MIRA INFORM REPORT

 

 

Report No. :

353470

Report Date :

07.12.2015

 

IDENTIFICATION DETAILS

 

Name :

MAHINDRA BEBANCO DEVELOPERS LIMITED

 

 

Registered Office :

5th Floor, Mahindra Towers, Dr. G.M. Bhosale Marg, P.K. Kurne Chowk, Worli, Mumbai – 400018, Maharashtra

Tel. No.:

91-22-67478600

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

03.06.2008

 

 

Com. Reg. No.:

11-183107

 

 

Capital Investment / Paid-up Capital :

Rs. 0.500 Million

 

 

CIN No.:

[Company Identification No.]

U45203MH2008PLC183107

 

 

IEC No.:

Not Divulged

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Subject is engaged in the business of Development of Residential Complexes. [Registered Activity]

 

 

No. of Employees :

Information declined by the management

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (42)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Mahindra Bebanco Developers Limited (MBDL) is 70:30 joint venture between “Mahindra Lifespace Developers Limited” and “B.E. Billimoria and Co. Limited” with ultimate holding company “Mahindra & Mahindra Limited”.

 

MBDL is developing a residential complex named “Bloomdale” across 25 acres at Multi-modal International Hub Airport at Nagpur (MIHAN) offering choice of mid-rise apartments, row houses and duplex homes. MBDL launched first phase of its project in 2011-12 and during the year, phase two of the project was launched and the construction of both the phases is progressing.

 

Mahindra Lifespace Developers Limited is one of the most reputed real estate property developers and infrastructure arm of the Mahindra Group, an Indian conglomerate with diversified business segments.

 

In addition, Mahindra and Mahindra Limited, an Indian multinational automobile manufacturing corporation has been ranked 55th in the Auto 500 for the year 2015 with brand value of USD 1,498 million and enterprise value of USD 18,442 million.

 

Further, as per Registrar of Companies, the date of balance sheet (i.e. financial field) is shown as 31.03.2015 but the documents related to the financials are not available from any source.

 

However, as per 2014 financial of MBDL, it has recorded accumulated losses from its business operations with has eroded networth of the company. However, the company receives strong operational and financial support from its joint venture entities.

 

Moreover, these ratings remains exposed to the cyclical nature of the real estate sector, resulting in high fluctuations in cash inflows on account of volatility in both realisations and saleability.

 

Trade relations are reported as fair. Business is active. Payments are reported to be slow but correct.

 

In view of aforesaid, 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.

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CRISIL

Rating

Long term Bank facilities = A

Rating Explanation

Adequate degree of safety and low credit risk.

Date

September 08, 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 31-03-2015.

 

 

INFORMATION DECLINED

 

MANAGEMENT NON-COOPERATIVE

 

[CONTACT NO.: 91-22-67478600]

 

 

LOCATIONS

 

Registered Office :

5th Floor, Mahindra Towers, Dr. G.M. Bhosale Marg, P.K. Kurne Chowk, Worli, Mumbai – 400018, Maharashtra, India

Tel. No.:

91-22-67478600/ 8601

Fax No.:

91-22-24975084

E-Mail :

shinde.arti@mahindralifespaces.com

 

 

DIRECTORS

 

AS ON 15.07.2014

 

Name :

Mr. Digant Laxmidas Kapadia

Designation :

Director

Address :

Ramanuj, 2nd Floor, Plot No.152, Road No.9, Wadala, Mumbai - 400031, Maharashtra, India

Date of Birth/Age :

05.03.1957

Qualification :

BE (Civil)

Date of Appointment :

30.01.2012

DIN No.:

00021310

 

 

Name :

Mr. Raghunath Murti

Designation :

Director

Address :

53, Venus Apartment, 87, Cuffe Parade, Mumbai - 400005, Maharashtra, India

Date of Appointment :

25.03.2015

DIN No.:

00082761

 

 

Name :

Mrs. Anita Arjundas

Designation :

Director

Address :

Flat No-501, 5th Floor,, Silver Springs, 98 Perry Road, Bandra West, Mumbai - 400050, Maharashtra, India

Date of Birth/Age :

22.06.1967

Qualification :

MBA

Date of Appointment :

16.11.2009

DIN No.:

00243215

 

 

Name :

Mr. Vijay Ramvallabh Khetan

Designation :

Director

Address :

103, Indraprastha 2A, Raheja Township, Malad (West), Mumbai - 400097, Maharashtra, India

Date of Appointment :

25.03.2015

DIN No.:

00465161

 

 

Name :

Mr. Jeet Digant Kapadia

Designation :

Director

Address :

Ramanuj, 2nd Floor, Plot No.152, Road No.9, Wadala, Mumbai - 400031, Maharashtra, India

Date of Birth/Age :

27.11.1987

Qualification :

MS

Date of Appointment :

18.07.2013

DIN No.:

02633453

 

 

Name :

Mr. Jayant Bhalchandra Manmadkar

Designation :

Director

Address :

707, Keshar Upvan CHS, Pokharan Road 2, Thane West - 400610, Maharashtra, India

Date of Birth/Age :

14.03.1969

Qualification :

ICWA, CA & CS

Date of Appointment :

30.01.2012

DIN No.:

03044559

 

 

Name :

Mr. Ramesh Ranganathan

Designation :

Additional director

Address :

301, Parshavnath Garden, Bhaudaji Road, Matunga East, Mumbai - 400019, Maharashtra, India

Date of Birth/Age :

24.04.1975

Date of Appointment :

01.08.2015

DIN No.:

03118598

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 15.07.2014

 

Names of Shareholders

 

No. of Shares

 

Mahindra Lifespace Developers Limited, India

 

34950

B.E. Billimoria and Co. Limited, India

 

15000

Mahindra Lifespace Developers Limited, India and Arun Nanda

 

10

Mahindra Lifespace Developers Limited, India and Anita Arjundas

 

10

Mahindra Lifespace Developers Limited, India and Suhas Kulkarni

 

10

Mahindra Lifespace Developers Limited, India and Ulhas Bhosale

 

10

Mahindra Lifespace Developers Limited, India and Jayantt Manmadkar

 

10

 

 

 

Total

 

 

50000

 

 

AS ON 15.07.2014

 

Equity Share Breakup

Percentage of Holding

Category

 

Bodies corporate

100.00

 

 

Total

 

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged in the business of Development of Residential Complexes. [Registered Activity]

 

 

Products :

ITC Code No.

 

Product Descriptions

99531129

Constructions

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

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 (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

Customers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

No. of Employees :

Information declined by the management

 

 

Bankers :

Bank Name:

Not Divulged

Branch:

Not Divulged

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 A/c Opening):

Not Divulged

Average Balance Maintained (Optional):

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan):

Not Divulged

Account Operation:

Not Divulged

Remarks:

Not Divulged

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Debentures

0.000

400.000

SHORT TERM BORROWINGS

 

 

Working capital loans from banks

46.388

35.989

 

 

 

Total

 

46.388

435.989

 

Banking Relations :

--

 

 

Financial Institution :

·         Axis Trustee Services Limited

Axis House, 2nd Floor, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai - 400025, Maharashtra, India

 

 

Auditors :

 

Name :

B. K. Khare and Company

Chartered Accountants

Address :

706-708, Sharda Chambers, New Marine Lines, Mumbai – 400020, Maharashtra, India

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

AAAEB0265E

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Holding Company :

Mahindra Lifespace Developers Limited [L45200MH1999PLC118949]

 

 

Associate :

B E Billimoria and Company Limited [U45200MH1962PLC012268]

 

 

Ultimate Holding Company :

Mahindra and Mahindra Limited

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

50,000

Equity Shares

Rs. 10/- each

Rs. 0.500 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

50,000

Equity Shares

Rs. 10/- each

Rs. 0.500 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

0.500

0.500

0.500

(b) Reserves & Surplus

(56.051)

(67.483)

(22.292)

(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)

(55.551)

(66.983)

(21.792)

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

252.142

652.142

0.000

(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

0.017

Total Non-current Liabilities (3)

252.142

652.142

0.017

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

46.388

35.989

363.642

(b) Trade payables

396.129

470.101

53.837

(c) Other current liabilities

573.820

92.475

132.868

(d) Short-term provisions

2.216

1.631

1.074

Total Current Liabilities (4)

1018.553

600.196

551.421

 

 

 

 

TOTAL

1215.144

1185.355

529.646

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

19.381

1.080

1.196

(ii) Intangible Assets

0.000

0.000

0.000

(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

0.000

0.000

0.000

(c) Deferred tax assets (net)

0.000

0.000

10.706

(d)  Long-term Loan and Advances

0.000

0.000

0.000

(e) Other Non-current assets

24.493

23.200

23.185

Total Non-Current Assets

43.874

24.280

35.087

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

27.567

2.808

(b) Inventories

880.015

883.718

434.143

(c) Trade receivables

153.540

44.609

0.000

(d) Cash and cash equivalents

15.427

10.915

3.186

(e) Short-term loans and advances

104.957

102.161

54.422

(f) Other current assets

17.331

92.105

0.000

Total Current Assets

1171.270

1161.075

494.559

 

 

 

 

TOTAL

1215.144

1185.355

529.646

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Revenue from Operations

525.698

248.118

0.000

 

 

Other Income

0.451

0.134

0.000

 

 

TOTAL                                     (A)

526.149

248.252

0.000

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

440.050

218.898

0.000

 

 

Employees benefits expense

4.554

3.665

2.000

 

 

Other expenses

65.695

59.623

26.851

 

 

TOTAL                                     (B)

510.299

282.186

28.851

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

15.850

(33.934)

(28.851)

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

0.000

0.000

0.000

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                               (E)

15.850

(33.934)

(28.851)

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

1.418

0.551

0.302

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX (E-F)                 (G)

14.432

(34.485)

(29.153)

 

 

 

 

 

Less

TAX                                                                  (H)

3.000

10.706

(10.706)

 

 

 

 

 

 

PROFIT/ (LOSS) AFTER TAX (G-H)                   (I)

11.432

(45.191)

(18.447)

 

 

 

 

 

 

Earnings/ (Loss) Per Share (Rs.)

228.64

(903.83)

(368.93)

 

 

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

(13.948)

(291.561)

(81.264)

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

2.17

(18.21)

0.00

 

 

 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)

3.02

(13.68)

0.00

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

1.19

(2.91)

(5.62)

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

(0.26)

0.51

1.34

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

(5.37)

(10.27)

(16.69)

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.15

1.93

0.90

 

 

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

0.500

0.500

0.500

Reserves & Surplus

-22.292

-67.483

-56.051

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

-21.792

-66.983

-55.551

 

 

 

 

Long-term borrowings

0.000

652.142

252.142

Short term borrowings

363.642

35.989

46.388

Total borrowings

363.642

688.131

298.530

Debt/Equity ratio

-16.687

-10.273

-5.374

 

 

 

 

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

0.000

248.118

525.698

 

 

 

111.874

 

 

 

 

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

0.000

248.118

525.698

Profit/ (Loss)

(18.447)

(45.191)

11.432

 

 

(18.21%)

2.17%

 

 

 

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

No

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

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10533967

07/11/2014

250,000,000.00

AXIS TRUSTEE SERVICES LIMITED

AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA

C34656090

2

10416585

25/06/2013 *

200,000,000.00

KOTAK MAHINDRA BANK LIMITED

36-38A, NARIMAN BHAVAN, 227, D, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA

B79571949

 

* Date of charge modification

 

 

UNSECURED LOANS

 

PARTICULARS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Intercorporate deposits

252.142

252.142

 

 

 

Total

 

252.142

252.142

 

 

CORPORATE INFORMATION

 

The company is engaged in the business of development of residential complexes in MIHAN at Nagpur. Based on the nature of activity carried out by the Company and the period between the procurement and realisation in cash and cash equivalents, the Company has ascertained its operating cycle sas 5 years for the purpose of Current - Non Current classification of assets and liabilities.

 

 

OPERATIONS

 

“Bloomdale”, is the Company’s first venture, located in Nagpur, Maharashtra. This project is conceived as a gated community spanning around 25 acres and offering a choice of midrise apartments, row houses and duplex homes. During the year, phase two of the project was launched with 97 units having a total saleable area of 0.14 million square feet. This was in addition to the 330 units of Phase one with a total saleable area of 0.41 million square feet. The Construction of both Phase one and two is progressing.


FIXED ASSETS:

 

·         Plant and equipment

·         Furniture and fixtures

·         Office equipment

·         Computer equipments

·         Other equipments

·         Leasehold improvements

 

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 records 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. 66.84

UK Pound

1

Rs. 101.04

Euro

1

Rs. 73.05

 

 

INFORMATION DETAILS

 

Information Gathered by :

GYT

 

 

Analysis Done by :

HNA

 

 

Report Prepared by :

BVA

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

6

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILIRY

1~10

--

--LIQUIDITY

1~10

6

--LEVERAGE

1~10

6

--RESERVES

1~10

--

--CREDIT LINES

1~10

6

--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

 

42

 

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

 

--

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.