MIRA INFORM REPORT

 

 

Report No. :

334808

Report Date :

07.08.2015

 

IDENTIFICATION DETAILS

 

Name :

WARM FORGINGS PRIVATE LIMITED

 

 

Formally Known as:

C. N. C AUTOMOTIVE PRIVET LIMITED

 

 

Registered Office :

SPL -1D and 1E, RIICO Industrial Area, Bhiwadi, Alwar, – 301019, Rajasthan

Tel. No.:

91-1493-512214 / 512325

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

30.09.1999

 

 

Com. Reg. No.:

17 – 015907

 

 

Capital Investment / Paid-up Capital :

Rs.20.458 Million

 

 

CIN No.:

[Company Identification No.]

U34300RJ1999PTC015907

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AABBC7684C

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is engaged in Manufactures products related to gears for two – wheelers and four wheelers such as wheel hubs, gear blanks, sliding clutches, rotors and pulleys.

 

 

No. of Employees :

650 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (32)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 730000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Exist

 

 

Comments :

Subject is an established company having moderate track record.

 

For the financial year ended 2014, sales turnover of the company has declined which has resulted into dip in profit of the company during a year under a review.

 

Rating further constrained on account of company’s below average financial risk profile and moderate liquidity position of the company.

 

However, trade relations are reported as fair. Payments are reported to be slow but correct.

 

In view of aforesaid, the company can be considered for business dealing with some caution.

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

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

ICRA

Rating

Term Loan =B -

Rating Explanation

Risk-prone-credit-quality and carries very high credit risk.

Date

September 2014

 

 

Rating Agency Name

ICRA

Rating

Bank Guarantee = A4

Rating Explanation

Minimal degree of safety and very high credit risk.

Date

September 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 31-03-2013.

 

INFORMATION PARTED BY (GENERAL DETAILS)

 

Name :

Mr. Pandey

Designation :

Finance Manager

Contact No.:

91-8094001494

Date :

04.08.2015

 

LOCATIONS

 

Registered Office :

SPL -1D and 1E, RIICO Industrial Area, Bhiwadi, Alwar, – 301019, Rajasthan, India

Tel. No.:

91-1493-512214 / 512325

Mobile No.:

91-8094001494 (Mr. Pandey)

Fax No.:

91-1493516623

E-Mail :

info@warmforging.com

Website :

www.warmforging.com

Location :

Owned

 

 

Factory / Head Office :

F – 71, Phase – I,RIICO Industrial Area, Bhiwadi – 301019, Alwar , Rajasthan, India

Tel. No.:

91-1493510613 / 1493512214

Fax No.:

91-1493516623

E-Mail :

info@warmforging.com

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Amit Rajput

Designation :

Director

Address :

1/91, RHB Alampur, Panchayat Samiti, Tijara, Alwar – 301019, Rajasthan, India

Date of Birth/Age :

01.06.1970

Date of Appointment :

19.09.2003

PAN No.:

AAKPR6044H

DIN No.:

01299876

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

U34300RJ1999PTC015907

WARM FORGINGS PRIVATE LIMITED

Director

19-09-2003

19-09-2003

-

Active

NO

2

U74999DL2004PTC130037

MAH IMPEX PRIVATE LIMITED

Director

28-02-2008

28-02-2008

-

Active

NO

3

U34300DL2008PTC180701

Warm Gears Private Limited

Director

10-07-2008

10-07-2008

-

Active

NO

4

U50300DL2009PTC192369

CFM AUTOMOTIVES PRIVATE LIMITED

Director

20-07-2009

20-07-2009

-

Active

NO

5

U74899DL1990PTC040657

WARM OILTECH PRIVATE LIMITED

Director

02-04-2010

02-04-2010

-

Active

NO

 

 

Name :

Mr. Anupam Chauhan

Designation :

Director

Address :

117-118, Pocket A, A -3, Sector 11, Rohini, New Delhi – 110085, Delhi, India

Date of Birth/Age :

12.03.1970

Date of Appointment :

19.09.2003

PAN No.:

ADIPC8765B

DIN No.:

02173246

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

U34300RJ1999PTC015907

WARM FORGINGS PRIVATE LIMITED

Director

19-09-2003

19-09-2003

-

Active

NO

2

U34300DL2008PTC180701

WARM GEARS PRIVATE LIMITED

Director

10-07-2008

10-07-2008

-

Active

NO

3

U74999DL2004PTC130037

MAH IMPEX PRIVATE LIMITED

Director

14-07-2008

14-07-2008

-

Active

NO

4

U74899DL1990PTC040657

WARM OILTECH PRIVATE LIMITED

Director

29-09-2011

06-08-2010

-

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. Pandey

Designation :

Finance Manager

 

 

Name :

Mr. Bijender Singh Rajpur

Designation :

Tooling Purchase Department

Email:

toolingpurchase@warmforging.com

 

 

Name :

Mr. Ranveer Yadav

Designation :

Hr. Department

Email:

hr@warmforging.com

 

 

Name :

Mr. Praveen Kumar

Designation :

IT Department

Email:

it@warmforging.com

 

 

Name :

Mr. Pawan Kumar

Designation :

PPC Department

Email:

ppc@warmforging.com

 

 

Name :

Mr. Sunder Singh

Designation :

Quality Control Department

 

 

MAJOR SHAREHOLDERS

 

AS ON 30.09.2014

 

(SHAREHOLDERS DETAILS FILE ATTACHED)

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 30.09.2014

 

Category

Percentage

Bodies corporate

11.70

Directors or relatives of Directors

53.80

Other top fifty shareholders

34.50

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged in Manufactures products related to gears for two – wheelers such as wheel hubs, gear blanks, sliding clutches, rotors and pulleys.

 

 

Products :
  • Wheel Hubs
  • Gear Blanks
  • Sliding Clutches
  • Rotors
  • Pulleys etc.

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Finished Goods

Countries :
  • Iran
  • Italy

 

 

Imports :

 

Products :

Machinery

Countries :

Korea

 

 

Terms :

 

Selling :

Cash, credit and Depend

 

 

Purchasing :

Cash, credit and Depend

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

OEMs

 

  • Yamaha Motor India Private Limited
  • Denso India Limited
  • Hero Motors Limited
  • Kinetic Engineering Limited
  • LML Limited
  • Sona Somic Lemforder Components Limited
  • Mitsuba Sical India Limited
  • Valeo Transmission Limited, France
  • Metalcastello Castello S.p A, Italy
  • Raunaq Automotive Components Limited
  • Musashi Auto Parts India Private Limited
  • General Motors – Indirect Thru Avtec. Limited
  • Carraro S. p. A, Italy

 

 

No. of Employees :

650 (Approximately)

 

 

Bankers :
  • Allahabad Bank, 1/5 Rhb, Bhiwadi (Branch), Rajasthan, India

 

  • IDBI Bank Limited, Idbi Towerwtc Complex, Cuffe Parade, Mumbai - 400005, Maharashtra, India

 

Banker Name

State Bank of India

Branch Address

SME Branch, Delhi, India

Person Name (With Designation)

Not Divulged

Contact Number

91-11-23865204 (Ringing)

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

(Rs. In Million)

 

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Rupee term loans from others

30.600

21.320

Rupee term loans from banks

0.000

5.350

SHORT TERM BORROWING

 

 

Working capital loans from banks

83.003

91.467

Other loans and advances

29.236

32.975

Total

41.839

151.112

 

Financial Institute:
  • Rajasthan Financial Corporation, Udyog Bhawan, Tilak Marg, Jaipur - 302005, Rajasthan, India

 

  • Electronica Finance Limited, 128/A, Plot No.3,Kailashchandra Appartments, Paud Road, Kothrud, Pune - 411038, Maharashtra, India

 

 

Auditors :

 

Name :

DSP and Associates

Chartered Accountants

Address :

783, Deshbandhu Gupta Road, Near Faiz Road Crossing, Karol Bagh, New Delhi – 110065, India

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

AACFD8576A

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates :

Warm Gears Private Limited, India

CIN No: U34300DL2008PTC180701

 

Mah Impex Private Limited, India

CIN No: U74999DL2004PTC130037

 

R S  Alloys Private Limited, India

CIN No: U74899DL1990PTC040657

 

 

Other Related Party:

Rudrapur Precision Industries

PAN No: AABCC7684C

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

3000000

Equity Shares

Rs.10/- each

Rs.30.000 Million

 

 

 

 

 

Issued Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2285060

Equity Shares

Rs.10/- each

Rs.22.851 Million

 

 

 

 

 

 

Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

18065600

Equity Shares (Fully Paid Up)

Rs.10/- each

Rs.180.656 Million

478500

Equity Shares (Not Fully Paid Up)

Rs.10/- each

Rs. 23.925 Million

 

Total

 

Rs. 204.581 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

20.458

18.065

18.065

(b) Reserves & Surplus

204.158

144.753

127.489

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

33.690

47.850

22.250

Total Shareholders’ Funds (1) + (2)

258.306

210.668

167.804

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

87.265

108.598

37.558

(b) Deferred tax liabilities (Net)

9.717

10.690

14.927

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

2.392

2.392

2.392

Total Non-current Liabilities (3)

99.374

121.680

54.877

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

112.238

124.442

91.934

(b) Trade payables

194.979

198.437

197.449

(c) Other current liabilities

214.949

209.742

48.282

(d) Short-term provisions

10.112

4.999

7.985

Total Current Liabilities (4)

532.278

537.620

345.650

 

 

 

 

TOTAL

889.958

869.968

568.331

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

444.877

264.800

201.562

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

0.759

176.502

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

95.696

95.696

40.196

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

13.048

12.900

20.349

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

554.380

549.898

262.107

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

53.584

49.805

44.183

(c) Trade receivables

192.650

161.097

147.648

(d) Cash and cash equivalents

11.282

17.640

26.456

(e) Short-term loans and advances

76.418

90.005

86.820

(f) Other current assets

1.644

1.523

1.117

Total Current Assets

335.578

320.070

306.224

 

 

 

 

TOTAL

889.958

869.968

568.331

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Revenue from operation

1099.057

1348.780

1377.452

 

Other Income

14.377

12.743

13.250

 

TOTAL

1113.434

1361.523

1390.702

 

 

 

 

 

Less

TOTAL EXPENSES

1087.128

1339.225

1348.267

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

26.306

22.298

42.435

 

 

 

 

 

Less

TAX

12.359

5.035

14.171

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

13.947

17.263

28.264

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

6.82

8.44

13.82

 

 

 

Particulars

 

 

 

31.03.2015

Sales Turnover (Approximately)

 

 

1140.000

 

 

 

 

 

Expected Sales (2015-2016): Rs. 1500.000 Million

 

The above information has been parted by Mr. Pandey (Finance Manager)

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

42.340

59.554

25.900

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

NA

193.107

113.707

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Revenue from operation)

(%)

1.27

1.28

2.05

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

3.32

3.73

8.03

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.10

0.11

0.25

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.94

1.39

0.93

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.63

0.60

0.89

 

 

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

18.065

18.065

20.458

Reserves & Surplus

127.489

144.753

204.158

 Share Application money pending allotment

22.250

47.850

33.690

Net worth

167.804

210.668

258.306

 

 

 

 

long-term borrowings

37.558

108.598

87.265

Short term borrowings

91.934

124.442

112.238

Current maturities of long-term debts

25.900

59.554

42.340

Total borrowings

155.392

292.594

241.843

Debt/Equity ratio

0.926

1.389

0.936

 

 

 

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 operation

1377.452

1348.780

1099.057

 

 

(2.082)

(18.515)

 

 

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 operation

1377.452

1348.780

1099.057

Profit

28.264

17.263

13.947

 

2.05%

1.28%

1.27%

 

 

 

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

Yes

11

Pan Card No. of Proprietor / Partners

Yes

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)

Yes

16

No. of employees

Yes

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

Yes

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 four years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

Yes

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

Yes

33

Market information

--

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

 

 

LITIGATION DETAILS

 

 

PENDING

 

Date of query: 05.08.2015                                                Time : 11:11:51 AM

 

COP ‘3’ of 2013 – R                                                          202/2013

 

Petitioner:                                                                        HI – TECH INTERNATIONAL

Respondent:                                                                    WARM FORGINGS PRIVATE LIMITED

 

Petitioner Advocate:                                                       RAJENDRA SALECHA

 

Respondent Advocate:                                                    SANDEEP TANEJA

 

Class Code: 2501                                                              Registered on: 5/1/2013

 

Bench: SB                                                                       Stage: FOR ADMISSION – NOTICE SERVED

 

DATE GIVEN BY: PESHI CLERK DATE

 

Date of Listing: 04.09.2015

 

Listed in court no. 19 ON 31.07.2015

 

                                           Cases Detail in which this is Main Case

 

Filling Number                                                 Reg. No.                                                    Filing Date      

                   

CSTAY – 203/2013                                            80/2013                                                       3/1/2013

 

 

 

 

 

FINANCIAL POSITION AND WORKING RESULTS

 

During the year the Company has recorded Turnover of Rs 1099.056 Million in FY ending 31.03.2014 in comparison to Rs. 1348.780 Million of last FY. It means Company has recorded decrease of approx. 18.5 % in its Gross operating revenue during the FY 2013-14. In addition to its operating revenues the Company has recorded Other Income also from nonoperational activities of Rs. 14.377 Million during the year. The Company has posted net profit post tax at Rs. 13.947 Million in FY 2013-14 against previous year figure of Rs. 17.263 Million

 

 

 

 

 

UNSECURED LOAN

 

(Rs. In Million)

Particulars

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Deferred payment for acquisition of fixed

50.526

75.789

Loans and advances from directors

5.139

5.139

Other loans and advances, others

1.000

1.000

Total

56.665

81.928

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10541323

02/01/2015

183,500,000.00

RAJASTHAN FINANCIAL CORPORATION

UDYOG BHAWAN, JAIPUR, Rajasthan - 302005, INDIA

C39610456

2

10505153

01/08/2014 *

147,643,000.00

ALLAHABAD BANK

2, NETAJI SUBHASH ROAD, KOLKATA, West Bengal - 700001, INDIA

C25147380

3

10482026

07/03/2014

15,000,000.00

RAJASTHAN FINANCIAL CORPORATION

Udyog Bhawan, Tilak Marg, Jaipur, Rajasthan - 302005, INDIA

B98285414

4

10403859

17/04/2014 *

60,300,000.00

SBI GLOBAL FACTORS LIMITED

6TH FLOOR, METROPOLITAN BUILDING, BANDRA-KURLA, COMPLEX, BANDRA(EAST), MUMBAI, Maharashtra - 400051 , INDIA

C04110656

5

10396268

07/01/2013

26,666,667.00

ELECTRONICA FINANCE LIMITED

128/A, Plot No.3,Kailashchandra Appartments,, Pau 
d Road, Kothrud, Pune, Maharashtra - 411038, INDIA

B65634230

6

10276082

22/03/2011

30,000,000.00

ALLAHABAD BANK

1/5, RHB, BHIWADI, Rajasthan - 301019, INDIA

B09280264

7

10225450

16/10/2014 *

253,700,000.00

State Bank of India

SME Branch,, G.T. Road, Shahdara, New Delhi, Delhi 
- 110032, INDIA

C33016882

8

10193130

08/01/2010

5,100,000.00

RAJASHTHAN FINANCIAL CORPORATION

UDYOG BHAWAN, TILAK MARG, JAIPUR, Rajasthan - 302001, INDIA

A76258821

9

10155606

22/03/2011 *

29,100,000.00

ALLAHABAD BANK

1/5, RHB, BHIWADI, Rajasthan - 301019, INDIA

B09270422

10

10143707

03/02/2009

90,000,000.00

ALLAHABAD BANK

1/5, HIG, RHB, BHIWADI, Rajasthan - 301019, INDIA

A57338733

 

* Date of charge modification

 

 

CONTINGENT LIABILITIES:

 

(Rs. in million)

PARTICULARS

31.03.2014

31.03.2013

Guarantees

294.800

294.800

Other money for which company is contingently liable

2.295

3.399

Total contingent liabilities

297.095

298.199

 

 

FIXED ASSETS

 

Tangible assets

 

 

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 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 regisered 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.

 

69.31FOREIGN EXCHANGE RATES

 

Currency

 
Unit

Indian Rupees

US Dollar

1

Rs.63.76

UK Pound

1

Rs.99.60

Euro

1

Rs.69.71

 

 

INFORMATION DETAILS

 

Information Gathered by :

KAM

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

GTA

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILITY

1~10

4

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

4

--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

YES

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

32

 

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

ss

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.