MIRA
INFORM REPORT
|
Report No. : |
306304 |
|
Report Date : |
20.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
SSP PLASTIPACK PRIVATE LIMITED |
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|
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Registered
Office : |
E-85, Sector – 1, DSIIDC Industrial Area, Bawana, |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
29.03.2010 |
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Com. Reg. No.: |
55-200894 |
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Capital Investment
/ Paid-up Capital : |
Rs.0.100 Million |
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CIN No.: [Company Identification
No.] |
U25190DL2010PTC200894 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELS41427B |
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|
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PAN No.: [Permanent Account No.] |
AAOCS0739H |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter and Importer of Plastic Molded Components. |
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No. of Employees
: |
100 (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 16000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Mr. Vaibhav Sharma, (Director) claims that the company was established
in the year 1993 with the name of SS polymers as a proprietorship concern and
the proprietor was Mr. Sanjay Sharma. Later it got converted into private
limited company on 29.03.2010 having a satisfactory track. Trade relations reported to be fair. Business is active. Payment terms
are reported to be usually correct. The company can be considered for business dealings with 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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Vaibhav Sharma |
|
Designation : |
Director |
|
Contact No.: |
91-9212711818 |
|
Date : |
03.02.2015 |
LOCATIONS
|
Registered Office/ Factory 1 : |
E-85, Sector-1, DSIIDC Industrial Area, Bawana, Delhi – 110039, India |
|
Tel. No.: |
91-11-64625363/65105363/64675363 |
|
Mobile No.: |
91-9212711818 (Mr. Vaibhav Sharma) |
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Fax No.: |
91-11-27750614 |
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E-Mail : |
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|
Website : |
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Area : |
10000 Sq. ft. |
|
Location : |
Owned |
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|
|
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Factory 2 : |
K-13, Sector-1, DSIIDC Industrial Area, Bawana, Delhi – 110039, India |
|
Location : |
Owned |
DIRECTORS
AS ON 28.09.2013
|
Name : |
Mr. Vaibhav Sharma |
|
Designation : |
Director |
|
Address : |
P-104, CR Park, New Delhi – 110019, Delhi, India |
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Date of Birth/Age : |
27.09.1985 |
|
Date of Appointment : |
29.03.2010 |
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DIN No.: |
02942162 |
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|
|
|
Name : |
Mr. Sorav Sharma |
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Designation : |
Director |
|
Address : |
P-104, CR Park, New Delhi – 110019, Delhi, India |
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Date of Birth/Age : |
03.11.1987 |
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Date of Appointment : |
29.03.2010 |
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DIN No.: |
03008978 |
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|
|
|
Name : |
Mr. Sanjay Kumar Sharma |
|
Designation : |
Director |
|
Address : |
P-104, CR Park, New Delhi – 110019, Delhi, India |
|
Date of Birth/Age : |
01.07.1961 |
|
Date of Appointment : |
29.03.2010 |
|
DIN No.: |
03009133 |
MAJOR SHAREHOLDERS
AS ON 28.09.2013
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Sanjay Kumar Sharma |
8000 |
80.00 |
|
Vaibhav Sharma |
1000 |
10.00 |
|
Sorav Sharma |
1000 |
10.00 |
|
|
|
|
|
Total |
10000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 28.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Plastic Molded Components. |
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|
Products : |
Jars and Containers
Bottles
Medicinal Applicators
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
Plastic Molded |
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Countries : |
·
Russia ·
Nepal |
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Imports : |
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Products : |
Raw Material |
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Countries : |
·
China ·
Taiwan ·
Korea |
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Terms : |
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Selling : |
Cash and credit |
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Purchasing : |
Cash and credit |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
100 (Approximately) |
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Bankers : |
·
Punjab National Bank, Delhi ·
HDFC Bank, Delhi Branch |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
A H P N and Associates Chartered Accountants |
|
Address : |
116, Mall Apartments, Mall Road, Delhi – 110054, India |
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Tel. No.: |
91-11-23810370 |
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Mobile No.: |
91-9811395590 |
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E-mail : |
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PAN No.: |
AATFA3389D |
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Membership : |
-- |
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Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
AS ON 28.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100
Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100
Million |
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|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
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 |
0.100 |
0.100 |
0.100 |
|
(b) Reserves & Surplus |
5.536 |
3.194 |
1.563 |
|
(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) |
5.636 |
3.294 |
1.663 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
14.499 |
12.517 |
14.901 |
|
(b) Deferred tax liabilities (Net) |
0.204 |
0.412 |
0.213 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
12.253 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
14.703 |
12.929 |
27.367 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
15.885 |
19.557 |
0.000 |
|
(c) Other current
liabilities |
11.517 |
4.867 |
0.000 |
|
(d) Short-term provisions |
0.952 |
0.843 |
1.581 |
|
Total Current Liabilities (4) |
28.354 |
25.267 |
1.581 |
|
|
|
|
|
|
TOTAL |
48.693 |
41.490 |
30.611 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
15.363 |
14.742 |
13.154 |
|
(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 |
4.340 |
3.345 |
2.105 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
1.372 |
|
(e) Other Non-current assets |
0.090 |
0.090 |
0.000 |
|
Total Non-Current Assets |
19.793 |
18.177 |
16.631 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1.935 |
2.191 |
1.898 |
|
(c) Trade receivables |
19.360 |
15.595 |
11.176 |
|
(d) Cash and cash
equivalents |
2.477 |
1.576 |
0.182 |
|
(e) Short-term loans and
advances |
1.127 |
1.190 |
0.366 |
|
(f) Other current assets |
4.001 |
2.761 |
0.358 |
|
Total Current Assets |
28.900 |
23.313 |
13.980 |
|
|
|
|
|
|
TOTAL |
48.693 |
41.490 |
30.611 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
NA |
NA |
44.689 |
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
42.950 |
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
3.084 |
2.673 |
1.739 |
|
|
|
|
|
|
|
Less |
TAX |
0.743 |
1.041 |
0.577 |
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
2.341 |
1.632 |
1.162 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
234.10 |
-- |
-- |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.95 |
7.01 |
6.10 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.55 |
0.81 |
1.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.57 |
3.80 |
8.96 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.02 |
0.92 |
8.84 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
0.100 |
0.100 |
0.100 |
|
Reserves & Surplus |
1.563 |
3.194 |
5.536 |
|
Net
worth |
1.663 |
3.294 |
5.636 |
|
|
|
|
|
|
long-term borrowings |
14.901 |
12.517 |
14.499 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
14.901 |
12.517 |
14.499 |
|
Debt/Equity
ratio |
8.960 |
3.800 |
2.573 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
one year |
Yes |
|
12] |
Profitability for last three
years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Millions |
31.03.2013 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
|
|
|
|
Loans and advances
from related parties |
8.915 |
6.202 |
|
Other loans and
advances |
0.122 |
0.930 |
|
|
|
|
|
Total |
9.037 |
7.132 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10466679 |
18/12/2013 |
865,284.00 |
Electronica Finance Limited |
128/A, Plot No.3,Kailashchandra Appartments,, Paud Road, Kothrud, Pune, Maharashtra - 411038, India |
B92163013 |
|
2 |
10465709 |
07/12/2013 |
1,912,440.00 |
Electronica Finance Limited |
128/A, Plot No.3,Kailashchandra Apartments, Paud Road, Kothrud, Pune, Maharashtra - 411038, India |
B91769513 |
|
3 |
10459126 |
09/11/2013 |
865,284.00 |
Electronica Finance Limited |
128/A, Plot No.3,Kailashchandra Apartments, Paud Road, Kothrud, Pune, Maharashtra - 411038, India |
B89120711 |
|
4 |
10371255 |
01/08/2012 |
716,295.00 |
Electronica Finance Limited |
128/A, Plot No.3,Kailashchandra Apartments, Paud Road, Kothrud, Pune, Maharashtra - 411038, India |
B55919849 |
|
5 |
10368447 |
04/07/2012 |
2,112,737.00 |
Electronica Finance Limited |
128/A, Plot No.3,Kailashchandra Apartments, Paud Road, Kothrud, Pune, Maharashtra - 411038, India |
B44862266 |
|
6 |
10333966 |
28/01/2012 |
3,917,110.00 |
Electronica Finance Limited |
128/A, Plot No.3,Kailashchandra Apartments, Paud Road, Kothrud, Pune, Maharashtra - 411038, India |
B31438302 |
|
7 |
10315790 |
15/10/2011 |
573,781.00 |
Electronica Finance Limited |
128/A, Plot No.3,Kailashchandra Apartments, Paud Road, Kothrud, Pune, Maharashtra - 411038, India |
B24605859 |
|
8 |
10312073 |
30/08/2011 |
2,110,840.00 |
Electronica Finance Limited |
128/A, Plot No.3,Kailashchandra Apartments, Paud Road, Kothrud, Pune, Maharashtra - 411038, India |
B23235971 |
|
9 |
10225001 |
28/04/2010 |
1,392,415.00 |
Electronica Finance Limited |
128/A, Plot No.3,Kailashchandra Apartments, Paud Road, Kothrud, Pune, Maharashtra - 411038, India |
A87570859 |
*Date of modification Charges
FIXED ASSETS:
· Computer
· Camera Digital
· Carl
· Air Conditioner
· Mobile Phone
· Plant and Machinery
· Office Equipment
· Weight Machine
· Water Dispenser
· Electrical Equipment
· Fire Extinguisher
· Mono Block Pumps
· Pentair Home
· Invertor
·
Factory
·
Furniture and Fixture
·
Land
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.62.25 |
|
|
1 |
Rs.95.57 |
|
Euro |
1 |
Rs.71.01 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
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 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
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 |
||
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.