MIRA INFORM REPORT
|
Report Date : |
15.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
RELIANCE PAYMENT SOLUTIONS LIMITED (w.e.f. 21.06.2012) |
|
|
|
|
Formerly Known
As : |
RELIANCE RETAIL TRAVEL AND FOREX SERVICES LIMITED |
|
|
|
|
Registered
Office : |
5th Floor, Court
House, Lokmanya Tilak Marg, Dhobi Talao, Mumbai – 400002, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
07.09.2007 |
|
|
|
|
Com. Reg. No.: |
11-173923 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 88.920 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U65923MH2007PLC173923 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR22242D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCR7144Q |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Development of Payment Products and Systems. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Even though the company was incorporated on 7th September
2007, it has recently commenced its business operations. It is having
moderate track record. Mr. Mohit Kanodia, VP in finance has provided us with very few
information and claimed that company has started its business operations from
April 2014. As per available financial record of 2014, the company has incurred pre-operating
expenses which has resulted into hue accumulated losses recorded by the
company. However, trade relations are improving. Business is active. Payment
terms are slow but correct. The company can be considering 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.
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.
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 BY
|
Name : |
Mr. Mohit Kanodia |
|
Designation : |
VP in finance |
|
Contact No.: |
91-9867783199 |
|
Date : |
13.10.2014 |
LOCATIONS
|
Registered Office : |
5th Floor, Court
House, Lokmanya Tilak Marg, Dhobi Talao, Mumbai – 400002, Maharashtra, India |
|
Tel. No.: |
91-22-44770000 |
|
Fax No.: |
91-22-22785560 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 11.09.2013
|
Name : |
Mr. Murlidhara Lakshmikantha Kadaba |
|
Designation : |
Director |
|
Address : |
Flat No # 0302, Block
# B4, 3rd Floor, Sector 30, World SPA, Gurgaon - 122001, Haryana, India |
|
Date of Birth/Age : |
09.06.1961 |
|
Qualification : |
BE Mechanical
and PGDBM in Marketing and Finance |
|
Date of Appointment : |
23.08.2012 |
|
DIN No.: |
01435701 |
|
|
|
|
Name : |
Mr. Ramesh Kumar Damani |
|
Designation : |
Director |
|
Address : |
403, Fourth
Floor, Usha Kung, 30 D, Juhu Koli Wada, Juhu Tara Road Santacruz, Mumbai -
400049, Maharashtra, India |
|
Date of Birth/Age : |
06.05.1971 |
|
Qualification : |
B.Com, CA,CS |
|
Date of Appointment : |
31.03.2010 |
|
DIN No.: |
00049764 |
|
|
|
|
Name : |
Kiran Mathew Thomas |
|
Designation : |
Director |
|
Address : |
77 A, Nandavan
CHS, Sector 17, Nerul, Navi Mumbai, Thane - 400706, Maharashtra, India |
|
Date of Birth/Age : |
12.09.1972 |
|
Qualification : |
BE, MBA |
|
Date of Appointment : |
18.11.2009 |
|
DIN No.: |
02242745 |
KEY EXECUTIVES
|
Name : |
Mr. Mohit Kanodia |
|
Designation : |
VP in finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 11.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Reliance
Industrial Investments and Holdings Limited, India |
|
6391994 |
|
K Sethuraman
jointly with Reliance Industrial Investments and Holdings Limited, India |
|
1 |
|
Sudhakar Saraswatula
jointly with Reliance Industrial Investments and Holdings Limited, India |
|
1 |
|
Rohit C Shah
jointly with Reliance Industrial Investments and Holdings Limited, India |
|
1 |
|
Ashwin Khasgiwala
jointly with Reliance Industrial Investments and Holdings Limited, India |
|
1 |
|
Ramesh Kumar
Damani jointly with Reliance Industrial Investments and Holdings Limited,
India |
|
1 |
|
Raj Mullick jointly
with Reliance Industrial Investments and Holdings Limited, India |
|
1 |
|
|
|
|
|
Total |
|
6392000 |
As on 12.03.2014
|
Names of Allottees |
|
No. of Shares |
|
Reliance
Industrial Investments and Holdings Limited, India |
|
2500000 |
|
Total |
|
2500000 |
As on 22.09.2014
|
Names of Allottees |
|
No. of Shares |
|
Reliance
Industrial Investments and Holdings Limited, India |
|
10800000 |
|
Total |
|
10800000 |
AS ON 11.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Development of Payment Products and Systems. |
||||
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||||
|
Products/ Services : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|
|
|
|
Bankers : |
Not Divulged |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Chaturvedi and Shah Chartered Accountants |
|
Address : |
714-715, Tulsiani
Chambers 212, Nariman Point, Mumbai – 400021, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFC0662N |
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|
|
|
Ultimate Holding
company: |
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|
Holding company: |
|
CAPITAL STRUCTURE
As on 12.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs. 500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
19692000 |
Equity Shares |
Rs.10/- each |
Rs. 196.920
Millions |
|
|
|
|
|
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs. 100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8892000 |
Equity Shares |
Rs.10/- each |
Rs. 88.920
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
88.920 |
20.000 |
10.000 |
|
(b) Reserves & Surplus |
(13.916) |
(13.342) |
(13.285) |
|
(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) |
75.004 |
6.658 |
(3.285) |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
45.000 |
3.920 |
3.876 |
|
(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) |
45.000 |
3.920 |
3.876 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
0.000 |
0.000 |
0.015 |
|
(c) Other current liabilities |
11.807 |
6.945 |
0.002 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
11.807 |
6.945 |
0.017 |
|
|
|
|
|
|
TOTAL |
131.811 |
17.523 |
0.608 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
52.856 |
0.000 |
0.000 |
|
(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 |
58.986 |
6.661 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
3.796 |
0.340 |
0.337 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
115.638 |
7.001 |
0.337 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
5.111 |
0.560 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
0.000 |
0.000 |
0.000 |
|
(d) Cash and cash equivalents |
1.419 |
9.862 |
0.169 |
|
(e) Short-term loans and
advances |
9.643 |
0.100 |
0.102 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
16.173 |
10.522 |
0.271 |
|
|
|
|
|
|
TOTAL |
131.811 |
17.523 |
0.608 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
0.000 |
0.000 |
0.100 |
|
|
Other Income |
0.613 |
0.384 |
0.015 |
|
|
TOTAL
(A) |
0.613 |
0.384 |
0.115 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Employees benefits expense |
0.000 |
0.000 |
0.125 |
|
|
Other expenses |
1.183 |
0.441 |
0.210 |
|
|
TOTAL
(B) |
1.183 |
0.441 |
0.335 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
(0.570) |
(0.057) |
(0.220) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(0.570) |
(0.057) |
(0.220) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
(0.570) |
(0.057) |
()0.220 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
0.004 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
(0.574) |
(0.057) |
(0.220) |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(13.342) |
(13.285) |
(13.065) |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
(13.916) |
(13.342) |
(13.285) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(0.12) |
(0.04) |
(0.22) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
(93.64) |
(14.84) |
(191.30) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.00 |
0.00 |
(220.00) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.78) |
(0.52) |
(36.18) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.01) |
(0.01) |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.60 |
0.59 |
(1.18) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.37 |
1.52 |
15.94 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
10.000 |
20.000 |
88.920 |
|
Reserves & Surplus |
(13.285) |
(13.342) |
(13.916) |
|
Net
worth |
(3.285) |
6.658 |
75.004 |
|
|
|
|
|
|
long-term borrowings |
3.876 |
3.920 |
45.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
3.876 |
3.920 |
45.000 |
|
Debt/Equity
ratio |
(1.180) |
0.589 |
0.600 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
0.100 |
0.000 |
0.000 |
|
|
|
(100.000) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
0.100 |
0.000 |
0.000 |
|
Profit |
(0.220) |
(0.057) |
(0.574) |
|
|
(220.00%) |
|
|
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS: NOT AVAILABLE
|
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 |
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 |
No |
|
24] |
Banking facility details |
No |
|
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 |
INDEX
OF CHARGES: NO CHARGES EXIST FOR COMPANY
NOTE: The registered office of the company has been
shifted from Reliance Corporate Park, Building No.4, Ground Floor, 'C' Wing,
Thane-Belapur Road, Ghansoli, Navi Mumbai - 400701, Maharashtra, India to the present
w.e.f.15.12.2011
BUSINESS REVIEW
The Company has been granted the certificate of authorization for issuance and operation of semi closed prepaid instruments by the Reserve Bank of India (RBI) in September 2013 and was provided six months by RBI to operationalize the Jio Money business.
In March 2014, the Company informed RBI about operationalizing the Disaster Recovery site and launch of the semi closed prepaid payment instrument services. The Company is currently focusing on expanding distribution width, building strong use cases as well as strengthening our processes so as to develop a strong value proposition for our customers for all India launch scheduled for financial year 2014 – 15.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from others |
45.000 |
3.920 |
|
|
|
|
|
Total |
45.000 |
3.920 |
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.61.11 |
|
|
1 |
Rs.98.15 |
|
Euro |
1 |
Rs.77.68 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
32 |
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.