MIRA
INFORM REPORT
|
Report Date : |
24.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
NAVNITLAL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Office No. 807, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
07.09.1994 |
|
|
|
|
Com. Reg. No.: |
11-080906 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 212.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17120MH1994PTC080906 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMN04514G / MUMN11529A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACN1829P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of Grey Fabrics. |
|
|
|
|
No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
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 |
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|
|
Comments : |
Subject is established company having moderate track. The rating takes into consideration the previous year (i.e. 2012) loss
incurred by a company and very thin profit margin during 2013. However, trade relations are reported as fair. Business is active.
Payments terms are reported to be slow but correct. The company can be considered for business dealings with some caution.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks
over coal supply contracts, uncertainty over cancellation of blocks weigh on
stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
India Rating |
|
Rating |
FUND-BASED LIMITS = B+ |
|
Rating Explanation |
High risk of default |
|
Date |
28.08.2013 |
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
|
Name : |
Mr. Gardi |
|
Designation : |
Accounts Officer |
|
Contact No.: |
91-22-22833954 |
|
Date : |
22.09.2014 |
LOCATIONS
|
Registered Office : |
Office No. 807, |
|
Tel. No.: |
91-22-27804200 / 67804299 |
|
Tel. No.: |
91-22-22026215 |
|
E-Mail : |
|
|
Website : |
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|
|
|
|
Factory : |
|
DIRECTORS
As on 31.03.2013
|
Name : |
Mr. Lalit P. Desai |
|
Designation : |
Director |
|
Address : |
Fortune, 2nd Floor, |
|
Date of Birth/Age : |
25.02.1947 |
|
Date of Appointment : |
07.09.1994 |
|
DIN No.: |
00202901 |
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 |
U65990MH1993PTC073016 |
NAVNITLAL AND COMPANY INVESTMENT PRIVATE LIMITED |
Director |
20-07-93 |
20-07-93 |
- |
Active |
NO |
|
2 |
U17120MH1994PTC080906 |
NAVNITLAL PRIVATE LIMITED |
Director |
07-09-94 |
07-09-94 |
- |
Active |
NO |
|
3 |
U67120MH2001PTC134152 |
NAVNEETLAL HOLDINGS (INDIA ) PRIVATE LIMITED |
Director |
07-12-01 |
07-12-01 |
- |
Active |
NO |
|
|
|
|
Name : |
Mr. Arun D. Desai |
|
Designation : |
Director |
|
Address : |
71, |
|
Date of Birth/Age : |
11.12.1940 |
|
Date of Appointment : |
10.03.2003 |
|
DIN No.: |
02468023 |
|
|
|
|
Name : |
Mr. Mihir L. Desai |
|
Designation : |
Whole Time Director |
|
Address : |
Fortune, 2nd Floor, |
|
Date of Birth/Age : |
11.10.1972 |
|
Date of Appointment : |
15.10.2003 |
|
DIN No.: |
00223672 |
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 |
U65990MH1993PTC073016 |
NAVNITLAL AND COMPANY INVESTMENT PRIVATE LIMITED |
Director |
25-11-02 |
25-11-02 |
- |
Active |
NO |
|
2 |
U17120MH1994PTC080906 |
NAVNITLAL PRIVATE LIMITED |
Whole-time director |
15-10-03 |
15-10-03 |
- |
Active |
NO |
|
|
|
|
Name : |
Mr. Rishit L. Desai |
|
Designation : |
Whole Time Director |
|
Address : |
Fortune, 2nd Floor, |
|
Date of Birth/Age : |
11.10.1972 |
|
Date of Appointment : |
24.04.2004 |
|
DIN No.: |
00223648 |
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 |
U65990MH1993PTC073016 |
NAVNITLAL AND COMPANY INVESTMENT PRIVATE LIMITED |
Director |
25-11-02 |
25-11-02 |
- |
Active |
NO |
|
2 |
U17120MH1994PTC080906 |
NAVNITLAL PRIVATE LIMITED |
Director |
24-04-04 |
24-04-04 |
- |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Gardi |
|
Designation : |
Accounts Officer |
MAJOR SHAREHOLDERS
As on 28.08.2013
|
Names of Shareholders |
No. of Shares |
|
Itochu Corporation, |
3154000 |
|
Navneetlal Holding India Private Limited, India |
13680000 |
|
Lalit P. Desai |
1163000 |
|
Pushpa L. Desai |
1000 |
|
Mihir L. Desai |
1000 |
|
Rishit L. Desai |
1000 |
|
Wrengate Limited, Manchester |
1556800 |
|
Botraco Limited, Manchester |
1643200 |
|
Total |
21200000 |
Equity Share Break up (Percentage of Total Equity)
As on 28.08.2013
|
Category |
Percentage of Holding |
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
30.00 |
|
Bodies
corporate |
64.50 |
|
Directors
or relatives of directors |
5.50 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Grey Fabrics. |
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Products : |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash and Credit (30 days) |
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Purchasing : |
L/C, Cash and Credit (30 days) |
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers, End Users and OEM’s |
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No. of Employees : |
200 (Approximately) |
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Bankers : |
·
Bank of India, Andheri Corporate Banking Branch, M.D.
Building, S.V. Road, Andheri (West), Mumbai-400058, Maharashtra, India ·
Corporation Bank ·
Axis Bank Limited, Western Zonal Office
,Fortune-2000 "C" Wing, Ground Floor, Bandra Kurla Complex, Bandra
(E), Mumbai - 400051, Maharashtra, India |
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Facilities : |
SECURED LOAN (Rs.
In Millions)
|
|
|
|
|
Banking Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
D.S. Gala and Company Chartered Accountant |
|
Address : |
14-D, Roy Villa, Kalina, Santacruz (East), Mumbai-400029, Maharashtra,
India |
|
Tel. No.: |
91-22-26660961 |
|
Fax No.: |
91-22-26654880 |
|
|
|
|
Holding Company: |
Navneetlal Holdings (India) Private Limited (CIN NO. : U67120MH2001PTC134152) |
|
|
|
|
Associate: |
|
CAPITAL STRUCTURE
As on 28.08.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
21200000 |
Equity Shares |
Rs.10/- each |
Rs.212.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
21200000 |
Equity Shares |
Rs.10/- each |
Rs.212.000 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 |
212.000 |
212.000 |
212.000 |
|
(b) Reserves & Surplus |
171.506 |
171.205 |
15.179 |
|
(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) |
383.506 |
383.205 |
227.179 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
52.685 |
68.181 |
85.187 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.019 |
0.008 |
0.017 |
|
(d) long-term provisions |
0.840 |
0.302 |
1.192 |
|
Total Non-current Liabilities (3) |
53.544 |
68.491 |
86.396 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
195.077 |
218.408 |
190.309 |
|
(b) Trade payables |
33.766 |
58.779 |
54.804 |
|
(c) Other current
liabilities |
28.497 |
32.482 |
39.778 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities (4) |
257.340 |
309.669 |
284.891 |
|
|
|
|
|
|
TOTAL |
694.390 |
761.365 |
598.466 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
432.002 |
450.628 |
296.891 |
|
(ii) Intangible Assets |
0.239 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.089 |
0.000 |
|
(iv) Intangible
assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
37.113 |
37.378 |
23.640 |
|
(d) Long-term Loan and Advances |
15.421 |
14.562 |
15.642 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
484.775 |
502.657 |
336.173 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
130.866 |
152.797 |
193.001 |
|
(c) Trade receivables |
65.356 |
92.254 |
56.490 |
|
(d) Cash and cash
equivalents |
2.099 |
2.915 |
3.779 |
|
(e) Short-term loans and
advances |
11.294 |
10.742 |
9.023 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
209.615 |
258.708 |
262.293 |
|
|
|
|
|
|
TOTAL |
694.390 |
761.365 |
598.466 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
801.340 |
631.178 |
619.297 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
752.506 |
610.440 |
555.893 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
48.834 |
20.738 |
63.404 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
28.479 |
30.613 |
30.345 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
20.355 |
(9.875) |
33.059 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
19.592 |
31.582 |
32.733 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
0.763 |
(41.457) |
0.326 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.462 |
(13.701) |
(3.844) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
0.301 |
(27.756) |
4.170 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(97.350) |
(69.594) |
(73.764) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(97.049) |
(97.350) |
(69.594) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
0.01 |
(1.31) |
0.20 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
640.000 |
|
|
|
|
|
Expected Sales (2014-15) : Rs. 640.000 Millions
The above information has been parted by Mr. Gardi (Account Officer).
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.04 |
(4.40) |
0.67 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.10 |
(6.57) |
0.05 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.12 |
(5.73) |
0.06 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00 |
(0.11) |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.65 |
0.75 |
1.21 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.81 |
0.84 |
0.92 |
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 |
212.000 |
212.000 |
212.000 |
|
Reserves & Surplus |
15.179 |
171.205 |
171.506 |
|
Net
worth |
227.179 |
383.205 |
383.506 |
|
|
|
|
|
|
long-term borrowings |
85.187 |
68.181 |
52.685 |
|
Short term borrowings |
190.309 |
218.408 |
195.077 |
|
Total
borrowings |
275.496 |
286.589 |
247.762 |
|
Debt/Equity
ratio |
1.213 |
0.748 |
0.646 |
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) |
|
Total Income |
619.297 |
631.178 |
801.340 |
|
|
|
1.918 |
26.959 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
619.297 |
631.178 |
801.340 |
|
Profit |
4.170 |
-27.756 |
0.301 |
|
|
0.67% |
-4.40% |
0.04% |
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 |
Yes |
|
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and Advances from directors |
24.700 |
19.500 |
|
Loans and advances from others |
3.450 |
7.150 |
|
Total |
28.150 |
26.650 |
Note:
The registered office of the company has been shifted from
116 Maker Chambers Vi220 Nariman Point, Mumbai-400021, Maharashtra, India to present address
w.e.f. 21.09.2006
PERFORMANCE
During the year the Company realized sales income of Rs.794.724 Millions as against Rs.613.458 Millions of the previous financial year.
CURRENT YEAR OUTLOOK
The Directors are taking effective steps to maintain its operations in the cyclical changes in the both domestic as well as international market of Textile Industry. Considering the Industry’s performance your directors are taking cautious view for growth in current Financial Year.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10445979 |
26/08/2013 |
50,000,000.00 |
PNB HOUSING FINANCE LIMITED |
9TH FLOORANTRIKSH BHAWAN, 22 K G MARG, NEW DELHI- 110001, |
B83526079 |
|
2 |
10036739 |
05/01/2007 |
30,000,000.00 |
BANK OF INDIA |
ANDHERI CORPORATE BANKING BRANCH, 28, M.D.I BUILDING, S. V. ROAD, ANDHERI (WEST), MUMBAI-400058, MAHARASHTRA, INDIA |
A10213049 |
|
3 |
80065124 |
20/04/2012 * |
135,000,000.00 |
CORPORATION BANK |
EARNEST HOUSE, 1ST FLOOR, NARIMAN POINT, MUMBAI- 400021, MAHARASHTRA, INDIA |
B39779863 |
|
4 |
90164161 |
31/01/2014 * |
90,000,000.00 |
BANK OF INDIA |
ANDHERI CORPORATE BANKING BRANCH, 28, M.D.I BUILDING, S. V. ROAD, ANDHERI (WEST), MUMBAI-400058, MAHARASHTRA, INDIA |
B96431812 |
* Date of charge modification
FIXED ASSETS
- Land and Land
Development
- Plant and
Machinery
- Building
- Electrical
Installation
- Furniture and
Fixture
- Office and
Other Equipment
- Computer
- 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 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. 60.87 |
|
|
1 |
Rs. 99.63 |
|
Euro |
1 |
Rs. 78.22 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ASH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
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 |
|
30 |
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.