MIRA
INFORM REPORT
|
Report No. : |
303371 |
|
Report Date : |
17.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
JMATEK INDIA PRIVATE LIMITED |
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Registered
Office : |
House No. 68, Sector 2, Gurgaon – 122002, Haryana |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
07.02.2012 |
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Com. Reg. No.: |
05-052921 |
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Capital
Investment / Paid-up Capital : |
Rs.2.538 Millions |
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CIN No.: [Company Identification
No.] |
U52100HR2012PTC052921 |
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TIN No.: |
Not Available |
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IEC No.: |
Not Available |
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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 : |
Private Limited Liability Company |
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Line of Business
: |
Distributor of White Goods. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
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 : |
Yet to commence its commercial operations |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Even though, the company was incorporated on 07.02.2012. It is yet to
commence it commercial operations. Mr. Vinod Kantharia (Vice President) has provided us with all
information. However, business is active as per status shown in the registrar of
companies. Payment are reported to be unknown. The company can be considered for business dealings on safe and
secured trade terms and conditions. Note: As claimed by
Mr. Vinod Kantharia (Vice President) that the Jmatek India Private Limited
(JIPL) was incorporated on 07th February 2012 in Ahmedabad with a
view to start the localization and mark our foot print in India. For the
first two year, there was no operation in the company they wanted to
understand who are correct partners would be with suppliers and well as
customers. Finally in current year 2014, they decided to shift the registered
address of their company from Ahmedabad to Gurgaon. The reason was to
identify the right client and OEM contact manufacturer for them, both based
in Gurgaon. JIPL is an affiliate of Airtek International Corporation Limited,
based in Hong Kong, they have global license from Honeywell to design,
manufacture, sell and distribute evaporative our coolers. JIPL is engaged
with their OEM contractor to manufacturer evaporative our coolers under
Honeywell brand and JIPL will sell this product to Usha International Limited
(UIL). The operations between JIPL and UIL will start from January 2015
onward. |
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 |
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Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Vinod Kantharia |
|
Designation : |
Vice President |
|
Contact No.: |
(852)-68072525 / (825)-34685078 |
|
Date : |
14.01.2015 |
LOCATIONS
|
Registered Office : |
House No. 68, Sector 2, Gurgaon – 122002, Haryana, India |
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Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Naresh Kumra |
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Designation : |
Director |
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Address : |
1802 Township, Rajpura - 140401, Punjab, India |
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Date of Birth/Age : |
21.05.1970 |
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Date of Appointment : |
05.08.2014 |
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DIN No.: |
01008288 |
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Other Directorship:
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Name : |
Mr. Baldev Kumar Varma |
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Designation : |
Director |
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Address : |
19 Middle Lane Discovery Bay Midwale Village, Marine View 18/F Flat B
and Penthous B, Lantau Island NT, NA, Hong Kong |
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Date of Birth/Age : |
08.11.1940 |
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Date of Appointment : |
07.02.2012 |
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DIN No.: |
05172959 |
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Name : |
Mr. Shiv Mohan |
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Designation : |
Director |
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Address : |
71, Basant Nagar, Po Vasant Vihar, New Delhi - 110057, India |
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Date of Birth/Age : |
30.04.1976 |
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Date of Appointment : |
05.08.2014 |
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DIN No.: |
06940964 |
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Other Directorship:
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MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Falgun Bhupendra Shah |
5000 |
1.97 |
|
Baldev Kumar Varma |
5000 |
1.97 |
|
Oriental America Jaima (HK) Limited, Hong Kong |
111820 |
44.05 |
|
Airtek International Corportaion Limited, Hong Kong |
132002 |
52.01 |
|
Total |
253822 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
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 |
96.06 |
|
Directors or relatives of Directors |
3.94 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Distributor of White Goods. |
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Products : |
White Goods |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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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
|
Suppliers : |
Not Divulged |
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Customers : |
Not Divulged |
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No. of Employees : |
Not Divulged |
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Bankers : |
Not Divulged |
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Facilities : |
-- |
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Auditors : |
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Name : |
Rona Sanghavi and Company Chartered Accountants |
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Address : |
8,10 Residency 17, Vrundavan Colony, Dharnidhar Derasar Road, Vasna,
Ahmedabad – 380007, Gujarat, India |
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PAN No.: |
BCXPS2244E |
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Memberships : |
-- |
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Collaborators : |
-- |
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Sister Concern : |
Not Available |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
260000 |
Equity Shares |
Rs.10/- each |
Rs.2.600 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
253822 |
Equity Shares |
Rs.10/- each |
Rs.2.538 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2014 |
31.03.2013 |
|
I.
EQUITY
AND LIABILITIES |
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|
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|
(1)Shareholders' Funds |
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|
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(a) Share Capital |
|
2.538 |
2.538 |
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(b) Reserves & Surplus |
|
(2.500) |
(2.346) |
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(c) Money
received against share warrants |
|
0.000 |
0.000 |
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(2) Share Application money pending allotment |
|
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
|
0.038 |
0.192 |
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(3)
Non-Current Liabilities |
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(a) long-term borrowings |
|
0.000 |
0.000 |
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(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
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(c) Other long term liabilities |
|
0.000 |
0.000 |
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(d) long-term provisions |
|
0.000 |
0.000 |
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Total Non-current Liabilities (3) |
|
0.000 |
0.000 |
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(4) Current Liabilities |
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(a) Short term borrowings |
|
0.000 |
0.000 |
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(b) Trade payables |
|
0.000 |
0.000 |
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(c) Other current
liabilities |
|
0.104 |
0.048 |
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(d) Short-term provisions |
|
0.000 |
0.000 |
|
Total Current Liabilities (4) |
|
0.104 |
0.048 |
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TOTAL |
|
0.142 |
0.240 |
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II.
ASSETS |
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(1) Non-current assets |
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(a) Fixed Assets |
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(i) Tangible assets |
|
0.000 |
0.000 |
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(ii) Intangible Assets |
|
0.000 |
0.000 |
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(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
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(iv)
Intangible assets under development |
|
0.000 |
0.000 |
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(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
0.000 |
0.000 |
|
|
|
|
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|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
0.000 |
0.000 |
|
(c) Trade receivables |
|
0.000 |
0.000 |
|
(d) Cash and cash
equivalents |
|
0.120 |
0.121 |
|
(e) Short-term loans and
advances |
|
0.000 |
0.000 |
|
(f) Other current assets |
|
0.022 |
0.119 |
|
Total Current Assets |
|
0.142 |
0.240 |
|
|
|
|
|
|
TOTAL |
|
0.142 |
0.240 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
0.000 |
0.156 |
|
|
|
Other Income |
|
0.000 |
0.001 |
|
|
|
TOTAL (A) |
|
0.000 |
0.157 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of Stock-in-trade |
|
0.000 |
0.144 |
|
|
|
Employee Benefits Expenses |
|
0.000 |
0.554 |
|
|
|
Administrative and general expenses
|
|
0.154 |
1.732 |
|
|
|
TOTAL (B) |
|
0.154 |
2.430 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
(0.154) |
(2.273) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
|
(0.154) |
(2.273) |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
|
0.000 |
0.073 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
|
(0.154) |
(2.346) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
|
(0.154) |
(2.346) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
(2.346) |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
(2.500) |
(2.346) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
(9.85) |
(9.24) |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT/Sales) |
(%) |
|
0.00 |
(1503.85) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
|
0.00 |
(1457.05) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
(108.45) |
(977.50) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
(4.05) |
(12.22) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.37 |
5.00 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
|
31.03.2013 |
31.03.2014 |
|
|
|
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
|
2.538 |
2.538 |
|
Reserves & Surplus |
|
(2.346) |
(2.500) |
|
Share Application money pending allotment |
|
0.000 |
0.000 |
|
Net
worth |
|
0.192 |
0.038 |
|
|
|
|
|
|
Long Term borrowings |
|
0.000 |
0.000 |
|
Short Term borrowings |
|
0.000 |
0.000 |
|
Total
borrowings |
|
0.000 |
0.000 |
|
Debt/Equity
ratio |
|
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
|
31.03.2013 |
31.03.2014 |
|
|
|
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
|
0.156 |
0.000 |
|
|
|
|
(100.000) |
NET PROFIT MARGIN
|
Net
Profit Margin |
|
31.03.2013 |
31.03.2014 |
|
|
|
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
|
0.156 |
0.000 |
|
Profit |
|
(2.346) |
(0.154) |
|
|
|
(1503.85%) |
0.00% |
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
two years |
Yes |
|
12] |
Profitability for last
two years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
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 |
No |
|
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 |
CORPORATE
INFORMATION:
Subject is a company domiciled in India and incorporated under the
provision of the Companies Act 1956. The company is distributor of white goods.
Presently its registered office is at Gurgaon.
OPERATIONS:
During the year there was no operational activity. The gross revenue for
the year is Nil as compared to Rs.0.157 Million in 2012-13. The company has
incurred loss or Rs.0.154 Million as compared to Rs.2.346 Million in the
previous year.
NO CHARGES EXIST
FOR THE COMPANY
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.61.89 |
|
UK Pound |
1 |
Rs.93.92 |
|
Euro |
1 |
Rs.73.01 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
1 |
|
OPERATING SCALE |
1~10 |
1 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILITY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
11 |
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.