MIRA INFORM REPORT

 

 

Report No. :

330166

Report Date :

03.07.2015

 

IDENTIFICATION DETAILS

 

Name :

GOLDSEAL-SAARGUMMI INDIA PRIVATE LIMITED

 

 

Registered Office :

Goldseal House, Village Road, Bhandup, Mumbai – 400078, Maharashtra

Tel. No.:

91-22-25663498

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

29.08.1997

 

 

Com. Reg. No.:

11-110354

 

 

Capital Investment / Paid-up Capital :

Rs.36.231 Million

 

 

CIN No.:

[Company Identification No.]

U25209MH1997PTC110354

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer, Exporter and Importer of parts and accessories of motor vehicles (Channels)

 

 

No. of Employees :

1000  (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (27)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Sow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a subsidiary of CQLT "SaarGummi Technologies S.a.r.l Germany." It is established during the year 1997. It is engaged in the business of manufacturing, exporting and importing of parts and accessories of motor vehicles. It has a moderate track record.

 

For the previous financial year 2013, the company has inadequate financial risk profile marked by losses incurred by the company.

 

Further, rating is constrained on account of weak liquidity profile along with modest net worth position and huge borrowings taken by the company.

 

Moreover, there is unfavourable gap between trade payables and receivables.

 

However, rating weakness partially offset by strong financial and managerial support that company receives from its holding company.

 

However, trade relations are reported as fair. Business is active. Payments terms are slow but correct.

 

 In view of being part of Gold seal of India and Saargummi of Germany, the company can be considered for business dealings 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.

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

Not Available

Rating

Not Available

Rating Explanation

Not Available

Date

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 31-03-2013.

 

INFORMATION PARTED BY (GENERAL DETAILS)

 

Name :

Mr. Nitin Mule

Designation :

Export Executive

Contact No.:

91-22-25663498

Date :

02.07.2015

 

 

LOCATIONS

 

Registered Office :

Goldseal House, Village Road, Bhandup, Mumbai – 400078, Maharashtra, India

Tel. No.:

91-22-25663498/ 67370303/ 5613498 / 3499 / 5685216/ 25661114

Fax No.:

91-22-67370304/ 25642171

E-Mail :

goldseal@vsnl.com

sales@goldseal.in

Website :

http://www.goldseal.in

 

 

Factory 1:

Daulet Abad, Daman Patalia Road, Bhimpore, Daman – 396210, India

Tel. No.:

91-260-2220043/ 2221043/ 44

Fax No.:

91-260-2221410

E-Mail :

sales@goldseal.in

 

 

Factory 2 :

Sanand, Ahmedabad, Guajrat, India

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Sudhir Kapur

Designation :

Director

Address :

C-49, Gulmohor Park, New Delhi-110049, New Delhi - 110049, Delhi, India

Date of Birth/Age :

18.02.1955

Date of Appointment :

24.09.2013

DIN No.:

00150127

 

 

Name :

Mr. Khursheed Cyrus Aga

Designation :

Director

Address :

51, Sommerset House, Off Warden Road, Mumbai - 400026, Maharashtra, India

Date of Birth/Age :

21.03.1982

Date of Appointment :

20.02.2004

DIN No.:

00283874

 

 

Name :

Mr. Cyrus Hoshang Aga

Designation :

Director

Address :

51, Sommerset House, Off Warden Road, Mumbai - 400026, Maharashtra, India

Date of Birth/Age :

24.11.1955

Date of Appointment :

29.08.1997

DIN No.:

00284019

 

 

Name :

Mr. Darius Cyrus Aga

Designation :

Director

Address :

51 Sommerset House, Warden Road, Near Sophia College,, Mumbai - 400026, Maharashtra, India

Date of Birth/Age :

29.09.1985

Date of Appointment :

01.07.2012

DIN No.:

05331383

 

 

Name :

Mr. Eduard Alexander Sworski

Designation :

Director

Address :

Kremser STR 1, Nurnberg, 90475, , Germany

Date of Birth/Age :

29.10.1967

Date of Appointment :

07.02.2014

DIN No.:

06829508

 

 

Name :

Mr. Lawrence Joseph Johnson

Designation :

Director

Address :

567 Ridge Point Dr, Dundee, M1481318630, United States of America

Date of Birth/Age :

13.07.1963

Date of Appointment :

07.02.2014

DIN No.:

06829543

 

 

Name :

Mr. Urvaksh Cyrus Aga

Designation :

Alternate director

Address :

51 Sommerset House, Warden Road, Near Sophia College,, Mumbai - 400026, Maharashtra, India

Date of Birth/Age :

21.03.1980

Date of Appointment :

29.03.2007

DIN No.:

00283926

 

 

Name :

Mr. Pilloo Cyrus Aga

Designation :

Alternate director

Address :

51 Sommerset House, Warden Road, Near Sophia College,, Mumbai - 400026, Maharashtra, India

Date of Birth/Age :

16.09.1955

Date of Appointment :

29.03.2007

DIN No.:

00284093

Election Commission Identity Card No.:

MT04024270035

 

 

Name :

Mr. Nadine Jost

Designation :

Alternate director

Address :

Robert - Schuman, Allee 71, Trier, 54296, Germany

Date of Birth/Age :

16.02.1981

Date of Appointment :

07.02.2014

DIN No.:

06480902

 

 

Name :

Mr. Ralf Bickel

Designation :

Alternate director

Address :

Rubengarten 23, Beckingen, 66701, Germany

Date of Birth/Age :

17.04.1964

Date of Appointment :

07.04.2014

DIN No.:

06487968

 

 

KEY EXECUTIVES

 

Name :

Mr. Nitin Mule

Designation :

Export Executive

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

SHAREHOLDING DETAIL FILE ATTACHED

 

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

51.00

Directors or relatives of Directors

49.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer, Exporter and Importer of parts and accessories of motor vehicles (Channels)

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Finished Goods 

Countries :
  • African Centuries
  • Dubai
  • Europe Centuries
  • USA
  • Egypt

 

 

Imports :

 

Products :

Raw Material

Countries :
  • Singapore
  • Malaysia
  • UK
  • Germany

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS: NOT AVAILABLE

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

1000  (Approximately)

 

 

Bankers :

Banker Name

Bank of India

Branch Address

Ghatkopar (East) Branch, Kiran Niketan, Tilak Road, Ghatkopar (East), Mumbai - 400077, Maharashtra, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2013

As on

31.03.2012

LONG TERM BORROWING

 

 

Term loan

From banks

The Zoroastrian Co-operative Bank Limited

(Secured by way first charge plant and machinery and motor vehicle)

20.495

6.539

SHORT TERM BORROWING

 

 

From Banks

32.982

30.172

Total

53.477

36.711

NOTE:

 

LONG TERM BORROWING

 

Details of terms of repayment for the other long term borrowings and security provided in respect of the secured other long term borrowings

 

Particulars

31.03.2013

31.03.2012

Term loan

From banks

The Zoroastrian Co-operative Bank Limited

 

Repayable in 48 equated monthly instalments of Rs. 0.385 Million each hypothecation by way of first charge on the machinery.

 

Repayable in 48 equated monthly instalments of Rs. 0.890 Million each hypothecation by way of first charge on the machinery.

 

Repayable in 27 equated monthly instalments of Rs. 0.0.043 Million each hypothecation by way of first charge on motor vehicles.

 

 

20.495

6.539

 

 

SHORT TERM BORROWING

 

Particulars

31.03.2013

31.03.2012

Loans repayable on demand from banks

The Zoroastrian Co-operative Bank Limited

 (Workign capital CC Accoutns)

Hypothecation by way of first charges on the entire stock and book-debts of the company

32.983

30.172

 

Banking Relations :

 

 

 

Financial Institute:

Volkswagen India Private Limited, E -1, MIDC Industrial Area Phase III, Village Nigoje Mhalunge Kharabwadi Chakan Taluka Khed, Pune - 410501, Maharashtra, India

 

 

Auditors :

 

Name :

Deloitte Haskins and Sells

Chartered Accountant

Address :

Heritage, 3rd Floor, Near Gujarat Vidyapith, Off. Ashram Road, Ahmedabad – 380014, Gujarat, India

Tel No.:

91-79-27582542/27582543

Fax No.:

91-79-27582551

PAN N Income-tax PAN of auditor or auditor's firm :

AABFD7919A

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Holding Company:
  • Saargummi Technologies s.a.r.l

 

 

Ultimate holding Company
  • Chongqing Light Industry and Textile Holding (Group) Company Limited

 

 

Company in which KMP/ relatives of KMP can exercise significant influence:

  • Goldseal Engineering Products Private Limited
  • Permaseal Auto Products Private Limited
  • Goldseal Avon Polymers Private Limited
  • Age Holdings and Agencies Private Limited
  • Vanseti Investments and Holdings Private Limited
  • SG International GmbH

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

6500000

Equity Shares

Rs.10/- each

Rs. 65.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

6242625

Equity Shares

Rs.10/- each

Rs. 62.426 Million

 

 

 

 

 

 

AS ON 31.03.2013

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

3700000

Equity Shares

Rs.10/- each

Rs. 37.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

3623140

Equity Shares

Rs.10/- each

Rs. 36.231 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2013

31.03.2012

31.03.2011

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

36.231

31.884

31.884

(b) Reserves & Surplus

29.954

22.163

22.059

(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)

66.185

54.047

53.943

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

49.764

6.539

0.000

(b) Deferred tax liabilities (Net)

17.506

10.006

9.136

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

1.208

0.892

0.955

Total Non-current Liabilities (3)

68.478

17.437

10.091

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

105.147

110.149

97.405

(b) Trade payables

99.504

83.319

48.267

(c) Other current liabilities

18.950

12.870

16.907

(d) Short-term provisions

1.954

2.282

1.658

Total Current Liabilities (4)

225.555

208.620

164.237

 

 

 

 

TOTAL

360.218

280.104

228.271

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

173.167

90.087

78.113

(ii) Intangible Assets

0.565

0.631

0.000

(iii) Capital work-in-progress

1.002

0.715

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.100

0.100

0.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

7.057

5.286

5.286

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

181.891

96.819

83.399

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

36.222

27.417

14.345

(c) Trade receivables

70.966

102.816

102.743

(d) Cash and cash equivalents

10.000

2.965

2.791

(e) Short-term loans and advances

60.963

49.979

24.976

(f) Other current assets

0.176

0.108

0.017

Total Current Assets

178.327

183.285

144.872

 

 

 

 

TOTAL

360.218

280.104

228.271

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

 

 

Income

648.208

638.601

443.863

 

Other Income

 

0.037

0.213

 

TOTAL

648.208

638.638

444.076

 

 

 

 

 

 

EXPENSES

 

 

 

 

Cost of Materials Consumed

 

477.809

306.795

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

-6.639

3.089

 

Employees benefits expense

 

43.148

29.204

 

Other expenses

 

96.041

74.942

 

TOTAL

668.569

(Including Financial Expenses and Depreciation)

 

 

610.359

414.030

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION 

28.279

30.046

 

 

 

 

 

FINANCIAL EXPENSES

12.678

8.688

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION 

15.601

21.358

 

 

 

 

 

DEPRECIATION/ AMORTISATION

 

9.081

7.534

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

(20.361)

6.520

13.824

 

 

 

 

 

 

TAX (H)

0.000

2.685

5.370

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

(27.861)

3.835

8.454

 

 

 

 

 

 

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD 

11.206

11.391

14.978

 

 

 

 

 

 

APPROPRIATIONS

 

 

 

 

Payment of interim dividends (Inclusive of dividend tax)

0.000

3.730

11.191

 

Transferred of general reserves

0.000

0.290

0.850

 

 

 

 

 

 

Balance Carried to the B/S

(16.655)

11.206

11.391

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

12.894

15.451

13.386

 

TOTAL EARNINGS

12.894

15.451

13.386

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw Materials

19.113

10.587

11.634

 

Components and Stores parts

0.000

0.051

0.159

 

Capital Goods

48.128

4.056

0.000

 

TOTAL IMPORTS

67.241

14.694

11.793

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

(8.32)

1.20

2.65

 

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2013

31.03.2012

31.03.2011

Current Maturities of Long term debt

10.508

3.309

0.000

Cash generated from operations

33.915

20.948

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2013

31.03.2012

31.03.2011

Net Profit Margin

(PAT / Sales)

(%)

NA

0.60

1.90

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

NA

4.43

6.77

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

(5.67)

2.33

6.06

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

(0.31)

0.12

0.26

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

2.50

2.22

1.81

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.79

0.88

0.88

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

31.884

31.884

36.231

Reserves & Surplus

22.059

22.163

29.954

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

53.943

54.047

66.185

 

 

 

 

long-term borrowings

0.000

6.539

49.764

Short term borrowings

97.405

110.149

105.147

Current maturities of long-term debts

0.000

3.309

10.508

Total borrowings

97.405

119.997

165.419

Debt/Equity ratio

1.806

2.220

2.499

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Total Income 

44.076

638.638

648.208

 

 

1,348.947

1.499

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Total Income 

44.076

638.638

648.208

Profit

(391.546)

3.835

(27.861)

 

(888.34%)

0.60%

(4.30%)

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

Yes

16

No. of employees

Yes

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

No

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

PROGRESS OF THE COMPANY (AS ON 31.03.2013)

 

During the year, the company reported sales of Rs. 642.568 Million in comparison to Rs. 638.106 Million of previous year and the loss during the year of Rs. 20.361 Million comparison to Rs. 6.520 Million of previous year.

 

The board is making extra efforts to enhance sales in the current year whilst minimizing the operating cost, to enhance profitability.

 

CORPORATE INFORMATION (AS ON 31.03.2013)

 

Subject was incorporated in the year 1997. The company has entered into joint venture with Saargummi Technologies (Germany). GSSG manufactures of EPOM rubber weather strip application for vehicles manufacturers, industrial and aftermarket. GSSG has manufacturing operation at Daman and Mumbai.

 

UNSECURED LOAN

(Rs. In Million)

Particulars

As on

31.03.2013

As on

31.03.2012

LONG TERM BORROWING

 

 

From other (Saargummi Technologies)

29.270

0.000

SHORT TERM BORROWING

 

 

Loans and advances form related parties

72.164

79.977

Total

101.434

79.977

LONG TERM BORROWING

 

Details of terms of repayment for the other long term borrowings and security provided in respect of the secured other long term borrowings

 

Particulars

31.03.2013

31.03.2012

Repayable in 4  equated quarterly instalments commencing June 2015 of USD 142500 equivalent to Rs 7.317 Million each as on 31st march 2013.

 

 

 

29.270

0.0000

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10532898

29/10/2014

250,000,000.00

ING VYSYA BANK LIMITED

CHANKYA BUILDING, NEAR DINESH HALL, OFF ASHRAM RO
AD, AHMEDABAD, GUJARAT - 380009, INDIA

C34643825

2

10495352

18/03/2014

40,000,000.00

THE ZOROASTRIAN CO-OPERATIVE BANK LIMITED

THANE BRANCH,, NARGIS, GROUND FLOOR, EDULJEE ROAD
, CHARAI,, THANE, MAHARASHTRA - 400601, INDIA

C04684437

3

10374216

18/07/2012

40,000,000.00

THE ZOROASTRIAN CO-OPERATIVE BANK LTD

NIRLON HOUSE, 5TH FLOOR,, DR. ANNIE BESANT ROAD,
WORLI, MUMBAI, MAHARASHTRA - 400030, INDIA

B57141855

4

10299310

06/07/2011

17,500,000.00

THE ZOROASTRIAN CO-OP BANK LTD.

NARGIS, GROUND FLOOR,, EDULJEE ROAD, CHARAI, THAN
E (W), THANE, MAHARASHTRA - 400601, INDIA

B17716754

5

10295202

19/03/2015 *

80,000,000.00

THE ZOROASTRIAN CO-OPERATIVE BANK LIMITED

THANE BRANCH,, NARGIS, GROUND FLOOR, EDULJEE ROAD
, CHARAI,, THANE, MAHARASHTRA - 400601, INDIA

C50148774

 

* Date of charge modification

 

FIXED ASSETS

 

  • Building
  • Electrical Installation
  • Plant and Equipment
  • Dies and Moulds
  • Date Processing Equipment’s
  • Furniture and Fixtures
  • Vehicles
  • Office Equipment’s
  • 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, India Prisons Service, Interpol, etc.

 

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.63.57

UK Pound

1

Rs.99.20

Euro

1

Rs.70.35

 

 

INFORMATION DETAILS

 

Information Gathered by :

PRT

 

 

Analysis Done by :

TRI

 

 

Report Prepared by :

KVT

 

 

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

3

--LIQUIDITY

1~10

2

--LEVERAGE

1~10

2

--RESERVES

1~10

2

--CREDIT LINES

1~10

2

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

YES

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

27

 

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

 

--

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.