MIRA
INFORM REPORT
|
Report Date : |
29.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
ROQUETTE RIDDHI SIDDHI PRIVATE LIMITED (w.e.f. 08.04.2013) |
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Formerly Known
As : |
RIDDHI SIDDHI CORN PROCESSING PRIVATE LIMITED |
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Registered
Office : |
12A and 14B, Abhishree Corporate Park, Opposite Madhurya Restaurant,
Ambli - Bopal Road, Ambli, Ahmedabad – 380058, Gujarat |
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Country : |
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Financials (as on)
: |
31.03.2014 |
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Date of
Incorporation : |
25.08.2010 |
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Com. Reg. No.: |
04-062115 |
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Capital
Investment / Paid-up Capital : |
Rs.200.000 Millions |
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CIN No.: [Company Identification
No.] |
U15326GJ2010PTC062115 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
AHMR07105A |
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PAN No.: [Permanent Account No.] |
AAFCR2758G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Maize Starch Powder. |
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No. of Employees
: |
1000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company having fine track. The ratings reflect Roquette Riddhi’s established market position and
its strong operating efficiencies. The ratings also reflect its healthy
financial risk profile marked by high networth, low gearing and comfortable
debt protection metrics. Directors are reported to be experienced and respectable businessmen. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. In view of technical, financial and operational support extended by
its reputed parent, the company can be considered good for normal 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
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = A |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
30.08.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A1 |
|
Rating Explanation |
Very strong degree of safety and lowest credit
risk. |
|
Date |
30.08.2013 |
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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Sushil |
|
Designation : |
Accountant |
|
Contact No.: |
91-79-71021000 |
|
Date : |
27.10.2014 |
LOCATIONS
|
Registered Office : |
12A and 14B, Abhishree Corporate Park, Opposite Madhurya Restaurant,
Ambli - Bopal Road, Ambli, Ahmedabad – 380058, Gujarat, India |
|
Tel. No.: |
91-79-71021050 / 71021015 / 71021000 |
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Fax No.: |
91-79-71021011 |
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E-Mail : |
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Website : |
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Factory 1 : |
Plot No.12, Sector – 9, IIE, SIDCUL, Pant Nagar, Rudrapur,
Udham Singh Nagar – 263153, Uttarakhand, India |
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Tel. No.: |
91-5944-250241 / 42 / 428 |
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Fax No.: |
91-5944-250240 |
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Factory 2 : |
Post Box No. 9, Gokak Falls Road, Gokak, Belgaum – 591307,
Karnataka, India |
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Tel. No.: |
91-8332-229240 / 41 / 42 |
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Fax No.: |
91-8332-226721 / 227266 |
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Factory 3 : |
Block No.51-52, Riddhi Siddhi Nagar, Village – Juna Paddar,
Becharaji Road, Viramgam, Ahmedabad – 382150, Gujarat, India |
|
Tel. No.: |
91-2715-234182 / 234181 |
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Marketing Offices : |
Located at: ·
New Delhi ·
Bangalore ·
Mumbai ·
Chennai |
DIRECTORS
As on 03.07.2013
|
Name : |
Mr. Ganpatraj Lalchand Chowdhary |
|
Designation : |
Managing director |
|
Address : |
1/B, Natraj Society, Gulbai Tekra, Ambawadi, Ahmedabad – 380009,
Gujarat, India |
|
Date of Birth/Age : |
23.03.1963 |
|
Qualification : |
B. Com |
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Experience : |
24 Years |
|
Date of Appointment : |
25.08.2010 |
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PAN No.: |
ABWPL2726K |
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DIN No.: |
00344816 |
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|
Name : |
Mr. Abhey Yograj |
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Designation : |
Director |
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Address : |
N-94, Panchshil Park, New Delhi – 110017, India |
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Date of Birth/Age : |
01.09.1943 |
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Date of Appointment : |
21.02.2013 |
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DIN No.: |
00029998 |
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|
Name : |
Michel Pascal Andre Payet Gaspard |
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Designation : |
Director |
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Address : |
8 Avenue, Saint Honore D Eylau, Paris 75116 France |
|
Date of Birth/Age : |
16.11.1947 |
|
Date of Appointment : |
28.05.2013 |
|
DIN No.: |
01201755 |
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|
Name : |
Marc Philippe Bernard Marie Joseph Roquette |
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Designation : |
Director |
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Address : |
14, Avenue Pasteur 59130, Lambersart 62080 France |
|
Date of Birth/Age : |
17.02.1953 |
|
Date of Appointment : |
29.05.2012 |
|
DIN No.: |
01317175 |
KEY EXECUTIVES
|
Name : |
Mr. Sushil |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS
As on 03.07.2013
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Whiteline Consultancy Services Private Limited, India |
5200000 |
26.00 |
|
Roquette Freres, France |
14800000 |
74.00 |
|
Total |
20000000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 03.07.2013
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
74.00 |
|
Bodies corporate |
26.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Maize Starch Powder. |
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Products : |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
·
Nigeria ·
Middle East |
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Terms : |
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Selling : |
Cash, L/C and Credit |
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Purchasing : |
Cash, L/C and Credit |
GENERAL INFORMATION
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No. of Employees : |
1000 (Approximately) |
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Bankers : |
· ICICI Bank, Zonal House, 9th Floor, JMC House, Opposite Parimal Garden, Ambavadi, Ahmedabad - 380006, Gujarat, India · Oriental Bank of Commerce, Hotel Meghdut Building, Station Road, Ahmedabad - 380002, Gujarat, India · Indian Overseas Bank, Ashram Road Branch, Ashram Road, Ahmedabad - 380009, Gujarat, India · Standard Chartered Bank, Abhijit-II, Ground Floor, Near Mithakhali Six Roads, Ahmedabad - 380006, Gujarat, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
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Address : |
Heritage, 3rd Floor, Near Gujarat Vidyapith, Off
Ashram Road, Ahmedabad – 380014, Gujarat, India |
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PAN No.: |
AABFD7919A |
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Holding Company : |
Riddhi Siddhi Gluco Biols Limited (till 14th May , 2012) White line Consultancy Services Private Limited (From 15th May, 2012 till 29th May, 2012 and having significant influence on the Company w.e.f. 30th May, 2012) Roquette Frères (From 30th May, 2012 ) |
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Fellow Subsidiaries
: |
Roquette Singapore PTE Limited |
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Enterprise where Directors have
significant influence or control : |
Riddhi Siddhi Gluco Biols Limited CIN No.: L24110GJ1990PLC013967 |
CAPITAL STRUCTURE
As on 03.07.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 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 |
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|
|
|
(a) Share Capital |
200.000 |
200.000 |
0.500 |
|
(b) Reserves & Surplus |
9,397.020 |
8,959.621 |
83.339 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
2.000 |
0.000 |
20.000 |
|
Total Shareholders’
Funds (1) + (2) |
9,599.020 |
9,159.621 |
103.839 |
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
5,001.768 |
1,857.469 |
756.682 |
|
(b) Deferred tax liabilities (Net) |
393.822 |
218.456 |
65.680 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
16.775 |
16.039 |
2.117 |
|
Total Non-current Liabilities (3) |
5,412.365 |
2,091.964 |
824.479 |
|
|
|
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|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
2,155.851 |
3,851.553 |
1,528.498 |
|
(b) Trade payables |
634.246 |
493.548 |
481.515 |
|
(c) Other current
liabilities |
517.012 |
330.023 |
10,270.333 |
|
(d) Short-term provisions |
51.246 |
3.236 |
54.072 |
|
Total Current Liabilities (4) |
3,358.355 |
4,678.360 |
12,334.418 |
|
|
|
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TOTAL |
18,369.740 |
15,929.945 |
13,262.736 |
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II.
ASSETS |
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|
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|
(1) Non-current assets |
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(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
8,729.547 |
8,740.443 |
9,371.002 |
|
(ii) Intangible Assets |
878.086 |
1,084.216 |
1,290.346 |
|
(iii) Capital
work-in-progress |
2,022.887 |
167.100 |
5.032 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.735 |
0.670 |
0.630 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2,007.774 |
1,419.255 |
37.048 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
13,639.029 |
11,411.684 |
10,704.058 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1,949.192 |
1,891.558 |
900.862 |
|
(c) Trade receivables |
1,650.991 |
1,454.395 |
1,378.166 |
|
(d) Cash and cash
equivalents |
975.167 |
997.153 |
119.694 |
|
(e) Short-term loans and
advances |
128.151 |
100.158 |
78.381 |
|
(f) Other current assets |
27.210 |
74.997 |
81.575 |
|
Total Current Assets |
4,730.711 |
4,518.261 |
2,558.678 |
|
|
|
|
|
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TOTAL |
18,369.740 |
15,929.945 |
13,262.736 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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SALES |
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Income |
14,417.088 |
13094.01 |
6193.911 |
|
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Other Income |
25.315 |
53.256 |
13.241 |
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TOTAL (A) |
14,442.403 |
13,147.266 |
6,207.152 |
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Less |
EXPENSES |
|
|
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||
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|
TOTAL (B) |
12,338.518 |
11,075.067 |
5,399.090 |
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PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2,103.885 |
2,072.199 |
808.062 |
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Less |
FINANCIAL
EXPENSES (D) |
355.657 |
458.075 |
126.15 |
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PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
1,748.228 |
1,614.124 |
681.912 |
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Less |
DEPRECIATION/
AMORTISATION (F) |
1,017.106 |
986.917 |
490.629 |
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PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
731.122 |
627.207 |
191.283 |
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Less |
TAX (H) |
289.186 |
115.757 |
107.881 |
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PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
441.936 |
511.450 |
83.402 |
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IMPORTS |
|
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|
Raw Materials |
NA |
1.431 |
5.968 |
|
|
|
|
Stores & Spares |
NA |
11.841 |
2.082 |
|
|
|
|
Capital Goods |
NA |
56.998 |
0.000 |
|
|
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TOTAL IMPORTS |
NA |
70.270 |
8.050 |
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|
Earnings /
(Loss) Per Share (Rs.) |
22.10 |
25.57 |
1668.04 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
3.06 |
3.89 |
1.34 |
|
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|
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|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.07 |
4.79 |
3.09 |
|
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|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.47 |
3.98 |
1.44 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
0.07 |
1.84 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.75 |
0.62 |
22.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.41 |
0.97 |
0.21 |
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 |
0.500 |
200.000 |
200.000 |
|
Reserves & Surplus |
83.339 |
8959.621 |
9397.020 |
|
Share Application money pending allotment |
20.000 |
0.000 |
2.000 |
|
Net
worth |
103.839 |
9159.621 |
9599.020 |
|
|
|
|
|
|
Long Term borrowings |
756.682 |
1857.469 |
5001.768 |
|
Short Term borrowings |
1528.498 |
3851.553 |
2155.851 |
|
Total
borrowings |
2285.180 |
5709.022 |
7157.619 |
|
Debt/Equity
ratio |
22.007 |
0.623 |
0.746 |
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 |
6,193.911 |
13,094.010 |
14,417.088 |
|
|
|
111.401 |
10.104 |
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
|
6,193.911 |
13,094.010 |
14,417.088 |
|
Profit |
83.402 |
511.450 |
441.936 |
|
|
1.35% |
3.91% |
3.07% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
Rs.
In Millions
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current maturities of long term debt |
345.466 |
249.531 |
242.634 |
|
Total |
345.466 |
249.531 |
242.634 |
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
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 |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------- |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Millions |
31.03.2013 Rs. In Millions |
|
LONG TERM BORROWINGS |
|
|
|
Term loans from others |
4550.000 |
1250.000 |
|
Deferred sales tax loan |
448.514 |
498.690 |
|
SHORT TERM BORROWINGS |
|
|
|
Working capital loans from banks |
1779.000 |
0.000 |
|
Total |
6777.514 |
1748.690 |
CORPORATE INFORMATION
The Company was incorporated on August 25, 2010 with its object to acquire and carry the Corn-Wet milling business including industrial undertakings located at Viramgam, Gokak and Rudrapur, respectively on a going concern basis from Riddhi Siddhi Gluco Biols Limited pursuant to Scheme of Arrangement (‘Scheme’) under sections 391 and 394 of the Companies Act, 1956.
Pursuant to the Scheme of Arrangement under section 391 and 394 of the Companies Act, 1956, between the Company and Riddhi Siddhi Gluco Biols Limited becoming operative with effect from May 29, 2012 (‘the effective date’) the Corn-Wet milling business including industrial undertakings located at Viramgam, Gokak and Rudrapur, respectively and corresponding assets and liabilities of Riddhi Siddhi Gluco Biols Limited have vested with the Company retrospectively from October 1, 2011 (‘the appointed date’). Accordingly, previous year Statement of Profit and Loss, the Balance Sheet and the Cash flow dealt with the results of the activities carried out by Riddhi Siddhi Gluco Biols Limited in trust for the Company pending the scheme becoming operative.
The Shareholders’ of the Company at their meeting dated 18th March 2013 have changed the Company’s name from Riddhi Siddhi Corn Processing Private limited to Roquette Riddhi Siddhi Private Limited. The same was approved by the Registrar of Companies on April 8, 2013.
SANCTION OF SCHEME OF
AMALGAMATION
During the year the Hon’ble High Court of Gujarat sanctioned the Scheme of Arrangement in the nature of Amalgamation between Roquette India Private Limited with the Company vide it’s order dated 21st February, 2014 while approval from the Bombay High court was received on 9th May, 2014. Necessary Form no. INC-28 was filed with the office of Registrar of the Companies, Gujarat on 17th June, 2014 and accordingly the scheme became effective from that date. The appointed date as per the scheme is 1st April, 2013.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10479379 |
30/01/2014 |
2,650,000,000.00 |
ICICI BANK |
Zonal House, 9th Floor, JMC House, Opposite Parimal Garden, Ambavadi, Ahmedabad, Gujarat - 380006, India |
B97106678 |
|
2 |
10366476 |
29/05/2012 |
372,104,000.00 |
Standard Chartered Bank |
Abhijit-II, Ground Floor, Near Mithakhali Six Roads, Ahmedabad, Gujarat - 380006, India |
B44153518 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
NEWS:
DECKS CLEARED FOR ROQUETTE TO BUY RSGBL'S
STARCH BUSINESS
Decks have been cleared for French starch player, Roquette Freres to acquire starch business of Ahmedabad-based Riddhi Siddhi Gluco Biols Limited (RSGBL). The company on Wednesday informed that an order sanctioning the scheme of arrangement for stake sale has been received from the Gujarat high court on May 1, 2012.
The company has de-merged and transferred its starch making and warehousing business to Riddhi Siddhi Corn Processing Private Limited. As per the scheme of arrangement Roquette would subscribe for and acquire majority stake in the resulting company - Riddhi Siddhi Corn Processing Private Limited.
Initially, Roquette would acquire about 60 per cent stake in RSGBL's starch business. World's third largest starch player, Roquette had acquired minority stake in the company through preferential allotment in 2006. "As per understanding Roquette is entitled to acquire up to 100 per cent of the shareholding of RSGBL in the resulting company," said statement filed with the Bombay Stock Exchange (BSE).
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.61.35 |
|
UK Pound |
1 |
Rs.98.93 |
|
Euro |
1 |
Rs.77.92 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
54 |
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.