MIRA INFORM REPORT
|
Report No. : |
319706 |
|
Report Date : |
29.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
JYOTI PLASTIC WORKS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
90, Bombay Talkies Compound, Malad (West), Mumbai – 400064,
Maharashtra |
|
Tel. No.: |
91-22-28824448 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
09.10.1989 |
|
|
|
|
Com. Reg. No.: |
11-053825 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 6.200 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25200MH1989PTC053825 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in manufacturing of Injection moulding,
Articles of plastic, submersible pump parts, parts of Wind mill, composite
moulding etc. |
|
|
|
|
No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 360000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
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|
|
|
Litigation : |
Exist |
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|
|
|
Comments : |
Subject is an established company having a satisfactory track record. It was set up a proprietorship concern in 1959 and converted in to
private limited company in the year 1989. The company has reported profit in FY 2014 against loss in previous
financial year The company possesses above-average financial risk profile marked by
decent networth and adequate debt-protection measures. Trade relations are fair. Business is active. Payments are reported to
be usually correct. In view of long operational history and promoters extensive industry
experience the company can be considered for business dealings at usual trade
terms and conditions. Note: There has been an error in the director report filed by the
company. As per directors report the company reported net profit in FY2013,
however, as per schedules, it is confirmed that it has incurred a loss in
FY2013. |
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 |
CRISIL |
|
Rating |
Long term rating: BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
May 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: A3 |
|
Rating Explanation |
Moderate degree of safety and very high credit risk. |
|
Date |
May 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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Rashmin |
|
Designation : |
Account Department |
|
Contact No.: |
91-260-3091200 |
|
Date : |
24.04.2015 |
LOCATIONS
|
Registered Office : |
90, Bombay Talkies Compound, Malad (West), Mumbai – 400064, Maharashtra,
India |
|
Tel. No.: |
91-22-28824448 / 33857400 / 28813508 / 28823241 |
|
Fax No.: |
91-22-28820629 |
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E-Mail : |
|
|
Website : |
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|
Area: |
3000 Sq ft |
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
Pardi Paria Road, Near Paria High School, Dungri, Udwada, Dt. Valsad –
396185, Gujarat, India |
|
Tel. No.: |
91-260-3918200 / 2337237 |
|
|
|
|
Factory 2 : |
Survey No.178/1, 178/1/paiky-1, Bhramdev Industrial Park, Pardi Paria
Road, Village-Khadki, Taluka Pardi, Distict Valsad, Udwada – 396185, Gujarat,
India |
|
|
|
|
Factory 3 : |
Panchal Industrial Area, Bhimpore, Nani Daman. 396210, Union Territory of Daman and Diu, India. |
|
Tel. No.: |
91-260-3918900/ 2221653 |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Raju Daulatrai Desai |
|
Designation : |
Director |
|
Address : |
Flat No.08, Firdosh Building, 8th Floor, 18 Vallabh, Nagar
Society N.S. Road 4, Juhu Scheme, Ville Parle (West), Mumbai – 400056,
Maharashtra, India |
|
Date of Birth/Age : |
26.03.1961 |
|
Date of Appointment : |
15.09.1992 |
|
DIN No.: |
00685168 |
|
|
|
|
Name : |
Mr. Sanjau Daulatrai Desai |
|
Designation : |
Director |
|
Address : |
Devchhaya, 2nd Floor, N.S. Raod, No.5, JVPD Scheme, Ville
Parle (West), Mumbai – 400056, Maharashtra, India |
|
Date of Birth/Age : |
06.06.1964 |
|
Date of Appointment : |
13.05.1991 |
|
DIN No.: |
01553823 |
|
|
|
|
Name : |
Mr. Ashish Daulatrai Desai |
|
Designation : |
Director |
|
Address : |
Room No.4, The Huns CHS Limited, Opposite municipal School, Dawood
Baug Road, Andheri (West), Mumbai – 400058, Maharashtra, India |
|
Date of Birth/Age : |
07.12.1971 |
|
Date of Appointment : |
25.11.2005 |
|
DIN No.: |
02948099 |
KEY EXECUTIVES
|
Name : |
Mr. Rashmin |
|
Designation : |
Account Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Sanju Daulatrai Desai |
284800 |
45.94 |
|
Raju Daulatrai Desai |
284800 |
45.94 |
|
Neena Raju Desai |
25100 |
4.05 |
|
Malini Sanju Desai |
25100 |
4.05 |
|
Jaimati D. Desai |
200 |
0.03 |
|
Total |
620000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing of Injection moulding,
Articles of plastic, submersible pump parts, parts of Wind mill, composite
moulding etc. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
Engineering Plastic Products |
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Countries : |
USA |
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Imports : |
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Products : |
Engineering Plastic Products |
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Countries : |
Turkey |
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Terms : |
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Selling : |
Cash and Credit (30,60,90 Days) |
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Purchasing : |
Cash and Credit (30,60,90 Days) |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
250 (Approximately) |
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Bankers : |
Small Industries Development Bank of India, 1st Floor, Indraprastha Complex, Below Hotel, Sarvoday, Gunjan Char Rasta, GIDC, Vapi - 396195, Gujarat, India
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Facilities : |
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Auditors : |
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|
Name : |
B.L. Dasharda and Associates Chartered Accountants |
|
Address : |
301,Vastubh Apartment, Near Hanurnan Temple, DattaPada Cross Road No.
I, Borivali (East), Mumbai – 400066, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFB2781M |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
700000 |
Equity Shares |
Rs.10/- each |
Rs.7.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
620000 |
Equity Shares |
Rs.10/- each |
Rs.6.200 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
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 |
6.200 |
6.200 |
6.200 |
|
(b) Reserves & Surplus |
120.542 |
113.151 |
124.286 |
|
(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) |
126.742 |
119.351 |
130.486 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
32.915 |
38.958 |
36.750 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.337 |
|
(c) Other long term
liabilities |
0.599 |
1.003 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.781 |
|
Total
Non-current Liabilities (3) |
33.514 |
39.961 |
37.868 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
87.068 |
57.630 |
16.224 |
|
(b) Trade payables |
104.690 |
73.166 |
69.455 |
|
(c) Other current liabilities |
34.371 |
40.507 |
42.255 |
|
(d) Short-term provisions |
1.430 |
1.677 |
1.589 |
|
Total
Current Liabilities (4) |
227.559 |
172.980 |
129.523 |
|
|
|
|
|
|
TOTAL |
387.815 |
332.292 |
297.877 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
118.483 |
112.137 |
123.237 |
|
(ii) Intangible Assets |
1.273 |
2.121 |
3.196 |
|
(iii) Capital work-in-progress |
20.691 |
15.792 |
10.713 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.107 |
0.107 |
0.107 |
|
(c) Deferred tax assets (net) |
0.435 |
5.618 |
0.000 |
|
(d) Long-term Loan and Advances |
46.084 |
41.150 |
26.671 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
187.073 |
176.925 |
163.924 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
49.986 |
42.903 |
21.956 |
|
(c) Trade receivables |
107.575 |
74.227 |
86.743 |
|
(d) Cash and cash equivalents |
16.371 |
10.511 |
13.197 |
|
(e) Short-term loans and
advances |
25.722 |
26.667 |
9.507 |
|
(f) Other current assets |
1.088 |
1.059 |
2.550 |
|
Total
Current Assets |
200.742 |
155.367 |
133.953 |
|
|
|
|
|
|
TOTAL |
387.815 |
332.292 |
297.877 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
NA |
NA |
NA |
|
|
Other Income |
NA |
NA |
NA |
|
|
TOTAL
|
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
7.391 |
(11.135) |
12.081 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
108.135 |
119.270 |
107.189 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
115.526 |
108.135 |
119.270 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
NA |
15.463 |
22.655 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Purchase of Raw Materials |
NA |
15.463 |
NA |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
10.56 |
(17.96) |
19.49 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.95 |
0.81 |
0.41 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.88 |
0.90 |
1.03 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
6.200 |
6.200 |
6.200 |
|
Reserves & Surplus |
124.286 |
113.151 |
120.542 |
|
Net
worth |
130.486 |
119.351 |
126.742 |
|
|
|
|
|
|
long-term borrowings |
36.750 |
38.958 |
32.915 |
|
Short term borrowings |
16.224 |
57.630 |
87.068 |
|
Total
borrowings |
52.974 |
96.588 |
119.983 |
|
Debt/Equity
ratio |
0.406 |
0.809 |
0.947 |
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 |
Yes |
|
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 |
No |
|
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 |
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
|
Lodging No.:- |
NMAL/1697/2011 |
Filing Date:- |
09/06/2011 |
Reg. No.:- |
NMA/1697/2011 |
Reg. Date:- |
09/06/2011 |
|
|||||||
|
Lodging No.:- |
RPAL/42/2011 Main Matter |
|
Petitioner:- |
THE COMMISSIONER OF CENTRAL EXCISE, MUMBAI-V, MUMBAI. |
Respondent:- |
M/S. JYOTI PLASTIC WORKS PRIVATE LIMITED., MUMBAI. |
|
Petn.Adv:- |
SUCHITRA KAMBLE (0) |
|
|
|
District:- |
MUMBAI |
||
|
Bench:- |
DIVISION |
Category:- |
NOTICE OF MOTION (TAX) |
|
Status:- |
Pre-Admitted |
Stage:- |
NOTICE OF MOTION FOR HEARING [ORIGINAL SIDE MATTERS] |
|
Last Date:- |
20/01/2015 |
||
|
Last Coram:- |
HON'BLE SHRI JUSTICE S.C. DHARMADHIKARI HON'BLE SHRI JUSTICE A.A. SAYED |
||
|
Act. : |
C.P.C.- (Interlocutory Order) |
||
FINANCIAL RESULTS:
During the year, the Company has earned a profit of Rs. 7.391 Million.
CORPORATE
INFORMATION:
Subject is a private limited company registered in India, incorporated under the provisions of the Companies Act, 1956. The company is engaged in manufacturing of Injection moulding, Articles of plastic, submersible pump parts, parts of Wind mill, composite moulding etc. The company has two manufacturing facilities located at Gujarat.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
From Directors |
10.392 |
11.050 |
|
From Others |
5.138 |
7.140 |
|
Total |
15.530 |
18.190 |
|
Note:
|
||
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10302691 |
18/08/2011 |
12,000,000.00 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
1ST FLOOR, INDRAPRASTHA COMPLEX, BELOW HOTEL, SAR |
B18989616 |
|
2 |
90213481 |
13/01/2000 |
203,200.00 |
THE HONGKONG AND SHANGHAI BANKING CORPN. LIMITED |
NETWORK SERVICE CENTRE, SUDAM KALU AHIRE MARG; WO |
- |
|
3 |
90215650 |
02/11/2013 * |
152,500,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, NEAR CHINCHOLI PHATAK, |
B92708957 |
|
4 |
90215444 |
07/04/1995 |
1,181,000.00 |
STATE BANK OF INDIA |
MALAD (W) BRANCH, BOMBAY, MAHARASHTRA - 400064, IN |
- |
|
5 |
90215286 |
07/05/1991 |
17,400,000.00 |
STATE BANK OF INDIA |
MALAD (W), BOMBAY, MAHARASHTRA - 400064, INDIA |
- |
* Date of charge modification
FIXED ASSETS
Tangible Assets
- Freehold Land
- Factory Building
- Electrical Installation
- Furniture, Fixtures
- Computers*
- Vehicles
- Office Equipment
- Moulds
- FRP Cabin
- Plant & Machinery
Intangible Assets
- 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.63.33 |
|
|
1 |
Rs.96.52 |
|
Euro |
1 |
Rs.68.93 |
INFORMATION DETAILS
|
Information Gathered
by : |
PPT |
|
|
|
|
Analysis Done by
: |
SUC |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
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 |
|
45 |
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.