MIRA INFORM REPORT

 

 

Report No. :

355638

Report Date :

19.12.2015

 

IDENTIFICATION DETAILS

 

Name :

CHHABRA ISPAT PRIVATE LIMITED

 

 

Registered Office :

33/1, Netaji Subhas Road, 1st Floor, Room No.174, Kolkata – 700 001, West Bengal

Tel. No.:

91-33-22311611

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

20.12.2005

 

 

Com. Reg. No.:

21-106751

 

 

Capital Investment / Paid-up Capital :

Rs.109.033 million

 

 

CIN No.:

[Company Identification No.]

U27109WB2005PTC106751

 

 

IEC No.:

Not Divulged

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

CALC05696F

 

 

PAN No.:

[Permanent Account No.]

AACCC8056F

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer of Mild Steel Billets. (Registered Activity)

 

 

No. of Employees :

Information declined by the Management.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (41)

 

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 was incorporated in 2005 and it is the manufacturer and supplier of Minerals and M.S. Billets. It is an established company having satisfactory track.

 

For the financial year ended 2014, the company’s sales turnover has been declined 3% against previous year record which further led to dip in net profit of the company.

 

However, rating reflects company’s above average financial risk profile supported by good networth base and low debt balance sheet profile of the company.

 

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

 

In view of aforesaid, the company can be considered for business dealings at usual trade terms and conditions.

 

NOTES :

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

 

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 Rating: B+ (Suspended)

Rating Explanation

Risk prone credit quality and carries very high credit risk.

Date

06.12.2014

 

 

Rating Agency Name

CRISIL

Rating

Short-Term Rating: A4 (Suspended)

Rating Explanation

Minimal degree of safety and very high credit risk.

Date

06.12.2014

 

Reason for 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 DECLINED BY

 

Name :

Mr. Duggar

Designation :

Accounts Department

Contact No.:

91-33-22821322

Date :

17.12.2015

 

 

LOCATIONS

 

Registered Office :

33/1, Netaji Subhas Road, 1st Floor, Room No.174, Kolkata – 700 001, West Bengal, India

Tel. No.:

91-33-22311611/ 22821322/ 22317525

Fax No.:

91-33-40681169

E-Mail :

chhabraispat@gmail.com

 

 

Corporate Office :

Camac Court, 25B, Camac Street, 6th Floor, Flat No.6A, Kolkata-700016, West Bengal, India  

Tel. No.:

91-33-22821322

Fax No.:

91-33-40681169

 

Factory :

Village Nakrajoria, P.S. Salanpur, District Burdwan – 713 101, West Bengal, India

Tel No.:

91-341-2532978

 

 

DIRECTORS

 

AS ON 31.03.2015

 

Name :

Mr. Saurav Jain

Designation :

Director

Address :

35-A, Ballygunge Park, Tirumala Apartment, 6th Floor, Flat No.6A, Kolkata – 700 019, West Bengal, India

Date of Birth/Age :

16.10.1981

Date of Appointment :

20.12.2005

DIN No.:

00573228

PAN No.:

AENPJ2410G

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

U51101WB2005PTC102170

BAGHBAAN AGENCIES PRIVATE LIMITED

Director

07/11/2005

07/11/2005

-

Active

NO

2

U27109WB2005PTC106751

CHHABRA ISPAT PRIVATE LIMITED

Director

20/12/2005

20/12/2005

-

Active

NO

3

U51109WB2005PTC102164

NEPTUNE DISTRIBUTORS PRIVATE LIMITED

Director

13/01/2006

13/01/2006

-

Active

NO

4

U51109WB2007PTC117702

GLORY BARTER PRIVATE LIMITED

Director

28/09/2007

28/09/2007

12/12/2008

Strike off

NO

5

U27100WB2009PTC139207

VINITA STEEL TRADE PRIVATE LIMITED

Director

06/11/2009

06/11/2009

-

Active

NO

 

 

Name :

Mr. Surendra Kumar Jain

Designation :

Director

Address :

35-A, Ballygunge Park, Tirumala Apartment, 6th Floor, Flat No.6A, Kolkata – 700 019, West Bengal, India

Date of Birth/Age :

07.11.1952

Date of Appointment :

20.12.2005

DIN No.:

00573246

PAN No.:

ACRPJ8808J

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

U51101WB2005PTC102170

BAGHBAAN AGENCIES PRIVATE LIMITED

Director

07/11/2005

07/11/2005

03/12/2012

Active

NO

2

U27109WB2005PTC106751

CHHABRA ISPAT PRIVATE LIMITED

Director

20/12/2005

20/12/2005

-

Active

NO

3

U51109WB2007PTC117703

ACTION DISTRIBUTORS PRIVATE LIMITED

Director

22/11/2007

22/11/2007

07/05/2009

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. Duggar

Designation :

Accounts Department

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

 

 

No. of Shares

Surendra Kumar Jain

 

657850

Saurav Jain

 

239000

Baghbaan Agencies Private Limited, India

 

1228976

Neptune Distributors Private Limited, India

 

747457

Apsara Trex Private Limited, India

 

100000

Prefer Merchants Private Limited, India

 

150000

Jalsagar Dealers Private Limited, India

 

350000

Ventex Trade Private Limited, India

 

100000

Genuine Suppliers Private Limited, India

 

100000

DTC Impex Private Limited, India

 

50000

GVS vinyog Private Limited, India

 

130000

Dheer Merchants Private Limited, India

 

70000

Enarzier Commerce Private Limited, India

 

275000

Impex Infotech Limited, India

 

50000

Raj Kavira Mercantile Private Limited, India

 

300000

Apsara Dealcom Private Limited, India

 

150000

Dabriwal Investment and Financiers Private Limited, India

 

25000

Vinita Steel Trade Private Limited, India

 

5082500

Kirteshwari Vintrade Private Limited, India

 

400000

Malcom Sales Private Limited, India

 

197500

Safalta Vinimay Private Limited, India

 

325000

Bonus Dealcom Private Limited, India

 

50000

Nabratna Vinimay Private Limited, India

 

75000

Nawab Vyapaar Private Limited, India

 

50000

Total

 

10903283

 

 

AS ON 30.09.2014

 

Equity Share Breakup

 

Percentage of Holding

Category

 

 

Bodies corporate

 

91.77

Directors or relatives of directors

 

8.23

Total

 

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Mild Steel Billets. (Registered Activity)

 

 

Products :

Item Code No.

 

Product Description

7224 90 91

Billets

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Not Divulged

 

 

Purchasing :

Not Divulged

 

PRODUCTION STATUS (AS ON 31.03.2014):

 

Particulars

Actual Production

M.S. Billets

40,289.200 MT

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Payment Behaviour

Market Goodwill

Overall

Not Divulged

Not Divulged

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Product Quality

Delivery Behaviour

Overall

Not Divulged

Not Divulged

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

Information declined by the Management.

 

 

Bankers :

Banker Name

Union Bank of India

Branch Address

Ezra Street Branch, Ezra Street Branch, Kolkata, West Bengal, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

301505060000104

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

  • UCO Bank
  • ICICI Bank Limited
  • Bank of Baroda

 

 

Facilities :

Secured Loans

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

LONG-TERM BORROWINGS

 

 

Term loans from banks

[Term Loans from Union Bank of India (Lead Bank) and Bank of Baroda (Consortium Member Bank) are secured by 1st pari-passu charge on fixed assets by way of equitable mortgage of the land and building/shed along with hypothecation of all movable and immovable plant and machinery and other fixed assets thereon at Nakarjoria, P.S. Salanpur, West Bengal and collaterally secured by way of extension of charge on company's Current assets. The Term loans from Union Bank of India(Lead Bank) and Bank of Baroda(Consortium Member Bank) are also secured by Personal guarantees of two Directors and their relatives, three Sharehlolders and Corporate Guarantees by Baghbaan Agencies (Private) Limited, Neptune Distributors (Private) Limited and Vinita Steel Trade Private Limited.]

13.943

38.677

SHORT-TERM BORROWINGS

 

 

Working capital loans from banks

(Working Capital Loans from Union Bank of India and Bank of Baroda are jointly secured by Hypothecation of all current assets on 1st pari-passu basis and 2nd parri passu charge by way of extension of charge on entire fixed assets land and building/shed along with all movable and immovable plant and machinery and other fixed assets thereon at Nakarjoria, P.S. Salanpur, West Bengal. Loan is also secured by Personal guarantee and their personal assets of Promoter Directors.)

107.468

142.293

Total

121.411

180.970

 

 

 

Auditors :

 

Name :

R.K. Patodi and Company

Chartered Accountants

Address :

2, Church Lane, Suite No.404A, 4th Floor, Kolkata – 700 001, West Bengal, India

Tel. No.:

91-33-2203160/ 22430913

Fax No.:

91-33-2243014

E-Mail :

rkpatodi@hotmail.com

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

AACFR8036M

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates :

Vinita Steel Trade Private Limited, India (CIN No.: U27100WB2009PTC139207)

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

15000000

Equity Shares

Rs.10/- each

Rs.150.000 million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

10903283

Equity Shares

Rs.10/- each

Rs.109.033 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

109.033

74.233

74.232

(b) Reserves & Surplus

130.624

84.982

69.154

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

40.450

22.000

Total Shareholders’ Funds (1) + (2)

239.657

199.665

165.386

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

23.349

48.908

71.356

(b) Deferred tax liabilities (Net)

13.166

11.423

8.495

(c) Other long term liabilities

70.507

0.000

0.000

(d) Long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

107.022

60.331

79.851

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

107.468

142.293

122.978

(b) Trade payables

308.733

316.865

367.092

(c) Other current liabilities

22.311

20.577

20.745

(d) Short-term provisions

7.283

9.670

6.875

Total Current Liabilities (4)

445.795

489.405

517.690

 

 

 

 

TOTAL

792.474

749.401

762.927

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

134.321

141.194

147.700

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

0.851

0.851

0.851

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

1.145

0.833

0.833

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

0.024

0.324

0.323

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

136.341

143.202

149.707

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

394.573

296.738

281.799

(c) Trade receivables

158.767

210.151

250.255

(d) Cash and cash equivalents

20.784

20.582

11.059

(e) Short-term loans and advances

72.268

68.987

56.459

(f) Other current assets

9.741

9.741

13.648

Total Current Assets

656.133

606.199

613.220

 

 

 

 

TOTAL

792.474

749.401

762.927

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Revenue from Operation (Net)

1586.744

1639.911

1304.370

 

 

Other Income

43.719

49.242

85.956

 

 

TOTAL                                    

1630.463

1689.153

1390.326

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                    

1577.515

1628.721

1333.157

 

 

 

 

 

Less

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

52.948

60.432

57.169

 

 

 

 

 

Less

FINANCIAL EXPENSES                                   

30.474

32.987

32.510

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

22.474

27.445

24.659

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

7.087

7.059

7.049

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX

15.387

20.386

17.610

 

 

 

 

 

Less

TAX                                                                 

4.546

4.558

3.665

 

 

 

 

 

 

PROFIT/ (LOSS) AFTER TAX

10.841

15.828

13.945

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

47.184

31.356

17.411

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

58.025

47.184

31.356

 

 

 

 

 

 

Earnings/ (Loss) Per Share (Rs.)

0.99

2.13

1.88

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current maturities of long-term debt

22.200

18.200

18.495

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

(4.995)

30.746

10.463

Net cash flows from (used in) operating activities

(9.775)

26.540

13.609

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

0.68

0.97

1.07

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

3.34

3.69

4.38

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

1.95

2.73

2.31

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.06

0.10

0.11

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.64

1.05

1.29

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.47

1.24

1.18

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particulars

31.03.2012

31.03.2013

31.03.2014

 

Rs. In Million

Rs. In Million

Rs. In Million

Share Capital

74.232

74.233

109.033

Reserves & Surplus

69.154

84.982

130.624

Share Application money pending allotment

22.000

40.450

0.000

Net worth

165.386

199.665

239.657

 

 

 

 

Long-term borrowings

71.356

48.908

23.349

Short term borrowings

122.978

142.293

107.468

Current Maturities of Long term debt

18.495

18.200

22.200

Total borrowings

212.829

209.401

153.017

Debt/Equity ratio

1.287

1.049

0.638

 

 

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

Revenue from Operation (Net)

1304.370

1639.911

1586.744

 

 

25.724

-3.242

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

Rs. In Million

Rs. In Million

Rs. In Million

Revenue from Operation (Net)

1304.370

1639.911

1586.744

Profit

13.945

15.828

10.841

 

1.07%

0.97%

0.68%

 

 

 

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)

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

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

Yes

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

FINANCIAL AND OPERATIONAL REVIEW:

 

During the year the company has achieved net sales/income from operation of Rs.1586.744 million as against Rs.1639.911 million in the previous year. The Company has produced 40,289.200 MT of M.S. Billets as compared to 33,090.880 MT in the previous year registering a growth of 21.75%.

 

CHANGE IN SHARE CAPITAL:

 

During the year, the Company has allotted 3480000 Equity Share of Rs.10/- each at a premium of Rs.10/- per share aggregating to Rs.34.800 million to the entities belonging to Promoter Group and Strategic Investors belonging to Non Promoter Group.

 

Consequently to said allotment, the paid up Share Capital of the Company stood increased to Rs.109.033 million. The entire proceeds received from preferential allotment have been utilised towards the object of the issue.

 

UNSECURED LOAN

 

Particulars

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

LONG-TERM BORROWINGS

 

 

Rupee term loans from others

8.956

9.781

Loans and advances from others

0.450

0.450

Total

9.406

10.231

 

INDEX OF CHARGES:

 

S. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

ADDRESS

Service Request Number (SRN)

1

10331030

29/12/2011

35,000,000.00

UNION BANK OF INDIA

EZRA STREET BRANCH, 55/58, EZRA STREET, KOLKATA, 
WEST BENGAL - 700001, INDIA

B30328801

2

10288955

19/05/2011

133,499,000.00

BANK OF BARODA

BRABOURNE ROAD BRANCH, 4, BRABOURNE ROAD, KOLKATA, WEST BENGAL - 700001, INDIA

B13766340

3

10258578

05/12/2012 *

324,000,000.00

UNION BANK OF INDIA

EZRA STREET BRANCH, 55/58, EZRA STREET, KOLKATA, 
WEST BENGAL - 700001, INDIA

B64064009

4

10083647

03/03/2010 *

90,227,000.00

BANK OF BARODA

C. R. AVENUE (SOUTH) BRANCH, 33, C. R. AVENUE BRANCH, KOLKATA, WEST BENGAL - 700012, INDIA

A83928044

5

10073887

18/03/2011 *

155,000,000.00

UNION BANK OF INDIA

EZRA STREET BRANCH, 55/58, EZRA STREET, KOLKATA, WEST BENGAL - 700001, INDIA

B10127033

 

* Date of charge modification

 

 

FIXED ASSETS:

 

·         Buildings

·         Plant and Equipments

·         Furniture and Fixtures         

·         Vehicles

·         Computer Equipments

·         Office Equipments

 

 

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.67.04

UK Pound

1

Rs.101.67

Euro

1

Rs.73.93                     

 

 

INFORMATION DETAILS

 

Information Gathered by :

SVA

 

 

Analysis Done by :

HNA

 

 

Report Prepared by :

JYTK

 

 

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

4

--RESERVES

1~10

5

--CREDIT LINES

1~10

4

--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

 

41

 

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.