MIRA INFORM REPORT
|
Report Date : |
11.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
TRACK PARTS OF INDIA LIMITED |
|
|
|
|
Registered
Office : |
4, Industrial Areagovind Nagar, Kanpur - 208006, Uttar
Pradesh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
19.06.1969 |
|
|
|
|
Com. Reg. No.: |
20-003261 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 21.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L74999UP1969PLC003261 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT6866A |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
To manufacturer, produce, process, assemble, use. Lease, buy, sell,
import, export and otherwise deal to traffic in tractors and tractor spare
part of all types, earth moving implements etc. (Closed down) |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not recommended |
|
Status : |
Closed Down |
|
|
|
|
Payment Behaviour : |
-- |
|
|
|
|
Litigation : |
-- |
|
|
|
|
Comments : |
As confirmed by Mr. BC Jain Auditor that “TRACKPARTS OF INDIA LIMITED”
is not into operation since last 10 year and they have further information on
the subject company. The subject cannot be considered for business dealing. |
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
Not Available
RBI DEFAULTERS’ LIST STATUS
Subject’s name has been found enlisted as a
defaulter in the publicly available RBI Defaulters’ list and the details of the
same are as under :
Suit-filed accounts of Rs. 10.000 Millions and
above
|
Bank |
Branch |
Quarter |
D&B D-U-N-S®
Number |
Borrower Name |
OutStanding Amount (Rs. in Millions) |
|
KOTAK MAHINDRA BANK |
MUMBAI |
31-03-08 |
|
TRACKPARTS OF INDIA LIMITED |
62.700 |
|
KOTAK MAHINDRA BANK |
MUMBAI |
30-06-08 |
|
TRACKPARTS OF INDIA LIMITED |
62.700 |
|
KOTAK MAHINDRA BANK |
MUMBAI |
31-03-09 |
|
TRACKPARTS OF INDIA LIMITED |
62.700 |
|
KOTAK MAHINDRA BANK |
MUMBAI |
31-03-10 |
|
TRACKPARTS OF INDIA LIMITED |
62.700 |
|
KOTAK MAHINDRA BANK |
MUMBAI |
30-06-10 |
|
TRACKPARTS OF INDIA LIMITED |
62.700 |
|
KOTAK MAHINDRA BANK |
MUMBAI |
30-09-10 |
|
TRACKPARTS OF INDIA LIMITED |
62.700 |
|
KOTAK MAHINDRA BANK |
MUMBAI |
31-12-10 |
|
TRACKPARTS OF INDIA LIMITED |
62.700 |
|
KOTAK MAHINDRA BANK |
MUMBAI |
31-03-12 |
|
TRACKPARTS OF INDIA LIMITED |
62.700 |
|
KOTAK MAHINDRA BANK |
MUMBAI |
30-06-12 |
|
TRACKPARTS OF INDIA LIMITED |
62.700 |
|
KOTAK MAHINDRA BANK |
MUMBAI |
30-09-12 |
|
TRACKPARTS OF INDIA LIMITED |
62.700 |
|
KOTAK MAHINDRA BANK |
MUMBAI |
31-12-12 |
|
TRACKPARTS OF INDIA LIMITED |
62.700 |
|
KOTAK MAHINDRA BANK |
MUMBAI |
31-03-13 |
|
TRACKPARTS OF INDIA LIMITED |
62.700 |
|
KOTAK MAHINDRA BANK |
MUMBAI |
30-06-13 |
|
TRACKPARTS OF INDIA LIMITED |
62.700 |
|
KOTAK MAHINDRA BANK |
MUMBAI |
30-09-13 |
|
TRACKPARTS OF INDIA LIMITED |
62.700 |
|
KOTAK MAHINDRA BANK |
MUMBAI |
31-12-13 |
|
TRACKPARTS OF INDIA LIMITED |
62.700 |
|
STATE BANK OF INDIA |
INDUSTRIAL FINANCE,KANPUR |
31-03-02 |
|
TRACKPARTS OF INDIA LIMITED |
67.600 |
|
STATE BANK OF INDIA |
INDUSTRIAL FINANCE,KANPUR |
30-06-02 |
|
TRACKPARTS OF INDIA LIMITED |
67.600 |
|
STATE BANK OF INDIA |
INDUSTRIAL FINANCE,KANPUR |
30-09-02 |
|
TRACKPARTS OF INDIA LIMITED |
67.600 |
|
STATE BANK OF INDIA |
INDUSTRIAL FINANCE,KANPUR |
31-12-02 |
|
TRACKPARTS OF INDIA LIMITED |
67.600 |
Suit-filed accounts (Willful Defaulters) of Rs.
2.500 Milions and above
|
Bank |
Branch |
Quarter |
D&B D-U-N-S®
Number |
Borrower Name |
OutStanding Amount (Rs. in Millions) |
|
KOTAK MAHINDRA BANK |
MUMBAI |
30-09-07 |
|
TRACKPARTS OF INDIA LIMITED |
627.00 |
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 DECLINED BY
|
Name : |
Mr. BC Jain |
|
Designation : |
Auditor |
|
Contact No.: |
91-512-2311380 |
|
Date : |
08.11.2014 |
LOCATIONS
|
Registered Office : |
4, Industrial Areagovind Nagar, Kanpur - 208006, Uttar
Pradesh, India |
|
Tel. No.: |
91-251-295038 / 295039 |
|
Fax No.: |
91-512-295808 |
|
E-Mail : |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Dilip Bhargava |
|
Designation : |
Director |
|
Address : |
3/11, Vishnupuri P.O. Nawabganj, Kanpur – 208002, Uttar Pradesh, India
|
|
Date of Birth/Age : |
23.01.1953 |
|
Qualification : |
FCA |
|
Date of Appointment : |
20.01.2000 |
|
DIN No.: |
00464811 |
|
|
|
|
Name : |
Mr. Deepak Bhargava |
|
Designation : |
Director |
|
Address : |
3/11, Vishnupuri P.O. Nawabganj, Kanpur – 208002, Uttar Pradesh, India |
|
Date of Birth/Age : |
16.06.1958 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
20.01.2000 |
|
DIN No.: |
00256524 |
|
PAN No.: |
ACBPB9645D |
|
|
|
|
Name : |
Mr. Sameer Bhargava |
|
Designation : |
Director |
|
Address : |
3/11, Vishnupuri P.O. Nawabganj, Kanpur – 208002, Uttar Pradesh, India |
|
Date of Birth/Age : |
25.04.1967 |
|
Qualification : |
Graduate Engg. |
|
Date of Appointment : |
20.01.2000 |
|
DIN No.: |
00283456 |
KEY EXECUTIVES
|
Name : |
Mr. BC Jain |
|
Designation : |
Auditor |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
SHAREHOLDING DETAILS FILE ATTACHED
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
36.00 |
|
Directors or relatives of Directors |
44.46 |
|
Other top fifty shareholders |
5.47 |
|
Others |
5.63 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
To manufacturer, produce, process, assemble, use. Lease, buy, sell, import,
export and otherwise deal to traffic in tractors and tractor spare part of
all types, earth moving implements etc. (Closed down) |
|
|
|
|
Products : |
Not Available |
|
|
|
|
Brand Names : |
-- |
|
|
|
|
Agencies Held : |
-- |
|
|
|
|
Exports : |
Not Available |
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|
|
|
Imports : |
Not Available |
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|
|
|
Terms : |
|
|
Selling : |
Not Available |
|
|
|
|
Purchasing : |
Not Available |
GENERAL INFORMATION
|
Suppliers : |
Not Available |
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|
|||||||||||||||
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Customers : |
Not Available |
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|||||||||||||||
|
No. of Employees : |
Information declined by the management |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
The Cosmos Co-Operative Bank Limited, 269/270; Shaniwar
Peth, Pune - 411030, Maharashtra, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
K.K. Nigam and Company Chartered Accountants |
|
Address : |
Flat No. 5A,II Floor, Deal House, 34 Lalbagh |
|
PAN No.: |
AAFFK0996E |
|
|
|
|
Associates/Subsidiaries : |
NA |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,000,000 |
Equity Shares |
Rs.10/- each |
Rs.40.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,100,000 |
Equity Shares |
Rs.10/- each |
Rs.21.000 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 |
21.000 |
21.000 |
21.000 |
|
(b) Reserves & Surplus |
(2601.660) |
(2189.833) |
(1851.128) |
|
(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) |
(2580.660) |
(2168.833) |
(1830.128) |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2717.899 |
2306.448 |
1968.868 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
67.832 |
67.541 |
46.707 |
|
(d) long-term
provisions |
0.581 |
0.581 |
0.581 |
|
Total Non-current
Liabilities (3) |
2786.312 |
2374.570 |
2016.156 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
38.844 |
38.868 |
38.818 |
|
(c) Other
current liabilities |
37.284 |
39.492 |
63.805 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
76.128 |
78.360 |
102.623 |
|
|
|
|
|
|
TOTAL |
281.780 |
284.097 |
288.651 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
182.328 |
182.328 |
182.328 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.360 |
0.360 |
0.360 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
48.922 |
48.922 |
48.922 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
20.898 |
23.211 |
27.764 |
|
(e) Other
Non-current assets |
4.189 |
4.189 |
4.189 |
|
Total Non-Current
Assets |
256.697 |
259.010 |
263.563 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
19.462 |
19.462 |
19.462 |
|
(c) Trade
receivables |
4.811 |
4.811 |
4.811 |
|
(d) Cash
and cash equivalents |
0.810 |
0.814 |
0.815 |
|
(e)
Short-term loans and advances |
0.000 |
0.000 |
0.000 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
25.083 |
25.087 |
25.088 |
|
|
|
|
|
|
TOTAL |
281.780 |
284.097 |
288.651 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
0.000 |
0.000 |
|
|
|
Other Income |
|
0.000 |
0.000 |
|
|
|
TOTAL (A) |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Other expenses |
|
0.560 |
0.425 |
|
|
|
TOTAL (B) |
|
0.560 |
0.425 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
(0.560) |
(0.425) |
|
|
|
|
NA |
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
338.145 |
277.902 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
(338.705) |
(278.327) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
|
(338.705) |
(278.327) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(411.827) |
(338.705) |
(278.327) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(196.11) |
(161.29) |
(132.54) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
\ |
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
(144.24) |
(116.28) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
0.16 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
(1.05) |
(1.06) |
(1.08) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.33 |
0.32 |
0.24 |
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 |
21.000 |
21.000 |
21.000 |
|
Reserves & Surplus |
(1851.128) |
(2189.833) |
(2601.660) |
|
Net worth |
(1830.128) |
(2168.833) |
(2580.660) |
|
|
|
|
|
|
long-term borrowings |
1968.868 |
2306.448 |
2717.899 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
1968.868 |
2306.448 |
2717.899 |
|
Debt/Equity ratio |
(1.076) |
(1.063) |
(1.053) |
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 |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
No |
|
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 |
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
OPERATIONS:
The total income of the Company amounted to Rs. NIL as against Rs. NIL. The Loss incurred was at Rs. 411.800 Millions during the year as against Loss of Rs. 338.700 Millions incurred during the previous year. All units of the Company remains closed as reported earlier.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90274543 |
11/07/1995 |
120,500,000.00 |
STATE BANK OF INDIA |
KANPUR MAIN BRANCH, M. G. ROAD, KANPUR, UTTAR PRADESH, INDIA |
- |
|
2 |
90274508 |
24/04/1995 |
16,200,000.00 |
CORPORATION BANK |
INDUSTRIAL FINANCE BRANCH, BHARAT HOUSE; GROUND F |
- |
|
3 |
90274455 |
29/01/1997 * |
35,000,000.00 |
THE INDUSTRIAL CREDIT AND INVESTMENT CORPN. OF IND |
163; BACKBAY RECLAMATION, MUMBAI, MAHARASHTRA - 400020, INDIA |
- |
|
4 |
90274375 |
29/01/1997 * |
25,000,000.00 |
THE INDUSTRIAL CREDIT AND INVESTMENT CORPN. OF IND |
163; BACKBAY RECLAMATION, MUMBAI, MAHARASHTRA - 400020, INDIA |
- |
|
5 |
90273820 |
06/02/1995 * |
2,100,000.00 |
BANK OF BARODA |
FAZALGANJ BRANCH, KANPUR, UTTAR PRADESH, INDIA |
- |
|
6 |
90278078 |
13/02/1995 * |
68,900,000.00 |
STATE BANK OF INDIA |
KANPUR MAIN BRANCH, M. G. ROAD, KANPUR, UTTAR PRADESH, INDIA |
- |
* Date of charge modification
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- 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.61.45 |
|
|
1 |
Rs.97.75 |
|
Euro |
1 |
Rs.76.67 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NTH |
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.