MIRA
INFORM REPORT
|
Report Date : |
06.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
BERTLING LOGISTICS INDIA PRIVATE LIMITED |
|
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|
|
Registered
Office : |
Unit No. B-402, 4th Floor, Ackruti Trade Centre, Road No. 7,
MIDC, Andheri (East), Mumbai – 400093, |
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Country : |
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Financials (as
on) : |
31.12.2012 |
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Date of
Incorporation : |
11.01.2007 |
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Com. Reg. No.: |
11-166928 |
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Capital Investment
/ Paid-up Capital : |
Rs. 82.556 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U63013MH2007PTC166928 |
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|
PAN No.: [Permanent Account No.] |
AADCB0311K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Providing logistics services including but not limited to air, sea and land transportation, freight forwarding, warehousing and to supply provisions and bunkers on board the vessels, to undertake the activities of cargo booking, to hire ships on chartered basis, to act as clearing and forwarding agents and customs clearing agents. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 340000 |
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|
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 record. As per registrar of companies the date of Balance Sheet (i.e.
financial file) is shown as 31.12.2013 but the document related to the financial
are not available from any source. As per available financial record of 2012, the rating is constrained
on account of company’s moderate financial risk profile marked by low
reserves and loss that company has incurred from its operational activities. However, trade relations are fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealing with some 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 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks
over coal supply contracts, uncertainty over cancellation of blocks weigh on
stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains revenue
guidance. COO Rao says attrition still an area of concern and it would take a
few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: “BB” |
|
Rating Explanation |
Inadequate credit quality and high credit
risk. |
|
Date |
01.09.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: “A4+” |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
01.09.2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-22-42302500)
LOCATIONS
|
Registered Office : |
Unit No. B-402, 4th Floor, Ackruti Trade Centre, Road No.
7, MIDC, Andheri (East), Mumbai – 400093, Maharashtra, India |
|
Tel. No. : |
91-22-42302500 |
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Fax No. : |
91-22-28362277 |
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E-Mail : |
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Website : |
DIRECTORS
As on 23.06.2014
|
Name : |
Sharmila Hiralal Amin |
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|
Designation : |
Managing Director |
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Address : |
11/12 Palm Spring, 1289 Hatiskar Marg, Prabhadevi, Mumbai - 400025,
Maharashtra, India |
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Date of Birth/Age : |
06.02.1962 |
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Date of Appointment : |
31.03.2014 |
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DIN No. : |
06770401 |
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Other Directorship :
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Name : |
Mandamparambu Balan Narayanan |
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Designation : |
Whole-time Director |
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Address : |
19, Gita Sadan, 75, Cenreal Avenue, Chembur, Mumbai - 400071,
Maharashtra, India |
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Date of Birth/Age : |
27.07.1965 |
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Date of Appointment : |
28.06.2013 |
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DIN No. : |
06546544 |
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Other Directorship :
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Name : |
Martina Agbidi |
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Designation : |
Director |
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Address : |
Schumannstrabe 69, Hamburg, 22083, Germany |
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Date of Birth/Age : |
31.01.1968 |
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Date of Appointment : |
28.06.2013 |
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DIN No. : |
06560277 |
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Other Directorship :
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 23.06.2014
|
Names of Shareholders |
No. of Shares |
|
F.H. Bertling Limited, United Kingdom |
250440 |
|
Bertling Overseas Holdings Limited, United Kingdom |
1 |
|
F.H. Bertling International GmbH, Germany |
237423 |
|
Total |
487864 |
As on 23.06.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing logistics services including but not limited to
air, sea and land transportation, freight forwarding, warehousing and to
supply provisions and bunkers on board the vessels, to undertake the
activities of cargo booking, to hire ships on chartered basis, to act as
clearing and forwarding agents and customs clearing agents. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
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Bankers : |
Bank of Baroda, Nariman Point Branch, Foreshore Building, Gen Bhosale Marg, Near Sachivalaya Gym, Nariman Point, Mumbai - 400021, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Sudit K. Parekh and Company Chartered Accountants |
|
Address : |
Ballard House, 2nd Floor, Adi Marzban, Ballard Pier, Fort, Mumbai – 400001, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFS4500P |
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|
|
|
Ultimate
Holding Companies : |
· Globe Forwarding Agencies, Afghanistan Globe Forwarding Agencies Private Limited CIN No.: U74999TN2011PTC079882 |
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|
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|
Enterprises which
are owned, or have significant influence of or are partners with Key
Management personnel and their relatives : |
· Bertling Logistics Inc F H Bertling Logistic Pty Limited Bertling EDI Services and IT Gmbh F H BertlingLogisticsGmbH F H Bertling Projects Logistics sdn Bhd F H Bertling PTE Limited
Bertling Kazakh logistics LLP Bertling Logistics, Peru F H Bertling logistics Brasil Ltda F H Bertling Logistics Japan K K Bertling Logistics Chille SA Bertling Gulf Logistic Limited F H Bertling Limited
F H Bertling Pty Limited F H Bertling Lojistik ve Uluslararasi nakliyat Limited F H Bertling Limited, CHINA F H Bertling Limited, AZERBAIJAN Bertling Logistic, FRANCE Bertling Logistics LLC Bertling Logistics company Limited F H Bertling AB F H Bertling Projects Logistics Sdn Bhd F H Bertling Gmbh and Co KG Bertling Logistics, ITALY Bertling Logistics Co Limited PT F H Bertling Logistics Indonesia F H Bertling Co Limited F H Bertling OY Bertling Logistics Spain F H Bertling Logistics SPRL H Bertling Holding GmbH and Co KG F H Bertling Chartering and ship management Pte Limited F H BERTLNG LIMITED UK Brenab Hauliers private Limited CIN No.: U74999MH2008PTC187095 |
CAPITAL STRUCTURE
As on 23.06.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
700,000 |
Equity Shares |
Rs.500/- each |
Rs. 350.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
487,864 |
Equity Shares |
Rs.500/- each |
Rs. 243.932 Millions |
|
|
|
|
|
As on 31.12.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200,000 |
Equity Shares |
Rs.500/- each |
Rs. 100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
165,111 |
Equity Shares |
Rs.500/- each |
Rs. 82.556 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.12.2012 |
31.12.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
|
82.556 |
82.556 |
|
(b) Reserves & Surplus |
|
2.943 |
12.180 |
|
(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) |
|
85.499 |
94.736 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
|
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
132.514 |
96.768 |
|
(b) Trade payables |
|
87.158 |
75.973 |
|
(c) Other current
liabilities |
|
11.738 |
12.263 |
|
(d) Short-term provisions |
|
8.308 |
6.095 |
|
Total Current Liabilities (4) |
|
239.718 |
191.099 |
|
|
|
|
|
|
TOTAL |
|
325.217 |
285.835 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
4.144 |
5.335 |
|
(ii) Intangible Assets |
|
0.095 |
0.198 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
60.030 |
35.655 |
|
(c) Deferred tax assets (net) |
|
5.230 |
7.455 |
|
(d) Long-term Loan and Advances |
|
26.406 |
28.339 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
95.905 |
76.982 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
0.000 |
0.000 |
|
(c) Trade receivables |
|
157.531 |
152.349 |
|
(d) Cash and cash
equivalents |
|
11.117 |
23.025 |
|
(e) Short-term loans and
advances |
|
34.171 |
19.128 |
|
(f) Other current assets |
|
26.493 |
14.351 |
|
Total Current Assets |
|
229.312 |
208.853 |
|
|
|
|
|
|
TOTAL |
|
325.217 |
285.835 |
|
SOURCES OF FUNDS |
|
|
31.12.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
82.556 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
3.391 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
85.947 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
46.062 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
46.062 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
132.009 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
9.493 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
31.889 |
|
|
DEFERRED TAX ASSETS |
|
|
7.304 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
241.107 |
|
|
Cash & Bank Balances |
|
|
12.520 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
66.889 |
|
Total
Current Assets |
|
|
320.516 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
187.486 |
|
|
Other Current Liabilities |
|
|
42.968 |
|
|
Provisions |
|
|
6.739 |
|
Total
Current Liabilities |
|
|
237.193 |
|
|
Net Current Assets |
|
|
83.323 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
132.009 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
|
|
|
|
|
|
|
|
|
|
Income |
|
|
821.969 |
|
|
|
Other Income |
|
|
31.779 |
|
|
|
TOTAL (A) |
849.079 |
1062.570 |
853.748 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Operating Costs |
|
|
715.204 |
|
|
|
Administrative and Other Expenses |
|
|
120.950 |
|
|
|
TOTAL (B) |
856.098 (Including Financial Expenses and Depreciation) |
1050.289 (Including Financial
Expenses and Depreciation) |
836.154 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
17.594 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
2.528 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
15.066 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
2.193 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
(7.019) |
12.281 |
12.873 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.219 |
3.492 |
(2.294) |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
(9.238) |
8.789 |
15.167 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
12.180 |
3.391 |
(11.776) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
2.942 |
12.180 |
3.391 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Service Income |
75.931 |
59.611 |
163.605 |
|
|
TOTAL EARNINGS |
75.931 |
59.611 |
163.605 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(55.95) |
53.23 |
91.86 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
PAT / Total Income |
(%) |
(1.09) |
0.83 |
1.78 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
1.57 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(2.70) |
5.06 |
3.90 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.08) |
0.13 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.55 |
1.02 |
0.54 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.96 |
1.09 |
1.35 |
FINANCIAL ANALYSIS
[all figures are in
Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
|
31.12.2011 |
31.12.2012 |
|
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
|
82.556 |
82.556 |
|
Reserves & Surplus |
|
12.180 |
2.943 |
|
Net
worth |
|
94.736 |
85.499 |
|
|
|
|
|
|
long-term borrowings |
|
0.000 |
0.000 |
|
Short term borrowings |
|
96.768 |
132.514 |
|
Total
borrowings |
|
96.768 |
132.514 |
|
Debt/Equity
ratio |
|
1.021 |
1.550 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2010 |
31.12.2011 |
31.12.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
853.748 |
1062.570 |
849.079 |
|
|
|
24.459 |
(20.092) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2010 |
31.12.2011 |
31.12.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
853.748 |
1062.570 |
849.079 |
|
Profit |
15.167 |
8.789 |
(9.238) |
|
|
1.78% |
0.83% |
(1.09%) |
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 |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10240624 |
09/06/2012 * |
300,000,000.00 |
BANK OF BARODA |
NARIMAN POINT
BRANCH, FORESHORE BUILDING, GEN BH |
B61638649 |
* Date of charge modification
BACKGROUND
The Company was incorporated as a private limited company on 16 January 2007. The company is engaged in the business of providing logistics services including but not limited to air, sea and land transportation, freight forwarding, warehousing and to supply provisions and bunkers on board the vessels, to undertake the activities of cargo booking, to hire ships on chartered basis, to act as clearing and forwarding agents and customs clearing agents.
OPERATIONS
The company has incurred a loss of Rs. 9,237,855 during the year. The Board foresees a good opportunity in the ensuing year.
FIXED ASSETS
Tangible Assets
· Furniture and Fixtures
Office
Equipment
Computer
Equipments
Other
Equipments
Leasehold
Improvements
Intangible Assets
· Computer Software
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.61.75 |
|
|
1 |
Rs.100.07 |
|
Euro |
1 |
Rs.77.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
MRI |
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 |
3 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--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 |
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 |
|
26 |
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.