MIRA INFORM REPORT
|
Report Date : |
10.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
AQUATIC REMEDIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
218/219, |
|
|
|
|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
04.03.1996 |
|
|
|
|
Com. Reg. No.: |
11-097828 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.96.700 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24230MH1996PTC097828 |
|
|
|
|
TIN No.: |
Not Available |
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|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA11886A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCA3876G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader, Exporter and Importer of Pharmaceutical Raw Materials and Bulk
Active Ingredients. |
|
|
|
|
No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having satisfactory track. Trade relations are fair. Business is active. Payment terms are reported
as slow but 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.
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
NOT AVAILABLE
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 DENIED BY
|
Name : |
Mr. Vishal |
|
Designation : |
Senior Accountant |
|
Contact No.: |
91-22-67255555 |
|
Date : |
10.11.2014 |
LOCATIONS
|
Registered Office : |
218/219, |
|
Tel. No.: |
91-22-67255555 (5 Lines) / 55958111 |
|
Mobile No.: |
91-9821262142 (Mr. Bharat N Mehta) |
|
Fax No.: |
91-22-67991766 |
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E-Mail : |
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|
Website : |
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|
Area : |
1000 Sq. Ft. Super build up |
|
Location : |
Owned |
|
|
|
|
Corporate Office / Branch Office: |
36, Amul Estate, Near Railway Crossing, Sarkhej, Ahmedabad – 382210,
Gujarat, India |
|
Area : |
500 Sq. Ft. |
|
Location : |
Owned |
|
|
|
|
Warehouse : |
Bhiwandi Sobhagya Ware Housing Complex, Godown No. 108, 109, 110,
Rahanal Village, Bhiwandi,
Thane – 421302, Maharashtra India |
|
Location : |
Owned |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Bharat Nyalchand Mehta |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
255/11, Prity, R.N.N,
Road, Gathkopar (East), Mumbai - 400077, Maharashtra, India |
|
Date of Birth/Age : |
24.10.1960 |
|
Qualification : |
B Pharm |
|
Date of Appointment : |
04.03.1996 |
|
DIN No : |
00580554 |
|
|
|
|
Name : |
Mr. Hitendra Nyalchand Mehta |
|
Designation : |
Director |
|
Address : |
255/11, Prity,
R.N.N, Road, Gathkopar (East), Mumbai - 400077, Maharashtra, India |
|
Date of Birth/Age : |
09.09.1969 |
|
Qualification : |
BE |
|
Date of Appointment : |
04.03.1996 |
|
DIN No : |
00580562 |
|
|
|
|
Name : |
Mr. Kirti Bhogilal Mehta |
|
Designation : |
Director |
|
Address : |
255/11, Prity,
R.N.N, Road, Gathkopar (East), Mumbai - 400077, Maharashtra, India |
|
Date of Birth/Age : |
31.12.1970 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
04.03.1996 |
|
DIN No : |
00580572 |
|
|
|
|
Name : |
Mr. Darshan Bhogilal Mehta |
|
Designation : |
Director |
|
Address : |
255/11, Prity,
R.N.N, Road, Gathkopar (East), Mumbai - 400077, Maharashtra, India |
|
Date of Birth/Age : |
07.07.1977 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
04.03.1996 |
|
DIN No : |
00580585 |
|
|
|
|
Name : |
Mr. Hemant Bhogilal Mehta |
|
Designation : |
Director |
|
Address : |
255/11, Prity,
R.N.N, Road, Gathkopar (East), Mumbai - 400077, Maharashtra, India |
|
Date of Birth/Age : |
31.05.1979 |
|
Date of Appointment : |
30.09.2010 |
|
DIN No : |
00580653 |
|
|
|
|
Name : |
Mr. Bhogilal Maneklal Mehta |
|
Designation : |
Director |
|
Address : |
255/11, Prity, R.N.N,
Road, Gathkopar (East), Mumbai - 400077, Maharashtra, India |
|
Date of Birth/Age : |
27.06.1945 |
|
Date of Appointment : |
30.09.2010 |
|
DIN No : |
00580668 |
|
|
|
|
Name : |
Mr. Nyalchand Maneklal Mehta |
|
Designation : |
Director |
|
Address : |
255/11, Prity,
R.N.N, Road, Gathkopar (East), Mumbai - 400077, Maharashtra, India |
|
Date of Birth/Age : |
23.03.1936 |
|
Date of Appointment : |
30.09.2010 |
|
DIN No.: |
02728277 |
KEY EXECUTIVES
|
Name : |
Mr. Vishal |
|
Designation : |
Senior Accountant |
MAJOR SHAREHOLDERS
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Bharat Mehta |
|
278735 |
|
Hitendra Nyalchand Mehta |
|
226370 |
|
Kirti Bhogilal Mehta |
|
371870 |
|
Darshan Bhogilal Mehta |
|
429870 |
|
Daksha B. Mehta |
|
145500 |
|
Priti H Mehta |
|
128000 |
|
Bijal K Mehta |
|
146460 |
|
Nyalchand M Mehta |
|
379870 |
|
Bhogilal M Mehta |
|
359825 |
|
Jayshree Mehta |
|
132500 |
|
Chandrika B Mehta |
|
143000 |
|
Purvi Mehta |
|
115000 |
|
Aquatic Formulations Private Limited, India |
|
2790000 |
|
Hemant Mehta |
|
472500 |
|
Bijal Hemant Mehta |
|
100000 |
|
Bharat Mehta (HUF) |
|
299500 |
|
Kirti Mehta (HUF) |
|
351500 |
|
Nyalchand M Mehta (HUF) |
|
349500 |
|
Bhogilal M Mehta (HUF) |
|
350000 |
|
Hitendra Mehta (HUF) |
|
315000 |
|
Darshan Mehta (HUF) |
|
105000 |
|
Kishorekuar Bavishi |
|
230000 |
|
R. N. Damania |
|
240000 |
|
Mahesh Bavishi |
|
200000 |
|
Anand Kamdar |
|
190000 |
|
Monica Sharma |
|
105000 |
|
Manoj Ajmera |
|
145000 |
|
Saurabh Kamdar |
|
250000 |
|
Nilesh Bavishi |
|
120000 |
|
Ramila Ajmera |
|
200000 |
|
Total |
|
9670000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
|
Category |
Percentage |
|
Bodies corporate |
28.85 |
|
Directors or relatives of Directors |
53.78 |
|
Other top fifty shareholders |
17.37 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader, Exporter and Importers of Pharmaceutical Raw Materials and
Bulk Active Ingredients. |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
Not Divulged |
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Customers : |
Not Divulged |
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No. of Employees : |
Information denied by management |
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Bankers : |
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Facilities : |
Note : Long Term Borrowings Vehicle Loans from Banks are secured by way of hypothecation of vehicle on the immovable property situated at Ghatkopar. The Term Loans carries interest @ 9.40%per annum. The loan is repayable in 36 monthly installments of Rs.0.057 Million each inclusive of interest from the date of loan. Further, the loan has been secured by personal guarantee of Director of the Company. Vehicle Loans from Banks are secured by way of hypothecation of vehicle on the immovable property situated at Ghatkopar. The Term Loans carries interest @ 18 %. The loan is repayable in 36 monthly installments of Rs.0.071 Million each inclusive of interest from the date of loan. Further, the loan has been secured by personal guarantee of Director of the Company. Short Term Borrowings Working Capital
Loans (a) To the extent of Rs.250.142 Millions Secured by: Equitable mortgage on Two Residential Flats, Lien on Fixed Deposit to the value of Rs.16.40Lacs, First pari passu charge on entire current assets of the company along with the other bank and further secured by personal guarantees of Directors of the company and Corporate Guarantee of Aquatic Formulations (India) Limited Rate of interest : 13% (b) To the extent of Rs.56.140 Millions Secured by: Equitable mortgage on Four Residential Flats, two office premises Lien on Fixed Deposit, First pari passu charge on entire current assets of the company along with the other bank and further secured by personal guarantees of Directors of the company and Corporate Guarantee of Aquatic Formulations (India) Limited Rate of interest : 12.25% |
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
C. B. Chhajed and Company Chartered Accountants |
|
Address : |
DGP House, Ground Floor, 88-C, Old Prabhadevi Road, Mumbai-400025,
Maharashtra, India |
|
PAN No.: |
AAAFC3565E |
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Memberships : |
-- |
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Collaborators : |
-- |
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Related Parties : |
CIN No.: U24230MH1999PLC122956
|
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11000000 |
Equity Shares |
Rs.10/- each |
Rs.110.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9670000 |
Equity Shares |
Rs.10/- each |
Rs.96.700 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 |
96.700 |
96.700 |
96.700 |
|
(b) Reserves & Surplus |
133.289 |
98.657 |
68.897 |
|
(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) |
229.989 |
195.357 |
165.597 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.277 |
1.304 |
1.087 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
0.277 |
1.304 |
1.087 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
167.158 |
68.436 |
49.224 |
|
(b) Trade
payables |
693.340 |
747.974 |
516.105 |
|
(c) Other
current liabilities |
259.919 |
166.003 |
138.513 |
|
(d) Short-term
provisions |
0.487 |
5.869 |
0.320 |
|
Total Current
Liabilities (4) |
1,120.904 |
988.282 |
704.162 |
|
|
|
|
|
|
TOTAL |
1,351.170 |
1,184.943 |
870.846 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
5.964 |
7.183 |
6.638 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
21.668 |
21.637 |
21.611 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
4.509 |
4.497 |
4.497 |
|
(e) Other
Non-current assets |
5.263 |
24.599 |
15.000 |
|
Total Non-Current
Assets |
37.404 |
57.916 |
47.746 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
155.183 |
109.602 |
97.027 |
|
(c) Trade
receivables |
1,061.090 |
941.227 |
678.067 |
|
(d) Cash
and cash equivalents |
54.049 |
50.018 |
32.682 |
|
(e)
Short-term loans and advances |
43.444 |
26.180 |
15.324 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total Current
Assets |
1,313.766 |
1,127.027 |
823.100 |
|
|
|
|
|
|
TOTAL |
1,351.170 |
1,184.943 |
870.846 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
|
|
INCOME |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
NA |
45.060 |
30.073 |
|
|
|
|
|
|
|
|
|
|
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
34.632 |
29.760 |
19.973 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
98.657 |
68.897 |
48.924 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
133.289 |
98.657 |
68.897 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
1144.975 |
856.726 |
570.967 |
|
|
TOTAL IMPORTS |
1144.975 |
856.726 |
570.967 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.58 |
3.08 |
2.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
3.87 |
3.54 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
0.23 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.73 |
0.36 |
0.30 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.17 |
1.14 |
1.17 |
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 |
96.700 |
96.700 |
96.700 |
|
Reserves & Surplus |
68.897 |
98.657 |
133.289 |
|
Share Application money pending allotment |
165.597 |
195.357 |
229.989 |
|
Net
worth |
|
|
|
|
|
1.087 |
1.304 |
0.277 |
|
Long Term borrowings |
49.224 |
68.436 |
167.158 |
|
Short Term borrowings |
50.311 |
69.740 |
167.435 |
|
Total
borrowings |
0.304 |
0.357 |
0.728 |
|
Debt/Equity
ratio |
|
|
|
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
Rs.
In Millions
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current maturities of long term debt |
1.260 |
1.537 |
0.550 |
|
Total |
1.260 |
1.537 |
0.550 |
|
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 |
No |
|
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 |
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
SHORT TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
46.042 |
31.557 |
|
Inter Corporate
Deposits |
|
|
|
Aquatic Formulations India Limited |
24.828 |
22.968 |
|
Oceanic Techno Chem Private Limited |
14.606 |
13.511 |
|
From Others |
|
|
|
P.R. Pharma Source Private Limited |
0.400 |
0.400 |
|
Total |
85.876 |
68.436 |
OPERATING AND
FINANCIAL RESULTS: -
The Financial result of the company shows a net profit after
tax of sum of Rs.34.632 Millions which the directors propose to retain for
business purposes.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10397079 |
30/11/2012 |
100,000,000.00 |
Yes Bank Limited |
9th Floor, Nehru
Centre, Discovery Of India,, Dr. |
B65923534 |
|
2 |
10194635 |
06/05/2014 * |
445,000,000.00 |
ING Vysya Bank Limited |
Unit No 2/3/4, Marathon Max Building,, Mulund Goregoan Link Road, Mulund West, Mumbai, Maharashtra - 400080, India |
C13569801 |
*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.61.52 |
|
|
1 |
Rs.97.39 |
|
Euro |
1 |
Rs.76.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
VNT |
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 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
43 |
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.