MIRA
INFORM REPORT
|
Report No. : |
301004 |
|
Report Date : |
05.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
TIMEZONE ENTERTAINMENT PRIVATE LIMITED |
|
|
|
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Registered
Office : |
305, B - Wing, 3rd Floor, Eureka Towers, Mindspace Link
Road, Malad West, Mumbai – 400064, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
09.10.2003 |
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Com. Reg. No.: |
11-142597 |
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Capital
Investment / Paid-up Capital : |
Rs.504.859
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U92199MH2003PTC142597 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMT08818F / MUMT09804E |
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PAN No.: [Permanent Account No.] |
AABCT9012F |
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|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
Subject is engaged in the Business of Operating Family Entertainment
Center (FEC) Branded as “Timezone” |
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|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 770000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The rating is constrained on account of company’s moderate financial
risk profile marked by below average operational performance and huge accumulated
losses incurred by the company. However, trade relations are fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealing with some caution. |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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 bank facilities=BBB+(So) |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
12.12.2014 |
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 DENIED BY
Management Non Co-operative (91-22-40954413)
LOCATIONS
|
Registered Office /
Head Office: |
305, B - Wing, 3rd Floor, Eureka Towers, Mindspace Link Road,
Malad West, Mumbai – 400064, Maharashtra, India |
|
Tel. No.: |
91-22-40954413 / 40954444 / 40954499 |
|
Fax No.: |
91-22-40954499 |
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E-Mail : |
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|
Website : |
DIRECTORS
AS ON 16.07.2014
|
Name : |
Mrs. Sonal Harinder Nath Chopra |
|
Designation : |
Director |
|
Address : |
Flat No. 202 A, Serenity Heights, Mindspace, Malad Link Road, Malad (West), Mumbai – 400064, Maharashtra, India |
|
Date of Birth/Age : |
28.09.1973 |
|
Date of Appointment : |
15.01.2009 |
|
Din No.: |
01611458 |
|
|
|
|
Name : |
Chong Ching Kee |
|
Designation : |
Director |
|
Address : |
Block 106d, Punggol Field, 08-500, Singapore 824106 |
|
Date of Birth/Age : |
04.02.1964 |
|
Date of Appointment : |
24.12.2010 |
|
Din No.: |
03099574 |
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|
|
|
Name : |
Mr. Sanjay Manindra Nath Chakravarti |
|
Designation : |
Director |
|
Address : |
Flat No. 1101, B Wing, Anmol Apartment, Excel Industrial Estate,
Opposite Petel Auto, Off S.V. Road, Goregaon (West), Mumbai-400062,
Maharashtra, India |
|
Date of Birth/Age : |
05.11.1969 |
|
Date of Appointment : |
29.02.2012 |
|
Din No.: |
05246624 |
|
|
|
|
Name : |
Mr. Krishna Kumar Chellappan Nair |
|
Designation : |
Director |
|
Address : |
E-2003, Anmol Towers, S.V. Road, Opposite Patel Auto, Goregaon (West),
Mumbai-400062, Maharashtra, India |
|
Date of Birth/Age : |
15.09.1960 |
|
Date of Appointment : |
19.10.2012 |
|
Din No.: |
06411003 |
MAJOR SHAREHOLDERS
AS ON 16.07.2014
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Louisiana Investments and Finance Private Limited, India |
796699 |
1.58 |
|
Avel Pty Limited, Australia |
59850 |
0.12 |
|
Aberdee Pty Limited, Australia |
22289696 |
44.15 |
|
Shoppers Stop Limited, India |
24446247 |
48.42 |
|
Leisure and Allied Industries India Private Limited, India |
2893400 |
5.73 |
|
Total |
50485892 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 16.07.2014
|
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 |
44.00 |
|
Bodies corporate |
56.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the Business of Operating Family Entertainment
Center (FEC) Branded as “Timezone” |
|
|
|
|
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 : |
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Selling : |
Not Divulged |
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Purchasing : |
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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Auditors : |
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|
Name : |
V. P. Thacker and Company Chartered Accountants |
|
Address : |
1105, Embassy Center, Nariman Point, Mumbai – 400021, Maharashtra, India |
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Tel. No.: |
91-22-66311480 |
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Fax No.: |
91-22-66311474 |
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E-Mail : |
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PAN No: |
AABFV6588P |
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Membership : |
-- |
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|
Associates : |
·
LAI Game s International Pte Limited ·
Embed International Pty ·
P T Matahari Graha Fantasi ·
Leisure and Ailled Industries Phillipines Inc. ·
LAI Games International Pte Limited ·
LAI Singapore Pte Limited ·
P T Matahari Leisure ·
Timezone Funtasia ·
LAI Games Sales Inc. ·
Shoppers Stop Limited ·
Aberdee Pty Limited ·
Avel Pty Limited (Royalty) ·
Avel Pty Limited ·
LAI India Private Limited ·
P T Matahari Graha Fantasi |
CAPITAL STRUCTURE
AS ON 16.07.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
51000000 |
Equity Shares |
Rs.10/- each |
Rs.510.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50485892 |
Equity Shares |
Rs.10/- each |
Rs.504.859 Millions |
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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 |
504.859 |
393.791 |
356.335 |
|
(b) Reserves & Surplus |
(235.745) |
(220.858) |
(219.362) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
24.010 |
|
Total
Shareholders’ Funds (1) + (2) |
269.114 |
172.933 |
160.983 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
95.000 |
0.000 |
19.780 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
12.654 |
0.457 |
1.571 |
|
(d) long-term provisions |
0.379 |
0.445 |
0.466 |
|
Total Non-current Liabilities (3) |
108.033 |
0.902 |
21.817 |
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|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
40.000 |
20.000 |
|
(b) Trade payables |
5.248 |
9.288 |
5.810 |
|
(c) Other current
liabilities |
81.423 |
108.334 |
116.210 |
|
(d) Short-term provisions |
3.160 |
2.285 |
1.033 |
|
Total Current Liabilities (4) |
89.831 |
159.907 |
143.053 |
|
|
|
|
|
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TOTAL |
466.978 |
333.742 |
325.853 |
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II.
ASSETS |
|
|
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|
(1) Non-current assets |
|
|
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(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
310.223 |
239.015 |
222.597 |
|
(ii) Intangible Assets |
2.456 |
2.378 |
0.000 |
|
(iii) Capital
work-in-progress |
32.507 |
4.157 |
23.573 |
|
(iv)
Intangible assets under development |
0.000 |
0.894 |
4.430 |
|
(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 |
67.473 |
42.337 |
44.633 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
412.659 |
288.781 |
295.233 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
7.298 |
6.622 |
4.846 |
|
(c) Trade receivables |
1.487 |
2.025 |
1.428 |
|
(d) Cash and cash
equivalents |
17.976 |
11.973 |
8.222 |
|
(e) Short-term loans and
advances |
24.159 |
19.672 |
15.764 |
|
(f) Other current assets |
3.399 |
4.669 |
0.360 |
|
Total Current Assets |
54.319 |
44.961 |
30.620 |
|
|
|
|
|
|
TOTAL |
466.978 |
333.742 |
325.853 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
460.615 |
423.603 |
329.224 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
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TOTAL |
NA |
NA |
NA |
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|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
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|
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|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
49.995 |
56.615 |
27.805 |
|
|
|
|
|
|
|
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|
Less |
DEPRECIATION/
AMORTISATION |
63.641 |
56.556 |
54.564 |
|
|
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|
|
|
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|
PRIOR PERIOD
ITEMS |
1.241 |
1.556 |
3.897 |
|
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|
|
PROFIT / (LOSS)
BEFORE TAX |
(14.887) |
(1.497) |
(30.656) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
(0.001) |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(14.887) |
(1.496) |
(30.656) |
|
|
|
|
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(220.857) |
(219.361) |
(188.705) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(235.744) |
(220.857) |
(219.361) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(0.29) |
(0.04) |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
(3.23) |
(0.35) |
(9.31) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.43) |
(0.46) |
(10.29) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.06) |
(0.01) |
(0.19) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.35 |
0.23 |
0.25 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.60 |
0.28 |
0.21 |
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 |
356.335 |
393.791 |
504.859 |
|
Reserves & Surplus |
(219.362) |
(220.858) |
(235.745) |
|
Share Application money pending allotment |
24.010 |
0.000 |
0.000 |
|
Net
worth |
160.983 |
172.933 |
269.114 |
|
|
|
|
|
|
long-term borrowings |
19.780 |
0.000 |
95.000 |
|
Short term borrowings |
20.000 |
40.000 |
0.000 |
|
Total
borrowings |
39.780 |
40.000 |
95.000 |
|
Debt/Equity
ratio |
0.247 |
0.231 |
0.353 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
329.224 |
423.603 |
460.615 |
|
|
|
28.667 |
8.737 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
329.224 |
423.603 |
460.615 |
|
Profit |
(30.656) |
(1.496) |
(14.887) |
|
|
(9.31%) |
(0.35%) |
(3.23%) |
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 |
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 |
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Millions |
31.03.2013 Rs. In Millions |
|
Short Term Borrowings |
|
|
|
Other loans and
advances |
0.000 |
40.000 |
|
|
|
|
|
Total |
0.000 |
40.000 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10508249 |
08/07/2014 |
30,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
C10705994 |
|
2 |
10459716 |
05/11/2013 |
100,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B89291843 |
*Date of modification Charges
FIXED ASSETS:
· Plant and Machinery
· Furniture and Fixtures
· Electrical Installation
· Other Equipment
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 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
: |
KRN |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
32 |
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.