MIRA INFORM REPORT
|
Report No. : |
336120 |
|
Report Date : |
10.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
NARESH STEEL INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
206, 2nd Floor, Gupta Bhavan, Ahmedabad Street, Carnac
Bunder, Iron Market, Mumbai – 400009, Maharashtra |
|
Tel No.: |
91-22-23753799, 23759115 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
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|
|
|
Date of
Incorporation : |
19.04.2000 |
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|
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Com. Reg. No.: |
11-126003 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.35.469 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27100MH2000PTC126003 |
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|
|
|
IEC No.: |
Not Available |
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|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMN11222B |
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|
|
|
PAN No.: [Permanent Account No.] |
AABCN0291J |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
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Line of Business
: |
Dealer and Supplier of Iron and Steel. |
|
|
|
|
No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated on 19th April, 2000. It is an
established company having satisfactory track record. The general financial position of the company seems to be sound and
healthy. The fundamental of the company seems to be sound. Trade relations are reported to be fair. Business is active. Payment
are reported to be usually correct. The company can be considered
normal for business dealings at 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 PARTED BY
|
Name : |
Mr. Parimal Mehta |
|
Designation : |
Senior Manager |
|
Contact No.: |
91-9224660611 |
|
Date : |
08.08.2015 |
LOCATIONS
|
Registered Office : |
206, 2nd Floor, Gupta Bhavan, Ahmedabad Street, Carnac Bunder,
Iron Market, Mumbai – 400 009, Maharashtra, India |
|
Tel. No.: |
91-22-23753799 / 23759115 |
|
Fax No.: |
91-22-23773013 / 67977772 |
|
E-Mail : |
|
|
Website : |
http://www.nareshsteel.com |
|
Location : |
Owned |
|
Locality: |
Commercial |
|
|
|
|
Corporate Office : |
No. 403/404, Krushal Commercial Complex, Above Shoppers Stop, G. M.
Road, Chembur (West), Mumbai – 400089, Maharashtra, India |
|
Tel. No.: |
91-22-67973344 / 67975120 / 21 / 22 |
|
Fax No.: |
91-22-67977772. |
|
Email : |
|
|
Area : |
1000 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Service Station : |
Poonya Steel Processors Private Limited A7/2, MIDC, Opposite Transpower, Taloja Industrial Area, Taloja,
District – Raigad, Maharashtra, India |
|
Tel. No.: |
91-22-27402407 |
|
Fax No.: |
91-22-27410884 |
|
Email : |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Vipul Kantilal Shah |
|
Designation : |
Director |
|
Address : |
Rajvi, A-11/42, Rajawadi Co-Operative Housing Society, Rajawadi,
Ghatkopar (East), Mumbai – 400 077, |
|
Date of Birth/Age : |
27.08.1959 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
19.04.2000 |
|
PAN No.: |
AAFPS2479C |
|
DIN No.: |
00967958 |
|
|
|
|
Name : |
Mr. Naresh Kantilal Shah |
|
Designation : |
Director |
|
Address : |
3-4, Natraj Co-Operative Housing Society, |
|
Date of Birth/Age : |
05.10.1947 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
19.04.2000 |
|
PAN No.: |
AAAHN3149P |
|
DIN No.: |
00968007 |
|
|
|
|
Name : |
Mr. Prakash Kantilal Shah |
|
Designation : |
Whole Time Director |
|
Address : |
Flat No. 7, 2nd Floor, Kailash Prakash, R. N. N. Marg,
Ghatkopar (East), Mumbai – 400 077, |
|
Date of Birth/Age : |
21.11.1954 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
19.04.2000 |
|
PAN No.: |
AAFPS2481J |
|
DIN No.: |
01511347 |
|
|
|
|
Name : |
Mr. Chandrakant Kantilal Shah |
|
Designation : |
Whole Time Director |
|
Address : |
B-12/196, Rajawadi Chitranjan Nagar Colony, Rajawadi, Ghatkopar
(East), Mumbai – 400 077, |
|
Date of Birth/Age : |
19.11.1945 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
19.04.2000 |
|
PAN No.: |
AAKPS2768P |
|
DIN No.: |
01573286 |
KEY EXECUTIVES
|
Name : |
Mr. Sandeep Barkude |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
|
Prakash Kantilal Shah |
40833 |
|
Pratima Prakash Shah |
780000 |
|
Vipul Kantilal Shah |
40833 |
|
Rupa Vipul Shah |
780000 |
|
Naresh Kantilal Shah |
780000 |
|
Ranjan Naresh Shah |
15833 |
|
Saurabh Naresh Shah |
16667 |
|
Jeny Saurabh Shah |
16667 |
|
Chandrakant Kantilal Shah |
390000 |
|
Charulata Chandrakant Shah |
390000 |
|
Ameet Chandrakant Shah |
12500 |
|
Rupal Ameet Shah |
15835 |
|
Nihir Chandrakant Shah |
15833 |
|
Mahesh Govardhandas Garodia |
100000 |
|
Girish Bhanabhai Mistry |
66666 |
|
Leena Investment Consultancy LLP, India |
293750 |
|
Honey Nihir Shah |
4999 |
|
Prakash Shah (HUF) |
8333 |
|
Vipul Shah (HUF) |
8333 |
|
|
|
|
Total |
3777082 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
7.78 |
|
Directors or relatives of Directors |
87.80 |
|
Other |
4.42 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Dealer and Supplier of Iron and Steel. |
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Products : |
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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 : |
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Selling: |
Cash and Cheque |
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Purchasing: |
Cash and Cheque |
PRODUCTION STATUS –
NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
50 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
H. J. Mehta and Associates Chartered Accountants |
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Address : |
Shop
No. 4, Panchsheel Bldg., Nathpai Nagar, Ghatkopar (East), Mumbai – 400077,
Maharashtra, India |
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Tel. No.: |
91-22-25068664 / 65 |
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Mobile No.: |
91-9821261193 |
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E-Mail : |
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PAN
No. : |
AAJPM7470M |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates: |
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CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
Rs.10/- each |
Rs.40.000 Million |
|
|
|
|
|
Issued,
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3777082 |
Equity Shares |
Rs.10/- each |
Rs.37.770 Million |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3316666 |
Equity Shares |
Rs.10/- each |
Rs.33.167 Million |
|
|
|
|
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|
460416 |
Equity Shares |
Rs.5/- each |
Rs.2.302Million |
|
|
Total
|
|
Rs. 35.469
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 |
35.469 |
5.469 |
4.000 |
|
(b) Reserves & Surplus |
428.513 |
427.163 |
281.608 |
|
(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) |
463.982 |
432.632 |
285.608 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
334.689 |
207.304 |
301.854 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(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) |
334.689 |
207.304 |
301.854 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
692.555 |
849.984 |
539.569 |
|
(b) Trade
payables |
270.300 |
202.933 |
51.122 |
|
(c) Other current
liabilities |
29.693 |
83.449 |
22.647 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.500 |
|
Total Current
Liabilities (4) |
992.548 |
1136.366 |
613.838 |
|
|
|
|
|
|
TOTAL |
1791.219 |
1776.302 |
1201.300 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
4.855 |
4.463 |
4.803 |
|
(ii)
Intangible Assets |
0.254 |
0.339 |
0.452 |
|
(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 |
30.916 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
3.885 |
2.659 |
2.154 |
|
(d) Long-term Loan and Advances |
0.990 |
0.893 |
0.370 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
40.900 |
8.354 |
7.779 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
298.679 |
380.022 |
205.394 |
|
(c) Trade
receivables |
1430.304 |
1339.668 |
919.121 |
|
(d) Cash
and cash equivalents |
9.081 |
13.776 |
23.286 |
|
(e)
Short-term loans and advances |
12.255 |
34.429 |
45.720 |
|
(f) Other
current assets |
0.000 |
0.053 |
0.000 |
|
Total
Current Assets |
1750.319 |
1767.948 |
1193.521 |
|
|
|
|
|
|
TOTAL |
1791.219 |
1776.302 |
1201.300 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
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|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
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|
|
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|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
49.110 |
46.064 |
45.376 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.413 |
1.477 |
1.487 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
47.697 |
44.587 |
43.889 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
16.347 |
15.063 |
15.056 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
31.350 |
29.524 |
28.833 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
8.30 |
7.82 |
7.63 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
N.A |
|
Cash generated from operations |
N.A |
N.A |
N.A |
|
Net cash flow from operating activity |
183.495 |
(230.018) |
N.A |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.72 |
2.51 |
3.66 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10 |
0.10 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.21 |
2.44 |
2.95 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.76 |
1.56 |
1.94 |
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 |
4.000 |
5.469 |
35.469 |
|
Reserves & Surplus |
281.608 |
427.163 |
428.513 |
|
Net worth |
285.608 |
432.632 |
463.982 |
|
|
|
|
|
|
long-term borrowings |
301.854 |
207.304 |
334.689 |
|
Short term borrowings |
539.569 |
849.984 |
692.555 |
|
Total borrowings |
841.423 |
1057.288 |
1027.244 |
|
Debt/Equity ratio |
2.946 |
2.444 |
2.214 |
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 |
Yes |
|
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 |
Ys |
|
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 |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
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 |
No |
|
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 |
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG TERM
BORROWINGS |
|
|
|
Other loans and advances |
334.689 |
207.304 |
|
|
|
|
|
Total |
334.689 |
207.304 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10435891 |
17/02/2014 * |
150,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF
INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI, Maharashtra - |
B98542210 |
|
2 |
10376725 |
27/07/2013 * |
300,000,000.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
One Forbes, Dr. V. B. Gandhi Marg, Fort,
Mumbai, Maharashtra - 400001, INDIA |
B84824499 |
|
3 |
10280715 |
15/02/2011 |
150,000,000.00 |
CITIBANK N. A. |
TRENT HOUSE, 2ND FLOOR, G BLOCK, PLOT
NO.C60, BANDRA KURLA COMPLEX, BANDRA (E), MUMBAI, Maharashtra |
B07046063 |
|
4 |
10095091 |
08/06/2013 * |
250,000,000.00 |
Standard Chartered Bank |
Crescenzo, 3A/F, Plot no. C-38 & C-39,
G Block, B |
B81130106 |
|
5 |
80007520 |
10/05/2008 * |
250,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI,
BARODA, Gujarat - 390015, INDIA |
A93704674 |
* Date of charge modification
NATURE OF
OPERATIONS
The Company was incorporated on 19th April, 2000. The Company (deals in steel products and acts as a dealer of Tata Steel Limited for entire Western Region and setting up a service station for steel products).
FIXED ASSETS
- Plant and Equipment
- Furniture and Fixtures
- Vehicles
- Office Equipment
- Computer Equipment’s
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.63.80 |
|
|
1 |
Rs.98.92 |
|
Euro |
1 |
Rs.69.65 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
KSH |
|
|
|
|
Report Prepared
by : |
RKI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
-- PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
46 |
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.