MIRA INFORM REPORT
|
Report No. : |
354083 |
|
Report Date : |
15.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
MITC ROLLING MILLS PRIVATE LIMITED (w.e.f. 14.12.2006) |
|
|
|
|
Formerly Known
As : |
NEW
BOMBAY ISPAT UDYOG PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
B-2/1 and B-2/2, MIDC, Palkhed Road, Dindori, Nashik – 422202,
Maharashtra |
|
Tel. No.: |
91-2557-228600 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
26.04.1985 |
|
|
|
|
Com. Reg. No.: |
11-036042 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.23.036 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51420MH1985PTC036042 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACN1731C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of MITC TMT, Mild Steel and Alloy, Rounds and Billets,
ISI Approved Fine Quality of Iron and Steel, Alloy Casting, Specialists in
Heavy Castings. [Registered
Activity] |
|
|
|
|
No. of Employees
: |
Information declined by the management |
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 1985. It
has satisfactory track. 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 financials are
not available from any sources. For the financial year ended 2014, the company has decent operational
activity marked by top line growth of 11.4%. However, it has thin
profitability margin. The company has sound financial base marked by decent networth
position along with favourable 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. |
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
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 DENIED
Management Non-Cooperative (91-22-61571234)
LOCATIONS
|
Registered Office/ Factory : |
B-2/1 and B-2/2, MIDC, Palkhed Road, Dindori, Nashik – 422202,
Maharashtra, India |
|
Tel. No.: |
91-2557-228600 |
|
Fax No.: |
91-2557-228610 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Administration Office : |
Garodia Market, Ground Floor, Plot No. 8-A, Near Pearl Hotel, Dr. Sandhu Marg, Chembur Gaothan, Chembur (East), Mumbai – 400071, Maharashtra, India |
|
Tel. No.: |
91-22-61571234 |
|
Fax No.: |
91-22-61571230 |
DIRECTORS
AS ON 31.03.2015
|
Name : |
Mr. Chetan Damji Lodaya |
|
Designation : |
Director |
|
Address : |
102, Sai Sparsh Building, M. Phule Road, Opposite Bhoir Wadi, GRD, Dombivli (West), Mumbai – 421202, Maharashtra, India |
|
Date of Birth/Age : |
07.12.1970 |
|
Date of Appointment : |
01.12.2004 |
|
DIN No.: |
00272236 |
|
PAN No.: |
ABBPL3773H |
|
|
|
|
Name : |
Mr. Champshi Manekji Shah |
|
Designation : |
Director |
|
Address : |
14, Jayesh-A, R.B. Mehta Marg, Ghatkopar (East), Mumbai – 400077, Maharashtra, India |
|
Date of Birth/Age : |
06.12.1943 |
|
Date of Appointment : |
12.06.1999 |
|
DIN No.: |
00400338 |
|
PAN No.: |
ALPPS6684L |
|
|
|
|
Name : |
Mr. Atul Champshi Shah |
|
Designation : |
Director |
|
Address : |
A/14, Jayesh, R.B. Mehta Marg, Ghatkopar (East), Mumbai – 400077, Maharashtra, India |
|
Date of Birth/Age : |
28.09.1969 |
|
Date of Appointment : |
12.06.1999 |
|
DIN No.: |
00400466 |
|
PAN No.: |
AAHPS4343K |
MAJOR SHAREHOLDERS
AS ON 31.03.2015
SHAREHOLDERS DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
AS ON 28.06.2014
|
Category |
Percentage |
|
Bodies corporate |
8.00 |
|
Directors or relatives of Directors |
72.83 |
|
Other top fifty (50) shareholders (other than listed above) |
19.17 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of MITC TMT, Mild Steel and Alloy, Rounds and Billets, ISI
Approved Fine Quality of Iron and Steel, Alloy Casting, Specialists in Heavy
Castings. [Registered
Activity] |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
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Exports : |
Not Divulged |
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|
|
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Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Not Divulged |
|
|
|
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS – (AS ON 31.03.2014)
|
PARTICULARS |
PRODUCTION |
|
Finished Products
(in MT) |
|
|
TMT |
109934.836 |
|
C.I. Casting |
1823.971 |
|
Core Box Making (NO.) |
5.000 |
|
MISS Roll |
1356.630 |
|
Runner Riser |
609.610 |
|
Billet End Cut Semi Finished |
2365.900 |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Auditors : |
|
|
Name : |
Sumaria and Sumaria Chartered Accountants |
|
Address : |
1, Mulund Vaibhav Zaver Cross Road, Adjecent To Railway Station, Mulund (West), Mumbai - 400080, Maharashtra, India |
|
PAN No.: |
AAZFS7438M |
|
|
|
|
Memberships : |
Not Divulged |
|
|
|
|
Collaborators : |
Not Divulged |
|
|
|
|
Group Company (As
on 31.03.2014) : |
Anchal Distributors Private Limited |
CAPITAL STRUCTURE
AFTER 21.09.2015
Authorised Capital: Rs.
31.500 Million
Issued, Subscribed & Paid-up Capital: Rs. 23.036 Million
AS ON 21.09.2015
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2600000 |
Equity Shares |
Rs.10/- each |
Rs. 26.000 Million |
|
36270 |
Preference Shares |
Rs.10/- each |
Rs. 0.363 Million |
|
|
|
|
|
|
|
Total |
|
Rs.26.363
Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2305631 |
Equity Shares |
Rs.10/- each |
Rs. 23.056 Million |
|
|
|
|
|
AS ON 31.03.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2600000 |
Equity Shares |
Rs.10/- each |
Rs. 26.000 Million |
|
36270 |
Preference Shares |
Rs.10/- each |
Rs. 0.363 Million |
|
|
|
|
|
|
|
Total |
|
Rs.26.363
Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2303631 |
Equity Shares |
Rs.10/- each |
Rs. 23.036 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 |
23.036 |
23.036 |
23.036 |
|
(b) Reserves & Surplus |
415.952 |
371.586 |
333.739 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.363 |
0.363 |
0.363 |
|
Total
Shareholders’ Funds (1) + (2) |
439.351 |
394.985 |
357.138 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
561.219 |
461.983 |
499.071 |
|
(b) Deferred tax liabilities (Net) |
43.771 |
41.255 |
37.927 |
|
(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) |
604.990 |
503.238 |
536.998 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
439.382 |
404.254 |
189.662 |
|
(b) Trade
payables |
266.751 |
131.357 |
91.736 |
|
(c) Other
current liabilities |
57.617 |
69.056 |
272.280 |
|
(d) Short-term provisions |
11.726 |
10.300 |
0.000 |
|
Total Current
Liabilities (4) |
775.476 |
614.967 |
553.678 |
|
|
|
|
|
|
TOTAL |
1819.817 |
1513.190 |
1447.814 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
461.947 |
485.312 |
514.643 |
|
(ii)
Intangible Assets |
2.301 |
2.301 |
2.301 |
|
(iii)
Capital work-in-progress |
223.969 |
162.877 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
2.365 |
4.555 |
4.370 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
4.571 |
6.763 |
9.080 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
695.153 |
661.808 |
530.394 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
467.001 |
215.898 |
210.603 |
|
(c) Trade
receivables |
594.404 |
509.296 |
650.302 |
|
(d) Cash and
cash equivalents |
20.111 |
95.131 |
7.748 |
|
(e)
Short-term loans and advances |
23.176 |
18.936 |
23.656 |
|
(f) Other
current assets |
19.972 |
12.121 |
25.111 |
|
Total
Current Assets |
1124.664 |
851.382 |
917.420 |
|
|
|
|
|
|
TOTAL |
1819.817 |
1513.190 |
1447.814 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
||
|
|
SALES |
|
|
|
||
|
|
|
Turnover |
5746.600 |
5158.500 |
4520.000 |
|
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
NA |
NA |
NA |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX |
58.608 |
NA |
NA |
||
|
|
|
|
|
|
||
|
Less |
TAX |
14.242 |
NA |
NA |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX |
44.366 |
37.847 |
25.835 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
124.180 |
NA |
839.385 |
|
|
|
|
Stores & component |
0.250 |
NA |
1.242 |
|
|
|
TOTAL IMPORTS |
124.430 |
NA |
840.627 |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
19.26 |
-- |
-- |
||
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 flow from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Turnover |
(%) |
0.77 |
0.73 |
0.57 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
3.68 |
NA |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13 |
NA |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.28 |
2.19 |
1.93 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.45 |
1.38 |
1.66 |
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 |
23.036 |
23.036 |
23.036 |
|
Reserves & Surplus |
333.739 |
371.586 |
415.952 |
|
Share Application money pending
allotment |
0.363 |
0.363 |
0.363 |
|
Net
worth |
357.138 |
394.985 |
439.351 |
|
|
|
|
|
|
long-term borrowings |
499.071 |
461.983 |
561.219 |
|
Short term borrowings |
189.662 |
404.254 |
439.382 |
|
Total
borrowings |
688.733 |
866.237 |
1000.601 |
|
Debt/Equity
ratio |
1.928 |
2.193 |
2.277 |
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 |
|
Turnover |
4520.000 |
5158.500 |
5746.600 |
|
|
|
14.126 |
11.401 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Turnover |
4520.000 |
5158.500 |
5746.600 |
|
Profit |
25.835 |
37.847 |
44.366 |
|
|
0.57% |
0.73% |
0.77% |
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 |
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) |
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 |
No |
|
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 |
RESULTS OF OPERATIONS:
This year marks the Twenty Ninth Year of the Company. It is noteworthy to state that this is the 29th consecutive year in which the Company has shown positive results. The Turn Over of the Company has jumped from 5158.500 million to 5746.600 million this year. This is the highest Turn Over achieved by the Company till date. For the next year, the Company hopes to maintain year on year growth on Sales.
The Company has also achieved profit of more than 58.600 million and a cash profit of more than 90.000 million. With this, the Company’s accumulated reserves have grown to more than 240.000 million. The Company has embarked on ambitious growth plan in which it is aiming to introduce new technologies. All divisions of the Company, viz. Melting, Rolling as well as Casting have grown and contributed towards this growth.
FUTURE EXPANSION:
The company’s scheme for expansion of the unit at Nasik is in progress as planned and Company’s banker have sanctioned long term loans for meeting the funds requirement. It will definitely move the Company to higher Turn Over, higher Profits and resulting better scenario.
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
Long Term Borrowings |
|
|
|
Rupee term loans from others |
144.564 |
141.389 |
|
Deposits |
333.183 |
277.390 |
|
Loans and advances from related parties |
83.472 |
43.204 |
|
|
|
|
|
Short Term Borrowings |
|
|
|
Borrowing from government semi-government bodies |
390.558 |
351.450 |
|
|
|
|
|
Total |
951.777 |
813.433 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90223230 |
26/04/2003 * |
9,500,000.00 |
CANARA BANK |
GHATKOPAR EAST, BOMBAY, MAHARASHTRA - 400077, INDIA |
- |
|
2 |
80008597 |
24/09/2014 * |
870,000,000.00 |
CANARA BANK |
BRANCH: 77, PRABHA, R B MEHTA ROAD, GHATKOPAR - E, MUMBAI, MAHARASHTRA - 400077, INDIA |
C34355206 |
|
3 |
90226297 |
23/05/2000 |
700,000.00 |
CANARA BANK |
GHATKOPAR EAST, MUMBAI, MAHARASHTRA, INDIA |
- |
|
4 |
80008594 |
17/08/2006 * |
70,000,000.00 |
THE CANARA BANK LTD |
77,
PRABHA, RATILAL B. MEHTA MARG,, GHATKOPAR(E), |
- |
|
5 |
90240167 |
12/02/1994 * |
2,000,000.00 |
CANARA BANK |
GHATKOPAR EAST, BOMBAY, MAHARASHTRA - 400077, INDIA |
- |
|
6 |
90222424 |
22/12/1994 |
27,500,000.00 |
CANARA BANK |
GHATKOPAR EAST BRANCH, BOMBAY, MAHARASHTRA - 400077, INDIA |
- |
|
7 |
90222342 |
03/06/1994 |
12,500,000.00 |
CANARA BANK |
GHATKOPAR EAST, BOMBAY, MAHARASHTRA - 400077, INDIA |
- |
|
8 |
90222290 |
12/02/1994 |
7,500,000.00 |
CANARA BANK |
GHATKOPAR EAST, BOMBAY, MAHARASHTRA - 400077, INDIA |
- |
|
9 |
90239858 |
12/02/1994 * |
5,000,000.00 |
CANARA BANK |
GHATKOPAR EAST, BOMBAY, MAHARASHTRA - 400077, INDIA |
- |
|
10 |
90222229 |
14/06/1995 * |
5,000,000.00 |
CANARA BANK |
GHATKOPAR EAST, BOMBAY, MAHARASHTRA - 400077, INDIA |
- |
|
11 |
90241996 |
16/09/1993 |
5,000,000.00 |
CANARA BANK |
GHATKOPAR EAST, BOMBAY, MAHARASHTRA - 400077, INDIA |
- |
|
12 |
90239844 |
06/08/1993 |
10,000,000.00 |
CANARA BANK |
GHATKOPAR EAST, BOMBAY, MAHARASHTRA - 400077, INDIA |
- |
|
13 |
90221571 |
25/09/1989 * |
16,000,000.00 |
CANARA BANK |
GHATKOPAR EAST, BOMBAY, MAHARASHTRA - 400077, INDIA |
- |
|
14 |
90221240 |
14/06/1995 * |
2,000,000.00 |
CANARA BANK |
GHATKOPAR EAST BRANCH, BOMBAY, MAHARASHTRA - 400077, INDIA |
- |
|
15 |
90223849 |
26/04/2003 * |
2,000,000.00 |
CANARA BANK |
GHATKOPAR EAST, BOMBAY, MAHARASHTRA - 400077, INDIA |
- |
|
16 |
90221015 |
06/03/1983 |
10,000,000.00 |
CANARA BANK |
GHATKOPAR EAST BRANCH, BOMBAY, MAHARASHTRA - 400077, INDIA |
- |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
Vehicles
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 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.66.99 |
|
|
1 |
Rs.101.78 |
|
Euro |
1 |
Rs.73.47 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
NKT |
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 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--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 |
|
43 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment record
(10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NB |
NEW BUSINESS |
||
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.