MIRA INFORM REPORT

 

 

Report No. :

355466

Report Date :

28.12.2015

 

IDENTIFICATION DETAILS

 

Name :

SVARN TEX PRINTS PRIVATE LIMITED (w.e.f 10.12.2007)

 

 

Formerly Known As :

SVARN TELELINKS PRIVATE LIMITED

 

 

Registered Office :

34 G, Ashoka Avenue, Sainik Farms, New Delhi – 110062

Tel. No.:

91-129-4294200

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

16.04.2007

 

 

Com. Reg. No.:

55-162072

 

 

Capital Investment / Paid-up Capital :

Rs.47.300 Million

 

 

CIN No.:

[Company Identification No.]

U64204DL2007PTC162072

 

 

IEC No.:

0507077881

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAKCS7660R

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer, Exporter and Importer of Printed Fabric, Dyed Fabric. (Confirmed by management)

 

 

No. of Employees :

500 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (29)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in the year 2007 and is engaged in processing of fabrics in its facility based in Kosi, Uttar Pradesh. The company is a part of the Svarn Group, which has been promoted by Mr. Sadhu Ram Gupta, Mr. Vijay Gupta, Mr. Ajay Gupta and Mr. Suresh Singhal. The group has a presence in the manufacturing of passive telecom infrastructure components as well as processing of fabric.

 

The rating action takes into account the healthy year-on-year growth in company’s operating income on the back of increased order flow from its customers, primarily garment exporters, resulting in better utilisation of production facilities.

 

The ratings continue to derive comfort from the long standing experience of the promoters in the fabric processing industry and the company’s established customer base.

 

However, the ratings are constrained on account of the company’s high working capital intensity and its moderate, albeit improved relative to the previous year, debt protection indicators. The ratings also take into consideration the highly competitive and fragmented nature of the fabric processing industry.

 

However, trade relations are reported to be fair. Business is active. Payments are reported to be slow but correct.

 

The company can be considered for business dealings with some cautions.

 

Note:-

Management of the company has not filed its financial with the Government Department for the year 2015.

 

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

ICRA

Rating

Long term bank facilities = B+

Rating Explanation

Risk prone credit quality and carries very high credit risk.

Date

July, 2015

 

Rating Agency Name

ICRA

Rating

Short term bank facilities = A4

Rating Explanation

Minimal degree of safety and very high credit risk.

Date

July, 2015

 

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2015.

 

INFORMATION PARTED BY

 

Name :

Mr. Rakesh

Designation :

Finance Department

Contact No.:

91-129-4294200

Date :

24.12.2015

 

 

LOCATIONS

 

Registered Office :

34 G, Ashoka Avenue, Sainik Farms, New Delhi – 110062, India

Tel. No.:

Not Available

Fax No.:

Not Available

E-Mail :

finance@svarn.com

rakesh@svarn.com

Website :

www.svarntex.com

Location :

Rented

Locality :

Commercial

 

 

Factory :

D-25 and 26, Kosi Kotwan Industrial Area, Kosi Kalan – 281403, District Mathura, Uttar Pradesh, India

Tel. No.:

91-5662-293374 / 293375

E-Mail :

accounts@svarn.com

 

 

Corporate Office :

Plot No 1, Site No. 1, 14/3, Mathura Road, Faridabad – 121003, Haryana, India

Tel. No.:

91-129-4294200

Fax No.:

91-129-4113996

E-Mail :

sales@svarntex.com

 

 

DIRECTORS

 

As on 31.03.2015

 

Name :

Mr. Ajay Kumar Gupta

Designation :

Director

Address :

House No. 1266, Sector-15, Faridabad - 121007, Haryana, India

Date of Birth/Age :

06.02.1976

Date of Appointment :

16.04.2007

DIN No.:

01360804

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

U64204DL2007PTC162072

SVARN TEX PRINTS PRIVATE LIMITED

Director

16/04/2007

16/04/2007

-

Active

NO

2

U32109DL2008PLC173698

SVARN TELECOM LIMITED

Director

06/02/2008

06/02/2008

-

Active

NO

3

U32109DL2009PTC188400

SVARN INFRATEL PRIVATE LIMITED

Director

13/03/2009

13/03/2009

-

Active

NO

4

U45209DL2012PTC277998

Saavi Developers Private Limited

Director

09/07/2012

09/07/2012

01/09/2014

Active

NO

 

 

Name :

Mr. Vijay Kumar Gupta

Designation :

Director

Address :

House No. 1266, Sector-15, Faridabad - 121007, Haryana, India

Date of Birth/Age :

26.06.1975

Date of Appointment :

29.09.2008

DIN No.:

00044767

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

U28910DL2004PLC129444

SUNSTAR PRECISION FORGE LIMITED

Whole-time director

01/09/2007

27/09/2004

20/10/2008

Active

NO

2

U65923DL2006PTC149161

SADHUSONS INFOTECH PRIVATE LIMITED

Director

25/05/2006

25/05/2006

-

Active

NO

3

U64204DL2007PTC162072

SVARN TEX PRINTS PRIVATE LIMITED

Director

29/09/2008

15/12/2007

-

Active

NO

4

U32109DL2008PLC173698

SVARN TELECOM LIMITED

Director

06/02/2008

06/02/2008

-

Active

NO

5

U32109DL2009PTC188400

SVARN INFRATEL PRIVATE LIMITED

Director

13/03/2009

13/03/2009

-

Active

NO

 

 

Name :

Mr. Sadhu Ram Gupta

Designation :

Additional Director

Address :

House No. 1266, Sector-15, Faridabad - 121007, Haryana, India

Date of Birth/Age :

26.06.1945

Date of Appointment :

15.12.2010

DIN No.:

00042352

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

U74899DL1978PLC009164

SADHU FORGING LIMITED

Whole-time director

01/04/2010

05/08/1978

-

Active

NO

2

U28910DL2004PLC129444

SUNSTAR PRECISION FORGE LIMITED

Director

04/07/2005

04/07/2005

18/08/2008

Active

NO

3

U65923DL2006PTC149161

SADHUSONS INFOTECH PRIVATE LIMITED

Director

25/05/2006

25/05/2006

-

Active

NO

4

U32109DL2008PLC173698

SVARN TELECOM LIMITED

Director

06/02/2008

06/02/2008

-

Active

NO

5

U32109DL2009PTC188400

SVARN INFRATEL PRIVATE LIMITED

Additional director

02/12/2010

02/12/2010

-

Active

NO

6

U64204DL2007PTC162072

SVARN TEX PRINTS PRIVATE LIMITED

Additional director

15/12/2010

15/12/2010

-

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. Rakesh

Designation :

Finance Department

 

MAJOR SHAREHOLDERS

 

As on 30.09.2014

 

SHAREHOLDERS DETAIL FILE ATTACH

 

As on 30.09.2014

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage

Directors or relatives of Directors

93.00

Other top fifty shareholders

7.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer, Exporter and Importer of Printed Fabric, Dyed Fabric. (Confirmed by management)

 

 

Products :
  • Dyed Fabric
  • Printed Fabric
  • Voiles
  • Cambrics
  • Fabric Dyeing Services
  • Fabric Printing Services

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Finished Goods

Countries :
  • Bangladesh
  • Hong Kong

 

 

Imports :

Not Available

 

 

Terms :

 

Selling :

Cash, L/C and Credit (30/60 Days)

 

 

Purchasing :

Cash, L/C and Credit (30/60 Days)

 

PRODUCTION STATUS = NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

Customers :

Wholesalers, Retailers and End Users

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

No. of Employees :

500 (Approximately)

 

 

Bankers :

Banker Name

State Bank of Patiala

Branch Address

MID Corporate Branch, Shubham complex, Neelam Bata Road, NIT, Faridabad – 121002, Haryana, India

Person Name (With Designation)

Not Available

Contact Number

91-129-2411455

Name of Account Holder

Not Available

Account Number

Not Available

Account Since (Date/Year of Account Opening)

Not Available

Average Balance Maintained (If Possible)

Not Available

Credit Facilities Enjoyed (If any)

Cash Credit = Rs.82.500 Million

Account Operation

Not Available

Remarks (If any)

Bank is closed due to bank holiday.

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

From Banks

 

 

Term Loan State Bank of Patiala

6.150

30.162

Term Loan DCB Bank Limited

26.883

27.600

SHORT TERM BORROWING

 

 

From Banks

 

 

Cash Credit

77.346

78.558

Acceptances

49.359

40.524

Total

159.738

176.844

 

Note:

 

LONG TERM BORROWING

 

Secured by hypothecation of stock of Raw Material, Work-in-progress, finished goods, stores, etc. book debts, inward RRs and GRs. First charge on land, building and fixed assets of the company situated at Plot No.D-25 and 26, Kosi Kotwan Industrial Area, Kosi Kalan – 281403, District – Mathura (Uttar Pradesh) and personal guarantee of Directors.

 

Secured by equitable mortgage of House No. 1266, Sector-15, Faridabad, owned by Sh Sadhu Ram Gupta and personal guarantee of all the directors. Since the loan was disbursed to and utilised by the company all the transactions related there have been recorded in the financial statements of the said company.

 

SHORT TERM BORROWING

 

Secured by hypothecation of stock of Raw material, work-in-progress, finished goods, stores, etc. book debts, inward RRs and GRs. First charge on land, building and fixed assets of the company situated at D-25 and 26, Kosi Kotwan Industrial Area, Kosi Kalan District Mathura (Uttar Pradesh) and personal guarantee of Directors.

 

Auditors :

 

Name :

Sensons

Chartered Accountant

Address :

667, Sector 28, Faridabad – 121003, Haryana, India

PAN No.:

AADFS6389K

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Enterprises over which key management Persons or their Relative having Significant influence :
  • Svarn Telecom
  • Svarn Telecom Limited
  • Svarn Infratel Private Limited
  • Refreecool Systems Private Limited
  • Sadhusons Infotech Private Limited

 

 

CAPITAL STRUCTURE

 

As on 30.09.2014

 

Authorised Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

7000000

Equity Shares

Rs.10/- each

Rs.70.000 Million

 

Issued, Subscribed & Paid-up Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

4730000

Equity Shares

Rs.10/- each

Rs.47.300 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

47.300

47.300

40.352

(b) Reserves & Surplus

32.763

23.307

30.422

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

65.039

52.815

64.429

Total Shareholders’ Funds (1) + (2)

145.102

123.422

135.203

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

46.157

82.402

80.981

(b) Deferred tax liabilities (Net)

26.805

22.093

20.046

(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)

72.962

104.495

101.027

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

126.705

119.082

87.460

(b) Trade payables

109.092

110.872

121.546

(c) Other current liabilities

55.444

44.393

51.476

(d) Short-term provisions

1.553

1.026

1.249

Total Current Liabilities (4)

292.794

275.373

261.731

 

 

 

 

TOTAL

510.858

503.290

497.961

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

214.095

223.315

228.827

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

0.239

0.000

1.724

(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

2.251

1.751

1.751

(e) Other Non-current assets

3.689

3.689

1.858

Total Non-Current Assets

220.274

228.755

234.160

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

153.311

174.531

156.566

(c) Trade receivables

112.988

81.590

88.839

(d) Cash and cash equivalents

7.850

8.558

6.070

(e) Short-term loans and advances

0.000

0.000

0.000

(f) Other current assets

16.435

9.856

12.326

Total Current Assets

290.584

274.535

263.801

 

 

 

 

TOTAL

510.858

503.290

497.961

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

566.442

494.590

451.577

 

Other Income

4.122

8.224

9.510

 

TOTAL

570.564

502.814

461.087

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

305.970

277.704

225.801

 

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

4.889

(20.159)

(61.253)

 

Employees benefits expense

30.826

29.158

27.512

 

Other expenses

173.157

185.099

211.866

 

Preliminary Expenses Written off

0.020

0.020

0.020

 

TOTAL

514.862

471.822

403.946

 

 

 

 

 

Less

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

55.702

30.992

57.141

 

 

 

 

 

Less

FINANCIAL EXPENSES

28.841

32.198

30.869

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION 

26.861

(1.206)

26.272

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

12.371

12.198

16.663

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

14.490

(13.404)

9.609

 

 

 

 

 

Less

TAX

4.712

2.046

3.698

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

9.778

(15.450)

5.911

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

24.589

39.099

20.191

 

TOTAL EARNINGS

24.589

39.099

20.191

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw Materials, Capital Goods, Spare Parts and Components and other Consumbles

0.000

6.185

1.260

 

TOTAL IMPORTS

0.000

6.185

1.260

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

2.07

(0.32)

1.46

 

Particulars

 

 

 

31.03.2015

Sales Turnover (Approximately)

 

 

700.000

 

The above information has been parted by Mr. Rakesh (Finance Department).

 

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

47.877

14.677

30.620

Net cash flows from

47.553

12.845

28.844

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT/Sales)

(%)

1.73

(3.12)

1.31

 

 

 

 

 

Operating Profit Margin

(PBDIT / Sales)

(%)

9.83

6.27

12.65

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

2.84

(2.66)

1.94

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.10

(0.11)

0.07

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

1.19

1.63

1.25

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.99

1.00

1.01

 

 

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

40.352

47.300

47.300

Reserves & Surplus

30.422

23.307

32.763

Share Application money pending allotment

64.429

52.815

65.039

Net worth

135.203

123.422

145.102

 

 

 

 

long-term borrowings

80.981

82.402

46.157

Short term borrowings

87.460

119.082

126.705

Total borrowings

168.441

201.484

172.862

Debt/Equity ratio

1.246

1.632

1.191

 

 

 

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)

Sales

451.577

494.590

566.442

 

 

9.525

14.528

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

451.577

494.590

566.442

Profit

5.911

(15.450)

9.778

 

1.31%

(3.12%)

1.73%

 

 

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

No

26

Turnover of firm for last four years

Yes

27

Reasons for variation <> 20%

----------------------

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

Yes

32

Litigations that the firm/promoter involved in

----------------------

33

Market information

----------------------

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

UNSECURED LOAN

(Rs. In Million)

Particulars

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

From Directors

8.128

17.233

From Share Holders

4.996

7.407

Total

13.124

24.640

 

 

INDEX OF CHARGES

 

S.  No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10571490

20/05/2015

530,000.00

STATE BANK OF PATIALA

MID CORPORATE BRANCH, SHUBHAM COMPLEX, NEELAM BATA ROAD, NIT, FARIDABAD - 121002, Haryana, INDIA

C54717079

2

10571488

30/04/2015

400,000.00

STATE BANK OF PATIALA

MID CORPORATE BRANCH, SHUBHAM COMPLEX, NEELAM BATA ROAD, NIT, FARIDABAD - 121002, Haryana, INDIA

C54715735

3

10429347

20/05/2013 *

137,500,000.00

STATE BANK OF PATIALA

MID CORPORATE BRANCH, SHUBHAM COMPLEX, NEELAM BATA ROAD, NIT, FARIDABAD - 121002, Haryana, INDIA

B76995315

4

10277954

19/04/2012 *

295,000,000.00

STATE BANK OF PATIALA

MID CORPORATE BRANCH, SHUBHAM COMPLEX, NEELAM BATA ROAD, NIT, FARIDABAD - 121002, Haryana, INDIA

B39231022

5

10119103

17/12/2009 *

60,000,000.00

STATE BANK OF PATIALA

COMMERCIAL BRANCH, OM SHUBHAM TOWER, 69-70-71, NEELAM BATA ROAD, FARIDABAD - 121001, Haryana, INDIA

A75506618

6

10119104

03/03/2015 *

172,500,000.00

STATE BANK OF PATIALA

MID CORPORATE BRANCH, OM SHUBHAM TOWER, NIT FARID 
ABAD, FARIDABAD - 121001, Haryana, INDIA

C51673622

 

* Date of charge modification

 

CONTINGENT LIABILITIES

 

Particulars

 

31.03.2014

31.03.2013

Bank Guarantee / Letter of Credit/Foreign Letter of Credit

9.216

8.106

Total

9.216

8.106

 

 

FIXED ASSETS

 

  • Leasehold Land
  • Factory
  • Plant and Machinery
  • Electrical Installation
  • Lab Testing Equipment
  • Office Equipment
  • Vehicles
  • Computers
  • Furniture and Fixture
  • Fire Extinguisher
  • Pattern and Dies
  • Generator

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 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.66.20

UK Pound

1

Rs.98.29

Euro

1

Rs.72.41

 

 

INFORMATION DETAILS

 

Information Gathered by :

PPT

 

 

Analysis Done by :

KYP

 

 

Report Prepared by :

PNM

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILITY 

1~10

3

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

3

--CREDIT LINES

1~10

3

--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

 

29

 

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.