015, India |
B62777578 |
|
2 |
10388476 |
05/11/2012 |
70,000,000.00 |
ICICI BANK LIMITED |
Landmarkrace Cource Circle, Alkapuri, Baroda, Gujarat - 390015, India |
B62777750 |
|
3 |
10366852 |
02/04/2013 * |
100,000,000.00 |
YES BANK LIMITED |
9th Floor, Nehru Centre,
Discovery Of India, Dr. |
B75974923 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.60.95 |
|
|
1 |
Rs.101.37 |
|
Euro |
1 |
Rs.84.89 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
27 |
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.