MIRA INFORM REPORT

 

 

Report No. :

335799

Report Date :

08.08.2015

 

IDENTIFICATION DETAILS

 

Name :

SJS PLASTIBLENDS PRIVATE LIMITED

 

 

Registered Office :

L-16/17 MIDC, Waluj, Aurangabad-431136, Maharashtra

Tel. No.:

91-240-2553937

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

05.01.1996

 

 

Com. Reg. No.:

11-095981

 

 

Capital Investment / Paid-up Capital :

Rs. 4.023 Million

 

 

CIN No.:

[Company Identification No.]

U25209MH1996PTC095981

 

 

IEC No.:

0396042031

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AACCS5521M

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer of Polymer Compound, Thermoplastic Compounds, Master Batches, Gearbox for Washing Machine, Dash Boards, Floor Consoles, Nacelle, Seat Risertrim, etc.

 

 

No. of Employees :

50 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (29)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 219000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is established company incorporated on 5th January 1996 and it is having a moderate track record.


As per Registrar of Companies the date of balance sheet (i.e. financial filed) is shown as 31.03.2014 but the documents related to the financials are not been available from any sources.


The rating takes account on SJS Plastiblents Private Limited moderate operational as well as financials risk profile. The company has reported losses from its operations during FY 2013. Rating further, constrained on the company decline in the reserve position, low profit margin leading to stretch in liquidity profile of the company.


However, rating take consideration on company established track record, experience of the promoters in the industry backed by diversified product portfolio and established customers base.


Trade relations are fair. Business is active. Payment terms are slow but correct.


In view of established track record, 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

 

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 PARTED BY (GENERAL DETAILS)

 

Name :

Mr. Ramchandra Chintamanbiware

Designation :

Manager

Contact No.:

91-9765400382

Date :

07.08.2015

 

 

LOCATIONS

 

Registered Office/ Factory :

L-16/17 MIDC, Waluj, Aurangabad-431136, Maharashtra, India

Tel. No.:

91-240-2553937/ 2555710/ 2555711

Mobile No.:

91-9765400382 (Mr. Ramchandra Chintamanbiware)

Fax No.:

91-240-2553509

E-Mail :

devendraring@gmail.com

sjsmarketing@sjsplastiblends.com

Website :

http://www.sjsplastiblends.com

Location :

Owned

Locality :

Industrial

 

 

Area Representatives:

Located at:

 

·         Pune

·         Bangalore

·         New Delhi

 

 

DIRECTORS

 

AS ON 19.07.2013

 

Name :

Mr. Shankar Purshottam Subhedar

Designation :

Director

Address :

Plot No.11, Bharatnagar Co-Operative Housing Society, Darga Road, Shahnoorwadi, Aurangabad-431005, Maharashtra, India

Date of Birth/Age :

28.05.1952

Date of Appointment :

01.04.2012

DIN No.:

00251658

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

Company/ LLP Status

Defaulting status

1

U25209MH1996PTC095981

SJS PLASTIBLENDS PRIVATE LIMITED

Whole-time director

01-04-2012

06-12-2004

Active

NO

 

 

Name :

Mr. Laxmikant Govind Joshi

Designation :

Director

Address :

Plot No. 15855/1/1, Baba Hardasnagar, New Shreynagar, Osmanpura, Aurangabad-431005, Maharashtra, India

Date of Birth/Age :

09.09.1953

Date of Appointment :

01.04.2012

DIN No.:

00264968

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

Company/ LLP Status

Defaulting status

1

U25209MH1996PTC095981

SJS PLASTIBLENDS PRIVATE LIMITED

Whole-time director

01-04-2012

25-01-2007

Active

NO

 

 

Name :

Mr. Sadanand Vasant Shabde

Designation :

Director

Address :

Kripa Bunglow, Shahnoormiya Darga Road, Tilak Nagar, Aurangabad- 431105, Maharashtra, India

Date of Birth/Age :

25.03.1953

Date of Appointment :

01.04.2012

DIN No.:

00848189

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

Company/ LLP Status

Defaulting status

1

U74210MH1996PTC103666

SHABDE CONSULTANTS PRIVATE LIMITED

Director

31-10-1996

31-10-1996

Strike off

NO

2

U28920MH1997PTC106801

VIKRAM SPECIALITY COATINGS PRIVATE LIMITED

Director

25-03-1997

25-03-1997

Dormant

NO

3

U25209MH1996PTC095981

SJS PLASTIBLENDS PRIVATE LIMITED

Whole-time director

01-04-2012

06-12-2004

Active

NO

4

L26920MH1986PLC038607

MORGANITE CRUCIBLE (INDIA) LIMITED

Director

25-09-2014

19-11-2009

Active

NO

5

U27100GJ1981PLC004450

DIAMOND CRUCIBLE COMPANY LIMITED

Director

23-09-2010

23-09-2010

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. Ramchandra Chintamanbiware

Designation :

Manager

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 19.07.2013

 

Names of Shareholders

No. of Shares

 

Laxmikant Govind Joshi

9329

Laxmikant Govind Joshi (HUF)

4080

Shankar Purshottam Subhedar

4595

Neelima Shankar Subhedar

5490

Jatin Shankar Subhedar

3323

Sadanand Vasant Shabde

8606

Gauri Sadanand Shabde

4801

Vikram Sadanand Shabde

1

Total

40225

 

 

AS ON 19.07.2013

 

Equity Share Breakup

Percentage of Holding

Category

 

Directors or relatives of directors

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Polymer Compound, Thermoplastic Compounds, Master Batches, Gearbox for Washing Machine, Dash Boards, Floor Consoles, Nacelle, Seat Risertrim, etc.

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

 

Products :

--

Countries :

--

 

 

Imports :

 

Products :

Raw Material

Countries :

·         Korea

·         Malaysia

 

 

Terms :

 

Selling :

Cash, Cheque and Credit (60 days and 90 days)

 

 

Purchasing :

Cash, Cheque and Credit (60 days and 90 days)

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

Customers :

Wholesalers and Retailers

 

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

Automatic OEMs

 

·         Ashok Leyland

·         Bajaj

·         JCB

·         Ford

·         Mahindra and Mahindra

 

Non-Automatic OEMs

 

·         GE Industries

·         LG Electronics

·         V Guard

·         Racold

·         Samsung

 

 

No. of Employees :

50 (Approximately)

 

 

Bankers :

Bank Name:

Not Divulged

Branch:

Not Divulged

Person Name (With Designation):

Not Divulged

Contact Number:

Not Divulged

Name Of Account Holder:

Not Divulged

Account Number:

Not Divulged

Account Since (Date/ Year Of A/C Opening):

Not Divulged

Average Balance Maintained (Optional):

Not Divulged

Credit Facilities Enjoyed (Cc/Od/Term Loan):

Not Divulged

Account Operation:

Not Divulged

Remarks:

Not Divulged

 

·         The Sarswat Co-Operative Bank Limited

Khadkeshwar Branch, Madhuleni Bulding, Khadakeswar, Aurangabad - 431001,

Maharashtra, India

 

 

Facilities :

SECURED LOANS

31.03.2013

(Rs. In Million)

31.03.2012

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Saraswat Co-Operative Bank Limited (P and  M)

6.353

9.386

Saraswat Co-Operative Bank Limited (New P and  M)

16.785

25.884

State Bank of India (Car Loan-MH 20 BN 6316)

1.439

2.363

State Bank of India (Car Loan-MH 20 BN 6313)

1.439

2.363

State Bank of India (Car Loan-MH 20 BN 6319)

1.439

2.363

 

 

 

SHORT TERM BORROWINGS

 

 

Working Capital Loan from Banks

 

 

Saraswat Co Operative Bank Limited

91.792

44.722

 

 

 

Total

119.247

87.081

 

Banking Relations :

--

 

 

Auditors :

 

Name :

V D Abhyankar and Associates

Chartered Accountants

Address :

Flat No. 3 1st Floor Rukmini Apartment, Chetana Nagar, Aurangabad-431001, Maharashtra, India

Tel. No.:

91-240-2332460/ 6421755

Mobile No.:

91-9822030471

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

AADFK8279L

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Associates/Subsidiaries :

Not Available

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2013

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

290000

Equity Shares

Rs. 100/- each

Rs. 29.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

40225

Equity Shares

Rs. 100/- each

Rs. 4.023 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2013

31.03.2012

31.03.2011

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

4.023

4.023

4.023

(b) Reserves & Surplus

72.542

80.489

99.436

(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)

76.565

84.512

103.459

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

85.737

103.531

120.167

(b) Deferred tax liabilities (Net)

0.000

4.323

8.091

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

85.737

107.854

128.258

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

91.792

44.722

123.171

(b) Trade payables

94.157

68.434

59.627

(c) Other current liabilities

52.706

49.666

43.570

(d) Short-term provisions

5.931

6.353

13.608

Total Current Liabilities (4)

244.586

169.175

239.976

 

 

 

 

TOTAL

406.888

361.541

471.693

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

133.725

158.273

182.157

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

0.000

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.000

0.000

0.000

(c) Deferred tax assets (net)

0.025

0.025

0.025

(d)  Long-term Loan and Advances

0.053

0.000

2.514

(e) Other Non-current assets

2.521

2.521

0.000

Total Non-Current Assets

136.324

160.819

184.696

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

64.951

65.387

128.466

(c) Trade receivables

185.724

113.529

118.438

(d) Cash and cash equivalents

3.924

3.554

6.208

(e) Short-term loans and advances

11.399

17.122

33.706

(f) Other current assets

4.566

1.130

0.179

Total Current Assets

270.564

200.722

286.997

 

 

 

 

TOTAL

406.888

361.541

471.693

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

 

 

 

Income

655.621

561.899

669.680

 

 

Other Income

7.079

3.201

0.520

 

 

TOTAL                                    

662.700

565.100

670.200

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                    

647.600

546.700

616.200

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

15.100

18.400

54.000

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

27.300

33.500

13.900

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

(12.200)

(15.100)

40.100

 

 

 

 

 

Less

TAX                                                                 

(4.300)

3.800

13.200

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

(7.900)

(18.900)

26.900

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

107.192

59.587

83.612

 

 

Stores Parts & Consumables

0.119

0.401

0.108

 

 

Capital Goods

0.000

0.000

36.889

 

TOTAL IMPORTS

107.311

59.988

120.609

 

 

 

 

 

 

Earnings/ (LOSS)  Per Share (Rs.)

(196.40)

(469.86)

668.74

 

 

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2013

31.03.2012

31.03.2011

Current Maturities of Long term debt

17.486

17.493

41.429

 

 

 

 

Cash Generated from Operations

NA

NA

NA

 

 

 

 

Net Cash Flow from used in Operations

NA

NA

NA

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

31.03.2013

31.03.2012

31.03.2011

Net Profit Margin

(PAT / Sales)

(%)

(1.20)

(3.36)

4.02

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

(3.00)

(4.18)

8.50

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

(0.16)

(0.18)

0.39

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

2.55

1.96

2.75

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.11

1.19

1.20

 

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

 

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

4.023

4.023

4.023

Reserves & Surplus

99.436

80.489

72.542

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

103.459

84.512

76.565

 

 

 

 

Long-term borrowings

120.167

103.531

85.737

Short term borrowings

123.171

44.722

91.792

CURRENT MATURITIES OF LONG-TERM DEBTS

41.429

17.493

17.486

Total borrowings

284.767

165.746

195.015

Debt/Equity ratio

2.752

1.961

2.547

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Total Income

670.200

565.100

662.700

 

 

(15.682)

17.271

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Total Income

670.200

565.100

662.700

Profit

26.900

(18.900)

(7.900)

 

4.01%

(3.34%)

(1.19%)

 

 

 

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

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)

Yes

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

No

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

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10456192

01/07/2015 *

195,000,000.00

THE SARSWAT CO-OPERATIVE BANK LIMITED

KHADKESHWAR BRANCH, KHADKESHWAR, AURANGABAD- 431001, MAHA
RASHTRA, INDIA

C60071347

2

10444772

14/08/2013

3,078,000.00

THE SARASWAT CO-OPERATIVE BANK LIMITED

RASEC KANCHAN CHAMBERS, KRANTI CHOWK,STATION ROAD
, AURANGABAD, MAHARASHTRA - 431005, INDIA

B82964156

3

10440940

23/07/2013

3,600,000.00

THE SARASWAT CO-OPERATIVE BANK LIMITED

KHADKESHWAR BRANCH, MADHULINI BUILDING, KHADAKESH
WAR, AURANGABAD- 431001, MAHARASHTRA , INDIA

B81071201

4

10440959

08/07/2013

3,065,000.00

THE SARASWAT CO-OPERATIVE BANK LIMITED

RASEC, KANCHAN CHAMBERS,, KRANTI CHOWK, STATION R
OAD, AURANGABAD-431005, MAHARASHTRA, INDIA

B81081531

5

10440958

01/07/2013

3,272,000.00

THE SARASWAT CO-OPERATIVE BANK LIMITED

RASEC, KANCHAN CHAMBERS,, KRANTI CHOWK, STATION R
OAD, AURANGABAD-431005, MAHARASHTRA, INDIA

B81080525

6

10385224

18/09/2012

8,000,000.00

THE SARASWAT CO-OPERATIVE BANK LIMITED

KHADKESHWAR BRANCH, MADHULINI BUILDING, KHADAKESH
WAR, AURNGABAD-400007, MAHARASHTRA, INDIA

B61644829

7

10290163

18/04/2011

15,000,000.00

SARSWAT CO-OP BANK LIMITED

KHADKESHWAR BRANCH, MADHULENI BULDING, KHADAKESWA
R, AURANGABAD- 431001, MAHARASHTRA, INDIA

B14270946

8

10257655

29/10/2010

15,000,000.00

THE SARASWAT CO-OPERATIVE BANK LIMITED.

KHADKESHWAR BRANCH, MADHULENI BUILDING,, KHADKESH
WAR,, AURANGABAD-431005, MAHARASHTRA, INDIA

A99769671

9

10232627

01/07/2010

45,000,000.00

THE SARASWAT CO-OPRATIVE BANK LIMITED

KHADKESHWAR BRANCH, MADHULENI BUILDING, KHADKESHW
AR, AURANGABAD-431005, MAHARASHTRA, INDIA

A90638719

10

10166515

23/06/2009

20,000,000.00

THE SARASWAT CO-OPERATIVE BANK LIMITED

MADHULENI, KHADKESHWAR,, AURANGABAD- 431001, MAHARASHTRA , INDIA

A65344947

 

* Date of charge modification

 

 

UNSECURED LOANS

 

PARTICULARS

31.03.2013

(Rs. In Million)

31.03.2012

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Loans and Advances from Related Parties

 

 

From Directors

 

 

L G Joshi

6.581

8.226

S V Shabde

7.097

6.547

S P Shubhedar

7.173

6.588

From Shareholders

0.000

0.000

L G Joshi-HUF

2.454

2.214

N S Subhedar

8.159

8.498

G S Shabde

5.248

4.736

S Subhedar

1.146

1.042

From Sister Concerns

0.000

0.000

SJS Polymers

7.979

8.044

Deferred Sister Concerns

0.000

0.000

Sales Tax Deffered Scheme

1.145

3.205

Sales Tax Deffered Scheme - Expansion

11.300

12.072

Total

58.282

61.172

 

 

OPERATING RESULTS:

 

During the year, the company had achieved a turnover of Rs. 662.700 Million against last year’s Rs. 565.100 Million. The company is positive about its future growth as there are sufficient orders in hand.

 

 

CHANGE OF ADDRESS:

The Registered Office of the company has been shifted from K22 MIDC Area, Waluj, Aurangabad-431136, Maharashtra, India to the present address w.e.f 07.04.2011


FIXED ASSETS:

 

Tangible Assets

 

·         Land

·         Buildings

·         Plant and Machinery

·         Furniture

·         Vehicles

·         Office Equipment

·         Computer

·         Leasehold Land

·         Generator

 

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.  63.81

UK Pound

1

Rs.  98.93

Euro

1

Rs.  69.66

 

 

INFORMATION DETAILS

 

Information Gathered by :

MAN

 

 

Analysis Done by :

KAS

 

 

Report Prepared by :

IND

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILIRY

1~10

--

--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

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

29

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                  Payment record (10%)

Credit history (10%)                   Market trend (10%)                                Operational size (10%)

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

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.