MIRA INFORM REPORT
|
Report No. : |
353584 |
|
Report Date : |
07.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
AMARTARA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Saki Vihar Road, Powai, Mumbai - 400072, Maharashtra |
|
Tel. No.: |
91-22-28580000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
29.06.1964 |
|
|
|
|
Com. Reg. No.: |
11-012950 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.10.000
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U20290MH1964PTC012950 |
|
|
|
|
IEC Code : |
0388120410 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA22400A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCA9217F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer Exporter and Importer of Rigid PVC / PVDC Films used in
pharmaceutical packaging industries. (Confirmed by management) |
|
|
|
|
No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 910000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject was established in the year 1964 and it is engaged in
manufacturing packaging materials to pharmaceutical industry. Its products include
polyvinylidene chloride coated rigid polyvinyl chloride films, multi layered
film, metalized rigid polyvinyl chloride film, cold form blister, multi
layered cold form blister film and barrier blister packs using polyvinyl
chloride films. Management has witnessed a growth in its top-line and has reported a
minimal net profit during FY14, as against a previous year loss. Rating reflect the extensive experience of company’s promoter in the
packaging industry, and the company’s above-average financial risk profile,
marked by its moderate net worth and low gearing. Rating strengths is partially offset by company’s stretched liquidity
due to large investments in group companies, and its
working-capital-intensive operations. Trade relations are reported as fair. Payment terms are reported to be
slow but correct. In view of aforesaid, the company can be considered for business
dealings with slight cautions. |
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 Rating = BB- |
|
Rating Explanation |
Inadequate credit quality and high credit risk |
|
Date |
April 29 2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A4+ |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
April 29 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
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Shankar Navkar |
|
Designation : |
Account Department |
|
Contact No.: |
91-22-28580000 |
|
Date : |
03.12.2015 |
LOCATIONS
|
Registered Office / Corporate Office / Factory 1 : |
Saki Vihar Road, Powai, Mumbai - 400072, Maharashtra, India |
|
Tel. No.: |
91-22-28577700/ 28570884 |
|
Fax No.: |
91-22-28570470 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
215/3, Halol – Godhra Road, Village: Madhvas – 389 330, Taluka.: Kalol, District Panchmahal, Gujarat, India |
|
Tel. No.: |
91-2676-661005 / 661008 |
|
|
|
|
Sales Offices : |
Located At
|
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Arun Anand Sarup |
|
Designation : |
Director |
|
Address : |
Aashiana, Powai Park
Drive, Saki Vihar Road, Powai, Mumbai- 400072, Maharashtra, India |
|
Date of Birth/Age : |
27.01.1945 |
|
Date of Appointment : |
20.06.1984 |
|
DIN No.: |
00498300 |
|
|
|
|
Name : |
Mr. Arjun Arun Sarup |
|
Designation : |
Director |
|
Address : |
Aashiana, Powai
Park Drive, Saki Vihar Road, Powai, Mumbai- 400072, Maharashtra, India |
|
Date of Birth/Age : |
16.10.1975 |
|
Date of Appointment : |
01.01.2006 |
|
DIN No.: |
00498328 |
|
|
|
|
Name : |
Ms. Geeta Arun Sarup |
|
Designation : |
Director |
|
Address : |
91-E, Bharat Bhavan, Walkeswar Road, Mumbai- 400006, Maharashtra,
India |
|
Date of Birth/Age : |
20.03.1947 |
|
Date of Appointment : |
10.08.2000 |
|
DIN No.: |
00498359 |
|
|
|
|
Name : |
Ms. Tara Anand Sarup |
|
Designation : |
Director |
|
Address : |
Powai House
Bangalow, Saki Vihar Road, Powai, Mumbai- 400072, Maharashtra, India |
|
Date of Appointment : |
12.11.1984 |
|
DIN No.: |
00501615 |
|
|
|
|
Name : |
Mr. Farzana Arjun Sarup |
|
Designation : |
Additional Director |
|
Address : |
Aashiana, Powai Park Drive, Saki Vihar Road, Powai, Mumbai- 400072,
Maharashtra, India |
|
Date of Birth/Age : |
12.05.1977 |
|
Date of Appointment : |
30.09.2013 |
|
DIN No.: |
06525500 |
KEY EXECUTIVES
|
Name : |
Mr. Shankar Navkar |
|
Designation : |
Account Department |
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Arun Sarup |
|
43990 |
|
Arjun Sarup |
|
9005 |
|
Geeta Sarup |
|
4004 |
|
Tara Sarup |
|
3000 |
|
Argenta Hotels Private Limited |
|
5 |
|
Argenta Developers Private Limited |
|
5 |
|
Ajay Industrial Packaging Private Limited |
|
39980 |
|
Farzana Sarup |
|
10 |
|
Total |
|
99999 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
39.99 |
|
Directors or relatives of Directors |
60.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer Exporter and Importer of Rigid PVC / PVDC Films used in
pharmaceutical packaging industries. (Confirmed by management) |
|
|
|
|
Products : |
Rigid PVC / PVDC Films |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
|
|
|
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|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
Korea |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
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|
|
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers and Retailers
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No. of Employees : |
200 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
Pramod H. Shah and Company Chartered Accountants |
|
Address : |
113, Doctors House, Bora Bazar, Fort, Mumbai - 400001, Maharashtra,
India |
|
Tel. No.: |
91-22-22695403 |
|
E-Mail : |
|
|
PAN No.: |
ABCPS5658F |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.100/- each |
Rs.100.000 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
99999 |
Equity Shares |
Rs.100/-
each |
Rs.10.000
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 |
10.000 |
10.000 |
10.000 |
|
(b) Reserves &
Surplus |
309.358 |
295.018 |
320.586 |
|
(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) |
319.358 |
305.018 |
330.586 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
54.569 |
60.664 |
54.936 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
2.407 |
2.752 |
6.011 |
|
(d) long-term provisions |
3.278 |
2.650 |
2.092 |
|
Total Non-current
Liabilities (3) |
60.254 |
66.066 |
63.039 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
140.262 |
103.187 |
64.737 |
|
(b) Trade payables |
115.559 |
87.892 |
63.886 |
|
(c) Other current
liabilities |
43.561 |
33.021 |
25.461 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities
(4) |
299.382 |
224.100 |
154.084 |
|
|
|
|
|
|
TOTAL |
678.994 |
595.184 |
547.709 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
156.562 |
169.958 |
103.237 |
|
(ii) Intangible Assets |
8.645 |
8.645 |
1.500 |
|
(iii) Capital
work-in-progress |
3.853 |
15.204 |
52.741 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
204.222 |
153.940 |
154.710 |
|
(c) Deferred tax assets
(net) |
21.428 |
28.040 |
16.080 |
|
(d) Long-term Loan and Advances |
7.355 |
7.007 |
4.832 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
402.065 |
382.794 |
333.100 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
53.025 |
40.629 |
33.974 |
|
(c) Trade receivables |
174.009 |
106.358 |
98.721 |
|
(d) Cash and cash
equivalents |
31.648 |
42.476 |
72.763 |
|
(e) Short-term loans and
advances |
17.373 |
20.213 |
8.504 |
|
(f) Other current assets |
0.874 |
2.714 |
0.647 |
|
Total Current Assets |
276.929 |
212.390 |
214.609 |
|
|
|
|
|
|
TOTAL |
678.994 |
595.184 |
547.709 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
TOTAL |
563.161 |
384.417 |
NA |
|
|
|
|
|
|
|
|
TOTAL EXPENSES |
619.857 |
444.419 |
NA |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, EXCEPTIONAL ITEMS |
(40.693) |
(42.321) |
NA |
|
|
|
|
|
|
|
|
Exceptional Items |
(61.645) |
0.000 |
NA |
|
|
|
|
|
|
|
|
PROFIT (LOSS)
BEFORE TAX |
20.952 |
(42.321) |
NA |
|
|
|
|
|
|
|
|
TAX |
6.612 |
(16.753) |
NA |
|
|
|
|
|
|
|
|
PROFIT (LOSS)
AFTER TAX |
14.340 |
(25.568) |
29.068 |
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
109.480 |
135.048 |
105.980 |
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
123.820 |
109.480 |
135.048 |
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
160.934 |
122.324 |
101.952 |
|
|
TOTAL EARNINGS |
160.934 |
122.324 |
101.952 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
37.115 |
263.541 |
205.895 |
|
|
TOTAL IMPORTS |
37.115 |
263.541 |
205.895 |
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
143.40 |
(225.68) |
590.69 |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
800.000 |
Expected Sales (2015-16): Rs. 1000.000 Million
The above information has been parted by Mr. Shankar Navkar
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
10.008 |
10.008 |
1.667 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from operating activities |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Total Income) |
(%) |
2.55 |
(6.65) |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.66 |
(10.63) |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07 |
(0.14) |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.64 |
0.57 |
0.37 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.93 |
0.95 |
1.39 |
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 |
10.000 |
10.000 |
10.000 |
|
Reserves & Surplus |
320.586 |
295.018 |
309.358 |
|
Net worth |
330.586 |
305.018 |
319.358 |
|
|
|
|
|
|
long-term borrowings |
54.936 |
60.664 |
54.569 |
|
Short term borrowings |
64.737 |
103.187 |
140.262 |
|
Current Maturities of
Long Term Debt |
1.667 |
10.008 |
10.008 |
|
Total borrowings |
121.340 |
173.859 |
204.839 |
|
Debt/Equity ratio |
0.367 |
0.570 |
0.641 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Total Income |
384.417 |
563.161 |
|
|
46.497 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Total Income |
384.417 |
563.161 |
|
Profit |
(25.568) |
14.34 |
|
|
(6.65%) |
2.55% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
---------------------- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
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 |
Yes |
|
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 |
Yes |
|
33 |
Market information |
---------------------- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS
|
LITIGATION DETAILS |
|||||||
|
Bench:- Bombay Presentation Date : 09.12.2014 |
|||||||
|
Lodging No. : |
CPL/945/2014 |
Failing Date:- |
09.12.2014 |
Reg. No.:- |
CP/236/2015 |
Reg. Date:- |
17.03.2015 |
|
Petitioner:- |
BALJEE HOTELS AND REAL ESTATES PRIVATE LIMITED |
Respondent:- |
AMARTARA PRIVATE LIMITED |
||||
|
Petn. Adv:- |
V DESHPANDE AND CO (I2662) |
Resp. Adv.: |
DESAI DESAI CARRIMJE AND MULLA |
||||
|
District:- |
OUTSIDE MAHARASHTRA |
||||||
|
Bench:- |
SINGLE |
Category:- |
COMPANY PETITION U/SEC 433,434,439 COMPANIES ACT |
||||
|
Status:- |
Pre-Admission |
Stage:- |
COMPANY PETITIONS FOR ADMISSION |
||||
|
Next Date:- |
07.12.2015 |
Stage :- |
FOR ADMISSION (ORIGINAL SIDE MATTERS) |
||||
|
Coram :- |
HON’BLE SHRI JUSTICE K. R. SRIRAM |
||||||
|
Last Date :- |
21.09.2015 |
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Last Coram:- |
HON’BLE SHRI JUSTICE S.C. GUPTE |
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Act. : |
Companies Act and Rules 1956 |
Under Section:- 433 (E) 434 439 |
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UNSECURED LOAN
Rs.
In Million
|
Particular |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWINGS |
|
|
|
From Directors |
24.218 |
20.919 |
|
From Companies under the same management |
0.893 |
0.894 |
|
SHORT TERM
BORROWINGS |
|
|
|
Temporary Overdraft balance with State Bank of Hyderabad |
0.844 |
0.296 |
|
Deposits |
3.024 |
5.341 |
|
Total |
28.979 |
27.450 |
INDEX OF CHARGES
|
S. NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10293269 |
11/12/2014 * |
254,806,000.00 |
BANK OF BARODA |
SAKINAKA BRANCH,
UNIT NO. 4 & 5, TOWN CENTRE, AND |
C41082439 |
|
2 |
10187261 |
12/08/2015 * |
254,806,000.00 |
BANK OF BARODA |
SAKINAKA BRANCH,
UNIT NO. 4 & 5, TOWN CENTRE, AND |
C62870977 |
|
3 |
10018895 |
29/08/2006 |
280,000,000.00 |
INFRASTRUCTURE DEVELOPMENT FINANCE COMPANY LIMITED |
ITC CENTRE, 3RD
FLOOR760, ANNA SALAI, CHENNAI - |
A04481974 |
|
4 |
90218475 |
28/10/2013 * |
254,806,000.00 |
BANK OF BARODA |
SAKI NAKA BRANCH,,
ANDHERI-KURLA ROAD, SAKINAKA, |
B90826447 |
|
5 |
90216317 |
02/07/2002 |
100,000,000.00 |
H D F C LTD |
RAMON HOUSE H T
PAREKH MARG, 169 BACKBAY RECLAMAT |
- |
* Date of charge modification
FIXED ASSETS
- Land
- Building
- Plant and
machinery
- Electrical
Installation
- Motor
Vehicles
- Furniture and
Fixtures
- Office
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 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.61.83 |
|
|
1 |
Rs.101.04 |
|
Euro |
1 |
Rs.73.04 |
INFORMATION DETAILS
|
Information Gathered
by : |
KAR |
|
|
|
|
Analysis Done by
: |
KMN |
|
|
|
|
Report Prepared
by : |
PNM |
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 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
41 |
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.