MIRA INFORM REPORT
|
Report No. : |
307642 |
|
Report Date : |
26.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
ADANI POWER RAJASTHAN LIMITED (w.e.f 29.04.2008) |
|
|
|
|
Formerly Known
As : |
ADANI POWER RAJASTHAN PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
Adani House, Near Mithakhali Six Roads, Navrangpura, Ahmedabad –
380009, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
25.01.2008 |
|
|
|
|
Com. Reg. No.: |
04-052743 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.7000.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U40104GJ2008PLC052743 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Generating and Producing of electricity. |
|
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|
No. of Employees
: |
Information declined by the management
|
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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a well-established company having satisfactory track. Trade relations are fair. Business is active. Payment terms are
reported as usually correct. In view of experienced promoters,
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 – 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 |
CARE |
|
Rating |
Long term rating: BBB |
|
Rating Explanation |
Moderated degree of safety and moderate credit risk. |
|
Date |
24.12.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term rating: A3+ |
|
Rating Explanation |
Moderated degree of safety and higher credit risk. |
|
Date |
24.12.2014 |
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 BY
|
Name : |
Mr. Ajay Kudania |
|
Designation : |
Finance head |
|
Contact No.: |
91-8875011012 |
|
Date : |
14.02.2015 |
LOCATIONS
|
Registered Office : |
Adani House, Near Mithakhali Six Roads, Navrangpura, Ahmedabad –
380009, Gujarat, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-8875011012 (Mr. Ajay Kudania) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Corporate Office: |
Achalraj, Opposite Mayor Bunglow, Ahmedabad, Gujarat, India |
DIRECTORS
As on 08.08.2014
|
Name : |
Jayadeb Nanda |
|
Designation : |
Managing director |
|
Address : |
566, Sahid Nagar, Bhubaneshwar – 751007, Orissa, India |
|
Date of Birth/Age : |
10.04.1958 |
|
Date of Appointment : |
09.05.2013 |
|
DIN No.: |
06578925 |
|
|
|
|
Name : |
Mr. Vinod Bhandawat |
|
Designation : |
Director |
|
Address : |
E-573, Third Floor, Greater Kailash – II, New Delhi – 110048, India |
|
Date of Birth/Age : |
05.12.1967 |
|
Date of Appointment : |
14.05.2014 |
|
DIN No.: |
02873571 |
|
|
|
|
Name : |
Kandarp Suryakant Patel |
|
Designation : |
Director |
|
Address : |
A-804, Safal Parivesh, Opposite Prahladnagar Garden, Satellite, 100
Feet Road, Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
23.03.1972 |
|
Date of Appointment : |
14.05.2014 |
|
DIN No.: |
02947643 |
|
|
|
|
Name : |
Kanti Biswas |
|
Designation : |
Director |
|
Address : |
Greenwood Nook Fl-9ar2, 369/2, Purbachal Kalitala Road, Kolkata –
700078, West Bengal, India |
|
Date of Birth/Age : |
27.10.1961 |
|
Date of Appointment : |
14.05.2014 |
|
DIN No.: |
06863504 |
KEY EXECUTIVES
|
Name : |
Mr. Dharmeshkumar Anilbhai Desai |
|
Designation : |
Secretary |
|
Address : |
4/B, Saurashtra Patel So, Opposite Indulal Yagnik Hall, Bhidbhanjan,
Bapunagar, Ahmedabad – 380024, |
|
Date of Birth/Age : |
06.05.1988 |
|
Date of Appointment : |
13.12.2013 |
|
PAN No.: |
ANAPD2170R |
|
|
|
|
Name : |
Mr. Ajay Kudania |
|
Designation : |
Finance head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 08.08.2014
|
Names of Shareholders |
|
No. of Shares |
|
Adani Power Limited, India |
|
1199999896 |
|
Rajesh S Adani (Nominee of Adani Power Limited, India) |
|
50 |
|
Gautam S Adani (Nominee of Adani Power Limited, India) |
|
50 |
|
Devang Desai (Nominee of Adani Power Limited, India) |
|
1 |
|
Vneet S jaain (Nominee of Adani Power Limited, India) |
|
1 |
|
Jayaded Nanda(Nominee of Adani Power Limited, India) |
|
1 |
|
Jatin Jalundhwala (Nominee of Adani Power Limited, India) |
|
1 |
|
Total |
|
1200000000 |
Equity Share Break up (Percentage of Total Equity)
As on 08.08.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Generating and Producing of electricity. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Finance institute: |
SBICAP Trustee Company Limited, 202, Maker Tower, 'E', Cuffe
Parade, Colaba, Mumbai - 400005, Maharashtra, India |
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|
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Auditors : |
|
|
Name : |
Dharmesh Parikh and Company Chartered Accountants |
|
Address : |
303/304, Milestone, Near Drive-in-Cinema, Opposite T.V. Tower, Thaltej, Ahmedabad- 380 054, Gujarat, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAGFD1279G |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding Company: |
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Ultimate holding Company: |
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Fellow subsidiaries
(With whom transactions are done) |
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CAPITAL STRUCTURE
As on 08.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000000 |
Equity Shares |
Rs.10/- each |
Rs. 15000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1200000000 |
Equity Shares |
Rs.10/- each |
Rs.
12000.000 Million |
|
|
|
|
|
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000000 |
Equity Shares |
Rs.10/- each |
Rs. 15000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
700000000 |
Equity Shares |
Rs.10/- each |
Rs. 7000.000
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 |
7000.000 |
7000.000 |
7000.000 |
|
(b) Reserves & Surplus |
(2870.800) |
(19.500) |
(20.958) |
|
(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) |
4129.200 |
6980.500 |
6979.042 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
58920.800 |
52267.900 |
34448.563 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
3566.254 |
|
(d) long-term provisions |
34.600 |
6.400 |
0.624 |
|
Total
Non-current Liabilities (3) |
58955.400 |
52274.300 |
38015.441 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
8342.000 |
1115.100 |
0.000 |
|
(b) Trade payables |
3698.600 |
4.200 |
0.051 |
|
(c) Other current liabilities |
9244.600 |
11162.400 |
6000.492 |
|
(d) Short-term provisions |
839.900 |
1.000 |
0.012 |
|
Total
Current Liabilities (4) |
22125.100 |
12282.700 |
6000.555 |
|
|
|
|
|
|
TOTAL |
85209.700 |
71537.500 |
50995.038 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
75501.300 |
678.100 |
447.142 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
1033.100 |
68234.000 |
45457.576 |
|
(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 |
0.049 |
|
(d) Long-term Loan and Advances |
288.500 |
1865.000 |
4562.365 |
|
(e) Other Non-current assets |
142.200 |
89.400 |
476.828 |
|
Total
Non-Current Assets |
76965.100 |
70866.500 |
50943.960 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
900.000 |
0.000 |
0.000 |
|
(b) Inventories |
1677.500 |
0.000 |
0.000 |
|
(c) Trade receivables |
832.900 |
0.000 |
0.000 |
|
(d) Cash and cash equivalents |
1769.100 |
398.400 |
30.025 |
|
(e) Short-term loans and
advances |
560.600 |
228.500 |
7.482 |
|
(f) Other current assets |
2504.500 |
44.100 |
13.571 |
|
Total
Current Assets |
8244.600 |
671.000 |
51.078 |
|
|
|
|
|
|
TOTAL |
85209.700 |
71537.500 |
50995.038 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
16965.400 |
0.000 |
0.000 |
|
|
Other Income |
82.500 |
2.200 |
0.607 |
|
|
TOTAL
(A) |
17047.900 |
2.200 |
0.607 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
10583.100 |
0.000 |
0.000 |
|
|
Purchases of Stock-in-Trade |
3290.200 |
0.000 |
0.000 |
|
|
Employees benefits expense |
247.800 |
0.000 |
0.000 |
|
|
Other expenses |
689.900 |
0.100 |
0.075 |
|
|
TOTAL
(B) |
14811.000 |
0.100 |
0.075 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
2236.900 |
2.100 |
0.532 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2777.800 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(540.900) |
2.100 |
0.532 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
2310.400 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
(2851.300) |
2.100 |
0.532 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
0.000 |
0.600 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
(2851.300) |
1.500 |
0.532 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(4.07) |
0.00 |
0.00 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(16.81) |
0.00 |
0.00 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
13.19 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.39) |
0.06 |
0.01 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.69) |
0.00 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
16.29 |
7.65 |
4.94 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.37 |
0.05 |
0.01 |
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 |
7000.000 |
7000.000 |
7000.000 |
|
Reserves & Surplus |
(20.958) |
(19.500) |
(2870.800) |
|
Net
worth |
6979.042 |
6980.500 |
4129.200 |
|
|
|
|
|
|
long-term borrowings |
34448.563 |
52267.900 |
58920.800 |
|
Short term borrowings |
0.000 |
1115.100 |
8342.000 |
|
Total
borrowings |
34448.563 |
53383.000 |
67262.800 |
|
Debt/Equity
ratio |
4.936 |
7.647 |
16.290 |
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 |
0.000 |
0.000 |
16965.400 |
|
|
|
|
|
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 |
0.000 |
0.000 |
16965.400 |
|
Profit |
0.532 |
1.500 |
(2851.300) |
|
|
|
|
(16.81%) |
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
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 |
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
CORPORATE INFORMATION
Subject is a public company domiciled in India and incorporated under the provisions of Companies Act, 1956. The company has installed capacity of two power plant of 660 MW each based on Super Critical Technology at Village Kawai, Tehsil Atru, Rajasthan to augment the power supply in the State of Rajasthan. During the year, the Company's two Power Generating Units of 660 MW each commenced commercial operations from 31st May'2013 and 31st December'2013 respectively resulting into total power generating capacity to 1320 MW. The Company intends to sell the power generated from these projects under long term Power Purchase Agreements with Rajasthan Discom. The Company gets synergetic benefit of the integrated value chain of Adani group.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from others |
17757.600 |
16788.800 |
|
Short-term
borrowings |
|
|
|
Loans and advances from others |
5317.200 |
1115.100 |
|
Total |
23074.800 |
17903.900 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10516549 |
12/08/2014 |
4,500,000,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202, MAKER TOWER, 'E', CUFFE PARADE,, COLABA,, MU |
C17974387 |
|
2 |
10466342 |
17/12/2013 |
4,470,000,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202, MAKER TOWER, 'E', CUFFE PARADE,, COLABA,, MU |
B92023399 |
|
3 |
10341111 |
13/03/2012 |
6,740,000,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202, MAKER TOWER, 'E', CUFFE PARADE,, COLABA,, MU |
B34514059 |
|
4 |
10325267 |
05/12/2014 * |
56,070,000,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202, MAKER TOWER, 'E', CUFFE PARADE,, COLABA,, MU |
C35587179 |
|
5 |
10275667 |
28/02/2011 |
3,600,000,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202, MAKER TOWER, 'E', CUFFE PARADE,, COLABA,, MU |
B09008962 |
* Date of charge modification
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
|
|
|
|
|
a. Claims against the Company not acknowledged as debts in respect of: |
|
|
|
|
|
|
|
Entry tax |
53.800 |
53.800 |
|
income tax |
11.600 |
0.000 |
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
- Other equipments
- Leasehold improvements
- Railway sidings
PRESS RELEASES
ADANI ENTERPRISES TO SET UP COUNTRY'S LARGEST 10,000 MW SOLAR PLANT IN
RAJASTHAN
FEBRUARY 9, 2015,
JAIPUR/MUMBAI: Adani Enterprises Limited today signed a pact with the Rajasthan government to develop the country's largest solar park in the state with 10,000 MW capacity over the next 10 years at an estimated investment of about Rs 400000.000 Million.
The company will set up solar power project of 5000 MW on its own in the next five years. The Adani Group will also develop solar manufacturing units and power evacuation systems.
An investment of Rs 400000.000 Million has been proposed in the state for the projects, according to an official statement.
Rajasthan Renewable Energy Corporation (RREC) Managing Director B K Dosi and Adani's power business CEO Vneet S Jaain signed the memorandum of understanding.
The MoU was signed in the presence of the Rajasthan Chief Minister Vasundhara Raje and Adani Enterprises MD Rajesh Adani, said the statement.
The company release said: "Adani Enterprises... and Government of Rajasthan have signed a MoU to jointly set up India's largest solar park of 10,000 MW in Rajasthan."
The flagship company of the Gautam Adani-led Adani Group will form a joint venture (JV) to set up the solar park, which would include generation projects and a manufacturing unit for solar module, parts and equipment.
Sources said while the Rajasthan government would provide the required land for the project as part of its equity, the entire investment would be made by Adani Enterprises.
The company did not reveal the investment figure as it is yet to work out the details.
"India has embarked upon an ambitious programme of becoming a world leased in renewable power generation, with a focus on solar. The development of Solar park facility is our contribution towards realisation of our Honourable Prime Minister's campaign and commitment towards clean and green energy in India," Adani Group Chairman Gautam Adani said in the release.
The solar park will produce clean and green energy of about 16,644 million units, furthering India's goals for clean, renewable energy independence.
The government has announced setting of 0.100 Million mega watt solar capacity by 2022. It has also issued guidelines for setting up at least 25 solar parks each with a capacity of 500 MW and above across India.
Last month, Adani Enterprises had signed an MoU with the US-based SunEdisonlnc to jointly invest USD 4 billion for setting up India's largest solar photo-voltaic making plant at Mundra in Gujarat.
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.62.05 |
|
|
1 |
Rs.96.03 |
|
Euro |
1 |
Rs.70.43 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
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 |
|
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.