MIRA INFORM REPORT
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Report No. : |
337961 |
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Report Date : |
24.08.2015 |
IDENTIFICATION DETAILS
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Name : |
KARP IMPEX LIMITED (TRF.) |
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Registered
Office : |
GE – 3051, ‘G’ Block, Bharat Diamond Bourse, Bandra Kurla Complex,
Bandra East, Mumbai – 400051, Maharashtra |
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Tel. No.: |
91-22-40608888 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
24.04.1995 |
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Com. Reg. No.: |
11-158868 |
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Capital
Investment / Paid-up Capital : |
Rs. 56.484 Million |
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CIN No.: [Company Identification
No.] |
U27205MH1995PLC158868 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMK11083C |
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PAN No.: [Permanent Account No.] |
AABCK1823F |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of manufacturing, processing,
trading, import and export of cut and polished diamonds. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (46) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 14000000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. Profitability of the company appears to be low during 2014. However, General
financial position of the company seems to be decent. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. The company can be considered 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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
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Rating |
Long Term Bank Facilities = BBB- |
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Rating Explanation |
Have moderate degree of safety and carry moderate credit risk. |
|
Date |
September 4, 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 DENIED
Management non co-operative (Tel. No.: 91-22-40608888)
LOCATIONS
|
Registered Office : |
GE – 3051, ‘G’ Block, Bharat Diamond Bourse, Bandra Kurla Complex, Bandra
East, Mumbai – 400051, Maharashtra, India |
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Tel. No.: |
91-22-40608888 |
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Fax No.: |
91-22-40608899 |
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E-Mail : |
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Website : |
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Corporate Office : |
1141, Prasad Chambers, Opera House, Mumbai – 400 004, Maharashtra,
India |
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Factory : |
Karp House, 8/A, Lal Darwaja, |
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Location : |
Owned |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Anilkumar Bhikhabhai Virani |
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Designation : |
Managing Director |
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Address : |
Jal Mayur Chs Limited, 51, Laxmi Vilas, 87, Nepensea Road, Mumbai –
400006, Maharashtra, India |
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Date of Birth/Age : |
02.10.1958 |
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Qualification : |
B.Com |
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Date of Appointment : |
24.04.1995 |
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DIN No.: |
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PAN No.: |
AAWPV1515F |
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Other
Directorship :
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Name : |
Mr. Nirav Anilkumar Virani |
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Designation : |
Director |
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Address : |
Jal Mayur Co-Operative Housing Society Limited, 51, Laxmi Vilas, 87,
Nepensea Road, Mumbai – 400 006, Maharashtra, India |
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Date of Birth/Age : |
10.07.1984 |
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Qualification : |
BBA |
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Date of Appointment : |
05.12.2005 |
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DIN No.: |
00151196 |
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PAN No.: |
ABXPV2409C |
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Other
Directorship :
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Name : |
Mr. Kishorkumar Bhikhabhai Virani |
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Designation : |
Director |
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Address : |
Jal Mayur Co-Operative Housing Society Limited, 51, Laxmi Vilas, 87,
Nepensea Road, Mumbai – 400 006, Maharashtra, India |
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Date of Birth/Age : |
28.09.1956 |
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Qualification : |
B.E. Mechanical |
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Date of Appointment : |
24.04.1995 |
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DIN No.: |
00279641 |
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PAN No.: |
AAWPV1516G |
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Other
Directorship :
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Name : |
Mr. Keval Kishor Virani |
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Designation : |
Whole Time Director |
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Address : |
Jal Mayur Co-Operative Housing Society Limited, 51, Laxmi Vilas, 87,
Nepensea Road, Mumbai – 400 006, Maharashtra, India |
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Date of Birth/Age : |
30.09.1983 |
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Qualification : |
M. Tech. |
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Date of Appointment : |
05.12.2005 |
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DIN No.: |
01734130 |
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PAN No.: |
ABWPV8900H |
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Other
Directorship :
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MAJOR SHAREHOLDERS
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Anilkumar Bhikhabhai Virani |
2450000 |
43.38 |
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Kishorkumar Bhikhabhai Virani |
2450000 |
43.38 |
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Neela Kishor Virani |
49000 |
0.87 |
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Ashwin Govindbhai Kukadia |
1000 |
0.02 |
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Kailash Anil Virani |
49000 |
0.87 |
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Pinal Kishor Virani |
500 |
0.01 |
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Ashmi Rahul Mody |
500 |
0.01 |
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Nirav Anil Virani |
324200 |
5.74 |
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Keval Kishore Virani |
324200 |
5.74 |
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Total |
5648400 |
100.00 |
%20-%20337961%2024-Aug-2015_files/image013.gif)
AS ON 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in the business of manufacturing, processing,
trading, import and export of cut and polished diamonds. |
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Products : |
Not Divulged |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
GENERAL INFORMATION
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Suppliers : |
Not Divulged
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Customers : |
Not Divulged
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
(Rs.
In Million)
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Financial Institution : |
Axis Trustee Services Limited, Axis House, 2nd Floor,
Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai – 400025,
Maharashtra, India |
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Auditors : |
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Name : |
Suresh Surana and Associates LLP Chartered Accountants |
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Address : |
Evershine Millenium Paradise Emp 6 Flat No.402/3 A Wing Jupitor 4th
Floor Thakur Village, Kandivali East, Mumbai – 400101, Maharashtra, India |
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PAN No.: |
ACLFS1562L |
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Memberships : |
-- |
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Collaborators : |
-- |
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Related Party : |
(CIN No.: U51398MH1989PTC052848)
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CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100,000,00 |
Equity Shares |
Rs. 10/- each |
Rs. 100.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
56,484,00 |
Equity Shares |
Rs. 10/-
each |
Rs. 56.484
Millions |
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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 |
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(1)Shareholders' Funds |
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(a) Share Capital |
56.484 |
54.004 |
52.220 |
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(b) Reserves & Surplus |
4881.055 |
4494.384 |
4183.970 |
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(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
4937.539 |
4548.388 |
4236.190 |
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(3)
Non-Current Liabilities |
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(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
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(b) Deferred tax liabilities (Net) |
125.862 |
113.431 |
97.837 |
|
(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) |
125.862 |
113.431 |
97.837 |
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(4)
Current Liabilities |
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|
|
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(a) Short
term borrowings |
8873.834 |
8435.179 |
7649.771 |
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(b) Trade
payables |
1254.976 |
1718.692 |
554.423 |
|
(c) Other
current liabilities |
19.348 |
10.877 |
79.758 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
10148.158 |
10164.748 |
8283.952 |
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TOTAL |
15211.559 |
14826.567 |
12617.979 |
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II.
ASSETS |
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(1)
Non-current assets |
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(a) Fixed
Assets |
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|
|
|
(i)
Tangible assets |
1087.028 |
1092.031 |
820.984 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
71.588 |
10.443 |
2.401 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
102.465 |
269.872 |
330.247 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
164.764 |
182.906 |
162.464 |
|
(e) Other
Non-current assets |
5.570 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1431.415 |
1555.252 |
1316.096 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
6741.264 |
5676.840 |
5002.713 |
|
(c) Trade
receivables |
6394.410 |
7237.280 |
5785.394 |
|
(d) Cash
and cash equivalents |
452.598 |
130.381 |
405.225 |
|
(e)
Short-term loans and advances |
191.688 |
226.749 |
105.683 |
|
(f) Other
current assets |
0.184 |
0.065 |
2.868 |
|
Total
Current Assets |
13780.144 |
13271.315 |
11301.883 |
|
|
|
|
|
|
TOTAL |
15211.559 |
14826.567 |
12617.979 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
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SALES |
|
|
|
|
|
|
|
Income |
19710.714 |
17075.390 |
18453.364 |
|
|
|
Other Income |
0.590 |
145.651 |
15.724 |
|
|
|
TOTAL (A) |
19711.304 |
17221.041 |
18469.088 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
12682.121 |
9665.876 |
14413.348 |
|
|
|
Purchases of Stock-in-Trade |
5996.310 |
5750.363 |
2249.834 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(860.035) |
0.138 |
22.220 |
|
|
|
Employees benefits expense |
172.285 |
153.549 |
125.400 |
|
|
|
Other expenses |
893.990 |
894.397 |
720.924 |
|
|
|
TOTAL (B) |
18884.671 |
16464.323 |
17531.726 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
826.633 |
756.718 |
937.362 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
490.727 |
446.955 |
683.529 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
335.906 |
309.763 |
253.833 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
63.365 |
59.564 |
49.574 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
272.541 |
250.199 |
204.259 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
101.631 |
87.858 |
78.065 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
170.910 |
162.341 |
126.194 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
30.26 |
28.74 |
22.34 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from (used in) operation |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.86
|
0.95 |
0.68 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
4.19
|
4.43 |
5.08 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.81 |
1.72 |
1.66 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
0.06 |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.80 |
1.85 |
1.81 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.36 |
1.31 |
1.36 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
52.220 |
54.004 |
56.484 |
|
Reserves & Surplus |
4183.970 |
4494.384 |
4881.055 |
|
Net
worth |
4236.190 |
4548.388 |
4937.539 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
7649.771 |
8435.179 |
8873.834 |
|
Total
borrowings |
7649.771 |
8435.179 |
8873.834 |
|
Debt/Equity
ratio |
1.806 |
1.855 |
1.797 |
%20-%20337961%2024-Aug-2015_files/image015.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
18453.364 |
17075.390 |
19710.714 |
|
|
|
(7.467) |
15.433 |
%20-%20337961%2024-Aug-2015_files/image017.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
18453.364 |
17075.390 |
19710.714 |
|
Profit |
126.194 |
162.341 |
170.910 |
|
|
0.68% |
0.95% |
0.87% |
%20-%20337961%2024-Aug-2015_files/image019.gif)
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 |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
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: Registered office of the company has been shifted from 1411, Prasad Chambers, Opera House, Mumbai – 400 004, Maharashtra to the present address w.e.f. 06.10.2011.
DIAMOND INDUSTRY – INDIA
-
From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of
diamonds but history says that in the remote past, diamonds were mined only in
India. Diamond production in India can be traced back to almost 8th
Century B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
-
The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
-
Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
-
Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
-
Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
-
Excerpts from Times of India dated 30th
October 2010 is as under –
-
Gem & Jewellery Export Promotion Council in its
statistical data has shown the export of polished diamonds to have increase by
28 % in February 2013. Compared to $ 1.4 bn worth of polished diamond export in
February, 2012, India exported $ 1.84 billion worth of polished diamonds in
February 2013. A senior executive of GJEPC said, “Export of cut and polished
diamonds started falling month-wise after the imposition of 2 % of import duty
on the polished diamonds. But February, 2013 has given a new ray of hope to the
industry as the export of polished diamonds has actually increased by 28 %. It
means the industry is on the track of recovery and round tripping of
diamonds has stopped completely.” Demand has started coming from the US, the
UK, Japan and China. India’s polished diamond export is expected to cross $ 21
bn in 2013-14.
-
The banking sector has started exercising restraint
while following prudent risk management norms when lending money to gems and
jewellery sector. This follows the implementation of Basel III accord – a
global voluntary regulatory standard on bank capital adequacy, stress testing
and market liquidity.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10495544 |
15/03/2014 |
150,000,000.00 |
IDBI Bank Limited |
Ess EN House, Ghod Dod Road,, Surat, Surat, Gujarat - 395001, INDIA |
C03606316 |
|
2 |
10500626 |
27/12/2013 |
150,000,000.00 |
SOCIETE GENERALE |
Maker Chamber IV, 13th Floor,, Nariman Point,, MUMBAI, Maharashtra - 400021, INDIA |
C05410865 |
|
3 |
10235674 |
13/12/2013 * |
9,500,000,000.00 |
Axis Trustee Services Limited |
Axis House, 2nd
Flr, Bombay Dyeing Mills Compound, INDIA |
B92257864 |
|
4 |
10134997 |
14/11/2008 |
72,500,000.00 |
STATE BANK OF INDORE |
COMMERCIAL BRANCH,
MITTAL COURT, B WING, GROUND FLOOR, NARIMAN POINT, MUMBAI, Maharashtra -
400021, |
A52109303 |
|
5 |
90111835 |
23/03/2005 |
95,000,000.00 |
STATE BANK OF SAURSHTRA |
1ST FLOOR; DIAMOND
QUEEN; 198, RAJARAM MOHAN ROY Maharashtra - 400004, INDIA |
- |
|
6 |
90111611 |
21/01/2002 |
50,000,000.00 |
STATE BANK OF INDORE |
INDUSTRIAL FINANCE BRANCH, 10; NANATHAL LANE; FORT, MUMBAI, Maharashtra - 400023, INDIA |
- |
|
7 |
90111590 |
11/10/2001 |
100,000,000.00 |
STATE BANK OF INDORE |
INDUSTRIAL FINANCE BRANCH, 10; NANATHAL LANE; FORT, MUMBAI, Maharashtra - 400023, INDIA |
- |
|
8 |
90109982 |
15/03/2008 * |
6,250,000,000.00 |
STATE BANK OF SAURASHTRA |
1ST FLOOR, DIAMOND QUEEN, 198,, RAJA RAM MOHAN ROY MARG, GIRGAM, MUMBAI, Maharashtra - 400004, INDIA |
A41126046 |
|
9 |
90109885 |
20/10/1998 |
285,000,000.00 |
BHARAT OVERSEAS BANK LTD |
FORT; MUMBAI
BRANCH, MUMBAI, Maharashtra - 400001, |
- |
|
10 |
90109601 |
06/06/2005 * |
202,500,000.00 |
STATE BANK OF SAURSHTRA |
OVERSEAS BRANCH; NARIMAN BHAWAN, NARMIAN POINT, MUMBAI, Maharashtra - 400021, INDIA |
- |
* Date of charge modification
FIXED ASSETS
- Land
- Buildings
- Plant and
Equipment
- Furniture and
Fixture
- Vehicles
- Office
equipment
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. 65.83 |
|
UK Pound |
1 |
Rs. 103.39 |
|
Euro |
1 |
Rs. 74.27 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
4 |
|
--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 |
NO |
|
--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.