MIRA INFORM REPORT
|
Report Date : |
26.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
andrew telecommunicationS India private
LIMITED |
|
|
|
|
Registered
Office : |
Plot No. N-2, Phase IV, Verna Industrial Estate, Verna Salcette – 403
511, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
09.10.1997 |
|
|
|
|
Com. Reg. No.: |
24-002452 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.49.404 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32204GA1997PTC002452 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRA04908B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCA8820A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Company is engaged in providing telecommunication
solutions |
|
|
|
|
No. of Employees
: |
1000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 7600000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The rating reflects moderate financial risk profile marked by continuous
losses that company has incurred over year and below average financial
performance. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealing with some caution. |
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 PARTED BY
|
Name : |
Ms. Alpita |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-832-6685200 |
|
Date : |
25.03.2014 |
LOCATIONS
|
Registered Office/Factory : |
Plot No. N-2, Phase IV, Verna Industrial Estate, Verna Salcette – 403
511, Goa, India |
|
Tel. No.: |
91-832-6685200/ 201/ 202/ 2407303/ 6685107 |
|
Fax No.: |
91-832-6685025/ 6685104/ 6685107/ 6685210 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Andrew Corporation |
|
Tel. No.: |
1-708-349-3300 |
|
|
|
|
Overseas Office
: |
Located at · · · · · · · · · Hong Kong · · · · · · · · · · · · · Switzerland · · ·
|
DIRECTORS
(AS ON 30.09.2013)
|
Name : |
Mr. Daniel John Hartnett |
|
Designation : |
Director |
|
Address : |
110 South |
|
Date of Birth/Age : |
16.10.1955 |
|
Date of Appointment : |
10.11.1998 |
|
DIN No.: |
00438363 |
|
|
|
|
Name : |
Mr. Antonio Augusto Do Rego |
|
Designation : |
Managing Director |
|
Address : |
Apartment 145/155, Casa Del SOL, Opposite Marriott, Beach Resort,
Miramar Panjim – 403001, Goa, India |
|
Date of Birth/Age : |
24.09.1960 |
|
Date of Appointment : |
20.11.2007 |
|
DIN No.: |
01895508 |
|
|
|
|
Name : |
Mr. Michael David Coppin |
|
Designation : |
Director |
|
Address : |
1546, Withers Dr. Denver NC 28037-5466 USA |
|
Date of Birth/Age : |
26.09.1964 |
|
Date of Appointment : |
20.05.2008 |
|
DIN No.: |
02135137 |
KEY EXECUTIVES
|
Name : |
Ms. Alpita |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2013)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Andrew |
|
4940431 |
|
|
|
1 |
|
|
|
|
|
Total |
|
4940432 |
(AS ON 30.09.2013)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Company is engaged in providing telecommunication
solutions |
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|
Products : |
|
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Terms : |
|
||||||||
|
Selling : |
L/C and Credit |
||||||||
|
|
|
||||||||
|
Purchasing : |
L/C and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
|
|
|
|
No. of Employees : |
1000 (Approximately) |
|
|
|
|
Bankers : |
Bank of America, Delhi Branch, India
|
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S R Batliboi and Company LLP Chartered Accountants |
|
Address : |
14th Floor, Theruby, 29 Senapati Bapat Marg, dadar (West), Mumbai – 400028, Maharashtra, India |
|
PAN No.: |
ACHFS9180N |
|
|
|
|
Holding Company : |
·
Andrew LLC, U.S.A. |
|
|
|
|
Ultimate Holding
Company : |
·
CommScope Holding Co. Inc. |
|
|
|
|
Fellow subsidiary : |
· Andrew Limited (UK) · Andrew AG (Switzerland) · Andrew Telecommunications (China) Company Limited · Andrew International Corporation, Hong Kong Branch · Andrew Japan (KK) · Andrew LLC, Taiwan Branch · Commscope Australia Pty Limited (formerly Andrew Corporation (Australia) Pty Limited) · Andrew Telecommunications S.R.O (Czech Republic) · Andrew Telecommunication Systems (Singapore) Pte Limited · Commscope Italy Srl · Forem (Shenzhen) Company Limited · Andrew Wireless Solutions Africa · Andrew Wireless Systems GmbH, Germany · CommScope Cabos Do Brasil Ltda · CommScope Solutions India Private Limited · CommScope Asia Suzhou Technologies Company Limited, China · CommScope (Suzhou) Trading Company Limited · Commscope Solutions Singapore Pte Limited ·
CommScope Inc. of North Carolina, U.S.A. ·
Allen Telecom Finland ·
Andrew International Services Corp., Joliet ·
Argus Technologies China Limited ·
Commscope EMEA Limited, Ireland |
CAPITAL STRUCTURE
(AS ON 30.09.2013)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4940432 |
Equity Shares |
Rs.10/- each |
Rs.49.404
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 |
49.404 |
49.404 |
49.404 |
|
(b) Reserves & Surplus |
1855.773 |
2206.464 |
2383.097 |
|
(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) |
1905.177 |
2255.868 |
2432.501 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
1199.240 |
1199.240 |
1199.240 |
|
(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) |
1199.240 |
1199.240 |
1199.240 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
1071.166 |
1112.546 |
1691.190 |
|
(c) Other
current liabilities |
100.605 |
89.157 |
223.546 |
|
(d) Short-term
provisions |
15.100 |
10.296 |
12.655 |
|
Total Current
Liabilities (4) |
1186.871 |
1211.999 |
1927.391 |
|
|
|
|
|
|
TOTAL |
4291.288 |
4667.107 |
5559.132 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
517.352 |
721.652 |
914.286 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
15.525 |
6.518 |
15.151 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
712.606 |
607.668 |
486.620 |
|
(e) Other
Non-current assets |
0.944 |
6.344 |
15.365 |
|
Total Non-Current
Assets |
1246.427 |
1342.182 |
1431.422 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
841.069 |
861.958 |
1226.626 |
|
(c) Trade
receivables |
846.171 |
775.023 |
1733.210 |
|
(d) Cash
and cash equivalents |
756.030 |
1269.634 |
592.490 |
|
(e)
Short-term loans and advances |
555.971 |
385.909 |
423.152 |
|
(f) Other
current assets |
45.620 |
32.401 |
152.232 |
|
Total
Current Assets |
3044.861 |
3324.925 |
4127.710 |
|
|
|
|
|
|
TOTAL |
4291.288 |
4667.107 |
5559.132 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
4484.463 |
4252.708 |
5744.749 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
4709.964 |
4245.019 |
5567.322 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
(225.501) |
7.689 |
177.427 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
123.730 |
180.141 |
177.427 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX) |
(349.232) |
(172.452) |
0.000 |
|
|
|
|
|
|
|
|
|
|
PRIOR PERIOD
ITEM |
0.000 |
0.000 |
(34.190) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
1.795 |
65.561 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
(349.232) |
(174.247) |
(31.401) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
733.005 |
907.252 |
938.653 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
383.773 |
733.005 |
907.252 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Export |
1239.325 |
933.419 |
1079.272 |
|
|
|
Agency Commission |
2.015 |
9.127 |
7.605 |
|
|
TOTAL EARNINGS |
1241.340 |
942.546 |
1086.877 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(70.69) |
(35.27) |
(6.36) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(7.79)
|
(4.10) |
(0.55) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(8.17)
|
(3.70) |
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.18)
|
(0.08) |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.63
|
0.53 |
0.49 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.57
|
2.74 |
2.14 |
FINANCIAL ANALYSIS
[All figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
49.404 |
49.404 |
49.404 |
|
Reserves & Surplus |
2,383.097 |
2,206.464 |
1,855.773 |
|
Net worth |
2,432.501 |
2,255.868 |
1,905.177 |
|
|
|
|
|
|
long-term borrowings |
1,199.240 |
1,199.240 |
1,199.240 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
1,199.240 |
1,199.240 |
1,199.240 |
|
Debt/Equity ratio |
0.493 |
0.532 |
0.629 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Total Income |
5,744.749 |
4,252.708 |
4,484.463 |
|
|
|
(25.972) |
5.450 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR) |
(INR) |
(INR) |
|
Total Income |
5,744.749 |
4,252.708 |
4,484.463 |
|
Profit |
(31.401) |
(174.247) |
(349.232) |
|
|
(0.55%) |
(4.10%) |
(7.79%) |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITY
OF LONG TERM BORROWINGS DETAIL: NOT AVAILABLE
|
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
No |
------------------------------------------------------------------------------------------------------------------------------
CASE INFORMATION
SYSTEMS
|
Reg. No. :- TXA / 5 /
2009 |
Stamp No. :- STM / 844 / 2009
|
|
Case Status : |
Pending (Final
Hearing) |
|
Petitioner : |
The commissioner
of Income Tax |
|
Respondent : |
Andrew
Telecommunication India Private Limited |
|
Petitoner Adv. : |
S. R. Rivonkar |
|
District : |
North Goa |
|
Bench : |
Division |
|
Act : |
Income Tax Act,
1961 |
|
Category : |
Tax Appeal |
|
Case Stage : |
FOR FINAL HEARING
|
|
Hearing Date : |
18 January 2010 |
|
Application Maters |
Connected Maters |
|
No application matters |
TXA / 5 / 2009 |
This
Case is updated on: 29 May 2013
------------------------------------------------------------------------------------------------------------------------------
UNSECURED LOANS
|
Particular |
As on 31.03.2013 |
As on 31.03.2012 |
|
Long-term borrowings |
|
|
|
Bonds/ Debentures Privately Placed Debentures |
1199.240 |
1199.240 |
|
Total |
1199.240 |
1199.240 |
|
During the year 2009-10 the Company has issued 11,992,400 numbers of 12.5% unsecured Fully Convertible Debentures (FCD) of Rs.100/- each convertible into equity shares of Rs.10 each at a premium of Rs.90, provided the FCDs shall be compulsorily converted into Equity Shares at the end of the term of 51 (fifty one) years to be computed from the date of issue of the FCDs, provided that: If the conversion price (face value plus premium) is less than the price, as on or around the date of conversion, as per the minimum pricing guidelines stipulated by the Reserve Bank of India (Regulatory Price), all FCDs shall be converted into such numbers of Equity Shares as is arrived at by dividing the aggregate value of FCDs by the Regulatory Price and (2) the Equity Shares to be issued pursuant to the conversion shall be a round figure. Conversion Date: The Conversion Date shall be at the end of the Term, except in the case of an Accelerated Conversion (as defined below) or a Default. The principal and accrued interest, if any, will be converted into Equity Shares on the Conversion Date, subject to regulatory approvals. Accelerated Conversion: The FCDs will be converted into Equity Shares, if (i) the Company is insolvent, (ii) a judgment is issued for the Companys judicial liquidation , (iii) the Company is otherwise wound up or dissolved, except in connection with a merger or other reorganisation, provided that the transferee entity in such merger or reorganisation assumes the obligations resulting from the FCDs, (iv) the law requires a shorter period of conversion of the FCDs or (v) the Company, at its sole option, converts the FCDs into Equity Shares in one or more tranches, but not before June 30, 2015 Interest : Interest shall accrue at a rate of 12.5% per annum payable on the average total face value of all outstanding debentures during the respective financial year, provided that (1) the payment accrues and is payable , if and only to the extent that the company realises profit in the relevant financial year and (2) the interest shall be paid or converted into debentures within a period of 3 years from the date it is due, subject to regulatory approvals |
||
NOTE:
The Registered office of the company has been
shifted from Plot No.76, Pilerne Industrial Estate, Bardez, Goa – 403511 India,
to the present address w.e.f. 15.01.2007.
BACKGROUND
The Company"
or "Andrew") is registered in India as a wholly-owned subsidiary
company of Andrew LLC, U.S.A. (formerly known as Andrew Corporation, U.S.A.);
the ultimate holding company being CommScope Holding Co. Inc. (effective 14
January 2011 and CommScope Inc prior to such date).
CommScope or
formerly Andrew group is engaged in providing telecommunication solutions.
CommScope is the foremost global supplier of one-stop, end-to-end radio
frequency subsystem solutions. The group designs, manufactures and delivers
complete solutions for wireless infrastructure, including top-of-the-tower base
station antennas to cable systems, radio frequency site solutions, signal
distribution and network optimization solutions. Andrew Telecommunication India
Private Limited is primarily engaged in the business of providing complete
solutions to customers in the telecommunication industry. The Company supplies
telecommunication products such as co-axial cables, base station antennas,
micro-wave antennas and similar allied products to its customers as a single
complete solution and the solution may include such products which may be
manufactured from raw materials or imported as finished goods, depending on the
requirement of the end customers.
INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY
FIXED ASSETS:
· Leasehold Land
· Leasehold Improvements
· Buildings
· Plant and Machinery
· Office Equipment
· Furniture and Fixtures
· 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.60.49 |
|
|
1 |
Rs.99.77 |
|
Euro |
1 |
Rs.83.67 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
32 |
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.