MIRA
INFORM REPORT
|
Report Date : |
26.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
TBEA ENERGY ( |
|
|
|
|
Registered
Office : |
Tbea House,
Wadivadi, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
07.07.2010 |
|
|
|
|
Com. Reg. No.: |
04-071817 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 2968.055
Millions |
|
|
|
|
CIN No.: [Company Identification No.] |
U40104GJ2010PTC071817 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDT01831E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCT5210F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of High Voltage Transformers and Shunt Reactors and also Trading of Cold Rolled Grain Oriented Steels. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 11700000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Company has incurred loss from its operation 2013. However, capital base
of the company appears to be strong. Rating also takes into consideration
financial support from its parent company TBEA Shenyang Transformer Group
Company Limited. Trade relations are reported to be fair. Business is active. Payment
terms are reported to be slow but correct. The company can be considered for 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.
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 |
CARE |
|
Rating |
Long term bank facilities : BBB- |
|
Rating Explanation |
Moderate credit quality and average credit
risk. |
|
Date |
12.09.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities : A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
12.09.2014 |
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
(CONTACT NO.: 91-2666-660000)
LOCATIONS
|
Registered Office : |
Tbea House,
Wadivadi, Dr. Sarabhai Road, Vadodara – 390007, Gujarat, India |
|
Tel. No.: |
91-265-2320428 |
|
Fax No.: |
91-265-2303140 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Site Office : |
Survey No. 742, 749, 750 and 751, National Highway 8,
Besides Jindal Rail Infrastructure Limited, Miyagam, Karjan, Vadodara –
391440, Gujarat, India |
|
|
|
|
Marketing Office : |
1002, Wing A, Singnature Towers, South City-I, Gurgaon – 122001,
Haryana, India |
|
Tel. No.: |
91-124-4988400 |
|
Fax No.: |
91-124-4988431 |
|
|
|
|
Regional Head
Office : |
Located at: · Mumbai Chennai Gurgaon |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Yong Leng |
|
Designation : |
Managing director |
|
Address : |
C-1048, Sushant Lok-1, Gurgaon – 122001, Haryana, India |
|
Date of Appointment : |
08.12.2011 |
|
DIN No.: |
05140650 |
|
|
|
|
Name : |
Zhijin Chen |
|
Designation : |
Director |
|
Address : |
House No. 936, Sector 40, Gurgaon – 122001, Haryana, India |
|
Date of Appointment : |
01.10.2010 |
|
DIN No.: |
03271793 |
|
|
|
|
Name : |
Mr. Gopal Krishan Gupta |
|
Designation : |
Director |
|
Address : |
53-54, Vikas Nagar, Old Padra Road, Vadodara -390020, Gujarat,
India |
|
Date of Birth/Age : |
05.07.1957 |
|
Date of Appointment : |
30.09.2013 |
|
DIN No.: |
06626534 |
|
|
|
|
Name : |
Wei Liu |
|
Designation : |
Director |
|
Address : |
1-7-1, No. 9-3, Tangzi Street, Dadong District, Shenyang |
|
Date of Birth/Age : |
13.10.1981 |
|
Date of Appointment : |
30.09.2013 |
|
DIN No.: |
06694746 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Tbea Shenyang Transformer Group Company Limited, China |
|
309917874 |
|
Zhang Xin |
|
10000 |
|
Total |
|
309927874 |
AS ON 30.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
100.00 |
|
|
|
|
Total |
100.00 |
%20PRIVATE%20LIMITED%20-%20287580%2026-Sep-2014_files/image002.gif)
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of High Voltage Transformers and Shunt Reactors and also Trading of Cold Rolled Grain Oriented Steels. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|
|
|
|
Bankers : |
· ICICI Bank Limited Landmarkrace Cource Circle, Alkapuri, Baroda - 390015,
Gujarat, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
SNK and Company Chartered Accountants |
|
Address : |
'SNK House' 31-A, Adarsh
Society, Opposite Seventh Day Adventist High School, Atwalines, Surat – 395001,
Gujarat, India |
|
Tel. No.: |
91-261-2656273-4/ 6544791-2 |
|
Fax No.: |
91-261-2656868 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AAJFS8455L |
|
|
|
|
Holding Company : |
Tbea Shenyang Transformer Group Company Limited |
|
|
|
|
Subsidiary Company : |
Tbea (India) Trading Private Limited [U51103GJ2012PTC071903] |
|
|
|
|
Associates : |
·
TBEA Shanghai
Zonfa E Power EHV Equipment Company Limited TBEA Shenyang Morden logistic and international
Trade Company Limited TBEA USA Corporation |
|
|
|
|
Employee Fund : |
Employees Group Gratuity-cum-Life Assurance Scheme |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
312,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 3120.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
309,927,874 |
Equity Shares |
Rs. 10/- each |
Rs. 3099.279
Millions |
|
|
|
|
|
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 3000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
296,805,517 |
Equity Shares |
Rs. 10/- each |
Rs. 2968.055
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 |
2968.055 |
876.879 |
0.100 |
|
(b) Reserves & Surplus |
(86.246) |
0.088 |
(0.308) |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
32.071 |
0.000 |
4.395 |
|
Total
Shareholders’ Funds (1) + (2) |
2913.880 |
876.967 |
4.187 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1447.791 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
2.696 |
0.328 |
0.030 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
1450.487 |
0.328 |
0.030 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
220.761 |
10.602 |
0.066 |
|
(c)
Other current liabilities |
74.486 |
3.276 |
1.906 |
|
(d) Short-term
provisions |
2.142 |
2.634 |
0.000 |
|
Total Current
Liabilities (4) |
297.389 |
16.512 |
1.972 |
|
|
|
|
|
|
TOTAL |
4661.756 |
893.807 |
6.189 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
883.343 |
805.229 |
2.435 |
|
(ii)
Intangible Assets |
3.420 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
2111.429 |
57.083 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.100 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
36.950 |
6.284 |
1.720 |
|
(e) Other Non-current
assets |
0.023 |
0.035 |
0.046 |
|
Total Non-Current
Assets |
3035.265 |
868.631 |
4.201 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
82.744 |
0.000 |
0.000 |
|
(c)
Trade receivables |
65.112 |
3.620 |
0.000 |
|
(d) Cash
and cash equivalents |
138.928 |
4.053 |
1.920 |
|
(e)
Short-term loans and advances |
1337.657 |
16.926 |
0.060 |
|
(f)
Other current assets |
2.050 |
0.577 |
0.008 |
|
Total
Current Assets |
1626.491 |
25.176 |
1.988 |
|
|
|
|
|
|
TOTAL |
4661.756 |
896.807 |
6.189 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
36.039 |
|
|
|
|
|
Other Income |
24.196 |
0.087 |
|
|
|
|
TOTAL (A) |
60.235 |
0.892 |
NA
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of stock-in-trade |
116.502 |
0.000 |
|
|
|
|
Changes in inventories of traded goods |
(82.744) |
0.000 |
|
|
|
|
Employee benefit Expenses |
0.396 |
0.000 |
|
|
|
|
Other Expenses |
106.698 |
0.012 |
|
|
|
|
TOTAL (B) |
140.852 |
0.012 |
NA
|
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(80.617) |
0.880 |
[Including
Financial and Depreciation Expenses] |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.366 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(80.983) |
0.880 |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.983 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(83.966) |
0.880 |
(0.278) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.368 |
0.483 |
0.030 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(86.334) |
0.397 |
(0.308) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Traded Goods |
95.426 |
0.000 |
0.000 |
|
|
|
Advance for Capital Goods |
1212.739 |
9.970 |
0.000 |
|
|
TOTAL IMPORTS |
1308.165 |
9.970 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(0.46) |
0.005 |
(30.84) |
|
%20PRIVATE%20LIMITED%20-%20287580%2026-Sep-2014_files/image003.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20287580%2026-Sep-2014_files/image004.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(143.33)
|
44.51 |
NA
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(232.99)
|
109.32 |
NA
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.29)
|
0.11 |
(4.49)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.03)
|
0.00 |
(0.07)
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.50
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.47
|
1.52 |
1.01 |
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 |
0.100 |
876.879 |
2968.055 |
|
Reserves & Surplus |
(0.308) |
0.088 |
(86.246) |
|
Net
worth |
(0.208) |
876.967 |
2881.809 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
1447.791 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
1447.791 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.502 |
%20PRIVATE%20LIMITED%20-%20287580%2026-Sep-2014_files/image006.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Revenue from Operations |
0.805 |
36.039 |
|
|
|
4,376.894 |
%20PRIVATE%20LIMITED%20-%20287580%2026-Sep-2014_files/image008.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Revenue from Operations |
0.805 |
36.039 |
|
Profit |
0.397 |
(86.334) |
|
|
49.32% |
(239.56%) |
%20PRIVATE%20LIMITED%20-%20287580%2026-Sep-2014_files/image010.gif)
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
two years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if
applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
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 |
CURRENT MATURITIES
OF LONG TERM DEBT: NOT AVAILABLE
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10462591 |
22/11/2013 |
550,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
B90504473 |
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Tbea Shenyang Transformer Group Company Limited (ECB) |
1447.791 |
0.000 |
|
|
|
|
|
Total |
1447.791 |
0.000 |
|
Unsecured Long term borrowings
Shareholders: The Company has availed
ECB Loan equivalent to US$ 26,347,431 from TBEA Shenyang Transformer Group
Company Limited (its holding company), which carries interest calculated at
LlBOR + 5%. Interest becomes due as on December 31 every year and is payable
within 30 days. The said ECB can be utilised by the company for setting-up
factory in India and for the purpose of acquiring capital goods required for
establishing manufacturing facility. Maximum ECB loan is restricted to US$
40,000,000. The said ECB is repayable after 5 year of respective receipt of instalment, as per the
mutually agreed repayable date and entire ECB is repayable no1 later than
December 31, 2020. |
||
CHANGE OF ADDRESS:
The Registered office of the company has been shifted from X-17, Hauz
Khas, New Delhi – 110016, India to the present address w.e.f.16.08.2012.
CORPORATE INFORMATION
The Company is in
the process of establishing its manufacturing facility of production of high
voltage transformers and shunt reactors at Village Karjan, Near Vadodara,
Gujarat.
During the
reporting period, the company had undertaken trading of Cold Rolled Grain
Oriented steels, commonly known as CRGO and has also carried out erection and installations
of shunt reactors.
FINANCIAL RESULTS
During the year, the Company has incurred loss of Rs. 83.966 Millions as
compared to a Profit before tax of Rs. 0.880 Million in the previous year. The
Directors plan to take major steps for overall much better performance of the
company resulting into handsome profits in the years to come. The details of
financial performance of the Company are appearing in the Balance Sheet and
statement of Profit and Loss Account for the year being the forming part of
this report.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
|
|
|
|
Bank Guarantee |
29.371 |
0.000 |
|
|
|
|
FIXED ASSETS:
· Freehold Land
Computer
Equipment
Furniture
and Fixture
Office
Equipment
Plant
and Machinery
Temporary
Building
Vehicles
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.61.02 |
|
|
1 |
Rs.99.43 |
|
Euro |
1 |
Rs.77.84 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
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.