MIRA
INFORM REPORT
|
Report Date : |
11.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
JEANS KNIT PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
21, E1 2nd Phase, Industrial Area, Peenya, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
20.09.2004 |
|
|
|
|
Com. Reg. No.: |
08-034722 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U18101KA2004PTC034722 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCJ4513B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Readymade Garments |
|
|
|
|
No. of Employees
: |
300 (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 |
|
Maximum Credit Limit : |
USD 13500000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having good track record. There is a dip in profit of the company in the year 2013. However,
liquidity position is strong and healthy. Rating also takes into
consideration established market position in denim export market. Trade relation reported to be fair. Business is active. Payments terms
are reported to be regular and as per commitment. The company can be considered normal for business dealing 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.
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
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes tat many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization policies.
A firm called Ciane Analytics studied returns from assets including
equities, gold, fixed deposits, G-Secs and real estate since 1991. Real estate
outperformed every other asset classes during the 23-year period with an
annualized return of 20 % ! Equities came in second with annualized return of
15.5 % ! However, while these returns may seem mouthwatering, the fact is that
the return from equities adjusted for inflation came down to just 7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating A |
|
Rating Explanation |
Adequate degree of safety and low credit
risk |
|
Date |
June 26, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating A1 |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk |
|
Date |
June 26, 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
|
Name : |
Mr. Nagesh |
|
Designation : |
Accounts Executives |
|
Contact No.: |
91-80-42865000 |
|
Date : |
03.09.2014 |
LOCATIONS
|
Registered Office / Factory : |
21, E1 2nd Phase, Industrial Area, Peenya, Bangalore –
560058, Karnataka, India |
|
Tel. No.: |
91-80-28397511/ 42865000/ 42865100/ 42865200 |
|
Fax No.: |
91-80-28398320/ 28371237 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mrs. Laxmi Narayan Gaur |
|||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Additional Director |
|||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
14-69, 8 MN Raj Building 52 – CRS, 4 – BLK, Bangalore – 560010,
Karnataka, India. |
|||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
21.10.1956 |
|||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
30.09.2010 |
|||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00167068 |
|||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Jacqueline Antonette Thomas |
|||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Alternate Director |
|||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
424, 8th D Main, 4th Cross HRBR Layout,
Banasawadi Extension, Bangalore – 560043, Karnataka, India |
|||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
28.04.1973 |
|||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
12.01.2007 |
|||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00926874 |
|||||||||||||||||||||||||||||||||||||||||||||
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U18101KA2002PTC030686 |
FIBRES AND
FABRICS INTERNATIONAL PRIVATE LIMITED |
Alternate
director |
12/01/2007 |
14/08/2006 |
- |
Active |
NO |
|
2 |
U18101KA2004PTC034722 |
JEANS KNIT
PRIVATE LIMITED |
Alternate
director |
12/01/2007 |
14/08/2006 |
- |
Active |
NO |
|
3 |
U17120KA2013PTC070592 |
FFI FASHIONS
PRIVATE LIMITED |
Director |
19/08/2013 |
19/08/2013 |
- |
Active |
NO |
|
Name : |
Mr. Anupam Suryakant Kothari |
|
Designation : |
Director |
|
Address : |
Chateau Per Igord 13, Lacets Sint Leon, Monaco - 98000 |
|
Date of Birth/Age : |
22.06.1967 |
|
Date of Appointment : |
20.09.2004 |
KEY EXECUTIVES
|
Name : |
Mr. Nagesh |
|
Designation : |
Accounts Executives |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Anupam Suryakant Kothari |
10000 |
|
Jacqueline Antonette Thomas |
01 |
|
|
|
|
Total
|
10001 |
As on: 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Readymade Garments |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Exports : |
|
||||
|
Products : |
Finished Goods |
||||
|
Countries : |
European Countries |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
L/C and Credit |
||||
|
|
|
||||
|
Purchasing : |
L/C and Credit |
GENERAL INFORMATION
|
Customer : |
End Users |
||||||||||||||||
|
|
|
||||||||||||||||
|
No. of Employees : |
300 (Approximately) |
||||||||||||||||
|
|
|
||||||||||||||||
|
Bankers : |
·
Standard Chartered Bank, No. 112, 'Serenity',
Koramangala Industrial Area,5th Block, Koramangala, Bangalore -
560095,Karnataka, India ·
Standard Chartered Bank, Raheja Towers, Sixth
Floor, No. 26 - 27, M. G. Road, Bangalore - 560001, Karnataka, India ·
The Hongkong And Shanghai Banking Corporation
Limited7 M G Road, , Bangalore - 560001,Karnataka, India |
||||||||||||||||
|
|
|
||||||||||||||||
|
Facilities : |
|
|
|||||||||||||||
|
Banking
Relations : |
-- |
||||
|
|
|
||||
|
Auditors : |
|
||||
|
Name : |
ASA and Associates Chartered Accountants |
||||
|
Address : |
A – 2 Ground Floor, Akruti Antara Apartment, No. 11/1 Haudin Road,
Banglore – 560042, Karnataka, India |
||||
|
Tel. No.: |
91-80-41510751 |
||||
|
PAN No. : |
AAASA4690A |
||||
|
|
|
||||
|
Associates : |
· Tintoria Astico S.R.I, Italy ·
Fibers and Fabrics International Private
Limited, India CIN
No. : U51109WB1951PTC020058
·
FFI Global SRL, Italy |
CAPITAL STRUCTURE
As on: 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10001 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
|
|
|
|
|
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 |
0.100 |
0.100 |
0.100 |
|
(b) Reserves & Surplus |
3358.824 |
2930.230 |
2308.640 |
|
(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) |
3358.924 |
2930.330 |
2308.740 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
24.354 |
117.832 |
149.093 |
|
(b) Deferred tax liabilities (Net) |
14.450 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
66.415 |
54.606 |
53.212 |
|
Total Non-current Liabilities (3) |
105.219 |
172.438 |
202.305 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1212.537 |
669.387 |
346.201 |
|
(b) Trade payables |
290.676 |
634.664 |
242.609 |
|
(c) Other current
liabilities |
236.723 |
274.876 |
318.188 |
|
(d) Short-term provisions |
73.543 |
68.662 |
74.912 |
|
Total Current Liabilities (4) |
1813.479 |
1647.589 |
981.910 |
|
|
|
|
|
|
TOTAL |
5277.622 |
4750.357 |
3492.955 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1591.699 |
1482.557 |
1100.057 |
|
(ii) Intangible Assets |
77.496 |
77.805 |
77.068 |
|
(iii) Capital
work-in-progress |
6.811 |
3.079 |
2.012 |
|
(iv)
Intangible assets under development |
47.281 |
27.010 |
0.842 |
|
(b) Non-current Investments |
212.511 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
18.938 |
11.187 |
|
(d) Long-term Loan and Advances |
606.599 |
486.367 |
326.634 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
2542.397 |
2095.756 |
1517.800 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1338.103 |
1294.776 |
1049.612 |
|
(c) Trade receivables |
1223.386 |
1114.692 |
830.108 |
|
(d) Cash and cash
equivalents |
19.348 |
86.244 |
10.663 |
|
(e) Short-term loans and
advances |
97.226 |
158.889 |
84.772 |
|
(f) Other current assets |
57.162 |
0.000 |
0.000 |
|
Total Current Assets |
2735.225 |
2654.601 |
1975.155 |
|
|
|
|
|
|
TOTAL |
5277.622 |
4750.357 |
3492.955 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5708.212 |
5029.318 |
3828.867 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
5127.761 |
4250.140 |
3388.009 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
428.594 |
621.589 |
347.133 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2690.677 |
2069.088 |
1974.115 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
3119.271 |
2690.677 |
2069.088 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
5170.093 |
4172.517 |
NA |
|
|
TOTAL EARNINGS |
5170.093 |
4172.517 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
42855.11 |
62152.68 |
34709.83 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.37
|
0.27
|
0.21 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.51
|
1.61
|
2.01 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
0.100 |
0.100 |
0.100 |
|
Reserves & Surplus |
2,308.640 |
2,930.230 |
3,358.824 |
|
Net
worth |
2,308.740 |
2,930.330 |
3,358.924 |
|
|
|
|
|
|
long-term borrowings |
149.093 |
117.832 |
24.354 |
|
Short term borrowings |
346.201 |
669.387 |
1,212.537 |
|
Total
borrowings |
495.294 |
787.219 |
1,236.891 |
|
Debt/Equity
ratio |
0.215 |
0.269 |
0.368 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
3,828.867 |
5,029.318 |
5,708.212 |
|
|
|
31.353 |
13.499 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
3,828.867 |
5,029.318 |
5,708.212 |
|
Profit After Tax |
347.133 |
621.589 |
428.594 |
|
|
9.07% |
12.36% |
7.51% |
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 |
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 |
Yes |
|
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 |
UNSECURED LOAN:
|
Particulars |
31.03.2013 [Rs.
in Millions] |
31.03.2012 [Rs.
in Millions] |
|
Long Term Borrowing
|
|
|
|
Loans and advance from directors |
24.354 |
117.832 |
|
|
|
|
|
Total |
24.354 |
117.832 |
DETAIS
OF LITIGATION:
CASE PENDING
|
High
Court of Karnataka -Bangalore Bench |
ITA
383/2012 |
|
THE
DIRECTOR OF INCOME -TAX |
Respondent/Defnt.
Name |
M/S
JEANS KNIT PVT LTD |
|||
|
Petnr./Appnt.
Advocate |
K V
ARAVIND |
Respnt./Defnt.
Advocate |
|
||
|
Date
Filed |
20/11/2012 |
Classification |
|
District |
Bangalore
City |
|
Stage |
HEARING |
Last
Posted For |
ORDERS |
||
|
Last
Action Taken |
ADMIT/RULE |
Last
Date of Action |
01/03/2013 |
Next
Hearing Date |
25/04/2013 |
|
Latest
Order |
|
||||
|
Before
Hon'ble Judge/s |
REGISTRAR
(JUDICIAL) |
||||
Lower
Court Details [Appeal from below case.]
|
Case
No |
Court
Name |
Disposal
Dt |
|
ITA
19/2010 |
INCOME
-TAX APPELLATE TRIBUNAL BANGALORE |
29/06/2012 |
Details
of the Daily Order
(Click on date of order to get full order)
INDEX CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10340933 |
22/02/2013 * |
350,000,000.00 |
Standard
Chartered Bank |
NO. 112,
'SERENITY', KORAMANGALA INDUSTRIAL AREA, |
B69643237 |
|
2 |
10279645 |
02/01/2012 * |
350,000,000.00 |
STANDARD
CHARTERED BANK |
RAHEJA TOWERS,
SIXTH FLOOR, NO. 26 - 27, M. G. RO |
B29457256 |
|
3 |
10220268 |
13/03/2013 * |
1,200,000,000.00 |
Standard
Chartered Bank |
NO. 112,
'SERENITY', KORAMANGALA INDUSTRIAL AREA, |
B71017743 |
* Date of charge modification
FIXED ASSETS
· Goodwill
· Leasehold Land
· Improvements to Buildings
· Garments Production Machines
· Garment Process Plant
· Infrastructure
· Water Pollution Control Equipment
· Plant and Machinery
· Material Handling Equipment
· Cut Room Equipment
· Electrical Fittings
· Office Equipment’s
· IT Equipment’s
· Software
· Furniture and Fixtures
· Vehicle
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.60.82 |
|
|
1 |
Rs.98.15 |
|
Euro |
1 |
Rs.78.66 |
INFORMATION DETAILS
|
Information Gathered
by : |
JML |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--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.