MIRA
INFORM REPORT
|
Report Date : |
27.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
PICL (INDIA) PRIVATE
LIMITED (w.e.f. 14.08.2001) |
|
|
|
|
Formerly Known
As : |
POLAR
INTERCONTINENTAL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1st
Floor, Mohan Dev Building, Tolstoy Marg, New Delhi – 110 001 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
13.09.1994 |
|
|
|
|
Com. Reg. No.: |
55-061471 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.36.420
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1994PTC061471 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCP4524H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Electric Motors. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 640000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of Amber Enterprises India Private Limited. It is an established company having satisfactory track record. There seems some dip in the profit of the company during financial
year 2013 however, net worth of the company is satisfactory. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India’s current account deficit for the fiscal third quarter ended September
2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product from $31.9
billion or 6.5 % of GDP a year earlier, thanks to a pick-up in exports and
moderation in gold imports. Manufacturing activity and new orders in India
showed their strongest growth in a year in February. The news comes as a relief
after data showed Asia’s third largest economy grew by a slower-than-expected
4.7 % annually in the three months through December. The HSBC Manufacturing
Purchasing Managers’ Index which gauges the business activity of India’s
factories but not its’ utilities, rose to 52.5 in February, its highest in a
year from 51.4 in January. Overall new orders for factory goods which rose to a
one-year high of 54.9 contributed to the surge. China has emerged as India’s
biggest trading partner in the current financial year replacing the United Arab
Emirates and pushing it to the third spot. India-China trade has reached $49.5
billion with a 8.7 % share in India’s total trade. The US comes second at $46
billion with 8.1 % share during the first nine months of the current financial
year.
The Reserve Bank of India has granted an additional nine months to the
public to exchange currency notes printed before 2005 including Rs 500 and Rs
1,000 denominations, pushing the deadline to January 1, 2015. A day before
dates for the Lok Sabha polls were announced, the government decided to hike
interest rates on fixed deposit schemes offered by post offices up to 0.2 per
cent. The new rates will be effective April, 1. The Supreme Court will resume
hearing on March, 11 Nokia’s appeal against a ruling over transferring
ownership of its local mobile phones plant which is the subject of a tax
dispute to Microsoft Corp.
In the last days of the current Government, another scam has surfaced.
The defence ministry has ordered a probe into Hindustan Aeronautics Limited’s
contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The
Central Bureau of Investigation will look into allegations that over $80
million was paid in kickbacks in a deal signed in 2011. India has asked Boeing
Co. to find a solution for problems with state-owned Air India’s 787
Dreamliners. The aircraft has experienced a series of malfunctions since its
debut in 2011.
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
Management Non Co-operative (91-129-4284430)
LOCATIONS
|
Registered Office : |
1st
Floor, Mohan Dev Building, Tolstoy Marg, New Delhi – 110 001, India |
|
Tel. No.: |
91-11-26856010/ 46014558/ 26968845/ 26565452 |
|
Fax No.: |
91-11-26855020 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Plot No.99 and
92, Sector-6, Faridabad – 121 006, Haryana, India |
|
Tel. No.: |
91-129-4061101-03/ 4284400-30 |
|
Fax No.: |
91-129-4061101-03 |
DIRECTORS
AS ON 27.09.2013
|
Name : |
Mr. Daljit Singh |
|
Designation : |
Managing Director |
|
Address : |
20 A, SBS Colony, Rajpura – 140401, Punjab, India |
|
Date of Birth/Age : |
01.05.1978 |
|
Date of Appointment : |
12.11.2012 |
|
DIN No.: |
02023964 |
|
|
|
|
Name : |
Mr. Satwinder Singh |
|
Designation : |
Director |
|
Address : |
F/703, Mayurdhwaj Apartments, 601 P Extension, Patparganj, New Delhi –
110092, India |
|
Date of Birth/Age : |
06.07.1964 |
|
Date of Appointment : |
12.11.2012 |
|
DIN No.: |
00164903 |
|
|
|
|
Name : |
Mr. Jasbir Singh |
|
Designation : |
Director |
|
Address : |
20 A, SBS Colony, Rajpura – 140401, Punjab, India |
|
Date of Birth/Age : |
28.05.1975 |
|
Date of Appointment : |
12.11.2012 |
|
DIN No.: |
00259632 |
|
|
|
|
Name : |
Mr. Rakesh Dewan |
|
Designation : |
Director |
|
Address : |
10/9, Sarvapriya Vihar, New Delhi – 110016, India |
|
Date of Birth/Age : |
22.09.1951 |
|
Date of Appointment : |
13.09.1994 |
|
DIN No.: |
00488008 |
|
|
|
|
Name : |
Mr. Satyaprakash Ramamurthy |
|
Designation : |
Director |
|
Address : |
Flat 201, Palazzo Residency, Plot 491, 17th Floor Road, Khar
(West), Mumbai – 400052, Maharashtra, India |
|
Date of Birth/Age : |
12.05.1968 |
|
Date of Appointment : |
27.09.2013 |
|
DIN No.: |
00956349 |
|
|
|
|
Name : |
Mr. Anand Mundra |
|
Designation : |
Director |
|
Address : |
Flat No. 301, 302, 3rd Floor, Nirmal Building, Plot No.453,
At 110 Bhavani Shankar Road, Mumbai – 400028, Maharashtra, India |
|
Date of Birth/Age : |
21.12.1978 |
|
Date of Appointment : |
27.09.2013 |
|
DIN No.: |
03098196 |
MAJOR SHAREHOLDERS
AS ON 27.09.2013
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Amber Enterprises Limited |
3027595 |
83.13 |
|
Rakesh Devan |
614405 |
16.87 |
|
Total |
3642000 |
100.00 |
%20PRIVATE%20LIMITED%20-%20260604%2027-Mar-2014_files/image002.gif)
Equity Share Break up (Percentage of Total Equity)
AS ON 27.09.2013
|
Category |
Percentage |
|
Bodies corporate |
83.13 |
|
Directors or relatives of Directors |
16.87 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Electric Motors. |
|
|
|
|
Products : |
·
Duct Free Split AC ·
Washing Machine Motors ·
Window AC ·
HVAC Motors ·
Evaporative Air Coolers Motors ·
Fan Coil Unit Motors ·
Food Processor Motors ·
3 Phase Industrial Motors |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
·
Corporation Bank, Bhikaji Cama Place Branch, 3,
Ansal Chambers-I, Bhikaji Cama Place, New Delhi – 110 066, India ·
The Hong Kong and Shanghai Banking Corporation Limited,
Birla House, 25 Barakhamba Road, New Delhi – 110001, India |
||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M. Malik and Associates Chartered Accountants |
|
Address : |
UG-39, Ansal
Chambers-II, 6, Bhikaji Cama Place, New Delhi – 110 066, India |
|
Tel. No.: |
91-11-26182776/ 66303629 |
|
Mobile No.: |
91-9312260822 |
|
Fax No.: |
91-11-26185149 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AAJPM3190N |
|
|
|
|
Holding Company
: |
Amber Enterprises (India) Private Limited (w.e.f November 12, 2012) |
|
|
|
|
Enterprises over
which key managerial personnel (KMP) of the Company and their relatives have
significant influence : |
·
Expo Sales India Private Limited ·
Home Appliances Company ·
Star Academy Private Limited ·
Grinder Care Enterprises Private Limited |
CAPITAL STRUCTURE
AS ON 27.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3642000 |
Equity Shares |
Rs.10/- each |
Rs.36.420 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 |
36.420 |
36.420 |
36.420 |
|
(b) Reserves & Surplus |
125.398 |
112.377 |
90.039 |
|
(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) |
161.818 |
148.797 |
126.459 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
14.652 |
20.489 |
71.918 |
|
(b) Deferred tax liabilities (Net) |
2.023 |
0.827 |
1.633 |
|
(c) Other long term liabilities |
3.360 |
1.478 |
0.000 |
|
(d) long-term provisions |
5.735 |
3.792 |
3.709 |
|
Total Non-current Liabilities (3) |
25.770 |
26.586 |
77.260 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
200.979 |
158.000 |
127.443 |
|
(b) Trade payables |
338.283 |
333.488 |
251.101 |
|
(c) Other current
liabilities |
33.163 |
44.714 |
8.010 |
|
(d) Short-term provisions |
0.129 |
0.122 |
1.533 |
|
Total Current Liabilities (4) |
572.554 |
536.324 |
388.087 |
|
|
|
|
|
|
TOTAL |
760.142 |
711.707 |
591.806 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
140.117 |
124.355 |
126.471 |
|
(ii) Intangible Assets |
5.047 |
2.986 |
0.917 |
|
(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 |
0.000 |
0.000 |
1.900 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
31.798 |
28.091 |
47.271 |
|
(e) Other Non-current assets |
13.601 |
12.503 |
0.000 |
|
Total Non-Current Assets |
190.563 |
167.935 |
176.559 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
171.700 |
184.461 |
157.612 |
|
(c) Trade receivables |
213.813 |
140.826 |
193.113 |
|
(d) Cash and cash
equivalents |
65.230 |
135.217 |
12.714 |
|
(e) Short-term loans and
advances |
118.836 |
83.268 |
48.119 |
|
(f) Other current assets |
0.000 |
0.000 |
3.689 |
|
Total Current Assets |
569.579 |
543.772 |
415.247 |
|
|
|
|
|
|
TOTAL |
760.142 |
711.707 |
591.806 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1552.731 |
1342.389 |
|
|
|
|
Other Income |
27.400 |
17.561 |
|
|
|
|
TOTAL |
1580.131 |
1359.950 |
NA |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
1230.451 |
1062.108 |
|
|
|
|
TOTAL |
1230.451 |
1062.108 |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
53.678 |
62.058 |
35.643 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/ AMORTISATION |
18.064 |
16.738 |
15.599 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
35.614 |
45.320 |
20.044 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
13.487 |
12.969 |
3.049 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
22.127 |
32.351 |
16.995 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
628.957 |
475.934 |
346.205 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.08 |
8.88 |
4.67 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.40 |
2.38 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.29 |
3.38 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.69 |
6.37 |
3.40 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22 |
0.30 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.33 |
1.20 |
1.58 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.99 |
1.01 |
1.07 |
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 |
36.420 |
36.420 |
36.420 |
|
Reserves & Surplus |
90.039 |
112.377 |
125.398 |
|
Net
worth |
126.459 |
148.797 |
161.818 |
|
|
|
|
|
|
long-term borrowings |
71.918 |
20.489 |
14.652 |
|
Short term borrowings |
127.443 |
158.000 |
200.979 |
|
Total
borrowings |
199.361 |
178.489 |
215.631 |
|
Debt/Equity
ratio |
1.576 |
1.200 |
1.333 |
%20PRIVATE%20LIMITED%20-%20260604%2027-Mar-2014_files/image004.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
1342.389 |
1 552.731 |
|
|
|
15.669 |
%20PRIVATE%20LIMITED%20-%20260604%2027-Mar-2014_files/image006.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
1342.389 |
1552.731 |
|
Profit |
32.351 |
22.127 |
|
|
2.41% |
1.43% |
%20PRIVATE%20LIMITED%20-%20260604%2027-Mar-2014_files/image008.gif)
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
two 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 |
PERFORMANCE:
The performance of
subject was encouraging during the year under review. Subject made a turnover
of Rs.1552.731 Millions during the year as compared to a turnover of
Rs.1342.389 Millions made during the previous year. On year to year basis the
turnover increased by 15.66%. It made a profit (after tax) of Rs.22.127
Millions during the year as compared to Rs.32.354 Millions earned during the
immediately preceding previous year, which shows a an decrease of Rs.10.227
Millions. The directors assure you that they will continue to work hard for
achieving new heights in respect to the holistic performance of the company.
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Loans and
Advances from Directors |
13.698 |
13.698 |
|
|
|
|
|
Total |
13.698 |
13.698 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10403127 |
02/02/2013 |
80,000,000.00 |
AXIS
BANK LTD. |
2ND
FLOOR, STATESMAN HOUSE, 148, BARAKHAMBA ROAD, |
B68158138 |
|
2 |
10397092 |
29/01/2013
* |
38,800,000.00 |
AXIS
BANK LTD. |
2ND
FLOOR, STATESMAN HOUSE, 148, BARAKHAMBA ROAD, |
B67558247 |
|
3 |
10397090 |
29/01/2013
* |
90,000,000.00 |
AXIS
BANK LTD. |
2ND
FLOOR, STATESMAN HOUSE, 148, BARAKHAMBA ROAD, |
B67553792 |
|
4 |
10397097 |
09/01/2013 |
43,000,000.00 |
AXIS
BANK LTD. |
2ND
FLOOR, STATESMAN HOUSE, 148, BARAKHAMBA ROAD, |
B65927568 |
|
5 |
10176379 |
30/05/2011
* |
196,200,000.00 |
CORPORATION
BANK |
BHIKAJI
CAMA PLACE BRANCH, 3,ANSAL CHAMBERS-I,BHI |
B15347362 |
|
6 |
10164449 |
29/06/2009 |
237,100,000.00 |
CORPORATION
BANK |
BHIKAJICAMA
PLACE BRANCH, NEW DELHI, DELHI - 11000 |
A64898000 |
|
7 |
10137980 |
14/01/2013
* |
211,700,000.00 |
CORPORATION
BANK |
BHIKAJI
CAMA PLACE BRANCH, 3, ANSAL CHAMBERS-I, B |
B69705549 |
|
8 |
10005710 |
27/10/2007
* |
165,000,000.00 |
CORPORATION
BANK |
BHIKAJICAMA
PLACE, NEW DELHI, DELHI - 110066, INDI |
A26961706 |
|
9 |
90039694 |
31/12/2004 |
75,000,000.00 |
CORPORATION
BANK |
BHIKAJI
CAMA PLACE BRANCH, NEW DELHI, DELHI, INDIA |
- |
|
10 |
90038071 |
03/05/2003 |
10,000,000.00 |
CORPORATION
BANK |
BHIKAJI
CAMA PLACE BRANCH, NEW DELHI, DELHI, INDIA |
- |
|
11 |
90037114 |
04/03/2002 |
2,500,000.00 |
CORPORATION
BANK |
BHIKAJI
CAMA PLACE BRANCH, NEW DELHI, DELHI, INDIA |
- |
|
12 |
90035227 |
03/06/1999 |
4,000,000.00 |
CORPORATION
BANK |
BHIKAJI
CAMA PLACE BRANCH, NEW DELHI, DELHI, INDIA |
- |
* Date of charge modification
FIXED ASSETS:
·
Land
·
Building
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Computer
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.60.17 |
|
|
1 |
Rs.99.39 |
|
Euro |
1 |
Rs.83.09 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
45 |
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.