MIRA
INFORM REPORT
|
Report Date : |
30.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
NIRMAL SPINNING MILLS PRIVATE LIMITED |
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Registered
Office : |
13/2, Basant Building, Cuffe Parade, Mumbai – 400005, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
31.01.1983 |
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Com. Reg. No.: |
11-029223 |
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Capital
Investment / Paid-up Capital : |
Rs. 27.600 Millions |
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CIN No.: [Company Identification
No.] |
U17110MH1983PTC029223 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Woolen Yarn, Woolen Shawls etc. |
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No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow But Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. External borrowing of the company is huge which act as a threat to
liquidity position of the company. However, trade relation are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealing 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.
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.
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. Vipan Khanna |
|
Designation : |
Director |
|
Contact No.: |
91-9815080004 |
|
Date : |
30.09.2013 |
LOCATIONS
|
Registered Office : |
13/2, Basant Building, Cuffe Parade, Mumbai – 400005, Maharashtra,
India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9815080004 (Mr. Vipan) |
|
Fax No.: |
Not Available |
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E-Mail : |
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|
Location : |
Rented |
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|
|
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Factory / corporate office : |
Plot No. 3, Industrial Area, Baddi - 173205, Himachal Pradesh, India |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Nirmal Khanna |
|
Designation : |
Director |
|
Address : |
27, Maqbool Road, Amritsar – 143001, Punjab, India |
|
Date of Appointment : |
31.01.1983 |
|
DIN No.: |
00496062 |
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|
|
|
Name : |
Mr. Vipan Khanna |
|
Designation : |
Director |
|
Address : |
House No. 127, Sector – 6, Panchkula – 134109, Haryana, India |
|
Date of Appointment : |
31.01.1983 |
|
DIN No.: |
00496709 |
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|
|
|
Name : |
Mr. Pankaj Khanna |
|
Designation : |
Director |
|
Address : |
House No. 127, Sector – 6, Panchkula – 134109, Haryana, India |
|
Date of Appointment : |
26.12.2012 |
|
DIN No.: |
05354687 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Sukhdial Khanna |
|
150 |
|
Joginer Khanna |
|
45206 |
|
Vipan Khanna |
|
41530 |
|
Kamal Khanna |
|
46124 |
|
Nirmal Khanna |
|
25530 |
|
Preeti Khanna |
|
13938 |
|
Puja Khanna |
|
16284 |
|
Sangeeta Khanna |
|
14145 |
|
Veena Seghal |
|
17319 |
|
Pankaj Khanna |
|
4140 |
|
Palak Khanna |
|
690 |
|
Deepali Khanna |
|
690 |
|
Manav Khanna |
|
2760 |
|
Anchal Khanna |
|
690 |
|
Anisha Khanna |
|
690 |
|
Karan Khanna |
|
2070 |
|
Joginder Khanna HUF |
|
14973 |
|
Vipan Khanna |
|
14973 |
|
Kamal Khanna |
|
13998 |
|
Jyoti Malik |
|
100 |
|
Total
|
|
276000 |
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 of Woolen Yarn, Woolen Shawls etc. |
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Exports : |
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Countries : |
·
Australia ·
Japan ·
Italy |
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Imports : |
|
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Products : |
Raw material |
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Countries : |
Australia |
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Terms : |
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Selling : |
Cash and credit |
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Purchasing : |
Cash, LC and credit |
GENERAL INFORMATION
|
Suppliers : |
Mill Way Marino Pty Limited, Australia |
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Customers : |
Surbi Enterprises, New Delhi, India |
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No. of Employees : |
250 (Approximately) |
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Bankers : |
·
Bank Of India, Hall Bazar, Amritsar – 143001,
Punjab, India ·
IDBI Bank, IDBI Tower, Cuffe Parade, Bombay –
400005, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
--- |
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Auditors : |
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|
Name : |
R. L. Mehra and Company Chartered Accountants |
|
Address : |
E 516, Ranjit Avenue, Amritsar – 143001, Punjab, India |
|
Tel. No.: |
91-183-2503602 |
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PAN No.: |
AADFR2154F |
CAPITAL STRUCTURE
As on: 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000 |
Equity Shares |
Rs.100/- each |
Rs. 30.000 Millions |
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|
|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
276000 |
Equity Shares |
Rs.100/-
each |
Rs. 27.600
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
27.600 |
27.600 |
27.600 |
|
(b) Reserves & Surplus |
31.664 |
29.876 |
29.675 |
|
(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) |
59.264 |
57.476 |
57.275 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
120.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(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) |
120.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
207.459 |
308.427 |
285.775 |
|
(b) Trade payables |
17.557 |
30.374 |
69.269 |
|
(c) Other current
liabilities |
3.521 |
3.028 |
2.739 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities (4) |
228.537 |
341.829 |
357.783 |
|
|
|
|
|
|
TOTAL |
407.801 |
399.305 |
415.058 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
90.448 |
76.808 |
84.778 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
12.841 |
9.040 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.140 |
1.414 |
1.403 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
91.588 |
91.063 |
95.221 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
165.525 |
165.595 |
191.336 |
|
(c) Trade receivables |
114.031 |
105.583 |
97.899 |
|
(d) Cash and cash
equivalents |
26.772 |
22.817 |
19.926 |
|
(e) Short-term loans and
advances |
0.000 |
0.000 |
0.000 |
|
(f) Other current assets |
9.885 |
14.247 |
10.676 |
|
Total Current Assets |
316.213 |
308.242 |
319.837 |
|
|
|
|
|
|
TOTAL |
407.801 |
399.305 |
415.058 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
161.072 |
166.669 |
138.916 |
|
|
|
Other Income |
0.500 |
0.689 |
0.220 |
|
|
|
TOTAL (A) |
161.572 |
167.358 |
139.136 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
62.799 |
|
|
|
|
|
Purchases of Stock-in-Trade |
24.413 |
21.796 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
3.112 |
1.500 |
NA |
|
|
|
Employees benefits expense |
13.942 |
14.315 |
|
|
|
|
Other expenses |
23.433 |
26.822 |
|
|
|
|
TOTAL (B) |
127.699 |
136.082 |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
33.873 |
31.276 |
NA |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
23.144 |
22.032 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
10.729 |
9.244 |
NA |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
8.491 |
8.952 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2.238 |
0.292 |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
2.238 |
0.292 |
0.237 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
22.785 |
35.174 |
NA |
|
|
|
|
|
|
|
|
|
VALE OF IMPORTS |
9.842 |
31.237 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
8.11 |
1.06 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
1.39 |
0.17 |
0.17 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.39 |
0.18 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.55 |
0.08 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04 |
0.01 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
5.53 |
5.37 |
4.99 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.38 |
0.90 |
0.89 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
27.600 |
27.600 |
27.600 |
|
Reserves & Surplus |
29.675 |
29.876 |
31.664 |
|
Net worth |
57.275 |
57.476 |
59.264 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
120.000 |
|
Short term borrowings |
285.775 |
308.427 |
207.459 |
|
Total borrowings |
285.775 |
308.427 |
327.459 |
|
Debt/Equity ratio |
4.990 |
5.366 |
5.525 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
138.916 |
166.669 |
161.072 |
|
|
|
19.978 |
(3.358) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
138.916 |
166.669 |
161.072 |
|
Profit |
0.237 |
0.292 |
2.238 |
|
|
0.17% |
0.18% |
1.39% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT: 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 |
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 |
No |
|
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 |
As on 31.03.2014 |
As on 31.03.2013 |
|
|
(Rs. In Millions) |
|
|
LONG TERM
BORROWINGS: |
|
|
|
From shareholder |
120.000 |
0.000 |
|
SHORT TERM
BORROWINGS: |
|
|
|
Others loans and advances |
90.175 |
204.701 |
|
Total |
210.175 |
204.701 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10101202 |
17/02/2007 |
134,530,000.00 |
BANK OF INDIA |
HALL BAZAR,
AMRITSAR, AMRITSAR, PUNJAB - 143006, |
A12481099 |
|
2 |
90237523 |
09/12/2002 |
99,960,000.00 |
BANK OF INDIA |
HALL BAZAR, AMRITSAR, PUNJAB, INDIA |
- |
|
3 |
90234164 |
18/07/2012 * |
131,000,000.00 |
BANK OF INDIA |
HALL BAZAR, AMRITSAR, PUNJAB - 143001, INDIA |
B45600053 |
|
4 |
90234058 |
05/11/1994 |
45,875,000.00 |
BANK OF INDIA |
HALL ROAD, AMRITSAR, PUNJAB, INDIA |
- |
|
5 |
90237021 |
28/10/1993 |
13,000,000.00 |
H. P STATEINDL. DEVE. CORP LTD |
NEW NIMRUS BUILDING
CORP., SHIMLA, HIMACHAL PRADES |
- |
|
6 |
90237000 |
10/05/1993 |
33,000,000.00 |
BANK OF INDIA |
HALL BAZAR, AMRITSAR, PUNJAB, INDIA |
- |
|
7 |
90233897 |
13/03/1993 |
500,000.00 |
BANK OF INDIA |
HALL BAZAR, AMRITSAR, PUNJAB, INDIA |
- |
|
8 |
90236941 |
06/01/1992 |
3,768,000.00 |
H. P STATEINDL. DEVE. CORP LTD |
NEW NIMRUS BUILDING
CORP., SHIMLA, HIMACHAL PRADES |
- |
|
9 |
90235476 |
25/03/1991 |
500,000.00 |
DIRECTORS OF INDUSTRIRS |
PUNJAB, PUNJAB, PUNJAB, INDIA |
- |
|
10 |
90233714 |
13/02/1991 * |
3,000,000.00 |
BANK OF INDIA |
HALL BAZAR, AMRITSAR, PUNJAB, INDIA |
- |
|
11 |
90236907 |
10/05/1993 * |
6,355,000.00 |
H. P STATEINDL. DEVE. CORP LTD |
NEW NIMRUS BUILDING
CORP., SHIMLA, HIMACHAL PRADES |
- |
|
12 |
90233594 |
01/08/1989 |
1,600,000.00 |
BANK OF INDIA |
HALL BAZAR, AMRITSAR, PUNJAB, INDIA |
- |
|
13 |
90236844 |
20/04/1989 |
450,000.00 |
DIRECTOR OF INDUSTRIES |
CHANDIGARH, CHANDIGARH, CHANDIGARH, INDIA |
- |
|
14 |
90236841 |
10/05/1993 * |
1,083,000.00 |
H. P STATEINDL. DEVE. CORP LTD |
NEW NIMRUS BUILDING
CORP., SHIMLA, HIMACHAL PRADES |
- |
|
15 |
90236820 |
29/08/1988 |
890,000.00 |
H. P STATEINDL. DEVE. CORP LTD |
NEW NIMRUS BUILDING
CORP., SHIMLA, HIMACHAL PRADES |
- |
|
16 |
90236818 |
18/08/1988 |
890,000.00 |
H. P STATEINDL. DEVE. CORP LTD |
NEW NIMRUS BUILDING
CORP., SHIMLA, HIMACHAL PRADES |
- |
|
17 |
90235372 |
27/06/1988 |
1,175,000.00 |
BANK OF INDIA |
HALL BAZAR, AMRITSAR, PUNJAB, INDIA |
- |
|
18 |
90233518 |
27/06/1988 |
2,300,000.00 |
BANK OF INDIA |
HALL BAZAR, AMRITSAR, PUNJAB, INDIA |
- |
|
19 |
90236809 |
10/05/1993 * |
6,000,000.00 |
H. P STATEINDL. DEVE. CORP LTD |
NEW NIMRUS BUILDING
CORP., SHIMLA, HIMACHAL PRADES |
- |
|
20 |
90236807 |
10/05/1993 * |
5,130,000.00 |
H. P STATEINDL. DEVE. CORP LTD |
NEW NIMRUS BUILDING
CORP., SHIMLA, HIMACHAL PRADES |
- |
|
21 |
90233472 |
20/12/1987 |
6,000,000.00 |
H. P. F. C. |
NEW HIMRUS BLDG.
CIRCULAR ROAD, SHIMLA, HIMACHAL P |
- |
|
22 |
90235356 |
20/11/1987 |
5,130,000.00 |
HPSIDC LTD |
NEW HIMRUS BLDG., CART
ROAD, SHIMLA, HIMACHAL PRA |
- |
|
23 |
90235351 |
14/10/1987 |
334,900.00 |
DIRECOT OF INDUSTRIES PUNJAB |
CHANDIGARH, CHANDIGARH, CHANDIGARH, INDIA |
- |
|
24 |
90236784 |
05/10/1987 |
4,600,000.00 |
H. P. F. C. |
HIMRUS BLDG., CIRCLULAR
ROAD, SHIMLA, HIMACHAL PR |
- |
|
25 |
90233402 |
20/01/1987 |
2,500,000.00 |
H. P. F. C. |
HIMRUS BLDG.,
CIRCLULAR ROAD, SHIMLA, HIMACHAL PR |
- |
|
26 |
90236731 |
27/01/1986 |
115,000.00 |
BANK OF INDIA |
HALL BAZAR, AMRITSAR, PUNJAB, INDIA |
- |
|
27 |
90233335 |
07/12/1985 |
900,000.00 |
BANK OF INDIA |
HALL BAZAR, AMRITSAR, PUNJAB, INDIA |
- |
|
28 |
90233323 |
12/10/1985 |
375,000.00 |
BANK OF INDIA |
HALL BAZAR, AMRITSAR, PUNJAB, INDIA |
- |
|
29 |
90233320 |
09/09/1985 |
135,000.00 |
BANK OF INDIA |
HALL ROAD, AMRITSAR, PUNJAB, INDIA |
- |
|
30 |
90233295 |
23/04/1985 |
365,000.00 |
BANK OF INDIA |
HALL BAZAR, AMRITSAR, PUNJAB, INDIA |
- |
FIXED ASSETS
·
Freehold Land
·
Factory Building
·
Plant and Machinery
·
Furniture and Fittings
·
Motor Vehicles
·
Computers
·
Moto Bikes
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 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.61.43 |
|
|
1 |
Rs.99.73 |
|
Euro |
1 |
Rs.77.93 |
INFORMATION DETAILS
|
Information Gathered
by : |
HNA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
JAY |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
31 |
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.