MIRA INFORM REPORT
|
Report Date : |
13.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
ASHLYN CHEMUNNOOR INSTRUMENTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
PB – 102, TC-XXV/668/11, Regency Complex, Karikkath Lane, M G Road,
Thrissur – 680001, Kerala |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
21.03.2002 |
|
|
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|
Com. Reg. No.: |
09-015311 |
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Capital
Investment / Paid-up Capital : |
Rs. 11.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29294KL2002PTC015311 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
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Line of Business
: |
Trader of Electronic Weighing Machine, Currency Counting Machine and
Gold Testing Machine. |
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|
|
No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 180000 |
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|
|
|
Status : |
Satisfactory |
|
|
|
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. Financial position of the company seems to be decent. Trade relations are reported as 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 conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 willfully 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 arॖॗक़ख़ग़८ল°eed to cut costs, says a former employee.
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. Krishna |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-487-2320893 |
|
Date : |
10.11.2014 |
LOCATIONS
|
Registered Office : |
PB – 102, TC-XXV/668/11, Regency Complex, Karikkath Lane, M G Road,
Thrissur – 680001, Kerala, India |
|
Tel. No.: |
91-487-2320893 |
|
Mob. No.: |
91-9387112265 (Mr. Shreejit) |
|
Fax No.: |
91-487-2520951 |
|
E-Mail : |
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|
Website : |
|
|
|
|
|
Administrative Office 1 : |
Redlands House, Karikkath Lane, M.G. Road, Thrissur- 680001, Kerala,
India |
|
Tel. No.: |
91-487-23200893/3207252/3207337 |
|
Fax No.: |
91-487-2320951 |
|
E-Mail : |
|
|
|
|
|
Branches 1 : |
No. 10, Aziz Mulk, 1st Street Thousand Lights, Chennai - 600006,
Tamilnadu, India |
|
Tel. No.: |
91-44-28295002 |
|
|
|
|
Branches 2 : |
205, 2nd floor, Bhaweshwar Complex, Near Railway Station, Vidhya Vihar
(West) Mumbai - 400086, Maharashtra, India |
|
Tel No.: |
91-22-32942415 |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Sunitha Ashlyn |
|
Designation : |
Director |
|
Address : |
TC 17 1602, Chemunnoor, Kizhakkumpattukara, Thrissur – 680005, Kerala,
India |
|
Date of Birth/Age : |
16.05.1970 |
|
Date of Appointment : |
21.03.2002 |
|
DIN No.: |
00401520 |
|
|
|
|
Name : |
Mr. Ashlyn Antony |
|
Designation : |
Director |
|
Address : |
TC 17 1602, Chemunnoor, Kizhakkumpattukara, Thrissur – 680005, Kerala,
India |
|
Date of Birth/Age : |
23.11.1958 |
|
Date of Appointment : |
21.03.2002 |
|
DIN No.: |
00401497 |
|
|
|
|
Name : |
Mr. Chemunnoor Joseph Antony |
|
Designation : |
Director |
|
Address : |
TC 17 1602, Chemunnoor, Kizhakkumpattukara, Thrissur – 680005, Kerala,
India |
|
Date of Birth/Age : |
11.02.1924 |
|
Date of Appointment : |
21.03.2002 |
|
DIN No.: |
00401535 |
|
|
|
|
Name : |
Mr. Abhay Ashlyn |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Shreejit |
|
Designation : |
Sales Co-operative |
|
|
|
|
Name : |
Mr. Krishna |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Sunitha Ashlyn |
300 |
2.73 |
|
Ashlyn Antony |
10400 |
94.55 |
|
Chemunnoor Joseph Antony |
300 |
2.73 |
|
Total |
11000 |
100.00 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of
Holding |
|
Directors or relatives of directors |
100.00 |
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Electronic Weighing Machine, Currency Counting Machine and
Gold Testing Machine. |
|
|
|
|
Exports : |
-- |
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Imports : |
|
|
Products : |
Machinery |
|
Countries : |
· Germany · Korea · China |
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Terms : |
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Selling : |
Cash and Advance Payment |
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|
|
|
Purchasing : |
Cash and Advance Payment |
GENERAL INFORMATION
|
Suppliers : |
-- |
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Customers : |
Wholesalers and Retailers |
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No. of Employees : |
200 (Approximately) |
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Bankers : |
· Canara Bank, West Palace Road Branch, Thrissur - 680022, Kerala, India · Punjab National Bank · HDFC Bank Limited Contact Person: Mr. Ridesh Contact No.: 91-487-2330982 Report: No on responding properly. |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
|
|
|
Name : |
S G S and Company Chartered Accountants |
|
Address : |
X/37/129 Adam Bazaar Complex, Rice Bazaar, Thrissur – 680001, Kerala,
India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAEFG5922F |
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|
|
|
Related Parties
: |
· Redlands Machinery Private Limited · Mahalakshmi Industries · Redlands Ashlyn Motors PLC · Loretta Industries |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11000 |
Equity Shares |
Rs.1000/- each |
Rs. 11.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11000 |
Equity Shares |
Rs.1000/- each |
Rs. 11.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
11.000 |
0.900 |
|
(b) Reserves & Surplus |
|
34.652 |
27.998 |
|
(c) Money received against
share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
|
0.000 |
1.900 |
|
Total Shareholders’ Funds (1) + (2) |
|
45.652 |
30.798 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
|
21.011 |
6.733 |
|
(b) Deferred tax liabilities (Net) |
|
0.510 |
0.896 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
21.521 |
7.629 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
|
0.000 |
0.017 |
|
(b) Trade payables |
|
34.424 |
32.005 |
|
(c) Other current
liabilities |
|
19.231 |
8.265 |
|
(d) Short-term
provisions |
|
3.499 |
0.000 |
|
Total Current
Liabilities (4) |
|
57.154 |
40.287 |
|
|
|
|
|
|
TOTAL |
|
124.327 |
78.714 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
20.362 |
24.466 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(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 |
|
0.000 |
0.000 |
|
(e) Other
Non-current assets |
|
0.280 |
0.246 |
|
Total Non-Current
Assets |
|
20.642 |
24.712 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
37.760 |
30.674 |
|
(c) Trade receivables |
|
53.228 |
12.519 |
|
(d) Cash and cash
equivalents |
|
4.300 |
7.082 |
|
(e) Short-term loans
and advances |
|
4.325 |
2.869 |
|
(f) Other current
assets |
|
4.072 |
0.858 |
|
Total Current Assets |
|
103.685 |
54.002 |
|
|
|
|
|
|
TOTAL |
|
124.327 |
78.714 |
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.900 |
|
|
2] Share Application Money |
|
|
1.900 |
|
|
3] Reserves & Surplus |
|
|
21.112 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
23.912 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
3.760 |
|
|
2] Unsecured Loans |
|
|
0.424 |
|
|
TOTAL BORROWING |
|
|
4.184 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.827 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
28.923 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
15.031 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
OTHER NON CURRENT ASSETS |
|
|
0.243 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
24.201 |
|
|
Sundry Debtors |
|
|
12.520 |
|
|
Cash & Bank Balances |
|
|
1.779 |
|
|
Other Current Assets |
|
|
1.046 |
|
|
Loans & Advances |
|
|
2.107 |
|
Total
Current Assets |
|
|
41.653 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
24.609 |
|
|
Other Current Liabilities |
|
|
3.017 |
|
|
Provisions |
|
|
0.378 |
|
Total
Current Liabilities |
|
|
28.004 |
|
|
Net Current Assets |
|
|
13.649 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
28.923 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
289.423 |
184.197 |
123.000 |
|
|
|
Other Income |
0.802 |
0.792 |
21.400 |
|
|
|
TOTAL |
290.225 |
184.989 |
144.400 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of Stock-in-Trade |
179.019 |
83.557 |
|
|
|
|
Changes in inventories |
(7.085) |
(6.474) |
|
|
|
|
Employees benefits expense |
36.607 |
31.105 |
|
|
|
|
Other expenses |
65.390 |
62.195 |
|
|
|
|
TOTAL |
280.458 |
174.933 |
136.415 (Including
Finance and Depreciation expenses) |
|
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C) |
16.294 |
14.606 |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
1.216 |
0.723 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION
(C-D) (E) |
15.078 |
13.883 |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
5.311 |
3.827 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
9.767 |
10.056 |
7.985 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
3.112 |
3.169 |
2.546 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
6.655 |
6.887 |
5.439 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
USD
428855 |
USD
226400 |
0.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
USD
468979 |
$
779158 |
$
264929 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.97 |
7.65 |
NA |
|
|
Particulars |
31.03.2014 |
|
|
|
|
Sales Turnover (Approximately) |
250.000 |
|
|
|
The above information has been parted by Mr. Krishna (Accounts Manager).
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
Net Profit Margin (PAT / Sales) |
(%) |
2.30 |
3.74 |
3.77 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
5.63 |
7.93 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.86 |
12.78 |
14.09 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21 |
0.33 |
0.33 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.46 |
0.22 |
0.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.81 |
1.34 |
1.49 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
0.900 |
11.000 |
|
Reserves & Surplus |
27.998 |
34.652 |
|
Share Application money
pending allotment |
1.900 |
0.000 |
|
Net
worth |
30.798 |
45.652 |
|
|
|
|
|
long-term borrowings |
6.733 |
21.011 |
|
Short term borrowings |
0.017 |
0.000 |
|
Total
borrowings |
6.750 |
21.011 |
|
Debt/Equity
ratio |
0.219 |
0.460 |
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 |
144.400 |
184.197 |
289.423 |
|
|
|
27.560 |
57.127 |
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 |
144.400 |
184.197 |
289.423 |
|
Profit |
5.439 |
6.887 |
6.655 |
|
|
3.77% |
3.74% |
2.30% |
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 four years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
Yes |
|
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) |
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 |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
DIAMOND INDUSTRY – INDIA
-
From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of
diamonds but history says that in the remote past, diamonds were mined only in
India. Diamond production in India can be traced back to almost 8th
Century B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
-
The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
-
Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
-
Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
-
Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
-
Excerpts from Times of India dated 30th
October 2010 is as under –
-
Gem & Jewellery Export Promotion Council in its
statistical data has shown the export of polished diamonds to have increase by
28 % in February 2013. Compared to $ 1.4 bn worth of polished diamond export in
February, 2012, India exported $ 1.84 billion worth of polished diamonds in February
2013. A senior executive of GJEPC said, “Export of cut and polished diamonds
started falling month-wise after the imposition of 2 % of import duty on the
polished diamonds. But February, 2013 has given a new ray of hope to the
industry as the export of polished diamonds has actually increased by 28 %. It
means the industry is on the track of recovery and round tripping of
diamonds has stopped completely.” Demand has started coming from the US, the
UK, Japan and China. India’s polished diamond export is expected to cross $ 21
bn in 2013-14.
-
The banking sector has started exercising restraint
while following prudent risk management norms when lending money to gems and
jewellery sector. This follows the implementation of Basel III accord – a
global voluntary regulatory standard on bank capital adequacy, stress testing
and market liquidity.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10408000 |
01/02/2013 |
18,500,000.00 |
CANARA BANK |
WEST PALACE ROAD, THRISSUR, KERALA - 680022, INDIA |
B69616837 |
|
2 |
10175080 |
25/08/2009 |
485,000.00 |
CANARA BANK |
WEST PALACE ROAD BRANCH, THRISSUR, THRISSUR, KERALA - 680022, INDIA |
A69624146 |
|
3 |
10142860 |
10/02/2009 |
1,200,000.00 |
CANARA BANK |
WEST PALACE ROAD BRANCH, THRISSUR, THRISSUR, KERALA - 680001, INDIA |
A56988231 |
|
4 |
10123980 |
10/09/2008 |
1,619,000.00 |
CANARA BANK |
WEST PALACE ROAD BRANCH, THRISSUR, THRISSUR, KERALA - 680020, INDIA |
A46996211 |
|
5 |
90019732 |
21/08/2009 * |
7,000,000.00 |
CANARA BANK |
WEST PALACE ROAD BRANCH, THRISSUR, THRISSUR, KERALA - 680022, INDIA |
A69624393 |
* Date of charge modification
CHANGE OF ADDRESS
The registered office of the company has been shifted from TC - 6/ 2211, Menachery Building, Palakkal Angadi, Thrissur Kerala,
India to present address w.e.f. 20.02.2008
FIXED ASSETS:
· Air Conditioner
· Bicycle
· Camera
· CCTV
· Computer
· Printer
· Dell Projector
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. 61.48 |
|
|
1 |
Rs. 97.92 |
|
Euro |
1 |
Rs. 76.79 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
|
46 |
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.