MIRA INFORM REPORT
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Report No. : |
335155 |
|
Report Date : |
04.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
NATIONAL AUSTRALIA BANK LIMITED |
|
|
|
|
India Branch
Office : |
Unit No. : 901, 9th Floor, Nariman Bhavan, 227 Backbay Reclamation, Nariman Point, Mumbai – 400021, Maharashtra |
|
Tel. No.: |
91-22-67470948 / 67470049 / 61988200 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
15.06.2011 |
|
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Capital Investment
/ Paid-up Capital : |
Rs.7003.500 Million |
|
|
|
|
FCRN No.: |
F04158 |
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|
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IEC No.: |
Not Available |
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|
|
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Foreign Registered Bank |
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Line of Business
: |
Subject is engaged into provides various banking and financial services. |
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No. of Employees
: |
43264 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is Foreign Registered Bank and it is having a
satisfactory track. The National Australia Bank Limited (NAB) is one of Australia’s
largest bank and has been in existence for over 150 years. NAB and controlled
entities (the group) operates in Australia, Asia, New Zealand, the United
Kingdom and North America. NAB was granted the license to carry on banking business in India on
June 2011. For the financials year ended 2014 the total revenue stood at
Rs.634.200 Million against Rs.137.100 Million from its previous year 2013.
The Bank has reported profit of Rs.116.200 Million from its operations. Rating is constrained, the bank has reported accumulated losses over
past two years, however the rating take consideration on strong managerial
and financials support receives from the “National Australia Bank”
Australia. Trade relations are reported as fair. Business is active. Payment
terms are reported usually correct. In view of well reputed Bank in Australia, it can be considered good
for business dealings its usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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
31-03-2013.
INFORMATION DENIED
Management non co-operative
Contact No.: 91-22-61988200
LOCATIONS
|
Registered Office : |
Level 35, 500 Bourke Street, Melbourne – 3000, Victoria, Australia |
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Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Branch Office : |
Unit No. : 901, 9th Floor, Nariman Bhavan, 227 Backbay Reclamation, Nariman Point, Mumbai – 400021, Maharashtra, India |
|
Tel. No.: |
91-22-67470948 / 67470049 / 61988200 |
|
Fax No.: |
91-22-22871132 |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Michael Chaney |
|
Designation : |
Chairman |
|
Address : |
Level 1, 800 Bourke Street, Docklands, Melbourne - 3008, Victoria, Australia |
|
Date of Appointment : |
December, 2004 |
|
|
|
|
Name : |
Andrew Thorburn |
|
Designation : |
Group CEO and Executive Director |
|
Address : |
Level 1, 800 Bourke Street, Docklands, Melbourne - 3008, Victoria, Australia |
|
Date of Appointment : |
August, 2014 |
|
|
|
|
Name : |
David Armstrong |
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Designation : |
Non-Executive Director |
|
Address : |
Level 1, 800 Bourke Street, Docklands, Melbourne - 3008, Victoria, Australia |
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Date of Appointment : |
August, 2014 |
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|
|
|
Name : |
Daniel Gilbert |
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Designation : |
Non-Executive Director |
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Address : |
Level 1, 800 Bourke Street, Docklands, Melbourne - 3008, Victoria, Australia |
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Date of Appointment : |
September, 2004 |
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|
|
|
Name : |
Geraldine Mcbride |
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Designation : |
Non-Executive Director |
|
Address : |
Level 1, 800 Bourke Street, Docklands, Melbourne - 3008, Victoria, Australia |
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Date of Appointment : |
March, 2014 |
|
|
|
|
Name : |
Ken Henry |
|
Designation : |
Non-Executive Director |
|
Address : |
Level 1, 800 Bourke Street, Docklands, Melbourne - 3008, Victoria, Australia |
|
Date of Appointment : |
November, 2011 |
|
|
|
|
Name : |
Paul Rizzo |
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Designation : |
Non-Executive Director |
|
Address : |
Level 1, 800 Bourke Street, Docklands, Melbourne - 3008, Victoria, Australia |
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Date of Appointment : |
September, 2004 |
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|
|
|
Name : |
John Thorn |
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Designation : |
Non-Executive Director |
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Address : |
Level 1, 800 Bourke Street, Docklands, Melbourne - 3008, Victoria, Australia |
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Date of Appointment : |
October, 2003 |
|
|
|
|
Name : |
Geoffrey Tomlinson |
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Designation : |
Non-Executive Director |
|
Address : |
Level 1, 800 Bourke Street, Docklands, Melbourne - 3008, Victoria, Australia |
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Date of Appointment : |
March, 2000 |
|
|
|
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Name : |
Jillian Segal |
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Designation : |
Non-Executive Director |
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Address : |
Level 1, 800 Bourke Street, Docklands, Melbourne - 3008, Victoria, Australia |
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Date of Appointment : |
September, 2004 |
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|
|
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Name : |
John Waller |
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Designation : |
Non-Executive Director |
|
Address : |
Level 1, 800 Bourke Street, Docklands, Melbourne - 3008, Victoria, Australia |
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Date of Appointment : |
February, 2009 |
|
|
|
|
Name : |
Anthony Yuen |
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Designation : |
Non-Executive Director |
|
Address : |
Level 1, 800 Bourke Street, Docklands, Melbourne - 3008, Victoria, Australia |
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Date of Appointment : |
March, 2010 |
|
Name : |
Gautam Banerjee |
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Designation : |
Authorised Representative |
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Address : |
231, 23rd Floor, Tahnee Heights 66, N S Road, Mumbai, Maharashtra, India |
|
Date of Appointment : |
03.10.1958 |
|
PAN No.: |
AOEPB4105P |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
Not Available
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged into provides various banking and financial services. |
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services: |
Banking and financial services |
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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 |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
43264 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
S. R. Baltiboi and Associates LLP Chartered Accountants |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
CAPITAL ACCOUNT
[AS ON 31.03.2014]
|
Particulars |
|
Amount |
|
|
|
|
|
For Foreign Banks Deposit
kept with RBI u/s 11(2)(b) of the Banking Regulation Act, 1949 |
|
Rs.2000.000
Million |
|
Head Office Capital |
|
Rs.7003.500 Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
MUMBAI
BRANCH
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
CAPITAL AND
LIABILITIES |
|
|
|
|
|
|
|
|
|
Capital |
7003.500 |
1530.450 |
1530.450 |
|
Reserves and surplus |
29.065 |
0.000 |
0.000 |
|
Deposits |
3.887 |
0.000 |
0.000 |
|
Borrowings |
3615.505 |
1635.183 |
0.000 |
|
Other liabilities and
provisions |
111.891 |
48.633 |
18.891 |
|
|
|
|
|
|
TOTAL |
10763.848 |
3214.266 |
1549.341 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
|
|
|
|
|
Cash and balances with Reserve Bank of
India |
22.388 |
7.641 |
2.100 |
|
Balances with banks and money at call and
short notice |
4742.491 |
1247.919 |
1460.092 |
|
Investments |
2042.426 |
116.969 |
0.000 |
|
Advances |
3791.342 |
1635.909 |
0.000 |
|
Fixed assets |
43.470 |
28.268 |
32.482 |
|
Other assets |
97.177 |
65.810 |
31.124 |
|
Dabit
balance in profit and loss account |
24.554 |
111.750 |
23.543 |
|
|
|
|
|
|
TOTAL |
10763.848 |
3214.266 |
1549.341 |
|
|
|
|
|
|
Contingent liabilities |
10.000 |
1.500 |
0.000 |
|
Bills for collection |
--- |
-- |
-- |
PROFIT
& LOSS ACCOUNT
MUMBAI
BRANCH
|
|
PARTICULARS |
31.03.2014 |
3103.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Interest earned |
582.341 |
123.586 |
30.669 |
|
|
|
Other Income |
51.943 |
13.552 |
0.000 |
|
|
|
TOTAL |
634.284 |
137.138 |
30.669 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Interest expended |
5.214 |
0.150 |
0.000 |
|
|
|
Operating expenses |
368.852 |
217.629 |
54.212 |
|
|
|
Provisions and contingencies |
143.957 |
7.566 |
0.000 |
|
|
|
TOTAL |
518.023 |
225.345 |
54.212 |
|
|
|
|
|
|
|
|
|
PROFIT |
|
|
|
|
|
|
|
Net profit for the year |
116.261 |
(88.207) |
(23.543) |
|
|
|
Balance in Profit and Loss account brought forward |
(111.750) |
(23.543) |
0.000 |
|
|
|
TOTAL |
4.511 |
(111.750) |
(23.543) |
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to Statutory Reserve |
29.065 |
0.000 |
0.000 |
|
|
|
Transfer to other Reserve |
0.000 |
0.000 |
0.000 |
|
|
|
Balance carried over to Balance Sheet |
(24.554) |
(111.750) |
(23.543) |
|
|
|
TOTAL
|
4.511 |
(111.750) |
(23.543) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
3103.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from operating activities |
(1938.905) |
(203.005) |
(34.141) |
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) |
|
Capital |
1530.450 |
1530.450 |
7003.500 |
|
Reserves and surplus |
0.000 |
0.000 |
29.065 |
|
Net worth |
1530.450 |
1530.450 |
7032.565 |
|
|
|
|
|
|
Borrowings |
0.000 |
1635.183 |
3615.505 |
|
Total borrowings |
0.000 |
1635.183 |
3615.505 |
|
Debt/Equity ratio |
0.000 |
1.068 |
0.514 |
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) |
|
Interest earned |
30.669 |
123.586 |
582.341 |
|
|
|
302.967 |
371.203 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Interest earned |
30.669 |
123.586 |
582.341 |
|
Profit/Loss |
(23.543) |
(88.207) |
116.261 |
|
|
(76.76%) |
(71.37%) |
19.96% |
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 |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
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 |
Yes |
|
17 |
Details of sister concerns |
No |
|
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 |
No |
|
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 |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Claims against the bank
not acknowledged as debts |
--- |
--- |
|
Liabilities for partly
paid investments |
--- |
--- |
|
Liability on account of outstanding forward
exchange contracts |
--- |
--- |
|
Currency Swaps / IRS |
--- |
--- |
|
Guarantees given on
behalf of constituent |
--- |
--- |
|
Acceptances,
endorsements and other obligations |
|
|
|
In India |
--- |
--- |
|
Outside India |
--- |
--- |
|
Bills rediscounted |
--- |
--- |
|
Other items for which the
bank is contingently liable (Capital commitments) |
10.500 |
1.500 |
|
|
|
|
|
Total |
10.500 |
1.500 |
BACKGROUND
The
financial statements for the year ended 31 March 2014 comprise the accounts of Mumbai
Branch of National Australia Bank Limited, which is incorporated and registered
in Australia with limited liability.
In
June 2011, the Bank, received approval from the Reserve Bank of India for
opening its maiden branch in Mumbai, India. The Bank commenced business
operations from 03 January 2012 after all the necessary regulatory approvals
were in place.
The
Bank was included in Second Schedule to the Reserve Bank of India Act, 1934
vide notification DBOD. IBD. No. 10193 / 23.13.085/2011-12 dated 9 January 2012
published in the Gazette of India (Part III – Section 4) dated 4 February 2012.
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
FIXED ASSETS
- Office equipment
- Computer hardware and software
- Vehicles
- Furniture and Fixtures
- Leasehold improvements to premises
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 records 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.63.96 |
|
|
1 |
Rs.99.93 |
|
Euro |
1 |
Rs.70.16 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment record
(10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.