MIRA INFORM REPORT
|
Report No. : |
307695 |
|
Report Date : |
21.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
COASTAL ENERGEN PRIVATE LIMITED [w.e.f.13.06.2007] |
|
|
|
|
Formerly Known
As : |
COASTAL GUJARAT POWER COMPANY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No. 5, Moores Road, Chennai – 600006, Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
29.05.2006 |
|
|
|
|
Com. Reg. No.: |
18-060009 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1026.168 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U40102TN2006PTC060009 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEC06959B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCC0886G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject carry on the business of power projects,
generation and distribution of power. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (16) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. Management has declined to disclose any information to us. As per latest financial record of 2014, the company has taken huge
external borrowings, which acts as threatening to the liquidity position of
the company. As per status in the Registrar of Companies, business appears to be
active. Payments are reported to be slow.
The company can be considered for business dealings on safe and
secured 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
|
Rating Agency Name |
ICRA |
|
Rating |
Term Loans = D |
|
Rating Explanation |
Lowest credit quality very low prospects of
recovery. |
|
Date |
September 2013 |
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 DECLINED
MANAGEMENT NON-COOPERATIVE
[CONTACT NO.: 91-44-42964296/ 42964124]
LOCATIONS
|
Registered Office : |
No. 5, Moores Road, Chennai – 600006, Tamilnadu, India |
|
Tel. No.: |
91-44-42964296/ 43974397 |
|
Fax No.: |
91-44-28268316 |
|
E-Mail : |
|
|
Website : |
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|
|
|
|
Corporate Office : |
7th Floor, Buhari Towers, 4, Moores Road, Chennai – 600006, Tamilnadu, India |
|
Tel. No.: |
91-44-42964296 |
|
Fax No.: |
91-44-42964297 |
|
|
|
|
Branch Office 1 : |
5th Floor, Buhari Towers, 4, Moores Road, Chennai – 600006, Tamilnadu, India |
|
|
|
|
Branch Office 2 : |
202-207, Mahalakshmi Chambers, 22, Bhulabhai Desai Road, Mumbai – 400026, Maharashtra, India |
|
Tel. No.: |
91-22-42114211 |
|
Fax No.: |
91-22-23538567 |
DIRECTORS
AS ON 27.09.2013
|
Name : |
Mohammed Zafrulla Sheik |
|
Designation : |
Managing director |
|
Address : |
#6, 4th Main Road, Vasanthanagar East, Bangalore – 560052, Karnataka, India |
|
Date of Birth/Age : |
20/04/1949 |
|
Date of Appointment : |
29.04.2008 |
|
PAN No.: |
AAAPZ3491J |
|
DIN No.: |
00124515 |
|
|
|
|
Name : |
Raza Moosa |
|
Designation : |
Director |
|
Address : |
C-134, Sector 26, Noida - 201301, Uttar Pradesh, India |
|
Date of Birth/Age : |
27.02.1937 |
|
Date of Appointment : |
29.04.2008 |
|
DIN No.: |
00145345 |
|
|
|
|
Name : |
Ahamed Rahman Buhari |
|
Designation : |
Director |
|
Address : |
8, Subba Rao Avenue, III Street, Chennai – 600006, Tamilnadu, India |
|
Date of Birth/Age : |
20.01.1969 |
|
Date of Appointment : |
29.05.2006 |
|
DIN No.: |
00211221 |
|
|
|
|
Name : |
Sen Pradip Kumar |
|
Designation : |
Director |
|
Address : |
4B, Mayapuri Kamadhenu Apartment, 13/8, Binny Road, Poes Garden Chennai – 600086, Tamilnadu, India |
|
Date of Birth/Age : |
25.12.1934 |
|
Date of Appointment : |
29.04.2008 |
|
PAN No.: |
AMXPS5053L |
|
DIN No.: |
02242421 |
KEY EXECUTIVES
|
Name : |
N K Balaji |
|
Designation : |
Secretary |
|
Address : |
New No. 9, Cenotaph, 1st Lane, Teynampet, Chennai – 600018, Tamilnadu, India |
|
Date of Birth/Age : |
28.04.1968 |
|
Date of Appointment : |
28.12.2008 |
|
PAN No.: |
AELPB8556R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Ahmed Buhari (on behalf of Mutiara Energy Holdings) |
|
10 |
|
Mutiara Energy Holdings, Mauritius |
|
48551263 |
|
JBM Agros Private Limited, India |
|
1454545 |
|
JBM Exports Private Limited, India |
|
2090909 |
|
JBM Resorts Private Limited, India |
|
3363636 |
|
Spinoza Enterprises Private Limited, India |
|
2181819 |
|
Jupally Vinod |
|
2272728 |
|
Jupally Ramu Rao |
|
2272727 |
|
Jupally Ranjith Rao |
|
2272727 |
|
Jupally Shyam Rao |
|
2272727 |
|
Precious Energy Holdings Limited |
|
32868415 |
|
|
|
|
|
Total |
|
99601506 |
AS ON 12.02.2014
|
Names of Allottees |
|
No. of Shares |
|
Mutiara Energy Holdings, Mauritius |
|
2919894 |
|
Precious Energy Holdings Limited |
|
95440 |
|
|
|
|
|
Total |
|
3015334 |
|
Names of Allottee |
|
No. of Shares |
|
Precious Energy Holdings Limited |
|
438615 |
|
|
|
|
|
Total |
|
438615 |
AS ON 27.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
81.75 |
|
Bodies
corporate |
9.13 |
|
Other
top fifty shareholders |
9.12 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject carry on the business of power projects,
generation and distribution of power. |
|
|
|
|
Brand Names : |
-- |
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|
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Agencies Held : |
-- |
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Exports : |
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Products : |
-- |
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Countries : |
-- |
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Imports : |
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Products : |
-- |
|
Countries : |
-- |
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Terms : |
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|
Selling : |
-- |
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|
|
|
Purchasing : |
-- |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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|
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Bankers : |
· IFCI Limited IFCI Tower, 61,Nehru Place, New Delhi - 110019, Delhi, India · Tamilnad Mercantile Bank Limited 4, TTK Road, Royapettah, Chennai - 600014, Tamilnadu, India · State Bank of India 3rd Floor, Sigappiachi Building, 18/3, Rukmini Lakshmipathi Road,
Egmore, Chennai, Tamilnadu - 600008, India · Indian Overseas Bank Auras Corporate Centre, Comm. and Insttnl., Dr. Radhakrishanan Salai, Mylapore,, Chennai - 600004, Tamilnadu, India |
||||||||||||||||||||||
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|
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Facilities : |
|
||||||||||||||||||||||
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Banking
Relations : |
-- |
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|
Financial Institution : |
· SBICAP Trustee Company Limited 202, Maker Tower, 'E', Cuffe Parade, Colaba, Mumbai -
400005, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
N.C. Rajagopal and Company Chartered Accountants |
|
Address : |
No.5, Moores Road,1st Floor, Chennai – 600086, Tamilnadu,
India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFN0572A |
|
|
|
|
Ultimate Holding
Company : |
Precious Energy Holdings |
|
|
|
|
Holding Company : |
Mutiara Energy Holdings |
|
|
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|
Enterprises over
which the key managerial personnel and relatives are able to exercise
significant influence : |
·
Coastal Energy Private Limited
[U52599TN1997PTC037547] ·
Coastal Gujarat Powergenco Private Limited
[U40101TN2006PTC060071] ·
Buhari Facility Management Private Limited
[U52599TN1996PTC034941] ·
Buhari Estate Company Private Limited ·
Buhari Holdings Private Limited
[U45201TN1989PTC017001] |
CAPITAL STRUCTURE
AFTER 18.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
125,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 1250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
103,055,455 |
Equity Shares |
Rs. 10/- each |
Rs. 1030.555 Millions |
|
|
|
|
|
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
125,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 1250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
102,616,840 |
Equity Shares |
Rs. 10/- each |
Rs. 1026.168 Millions |
|
|
|
|
|
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 |
1026.168 |
934.659 |
629.458 |
|
(b) Reserves & Surplus |
9722.062 |
8924.168 |
5983.995 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
0.002 |
0.002 |
49.815 |
|
Total
Shareholders’ Funds (1) + (2) |
10748.232 |
9858.829 |
6663.268 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
47789.781 |
38360.453 |
30149.746 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
8.028 |
6.846 |
6.431 |
|
Total
Non-current Liabilities (3) |
47797.809 |
38367.299 |
30156.177 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
25.000 |
|
(b)
Trade payables |
0.000 |
0.000 |
0.000 |
|
(c)
Other current liabilities |
5135.539 |
5667.549 |
5991.021 |
|
(d)
Short-term provisions |
11.492 |
14.819 |
4.937 |
|
Total
Current Liabilities (4) |
5147.031 |
5682.368 |
6020.958 |
|
|
|
|
|
|
TOTAL |
63693.072 |
53908.496 |
42840.403 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1734.119 |
1729.193 |
1731.243 |
|
(ii)
Intangible Assets |
1.595 |
2.103 |
1.206 |
|
(iii)
Capital work-in-progress |
43575.565 |
40996.227 |
33972.400 |
|
(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 |
1169.110 |
1381.762 |
2123.387 |
|
(e)
Other Non-current assets |
16853.131 |
9633.012 |
4894.337 |
|
Total
Non-Current Assets |
63333.520 |
53742.297 |
42722.573 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c)
Trade receivables |
0.000 |
0.000 |
0.000 |
|
(d)
Cash and cash equivalents |
235.134 |
1.316 |
20.601 |
|
(e)
Short-term loans and advances |
124.418 |
164.883 |
97.229 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
359.552 |
166.199 |
117.830 |
|
|
|
|
|
|
TOTAL |
63693.072 |
53908.496 |
42840.403 |
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 |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(116.806) |
(111.847) |
(156.054) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
25335.868 |
24129.247 |
22384.043 |
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
|
|
|
|
|
|
Basic
|
(1.14) |
(1.20) |
(2.48) |
|
|
|
Diluted |
(1.20) |
(1.55) |
(3.18) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Debt Equity Ratio (Total Debt/Networth) |
|
4.45 |
3.89 |
4.53 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.07 |
0.03 |
0.02 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
629.458 |
934.659 |
1026.168 |
|
Reserves & Surplus |
5983.995 |
8924.168 |
9722.062 |
|
Share Application money pending allotment |
49.815 |
0.002 |
0.002 |
|
Net
worth |
6663.268 |
9858.829 |
10748.232 |
|
|
|
|
|
|
Long-term borrowings |
30149.746 |
38360.453 |
47789.781 |
|
Short term borrowings |
25.000 |
0.000 |
0.000 |
|
Total
borrowings |
30174.746 |
38360.453 |
47789.781 |
|
Debt/Equity ratio |
4.529 |
3.891 |
4.446 |
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 |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
No |
|
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 |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10518624 |
07/07/2014 |
1,550,000,000.00 |
STATE BANK OF
INDIA |
3RD FLOOR,
SIGAPPIACHI BUILDING, 18/3, RUKMINI LAKSHMIPATHI ROAD, EGMORE, CHENNAI,
TAMILNADU - 600008, INDIA |
C19614411 |
|
2 |
10473739 |
30/01/2014 * |
2,000,000,000.00 |
IFCI LIMITED |
IFCI TOWER,
61,NEHRU PLACE, NEW DELHI, DELHI - 110019, INDIA |
B94968013 |
|
3 |
10478108 |
27/12/2013 |
3,854,000,000.00 |
STATE BANK OF
INDIA |
3RD FLOOR, SIGAPPI
ACHI BUILDING, 18/3, RUKMINI LAKSHMIPATHI ROAD, EGMORE, CHENNAI, TAMILNADU -
600008, INDIA |
B96605332 |
|
4 |
10402422 |
24/12/2012 * |
550,000,000.00 |
SBICAP TRUSTEE
COMPANY LIMITED |
202, MAKER TOWER,
'E', CUFFE PARADE,, COLABA, MUMBAI, MAHARASHTRA - 400005, INDIA |
B67996066 |
|
5 |
10394291 |
07/03/2014 * |
1,420,000,000.00 |
INDIAN OVERSEAS
BANK |
AURAS CORPORATE
CENTRE,COMM. & INSTTNL., DR. RADH |
C04382081 |
|
6 |
10385400 |
29/11/2014 * |
776,600,000.00 |
TAMILNAD
MERCANTILE BANK LIMITED |
NO.4, TTK ROAD,
ROYAPETTAH, CHENNAI, TAMIL NADU - 600004, INDIA |
C36450047 |
|
7 |
10170032 |
09/01/2015 * |
55,913,600,000.00 |
SBICAP TRUSTEE
COMPANY LIMITED |
202, MAKER
TOWER, 'E', CUFFE PARADE,, COLABA, MUMBAI, MAHARASHTRA - 400005, INDIA |
C43378983 |
* Date of charge modification
BACKGROUND
Subject was incorporated on May 29, 2006. The Company has
been set up to carry on the business of power projects, generation and
distribution of power. The Company is in the process of setting up a 1200 Mega
Watt (MW) thermal based power plant at Tuticorin district, Tamil Nadu.
FINANCIAL RESULTS AND
PROGRESS:
The year has been another eventful year for your Company. This year was marked with achievement of various significant milestones, as given below, and is gearing towards achievement of COD of the Plant.
· The LILO line was charged on 23rd December 2013 and start up power was availed on 26th December, 2013.
· 400k V GIS was successfully charged on 23rd December, 2013
· Unit-1 Generator, Station and Unit Transformers and Medium Voltage Switchgears were energized to 400KV/ 20KV / 11KV on 24th Dec 2013 and start-up Power Supply extended to Sea Water Pump House (RO Plant).
· Back Charging to Sea Water Pump House was done on 25th December 2013 and the trial run of sea water inlet started on 27th December 2013.
· RO Plant was successfully commissioned and the production of service, DM and Portable Water commenced on 30th January 2014, 10th February 2014 and 11th February 2014 respectively.
· Significant activity of Boiler light up was achieved on 25th March 2014.
· Unit-2 Boiler drainable hydro test was completed on 15th July 2013.
· Further, we are happy to inform that the major milestone of 1st unit of 600MW synchronization to the Grid is scheduled during 1st week of September 2014 and the coal firing during second week of September 2014.
In addition to this, the current year witnessed path breaking events and the few key achievements include:
· All consortium member banks have disbursed their Term Loan progressively.
· IIFCL, UK have sanctioned FCL of USD 110MN, to be utilised for payment of buyer's credit.
·
All the materials have been cleared from
Customs, and Unit-2 erection is in full swing.
FUTURE OUTLOOK:
The progress during the year was commendable and is gearing towards achieving COD during this year. They have executed a PPA with TANGEDCO for 558MW (net.), at a very healthy levelised tariff of Rs. 4.91 per kwH, with a forex pass through for import of coal. They will be exporting the entire Unit-1 power to TANGEDCO, as per this PPA, once we achieved COD of Unit-1 that is expected shortly.
The future outlook is very promising is especially keeping in view the present shortage and constant demand position of power in the state of Tamil Nadu, and also the Southern region.
The Company is shaping itself in the path to success for the
supply of power to potential Consumers very shortly.
FIXED ASSETS:
· Land
· Buildings
· Plant and equipment
· Other plant and equipment
· Furniture and fixtures
· Vehicles
· Motor vehicles
· Office equipment
· Computer equipments
· Other equipments
· Leasehold improvements
· Computer software
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 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 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. 62.26 |
|
|
1 |
Rs. 96.01 |
|
Euro |
1 |
Rs. 70.72 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILITY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
16 |
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.