MIRA INFORM REPORT
|
Report Date : |
07.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
IRIS COMPUTERS LIMITED |
|
|
|
|
Registered
Office : |
E-69, Vasant Marg, Vasant Vihar, |
|
|
|
|
Country : |
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|
|
|
Financials (as on)
: |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
28.08.1996 |
|
|
|
|
Com. Reg. No.: |
55-081490 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.41.368
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72100DL1996PLC081490 |
|
|
|
|
TIN No. : |
07060189977 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELI02189F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACI9670H |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
Line of Business
: |
Distributor of IT Product. |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having satisfactory track record. As per registrar of companies the date of balance sheet (i.e.
financial filed) is shown as 31.03.2014 but the documents related to
financials are not available for any source. As per available financial of 2013, the rating reflects established market
position of ICL in the business of distribution of computers, consistent
growth in the operations, wide distribution network, its long association
with the reputed vendors and sound general financial position of the company. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and condition. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks
over coal supply contracts, uncertainty over cancellation of blocks weigh on
stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities: BBB |
|
Rating Explanation |
Moderate degree at safety and moderate
credit risk. |
|
Date |
15.01.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities: A3 |
|
Rating Explanation |
Moderate degree at safety and high credit
risk. |
|
Date |
15.01.2014 |
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Jitendra Joshi |
|
Designation : |
Account |
|
Contact No.: |
91-11-26782505 |
|
Date : |
06.11.2014 |
LOCATIONS
|
Registered Office : |
E-69, Vasant Marg, Vasant Vihar, |
|
Tel. No.: |
91-11-26146808/ 26782505/ 54/ 26782505 |
|
Fax No.: |
91-11-26149613/ 26782510 |
|
E-Mail : |
sanjiv.krishen@iriscomputers.net |
|
Website : |
|
|
Locations : |
Owned |
|
|
|
|
Head Office / Branch Office: |
8, Goyal Intercity Row House Near Drive In Cinema, Drive In Road,
Thaltej, Ahmedabad, Gujarat, India |
|
|
|
|
Corporate Office : |
A-155, Road No.4, Mahipalpur, |
|
Tel. No.: |
91-11-26782505 |
|
Fax No.: |
91-11-26782510 |
DIRECTORS
AS ON 16.09.2014
|
Name : |
Mr. Sanjiv Krishen |
|
Designation : |
Director |
|
Address : |
E-69, Vasant Marg, Vasant Vihar, |
|
Date of Birth/Age : |
24.03.1948 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
28.08.1996 |
|
DIN No : |
01356670 |
|
PAN No.: |
AASPK3393E |
|
|
|
|
Name : |
Mr. Vishal Sopory |
|
Designation : |
Director |
|
Address : |
1001, Tower 5, Uniworld Garden,, Sohna Road, Gurgaon – 122001, Haryana, India |
|
Date of Birth/Age : |
14.09.1977 |
|
Date of Appointment : |
17.12.2013 |
|
DIN No : |
05135147 |
|
|
|
|
Name : |
Mr. Neeraj Chauhan |
|
Designation : |
Director |
|
Address : |
G-603, Central Park - I, Sector 42, Gurgaon – 122009, Haryana, India |
|
Date of Birth/Age : |
20.12.1970 |
|
Date of Appointment : |
17.12.2013 |
|
DIN No : |
01107700 |
KEY EXECUTIVES
|
Name : |
Mr. Jitendra Joshi |
|
Designation : |
Account |
MAJOR SHAREHOLDERS
AS ON 16.09.2014
|
Names of Shareholders |
No. of Shares |
|
Sanjiv Kirshen |
413671 |
|
Inflexionpoint Technologies Pte. Limited |
3723085 |
|
Karan Bhatia |
1 |
|
Vishal Sopary |
1 |
|
Akash Deep Sharma |
1 |
|
Sanket Sinha |
1 |
|
M. R. Binu Chandran |
1 |
|
|
|
|
Total |
4136761 |
Equity Share Break up (Percentage of Total Equity)
AS ON 16.09.2014
|
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 |
90.00 |
|
Directors or relatives of Directors |
9.99 |
|
Other top fifty shareholders |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Distributor of IT Products. |
||||
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|
||||
|
Products : |
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||||
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||||
|
Agencies Held : |
·
HP ·
Dell ·
Lenovo ·
Samsung |
||||
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|
|
||||
|
Terms : |
|
||||
|
Selling : |
Cash and Cheque |
||||
|
|
|
||||
|
Purchasing : |
Cash and Cheque |
GENERAL INFORMATION
|
No. of Employees : |
500 (Approximately) |
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
|
Bankers : |
·
Citibank N.A., Jeevan Bharti Building, 4th
Floor, 124, Connaught Circus, Connaught Place, New Delhi – 110 001, India Tel
No.: 91-11-42545512 · The Hongkong and Shanghai Banking Corporation Limited, Birla Towers, 25, Barakhambha Road,, New Delhi - 110001, Delhi, India · Axis Bank Limited, 2nd Floor, Statesman House, 148, Barakhamba Road, New Delhi - 110001, Delhi, India · ING Vysya Bank Limited, Narian Manzil, Ground Floor, Shop No. G1 To G5, I Floor, Shop No.1001 To 1007,Barakhamba Road,, New Delhi - 110001, Delhi, India · The Ratnakar Bank Limited, Shahupuri, Kolhapur, Kolhapur - 416001, Maharashtra, India · The Royal Bank of Scotland N. V., Hansalya Building, 15 Barakhamba Road, New Delhi - 110001, Delhi, India · Barclays Bank Plc, Eros Corporate Towers, Nehru Place, New Delhi-19, New Delhi - 110019, Delhi, India ·
Indian Bank, Mehrauli Institutional Area, New
Delhi - 110016, Delhi, India |
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial
Institution : |
SBI Factors and Commercial Services Private Limited,
903-906, Raheja Chambers, 9th Floor, Free Press Journal Marg, Nariman Point,
Mumbai - 400021, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Jain Christopher Srikanth and Srikanth Chartered Accountants |
|
Address : |
#20, 2nd Floor, Uniworth Plaza, Sankey Road , Bangalore, Karnataka, India |
|
PAN No.: |
AADFJ0586H |
|
|
|
|
Associates over which Key Managerial Personnel or their relatives are
able to exercise significant influence : |
·
IRIS Unified Technologies Limited (Previously
Known as IRIS Unified Learnings Limited) ·
IRIS CDP Rental Private Limited ·
IRIS Global Services Private Limited ·
Integer Management Services Private Limited ·
Integer Infrastructure Private Limited ·
Impact IT Solutions Private Limited ·
Impact Infrastructure Private Limited |
CAPITAL STRUCTURE
AS ON 16.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4500000 |
Equity Shares |
Rs.10/- each |
Rs. 45.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4136761 |
Equity Shares |
Rs.10/- each |
Rs. 41.368
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 |
41.368 |
41.368 |
37.493 |
|
(b) Reserves & Surplus |
609.796 |
578.681 |
435.406 |
|
(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) |
651.164 |
620.049 |
472.899 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1.031 |
0.735 |
0.470 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
13.304 |
10.434 |
13.437 |
|
(d) long-term
provisions |
5.395 |
5.309 |
5.445 |
|
Total Non-current
Liabilities (3) |
19.730 |
16.478 |
19.352 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short
term borrowings |
815.675 |
625.868 |
744.558 |
|
(b) Trade
payables |
3761.613 |
1815.584 |
2132.206 |
|
(c) Other
current liabilities |
107.540 |
46.019 |
51.485 |
|
(d) Short-term
provisions |
185.777 |
167.634 |
157.908 |
|
Total Current
Liabilities (4) |
4870.605 |
2655.105 |
3086.157 |
|
|
|
|
|
|
TOTAL |
5541.499 |
3291.632 |
3578.408 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
11.817 |
8.866 |
28.522 |
|
(ii)
Intangible Assets |
0.055 |
0.208 |
0.453 |
|
(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 |
4.691 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
14.048 |
13.545 |
9.866 |
|
(d) Long-term Loan and Advances |
5.882 |
4.868 |
4.609 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
36.493 |
27.487 |
43.450 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1454.553
|
1002.259
|
654.971 |
|
(c) Trade
receivables |
3801.565
|
1882.412
|
2658.813 |
|
(d) Cash
and cash equivalents |
25.021
|
155.684
|
30.491 |
|
(e)
Short-term loans and advances |
223.867
|
223.790
|
190.683 |
|
(f) Other
current assets |
0.000
|
0.000
|
0.000 |
|
Total
Current Assets |
5505.006 |
3264.145 |
3534.958 |
|
|
|
|
|
|
TOTAL |
5541.499 |
3291.632 |
3578.408 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Operating revenue, net |
16211.787 |
10961.093 |
8113.432 |
|
|
|
Other Income |
28.201 |
82.762 |
113.325 |
|
|
|
TOTAL (A) |
16239.988 |
11043.855 |
8226.757 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of stock-in-trade |
16194.040 |
10950.858 |
7933.234 |
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(452.295) |
(347.288) |
(94.834) |
|
|
|
Employee benefit expense |
98.375 |
75.319 |
63.999 |
|
|
|
Other expenses |
93.328 |
103.738 |
105.007 |
|
|
|
TOTAL (B) |
15933.448 |
10782.627 |
8007.406 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
306.540 |
261.228 |
219.351 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST
FINANCIAL EXPENSES (D) |
158.122 |
154.320 |
119.366 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
148.418 |
106.908 |
99.985 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
2.639 |
2.556 |
5.869 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
145.779 |
104.352 |
94.116 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
50.717 |
34.702 |
31.850 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
95.062 |
69.650 |
62.266 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of goods |
|
10.347 |
179.202 |
|
|
|
Export of Services |
|
0.000 |
10.939 |
|
|
TOTAL EARNINGS |
50.622 |
10.347 |
190.141 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Purchase of traded goods |
NA |
503.228 |
625.823 |
|
|
TOTAL IMPORTS |
NA |
503.228 |
625.823 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
22.98 |
18.24 |
17.40 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
20000.000 |
The above information has been parted by Mr. Jitendra Joshi (Account)
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin PAT / Sales |
(%) |
0.59 |
0.64 |
0.77 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
1.89 |
2.38 |
2.70 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.64 |
3.18 |
2.64 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22 |
0.17 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.25 |
1.01 |
1.58 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.13 |
1.23 |
1.15 |
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 |
37.493 |
41.368 |
41.368 |
|
Reserves & Surplus |
435.406 |
578.681 |
609.796 |
|
Net
worth |
472.899 |
620.049 |
651.164 |
|
|
|
|
|
|
long-term borrowings |
0.470 |
0.735 |
1.031 |
|
Short term borrowings |
744.558 |
625.868 |
815.675 |
|
Total
borrowings |
745.028 |
626.603 |
816.706 |
|
Debt/Equity
ratio |
1.575 |
1.011 |
1.254 |
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 |
8113.432 |
10961.093 |
16211.787 |
|
|
|
35.098 |
47.903 |
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
|
8113.432 |
10961.093 |
16211.787 |
|
Profit |
62.266 |
69.650 |
95.062 |
|
|
0.77% |
0.64% |
0.59% |
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 |
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 |
---------- |
|
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 |
Yes |
FINANCIAL RESULTS /
OPERATIONS
They completed one more successful year with a record revenue of Rs 16240.000 millions and a profit before tax of Rs 145.800 millions.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10524121 |
28/08/2014 |
250,000,000.00 |
HDFC
BANK LIMITED |
HDFC
BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
C26010272 |
|
2 |
10460531 |
29/09/2013 |
1,687,500,000.00 |
THE
HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
BIRLA
TOWERS, 25, BARAKHAMBHA ROAD,, NEW DELHI, DELHI - 110001, INDIA |
B89667430 |
|
3 |
10428720 |
03/07/2014
* |
180,000,000.00 |
ING
VYSYA BANK LIMITED |
NARIAN
MANZIL, GROUND FLOOR, SHOP NO. G1 TO G5,, I FLOOR,SHOP NO.1001 TO
1007,BARAKHAMBA ROAD,, NEW DELHI, DELHI - 110001, INDIA |
C19960483 |
|
4 |
10352103 |
21/03/2012 |
100,000,000.00 |
THE
RATNAKAR BANK LIMITED |
SHAHUPURI,KOLHAPUR,,
KOLHAPUR, MAHARASHTRA - 416001, INDIA |
B38352951 |
|
5 |
10308044 |
02/07/2013
* |
100,000,000.00 |
AXIS
BANK LIMITED |
2ND
FLOOR, STATESMAN HOUSE, 148, BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001,
INDIA |
B82346842 |
|
6 |
10185476 |
21/10/2009 |
500,000,000.00 |
STATE
BANK OF INDIA |
INDUSTRIAL
FINANCE BRANCH, JAWAHAR VYAPAR BHAWAN, 14TH FLOOR, TOLSTOY MARG, NEW DELHI,
DELHI - 110001, INDIA |
A73411100 |
|
7 |
90057264 |
28/06/2012
* |
80,000,000.00 |
CITIBANK
N.A |
JEEVAN
BHARTI BUILDING, 4TH FLOOR, 124, CONNAUGHT CIRCUS, CONNAUGHT
PLACE, NEW DELHI, DELHI - 110001, INDIA |
B43571967 |
*Date of modification Charges
FIXED ASSETS:
· Furniture and fixtures
· Vehicles
· Motor vehicles
· Computer equipment’s
· Other equipment’s
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.39 |
|
|
1 |
Rs.98.00 |
|
Euro |
1 |
Rs.76.99 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
KRN |
|
|
|
|
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 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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.