MIRA INFORM REPORT
|
Report No. : |
329577 |
|
Report Date : |
03.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
RESIN DISTRIBUTORS LIMITED (w.e.f. 16.07.2008) |
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|
|
|
Formerly Known
As : |
RESIN DISTRIBUTORS PRIVATE LIMITED (w.e.f. 11.03.1965) BHOGILAL FABRICATOR PRIVATE LIMITED |
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Registered
Office : |
707, Embassy Centre, Nariman Point, Mumbai - 400 042, Maharashtra |
|
Tel. No.: |
91-22-40502500 |
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|
Country : |
India |
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|
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
14.09.2001 |
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Com. Reg. No.: |
11-133375 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.500 Million |
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|
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CIN No.: [Company Identification
No.] |
U29246MH2001PLC133375 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR14608G |
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PAN No.: [Permanent Account No.] |
AAACR5880Q |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
They are Del Credere agent of Reliance Industries Limited. |
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|
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No. of Employees
: |
40 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated during the year
2001.The company is the del credere agent of Reliance Industries Limited. It
has a good track record. For the financial year 2014, the company has significant business
operations and decent profitability margin along with good sales volume. Further financial year 2014, the company has significant business
operations and decent profitability margin along with good sales volume. Further, the company has fine financial base marked by decent net worth
along with low borrowings and good gap between trade receivables to its
payables. Trade relations are reported as fair. Business is active. Payments
terms are regular and as per commitment. In view healthy business scale and good market position, the company
can be considered for business dealings at usual trade terms and
conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 |
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. Thomas |
|
Designation : |
Accounts Head |
|
Contact No.: |
91-22-40502500 |
|
Date : |
01.07.2015 |
LOCATIONS
|
Registered Office : |
707, Embassy Centre, Nariman Point, Mumbai - 400 042, Maharashtra,
India |
|
Tel. No.: |
91-22-40502500/40502700 |
|
Fax No.: |
91-22-66306418 |
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E-Mail : |
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|
Website : |
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Head Office : |
812, A, Embassy Centre, Nariman Point, Mumbai - 400 021, Maharashtra,
India |
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Tel. No.: |
91-22-40502500 / 22843540 |
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Fax No.: |
91-22-22047235 |
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E-Mail : |
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Marketing Office : |
101, Andheri Industrial Estate, Veer Desai Road, Andheri (West),
Mumbai – 400053, Maharashtra, India |
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Tel. No.: |
91-22-43444888 |
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Fax No.: |
91-22-43444800 |
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E-Mail : |
DIRECTORS
AS ON 30.08.2014
|
Name : |
Mr. Arun Shriniwas Goel |
|
Designation : |
Whole time director |
|
Address : |
B-5, Sterling Apartment, Pedder Road, Mumbai – 400026, Maharashtra,
India |
|
Date of Birth/Age : |
31.12.1957 |
|
Date of Appointment : |
22.04.1993 |
|
DIN No.: |
00010006 |
|
|
|
|
Name : |
Mr. Saurabh Arun Goel |
|
Designation : |
Director |
|
Address : |
B-5, Sterling Apartment, Pedder Road, Mumbai – 400026, Maharashtra,
India |
|
Date of Birth/Age : |
27.12.1984 |
|
Date of Appointment : |
24.09.2007 |
|
DIN No.: |
00022496 |
|
|
|
|
Name : |
Mr. Kusum Arun Goel |
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Designation : |
Whole time director |
|
Address : |
B-5, Sterling Apartment, Pedder Road, Mumbai – 400026, Maharashtra,
India |
|
Date of Birth/Age : |
17.01.1963 |
|
Date of Appointment : |
22.04.1993 |
|
DIN No.: |
00010060 |
KEY EXECUTIVES
|
Name : |
Mr. Thomas |
|
Designation : |
Accounts Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.08.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Arun Goel jointly with Kusum Goel |
967 |
22.35 |
|
Kusum Goel jointly with Arun Goel |
985 |
22.76 |
|
Saurabh Arun Goel |
274 |
6.33 |
|
Madhav Arun Goel |
274 |
6.33 |
|
Laxmi Satyapal Jain |
160 |
3.70 |
|
Rina Virendra Jain |
650 |
15.02 |
|
Sushma Anand Jain |
834 |
19.27 |
|
Ankit Virendra Jain |
183 |
4.23 |
|
Rashi Gaurav Jain |
673 |
0.00 |
|
|
|
|
|
Total |
5000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.08.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
They are Del Credere agent of Reliance Industries Limited. |
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Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Cash and Cheque |
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Purchasing : |
Cash and Cheque |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
40 (Approximately) |
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Bankers : |
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Auditors : |
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|
Name : |
Jayantilal Thakkar and Company Chartered Accountants |
|
Address : |
111(A), Mahatma Gandhi Road, Fort, Mumbai – 400023, Maharashtra, India
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Tel. No.: |
91-22-22658800 / 22658900 |
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Fax No.: |
91-22-22658989 |
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E-Mail : |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Enterprises over which key managerial personnel are able to exercise
significant influence : |
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CAPITAL STRUCTURE
AS ON 30.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000 |
Equity Shares |
Rs.100/- each |
Rs.2.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
5000 |
Equity Shares |
Rs.100/- each |
Rs. 0.500
Million |
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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 |
0.500 |
0.530 |
0.530 |
|
(b) Reserves & Surplus |
319.017 |
319.372 |
268.475 |
|
(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) |
319.517 |
319.902 |
269.005 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.257 |
0.367 |
0.379 |
|
(c) Other long term
liabilities |
2.300 |
1.961 |
2.214 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
2.557 |
2.328 |
2.593 |
|
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
101.321 |
161.222 |
119.563 |
|
(b) Trade payables |
0.342 |
0.341 |
0.673 |
|
(c) Other current
liabilities |
4.685 |
4.806 |
1.167 |
|
(d) Short-term
provisions |
74.998 |
45.556 |
39.894 |
|
Total Current
Liabilities (4) |
181.346 |
211.925 |
161.297 |
|
|
|
|
|
|
TOTAL |
503.420 |
534.155 |
432.895 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
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(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
18.030 |
12.926 |
14.627 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
50.608 |
43.750 |
45.750 |
|
(c) Deferred tax
assets (net) |
0.000 |
0.000 |
51.377 |
|
(d) Long-term Loan and Advances |
50.872 |
52.022 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
119.510 |
108.698 |
111.754 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
288.471 |
335.763 |
250.600 |
|
(d) Cash and cash
equivalents |
16.019 |
36.274 |
28.921 |
|
(e) Short-term loans
and advances |
79.420 |
53.420 |
41.620 |
|
(f) Other current
assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
383.910 |
425.457 |
321.141 |
|
|
|
|
|
|
TOTAL |
503.420 |
534.155 |
432.895 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
72.499 |
61.100 |
63.636 |
|
|
Other Income |
65.018 |
57.764 |
50.286 |
|
|
TOTAL
|
137.517 |
118.864 |
113.922 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Excess Provision of Gratuity
For Earlier Years w/back |
0.000 |
(0.222) |
0.000 |
|
|
Employees benefits expense |
14.627 |
16.102 |
17.852 |
|
|
Other expenses |
8.797 |
8.268 |
10.332 |
|
|
TOTAL
|
23.424 |
24.148 |
28.184 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
114.093 |
94.716 |
85.738 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
22.920 |
18.196 |
20.701 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
91.173 |
76.520 |
65.037 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
2.198 |
1.445 |
1.752 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
88.975 |
75.075 |
63.285 |
|
|
|
|
|
|
|
Less |
TAX |
29.360 |
24.179 |
20.845 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
59.615 |
50.896 |
42.440 |
|
|
|
|
|
|
|
|
Earnings Per Share |
11.000 |
10.000 |
84.00 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
N.A |
N.A |
N.A |
|
Cash generated from operations |
107.245 |
(41.491) |
105.630 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
82.23 |
83.30 |
66.69 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
157.37 |
155.02 |
134.73 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
19.65 |
15.31 |
18.85 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28 |
0.23 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.32 |
0.50 |
0.44 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.12 |
2.01 |
1.99 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
0.530 |
0.530 |
0.500 |
|
Reserves & Surplus |
268.475 |
319.372 |
319.017 |
|
Net
worth |
269.005 |
319.902 |
319.517 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
119.563 |
161.222 |
101.321 |
|
Total
borrowings |
119.563 |
161.222 |
101.321 |
|
Debt/Equity
ratio |
0.444 |
0.504 |
0.317 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
63.636 |
61.100 |
72.499 |
|
|
|
(3.985) |
18.656 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
63.636 |
61.100 |
72.499 |
|
Profit |
42.440 |
50.896 |
59.615 |
|
|
66.69% |
83.30% |
82.23% |
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) |
No |
|
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 |
No |
|
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 |
Yes |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Short-term
borrowings |
|
|
|
Loan Repayable on Demand from Banks |
|
|
|
Bank Overdraft (Personality Guaranteed by Director) |
98.707 |
134.832 |
|
Loans and advance from related parties |
2.614 |
26.390 |
|
Total |
101.321 |
161.222 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10522461 |
12/11/2014 * |
110,000,000.00 |
YES BANK LIMITED |
SHOP NO.3 AND 4, UPPER GROUND FLOOR, CITY CENTRE, OPP. UNION BANK OF INDIA, SILVASSA VAPI - 396230 ROAD, SILVASSA, GUJARAT, INDIA |
C33169673 |
|
2 |
10125572 |
29/05/2012 * |
150,000,000.00 |
THE CANARA BANK LIMITED |
PRIME CORPORATE BRANCH
I, CUFFE PARADE, MUMBAI, M |
B44177756 |
* Date of charge modification
FIXED ASSETS
- Furniture and Fixture
- Computer
- Office Equipment
- Motor Car
- Electrical Fittings
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.63.57 |
|
|
1 |
Rs.99.20 |
|
Euro |
1 |
Rs.70.35 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYA |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
RKI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
TOTAL |
|
54 |
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 d |
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.