MIRA
INFORM REPORT
|
Report Date : |
25.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
DENA BANK |
|
|
|
|
Registered
Office : |
Dena Corporate Centre, C-10, G Block, Bandra Kurla Complex,
Bandra (East), Mumbai – 400051, |
|
|
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|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
26.05.1938 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 5378.164 Millions |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMD10537C |
|
|
|
|
Legal Form : |
Subject is a Government of India Bank. The Bank’s Shares
are traded on the Stock Exchanges. |
|
|
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|
Line of Business
: |
Banking Activities. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (81) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a well-established and reputed nationalized bank having
excellent track record. Bank leverage seems to be good. Fundaments are strong and healthy.
Rating also factors majority ownership by Government of India. Trade relations are reported as fair. Business is active. Payment
terms are regular as per commitment. The bank can be considered trustworthy 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.
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 illfully 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 |
CARE |
|
Rating |
AA+ (Lower Tier II Bonds) |
|
Rating Explanation |
High degree of safety and low credit risk. |
|
Date |
25.07.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
AA (Perpetual Bonds) |
|
Rating Explanation |
High degree of safety and low credit risk. |
|
Date |
25.07.2014 |
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
Management Non Cooperative (91-22-26545607)
LOCATIONS
|
Registered Office/ Head
Office : |
Dena Corporate Centre, C-10, G Block, Bandra Kurla
Complex, Bandra (East), Mumbai – 400051, Maharashtra, India |
|
Tel. No.: |
91-22-26545760 |
|
Fax No.: |
91-22-26545761 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 31.03.2014
|
Name : |
Mr. Ashwani Kumar |
|
Designation : |
Chairman and Managing Director |
|
Date of Birth/Age : |
56 Years |
|
Qualification : |
M.Sc., CAIIB |
|
|
|
|
Name : |
Mr. A. K. Dutt |
|
Designation : |
Executive Director |
|
Address : |
60 Years |
|
Qualification : |
M.Sc., CAIIB, MBA,DCA |
|
|
|
|
Name : |
Mr. Sanjeev Jindal |
|
Designation : |
Govt. of India Nominee |
|
Date of Birth/Age : |
48 Years |
|
Qualification : |
B.Com, MBA (Finance), Master in Programme on International Development Policy, Duke University, USA |
|
|
|
|
Name : |
Mr. V. Vasanthan |
|
Designation : |
Reserve Bank of India Nominee |
|
Date of Birth/Age : |
57 Years |
|
Qualification : |
M.A. (Economics) |
|
|
|
|
Name : |
Mr. S. P. Sharma |
|
Designation : |
Workmen Employee Director |
|
Date of Birth/Age : |
59 Years |
|
Qualification : |
B.Com, CAIIB (I) |
|
|
|
|
Name : |
Mr. M.L. Gupta |
|
Designation : |
Officer Employee Director |
|
Date of Birth/Age : |
57 Years |
|
Qualification : |
B.Sc., B.Ed., M.A.(Eco.), CAIIB, MBA(Finance) |
|
|
|
|
Name : |
Mr. J. Balasubramanian |
|
Designation : |
Appointed by Govt. of India |
|
Date of Birth/Age : |
64 Years |
|
Qualification : |
B.Com., LL.B, FCA |
|
|
|
|
Name : |
Mr. Vijay Kapoor |
|
Designation : |
Appointed by Govt. of India |
|
Date of Birth/Age : |
50 Years |
|
Date of Appointment : |
B.Com, LLB |
|
DIN No.: |
|
|
|
|
|
Name : |
Mr. Rakesh Goel |
|
Designation : |
Appointed by Govt. of India |
|
Date of Birth/Age : |
60 Years |
|
Qualification : |
Pre ISC, Diploma in Business Administration |
|
|
|
|
Name : |
Mr. Rohit M Desai |
|
Designation : |
Shareholder Director |
|
Date of Birth/Age : |
69 Years |
|
Qualification : |
B.Com, CAIIB |
|
|
|
|
Name : |
Mr. Mukesh Mohan |
|
Designation : |
Shareholder Director |
|
Date of Birth/Age : |
50 Years |
|
Qualification : |
B.Com (Hons.), FCA |
|
|
|
|
Name : |
Dr. Pritam Singh |
|
Designation : |
Shareholder Directors |
|
Date of Birth/Age : |
73 Years |
|
Qualification : |
M.Com., MBA (USA), Ph.D. |
|
|
|
|
Name : |
Mr. Trishna Guha |
|
Designation : |
Executive Director |
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|
|
|
Name : |
Mr. R. K. Takkar |
|
Designation : |
Executive Director |
|
|
|
|
Name : |
Ms. Anna Roy |
|
Designation : |
Govt. of India Nominee |
|
|
|
|
Name : |
Mr. Rajat Sachar |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Amit Kumar |
|
Designation : |
Company Secretary |
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|
|
|
Name : |
Mr. R Jothi Kalingaraayan |
|
Designation : |
Compliance Officer |
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|
|
|
Name : |
Mr. M K Sharma |
|
Designation : |
General Manager |
|
|
|
|
Name : |
Mr. R S Bora |
|
Designation : |
General Manager |
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|
|
|
Name : |
Mr. B M Nanda |
|
Designation : |
General Manager |
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|
|
|
Name : |
Mr. M K Bhatia |
|
Designation : |
General Manager |
|
|
|
|
Name : |
Mr. S K Sharma |
|
Designation : |
General Manager |
|
|
|
|
Name : |
Mr. T K Pal |
|
Designation : |
General Manager |
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|
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|
Name : |
Mr. S Sarkar |
|
Designation : |
General Manager |
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|
Name : |
Mr. K C Chhipa |
|
Designation : |
General Manager |
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|
|
|
Name : |
Mr. D K Dua |
|
Designation : |
General Manager |
|
|
|
|
Name : |
Mr. S K Wadhwa |
|
Designation : |
General Manager |
|
|
|
|
Name : |
Mr. G C Garg |
|
Designation : |
General Manager |
|
|
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|
Name : |
Mr. Rajiv Aggarwal |
|
Designation : |
General Manager |
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|
|
|
Name : |
Mr. C S Meena |
|
Designation : |
General Manager |
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|
Name : |
Mr. M. K. Jain (CGM) |
|
Designation : |
General Manager |
|
|
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|
Name : |
Mr. R K Gupta |
|
Designation : |
General Manager |
|
|
|
|
Name : |
Mr. S N Patel |
|
Designation : |
General Manager |
|
|
|
|
Name : |
Mr. J K Singh Kharb |
|
Designation : |
General Manager |
|
|
|
|
Name : |
Mr. N Rama Rao |
|
Designation : |
General Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2014
|
Category of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter
and Promoter Group |
|
|
|
|
|
|
|
|
311969644 |
58.01 |
|
|
311969644 |
58.01 |
|
|
|
|
|
Total shareholding of Promoter
and Promoter Group (A) |
311969644 |
58.01 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
1715056 |
0.32 |
|
|
387156 |
0.07 |
|
|
4000 |
0.00 |
|
|
87805411 |
16.33 |
|
|
48356180 |
8.99 |
|
|
138267803 |
25.71 |
|
|
|
|
|
|
12620798 |
2.35 |
|
|
|
|
|
|
59345718 |
11.03 |
|
|
13171681 |
2.45 |
|
|
2440721 |
0.45 |
|
|
2422619 |
0.45 |
|
|
18102 |
0.00 |
|
|
87578918 |
16.28 |
|
Total Public shareholding (B) |
225846721 |
41.99 |
|
Total (A)+(B) |
537816365 |
100.00 |
|
(C) Shares held by Custodians
and against which Depository Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
537816365 |
0.00 |
Shareholding
belonging to the category "Promoter and Promoter Group"
|
Sl.No. |
Name of the
Shareholder |
Details of Shares held |
Total shares
(including underlying shares assuming full conversion of warrants and convertible
securities) as a % of diluted share capital |
|
|
|
|
No. of Shares held |
As a % of grand
total (A)+(B)+(C) |
|
|
1 |
President of India |
31,19,69,644 |
58.01 |
58.01 |
|
|
Total |
31,19,69,644 |
58.01 |
58.01 |
Shareholding belonging
to the category "Public" and holding more than 1% of the Total No. of
Shares
|
Sl. No. |
Name of the
Shareholder |
No. of Shares held |
Shares as % of
Total No. of Shares |
Total shares
(including underlying shares assuming full conversion of warrants and
convertible securities) as a % of diluted share capital |
|
|
|
|
|
|
|
1 |
Life Insurance Corporation of India |
71003466 |
13.20 |
13.20 |
|
2 |
Acacia Partners LP |
9000000 |
1.67 |
1.67 |
|
3 |
General Insurance Corporation Of India |
16649373 |
3.10 |
3.10 |
|
|
Total |
96652839 |
17.97 |
17.97 |
Shareholding
belonging to the category "Public" and holding more than 5% of the
Total No. of Shares
|
Sl. No. |
Name(s) of the shareholder(s)
and the Persons Acting in Concert (PAC) with them |
No. of Shares |
Shares as % of
Total No. of Shares |
Total shares
(including underlying shares assuming full conversion of warrants and
convertible securities) as a % of diluted share capital |
|
|
|
|
|
|
|
1 |
Life Insurance Corporation Of India |
71003466 |
13.20 |
13.20 |
|
|
Total |
71003466 |
13.20 |
13.20 |
Details of Locked-in
Shares
|
Sl. No. |
Name of the
Shareholder |
No. of Shares |
Locked-in Shares as
% of |
|
1 |
General Insurance Corporation Of India |
1,58,76,015 |
2.95 |
|
2 |
Life Insurance Corporation Of india |
5,32,98,053 |
9.91 |
|
3 |
President Of India |
31,19,69,644 |
58.01 |
|
|
Total |
38,11,43,712 |
70.87 |
BUSINESS DETAILS
|
Line of Business : |
Banking Activities. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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|
Bankers : |
Reserve Bank of India |
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|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Statutory Auditors
: |
· S N Dhawan and Company, New Delhi · S C Ajmera and Company, Udaipur · Anand and Ponnappan, Chennai ·
A P A S and Company, Raipur |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000000 |
Equity Shares |
Rs.10/- each |
Rs.30000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
537816364 |
Equity Shares |
Rs.10/- each |
Rs.5378.164 Millions |
|
|
|
|
|
Note: Of which, 311969644 shares are held by the Government of India.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Capital and Liabilities |
|
|
|
|
Capital |
5378.164 |
3500.585 |
3500.585 |
|
Reserves and Surplus |
66046.729 |
54139.534 |
41272.729 |
|
Deposits |
1100276.878 |
972071.508 |
771667.970 |
|
Borrowings |
51609.309 |
84136.562 |
38809.480 |
|
Other Liabilities &
Provisions |
25323.806 |
20556.051 |
18628.402 |
|
TOTAL |
1248634.886 |
1134404.240 |
873879.166 |
|
|
|
|
|
|
Assets |
|
|
|
|
Cash & Balances with Reserve
Bank of |
62439.503 |
86444.930 |
51949.556 |
|
Balances with Banks & money
at Call & Short Notice |
1287.717 |
11769.162 |
3562.434 |
|
Investments |
366120.731 |
343430.975 |
230276.480 |
|
Advances |
775537.748 |
657812.176 |
566925.376 |
|
Fixed Assets |
11448.139 |
11121.168 |
4066.337 |
|
Other Assets |
31801.048 |
23825.829 |
17098.983 |
|
TOTAL |
1248634.886 |
1134404.240 |
873879.166 |
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Income |
|
|
|
|
Interest Earned |
99784.750 |
88993.894 |
67941.278 |
|
Other Income |
9167.294 |
6554.632 |
5821.702 |
|
TOTAL |
108952.044 |
95548.526 |
73762.980 |
|
|
|
|
|
|
Expenditure |
|
|
|
|
Interest Expended |
74733.951 |
65162.879 |
46931.251 |
|
Operating Expenses |
16477.820 |
12996.975 |
11547.450 |
|
Provisions & Contingencies |
12223.672 |
9284.848 |
7252.869 |
|
TOTAL |
103435.443 |
87444.702 |
65731.570 |
|
|
|
|
|
|
Profit/ Loss |
|
|
|
|
Net Profit for the year |
5516.601 |
8103.824 |
8031.410 |
|
Net Profit/ Loss Brought Forward
|
0.000 |
0.000 |
0.000 |
|
TOTAL |
5516.601 |
8103.824 |
8031.410 |
|
|
|
|
|
|
Appropriations |
|
|
|
|
Transfer to statutory reserve |
1654.980 |
2431.147 |
2409.423 |
|
Transfer to special infra
reserve |
600.000 |
650.000 |
500.000 |
|
Transfer to capital reserves |
59.777 |
49.291 |
15.879 |
|
Transfer to revenue reserve |
1906.283 |
3048.496 |
3885.568 |
|
Proposed dividend |
1295.561 |
1924.890 |
1220.540 |
|
Balance carried over to balance
sheet |
0.000 |
0.000 |
0.000 |
|
Total |
5516.601 |
8103.824 |
8031.410 |
|
|
|
|
|
|
Earnings Per
Share (Rs.) (Basic/Diluted) |
14.40 |
23.15 |
24.08 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
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) |
|
Interest
Earned |
67941.278 |
88993.894 |
99784.750 |
|
|
|
30.986 |
12.125 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Interest
Earned |
67941.278 |
88993.894 |
99784.750 |
|
Profit |
8031.410 |
8103.824 |
5516.601 |
|
|
11.82% |
9.11% |
5.53% |
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 |
No |
|
10] |
Designation of contact person |
No |
|
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 |
No |
|
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 |
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 |
|
LITIGATION DETAILS |
|||||||
|
Bench:- Bombay |
|||||||
|
Presentation Date:- 22/04/2014 |
|||||||
|
Lodging No. : |
WPL/1117/2014 |
Failing Date:- |
22/04/2014 |
Reg. No.:- |
WP/1626/2014 |
Reg. Date:- |
14/07/2014 |
|
|
|||||||
|
Petitioner:- |
GANNON DUNKERLEY HOLDINGS PRIVATE LIMITED |
Respondent:- |
DENA BANK AND 3 ORS. |
||||
|
Petn.Adv:- |
MS MAHESH JAIN AND CO (I3882) |
Resp. Adv.: |
RAJESH LALJI SHETHIA (I5002) |
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District:- |
MUMBAI |
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Bench:- |
DIVISION |
Category:- |
WRIT PETITION(OTHERS) |
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Status:- |
Pre-Admission |
Stage:- |
WRIT PETITION FOR ADMISSION |
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Last Date:- |
26/09/2014 |
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Last Coram:- |
HON'BLE SHRI JUSTICE V.M. KANADE HON'BLE SHRI JUSTICE P.D. KODE |
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Act. : |
Bombay Public Trust Act |
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CONTINGENT
LIABILITIES
(Rs. In Millions)
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Particular |
31.03.2014 |
31.03.2013 |
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Claims Against the Bank not Acknowledged as debts |
19199.200 |
19058.446 |
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Liability on Account of Partly paid Shares |
0.000 |
0.000 |
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Liability on Account of Outstanding Forward Exchange Contracts |
45510.143 |
413484.900 |
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Guarantees Given on
behalf of Constituents |
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|
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In India |
46123.277 |
44351.720 |
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Outside India |
0.000 |
0.000 |
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Acceptances, Endorsements and Other Obligations |
46429.933 |
45289.762 |
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Other Items for which the Bank is Contingently Liable |
0.000 |
0.057 |
PERFORMANCE
HIGHLIGHTS
During the current financial year the aggregate Business Mix (Deposits Advances) of the Bank reached Rs. 1886500.000 Millions as on 31st March, 2014. The total Business Mix of the Bank increased by Rs. 249860.000 Millions registering a growth of 15.27 % on year on year .
Total Deposit of the Bank increased from Rs. 972070.000 Millions as on 31st March, 2013 to Rs. 1100280.000 Millions as on 31st March, 2014, registering a growth of 13.19 %.
Advances of the Bank increased by Rs. 121650.000 Millions from Rs. 664570.000 Millions as on 31st March, 2013 to Rs. 786220.000 Millions as on 31st March, 2014, registering a growth of 18.31%.
Micro, Small and Medium Enterprises (MSME) Credit posted a growth of Rs. 25440.000 Millions from Rs. 106730.000 Millions as on 31st March, 2013 to Rs.132170.000 Millions as on 31st March, 2014, registering a growth of 23.84 %.
Direct Retail Credit posted a growth of Rs. 19820.000 Millions from Rs. 77240.000 Millions as on 31st March, 2013 to Rs. 97060.000 Millions as on 31st March, 2014, registering a growth of 25.67 %.
With concerted efforts for recovery in NPA Accounts, Bank could make Cash Recovery Rs. 4163.800 Millions during the year 2013-14. The upgradation was affected to the tune of Rs. 3610.500 Millions. The recovery in written off accounts during the year was Rs. 1872.400 Millions including recovery of interest in written off accounts.
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
Tangible Assets
· Premises
Intangible Assets
· Computer Software
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.61.03 |
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1 |
Rs.99.99 |
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Euro |
1 |
Rs.78.37 |
INFORMATION DETAILS
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Information
Gathered by : |
GYT |
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Analysis Done by
: |
SUM |
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Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
9 |
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PAID-UP CAPITAL |
1~10 |
9 |
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OPERATING SCALE |
1~10 |
9 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
9 |
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--PROFITABILIRY |
1~10 |
9 |
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--LIQUIDITY |
1~10 |
9 |
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--LEVERAGE |
1~10 |
9 |
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--RESERVES |
1~10 |
9 |
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--CREDIT LINES |
1~10 |
9 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
YES |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
YES |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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DEFAULTER |
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--RBI |
YES/NO |
NO |
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--EPF |
YES/NO |
NO |
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TOTAL |
|
81 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.