MIRA
INFORM REPORT
|
Report No. : |
338538 |
|
Report Date : |
27.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
MIRHA EXPORTS PRIVATE LIMITED |
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|
Registered
Office : |
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Tel. No.: |
91-11-23353271 |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
11.09.1997 |
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Com. Reg. No.: |
55-089573 |
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Capital
Investment / Paid-up Capital : |
Rs. 11.850 Million |
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|
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CIN No.: [Company Identification
No.] |
U63022DL1997PTC089573 |
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|
IEC No.: |
Not Available |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELM08606D |
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PAN No.: [Permanent Account No.] |
AAACM8612P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in processing and export of frozen, buffalo meat
products. |
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|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1300000 |
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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 was incorporated in September, 1997 and is engaged in
processing and export of frozen buffalo meat products. It is having a satisfactory track record. There seems unfavorable gap between Trade receivables and Trade
payables. However, general financial position of the company seems to be
decent. Trade relations are reported as fair. Business is active. Payment terms
are slow but correct. The company can be considered for 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 |
ICRA |
|
Rating |
Term Loan = BB (Withdrawn) |
|
Rating Explanation |
Have inadequate credit quality and carries high credit risk. |
|
Date |
January 2015 |
|
Rating Agency Name |
ICRA |
|
Rating |
Fund Based Limits = A3+ |
|
Rating Explanation |
Have moderate degree of safety and carry higher credit risk. |
|
Date |
January 2015 |
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 (91-11-23353271)
LOCATIONS
|
Registered Office : |
30-Bazar Lane, Bangali Market, Connaught Place, New Delhi – 110001, India |
|
Tel. No.: |
91-11-23353271 |
|
Fax No.: |
Not Available |
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E-Mail : |
DIRECTORS
As on 08.09.2014
|
Name : |
Mr. Shuab Ahmed Qureshi |
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|
Designation : |
Director |
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|
Address : |
R 684, New Rajinder Nager,
New Delhi – 110 006, India |
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Date of Birth : |
10.08.1968 |
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Qualification : |
Graduate |
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Date of Appointment : |
11.09.1997 |
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DIN No.: |
00428845 |
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PAN No.: |
AAKPA2919C |
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Other Directorship:
|
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|
Name : |
Mr. Arshia Ahmed Qureshi |
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Designation : |
Director |
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|
Address : |
R 684, New Rajinder Nagar,
New Delhi – 110060, India |
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Date of Birth/Age : |
15.01.1974 |
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Date of Appointment : |
08.09.2014 |
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DIN No.: |
02974492 |
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Other Directorship:
|
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 08.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Shuab Ahmed Qureshi |
2974490 |
80.72 |
|
Arshia Ahmed Qureshi |
707010 |
19.19 |
|
Kahkashan Qureshi |
3500 |
0.09 |
|
|
|
|
|
Total |
3685000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 08.09.2014
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in processing and export of frozen, buffalo meat
products. |
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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 |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
·
Bank
of Baroda, International Business Branch, Parliament Street, New Delhi – 110
001, India |
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Facilities : |
(Rs. In Million)
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Duggal Kundra and
Company Chartered Accountants |
|
Address : |
301, Neel Kanth
Plaza, Plot No.15, DDA Commercial Complex, Near Rani
Bagh, Pitampura, New
Delhi – 110 034, India |
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Tel. No.: |
91-11-27027974 |
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E-Mail : |
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PAN No.: |
AHHPK4426G |
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Memberships : |
-- |
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Collaborators : |
-- |
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Subsidiary Company : |
Al-Aali Exports Private Limited, India CIN No.: U51909DL2010PTC204184 |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1250000 |
Equity Shares |
Rs.10/- each |
Rs.12.500 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1185000 |
Equity Shares |
Rs.10/- each |
Rs.11.850
million |
|
|
|
|
|
As on 08.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,250,000 |
Equity Shares |
Rs.10/- each |
Rs. 42.500 Million |
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|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,685,000 |
Equity Shares |
Rs.10/- each |
Rs. 36.850
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
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I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
11.850 |
11.850 |
11.850 |
|
(b) Reserves & Surplus |
440.011 |
290.562 |
186.002 |
|
(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) |
451.861 |
302.412 |
197.852 |
|
|
|
|
|
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(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
39.387 |
139.628 |
212.265 |
|
(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 |
6.692 |
7.518 |
7.909 |
|
Total
Non-current Liabilities (3) |
46.079 |
147.146 |
220.174 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
681.675 |
540.062 |
485.089 |
|
(b) Trade payables |
1389.782 |
1056.513 |
674.972 |
|
(c) Other current liabilities |
186.133 |
258.475 |
202.878 |
|
(d) Short-term provisions |
72.885 |
51.783 |
24.517 |
|
Total
Current Liabilities (4) |
2330.475 |
1906.833 |
1387.456 |
|
|
|
|
|
|
TOTAL |
2828.415 |
2356.391 |
1805.482 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible
assets |
647.445 |
652.634 |
645.306 |
|
(ii) Intangible Assets |
0.250 |
0.416 |
0.066 |
|
(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 |
0.600 |
0.600 |
0.500 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
11.781 |
8.618 |
22.057 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
660.076 |
662.268 |
667.929 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
701.788 |
481.730 |
492.318 |
|
(c) Trade receivables |
1071.280 |
758.598 |
515.986 |
|
(d) Cash and cash equivalents |
95.407 |
329.270 |
88.005 |
|
(e) Short-term loans and
advances |
299.864 |
124.525 |
41.244 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
2168.339 |
1694.123 |
1137.553 |
|
|
|
|
|
|
TOTAL |
2828.415 |
2356.391 |
1805.482 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
10953.163 |
10877.020 |
5045.827 |
|
|
Other Income |
NA |
NA |
NA |
|
|
TOTAL
|
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL
|
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
223.206 |
157.239 |
79.393 |
|
|
|
|
|
|
|
Less |
TAX |
73.758 |
52.679 |
26.801 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
149.448 |
104.560 |
52.592 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
290.561 |
186.001 |
133.409 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
440.009 |
290.561 |
186.001 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
9971.616 |
10122.303 |
NA |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
126.12 |
88.24 |
44.38 |
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 flows from (used in) operations |
(62.828) |
479.674 |
7.091 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.36 |
0.96 |
1.04 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.89 |
6.67 |
4.40 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.49 |
0.52 |
0.40 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.60 |
2.25 |
3.52 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.93 |
0.89 |
0.82 |
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 |
11.850 |
11.850 |
11.850 |
|
Reserves & Surplus |
186.002 |
290.562 |
440.011 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
197.852 |
302.412 |
451.861 |
|
|
|
|
|
|
long-term borrowings |
212.265 |
139.628 |
39.387 |
|
Short term borrowings |
485.089 |
540.062 |
681.675 |
|
Total
borrowings |
697.354 |
679.690 |
721.062 |
|
Debt/Equity
ratio |
3.525 |
2.248 |
1.596 |
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) |
|
Sales |
5045.827 |
10877.020 |
10953.163 |
|
|
|
115.565 |
0.700 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
5045.827 |
10877.020 |
10953.163 |
|
Profit |
52.592 |
104.560 |
149.448 |
|
|
1.04% |
0.96% |
1.36% |
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 |
UNSECURED LOAN
(Rs. In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Intercorporate borrowings |
10.219 |
35.933 |
|
Loans and advances from related parties |
2.495 |
2.475 |
|
|
|
|
|
Total |
12.714 |
38.408 |
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10532928 |
10/11/2014 |
40,000,000.00 |
Bank of Baroda |
International Business Branch, 1st Floor, 16, Parliament Street, New Delhi, Delhi - 110001, INDIA |
C34662171 |
|
2 |
10534602 |
10/11/2014 |
50,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
C35798792 |
|
3 |
10534604 |
10/11/2014 |
200,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
C35799527 |
|
4 |
10501882 |
06/06/2014 |
40,000,000.00 |
Bank of Baroda |
International Business Branch, 1st Floor, 16, Parliament Street, New Delhi, Delhi - 110001, INDIA |
C06069298 |
|
5 |
10468372 |
14/12/2013 |
60,000,000.00 |
Bank of Baroda |
International Business Branch, 16, Sansad
Marg,, |
B92794569 |
|
6 |
10441903 |
31/07/2013 |
60,000,000.00 |
Bank of Baroda |
International Business Branch, Parliament Street, |
B81617904 |
|
7 |
10373235 |
09/08/2012 |
60,000,000.00 |
Bank of Baroda |
International Business Branch, 16, Sansad Marg, New Delhi, Delhi - 110001, INDIA |
B56673593 |
|
8 |
10242117 |
09/09/2010 |
600,000.00 |
Bank of Baroda |
International Business Branch, Parliament Street, |
A95648424 |
|
9 |
10127443 |
26/09/2008 |
1,419,000.00 |
Bank of Baroda |
International Business Branch, Parliament Street, |
A49512007 |
|
10 |
10127442 |
10/09/2008 |
1,337,000.00 |
Bank of Baroda |
International Business Branch, Parliament Street, |
A49510118 |
*Date of charge modification
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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 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] 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.66.16 |
|
|
1 |
Rs.103.88 |
|
Euro |
1 |
Rs.75.89 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
ART |
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 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
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.