MIRA INFORM REPORT
|
Report No. : |
317601 |
|
Report Date : |
14.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
JAYCEE HOMES PRIVATE LIMITED (w.e.f. 08.04.2014) |
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Formerly Known
As : |
JAYCEE HOMES LIMITED (w.e.f. 18.12.2006) JAYCEE HOMES AND HOTELS LIMITED |
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Registered
Office : |
501, Jaycee Homes, Prime Plaza, Next to Asha Parekh Hospital, S.
V. Road Santacruz (West), Mumbai –
400054, Maharashtra |
|
Tel. No.: |
91-22-67342222 |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
02.11.1993 |
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Com. Reg. No.: |
11-074824 |
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Capital
Investment / Paid-up Capital : |
Rs.155.000 Million |
|
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CIN No.: [Company Identification
No.] |
U45200MH1993PTC074824 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AABCJ0191K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Construction Activity. |
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No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limits : |
USD 560000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having moderate track record. Management has failed to file latest financials for FY14, with the
statutory authorities. The company possesses a moderate financial profile marked by low
position of reserves along with huge external borrowings which may act as
severe threat to the liquidity profile. Management has also reported a low net profitability during FY13. However, trade relations are seem to be fair. Business is active.
Payment terms are reported as slow. In view of long standing presence, the subject can be considered for
business dealings with 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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
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 DENIED
MANAGEMENT NON CO-OPERATIVE
Contact No.: 91-22-67342222
LOCATIONS
|
Registered Office / Corporate Office 1 : |
Jaycee Homes, Prime Plaza, 501, Next to Asha Parekh Hospital, S. V. Road Santacruz (West), Mumbai – 400054, Maharashtra, India |
|
Tel. No. : |
91-22-67342222 |
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Fax No. : |
91-22-67342223 |
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E-Mail : |
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Website : |
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Corporate Office 2 : |
Panchratna Near Panchvati Tower, Panch Marg, Versova, Andheri (West),
Mumbai – 400061, Maharashtra, India |
DIRECTORS
AS ON 27.09.2013
|
Name : |
Mr. Lakshman Purshottam Bhagtani |
|
Designation : |
Managing Director |
|
Address : |
A-11, Model Town Society, Gulmohar, Cross Road No. 7, Vile Parle
(West) Mumbai – 400049, Maharashtra, India
|
|
Date of Birth/Age : |
13.11.1952 |
|
Date of Appointment : |
02.11.1993 |
|
PAN No.: |
ABMPB6102H |
|
DIN No. : |
00133569 |
|
|
|
|
Name : |
Mr. Diipesh Lakshman Bhagtani |
|
Designation : |
Director |
|
Address : |
A-11, Model Town Society, Gulmohar, Cross Road No. 7, Vile Parle
(West) Mumbai – 400049, Maharashtra, India
|
|
Date of Birth/Age : |
20.05.1982 |
|
Date of Appointment : |
01.04.2005 |
|
PAN No.: |
AEZPB7533A |
|
DIN No. : |
00710482 |
|
|
|
|
Name : |
Mr. Mukesh Lakshman Bhagtani |
|
Designation : |
Director |
|
Address : |
A-11, Model Town Society, Gulmohar, Cross Road No. 7, Vile Parle
(West) Mumbai – 400049, Maharashtra, India
|
|
Date of Birth/Age : |
04.05.1980 |
|
Date of Appointment : |
27.09.2013 |
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PAN No.: |
ABYPB8291M |
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DIN No. : |
00710049 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.09.2013
|
Names of Shareholders |
No. of Shares |
%age |
|
Lakshman P. Bhagtani |
7029000 |
45.35 |
|
Maya L. Bhagtani |
2458000 |
15.86 |
|
Mukesh Lakshman Bhagtani |
1797560 |
11.60 |
|
Deesha M. Bhagtani |
1000110 |
6.45 |
|
Dipesh L. Bhartani |
2231610 |
14.40 |
|
Lakshman P. Bhagtani HUF |
983500 |
6.35 |
|
Vivek Paste |
110 |
0.00 |
|
Suman Manik |
110 |
0.00 |
|
|
|
|
|
Total |
15500000 |
100.00 |
AS ON 27.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Construction Activity. |
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Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institution : |
One Capitall Limited, Patel House, Ground Floor, Plot No.48, Gazdar Bandh, North Avenue Road, Santacruz (West), Mumbai - 400054, Maharashtra, India |
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Auditors : |
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Name : |
G. Vashi and Company Chartered Accountants |
|
Address : |
801 A, Sunflower, Gundechas, Vally Of Flower, Thakur Village Kandivali (East), Mumbai - 400101, Maharashtra, India |
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PAN
No. : |
AGAPV1671J |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries
: |
Not Available |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
Rs.10/- each |
Rs.300.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15500000 |
Equity Shares |
Rs.10/- each |
Rs.155.000 Million |
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FINANCIAL DATA
[all figures are
in Rupees Million]
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 |
155.000 |
155.000 |
155.000 |
|
(b) Reserves & Surplus |
40.709 |
35.772 |
32.148 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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|
|
|
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(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
195.709 |
190.772 |
187.148 |
|
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|
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(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
2093.600 |
1491.969 |
1064.642 |
|
(b) Deferred tax liabilities (Net) |
3.565 |
0.989 |
0.750 |
|
(c) Other long term
liabilities |
3.000 |
3.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
2100.165 |
1495.958 |
1065.392 |
|
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
7.632 |
63.529 |
|
(b) Trade
payables |
24.153 |
96.605 |
141.579 |
|
(c) Other
current liabilities |
1343.567 |
840.771 |
436.289 |
|
(d) Short-term provisions |
10.534 |
8.609 |
7.870 |
|
Total Current
Liabilities (4) |
1378.254 |
953.617 |
649.267 |
|
|
|
|
|
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TOTAL |
3674.128 |
2640.347 |
1901.807 |
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II.
ASSETS |
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|
|
|
(1) Non-current assets |
|
|
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|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
147.875 |
21.430 |
17.936 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
4.104 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.201 |
0.201 |
1.188 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
8.895 |
11.545 |
0.000 |
|
(e) Other
Non-current assets |
53.268 |
8.687 |
0.000 |
|
Total Non-Current
Assets |
214.343 |
41.863 |
19.124 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
68.457 |
|
(b)
Inventories |
2980.954 |
2359.536 |
1623.760 |
|
(c) Trade
receivables |
0.530 |
0.530 |
48.951 |
|
(d) Cash and
cash equivalents |
48.591 |
60.863 |
2.654 |
|
(e)
Short-term loans and advances |
404.236 |
167.038 |
138.603 |
|
(f) Other
current assets |
25.474 |
10.517 |
0.258 |
|
Total
Current Assets |
3459.785 |
2598.484 |
1882.683 |
|
|
|
|
|
|
TOTAL |
3674.128 |
2640.347 |
1901.807 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
80.682 |
90.006 |
|
|
|
Other Income |
|
0.262 |
5.041 |
|
|
|
TOTAL |
NA |
80.944 |
95.047 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employees benefits expense |
|
25.431 |
16.214 |
|
|
|
Other expenses |
|
41.684 |
51.446 |
|
|
|
TOTAL |
NA |
67.115 |
67.660 |
|
|
|
|
|
|
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|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
|
13.829 |
27.387 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
1.434 |
10.273 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
NA |
12.395 |
17.114 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
2.589 |
2.387 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
9.438 |
9.806 |
14.727 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
4.502 |
6.181 |
4.488 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
4.936 |
3.625 |
10.239 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
0.32 |
0.23 |
0.66 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin |
(%) |
NA |
4.49 |
11.38 |
|
|
|
|
|
|
|
Operating Profit Margin |
(%) |
NA |
17.14 |
30.43 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.26 |
0.37 |
0.77 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.05 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
10.70 |
7.86 |
6.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.51 |
2.72 |
2.90 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
155.000 |
155.000 |
155.000 |
|
Reserves & Surplus |
32.148 |
35.772 |
40.709 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
187.148 |
190.772 |
195.709 |
|
|
|
|
|
|
long-term borrowings |
1064.642 |
1491.969 |
2093.600 |
|
Short term borrowings |
63.529 |
7.632 |
0.000 |
|
Total borrowings |
1128.171 |
1499.601 |
2093.600 |
|
Debt/Equity ratio |
6.028 |
7.861 |
10.698 |
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 |
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 |
No |
|
24] |
Banking facility details |
No |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
LITIGATION DETAILS
Main Matter
|
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Million) |
31.03.2012 (Rs.
In Million) |
|
LONG TERM
BORROWINGS |
|
|
|
Intercorporate deposits |
654.060 |
53.953 |
|
Loans and advances from others |
979.498 |
547.135 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Other loans and advances |
0.000 |
7.632 |
|
|
|
|
|
Total |
1633.558 |
608.720 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10437702 |
25/06/2013 |
40,000,000.00 |
ONE CAPITALL LIMITED |
PATEL HOUSE, GR. FLOOR, PLOT NO.48, GAZDAR BANDH,, |
B79997292 |
|
2 |
10355973 |
22/05/2012 |
67,700,000.00 |
ICICI BANK LIMITED |
2ND FLOOR, TRANS TRADE CENTRE, FLORAL BECK PLAZA, |
B39691662 |
|
3 |
10359325 |
16/05/2012 |
25,000,000.00 |
ONE CAPITALL LIMITED |
PATEL HOUSE, GR. FLOOR, PLOT NO.48, GAZDAR BANDH,, |
B41087040 |
* Date of charge modification
FIXED ASSETS
- Buildings
- Furniture and Fixtures
- Vehicles
- Office Equipment
- Computer Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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.62.39 |
|
UK Pound |
1 |
Rs.91.06 |
|
Euro |
1 |
Rs.66.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
SNT |
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 |
3 |
|
--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 |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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.