MIRA
INFORM REPORT
|
Report Date : |
09.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
SESHAASAI BUSINESS FORMS PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
SESHASAI BUSINESS FORMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
9, Lalwani Industrial Estate, 14, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
17.09.1993 |
|
|
|
|
Com. Reg. No.: |
11-074023 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.42.100 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U21017MH1993PTC074023 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCS1741G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing Offset Printing Solutions and Security Printing Solutions. |
|
|
|
|
No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
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|
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|
Comments : |
Subject is an established company having satisfactory track record. The rating reflects company’s healthy operational risk profile marked by
diversified product portfolio and decent profitability margins of the
company. Trade relations are 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 condition. |
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
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk |
|
Date |
03.07.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A3+ |
|
Rating Explanation |
Moderate degree of safety and high credit
risk |
|
Date |
03.07.2013 |
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 DENIED BY
|
Name : |
Mr. Gautam Sampatraj Jain |
|
Designation : |
Director |
|
Contact No.: |
91-9819863653 |
|
Date : |
07.10.2014 |
LOCATIONS
|
Registered Office/ Corporate Office : |
9, Lalwani Industrial Estate, 14, Katrak Road, Wadala (West), Mumbai –
400 031, Maharashtra, India |
|
Tel. No.: |
91-22-66624394/ 24128128 |
|
Mobile No. : |
91-9819863653 (Mr. Gautam Jain) |
|
Fax No.: |
91-22-66624396 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
3500 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Branch Offices : |
Located At: ·
Navi Mumbai ·
Pune ·
Ahmedabad ·
Bangalore ·
Delhi ·
Chennai ·
Kundli ·
Kolkata ·
Hyderabad |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Pragnyat Pravin Lalwani |
|
Designation : |
Director |
|
Address : |
4/93, Vijay Niwas, Station Road, Wadala, Mumbai – 400 031,
Maharashtra, India |
|
Date of Birth/Age : |
13.11.1970 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
17.09.1993 |
|
PAN No.: |
AABPL3679F |
|
DIN No.: |
01870792 |
|
|
|
|
Name : |
Mr. Gautam Sampatraj Jain |
|
Designation : |
Director |
|
Address : |
234/235, Naigaum Cross Road, Dadar, Mumbai – 400 014, Maharashtra,
India |
|
Date of Birth/Age : |
04.09.1971 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
17.09.1993 |
|
PAN No.: |
AACPJ8486B |
|
DIN No.: |
02060629 |
MAJOR SHAREHOLDERS
As on 30.09.2013
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Pragnyat Pravin Lalwani |
|
66000 |
|
Gautam Sampatraj Jain |
|
66000 |
|
Seshaasai E-Forms Private Limited, India |
|
44000 |
|
Total |
|
176000 |
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Bharat Trading Corporation, India |
|
145000 |
|
Gautam S. Jain (HUF) |
|
90000 |
|
Sampat Jain (HUF) |
|
10000 |
|
Total |
|
245000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Bodies corporate |
25.00 |
|
Directors or relatives of Directors |
75.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Offset Printing Solutions and Security Printing Solutions. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
Customers : |
·
AADHAR ·
Airtel ·
Axis Bank ·
Bank of India ·
Bank of Baroda ·
Birla Sun Life ·
Big Bazar ·
Cams ·
Canar Bank ·
Citi Bank ·
HDFC Bank ·
HDFC Life ·
HSBC ·
IDBI Bank ·
Idea |
|
|
|
|
No. of Employees : |
Information denied by management |
|
|
|
|
Bankers : |
·
Axis Bank Limited, Corporate Banking Branch, Axis
House, Ground Floor, Bombay Dyeing Mill Compound, P.B. Marg, Worli, Mumbai –
400 025, Maharashtra, India ·
Axis Bank Limited, Credit Management Centre, 2nd
Floor, 3rd Eye One, Near Panchwati Circle, C.G. Road, Ahmedabad –
380 006, Gujarat, India ·
The Karur Vysya
Bank Limited ·
Indian Overseas
Bank ·
Bank of India ·
HDFC Bank Limited ·
ICICI Bank Limited ·
Kotak Mahindra
Bank Limited · The Greater Bombay Co-Operative Bank Limited |
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
J.C. Shah and Associates Chartered Accountants |
|
Address : |
B-10, Super Shopping Complex, Dr. Dalvi Road, Kandiwali (West), Mumbai
– 400 067, Maharashtra, India |
|
Tel. No.: |
91-22-28618269/ 28651406/ 28663495 |
|
PAN No.: |
ANRPS0078C |
|
|
|
|
Related Parties : |
·
Pentax Pharma Private Limited, India CIN No.: U24139MH1992PTC068429 ·
Creative Formulations (India) Private Limited,
India CIN No.: U10100MH1991PTC062972 |
|
|
|
|
Enterprises which are owned, or have significant influence of or are
partners with Key management personnel and their relatives : |
·
Seshaasai E-Forms Private Limited, India CIN No.: U72200MH2001PTC131337 ·
Bharat Trading Corporation, India · Srichakra Prints Private Limited CIN No.: U99999MH1994PTC077986 |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
180000 |
Equity Shares |
Rs.100/- each |
Rs.18.000 Millions |
|
245000 |
Preference Shares |
Rs.100/- each |
Rs.24.500 Millions |
|
|
Total |
|
Rs.42.500
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
176000 |
Equity Shares |
Rs.100/- each |
Rs.17.600 Millions |
|
245000 |
Preference Shares |
Rs.100/- each |
Rs.24.500 Millions |
|
|
Total |
|
Rs.42.100
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 |
42.100 |
42.100 |
16.950 |
|
(b) Reserves & Surplus |
252.109 |
160.657 |
118.223 |
|
(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) |
294.209 |
202.757 |
135.173 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
185.560 |
217.359 |
211.184 |
|
(b) Deferred tax liabilities (Net) |
31.400 |
22.590 |
25.750 |
|
(c) Other long term liabilities |
4.422 |
3.298 |
2.361 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
221.382 |
243.247 |
239.295 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
252.064 |
179.495 |
123.574 |
|
(b) Trade payables |
282.343 |
274.204 |
231.140 |
|
(c) Other current
liabilities |
99.095 |
89.879 |
72.316 |
|
(d) Short-term provisions |
8.347 |
2.802 |
1.852 |
|
Total Current Liabilities (4) |
641.849 |
546.380 |
428.882 |
|
|
|
|
|
|
TOTAL |
1,157.440 |
992.384 |
803.350 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
471.178 |
356.412 |
364.715 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
8.870 |
54.199 |
12.297 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.500 |
0.500 |
0.500 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
14.911 |
23.786 |
20.101 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
495.459 |
434.897 |
397.613 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
281.302 |
211.253 |
160.656 |
|
(c) Trade receivables |
295.186 |
282.560 |
186.211 |
|
(d) Cash and cash
equivalents |
16.664 |
15.159 |
14.300 |
|
(e) Short-term loans and
advances |
35.316 |
18.718 |
12.873 |
|
(f) Other current assets |
33.513 |
29.797 |
31.697 |
|
Total Current Assets |
661.981 |
557.487 |
405.737 |
|
|
|
|
|
|
TOTAL |
1,157.440 |
992.384 |
803.350 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
1,430.045 |
1,075.463 |
979.550 |
|
|
|
|
Other Income |
NA |
NA |
3.171 |
|
|
|
|
TOTAL |
NA |
NA |
982.721 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
1,250.395 |
965.167 |
864.968 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
179.650 |
110.296 |
117.753 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/ AMORTISATION |
54.187 |
60.879 |
66.017 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX |
125.463 |
49.417 |
51.736 |
||
|
|
|
|
|
|
||
|
Less |
TAX |
34.785 |
13.340 |
22.990 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX |
90.678 |
36.077 |
28.746 |
||
|
|
|
|
|
|
||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
104.869 |
75.762 |
53.868 |
||
|
|
|
|
|
|
||
|
Less |
APPROPRIATIONS |
|
|
|
||
|
|
|
Transfer to General Reserve |
5.000 |
5.000 |
5.000 |
|
|
|
|
Dividend |
1.695 |
1.695 |
1.588 |
|
|
|
|
Proposed Preference Dividend |
2.205 |
0.000 |
0.000 |
|
|
|
|
Tax on Dividend |
0.663 |
0.275 |
0.264 |
|
|
|
BALANCE CARRIED
TO THE B/S |
185.984 |
104.869 |
75.762 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
Export Earnings |
52.687 |
0.000 |
0.000 |
|
|
|
TOTAL EARNINGS |
52.687 |
0.000 |
0.000 |
||
|
|
|
|
|
|
||
|
|
Earnings /
(Loss) Per Share (Rs.) |
215.39 |
NA |
NA |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
NA |
NA |
2.93 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.77 |
4.59 |
5.28 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.93 |
5.27 |
6.54 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.43 |
0.24 |
0.38 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.49 |
1.96 |
2.48 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.03 |
1.02 |
0.95 |
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 |
16.950 |
42.100 |
42.100 |
|
Reserves & Surplus |
118.223 |
160.657 |
252.109 |
|
Net
worth |
135.173 |
202.757 |
294.209 |
|
|
|
|
|
|
long-term borrowings |
211.184 |
217.359 |
185.560 |
|
Short term borrowings |
123.574 |
179.495 |
252.064 |
|
Total
borrowings |
334.758 |
396.854 |
437.624 |
|
Debt/Equity
ratio |
2.477 |
1.957 |
1.487 |
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 |
979.550 |
1,075.463 |
1,430.045 |
|
|
|
9.792 |
32.970 |
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
|
979.550 |
1,075.463 |
1,430.045 |
|
Profit |
28.746 |
36.077 |
90.678 |
|
|
2.93% |
3.35% |
6.34% |
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 |
65.593 |
61.061 |
45.712 |
|
Total |
65.593 |
61.061 |
45.712 |
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
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 |
Yes |
|
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 |
Yes |
PERFORMANCE:
The Company’s turnover has increased to Rs.1430.000 Millions and the net profit after tax to Rs.90.600 Millions
Change in Depreciation method from WDV to SLM retrospectively from 2006-07:
The Company was providing depreciation on the written down value method at the rates and in manner prescribed in Schedule XIV. However, the management is of the view that the SLM method of depreciation would result in the true and fair value of the assets being reflected in the books of account.
During the year, the Company has changed its method of providing depreciation from written down value to straight line method retrospectively from 2006-07 to represent a true life of the assets. This has resulted to excess provision of depreciation to the extent of Rs.62.169 Millions in earlier years and is written back as exceptional items in the Statement of Profit and Loss.
The impact of change in the method of depreciation to SLM has resulted in a higher profit to the tune of Rs.9.801 Millions in the current year
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10509321 |
20/06/2014 |
250,000,000.00 |
State Bank Of Travancore |
Chembur Branch, Shop No. 1,2,3, Shripal Building, Chhaya Society, Chembur Naka, S T Road, Mumbai, Maharashtra - 400071, India |
C11519808 |
|
2 |
10509132 |
20/06/2014 |
421,900,000.00 |
Axis Bank Limited |
Corproate Banking
Branch,Axis House,Gr Floor, Bombay Dyeing Mill Compound,P.B. Marg,Worli,
Mumbai, |
C11388675 |
|
3 |
10485131 |
28/02/2014 |
208,000,000.00 |
BANK OF INDIA |
328, Katrak Road, Wadala (West), Mumbai, Maharashtra - 400031, India |
C00583294 |
|
4 |
10485708 |
05/02/2014 |
150,000,000.00 |
State Bank of Travancore |
Shop No. 1,2,3 Shripal Building, Chembur Naka, Chembur, Mumbai, Maharashtra - 400071, India |
C00778696 |
|
5 |
10485294 |
30/01/2014 |
100,000,000.00 |
State Bank of Travancore |
Shop No. 1,2,3 Shripal Building, Chembur Naka, Chembur, Mumbai, Maharashtra - 400071, India |
C00626770 |
|
6 |
10314245 |
06/12/2013 * |
196,700,000.00 |
Indian Overseas Bank |
Plot No. 4/4, Sector - 5,, Vashi, Navi Mumbai, Maharashtra - 400703, India |
C22318687 |
|
7 |
10204251 |
18/03/2013 * |
244,600,000.00 |
Axis Bank Limited |
Credit Management Centre, Unit No. 6,, Corporate Park, Sion Trombay Road, Chembur, Mumbai, Maharashtra - 400071, India |
B73960726 |
|
8 |
10180797 |
23/09/2010 * |
10,000,000.00 |
Axis Bank Limited |
Credit Management Centre, Unit No. 6,, Corporate Park, Sion Trombay Road, Chembur, Mumbai, Maharashtra - 400071, India |
A96541677 |
|
9 |
10180795 |
23/09/2010 * |
50,600,000.00 |
Axis Bank Limited |
Credit Management Centre, Unit No. 6,, Corporate Park, Sion Trombay Road, Chembur, Mumbai, Maharashtra - 400071, India |
A96541438 |
|
10 |
10180796 |
28/02/2014 * |
361,900,000.00 |
Axis Bank Limited |
Corproate Banking Branch,Axis
House,Gr Floor, Bombay Dyeing Mill Compound,P.B. Marg,Worli, Mumbai, |
C00270785 |
|
11 |
10153988 |
23/09/2010 * |
60,000,000.00 |
Axis Bank Limited |
Credit Management Centre, Unit No. 6,, Corporate Park, Sion Trombay Road, Chembur, Mumbai, Maharashtra - 400071, India |
A96541784 |
*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 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.61.36 |
|
|
1 |
Rs.98.71 |
|
Euro |
1 |
Rs.77.47 |
INFORMATION DETAILS
|
Information Gathered
by : |
GYT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
0 |
|
--BUSINESS SCALE |
1~10 |
6 |
|
--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 |
|
48 |
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.