MIRA INFORM REPORT
|
Report Date : |
03.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
MAN TRUCKS INDIA PRIVATE LIMITED (w.e.f.30.03.2012) |
|
|
|
|
Formerly Known
As : |
MAN FORCE TRUCKS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
501-502, Kapil Zenith, Survey No. 55, Hissa No. 1, Behind Maratha Mandir, Bavdhan Khurd, Pune – 411021, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2013 |
|
|
|
|
Date of
Incorporation : |
08.03.2006 |
|
|
|
|
Com. Reg. No.: |
11-022147 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1353.942 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34102PN2006PTC022147 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEM10978C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECM6932E |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing of Heavy Commercial Vehicles. |
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|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is a wholly owned subsidiary of “Man Truck and Bus AG”. It is
an established company having satisfactory track. Management has reported an acceptable net profit from its operations,
which has partially wiped off a part of its accumulated losses during FY
December 13. The ratings also take into consideration, the comfortable capital structure
and adequate cash balance along with zero gearing during the year under
review. Trade relations are fair. Business is active. Payment terms are
reported as usually correct. In view of technical, managerial and financial support from its parent
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.
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 DENIED BY
|
Name : |
Mr. Vinit |
|
Designation : |
Finance Department |
|
Contact No.: |
91-20-66762525 |
|
Date : |
31.12.2014 |
LOCATIONS
|
Registered Office : |
501-502, Kapil Zenith, Survey No. 55, Hissa No. 1, Behind Maratha Mandir, Bavdhan Khurd, Pune – 411021, Maharashtra, India |
|
Tel. No.: |
91-20-66762525 |
|
Fax No.: |
Not Available |
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E-Mail : |
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|
Website : |
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|
Location : |
Leased |
|
|
|
|
Factory : |
Plot No.3B1, Sector 1, Pithampur Industrial Estate, District Dhar, Pithampur – 454775, Madhya Pradesh, India |
|
Tel. No.: |
91-7292-305051 |
|
Fax. No.: |
91-7292-308180 |
DIRECTORS
AS ON 12.05.2014
|
Name : |
Mr. Jagadish Adde Bhat |
|
Designation : |
Managing director |
|
Address : |
C-1302, 13th Floor, Bpcl Housing Co-Operative Society, Plot No 3, Sector 46A, Nerul, Navi Mumbai – 400706, Maharashtra, India |
|
Qualification : |
BE |
|
Date of Appointment : |
08.08.2012 |
|
PAN No.: |
ADUPJ9923C |
|
DIN No. : |
02470009 |
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|
|
|
Name : |
Mr. Martin Gerhard Beuschel |
|
Designation : |
Director |
|
Address : |
Kindermannstr. 3, Munich Munich 80637 |
|
Date of Birth/Age : |
30.06.1969 |
|
Date of Appointment : |
28.06.2013 |
|
DIN No. : |
05239317 |
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|
|
|
Name : |
Mr. Vijaykumar Madhukar Yelne |
|
Designation : |
Director |
|
Address : |
A-1102, Kapil Abhijat, Near Cummins I, Dahanukar Cly, Kothrud, Pune – 411038, Maharashtra, India |
|
Qualification : |
BE,DBM |
|
Date of Appointment : |
28.03.2012 |
|
PAN No. : |
AABPY9350L |
|
DIN No. : |
05240726 |
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|
|
|
Name : |
Franz Josef Wenus |
|
Designation : |
Director |
|
Address : |
Kirchstr .4d Sauerlach 82054 |
|
Date of Birth/Age : |
02.05.1960 |
|
Date of Appointment : |
28.06.2013 |
|
DIN No. : |
06548568 |
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|
|
|
Name : |
Horst Herbert Schmidt |
|
Designation : |
Director |
|
Address : |
Schurrweg 20 Munchen 81241 |
|
Date of Birth/Age : |
25.04.1959 |
|
Date of Appointment : |
28.06.2013 |
|
DIN No. : |
06552492 |
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|
|
|
Name : |
Raphael Ulrich Petry |
|
Designation : |
Director |
|
Address : |
Hans-Klein-Str.12 Munich 81373 |
|
Date of Birth/Age : |
04.10.1974 |
|
Date of Appointment : |
28.06.2013 |
|
DIN No. : |
06553205 |
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|
|
|
Name : |
Dietmar Klein |
|
Designation : |
Director |
|
Address : |
Blmenstr.3 Dachau 85221 |
|
Date of Birth/Age : |
12.03.1963 |
|
Date of Appointment : |
28.06.2013 |
|
DIN No. : |
06553213 |
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|
|
|
Name : |
Mr. Michael Ulverich |
|
Designation : |
Director |
|
Address : |
Max-Morlock-Weg 3 Neufahrn B Freising 85375 |
|
Date of Birth/Age : |
27.04.1975 |
|
Date of Appointment : |
28.06.2013 |
|
DIN No. : |
06553576 |
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|
|
|
Name : |
Mr. Thomas Hemmerich |
|
Designation : |
Director |
|
Address : |
Carl-Olaf-Petersen-str.12 Dachau 85221 |
|
Date of Birth/Age : |
17.03.1967 |
|
Date of Appointment : |
28.06.2013 |
|
DIN No. : |
06556501 |
KEY EXECUTIVES
|
Name : |
Mr. Vinit Maheshwari |
|
Designation : |
Secretary |
|
Address : |
D-23, Shri Swami Samarth Society, Sus Road, Pashan, Pune – 411021, Maharashtra, India |
|
Date of Appointment : |
01.07.2012 |
|
PAN No.: |
AGLPM1570C |
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|
|
|
Name : |
Mr. Sanjeev Kashyup |
|
Designation : |
Sr. General Manager |
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|
Name : |
Mr. Shrikant S. Pandit |
|
Designation : |
Vice President |
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|
Name : |
Mr. Richard Dieter Frenz |
|
Designation : |
Head-Business Development |
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|
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|
Name : |
Mr. Mauricio Hernandez |
|
Designation : |
Chief Financial Officer |
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|
|
|
Name : |
Mr. Vinit |
|
Designation : |
Finance Department |
MAJOR SHAREHOLDERS
AS ON 12.05.2014
|
Names of Shareholders |
No. of Shares |
|
Man Truck and Bus AG, Germany |
135394200 |
|
Man Verwaltungs Gesellschaft Mit Beschrankter Haftung, Germany |
1 |
|
Force Motors Limited, India |
1 |
|
|
|
|
Total |
135394202 |
Equity Share Break up (Percentage of Total Equity)
AS ON 12.05.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Heavy Commercial Vehicles. |
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|
|
|
Products : |
Heavy Commercial Vehicles |
|
|
|
|
Brand Names : |
Not Divulged |
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|
|
|
Agencies Held : |
Not Divulged |
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|
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Exports : |
Not Divulged |
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|
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Imports : |
Not Divulged |
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Terms : |
|
|
Selling : |
Not Divulged |
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|
|
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
-- |
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|
Customers : |
-- |
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No. of Employees : |
Information declined by the management |
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|
|
|
Bankers : |
· State Bank of India, Corporate Accounts Group, Voltas House, Ballard Estate, Mumbai – 400001, Maharashtra, India ·
Canara Bank, Pimpri Branch, Station Road,
Pimpri, Pune – 411018, Maharashtra, India |
|
|
|
|
Facilities : |
-- |
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|
|
|
Banking
Relations : |
-- |
|
|
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Auditors : |
|
|
Name : |
Price Waterhouse and Company Chartered Accountants |
|
Address : |
Muttha Towers, 5th Floor, Suite No. 8Q, Airport Road, Yerwada, Pune - 411006, Maharashtra, India |
|
PAN
No.: |
AADFP9359C |
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|
|
|
Membership : |
-- |
|
|
|
|
Holding company : |
Man Truck and Bus AG, Germany |
|
|
|
|
Fellow Subsidiary
company : |
· Man Nutzfahrzeuge Osterrieich AG, Germany · Man Accounting Centre SP, Germany · Man Bus SP. Z.O.O., Germany · Volkswagen India Private Limited, India |
CAPITAL STRUCTURE
AS ON 12.05.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
135800000 |
Equity Shares |
Rs.10/- each |
Rs.1358.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
135394202 |
Equity Shares |
Rs.10/- each |
Rs.1353.942 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2013 (12 Months) |
31.12.2012 (9 Months) |
31.03.2012 (12 Months) |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1353.942 |
1353.942 |
1353.942 |
|
(b) Reserves & Surplus |
3313.265 |
2946.451 |
3317.312 |
|
(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) |
4667.207 |
4300.393 |
4671.254 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(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 |
492.628 |
491.789 |
54.320 |
|
Total Non-current
Liabilities (3) |
492.628 |
491.789 |
54.320 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
534.021 |
|
(b) Trade
payables |
1817.878 |
3058.105 |
3149.952 |
|
(c) Other
current liabilities |
659.932 |
721.108 |
860.881 |
|
(d) Short-term
provisions |
36.441 |
40.668 |
50.766 |
|
Total Current Liabilities
(4) |
2514.251 |
3819.881 |
4595.620 |
|
|
|
|
|
|
TOTAL |
7674.086 |
8612.063 |
9321.194 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1522.216 |
1477.684 |
1468.516 |
|
(ii)
Intangible Assets |
14.961 |
54.454 |
84.849 |
|
(iii)
Capital work-in-progress |
167.249 |
61.795 |
44.562 |
|
(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 |
588.450 |
527.002 |
377.638 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
2292.876 |
2120.935 |
1975.565 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
2008.405 |
2410.748 |
2377.787 |
|
(c) Trade
receivables |
601.520 |
956.880 |
920.775 |
|
(d) Cash
and cash equivalents |
2106.986 |
2004.443 |
3231.431 |
|
(e)
Short-term loans and advances |
661.683 |
1114.505 |
815.624 |
|
(f) Other
current assets |
2.616 |
4.552 |
0.012 |
|
Total
Current Assets |
5381.210 |
6491.128 |
7345.629 |
|
|
|
|
|
|
TOTAL |
7674.086 |
8612.063 |
9321.194 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2013 (12 Months) |
31.12.2012 (9 Months) |
31.03.2012 (12 Months) |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
6783.204 |
6277.510 |
9879.130 |
|
|
|
Other Income |
142.933 |
116.259 |
22.301 |
|
|
|
TOTAL |
6926.137 |
6393.769 |
9901.431 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(275.893) |
(385.603) |
(495.150) |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
(240.199) |
157.717 |
198.132 |
|
|
|
|
|
|
|
|
|
|
Exceptional items
(waiver of liability) |
882.906 |
172.459 |
435.629 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
366.814 |
(370.861) |
(257.653) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.171 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
366.814 |
(370.861) |
(257.824) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(4051.206) |
(3680.345) |
(3422.521) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(3684.392) |
(4051.206) |
(3680.345) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
-- |
3333.239 |
3528.692 |
|
|
TOTAL EARNINGS |
-- |
3333.239 |
3528.692 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
2.71 |
(2.74) |
(1.90) |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2013 (12 Months) |
31.12.2012 (9 Months) |
31.03.2012 (12 Months) |
|
Net Profit Margin PAT / Sales |
(%) |
5.30 |
(5.80) |
(2.60) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.89 |
(4.34) |
(2.78) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
(0.09) |
(0.06) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.11 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.14 |
1.70 |
1.60 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 (12 Months) |
31.12.2012 (9 Months) |
31.12.2013 (12 Months) |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
1353.942 |
1353.942 |
1353.942 |
|
Reserves & Surplus |
3317.312 |
2946.451 |
3313.265 |
|
Net
worth |
4671.254 |
4300.393 |
4667.207 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
534.021 |
0.000 |
0.000 |
|
Total
borrowings |
534.021 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.114 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 (12 Months) |
31.12.2012 (9 Months) |
31.12.2013 (12 Months) |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
9879.130 |
6277.510 |
6783.204 |
|
|
|
(36.457) |
8.056 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 (12 Months) |
31.12.2012 (9 Months) |
31.12.2013 (12 Months) |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
9879.130 |
6277.510 |
6783.204 |
|
Profit |
(257.824) |
(370.861) |
366.814 |
|
|
(2.61%) |
(5.91%) |
5.41% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS ARE NOT AVAILABLE.
|
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 |
No |
|
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 |
NOTE: The registered
office of the company has been shifted from Bombay Pune Road, Akurdi, Pune –
411035, Maharashtra, India to the present address w.e.f. 01.10.2012
NO CHARGES EXIST
FOR COMPANY.
FIXED ASSETS:
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· 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 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.63.28 |
|
|
1 |
Rs.98.39 |
|
Euro |
1 |
Rs.76.31 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
|
46 |
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.