MIRA INFORM REPORT

 

 

Report No. :

355617

Report Date :

17.12.2015

 

IDENTIFICATION DETAILS

 

Name :

AUROCHEM PHARMACEUTICALS (INDIA) PRIVATE LIMITED

 

 

Registered Office :

334, 3rd Floor, Gundecha Industrial Complex, Akruli Road, Kandivali (East), Mumbai – 400101, Maharashtra

Tel. No.:

91-22-28858503/ 4/ 5

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

21.11.1994

 

 

Com. Reg. No.:

11-083100

 

 

Capital Investment / Paid-up Capital :

Rs. 1.526 million

 

 

CIN No.:

[Company Identification No.]

U24230MH1994PTC083100

 

 

IEC No.:

0397082886

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAACA9690D

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer, Exporter and Importer of Pharmaceutical Formulations. (Confirmed by Management)

 

 

No. of Employees :

150 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (45)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Maximum Credit Limit :

USD 358000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Exist

 

 

Comments :

Subject was incorporated in the year 1994 having satisfactory track.

 

As per Registrar of Companies the date of balance sheet (i.e. financial filed) is shown as 31.03.2015 but documents related are not available from any sources.

 

For the FY 14, the company has reported satisfactory profit which has improved as compared to previous year.

 

The company possesses adequate net worth base marked by low borrowings and favourable gap between trade payables and receivables.

 

Trade relations are fair. Business is active. Payments are usually 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 PARTED BY (GENERAL DETAILS)

 

Name :

Mr. Sanjay

Designation :

Account Department

Contact No.:

91-22-42508130

Date :

16.12.2015

 

LOCATIONS

 

Registered Office :

334, 3rd Floor, Gundecha Industrial Complex, Akruli Road, Kandivali (East), Mumbai – 400101, Maharashtra, India

Tel. No.:

91-22-28858503/ 4/ 5/ 42508181 (100 Lines)

Fax No.:

91-22-28873236

E-Mail :

info@aurochemgroup.com

Website:

http://www.aurochemlaboratories.com

 

 

Factory :

58, PalgharTaluka Industrial Co-Operative Estate Limited Palghar, District Thane – 401404, Maharashtra, India

Tel. No.:

91-2525-252332/ 4720

E-mail:

aurochemfactory@yahoo.com

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Piyush Mansukhlal Shah

Designation :

Director

Address :

Matru Aashish Chandavarkar Road, Borivali (West), Mumbai - 400092, Maharashtra, India

Date of Birth/Age :

25.05.1961

Date of Appointment :

21.11.1994

DIN No.:

01564261

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

Company/ LLP Status

Defaulting status

1

U24230MH1994PTC083100

AUROCHEM PHARMACEUTICALS (INDIA) PRIVATE LIMITED

Director

21/11/1994

21/11/1994

Active

NO

2

U24230MH1997PTC112098

AUROCHEM LABORATORIES (INDIA) PRIVATE LIMITED

Director

26/11/1997

26/11/1997

Active

NO

3

U74140HR2011PTC042644

LA PRISTINE BIOCEUTICALS PRIVATE LIMITED

Additional director

11/06/2015

11/06/2015

Active

NO

 

 

Name :

Mr. Mahesh Mansukhlal Shah

Designation :

Director

Address :

C/701, Pleasant Palace, Sodawala Lane, Borivali (West), Mumbai - 400092, Maharashtra, India

Date of Birth/Age :

11.06.1956

Date of Appointment :

21.11.1994

DIN No.:

01561122

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

Company/ LLP Status

Defaulting status

1

U24230MH1994PTC083100

AUROCHEM PHARMACEUTICALS (INDIA) PRIVATE LIMITED

Director

21/11/1994

21/11/1994

Active

NO

2

U24230MH1997PTC112098

AUROCHEM LABORATORIES (INDIA) PRIVATE LIMITED

Director

26/11/1997

26/11/1997

Active

NO

3

U74140HR2011PTC042644

LA PRISTINE BIOCEUTICALS PRIVATE LIMITED

Additional director

11/06/2015

11/06/2015

Active

NO

 

 

Name :

Mr. Pravin Bhikhabhai Desai

Designation :

Director

Address :

C 201/202 Raghuvanshi Apartment, Chandavarkar Lane, Borivali (West), Mumbai -400092, Maharashtra, India

Date of Birth/Age :

25.04.1945

Date of Appointment :

21.11.1994

DIN No.:

00532869

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

Company/ LLP Status

Defaulting status

1

U24230MH1994PTC083100

AUROCHEM PHARMACEUTICALS (INDIA) PRIVATE LIMITED

Director

21/11/1994

21/11/1994

Active

NO

2

U24230MH1997PTC112098

AUROCHEM LABORATORIES (INDIA) PRIVATE LIMITED

Director

26/11/1997

26/11/1997

Active

NO

3

U74140HR2011PTC042644

LA PRISTINE BIOCEUTICALS PRIVATE LIMITED

Additional director

11/06/2015

11/06/2015

Active

NO

 

 

Name :

Mr. Himanshu Pravin Desai

Designation :

Director

Address :

C/201-202, Raghuvanshi Apartment,, Chandavarkar Lane,Near Mandvi Bank, Borivali (West), Mumbai - 400092, Maharashtra, India

Date of Birth/Age :

10.06.1978

Date of Appointment :

08.02.2014

DIN No.:

06813499

 

 

Name :

Mr. Nilay Piyush Shah

Designation :

Additional Director

Address :

C-74, Santwani, Shanti Ashram Cross Road, Lic Colony, Borivali (West), Mumbai - 400092, Maharashtra, India

Date of Appointment :

01.04.2015

DIN No.:

05301832

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

Company/ LLP Status

Defaulting status

1

U24230MH1994PTC083100

AUROCHEM PHARMACEUTICALS (INDIA) PRIVATE LIMITED

Additional director

01/04/2015

01/04/2015

Active

NO

2

U24230MH1997PTC112098

AUROCHEM LABORATORIES (INDIA) PRIVATE LIMITED

Additional director

01/04/2015

01/04/2015

Active

NO

 

Name :

Mr. Pallav Mahesh Shah

Designation :

Additional Director

Address :

C-701, Pleasant Palace, Sodawala Lane, Borivali (West), Mumbai - 400092, Maharashtra, India

Date of Appointment :

01.04.2015

DIN No.:

05303168

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

Company/ LLP Status

Defaulting status

1

U85190MH2011PTC215616

GLOPHARM LABORATORIES PRIVATE LIMITED

Director

01/04/2012

01/04/2012

Active

NO

2

U24230MH1994PTC083100

AUROCHEM PHARMACEUTICALS (INDIA) PRIVATE LIMITED

Additional director

01/04/2015

01/04/2015

Active

NO

3

U24230MH1997PTC112098

AUROCHEM LABORATORIES (INDIA) PRIVATE LIMITED

Additional director

01/04/2015

01/04/2015

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. Sanjay

Designation :

Account Department

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 31.03.2015

 

Names of Shareholders

No. of Shares

 

Pravin B. Desai

6640

Mahesh M. Shah

1453

Piyush M. Shah

2106

Millian P. Shah

1970

Usha P. Desai

1000

Priti M. Shah

1000

Vijayaben M. shah

1000

Nisha P. Shah

10

Charu R. Shah

10

R. M. shah

10

Upendra N. Shah

10

Chetna Vora

10

Tejas U. Shah

10

Sarla U. Shah

1

Udai Bhayani

10

Pallav M. Shah

10

Mansukhlal C. Shah – HUF

1

Viral V. Vora

1

Falguni M. Shah

1

Manoj Shah

1

Mahesh Shah – HUF

1

R. M. Shah – HUF

1

Upendra M. Shah – HUF

1

Piyush M. Shah – HUF

1

Nilay P. Shah

1

Hetal M. Shah

1

 

 

Total

 

15260

 

 

AS ON 30.09.2014

 

Equity Share Breakup

Percentage of Holding

Category

 

Directors or relatives of directors

100.00

 

 

Total

 

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer, Exporter and Importer of Pharmaceutical Formulations. (Confirmed by Management)

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

 

Products :

Finished Goods

Countries :

·         Tanzania

·         Cuba

·         Panama

 

 

Imports :

 

Products :

Raw Material

Countries :

China

 

 

Terms :

 

Selling :

Cash, L/C and Credit

 

 

Purchasing :

Cash, L/C and Credit

 

 

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 :

Wholesalers and Retailers

 

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 :

150 (Approximately)

 

 

Bankers :

Bank Name:

Citi Bank

Branch:

Fort, Mumbai, Maharashtra, India

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

 

·         State Bank of India

MIDC, Andheri (East), Mumbai, Maharashtra, India

 

·         Citi Bank N. A.

First International Financial Centre, 9th Floor, Plot No. C-54 and 55, G-Block, BKC Bandra (East), Mumbai – 400051, Maharashtra, India

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Export packing credit

7.584

0.000

Cash credit account

13.366

0.000

 

 

 

Total

 

20.950

0.000

 

Auditors :

 

Name :

Hemant Vyas and Associates

Chartered Accountants

Address :

C-18,Madhu Rokadia Cross Lane, Mumbai – 400092, Maharashtra, India

Tel. No.:

91-22-28931088

Mobile No.:

91-9819642223

E-Mail :

Hemant_vyas81@yahoo.co

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

AAAPV7372C

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Sister Concern :

Aurochem Laboratories Private Limited

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

25,000

Equity Shares

Rs. 100/- each

Rs. 2.500 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

15,260

Equity Shares

Rs. 100/- each

Rs. 1.526 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

1.526

1.526

1.526

(b) Reserves & Surplus

123.662

92.346

82.271

(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)

125.188

93.872

83.797

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

56.081

31.051

25.156

(b) Deferred tax liabilities (Net)

6.374

6.177

6.108

(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)

62.455

37.228

31.264

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

0.000

(b) Trade payables

65.487

38.763

21.466

(c) Other current liabilities

108.319

62.218

60.461

(d) Short-term provisions

0.000

0.000

0.000

Total Current Liabilities (4)

173.806

100.981

81.927

 

 

 

 

TOTAL

361.449

232.081

196.988

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

98.544

47.748

48.116

(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

0.000

(d)  Long-term Loan and Advances

0.000

0.000

0.000

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

98.544

47.748

48.116

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

45.693

42.087

47.921

(c) Trade receivables

120.337

80.779

50.029

(d) Cash and cash equivalents

1.999

10.286

15.125

(e) Short-term loans and advances

80.732

43.844

31.900

(f) Other current assets

14.144

7.337

3.897

Total Current Assets

262.905

184.333

148.872

 

 

 

 

TOTAL

361.449

232.081

196.988

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

TOTAL                                    

NA

NA

NA

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                    

NA

NA

NA

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

47.513

15.063

30.850

 

 

 

 

 

Less

TAX                                                                 

16.197

4.988

6.392

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

31.316

10.075

24.458

 

 

 

 

 

 

Earnings Per Share (Rs.)

2052.16

660.22

1602.75

 

 

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

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

13.15

6.49

15.66

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.38

0.16

0.37

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

0.45

0.33

0.30

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.51

1.83

1.82

 

 

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

1.526

1.526

1.526

Reserves & Surplus

82.271

92.346

123.662

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

83.797

93.872

125.188

 

 

 

 

Long-term borrowings

25.156

31.051

56.081

Short term borrowings

0.000

0.000

0.000

Total borrowings

25.156

31.051

56.081

Debt/Equity ratio

0.300

0.331

0.448

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report

(Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

Yes

16

No. of employees

Yes

17

Details of sister concerns

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

Yes

26

Turnover of firm for last three years

No

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

Yes

33

Market information

--

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

 

LITIGATIONS DETAILS

 

HIGH COURT OF BOMBAY

 

CASE DETAILS

BENCH: BOMBAY

Presentation date: 21.08.2015

LODGING NO: CPL/800/2015 FILING DATE: 21.08.2015 REG. NO.: CP/1249/2015 REG. DATE: 03.12.2015    

PETITIONER: M/S ROYAL AIRCON PRIVATE LIMITED   RESPONDENT: M/S AUROCHEM PHARMACEUTICALS

PETN. ADV.: DASHRATH SHRIDHAR HATLE (I3870)      RESP. ADV: 0 (0)

DISTRICT: MUMBAI

BENCH: SINGLE

STATUS: PRE-ADMISSION                  CATEGORY: COMPANY PETITION U/SEC 433,434,439                                                                                                       COMPANIES ACT

LAST DATE: 15.12.2015                       STAGE: FOR ACCEPTANCE

LAST CORAM: COMPANY REGISTRAR

 

ACT: Companies act and Rules 1956    UNDER SECTION: 433 (E), 434 AND 439        

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10513042

10/06/2014

50,000,000.00

CITI BANK N.A.

FIRST INTERNATIONAL FINANCIAL CENTRE, 9TH FLOOR, 
PLOT NO. C-54&55, G-BLOCK, BKC, BANDRA(EAST), MUMBAI 400051, MAHARASHTRA , INDIA

C15128523

 

 

UNSECURED LOANS

 

PARTICULARS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Directors

5.007

4.232

Members

28.236

23.712

Others

1.888

3.107

 

 

 

Total

 

35.131

31.051


FIXED ASSETS:

 

·         Plant and Machinery’s

·         Electrical Installation

·         Laboratories Equipment’s

·         Furniture and Fixtures

·         Office Equipment’s

·         Office Premises

·         Vehicle

·         Computer

 

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.66.85

UK Pound

1

Rs.100.58

Euro

1

Rs.73.16

 

 

INFORMATION DETAILS

 

Information Gathered by :

DIP

 

 

Analysis Done by :

AMR

 

 

Report Prepared by :

ARC

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILIRY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

6

--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

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

45

 

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.