MIRA INFORM REPORT
|
Report No. : |
354045 |
|
Report Date : |
11.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
AROMA CHEMICAL AGENCIES (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
12, Peninsula Centre, S. S. Rao Road, Parel, Mumbai – 400012, |
|
Tel. No.: |
91-22-66606061 |
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|
|
Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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|
Date of
Incorporation : |
03.02.2003 |
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|
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Com. Reg. No.: |
11-138969 |
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Capital
Investment / Paid-up Capital : |
Rs. 2.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24220MH2003PTC138969 |
|
|
|
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IEC No.: |
0302083294 |
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|
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA18788A |
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|
|
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PAN No.: [Permanent Account No.] |
AAECA1185F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader, Distributor and Importer of Chemicals. (Confirmed by management) |
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No. of Employees
: |
75 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject was established in the year 2003 and it is a trader and
distributors of chemicals. For the financial year ended 2014, company possesses sound operational
performance and it has maintained average profit margin at 1.95% during the
year under review. Rating takes into consideration company’s established track record of
business operations supported by its above average net worth base along with
favorable gap between trade payables to its receivables and sound debt
coverage indicators. Trade relations are reported as fair. Payment terms are reported to be
usually correct. The company can be considered for business dealings at usual trade
terms and condition. Note : As per Registrar of Companies the date of balance sheet (i.e.
financial filed) is shown as 31.03.2015 but the documents related to the
financial for the year 31.03.2015 are not available from any source. |
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
NOT AVAILABLE
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 (General Details)
|
Name : |
Mr. A. Kamdar |
|
Designation : |
Finance Department |
|
Contact No.: |
91-22-66606061 |
|
Date : |
09.12.2015 |
LOCATIONS
|
Registered/ Head Office : |
12 Peninsula Centre, |
|
Tel. No.: |
91-22-66606061 / 40649494 |
|
Mobile No.: |
91-9702027986 (Mr. Saurin K Shah) |
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Fax No.: |
91-22-66607887 / 24131873 |
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E-Mail : |
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Website : |
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Area : |
10000 Sq. Ft |
|
Location : |
Owned |
|
Locality : |
Commercial |
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|
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Branch Office : |
Y – 26, Okhala Industries, AL Estate, Phase II, New Delhi, India Area: 1000 sq. ft. Location : Rented C. S. Dag No. 64, 119/5 Moula Girati, 24 Parganas, Kolkata, India Area: 3000 sq. ft. Location : Rented 115 5, M |
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|
|
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Warehouse : |
Located At :
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DIRECTORS
AS ON 31.03.2015
|
Name : |
Mr. Saurin Kirit Shah |
|
Designation : |
Managing Director |
|
Address : |
97/2, Nand Ghanshyam, Sion (West), Mumbai – 400022, Maharashtra, India |
|
Date of Birth/Age : |
15.03.1972 |
|
Qualification : |
B. Sc. |
|
Date of Appointment : |
03.02.2003 |
|
Voter ID No.: |
MT/06/035/141252 |
|
PAN No.: |
AACPS2763A |
|
DIN No.: |
00760288 |
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|
|
|
Name : |
Mr. Kirit Ramanlal Shah |
|
Designation : |
Director |
|
Address : |
97/2, Nand Ghanshyam, Sion (West), Mumbai – 400022, Maharashtra, India |
|
Date of Birth/Age : |
15.11.1943 |
|
Qualification : |
B. Sc. |
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PAN No.: |
AAFPS3476H |
|
Date of Appointment : |
03.02.2003 |
|
Voter ID No.: |
MT/06/.035/141263 |
|
DIN No.: |
00239525 |
|
|
|
|
Name : |
Mr. Anantrai Keshavji Kamdar |
|
Designation : |
Director |
|
Address : |
110/2, Shakuntal, Sion (West), Mumbai – 400022, Maharashtra, India |
|
Date of Birth/Age : |
10.11.1943 |
|
Qualification : |
B. Sc. |
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PAN No.: |
ADYPK2666D |
|
Date of Appointment : |
03.02.2003 |
|
Voter ID No.: |
MT/22/14/543799 |
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DIN No.: |
00239909 |
|
|
|
|
Name : |
Mr. Haresh Vinaychand Mehta |
|
Designation : |
Director |
|
Address : |
Flat No. A-15, 6th Floor, Konark Indrapresth, Jain Mandir Road,
Mulund (West), Mumbai – 400080, Maharashtra, India |
|
Date of Birth/Age : |
30.07.1962 |
|
Date of Appointment : |
21.01.2008 |
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PAN No.: |
AABPM8204D |
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DIN No.: |
01986449 |
KEY EXECUTIVES
|
Name : |
Mr. A. Kamdar |
|
Designation : |
Finance Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2015
|
Names of Shareholders |
|
No. of Shares |
|
Kirit R. Shah |
|
107500 |
|
Saurin K. Shah |
|
19200 |
|
Anantrai K. Kamda |
|
5110 |
|
Indira K. Shah |
|
10000 |
|
Sheetal S. Shah |
|
46000 |
|
Roma S. Parikh |
|
10000 |
|
Haresh V. Mehta |
|
2000 |
|
Rihen S. Shah |
|
190 |
|
Total |
|
200000 |
AS ON 18.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
99.80 |
|
Other
top fifty shareholders |
0.20 |
|
TOTAL |
100.00 |
%20PRIVATE%20LIMITED%20-%20354045_MIRA%2011-Dec-2015_files/image009.gif)
BUSINESS DETAILS
|
Line of Business : |
Trader, Distributor and Importer of Chemicals. (Confirmed by management) |
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Products : |
Chemicals |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
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Products : |
Chemical |
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Countries : |
·
Germany ·
Thailand ·
United State of America ·
Netherlands |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Retailers, End Users
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No. of Employees : |
75 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Akshay Doshi and Company Chartered Accountants |
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Address : |
13-14, Ram Sharan, Plot No. 45, Sion (West), Mumbai – 400022,
Maharashtra, India |
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Tel. No.: |
91-22-23434211 |
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Fax No.: |
91-22-23434138 |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AFPPD0854F |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates : |
·
Alchemie Agencies Private Limited ·
Grin Travels Private Limited ·
Rosalee Colours Private Limited · Aroma Agencies |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250,000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 Million |
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|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200,000 |
Equity Shares |
Rs.10/- each
|
Rs.2.000
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 |
2.000 |
2.000 |
2.000 |
|
(b) Reserves & Surplus |
192.879 |
157.977 |
135.003 |
|
(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) |
194.879 |
159.977 |
137.003 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
1.742 |
1.454 |
1.065 |
|
(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) |
1.742 |
1.454 |
1.065 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
278.983 |
217.534 |
236.140 |
|
(b) Trade
payables |
168.452 |
106.732 |
146.051 |
|
(c) Other
current liabilities |
13.772 |
9.189 |
7.515 |
|
(d) Short-term
provisions |
26.275 |
9.831 |
12.720 |
|
Total Current Liabilities
(4) |
487.482 |
343.286 |
402.426 |
|
|
|
|
|
|
TOTAL |
684.103 |
504.717 |
540.494 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
65.830 |
69.855 |
66.735 |
|
(ii)
Intangible Assets |
0.263 |
0.439 |
0.223 |
|
(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 |
0.000 |
|
(d) Long-term Loan and Advances |
27.023 |
12.144 |
11.491 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
93.116 |
82.438 |
78.449 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
205.196 |
154.197 |
173.168 |
|
(c) Trade
receivables |
343.156 |
243.397 |
258.564 |
|
(d) Cash
and cash equivalents |
7.613 |
13.132 |
14.043 |
|
(e)
Short-term loans and advances |
5.079 |
2.410 |
2.767 |
|
(f) Other
current assets |
29.943 |
9.143 |
13.503 |
|
Total
Current Assets |
590.987 |
422.279 |
462.045 |
|
|
|
|
|
|
TOTAL |
684.103 |
504.717 |
540.494 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
NA |
1422.542 |
1379.418 |
|
|
|
Other Income |
NA |
25.259 |
22.521 |
|
|
|
TOTAL |
NA |
1447.801 |
1401.939 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
1414.434 |
1360.030 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
NA |
33.367 |
41.909 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
10.393 |
13.430 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
34.902 |
22.974 |
28.479 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
174.51 |
114.87 |
142.40 |
|
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) operation |
(84.972) |
67.891 |
44.774 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
NA
|
1.61 |
2.06 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
6.61 |
7.75 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
0.21 |
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.43 |
1.36 |
1.72 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.21 |
1.23 |
1.15 |
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 |
2.000 |
2.000 |
2.000 |
|
Reserves & Surplus |
135.003 |
157.977 |
192.879 |
|
Net worth |
137.003 |
159.977 |
194.879 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
236.140 |
217.534 |
278.983 |
|
Total borrowings |
236.140 |
217.534 |
278.983 |
|
Debt/Equity ratio |
1.724 |
1.360 |
1.432 |
%20PRIVATE%20LIMITED%20-%20354045_MIRA%2011-Dec-2015_files/image011.gif)
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
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 |
Yes |
|
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 |
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 |
No |
|
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 |
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10008978 |
05/08/2010 * |
165,000,000.00 |
CITIBANK N. A. |
TRENT HOUSE, 2ND FLOOR, G BLOCK, PLOT NO.C60, BANDRA KURLA COMPLEX,
BANDRA (E), MUMBAI, Maharashtra |
A91247353 |
|
2 |
80004403 |
05/08/2010 * |
165,000,000.00 |
CITIBANK N. A. |
TRENT HOUSE, 2ND FLOOR, G BLOCK, PLOT NO.C60, BANDRA KURLA COMPLEX,
BANDRA (E), MUMBAI, Maharashtra |
A91246462 |
* Date of charge modification
|
PARTICULARS |
As
on 31.03.2014 (Rs.
in Million) |
As
on 31.03.2013 (Rs.
in Million) |
|
Short Term
Borrowings |
|
|
|
Intercorporate Borrowings |
68.893 |
50.874 |
|
Loans and Advances from Related Parties |
173.730 |
160.778 |
|
|
|
|
|
TOTAL
|
242.623 |
211.652 |
FIXED ASSETS:
· Buildings
· Plant and Machinery
· Godown
· Computers
· Furniture and Fixtures
· Vehicles
· Computer Equipment’s
· Office Equipment
· Plant and Equipment
· Computer Software
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.66.79 |
|
|
1 |
Rs.100.49 |
|
Euro |
1 |
Rs.72.51 |
INFORMATION DETAILS
|
Information
Gathered by : |
GAY |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
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 |
|
48 |
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.