MIRA INFORM REPORT

 

 

Report No. :

336820

Report Date :

13.08.2015

 

IDENTIFICATION DETAILS

 

Name :

ARTECH REALTORS PRIVATE LIMITED

 

 

Registered Office :

Artech House, T.C. 24/2014 (1), Near Taj Vivanta, Thycaud, Thiruvananthapuram – 695 014, Kerala

Tel. No.:

91-471-3018114

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

19.10.2005

 

 

Com. Reg. No.:

09-018729

 

 

Capital Investment / Paid-up Capital :

Rs.20.100 million

 

 

CIN No.:

[Company Identification No.]

U45201KL2005PTC018729

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

TVDA00651A

 

 

PAN No.:

[Permanent Account No.]

AAFCA6943G

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is engaged into providing project management services within the State of Kerala, develops residential and commercial real estate properties.

 

 

No. of Employees :

Information declined by the Management. 

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (45)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Maximum Credit Limit :

USD 439000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company incorporated during the year 2005. It has a satisfactory track record.

 

Management has seen a continuous increase in its sales turnover which has resulted profitability margin of 3.6% during the financial year 2014.

 

The company possesses healthy financial risk profile marked by its adequate networth position.

 

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

 

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

CRISIL

Rating

Long-Term Bank Loan Facilities: BB

Rating Explanation

Inadequate credit quality and high credit risk.

Date

17.09.2014

 

 

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 DECLINED

 

Management non-cooperative

 

(Tel. No.: 91-471-3018114/ 8 and Mobile No.: 91-9388189889-continuously ringing)

 

LOCATIONS

 

Registered Office :

Artech House, T.C. 24/2014 (1), Near Taj Vivanta, Thycaud, Thiruvananthapuram – 695 014, Kerala, India

Tel. No.:

91-471-3018114 to 3018118

Fax No.:

91-471-2327118/ 2327117

E-Mail :

sales@artechrealtors.com

artechgroup@eth.net

info@artechrealtors.com

accounts@artechrealtors.com

Website :

http://www.artechrealtors.com

Location :

Owned

Locality :

Commercial

 

Branch Office 1 :

#42, KV Nagar, Thopilkadavu, Kollam – 691 012, Kerala, India

Tel. No.:

91-474-3210101

 

Branch Office 2 :

#428G, Opposite Lakeshore Hospital, N.H-47, Nettor P.O, Ernakulam – 682 304, Kerala, India

Tel. No.:

91-484-3110111

 

Overseas Office :

Office No. M 06 - A Block, Mezzanine Floor, Wasl, Umm Hurair Building, No. R 421, Karama (Near GPO), PO Box : 440990, Dubai, UAE

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Asok Thankappan Nair Savithri Amma

Designation :

Managing Director

Address :

2192, Aparna, 4, Kuravankonam, Trivandrum – 695 003, Kerala, India

Date of Birth/Age :

30.05.1966

Date of Appointment :

19.10.2005

DIN No.:

00413274

 

ABFPN4921P

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

U70101KL2000PTC013695

TOUCHHOME BUILDERS AND REALTORS PRIVATE LIMITED

Director

21/02/2002

21/02/2002

-

Active

NO

2

U45201KL2005PTC018729

ARTECH REALTORS PRIVATE LIMITED

Managing director

19/10/2005

19/10/2005

-

Active

NO

3

U45200KL2008PTC021881

ARTECH VENTURES PRIVATE LIMITED

Managing director

18/02/2008

18/02/2008

-

Strike off

NO

 

Name :

Mrs. Lekha Thankamani Amma

Designation :

Director

Address :

2192, Aparna, 4, Kuravankonam, Trivandrum – 695 003, Kerala, India

Date of Birth/Age :

25.05.1969

Date of Appointment :

19.10.2005

DIN No.:

00413340

PAN No.:

ABKPL0568M

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

U70101KL2000PTC013695

TOUCHHOME BUILDERS AND REALTORS PRIVATE LIMITED

Director

21/02/2000

21/02/2000

-

Active

NO

2

U45201KL2005PTC018729

ARTECH REALTORS PRIVATE LIMITED

Director

19/10/2005

19/10/2005

-

Active

NO

3

U45200KL2008PTC021881

ARTECH VENTURES PRIVATE LIMITED

Director

18/02/2008

18/02/2008

-

Strike off

NO

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

 

No. of Shares

Percentage of Holding

Asok Thankappan Nair Savithri Amma

1005000

50.00

Lekha Thankamani Amma

1005000

50.00

Total

2010000

100.00

 

 

 

AS ON 30.09.2014

 

Equity Share Breakup

 

Percentage of Holding

Category

 

 

Directors or relatives of directors

 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged into providing project management services within the State of Kerala, develops residential and commercial real estate properties.

 

 

Products/ Services :

Item Code No. (ITC Code)

99531129

Product/ Service Description

Multi-dwelling residential buildings n.e.c.

 

Real Estate and Construction Activities

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Not Divulged

 

 

Purchasing :

Not Divulged

 

 

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 :

Payment Behaviour

Market Goodwill

Overall

Not Divulged

Not Divulged

Not Divulged

Remark:

Not Divulged

 

 

Customers :

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 :

Product Quality

Delivery Behaviour

Overall

Not Divulged

Not Divulged

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

Information declined by the Management. 

 

 

Bankers :

Banker Name

The Karur Vysya Bank Limited

Branch Address

S.S. Kovil Road, Thampanoor, Thiruvananthapuram – 695 001, Kerala, India

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 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

 

·         ICICI Bank Limited, 25/2491, Pulimoodu, M.G. Road, Thiruvananthapuram – 695 001, Kerala, India

·         State Bank of Travancore, Jagathy Branch, Thiruvananthapuram – 695 014, Kerala, India

·         HDFC Bank Limited

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Term Loans

 

 

From Banks

 

 

State Bank of Travancore – I

(Secured against 48.44 Cents of Land and Building "Artech Lake Palace" at Kollam West Village -Repayable within 10 months starting from June 2014)

0.000

0.000

State Bank of Travancore – II

(Secured against Land and Building "Artech Floranza" and Personally Guaranteed by Directors – Repayable in 6 quarterly installments starting from October 2014)

50.357

69.500

HDFC Bank – I

(Secured by hypothecation of Vehicle and Personally Guaranteed by Directors - Repayable in 36 equated monthly installments starting from July 2011)

0.000

0.711

HDFC Bank – II

(Secured by hypothecation of Vehicle and Personally Guaranteed by Directors - Repayable in 36 equated monthly installments starting from October 2013)

1.224

0.000

HDFC Bank – III

(Secured against 106.25 cents of Land and Building "Artech Empire "at Pattoor, Trivandrum and Personally Guaranteed by Directors - Repayable in 9 equated monthly installments starting from February 2015)

114.298

167.312

Karur Vysya Bank

(Secured against 48.529 cents of Land and Building "Artech Centrix" at Vazhuthacaud Village and Personally Guaranteed by Directors - Repayable in 23 equated monthly installments starting from April 2014)

0.261

0.500

State Bank of Hyderabad

(Secured against 114.90 cents of Land and Building "Artech Futura" at venpalavattom and Hypothecation of Receivables and Work in Progress as Primary Security-to be repaid by March 2015.)

0.000

40.320

Axis Bank – II

(Secured against personal assets of Directors and Personally Guaranteed by Directors - Repayable in 191 monthly installments starting from January 2011)

7.035

7.285

Axis Bank – III

(Secured against personal assets of Directors and Personally Guaranteed by Directors - Repayable in 191 monthly installments starting from January 2011)

19.595

20.247

SBT - Artech House

(Secured against Equitable Mortgage of 4.34 ares of land together with constructed building in R Sy no: 31 and 32 of Thycaud Village registered in the name of Managing Director starting from October 2013)

12.500

0.000

KVB

(Secured against 48.529 cents of Land and Building "Artech Centrix" at Vazhuthacaud Village and Personally Guaranteed by Directors - Repayable in 23 equated monthly installments after 13 months moratorium period.)

35.986

0.000

Indiabulls Housing Finance Limited

(Secured against 2nd and 3rd floor of Artech Anupama in R Sy: No: 1833/1, Patoor, and personal assets of Directors, repayable in 5 years starting from 30.09.2013)

19.562

0.000

KFC

(Secured by way of equitable mortgage of 115.60 cents of land in R Sy No:375/30-1, 375/30,375/27 in Kudapanakunnu Village and personal guarantee of Directors and Land owners repayable in 24 monthly inatalments after 24 months moratorium period)

43.095

0.000

Total

303.913

305.875

 

Banking Relations :

--

 

 

Financial Institutions :

  • PNB Housing Finance Limited, 1st Floor, Kek Tower, Opposite Trivandrum Development Authority, Vazhuthacaud, Trivandrum – 695 010, Kerala, India
  • Kerala Financial Corporation, Vellayambalam, Thiruvananthapuram – 695 033, Kerala, India

 

 

Auditors :

 

Name :

Suri and Company

Chartered Accountants

Address :

M.G. Road, Thiruvananthapuram – 695 001, Kerala, India

Tel. No.:

91-471-2333053

Fax No.:

91-471-2333285

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

AABFS5023Q

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

Not Available

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

4500000

Equity Shares

Rs.10/- each

Rs.45.000 million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

2010000

Equity Shares

Rs.10/- each

Rs.20.100 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

20.100

20.100

20.100

(b) Reserves & Surplus

133.460

94.043

62.862

(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)

153.560

114.143

82.962

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

312.352

319.062

109.937

(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)

312.352

319.062

109.937

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

0.000

(b) Trade payables

118.212

48.373

33.406

(c) Other current liabilities

757.176

634.231

533.146

(d) Short-term provisions

0.000

7.064

5.633

Total Current Liabilities (4)

875.388

689.668

572.185

 

 

 

 

TOTAL

1341.300

1122.873

765.084

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

103.062

40.608

39.806

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

0.000

37.594

19.528

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.068

0.068

0.025

(c) Deferred tax assets (net)

0.000

0.600

0.600

(d)  Long-term Loan and Advances

0.000

0.000

0.000

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

103.130

78.870

59.959

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

962.177

797.681

514.095

(c) Trade receivables

11.757

3.402

3.452

(d) Cash and cash equivalents

48.012

32.309

28.474

(e) Short-term loans and advances

216.224

210.611

159.104

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

1238.170

1044.003

705.125

 

 

 

 

TOTAL

1341.300

1122.873

765.084

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Revenue from operations (Net)

1069.891

907.572

681.662

 

 

Other Income

4.701

1.334

0.975

 

 

TOTAL                                    

1074.592

908.906

682.637

 

 

 

 

 

 

EXPENSES

 

 

 

 

 

Contract Expenses

944.979

1017.366

737.120

 

 

(Increase)/ Decrease in Inventories

 

(283.586)

(169.370)

 

 

Employees Remuneration and Benefits

 

35.379

20.932

 

 

Other Expenses

 

33.701

31.389

 

 

TOTAL                                    

944.979

802.860

620.071

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

129.613

106.046

62.566

 

 

 

 

 

 

FINANCIAL EXPENSES                                   

60.630

50.513

16.598

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

68.983

55.533

45.968

 

 

 

 

 

 

DEPRECIATION/ AMORTISATION                    

11.929

6.909

6.299

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX

57.054

48.624

39.669

 

 

 

 

 

 

TAX                                                                 

17.037

17.452

14.208

 

 

 

 

 

 

PROFIT/ (LOSS) AFTER TAX

39.416

31.181

25.461

 

 

 

 

 

 

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

4.043

2.862

2.401

 

 

 

 

 

 

APPROPRIATIONS

 

 

 

 

 

Transfer to General Reserve

0.000

30.000

25.000

 

BALANCE CARRIED TO THE B/S

43.459

4.043

2.862

 

 

 

 

 

 

Earnings/ (Loss) Per Share (Rs.)

19.61

15.51

12.67

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current maturities of long-term debt

208.629

109.342

60.289

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

53.328

(112.946)

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

3.68

3.44

3.74

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

12.11

11.68

9.18

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

4.25

4.48

5.33

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.37

0.43

0.48

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

3.39

3.75

2.05

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.41

1.51

1.23

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particulars

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

20.100

20.100

20.100

Reserves & Surplus

62.862

94.043

133.460

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

82.962

114.143

153.560

 

 

 

 

Long-term borrowings

109.937

319.062

312.352

Short term borrowings

0.000

0.000

0.000

Current maturities of long-term debts

60.289

109.342

208.629

Total borrowings

170.226

428.404

520.981

Debt/Equity ratio

2.052

3.753

3.393

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Revenue from operations (Net)

681.662

907.572

1069.891

 

 

33.141

17.885

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Revenue from operations (Net)

681.662

907.572

1069.891

Profit

25.461

31.181

39.416

 

3.74%

3.44%

3.68%

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity-Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

No

8

Designation of contact person

No

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

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)

No

16

No. of employees

No

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

Yes

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

NOTE:

 

The registered office of the company has been shifted from TC 15/1453 (6), A.I.R. Road, Vazhuthacaud, Trivandrum – 695 014, Kerala, India to the present address w.e.f. 01.06.2013.

 

 

UNSECURED LOAN

 

PARTICULARS

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

LONG-TERM BORROWINGS

 

 

Deposits

 

 

Rent Deposit Received

1.230

0.705

Unsecured loans from Directors

7.209

12.482

Total

8.439

13.187

 

 

INDEX OF CHARGES:

 

S. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10545515

30/10/2014

15,000,000.00

PNB HOUSING FINANCE LIMITED

1ST FLOOR, KEK TOWER, OPPOSITE TRIVANDRUM DEVELOPMENT AUTHORITY, VAZHUTHACAUD, TRIVANDRUM – 695 010, KERALA, INDIA

C41374646

2

10521191

11/08/2014

150,000,000.00

THE KARUR VYSYA BANK LIMITED

S.S. KOVIL ROAD, THAMPANOOR, THIRUVANANTHAPURAM – 695 001, KERALA, INDIA

C21725122

3

10515520

14/07/2014

7,615,000.00

ICICI BANK LIMITED

25/2491, PULIMOODU, M.G.ROAD, THIRUVANANTHAPURAM – 695 001, 
KERALA, INDIA

C16531550

4

10468935

05/11/2013

180,000,000.00

KERALA FINANCIAL CORPORATION

VELLAYAMBALAM, THIRUVANANTHAPURAM – 695 033, KERALA, INDIA

B93018182

5

10427418

02/05/2013

59,500,000.00

THE KARUR VYSYA BANK LIMITED

S.S. KOVIL ROAD, THAMPANOOR, THIRUVANANTHAPURAM – 695 001, KERALA, INDIA

B75708891

6

10420619

25/03/2013

500,000.00

THE KARUR VYSYA BANK LIMITED

S.S. KOVIL ROAD, THAMPANOOR, THIRUVANANTHAPURAM – 695 001, KERALA, INDIA

B73434383

7

10406333

28/12/2012

250,000,000.00

HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED

RAMON HOUSE, 169, BACKBAY RECLAMATION, H.T. PAREKH MARG, MUMBAI – 400 020, MAHARASHTRA, INDIA

B68940097

8

10395465

07/03/2014 *

132,500,000.00

STATE BANK OF TRAVANCORE

JAGATHY BRANCH, THIRUVANANTHAPURAM – 695 014, KERALA, INDIA

C00827105

 

* Date of charge modification

 

 

FIXED ASSETS:

 

·         Building

·         Plant and Machinery

·         Furniture and Fixture

·         Vehicles

·         Computers

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                           None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                        None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                        None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

FOREIGN EXCHANGE RATES

 

Currency

 
Unit

Indian Rupees

US Dollar

1

Rs.64.83

UK Pound

1

Rs.101.00

Euro

1

Rs.71.82                

 

 

INFORMATION DETAILS

 

Information Gathered by :

DIP

 

 

Analysis Done by :

TRI

 

 

Report Prepared by :

SMN

 

 

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

5

--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

 

45

 

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.