MIRA INFORM REPORT
|
Report Date : |
28.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
M D INGOTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
3, Raja Raj Kishan Street, Kolkata – 700006, West Bengal |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
20.12.1993 |
|
|
|
|
Com. Reg. No.: |
061169 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.142 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U01132WB1993PTC061169 |
|
|
|
|
IEC No.: |
0207015708 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALM07765C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCM7007R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Retailer of Wooden Packaging Like Wooden Pallets,
Carates, Wooden Door Frame, Window, Wooden Furniture etc. |
|
|
|
|
No. of Employees
: |
10 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The rating reflects small scale of business operation marked by below average
liquidity position on account of huge external borrowing taken by the
company. 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.
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. Debasisih Roy |
|
Designation : |
Chartered Accountant |
|
Contact No.: |
91-9830171880 |
|
Date : |
25.03.2014 |
LOCATIONS
|
Registered Office : |
3, Raja Raj Kishan Street, Kolkata – 700006, West Bengal, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9830171880 (Mr. Debasisih Roy) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Warehouse/ Factory : |
Rajarhat – Gopalpur, Joger Danga, Barasat, North 24 Parganas – 700136,
India |
|
Location : |
Rented |
DIRECTORS
(AS ON 31.03.2013)
|
Name : |
Mrs. Madhuri Vijayshankar Kedia |
|
Designation : |
Director |
|
Date of Birth/Age : |
01.6.1957 |
|
PAN No.: |
AFVPK4548R |
|
|
|
|
Name : |
Mr. Rohit Vijayshankar Kedia |
|
Designation : |
Director |
|
Date of Birth/Age : |
01.01.1976 |
|
PAN No.: |
AFPPK2173N |
KEY EXECUTIVES
|
Name : |
Mr. Debasisih Roy |
|
Designation : |
Chartered Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 31.03.2013)
|
Particulars |
No. of Shares |
Percentage |
|
|
|
|
|
Madhuri Kedia |
2100 |
14.79% |
|
Rohit Kedia |
12100 |
85.21% |
|
|
|
|
|
Total |
14200 |
100.00% |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Retailer of Wooden Packaging Like Wooden Pallets,
Carates, Wooden Door Frame, Window, Wooden Furniture etc. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (45-60 days) |
|
|
|
|
Purchasing : |
Cash and Credit (30-45 days) |
GENERAL INFORMATION
|
Suppliers : |
· Asoke Timber Company · Shree Gita Saw Mill · Jyoti Enterprise · K B Industries · M B Wire Products · Naveen Timber Industries · P G Timber Private Limited · Pioneer Traders · Rajgaria Timber (Private) Limited · Sanjay Jain and Associates · S. K. Enterprise · Vasani Enterprise |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Customers : |
· Ambica Jute Mills Limited, India · Anmol Creations, India · Bally Jute Company Limited · Basukinath Food Processors Limited · Bitech Building Elements Limited · Box Pack · Bush Tea Company (Private) Limited · Dhunderi Petrochem and Tea Limited · D M P Nirman (Private) Limited · Ganges Jute Private Limited · Kanoi Tea (Private) Limited · Keventer Agro Limited · Prakash Trading Company · Ram Prasad Brij Lal · RDB Rasayans Limited · S B Traders · Trade Well Corporation |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
10 (Approximately) |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
·
The Federal Bank Limited C.
R. Avenue Branch, 8, Chittaranjan Avenue, Kolkata, West Bengal - 700072,
India · Punjab National Bank C. R. Avenue Branch, Kolkata – 700072, West Bengal, India (Current Accounts) |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sanjay Jain and Associates Chartered Accountants |
|
Address : |
11, Esplande East Row, 1st Floor, Room No.2, Kolkata –
700069, West Bengal, India |
|
Tel No.: |
91-33-22108761/ 22624067 |
|
Email : |
CAPITAL STRUCTURE
(AS ON 30.09.2013)
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
49200 |
Equity Shares |
Rs.10/- each |
Rs.0.492
Millions |
|
|
|
|
|
(AS ON 31.03.2013)
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14200 |
Equity Shares |
Rs.10/- each |
Rs.0.142
Millions |
|
|
|
|
|
Reconciliation of the shares outstanding at the beginning and at the end
of the reporting period
|
Particulars |
As on 31.03.2013 |
|
|
|
Nos. |
Rs. In Millions |
|
At the beginning of the period |
14,200 |
0.142 |
|
Issued during the period |
-- |
-- |
|
At the End of the Period |
14,200 |
0.142 |
Shares in the company held by each shareholders holding more than 5
percent shares (Equity Shares in Nos. of Rs.10 each)
|
Name of Share Holders |
As on 31.03.2013 |
|
|
No. of Shares |
|
Madhuri Kedia |
2100 |
|
Rohit Kedia |
12100 |
|
|
|
The company will issue equity shares to the
application @ Rs.10/- per shares. The company does not have sufficient authorized
shares capital to an accommodated such allotments per the explanation of the
management the authorized capital will be enhanced to accommodate such
allotment.
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 |
0.142 |
0.142 |
0.142 |
|
(b) Reserves & Surplus |
0.913 |
0.798 |
0.669 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
2.135 |
2.135 |
0.635 |
|
Total
Shareholders’ Funds (1)+(2) |
3.190 |
3.075 |
1.446 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
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 |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
7.487 |
2.095 |
2.300 |
|
(b) Trade
payables |
14.359 |
16.377 |
3.973 |
|
(c) Other
current liabilities |
1.883 |
0.142 |
2.900 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
23.729 |
18.614 |
9.173 |
|
|
|
|
|
|
TOTAL |
26.919 |
21.689 |
10.619 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
0.370 |
0.419 |
0.440 |
|
(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 |
0.015 |
0.015 |
0.000 |
|
(c) Deferred tax assets (net) |
0.002 |
0.003 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
0.387 |
0.437 |
0.440 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
4.018 |
3.252 |
2.389 |
|
(c) Trade
receivables |
18.350 |
13.306 |
5.886 |
|
(d) Cash
and cash equivalents |
1.776 |
2.231 |
1.366 |
|
(e)
Short-term loans and advances |
0.000 |
0.000 |
0.000 |
|
(f) Other
current assets |
2.388 |
2.463 |
0.538 |
|
Total Current
Assets |
26.532 |
21.252 |
10.179 |
|
|
|
|
|
|
TOTAL |
26.919 |
21.689 |
10.619 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
14.808 |
13.581 |
8.187 |
|
|
|
Other Income |
3.269 |
0.114 |
0.049 |
|
|
|
TOTAL (A) |
18.077 |
13.695 |
8.236 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of Stock in Trade |
16.330 |
12.125 |
6.926 |
|
|
|
Changes in Inventories of finished Goods work in progress and stock in
trade |
(0.766) |
(0.864) |
(0.616) |
|
|
|
Employee Benefits Expenses |
0.592 |
0.554 |
0.444 |
|
|
|
Other Expenses |
0.381 |
0.411 |
0.404 |
|
|
|
TOTAL (B) |
16.537 |
12.226 |
7.158 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1.540 |
1.469 |
1.078 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.312 |
1.237 |
0.901 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
0.228 |
0.232 |
0.177 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.049 |
0.053 |
0.049 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
(E-F) (G) |
0.179 |
0.179 |
0.128 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.063 |
0.050 |
0.035 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
0.116 |
0.129 |
0.093 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
8.14 |
9.08 |
6.53 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.64
|
0.94 |
1.13 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.21
|
1.32 |
1.56 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.67
|
0.83 |
1.21 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.06 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.35
|
0.68 |
1.59 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.12
|
1.14 |
1.11 |
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 |
0.142 |
0.142 |
0.142 |
|
Reserves & Surplus |
0.669 |
0.798 |
0.913 |
|
Net worth |
0.811 |
0.940 |
1.055 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
2.300 |
2.095 |
7.487 |
|
Total borrowings |
2.300 |
2.095 |
7.487 |
|
Debt/Equity ratio |
2.836 |
2.229 |
7.097 |
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) |
|
Revenue from Operations |
8.187 |
13.581 |
14.808 |
|
|
|
65.885 |
9.035 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from Operations |
8.187 |
13.581 |
14.808 |
|
Profit |
0.093 |
0.129 |
0.116 |
|
|
1.14% |
0.95% |
0.78% |
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
No |
------------------------------------------------------------------------------------------------------------------------------
UNSECURED LOANS
|
Particulars |
31.03.2013 |
31.03.2012 |
|
|
(Rs. In Millions) |
|
|
Short Term
Borrowings |
|
|
|
Loans from Directors |
1.600 |
0.000 |
|
Loans from others |
|
|
|
Pradip Sikaria |
0.050 |
0.000 |
|
NSIC Durgapur |
1.965 |
0.000 |
|
NSIC Kolkata |
2.498 |
0.000 |
|
|
|
|
|
Total |
6.113 |
0.000 |
------------------------------------------------------------------------------------------------------------------------------
CALCULATIONS OF TAXABLE INCOME AND INCOME FOR THE ASSESSMENT YEAR
2013-2014
(RS. IN MILLIONS)
|
Particulars |
2013-2014 |
|
|
Income from Business |
|
|
|
Net Profit/ Book Profit before Taxation and
Provision as per profit and loss a/c |
0.179 |
|
|
Add: Depreciation as per companies Act 1956 |
0.049 |
|
|
Add: Expenditure Disallowed |
|
|
|
1.Interests on VAT |
0.000 |
|
|
2.Interests on Profession Tax |
0.000 |
|
|
3. VAT Penalty |
0.015 |
0.243 |
|
|
|
|
|
Less: Depreciation as per Income Tax Act
1961 |
|
0.053 |
|
Profit for the year 2011-2012 |
|
0.190 |
|
Taxable Income |
|
0.190 |
|
Rounded off U/s 288A |
|
0.190 |
|
Tax Thereon |
|
0.057 |
|
Add: Education Cess @ 3% |
|
0.002 |
|
Total Tax Payable |
|
0.059 |
|
Less: Advance Tax Paid |
|
0.015 |
|
Less: TDS |
|
0.076 |
|
|
|
(0.033) |
|
Tax Payable / (Refundable) |
|
(0.033) |
CALCULATION OF MAT
(MINIMUM ALTERNATE TAX) FOR THE ASST. YEAR 2013-14
|
Book Profit as profit and loss accounts for
the year 2012-13 |
|
0.179 |
|
|
|
|
|
MAT 18.50% |
|
0.033 |
|
|
|
|
|
Add: Ed. Cess 3% |
|
0.001 |
|
|
|
0.034 |
|
|
|
|
|
Less: Advance Tax Paid |
|
0.015 |
|
|
|
0.019 |
CALCULATION OF
DEFERRED TAX LIABILITIES / ASSETS AS ON 31.03.2013
|
Difference in Carring Cost of Assets as per
companies Act and Income Tax (WDV) as
on 31.03.2013 |
|
0.007 |
|
|
|
|
|
Tax thereon 32.445% |
|
0.002 |
------------------------------------------------------------------------------------------------------------------------------
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
80044629 |
28/04/2008 * |
2,500,000.00 |
THE FEDERAL BANK LIMITED |
C. R. AVENUE BRANCH, 8,
CHITTARANJAN AVENUE, KOLKATA, WEST BENGAL - 700072, INDIA |
A37187713 |
------------------------------------------------------------------------------------------------------------------------------
FIXED ASSETS:
· Computer
· Office Equipment
· Factory Shed
· Levelling and Measurement
· Machineries
· Band Saw Machine
· Sander Machine
· Motor Car
· Fire Extinguishers
· Fax Machine
· Mobile
· Planner Machine
· Submersible Pump
· DG Set
· Motor
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
|
Report Prepared by
: |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
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.