MIRA INFORM REPORT

 

 

Report No. :

353420

Report Date :

08.12.2015

 

IDENTIFICATION DETAILS

 

Name :

CREATIVE TRENDZ PRIVATE LIMITED

 

 

Registered Office :

Plot No. 1-8, Survey No. 166, Opposite Prime Co-Operative Bank, Fulpada, A.K. Road, Surat – 395008, Gujarat

Tel. No.:

91-261-3060000/ 2487474

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

03.04.2006

 

 

Com. Reg. No.:

04-048058

 

 

Capital Investment / Paid-up Capital :

Rs.64.886 Million

 

 

CIN No.:

[Company Identification No.]

U17110GJ2006PTC048058

 

 

IEC No.:

5201001076

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

SRTC00939B

 

 

PAN No.:

[Permanent Account No.]

AACCC8368A

 

 

 

Legal Form :

Private Limited Liability Company.

 

 

Line of Business :

Processors of Embroidery work. [Confirmed by management]

 

 

No. of Employees :

600 (Approximately)

 

 

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

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company incorporated in the year 2006. It has satisfactory track.

 

For the financial year ended 2015, the company has improved its scale of operations marked by decent revenue along with profit earned this year in comparison with previous year loss.

 

The company has sound financial base along with adequate networth position marked by favorable gap between trade payables and receivables.

 

Trade relations are fair. Business is active. Payments are slow but correct.

 

The company can be considered for business dealings at usual trade terms and conditions.

 

Note: Subject was set up as a partnership concern in the year 1996 and got converted as a private limited company in 2006.

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CRISIL

Rating

Long Term Bank Facilities = BB-

Rating Explanation

Inadequate-credit-quality and high credit risk.

Date

June, 2015

 

Note: Suspension = Absence of requisite information.

 

 

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. Vipul Gajjar

Designation :

Account

Contact No.:

91-9879013506

Date :

07.12.2015

 

 

LOCATIONS

 

Registered Office :

Plot No. 1-8, Survey No. 166, Opposite Prime Co-Operative Bank, Fulpada, A.K. Road, Surat – 395008, Gujarat, India

Tel. No.:

91-261-3060000/ 2487474

Mobile No.:

91-9879013506 [Mr. Vipul]

Fax No.:

91-261-3060001/ 2487373

E-Mail :

dmsvilkiassociates@yahoo.com

info@creativetrendz.com

Website :

http://www.creativetrendz.com

Location :

Owned

Locality:

Commercial

 

 

Factory :

Plot No. 2, Block No. 24, Opposite Varibus Stand, Surat Kandora Main Road, Vardi, Surat – 394327, Gujarat, India

Location :

Owned

Locality:

Industrial

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Jayesh Dhirajlal Mistry

Designation :

Director

Address :

15, Gangotri Gandhi Kutir, Bhatar Road, Surat - 395007, Gujarat, India

Date of Appointment :

03.04.2006

DIN No.:

00007747

PAN No.:

ACXPM7158A

Other Directorship:

S.No.

CIN/LLPIN

Name of the company/ llp

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U17119GJ1991PTC015141

TORAL SYNTHETICS PRIVATE LIMITED

Director

04/03/1991

04/03/1991

-

Active

NO

2

U17119GJ1994PTC022026

ARUN TEXTILE ENGINEERS PRIVATE LIMITED

Director

11/05/1994

11/05/1994

-

Active

NO

3

U17116GJ1994PTC023631

SUN SILKS PRIVATE LIMITED

Director

23/11/1994

23/11/1994

-

Active

NO

4

U17299GJ1993PTC020133

SURYA RAYON PRIVATE LIMITED

Director

02/04/2005

02/04/2005

-

Active

NO

5

U17110GJ2006PTC048058

CREATIVE TRENDZ PRIVATE LIMITED

Director

03/04/2006

03/04/2006

-

Active

NO

6

U51109WB2005PTC103759

ROTECH MERCHANTS PRIVATE LIMITED

Director

11/09/2008

11/09/2008

-

Under Process of Striking off

NO

7

U24220GJ2009PTC055884

AMERI COATS INDIA PRIVATE LIMITED

Director

13/01/2009

13/01/2009

-

Active

NO

8

U17120GJ2009PTC057515

R J SQUARE LINK PRIVATE LIMITED

Director

13/07/2009

13/07/2009

-

Active

NO

9

U24134GJ2010PLC063117

CREATIVE POLYFILMS LIMITED

Director

02/12/2010

02/12/2010

-

Active

NO

10

U45400GJ2007PTC068034

BLLUE ORANGE DEVELOPERS PRIVATE LIMITED

Additional director

13/09/2012

13/09/2012

12/03/2014

Active

NO

11

U45203GJ2012PTC071979

MISBHA DEVELOPERS PRIVATE LIMITED

Director

17/09/2012

17/09/2012

-

Active

NO

12

U51109WB2008PTC122604

XAVIER SUPPLIERS PRIVATE LIMITED

Director

27/12/2012

27/12/2012

-

Active

NO

 

 

Name :

Rameshbhai Raghavbhai Bhadani

Designation :

Director

Address :

P. No. 9, Dhanamal Compound, Varracha Road, Surat, 395006, Gujarat, India

Date of Appointment :

03.04.2006

DIN No.:

00007740

PAN No.:

ADKPB0556F

Other Directorship:

S.No.

CIN/LLPIN

Name of the company/ llp

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U17299GJ1993PTC020133

SURYA RAYON PRIVATE LIMITED

Director

02/04/2005

02/04/2005

-

Active

NO

2

U17110GJ2006PTC048058

CREATIVE TRENDZ PRIVATE LIMITED

Director

03/04/2006

03/04/2006

-

Active

NO

3

U17120GJ2007PTC050994

SURESH TEXFAB PRIVATE LIMITED

Director

01/04/2008

01/04/2008

-

Active

NO

4

U51109WB2005PTC103759

ROTECH MERCHANTS PRIVATE LIMITED

Director

11/09/2008

11/09/2008

-

Under Process of Striking off

NO

5

U24220GJ2009PTC055884

AMERI COATS INDIA PRIVATE LIMITED

Director

13/01/2009

13/01/2009

-

Active

NO

6

U17120GJ2009PTC057515

R J SQUARE LINK PRIVATE LIMITED

Director

13/07/2009

13/07/2009

-

Active

NO

7

U24134GJ2010PLC063117

CREATIVE POLYFILMS LIMITED

Director

02/12/2010

02/12/2010

-

Active

NO

8

U45400GJ2007PTC068034

BLLUE ORANGE DEVELOPERS PRIVATE LIMITED

Additional director

13/09/2012

13/09/2012

12/03/2014

Active

NO

9

U45203GJ2012PTC071979

MISBHA DEVELOPERS PRIVATE LIMITED

Director

17/09/2012

17/09/2012

-

Active

NO

10

U51109WB2008PTC122604

XAVIER SUPPLIERS PRIVATE LIMITED

Director

27/12/2012

27/12/2012

-

Active

NO

11

U55204GJ2013PTC076914

HOTEL SIFAT INTERNATIONAL PRIVATE LIMITED

Director

11/02/2014

11/02/2014

-

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. Vipul Gajjar

Designation :

Account

 

MAJOR SHAREHOLDERS

 

AS ON 30.09.2014

 

Names of Shareholders

 

No. of Shares

Jayeshkumar D. Mistry

 

1962469

Rameshbhai R. Bhadani

 

32

Mayaben J. Mistr0079

 

883467

Vimal Mistry

 

277566

Vijaybhai Bhadani

 

500

Virumatiben J. Mistry

 

1

Sunil Anandpara

 

1

Surya Rayons Pvt. Ltd.

 

1

Suresh Tex Fab Pvt. Ltd.

 

1

Ashokbhai Haribhai Gajera

 

3177033

Rotech Merchant Pvt. Ltd

 

1

Balaji Impex

 

133520

Jayeshkumar D. Mistry- HUF

 

1

Haribhai C. Patel

 

54062

Jagdish Pansuria

 

1

Bhikhabhai S Pansuria

 

1

Parvatiben Patel

 

1

Three Star Ent

 

1

Jenishaben Modi

 

1

Total

 

6488660

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 30.09.2014

 

Category

Percentage

Bodies corporate

51.02

Directors or relatives of Directors

48.97

Other top fifty (50) shareholders (other than listed above)

0.01

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Processors of Embroidery work. [Confirmed by management]

 

 

Products :

Not Available

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Finished Goods

Countries :

Korea

 

 

Imports :

 

Products :

Raw Material

Countries :

Korea

 

 

Terms :

 

Selling :

Cheque

 

 

Purchasing :

Cheque

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Three Star Enterprises

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Retailers and End users

 

Reference :

Creative Ploy films Limited

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

600 (Approximately) 

 

 

Bankers :
  • The Surat Peoples Co-Operative Bank Limited, Timaliyawad, Nanpura, Surat - 395001, Gujarat, India
  • Indusind Bank Limited
  • HDFC Bank Limited

 

 

Banker Name

The Cosmos Co-Operative Bank Limited

Branch Address

Udhna Darwaja Branch, Udhna Darwaja,, Surat - 395002, Gujarat, India

Person Name (With Designation)

Not Available

Contact Number

91-261-2310491

Name of Account Holder

Creative Trendz Private Limited

Account Number

Not Available

Account Since (Date/Year of Account Opening)

Not Available

Average Balance Maintained (If Possible)

Not Available

Credit Facilities Enjoyed (If any)

Cash, credit and term loan = Rs.120.000 million

Account Operation

Not Available

Remarks (If any)

No. is Ringing

 

 

Facilities :

(Rs. In Million)

 

SECURED LOAN

As on

31.03.2015

As on

31.03.2014

LONG TERM BORROWING

 

 

Term Loan from Bank

 

 

Indusind Bank Limited

10.884

11.659

Aditya Birla finance Limited

59.313

49.927

Cosmos Bank Term Loan – 1

20.355

16.953

HDFC Bank Limited

2.715

0.000

ICICI Range Rover Loan

8.109

12.762

Cosmos Term Loan – 2

2.926

0.000

Cosmos Term Loan – 3

10.845

29.109

SHORT TERM BORROWING

 

 

Loans repayable on demand Bank

 

 

Cosmos Co-op Bank

67.491

70.326

Total

182.638

190.736

 

Financial Institutions:
  • Aditya Birla finance Limited

 

 

Auditors :

 

Name :

D. M. S. and Vilki Associates

Chartered Accountants

Address :

Ug 1 And 2, Luxor Palace, Nanpura, Surat, Gujarat, India

Tel. No.:

91-2463031/2463032

E-Mail :

dmsvilkiassociates@yahoo.com

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

AABFD9608C

 

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Sister Concern :
  • Creative Studio, India
  • R J Square Link Private Limited, India
  • Ishi Enterprise, India
  • Shivangi Enterprise, India
  • Hitesh Enterprise, India
  • Rashmi Syntex, India
  • Shivangi Enterprise, India
  • Manmohak Fashion
  • Creative Polyfilms Private Limited
  • Shyam Enterprises
  • Megal Collection Private Limited
  • Jenish Modi

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2015

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

6500000

Equity Shares

Rs.10/- each

Rs.65.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

6488660

Equity Shares

Rs.10/- each

Rs.64.886 Million

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2015

31.03.2014

31.03.2013

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

64.887

64.887

64.887

(b) Reserves & Surplus

193.343

215.259

127.015

(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)

258.230

280.146

191.902

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

122.891

134.748

135.542

(b) Deferred tax liabilities (Net)

28.100

30.970

30.600

(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)

150.991

165.718

166.142

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

67.491

70.326

77.555

(b) Trade payables

68.796

72.498

56.842

(c) Other current liabilities

42.249

44.023

1.108

(d) Short-term provisions

3.125

4.000

1.000

Total Current Liabilities (4)

181.661

190.847

136.505

 

 

 

 

TOTAL

590.882

636.711

494.549

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

262.850

275.712

278.316

(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

49.239

49.239

49.139

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

42.106

59.612

19.438

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

354.195

384.563

346.893

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

20.703

30.817

19.444

(c) Trade receivables

102.410

100.481

107.173

(d) Cash and cash equivalents

92.746

20.772

9.297

(e) Short-term loans and advances

20.828

100.078

11.742

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

236.687

252.148

147.656

 

 

 

 

TOTAL

590.882

636.711

494.549

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2015

31.03.2014

31.03.2013

 

SALES

 

 

 

 

Income

302.532

327.448

 

 

Other Income

1.108

1.248

 

 

TOTAL (A)

303.640

328.696

NA

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

133.813

159.995

 

 

Purchases of Stock-in-Trade

0.000

0.000

 

 

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

0.000

0.000

 

 

Employees benefits expense

50.706

46.994

 

 

 

-0.728

-0.134

 

 

Other expenses

52.180

50.837

 

 

TOTAL (B)

235.971

257.692

NA

 

 

 

 

 

Less

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

67.669

71.004

NA

 

 

 

 

 

Less

FINANCIAL EXPENSES (D)

30.150

29.246

NA

 

 

 

 

 

 

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

37.519

41.758

NA

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION (F)

34.775

38.644

NA

 

 

 

 

 

 

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

2.744

3.114

NA

 

 

 

 

 

Less

TAX (H)

0.255

4.370

NA

 

 

 

 

 

 

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

2.489

(1.256)

3.903

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

0.36

0.00

0.60

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2015

31.03.2014

31.03.2013

Current Maturities of Long term debt

41.240

42.768

0.000

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

NA

121.949

74.306

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2015

31.03.2014

31.03.2013

Net Profit Margin

(PAT / Sales)

(%)

0.82

-0.38

NA

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

22.37

21.68

NA

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

0.51

0.53

0.00

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.01

0.01

0.00

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.74

0.73

1.11

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.30

1.32

1.08

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

64.887

64.887

64.887

Reserves & Surplus

127.015

215.259

193.343

Net worth

191.902

280.146

258.230

 

 

 

 

Long-term borrowings

135.542

134.748

122.891

Short term borrowings

77.555

70.326

67.491

Total borrowings

213.097

205.074

190.382

Debt/Equity ratio

1.110

0.732

0.737

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

Sales

327.448

302.532

 

(7.609)

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

Sales

327.448

302.532

Profit/ (Loss)

(1.256)

2.489

 

(0.38%)

0.82%

 

 

 

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

Yes

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

Yes

16

No. of employees

Yes

17

Details of sister concerns

Yes

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 two 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

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

UNSECURED LOAN

 

(Rs. In Million)

Particulars

As on

31.03.2015

As on

31.03.2014

LONG TERM BORROWING

 

 

Loan and Advances from Related Parties

 

 

Haribhai chhaganbhai Patel

0.700

0.700

Shanti Tex Prints Private Limited

1.553

1.466

Bhartiben Pareshkumar

3.000

3.190

Jayantbhai M Patel

0.700

0.750

R J square Link Private Limited

0.000

6.879

Jenishben A. Modi

0.000

1.352

 

5.953

14.337

Loan and Advances Others

 

 

Ashok C Kariwala

0.180

0.000

Sureshbhai Patel

1.600

0.000

Tropical

0.012

0.000

Total

7.745

14.337

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10422136

16/04/2013

279,252,000.00

THE COSMOS CO-OPERATIVE BANK LIMITED

UDHNA DARWAJA BRANCH,, UDHNA DARWAJA, SURAT, GUJARAT - 395002, INDIA

B73861437

2

10415058

02/04/2013 *

279,252,000.00

THE COSMOS CO-OPERATIVE BANK LIMITED

UDHNA DARWAJA BRANCH,, UDHNA DARWAJA,SURAT, GUJARAT - 395002, INDIA

B72648660

3

10230363

22/07/2010

1,820,000.00

THE SURAT PEOPLES CO-OPERATIVE BANK LIMITED

TIMALIYAWAD, NANPURA, SURAT, GUJARAT - 395001, INDIA

A90347956

 

* Date of charge modification

 

 

FIXED ASSETS

 

Tangible assets

 

 

·         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.66.63

UK Pound

1

Rs.100.65

Euro

1

Rs.72.40

 

 

INFORMATION DETAILS

 

Information Gathered by :

GYT

 

 

Analysis Done by :

TRI

 

 

Report Prepared by :

GEET

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY

1~10

4

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

5

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

YES

--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

 

--

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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