MIRA INFORM REPORT
|
Report Date : |
12.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
SAISONS TECHNOCOM PRIVATE LIMITED (w.e.f. 04.08.2010) |
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Formerly Known
As : |
SAISONS COMMUNICATIONS PRIVATE LIMITED |
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Registered
Office : |
Flat No.1501, 15th Floor, Dhukka Chambers, CTS No 337-A,
Malad East, Mumbai – 400097, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
23.09.1999 |
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Com. Reg. No.: |
11-121908 |
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Capital
Investment / Paid-up Capital : |
Rs.44.800 Millions |
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CIN No.: [Company Identification
No.] |
U32200MH1999PTC121908 |
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TIN No.: |
Not Available |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of electrical panels, furniture, mobile towers, mobile
equipment, petrol pump dispensers etc.
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|
No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Management has failed to file the financial statements of FY 2013 as
well as FY 2014, with the statutory authorities. The company possesses a moderate financial profile marked by stretched
liquidity profile marked by working capital intensive nature of operations,
high gearing and low debt coverage indicators. As per indirect source, we found that the management has witnessed a
significant growth in its revenue as well as maintained a minimal net profitability
during FY 2013. However, trade relations seems to be fair. Business is active. Payment
terms are reported as slow but correct. In view of experienced promoters and established client relationship, the
company can be considered for business dealings with 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 – 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 |
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Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
Verdict
Implications: Apex court order may alter coal import dynamics. Traders go
slowly 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 = BB- |
|
Rating Explanation |
Moderate risk of default regarding timely
servicing of financial obligations |
|
Date |
13.06.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A4 |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk |
|
Date |
13.06.2013 |
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. Siddharth Chimanlal Shah |
|
Designation : |
Director |
|
Contact No.: |
91-22-66989999 |
|
Date : |
10.11.2014 |
LOCATIONS
|
Registered Office : |
Flat No.1501, 15th Floor, Dhukka Chambers, CTS No 337-A,
Malad East, Mumbai – 400097, Maharashtra, India |
|
Tel. No.: |
91-22-66989999 |
|
Fax No.: |
91-22-27782021 / 28839977 |
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E-Mail : |
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|
Website : |
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Area : |
1500 Sq. Ft. |
|
Location : |
Rented |
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|
|
Factory : |
Arham Lagiparc, Building No. B
7, Unit No., 1,2 And 3, Mumbai Nashik By-Pass Road, Village Valshind, Taluka Bhivandi,
District Thane – 421302, Maharashtra, India |
|
Area : |
30000 Sq. Ft. |
|
Location : |
Rented |
DIRECTORS
As on 31.03.2010
|
Name : |
Mr. Siddharth Chimanlal Shah |
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|
Designation : |
Director |
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|
Address : |
5, Kalyani, N.S. 4th Road, JVPD Scheme, Vile Parle (West), Mumbai -
400056, Maharashtra, India |
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Date of Birth/Age : |
24.01.1985 |
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Date of Appointment : |
23.09.1999 |
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DIN No.: |
01343122 |
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Other Directorship:
|
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|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Ankit Vinay Shah |
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|
Designation : |
Director |
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|
Address : |
Flat No 6 Kalyani Building 1st Floor, NS 4th Road JVPD Scheme Vile
Parle (West), Mumbai - 400056, Maharashtra, India |
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Date of Birth/Age : |
09.08.1985 |
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Date of Appointment : |
18.01.2006 |
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DIN No.: |
02495202 |
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Other Directorship:
|
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MAJOR SHAREHOLDERS
As on 31.03.2010
|
Names of Shareholders |
|
No. of Shares |
|
Shah Chimanlal Siddharth |
|
1920000 |
|
Anhita Financial Private Limited, India |
|
375000 |
|
Shah Bharat Deepen |
|
150000 |
|
Shah Vinay Ankit |
|
150000 |
|
Fish Capital Service Private Limited, India |
|
200000 |
|
Accent Exim Private Limited, India |
|
205000 |
|
Total |
|
3000000 |
As on 01.03.2012
|
Names of Allottees |
|
No. of Shares |
|
Shah Chimanlal Siddharth |
|
1380000 |
|
Ankit Vinay Shah |
|
100000 |
|
Total |
|
1480000 |
Equity Share Break up (Percentage of Total Equity)
As on 31.03.2010
|
Category |
Percentage |
|
Bodies corporate |
26.00 |
|
Directors or relatives of Directors |
74.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of electrical panels, furniture, mobile towers, mobile
equipment, petrol pump dispensers etc.
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
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Countries : |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
L and T Limited |
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No. of Employees : |
50 (Approximately) |
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Bankers : |
Contact No.: 91-22-22656428 Contact Person: Mr. Ashok Bhan (Assistant General Manager) Remark: Banker gave us positive feedback, as claimed by Mr. Ashok Bhan the subject having satisfactory track record from bank transaction. |
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Facilities : |
Notes: SHORT TERM BORROWINGS Secured by
hypothecation of stock and debtors, plant and machinery, properties and
further by joint and several guarantee of directors. |
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|
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|
Banking
Relations : |
-- |
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|
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Auditors : |
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|
Name : |
Nayak and Rane Chartered Accountants |
|
Address : |
501, Siddhivinayak Annexe, "C" Wing, S. J. Marg, Lower Patel
(West), Mumbai – 400013, Maharashtra, India
|
|
PAN No.: |
AAEPN0009Q |
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|
|
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Memberships : |
-- |
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Collaborators : |
-- |
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Sister Concern : |
Not Divulged |
CAPITAL STRUCTURE
As on 31.03.2012
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 |
|
|
|
|
|
|
4480000 |
Equity Shares |
Rs.10/- each |
Rs.44.800 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
44.800 |
30.000 |
|
(b) Reserves & Surplus |
|
63.474 |
49.723 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
108.274 |
79.723 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
34.334 |
18.934 |
|
(b) Deferred tax liabilities (Net) |
|
6.993 |
6.057 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
41.327 |
24.991 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
151.653 |
78.728 |
|
(b) Trade
payables |
|
34.380 |
62.925 |
|
(c) Other
current liabilities |
|
37.284 |
34.807 |
|
(d) Short-term
provisions |
|
5.587 |
3.034 |
|
Total Current
Liabilities (4) |
|
228.904 |
179.494 |
|
|
|
|
|
|
TOTAL |
|
378.505 |
284.208 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
58.130 |
60.436 |
|
(ii)
Intangible Assets |
|
10.497 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.137 |
0.142 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
9.241 |
11.898 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
78.005 |
72.476 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
113.018 |
82.977 |
|
(c) Trade
receivables |
|
161.305 |
107.036 |
|
(d) Cash
and cash equivalents |
|
20.986 |
18.982 |
|
(e)
Short-term loans and advances |
|
4.121 |
2.461 |
|
(f) Other
current assets |
|
1.070 |
0.276 |
|
Total
Current Assets |
|
300.500 |
211.732 |
|
|
|
|
|
|
TOTAL |
|
378.505 |
284.208 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
30.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
40.252 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
70.252 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
109.081 |
|
|
2] Unsecured Loans |
|
|
26.536 |
|
|
TOTAL BORROWING |
|
|
135.617 |
|
|
DEFERRED TAX LIABILITIES |
|
|
4.865 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
210.734 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
57.646 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
|
|
|
Sundry Debtors |
|
|
|
|
|
Cash & Bank Balances |
|
|
|
|
|
Other Current Assets |
|
|
|
|
|
Loans & Advances |
|
|
|
|
Total
Current Assets |
|
|
226.169 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
|
Other Current Liabilities |
|
|
|
|
|
Provisions |
|
|
|
|
Total
Current Liabilities |
|
|
73.265 |
|
|
Net Current Assets |
|
|
152.904 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.184 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
210.734 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
754.141 |
500.952 |
432.109 |
|
|
|
|
Other Income |
7.792 |
12.450 |
2.670 |
|
|
|
|
TOTAL (A) |
761.933 |
513.402 |
434.779 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
332.036 |
235.253 |
|
|
|
|
|
Purchase of Stock-in-trade |
326.391 |
194.602 |
|
|
|
|
|
Software development charges |
4.298 |
4.926 |
|
|
|
|
|
Changes in inventories |
2.293 |
8.069 |
|
|
|
|
|
Employee Benefits Expenses |
12.624 |
10.890 |
|
|
|
|
|
Other Expenses |
22.310 |
17.045 |
|
|
|
|
|
TOTAL (B) |
699.952 |
470.785 |
404.092 |
|
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
61.981 |
42.617 |
30.687 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
35.600 |
25.438 |
14.245 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
26.381 |
17.179 |
16.442 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
6.107 |
3.483 |
2.587 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
20.274 |
13.696 |
13.855 |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
6.523 |
4.226 |
4.941 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
13.751 |
9.470 |
8.914 |
||
|
|
|
|
|
|
||
|
Less |
EXCESS
PROVISION |
0.000 |
0.000 |
0.118 |
||
|
|
|
|
|
|
||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
49.722 |
40.252 |
31.456 |
||
|
|
|
|
|
|
||
|
|
BALANCE CARRIED
TO THE B/S |
63.473 |
49.722 |
40.252 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
Export Earnings |
155.488 |
47.672 |
NA |
|
|
|
TOTAL EARNINGS |
155.488 |
47.672 |
NA |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Capital Goods |
1.083 |
0.217 |
NA |
|
|
|
TOTAL IMPORTS |
1.083 |
0.217 |
NA |
||
|
|
|
|
|
|
||
|
|
Earnings /
(Loss) Per Share (Rs.) |
3.07 |
3.16 |
NA |
||
|
Particulars |
|
31.03.2014 |
31.03.2013 |
|
Sales Turnover (Approximately) |
|
1420.000 |
1200.000 |
The above information has been parted by Siddharth Chimanlal Shah
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Net Profit Margin (PAT/Sales) |
(%) |
1.82 |
1.89 |
2.06 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
8.22 |
8.51 |
7.10 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.36 |
4.82 |
4.88 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19 |
0.17 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.72 |
1.23 |
1.93 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.31 |
1.18 |
3.09 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
30.000 |
30.000 |
44.800 |
|
Reserves & Surplus |
40.252 |
49.723 |
63.474 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
70.252 |
79.723 |
108.274 |
|
|
|
|
|
|
Total
borrowings |
135.617 |
97.662 |
185.987 |
|
Debt/Equity
ratio |
1.930 |
1.225 |
1.718 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
432.109 |
500.952 |
754.141 |
|
|
|
15.932 |
50.542 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
432.109 |
500.952 |
754.141 |
|
Profit |
8.914 |
9.470 |
13.751 |
|
|
2.06% |
1.89% |
1.82% |
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 |
Yes |
|
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
five 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) |
Yes |
|
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 |
Yes |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
No |
|
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 |
UNSECURED LOANS:
|
Particulars |
31.03.2012 Rs. In Millions |
31.03.2011 Rs. In Millions |
|
LONG TERM BORROWINGS |
|
|
|
From directors
and relatives |
3.241 |
0.883 |
|
Other |
5.309 |
3.085 |
|
Total |
8.550 |
3.968 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10357167 |
04/05/2012 |
25,000,000.00 |
Tata Capital Financial Services Limited |
One Forbes,, Dr. V.
B. Gandhi Marg, Fort, Mumbai, |
B40146698 |
|
2 |
10336915 |
28/05/2014 * |
344,900,000.00 |
Dena Bank |
Share Bazar Branch, Dena Bank House, 31/33, Ambalal Doshi Marg Mumbai, Maharashtra - 400023, India |
C06957765 |
|
3 |
10249495 |
19/10/2010 |
50,000,000.00 |
Development Credit Bank Limited |
301, Delta Plaza, 414, Veer Savarkar Marg, Prabhadevi, Mumbai, Maharashtra - 400025, India |
A97843981 |
|
4 |
80063762 |
08/06/2004 |
40,000,000.00 |
ICICI Bank Limited |
Landmark, Race Course Circle, Vadodara, Gujarat - 390227, India |
- |
|
5 |
90145218 |
07/07/2003 * |
5,000,000.00 |
The Karnataka Bank Limited |
Overseas Branch, Mumbai, Maharashtra, India |
- |
|
6 |
90143131 |
12/10/2002 * |
5,000,000.00 |
The Karnataka Bank Limited |
Overseas Branch, Mumbai, Maharashtra, India |
- |
|
7 |
90142821 |
29/03/2000 |
2,500,000.00 |
The Karnataka Bank Limited |
Overseas Branch, Mumbai, Maharashtra, India |
- |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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 records 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.61.55 |
|
|
1 |
Rs.97.53 |
|
Euro |
1 |
Rs.76.48 |
INFORMATION DETAILS
|
Information Gathered
by : |
HNA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
30 |
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.