MIRA INFORM REPORT

 

 

Report No. :

334692

Report Date :

01.08.2015

 

IDENTIFICATION DETAILS

 

Name :

RADIANT POLYMERS PRIVATE LIMITED

 

 

Registered Office :

15th Floor, Eros Corporate Tower, Nehru Place, New Delhi – 110 019

Tel. No.:

91-120-4537200

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

05.08.1988

 

 

Com. Reg. No.:

55-032685

 

 

Capital Investment / Paid-up Capital :

Rs.19.954 million

 

 

CIN No.:

[Company Identification No.]

U74899DL1988PTC032685

 

 

IEC No.:

Not Available

 

 

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 mainly engaged in the manufacturing of Moulded Engineering Plastic Components which finds application in automotive, lighting and other industrial sectors.

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (28)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 435000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Company was incorporated on August 05, 1988. It is established company having moderate track record.


The ratings assigned to Radiant Polymers Private Limited (RPL) its moderate scale of operations and susceptibility of operating margin to raw material price volatility, highly competitive and fragmented nature of the industry.


The ratings further factor in its working capital-intensive nature of operations and leverage capital structure with moderate debt protection matrices.


The aforesaid constraints are partially offset by the rich experience of the promoters with long track record of operations and its moderate capacity utilizations.


However, trade relations are reported as fair. Business is active. Payment terms are reported to be slow but correct.


The company can be considered for business dealings 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.

 

ECGC Country Risk Classification List – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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

CARE

Rating

Long-Term Bank Facilities: B

Rating Explanation

Risk prone credit quality and carries very high credit risk.

Date

March 02, 2015

 

 

Rating Agency Name

CARE

Rating

Short-Term Bank Facilities: A4

Rating Explanation

Minimal degree of safety and very high credit risk.

Date

March 02, 2015

 

 

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 31-03-2013.

 

LOCATIONS

 

Registered Office :

15th Floor, Eros Corporate Tower, Nehru Place, New Delhi – 110 019, India 

Tel. No.:

Not Available

Fax No.:

Not Available

E-Mail :

info@radiantindustries.in

preeti2007bansal@gmail.com

Website :

http://www.radiantindustries.in

Location:

Rented

Locality:

Industrial

 

Head Office / Plant 1 :

A-4/7-8, Site IV, Sahibabad Industrial Estate, District Ghaziabad – 201 010, Uttar Pradesh, India

Tel. No.:

91-120-4537200

Fax No.:

91-120-2896206

 

Corporate Office :

C-56, A/12, 4th Floor, Technopolis IT HUB, Sector-62, Noida – 201 309, Uttar Pradesh, India

 

 

Plant 2 :

A-4/3, Site IV, Sahibabad Industrial Estate, District Ghaziabad – 201 010, Uttar Pradesh, India

 

Plant 3 :

Plot No.13-A, Sector 2A, Integrated Industrial Estate, Rudrapur, District U.S. Nagar – 263 153, Uttarakhand, India

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Kumud Jayee

Designation :

Director

Address :

B-106, Sector-31, Gautam Budh Nagar, Noida – 201 301, Uttar Pradesh, India

Date of Birth/Age :

07.06.1956

Date of Appointment :

05.08.1988

DIN No.:

00055684

 

Name :

Mr. Nalin Bahl

Designation :

Director

Address :

House No.1, Road No.41, Punjabi Bagh West, New Delhi – 110 026, India

Date of Birth/Age :

30.01.1954

Date of Appointment :

05.08.1988

DIN No.:

00055730

Other Directorship :

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U74899DL1988PTC032685

RADIANT POLYMERS PRIVATE LIMITED

Director

05/08/1988

05/08/1988

-

Active

NO

2

U25209DL2008PTC176551

RADIANT COMPLAST PRIVATE LIMITED

Director

09/04/2008

09/04/2008

-

Active

NO

 

Name :

Mr. Nitin Bahl

Designation :

Director

Address :

1/41, Punjabi Bagh West, New Delhi – 110 026, India

Date of Birth/Age :

17.10.1980

Date of Appointment :

15.02.2007

DIN No.:

01121465

Other Directorship :

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U74899DL1988PTC032685

RADIANT POLYMERS PRIVATE LIMITED

Director

15/02/2007

15/02/2007

-

Active

NO

2

U72300DL2007PTC168097

JASPER INFOTECH PRIVATE LIMTED

Director

12/09/2007

12/09/2007

16/09/2009

Active

NO

3

U25209DL2008PTC176551

RADIANT COMPLAST PRIVATE LIMITED

Director

09/04/2008

09/04/2008

-

Active

NO

4

U74140DL2015PTC276555

SUVEER INVESTMENTS PRIVATE LIMITED

Director

11/02/2015

11/02/2015

-

Active

NO

5

U72200DL2015PTC277849

NITYANTA TECHNOLOGIES PRIVATE LIMITED

Director

12/03/2015

12/03/2015

-

Active

NO

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

 

No. of Shares

Percentage of Holding

Kumud Jayee

99769

50.00

Nalin Bahl

99286

49.76

Pratibha Bahl

483

0.24

Total

199538

100.00

 

 

AS ON 30.09.2014

 

Equity Share Breakup

 

Percentage of Holding

Category

 

 

Directors or relatives of directors

 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is mainly engaged in the manufacturing of Moulded Engineering Plastic Components which finds application in automotive, lighting and other industrial sectors.

 

 

Products :

Moulded Engineering Plastic Components

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Available

 

 

Imports :

Not Available

 

 

Terms :

 

Selling :

Not Available

 

 

Purchasing :

Not Available

 

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Available

Name of the Person :

Not Available

Contact No.:

Not Available

Since How Long Known :

Not Available

Maximum Limit Dealt :

Not Available

Experience :

Payment Behaviour

Market Goodwill

Overall

Not Available

Not Available

Not Available

Remark:

Not Available

 

 

Customers :

Reference :

Not Available

Name of the Person :

Not Available

Contact No.:

Not Available

Since How Long Known :

Not Available

Maximum Limit Dealt :

Not Available

Experience :

Product Quality

Delivery Behaviour

Overall

Not Available

Not Available

Not Available

Remark:

Not Available

 

 

No. of Employees :

Not Available

 

 

Bankers :

Banker Name

Canara Bank

Branch Address

Sahibabad, Ghaziabad, Uttar Pradesh, India

Person Name (With Designation)

Not Available

Contact Number

Not Available

Name of Account Holder

Not Available

Account Number

Not Available

Account Since (Date/Year of Account Opening)

Not Available

Average Balance Maintained (If Possible)

Not Available

Credit Facilities Enjoyed (If any)

Not Available

Account Operation

Not Available

Remarks (If any)

Not Available

 

  • Allahabad Bank, A -6, Sector10, Noida – 201 301, Uttar Pradesh, India
  • Oriental Bank of Commerce, S.S.I. Branch, Sahibabad, Ghaziabad, Uttar Pradesh, India
  • HDFC Bank Limited
  • IDBI Bank Limited
  • ICICI Bank Limited

 

 

Facilities :

Secured Loans

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

LONG TERM BORROWINGS

 

 

Term Loans from Bank

(Term loan from bank is primarily secured against entire plant and machinery of the Company both present and the future and collaterally secured against personal guarantee of directors, pledge of 30% of equity capital of the Company and land and building situated at Ghaziabad and Uttarakhand. The term loan is repayable at the interest rate of 14-1 5% per annum.)

8.869

7.289

Term Loans from Other

(Term loan from other is secured against hypothecation of machineries. The term loan is repayable over the period of 4 years and carries interest rate of 14% per annum.)

22.163

7.758

SHORT TERM BORROWINGS

 

 

Loans from Banks

 

 

Cash credit facilities

(Cash credit facilities are secured against hypothecation of stock, books debts and other currents of the Company. The cash credit is repayable on demand and carries interest rate of 14% p.a.)

210.180

207.060

Total

241.212

222.107

 

Financial Institution :

Electronica Finance Limited, 128/A, Plot No.3, Kailashchandra Apartments, Paud Road, Kothrud, Pune – 411 038, Maharashtra, India

 

 

Auditors :

 

Name :

S. Bahl and Company

Chartered Accountants

Address :

17, Barakhamba Road, Vijaya Building, (L.G. Floor 69-70), New Delhi – 110 001, India

Tel. No.:

91-11-23321536

Fax No.:

91-11-23350662

E-Mail :

info@sbahl.com

Website :

www.sabhl.com

Income-tax PAN of auditor or auditor's firm :

AAIFS7562B

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associated Enterprises :

Radiant Complast Private Limited

Factory Address: Plot No.F-591, 592, Industrial Area, Phase-I, Bhiwadi, District Alwar – 301 019, Rajasthan, India

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

800000

Equity Shares

Rs.100/- each

Rs.80.000 million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

199538

Equity Shares

Rs.100/- each

Rs.19.954 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

19.954

19.954

19.954

(b) Reserves & Surplus

132.285

115.911

156.231

(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)

152.239

135.865

176.185

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

119.397

119.646

108.944

(b) Deferred tax liabilities (Net)

6.548

4.441

5.043

(c) Other long term liabilities

0.000

0.000

0.000

(d) Long-term provisions

11.688

10.837

0.000

Total Non-current Liabilities (3)

137.633

134.924

113.987

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

210.180

207.060

196.633

(b) Trade payables

173.794

135.240

150.201

(c) Other current liabilities

70.133

48.742

40.615

(d) Short-term provisions

20.752

16.628

16.207

Total Current Liabilities (4)

474.859

407.670

403.656

 

 

 

 

TOTAL

764.731

678.459

693.828

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

266.048

261.852

264.952

(ii) Intangible Assets

0.482

0.661

0.000

(iii) Capital work-in-progress

0.762

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

6.825

10.050

10.050

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

13.401

7.029

5.706

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

287.518

279.592

280.708

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

224.813

194.744

198.020

(c) Trade receivables

175.790

141.941

131.870

(d) Cash and cash equivalents

9.881

13.984

27.987

(e) Short-term loans and advances

66.729

48.198

55.243

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

477.213

398.867

413.120

 

 

 

 

TOTAL

764.731

678.459

693.828

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Revenue from Operations

949.910

819.723

790.240

 

 

Other Income

1.414

5.523

10.101

 

 

TOTAL                                    

951.324

825.246

800.341

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

602.982

552.008

500.165

 

 

Changes in Inventory

(31.108)

(0.320)

0.710

 

 

Employee Benefit Expenses

63.094

67.157

98.443

 

 

Other Expenses

210.162

164.647

96.608

 

 

TOTAL                                    

845.130

783.492

695.926

 

 

 

 

 

Less

PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION, PRIOR PERIOD AND EXTRAORDINARY ITEMS

106.194

41.754

104.415

 

 

 

 

 

Less

FINANCIAL EXPENSES                                   

50.622

48.738

48.742

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION, PRIOR PERIOD AND EXTRAORDINARY ITEMS

55.572

(6.984)

55.673

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

35.963

34.072

31.071

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX & PRIOR PERIOD AND EXTRAORDINARY ITEMS

19.609

(41.056)

24.602

 

 

 

 

 

 

LOSS/ (PROFIT) ON SALE OF FIXED ASSETS

0.199

(0.134)

0.000

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX

19.410

(40.922)

24.602

 

 

 

 

 

Less

TAX                                                                 

3.036

(0.602)

4.920

 

 

 

 

 

 

PROFIT/ (LOSS) AFTER TAX

16.374

(40.320)

19.682

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

24.083

64.403

44.721

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

40.457

24.083

64.403

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Sales (Net)

27.946

38.635

66.451

 

TOTAL EARNINGS

27.946

38.635

66.451

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

101.955

78.959

75.642

 

 

Stores & Spares

26.124

1.651

0.132

 

 

Capital Goods/ Mould & Dies

16.613

16.665

28.530

 

TOTAL IMPORTS

144.692

97.275

104.304

 

 

 

 

 

 

Earnings/ (Loss) Per Share (Rs.)

82.06

(202.07)

98.64

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current maturities of long-term borrowings

2.028

13.593

15.314

Cash generated from operations

NA

43.496

113.798

Net cash from operating activities

NA

43.496

108.748

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

1.72

(4.92)

2.49

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

11.18

5.09

13.21

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

2.56

(6.12)

3.60

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.13

(0.30)

0.14

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

2.18

2.50

1.82

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.00

0.98

1.02

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particulars

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

19.954

19.954

19.954

Reserves & Surplus

156.231

115.911

132.285

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

176.185

135.865

152.239

 

 

 

 

Long-term borrowings

108.944

119.646

119.397

Short term borrowings

196.633

207.060

210.180

Current maturities of long-term debts

15.314

13.593

2.028

Total borrowings

320.891

340.299

331.605

Debt/Equity ratio

1.821

2.505

2.178

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Revenue from Operations

790.240

819.723

949.910

 

 

3.731

15.882

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Revenue from Operations

790.240

819.723

949.910

Profit

19.682

-40.320

16.374

 

2.49%

-4.92%

1.72%

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity-Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

No

8

Designation of contact person

No

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

No

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

Yes

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

OPERATING AND PROSPECTS

 

During the year the turnover of the Company increased to Rs.1033.714 million as compared to the last year turnover i.e. Rs.887.906 million. The company earned profit of 16.374 million during the current financial year as compared to previous year loss of Rs.40.320 million. The company's policies and business strategies produced high quality products with competitive cost that enabled it, to strengthen its position both in domestic as well as in International market. The Directors are optimistic for future.

 

UNSECURED LOAN

PARTICULARS

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

LONG TERM BORROWINGS

 

 

Term loans From Banks

(Term loan from bank is repayable over the period of 3 years and carries interest rate of 18% per annum.)

1.372

1.590

Loans and Advances from Other

(Loan from other parties is repayable over the period of 5 years and carries interest rate of 14.75% to 18% per annum.)

81.221

84.361

Loans and Advances From Related Parties

(Loan From related party does not carny any interest and also there is no term stipulated for its repayment.)

5.772

18.648

Total

88.365

104.599

 

 

INDEX OF CHARGES:

 

S. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

ADDRESS

Service Request Number (SRN)

1

10528495

22/09/2014

2,127,720.00

ELECTRONICA FINANCE LIMITED

128/A, PLOT NO.3, KAILASHCHANDRA APARTMENTS, PAUD ROAD, KOTHRUD, PUNE, MAHARASHTRA - 411038, INDIA

C31827918

2

10452840

25/09/2013

15,788,082.00

ELECTRONICA FINANCE LIMITED

128/A, PLOT NO.3, KAILASHCHANDRA APARTMENTS, PAUD ROAD, KOTHRUD, PUNE, MAHARASHTRA - 411038, INDIA

B86568839

3

10374627

24/08/2012

4,929,764.00

ELECTRONICA FINANCE LIMITED

128/A, PLOT NO.3, KAILASHCHANDRA APARTMENTS, PAUD ROAD, KOTHRUD, PUNE, MAHARASHTRA - 411038, INDIA

B57341703

4

10343316

18/02/2012

2,030,055.00

ELECTRONICA FINANCE LIMITED

128/A, PLOT NO.3, KAILASHCHANDRA APARTMENTS, PAUD ROAD, KOTHRUD, PUNE, MAHARASHTRA - 411038, INDIA

B35512367

5

10216966

05/12/2011 *

318,900,000.00

ALLAHABAD BANK

A-6 SECTOR-10, NOIDA, NOIDA, UTTAR PRADESH - 201301, INDIA

B27917426

6

10219810

23/03/2010

293,350,000.00

ALLAHABAD BANK

A-6, SECTOR 10, NOIDA, NOIDA, UTTAR PRADESH - 201301, INDIA

A85507929

 

* Date of charge modification

 

 

CONTINGENT LIABILITIES (AS ON 31.03.2014):

 

a. Company has given a corporate guarantee to IFCI Factors Limited for its sister concern Radiant Complast Private Limited, the amount of guarantee ranging from amount outstanding to Maximum of Rs.50.000 million.

 

b. For A.Y. 2008-09, the Income Tax department has filed an appeal before ITAT against the relief granted by CIT (Appeals). Appeal is still pending.

 

c. Demand for the A.Y. 2009-10 of Rs.1.203 million for which the company has filed an appeal before ITAT against the order of the CIT (Appea1s) and is still pending.

 

d. Demand for the A.Y 2010-1 1 of Rs.9.402 million for which the company had filed an appeal before CIT (Appeals) and the order has been quashed and decided in favour of the assessee wide order of the CIT(A) No.68/13-14 dated 11.04.2014.

 

e. Deposit Rs.0.646 million as security towards Assistant Commissioner Commercial towards Goods seized by the Vat department and the proceeding is in process.

 

f. Prosecution proceeding before Ld M.M Tis Hazari Court Delhi against the Company

 

g. Demand for the A.Y 201 1-12 of Rs.0.473 million has been raised by department under Regular Assessment and the proceeding is in process

 

 

FIXED ASSETS:

 

Tangible Assets

·         Land

·         Building

·         Plant and Machinery

·         Moulds and Dies

·         Computers

·         Furniture and Fixture

·         Vehicles

Intangible Assets

·         Computer Software

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, 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.64.01

UK Pound

1

Rs.99.84

Euro

1

Rs.70.16                    

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAS

 

 

Report Prepared by :

SMN

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILITY

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

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

28

 

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

 

--

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.